SOUTHWEST HEALTHCARE CREDIT UNION

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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

1974

Legal Domicile

Principal Officer

COLLEEN MILLER-CURTIS

Phone

6022747592

Tax Period

2020-01-01 to 2020-05-31

SOUTHWEST HEALTHCARE CREDIT UNION, founded in 1974, is a small nonprofit that reported $271K in total revenue in fiscal year 2020. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 437% operating deficit.

Mission

THE MISSION OF THE CREDIT UNIONS IN THE STATE OF ARIZONA, DBA SOUTHWEST HEALTHCARE CREDIT UNION (SWHCU) IS TO ADVANCE THE ECONOMIC CONDITION OF ITS MEMBERSHIP BY PROVIDING QUALITY FINANCIAL PRODUCTS THAT FULFILL PRESENT AND FUTURE CONSUMER NEEDS. THESE PRODUCTS SHOULD BE OFFERED AT THE LOWEST POSSIBLE COST WITHOUT HAVING TO SACRIFICE THE QUALITY OF SERVICE THE MEMBERSHIP DESERVES.ITS PURPOSE SHALL BE TO CREATE A SOURCE OF CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST, ENCOURAGE HABITS OF THRIFT AMONG ITS MEMBERS, AND PROVIDE THE OPPORTUNITY FOR ITS MEMBERS TO USE AND CONTROL THEIR SAVINGS FOR THEIR MUTUAL BENEFIT.

Program Service Accomplishments

Program 1

WITH SWHCU, YOU'RE A MEMBER, NOT A NUMBER. OUR GOAL IS TO PUT OUR MEMBERS FIRST IN ALL WE DO. WE PROVIDE PRODUCTS AND SERVICES THAT HELP THE FINANCIAL STABILITY AND ECONOMIC GROWTH FOR BOTH OUR...

WITH SWHCU, YOU'RE A MEMBER, NOT A NUMBER. OUR GOAL IS TO PUT OUR MEMBERS FIRST IN ALL WE DO. WE PROVIDE PRODUCTS AND SERVICES THAT HELP THE FINANCIAL STABILITY AND ECONOMIC GROWTH FOR BOTH OUR MEMBERS AND OUR COMMUNITY. AS PART OF YOUR COMMUNITY, WE PLAN FOR THE FUTURE TO HELP INDIVIDUALS AND BUSINESS ACHIEVE AND MAINTAIN FINANCIAL SUCCESS, STABILITY, AND PROSPERITY. SWHCU ASSISTS MEMBERS TO BECOME BETTER-EDUCATED CONSUMERS OF FINANCIAL SERVICES.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $218,024

Investment Income $52,654

Other Revenue $0

TOTAL REVENUE $270,678

Expense Breakdown

Grants Paid $957,004

Salaries & Benefits $137,311

Fundraising Expenses $0

Other Expenses $344,122

TOTAL EXPENSES $1,454,591

Year-over-Year Comparison

	2020	2019	Change
Revenue	$270,678	$771,360	-0.6%
Expenses	$1,454,591	$850,748	+0.7%
Net Income	$-1,183,913	$-79,388	+13.9%

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

N/A

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

$37,774

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS PHALEN	CHAIRMAN	0.50	Officer Director	$0	$0	$0
LARRY WHITE	VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
TILLIE JONES	SECRETARY	0.50	Officer Director	$0	$0	$0
LISA DREGNE	TREASURER	0.50	Officer Director	$0	$0	$0
RUSSELL DODSON	DIRECTOR	0.50	Director	$0	$0	$0
PAUL GOERGEN	DIRECTOR	0.50	Director	$0	$0	$0
LAWRENCE MARCUS	DIRECTOR	0.50	Director	$0	$0	$0
COLLEEN MILLER-CURTIS	PRESIDENT/CEO	50.00	Officer	$30,261	$7,513	$37,774

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
2020	$270,678	$1,454,591	No data	$-1,183,913
2019	$771,360	$850,748	$14,699,050	$-79,388
2018	$898,469	$892,113	$16,015,025	$6,356