SALAL CREDIT UNION (EIN 910593941) - 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

1948

Legal Domicile

Principal Officer

RUSSELL E ROSENDAL

Phone

2062989394

Tax Period

2023-01-01 to 2023-12-31

SALAL CREDIT UNION, founded in 1948, is a mid-sized nonprofit that reported $75.0M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $68.2M left a modest 9% surplus.

Mission

WE ELIMINATE FINANCIAL OBSTACLES TO HELP EVERYDAY VISIONARIES REALIZE THEIR FULL POTENTIAL.

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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 $68,887,854

Investment Income $5,660,850

Other Revenue $417,244

TOTAL REVENUE $74,965,948

Expense Breakdown

Grants Paid $253,944

Salaries & Benefits $30,552,263

Fundraising Expenses $0

Other Expenses $37,400,556

TOTAL EXPENSES $68,206,763

Year-over-Year Comparison

	2023	2022	Change
Revenue	$74,965,948	$63,361,594	+0.2%
Expenses	$68,206,763	$57,114,018	+0.2%
Net Income	$6,759,185	$6,247,576	+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

307

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

$2,655,250

Total Directors

Key Employees

$1,568,493

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN LUONG	BOARD CHAIR	1.38	Officer Director	$0	$0	$0
ALAN LEDERMAN	VICE CHAIR	1.38	Officer Director	$0	$0	$0
CATHERINE BAILEY	BOARD SECRETARY	1.38	Officer Director	$0	$0	$0
DICK WOO	BOARD MEMBER	0.75	Director	$0	$0	$0
SOPHIE BROUGHAM	BOARD MEMBER	1.00	Director	$0	$0	$0
NISHAT AKHTER	BOARD MEMBER	1.00	Director	$0	$0	$0
QUYNH NGUYEN	BOARD MEMBER	1.00	Director	$0	$0	$0
ALI SEALS	BOARD MEMBER (THRU 12/23)	1.00	Director	$0	$0	$0
JOHN ZIELONKA	BOARD MEMBER (THRU 12/23)	1.00	Director	$0	$0	$0
RUSSELL E ROSENDAL	PRESIDENT/CEO	40.00	Officer	$1,381,803	$42,177	$1,423,980
ROBERT W SCHWEIGERT	SVP - CHIEF LENDING OFFICER	40.00	Officer	$288,023	$29,448	$317,471
RANDY WILLIAM CLOES	SVP - CFO	40.00	Officer	$282,860	$30,080	$312,940
TROY-SKOTT POPE	SVP - CHIEF DIGITAL & STRATGEY OFFICER	40.00	Officer	$286,569	$16,967	$303,536
JUDY LOVELESS-MORRIS	SVP - CHIEF DIVERSITY & PEOPLE	40.00	Officer	$270,721	$26,602	$297,323
BRETT BALLMAN	VP - DIRECTOR OF BUSINESS BANKING	40.00	Key Emp	$210,679	$6,606	$217,285
KARI STENSLIE	VP - CONTROLLER	40.00	Key Emp	$187,672	$17,419	$205,091
CHRISTIAN GRUNERT	FVP - INFORMATION TECHNOLOGY	40.00	Key Emp	$172,248	$29,286	$201,534
SAMANTHA HARBERT	FVP - HOME LENDING & RETAIL BANKING	40.00	Key Emp	$189,532	$18,922	$208,454
MATTHEW W VANCE	VP - MARKETING & PROD. DEVELOPMENT	40.00	Key Emp	$157,371	$39,096	$196,467
EILEEN MAGNUSSON	VP - DIRECTOR HUMAN RESOURCES	40.00	Key Emp	$154,103	$32,337	$186,440
MUNZER J SUKHUN	VP - BUSINESS SERVICES	40.00	Key Emp	$159,169	$25,064	$184,233
SYLVIA POPE	VP - PROGRAM MANAGEMENT	40.00	Key Emp	$152,058	$16,931	$168,989
JAMES A MILLSAP	DEALER DIRECT ACCOUNT MANAGER	40.00	Highest	$202,172	$18,759	$220,931
MEGAN DESILVA	DEALER DIRECT SALES MANAGER	40.00	Highest	$150,012	$38,649	$188,661
KEITH PRICE	SENIOR MANAGER OF DATA STRATEGY & ANALYTICS	40.00	Highest	$162,206	$16,326	$178,532
MATTHEW HEITLAND	IT STRATEGY & INNOVATION SVP - APPLICATION DEVELOP	40.00	Highest	$158,341	$18,349	$176,690
KEVIN KNOWLES	VP - CREDIT ADMINISTRATION	40.00	Highest	$147,538	$33,668	$181,206

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	$74,965,948	$68,206,763	$1,217,780,482	$6,759,185
2022	$63,361,594	$57,114,018	$1,278,954,143	$6,247,576
2021	$53,428,759	$44,265,058	$1,076,834,962	$9,163,701
2020	$52,975,542	$43,765,501	$992,751,176	$9,210,041
2019	$45,513,964	$36,077,128	$737,187,544	$9,436,836
2018	$34,926,129	$30,673,939	$656,178,772	$4,252,190

SALAL CREDIT UNION