Utah Association of Financial Services (EIN 870228572) - 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

1951

Legal Domicile

Principal Officer

Frank Pignanelli

Tax Period

2023-01-01 to 2023-12-31

Utah Association of Financial Services, founded in 1951, is a small nonprofit that reported $592K in total revenue in fiscal year 2023. The organization ran a surplus of $108K, a strong 18% operating margin.

Mission

Preserve the industrial bank charter and encourage the continued development of the Industrial Bank industry while returning substantial benefits to the State of Utah, including job creation, tax revenue and community reinvestment activities.

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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 (2023)

Revenue Breakdown

Contributions & Grants $437,500

Program Service Revenue $154,258

Investment Income $710

Other Revenue $0

TOTAL REVENUE $592,468

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $465,173

Other Expenses $484,452

TOTAL EXPENSES $484,452

Year-over-Year Comparison

	2023	2022	Change
Revenue	$592,468	$574,060	+0.0%
Expenses	$484,452	$498,208	0.0%
Net Income	$108,016	$75,852	+0.4%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lew Goodwin	Member-at-large	3.00	Director	$0	$0	$0
Christi Palmer	Member-at-large	3.00	Director	$0	$0	$0
Bill Donnelly	SecretaryTreasurer	3.00	Director	$0	$0	$0
Nathan Cluff	Member-at-large	2.00	Director	$0	$0	$0
Mara McNiel	Member-at-large	2.00	Director	$0	$0	$0
Tracy Sandin	Member-at-large	2.00	Director	$0	$0	$0
Reese Howell	Member-at-large	3.00	Director	$0	$0	$0
John Taylor	Member-at-large	3.00	Director	$0	$0	$0
Ray Specht	Chairman Emeritus	3.00	Director	$0	$0	$0
Sherrie Rees	Member-at-large	3.00	Director	$0	$0	$0
Ed Haidenthaller	Vice President	3.00	Director	$0	$0	$0
Andrea Moss	President	3.00	Director	$0	$0	$0
Frank Pignanelli	Executive Director	4.00	Officer Director	$0	$0	$0

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	$592,468	$484,452	$539,673	$108,016
2022	$574,060	$498,208	$443,305	$75,852
2021	$540,725	$528,666	$344,755	$12,059
2020	$508,373	$366,510	$338,646	$141,863
2019	$596,028	$596,213	$174,583	$-185
2018	$457,594	$439,005	$174,768	$18,589

Utah Association of Financial Services