IBEW PLUS CREDIT UNION (EIN 880067875) - 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

1983

Legal Domicile

Principal Officer

CAROL SCHUMACHER

Phone

7028714746

Tax Period

2024-01-01 to 2024-12-31

IBEW PLUS CREDIT UNION, founded in 1983, is a community nonprofit that reported $6.0M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $915K, a strong 15% operating margin.

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,056,976

Investment Income $2,821,518

Other Revenue $75,416

TOTAL REVENUE $5,953,910

Expense Breakdown

Grants Paid $600

Salaries & Benefits $2,082,095

Fundraising Expenses $0

Other Expenses $2,956,685

TOTAL EXPENSES $5,039,380

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,953,910	$5,510,028	+0.1%
Expenses	$5,039,380	$4,349,848	+0.2%
Net Income	$914,530	$1,160,180	-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

$1,155,145

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT E CANNON	CHAIRPERSON	1.00	Director	$0	$0	$0
SAM HORNBECK	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
WENDY SIEDLECKI	SECRETARY	1.00	Director	$0	$0	$0
ROBERT DUKE CANNON	TREASURER	1.00	Director	$0	$0	$0
MICHAEL FRITCHLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA BRADLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFREY WALLENFANG	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL WISNER	SUPV CMTE CHAIRPERSON	0.50	Director	$0	$0	$0
MICHAEL KREIMEYER	SUPV CMTE MEMBER	0.50	Director	$0	$0	$0
ALAN SMITH	SUPV CMTE MEMBER	0.50	Director	$0	$0	$0
KEVIN HENARD	SUPV CMTE MEMBER	0.50	Director	$0	$0	$0
CAROL SCHUMACHER	PRESIDENT/CEO	40.00	Officer	$329,411	$28,026	$357,437
STEPHANIE CALACAL	EVP	40.00	Officer	$213,919	$35,209	$249,128
KELLY ETHIER	EVP/CLO	40.00	Officer	$189,700	$26,411	$216,111
DIANE CAMARDELLA	VP OF COMPLIANCE	40.00	Officer	$163,961	$25,974	$189,935
TARA SEXTON	VP	40.00	Officer	$118,099	$24,435	$142,534

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	$5,953,910	$5,039,380	$123,763,069	$914,530
2023	$5,510,028	$4,349,848	$119,100,579	$1,160,180
2022	$3,766,214	$3,355,561	$114,417,679	$410,653
2021	$3,377,704	$3,372,710	$115,817,912	$4,994
2020	$3,420,151	$3,300,591	$107,836,262	$119,560
2019	$4,101,011	$3,739,126	$92,490,756	$361,885
2018	$4,033,539	$3,542,569	$89,614,863	$490,970

IBEW PLUS CREDIT UNION