Spokane Firefighters Credit Union (EIN 910419072) - 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

1934

Legal Domicile

Principal Officer

Gayle Furness

Phone

5094845650

Tax Period

2024-01-01 to 2024-12-31

Spokane Firefighters Credit Union, founded in 1934, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $3.0M left a modest 9% surplus.

Mission

To provide affordable credit and financial services to Spokane firefighters and their families.

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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 $4,874

Program Service Revenue $2,716,772

Investment Income $512,449

Other Revenue $-1,179

TOTAL REVENUE $3,232,916

Expense Breakdown

Grants Paid $30,136

Salaries & Benefits $1,132,996

Fundraising Expenses $0

Other Expenses $1,794,696

TOTAL EXPENSES $2,957,828

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,232,916	$2,767,585	+0.2%
Expenses	$2,957,828	$2,325,717	+0.3%
Net Income	$275,088	$441,868	-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

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

$317,127

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bill Gonzalez	Board Chair	2.00	Officer Director	$0	$0	$0
Ken Miller	Board Vice Chair	2.00	Officer Director	$0	$0	$0
Roger Libby	Director	1.00	Director	$0	$0	$0
Mike Thompson	Director	1.00	Director	$0	$0	$0
Kevin Smith	Director	1.00	Director	$0	$0	$0
Scott Himelspach	Director	1.00	Director	$0	$0	$0
Brian Chavez	Director	1.00	Director	$0	$0	$0
Gayle Furness	Chief Executive Officer, Treasurer	40.00	Officer	$180,622	$16,393	$197,015
William Logan	Vice President of Lending, Secretary	40.00	Officer	$113,313	$6,799	$120,112

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	$3,232,916	$2,957,828	$79,793,959	$275,088
2023	$2,767,585	$2,325,717	$78,753,442	$441,868
2022	$2,450,183	$1,869,452	$75,696,409	$580,731
2021	$2,466,965	$1,857,293	$76,683,740	$609,672
2020	$2,665,341	$1,870,790	$68,427,986	$794,551
2019	$2,068,316	$1,738,423	$58,077,739	$329,893
2018	$1,876,379	$1,478,217	$51,316,311	$398,162

Spokane Firefighters Credit Union