CREDIT UNIONS IN THE STATE OF WASHINGTON (EIN 910219435) - 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

1935

Legal Domicile

Phone

2064395700

Tax Period

2023-01-01 to 2023-12-31

CREDIT UNIONS IN THE STATE OF WASHINGTON, founded in 1935, is a large national nonprofit that reported $1.5B in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $1.4B left a modest 12% surplus.

Mission

AS A COOPERATIVE WE BRING PEOPLE TOGETHER TO IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS AND THEIR COMMUNITIES.

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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 $0

Program Service Revenue $1,115,615,728

Investment Income $423,065,240

Other Revenue $-699,815

TOTAL REVENUE $1,537,981,153

Expense Breakdown

Grants Paid $9,008,439

Salaries & Benefits $455,893,105

Fundraising Expenses $0

Program Expenses $0

Other Expenses $893,979,647

TOTAL EXPENSES $1,358,881,191

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,537,981,153	$1,076,116,183	+0.4%
Expenses	$1,358,881,191	$879,646,068	+0.5%
Net Income	$179,099,962	$196,470,115	-0.1%

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

3629

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

$19,401,889

Total Directors

$785,901

Key Employees

$526,040

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Debra Somberg	Director Chairperson	6.00	Director	$95,358	$0	$95,358
Bill Longbrake	Director	6.00	Director	$85,000	$0	$85,000
Denis Farmer	Director	6.00	Director	$80,000	$0	$80,000
John McMurray	Director	6.00	Director	$87,858	$0	$87,858
Manolo Sanchez	Director	6.00	Director	$77,143	$0	$77,143
Matthew Oppenheimer	Director	6.00	Director	$85,000	$0	$85,000
Patrick Smith	Director	6.00	Director	$77,143	$0	$77,143
Susan Ehrlich	Director	6.00	Director	$82,143	$0	$82,143
Vanessa Pegueros	Director	6.00	Director	$73,393	$0	$73,393
Will Daugherty	Director	6.00	Director	$42,863	$0	$42,863
John Benson Porter	Former President CEO	0.00		$2,354,131	$4,426	$2,358,557
Beverly Anderson	President CEO	40.00	Officer	$1,495,789	$173,149	$1,668,938
Melba Bartels	EVP Chief Financial Officer	40.00	Officer	$1,664,708	$97,282	$1,761,990
Drew Wolff	EVP Chief Financial Officer	40.00	Officer	$285,000	$0	$285,000
Mike Ryan	EVP Chief Legal Officer and General Counsel	40.00	Officer	$572,956	$71,191	$644,147
Shawna Thompson	EVP Head of Operations	40.00	Officer	$359,969	$72,274	$432,243
Michael Scott Strand	EVP Chief Operating Officer	40.00	Officer	$1,455,332	$74,318	$1,529,650
John Stewart	EVP Chief Risk Officer	40.00	Officer	$839,988	$123,001	$962,989
Nathan Ramachandran	EVP Chief Technology Officer	40.00	Officer	$414,232	$12,637	$426,869
Douglas Marshall	EVP Chief Product Digital Officer	40.00	Officer	$756,586	$73,065	$829,651
Jason Rudman	EVP Chief Membership Experience Officer	40.00	Officer	$89,728	$2,695	$92,423
Raquel Karls	EVP Chief People Officer	40.00	Officer	$260,875	$6,445	$267,320
Beth Hale	EVP Chief Consumer and Business Solutions Officer	40.00	Officer	$232,194	$1,798	$233,992
Rick Eiel	EVP Chief Data and Analytics Officer	40.00	Officer	$857,477	$34,009	$891,486
Thomas Berquist	EVP Chief Marketing Officer	40.00	Officer	$2,322,847	$33,078	$2,355,925
Melanie Walsh	EVP Chief Administrative Officer	40.00	Officer	$2,434,284	$36,133	$2,470,417
Fumbi Chima	EVP Chief Technology Transformation Officer	40.00	Officer	$4,511,727	$37,122	$4,548,849
Dana Gray	SVP Commercial and Business Services	40.00	Highest	$642,696	$88,155	$730,851
Lisa Grove	SVP Chief Audit Executive	40.00	Key Emp	$436,501	$89,539	$526,040
Paul Hutchison	SVP Tech Business Solutions	40.00	Highest	$574,251	$114,304	$688,555
Sean Murphy	SVP Chief Information Security Officer	40.00	Highest	$664,155	$70,329	$734,484
Lisa Holley	Sr Mortgage Advisor - Primary Market	40.00	Highest	$1,326,429	$20,827	$1,347,256
Linnea Wexler	Sr Commercial Relationship Manager II	40.00	Highest	$695,135	$69,758	$764,893

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	$1,537,981,153	$1,358,881,191	$29,871,889,353	$179,099,962
2022	$1,076,116,183	$879,646,068	$28,780,643,575	$196,470,115
2021	$992,196,351	$737,944,717	$30,156,698,461	$254,251,634
2020	$946,571,736	$783,626,413	$26,751,027,006	$162,945,323
2020	$946,571,736	$783,626,413	$26,751,027,006	$162,945,323
2019	$1,014,880,283	$739,519,649	$22,178,675,264	$275,360,634
2018	$861,138,238	$607,945,962	$19,588,565,098	$253,192,276
2018	$861,138,238	$607,945,962	$19,588,565,098	$253,192,276

CREDIT UNIONS IN THE STATE OF WASHINGTON