HORIZON CREDIT UNION

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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

1947

Legal Domicile

Principal Officer

JEFF ADAMS

Phone

5099286494

Tax Period

2023-01-01 to 2023-12-31

HORIZON CREDIT UNION, founded in 1947, is a major nonprofit that reported $110.2M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $104.8M left a modest 5% surplus.

Mission

CREDIT UNION OPERATED WITHOUT PROFIT FOR MUTUAL PURPOSES.

Program Service Accomplishments

Program 1

PROVIDE FINANCIAL SERVICES TO APPROXIMATELY 112,300 MEMBERS. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO LOANS AND SAVINGS PROGRAMS. THE SERVICES ARE PROVIDED BY AT LEAST 14 NON-PAID VOLUNTEERS AND...

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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 $96,814,180

Investment Income $13,379,631

Other Revenue $24,717

TOTAL REVENUE $110,218,528

Expense Breakdown

Grants Paid $298,502

Salaries & Benefits $39,672,206

Fundraising Expenses $0

Other Expenses $64,865,353

TOTAL EXPENSES $104,836,061

Year-over-Year Comparison

	2023	2022	Change
Revenue	$110,218,528	$83,502,229	+0.3%
Expenses	$104,836,061	$70,718,987	+0.5%
Net Income	$5,382,467	$12,783,242	-0.6%

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

528

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

$7,198,219

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE SHARON	CHAIRMAN OF BOARD	1.00	Officer Director	$0	$0	$0
MIKE BUTLER	1ST VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MARK LODINE	2ND VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAT FITZGERALD	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
DARIN BURRELL	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS DILUZIO	DIRECTOR	1.00	Director	$0	$0	$0
PAT MARLER	DIRECTOR	1.00	Director	$0	$0	$0
JEFF ADAMS	CEO	40.00	Officer	$6,111,461	$55,334	$6,166,795
DEBORAH PARELIUS	CFO	40.00	Officer	$465,986	$49,497	$515,483
MARK NEUMANN	COO	40.00	Officer	$469,660	$46,281	$515,941
GREG CRARY	SENIOR VP, INFORMATION SER	40.00	Highest	$342,928	$51,617	$394,545
JODIE OLSON	SENIOR VP, HUMAN RESOURCES	40.00	Highest	$339,739	$43,739	$383,478
BRIAN GRYTDAL	SENIOR VP, MARKETING	40.00	Highest	$338,480	$38,360	$376,840
JOHN COTNER	VP, LENDING	40.00	Highest	$209,153	$32,763	$241,916
STEFANIE ROBINSON	VP, MARKETING	40.00	Highest	$191,607	$26,617	$218,224

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	$110,218,528	$104,836,061	$2,055,277,728	$5,382,467
2022	$83,502,229	$70,718,987	$2,076,980,376	$12,783,242
2021	$75,301,654	$56,124,430	$1,730,610,354	$19,177,224
2020	$66,667,912	$53,199,704	$1,645,911,225	$13,468,208
2019	$57,324,972	$44,125,619	$1,121,213,457	$13,199,353
2018	$51,709,552	$40,090,753	$1,056,461,334	$11,618,799