MINNEQUA WORKS CREDIT UNION (EIN 840398950) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1936

Legal Domicile

Principal Officer

DAVID PURFIELD

Tax Period

2024-01-01 to 2024-12-31

MINNEQUA WORKS CREDIT UNION, founded in 1936, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $11.7M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $10.2M left a modest 13% surplus.

Mission

CREDIT UNION PROGRAMS THE CREDIT UNION IS OWNED BY APPROXIMATELY 13,218 MEMBERS. THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS, SUCH AS CONSUMER LENDING CONTINUED ON SCHEDULE O STATEMENT 1

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,963,526

Investment Income $4,770,134

Other Revenue $0

TOTAL REVENUE $11,733,660

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $2,992,439

Fundraising Expenses $0

Program Expenses $25,617

Other Expenses $7,143,104

TOTAL EXPENSES $10,150,543

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,733,660	$9,391,147	+0.2%
Expenses	$10,150,543	$8,040,641	+0.3%
Net Income	$1,583,117	$1,350,506	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$21,600

Total Directors

Key Employees

$525,130

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATHAN CAPE	CEO	050.00	Key Emp Highest	$171,516	$0	$171,516
DAVID PURFIELD	CFO	050.00	Key Emp Highest	$121,882	$0	$121,882
GREG LEBER	CIO	050.00	Key Emp Highest	$117,990	$0	$117,990
JOELLA KRASOVIC	COO	050.00	Key Emp Highest	$113,742	$0	$113,742
GREG SMITH	CHAIRMAN OF THE BOARD	001.00	Officer	$2,400	$0	$2,400
DAVE ANDERSON	VICE CHAIRMAN	001.00	Officer	$2,400	$0	$2,400
GLORIA BOWSER	SEC/TREAS	001.00	Officer	$2,400	$0	$2,400
CHARLIE DAVIS	DIRECTOR	001.00	Officer	$2,400	$0	$2,400
JOHN SHRIVER	DIRECTOR	001.00	Officer	$2,400	$0	$2,400
MARILYN RHODES	DIRECTOR	001.00	Officer	$2,400	$0	$2,400
JAYNE RENKOSIK	DIRECTOR	001.00	Officer	$2,400	$0	$2,400
ELLEN MAHONEY	DIRECTOR	001.00	Officer	$2,400	$0	$2,400
JOEY FALBO	DIRECTOR	001.00	Officer	$2,400	$0	$2,400

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,733,660	$10,150,543	$246,429,826	$1,583,117
2023	$9,391,147	$8,040,641	$248,270,789	$1,350,506
2022	$7,236,388	$5,876,098	$233,607,050	$1,360,290
2021	$7,220,159	$5,734,855	$238,940,287	$1,485,304
2020	$7,770,432	$6,238,526	$221,715,624	$1,531,906
2019	$7,975,777	$6,274,658	$190,734,024	$1,701,119
2018	$7,399,440	$5,647,687	$182,239,766	$1,751,753

MINNEQUA WORKS CREDIT UNION