DENVER COMMUNITY CREDIT UNION DBA ZING CREDIT UNION

EIN: 840405947

DENVER, CO

Total Revenue
$22,622,759
Total Expenses
$22,221,479
Total Assets
$413,726,444
Net Assets
$45,828,556
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1934
Legal Domicile
CO
Principal Officer
SHANE SILVERNALE
Phone
3035731170
Tax Period
2023-01-01 to 2023-12-31

DENVER COMMUNITY CREDIT UNION DBA ZING CREDIT UNION, founded in 1934, is a mid-sized nonprofit that reported $22.6M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Net assets of $45.8M represent 24 months of operating reserves.

Mission

TO PROMOTE THRIFT AND PROVIDE LOWER COST CREDIT TO THE MEMBERS OF THE CREDIT UNION. TO PROMOTE THRIFT AMONG MEMBERS BY AFFORDING THEM THE OPPORTUNITY TO ACCUMULATE PAYMENTS ON SHARES AND TO MAKE LOANS FROM THESE SHARES TO ITS MEMBERS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $19,700,644
Investment Income $2,883,560
Other Revenue $38,555
TOTAL REVENUE $22,622,759

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,893,666
Fundraising Expenses $0
Other Expenses $14,327,813
TOTAL EXPENSES $22,221,479

Year-over-Year Comparison

2023 2022 Change
Revenue $22,622,759 $20,539,634 +0.1%
Expenses $22,221,479 $18,410,903 +0.2%
Net Income $401,280 $2,128,731 -0.8%
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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Governance

Voting Members
7
Independent Members
7
Employees
105
Volunteers
12

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
10
$2,011,560
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES DIPAOLO BOARD MEMBER 2.00
Director
$0 $0 $0
TONI SHELTON SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
CAROLYN LAWSON VICE CHAIR 2.00
Officer Director
$0 $0 $0
JANICE M CORNELL BOARD MEMBER 2.00
Director
$0 $0 $0
MORRIS E MURRAY BOARD MEMBER 2.00
Director
$0 $0 $0
ANDY BLUNT CHAIRMAN 2.00
Officer Director
$0 $0 $0
HELEN GONZALES BOARD MEMBER 2.00
Director
$0 $0 $0
TERESSA BONFANTE CO-CEO 40.00
Officer
$476,812 $26,991 $503,803
SHANE SILVERNALE CO-CEO 40.00
Officer
$457,778 $25,702 $483,480
JOSEPH TASSANO VP OF BRANCHES 40.00
Officer
$222,073 $28,107 $250,180
BARBARA RASH VP HUMAN RESOURCES 40.00
Officer
$178,174 $21,467 $199,641
RACHAEL CALDERON VP - STRATEGIC OUTREACH 40.00
Officer
$126,065 $19,726 $145,791
THERESA SHERRY VP - FINANCE 40.00
Officer
$201,194 $24,231 $225,425
PATRICK KELLY VP - INFORMATION TECHNOLOG 40.00
Officer
$186,395 $16,845 $203,240
HOLLY VANDERPOOL AVP - RETAIL 40.00
Highest
$113,275 $12,887 $126,162
EMERY A HARRIS IT MANAGER 40.00
Highest
$107,644 $12,872 $120,516
ALAN LANG AVP - FINANCE 40.00
Highest
$106,148 $16,602 $122,750
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 No data No data No data No data
2023 $22,622,759 $22,221,479 $413,726,444 $401,280
2022 $20,539,634 $18,410,903 $437,413,993 $2,128,731
2021 $18,012,878 $16,492,394 $444,024,280 $1,520,484
2020 $17,516,892 $17,930,848 $407,064,528 $-413,956
2019 $19,895,041 $17,574,130 $354,069,748 $2,320,911
2018 $17,659,844 $16,395,046 $338,007,006 $1,264,798
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