CREDIT UNIONS CHARTERED IN THE STATE OF UTAH

EIN: 870253571

SALT LAKE CITY, UT

Total Revenue
$263,470
Total Expenses
$321,629
Total Assets
$5,025,226
Net Assets
$1,072,602
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
UT
Principal Officer
LYNN NELSON
Phone
8019087113
Tax Period
2020-01-01 to 2020-12-31

CREDIT UNIONS CHARTERED IN THE STATE OF UTAH, founded in 1936, is a small nonprofit that reported $263K in total revenue in fiscal year 2020. Revenue decreased 14% compared to the prior year. Expenses of $322K exceeded revenue, resulting in a 22% operating deficit.

Mission

TO PROVIDE FINANCIAL SERVICES TO MEET THE NEEDS OF INDIVIDUAL MEMBERS BY ENCOURAGING FINANCIAL STABILITY WITH A VARIETY OF FINANCIAL PRODUCTS AND SERVICES TO MEET THE NEEDS OF EACH INDIVIDUAL MEMBER.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $151,747
Investment Income $43,781
Other Revenue $67,942
TOTAL REVENUE $263,470

Expense Breakdown

Grants Paid $0
Salaries & Benefits $130,462
Fundraising Expenses $0
Program Expenses $0
Other Expenses $187,654
TOTAL EXPENSES $321,629

Year-over-Year Comparison

2020 2019 Change
Revenue $263,470 $305,326 -0.1%
Expenses $321,629 $314,743 +0.0%
Net Income $-58,159 $-9,417 +5.2%
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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Governance

Voting Members
7
Independent Members
6
Employees
N/A
Volunteers
8

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
1
$79,125
Total Directors
7
$79,125
Key Employees
1
$79,125
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LYNN NELSON CEO/BOARD MEMBER 45.00
Officer Director Key Emp Highest
$79,125 $0 $79,125
SARAH BRUSIK BOARD CHAIR 2.00
Director
$0 $0 $0
JAMES JACOBSON BOARD VICE-CHAIR 1
Director
$0 $0 $0
MINDY HARDISTY BOARD MEMBER/SUPERVISORY CHAIR 2.00
Director
$0 $0 $0
KEN LANGFORD BOARD MEMBER 1.00
Director
$0 $0 $0
JOE KANE BOARD MEMBER 1.00
Director
$0 $0 $0
DWIGHT MARSHALL BOARD MEMBER 1.00
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
2020 $263,470 $321,629 $5,025,226 $-58,159
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