LEAGUE OF SOUTHEASTERN CREDIT UNIO… - Form 990 Financial Data

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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

2008

Legal Domicile

Principal Officer

STEVEN J SCHWARTZ

Phone

8662310545

Tax Period

2023-01-01 to 2023-12-31

LEAGUE OF SOUTHEASTERN CREDIT UNIONS, founded in 2008, is a community nonprofit in the Mutual Benefit sector that reported $7.6M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $6.9M left a modest 9% surplus.

Mission

TO CREATE AN ENVIRONMENT THAT ENABLES CREDIT UNIONS TO GROW AND SUCCEED.

Program Service Accomplishments

Program 1

CREDIT UNIONS AND OFFICIALS. DEVELOPING CREDIT UNION PROGRAMS AVAILABLE LEAGUE OF SOUTHEASTERN CREDIT UNIONS 94-3458406 RESEARCH, INFORMATION, AND TECHNICAL SERVICES. ECONOMIC NEWSLETTER TO CREDIT...

CREDIT UNIONS AND OFFICIALS. DEVELOPING CREDIT UNION PROGRAMS AVAILABLE LEAGUE OF SOUTHEASTERN CREDIT UNIONS 94-3458406 RESEARCH, INFORMATION, AND TECHNICAL SERVICES. ECONOMIC NEWSLETTER TO CREDIT UNIONS. CRISIS TEAM ASSISTANCE AVAILABLE TO CREDIT UNIONS.

Program 2

COMMUNICATIONS, PUBLIC RELATIONS, PLANNING. BI-WEEKLY GENERAL INFORMATION LETTER TO CREDIT UNIONS AND OFFICIALS. STRATEGIC PLANNING SESSIONS FOR CREDIT UNIONS AROUND STATES. NEWS RELEASES AND ISSUES...

Program 3

HUMAN RESOURCE DEVELOPMENT AND EDUCATION.

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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 $851,594

Program Service Revenue $5,468,474

Investment Income $162,413

Other Revenue $1,143,286

TOTAL REVENUE $7,625,767

Expense Breakdown

Grants Paid $815,325

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $6,134,414

TOTAL EXPENSES $6,949,739

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,625,767	$6,291,237	+0.2%
Expenses	$6,949,739	$6,008,260	+0.2%
Net Income	$676,028	$282,977	+1.4%

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

N/A

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

$2,050,784

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HANK HALTER	CHAIR	1.00	Officer Director	$0	$0	$0
RICHARD SKAGGS	CHAIR-ELECT	1.00	Officer Director	$0	$0	$0
OLA ANISE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN AKIN	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT CLAMPETT	SECRETARY (UNTIL 6/30)	1.00	Officer Director	$0	$0	$0
STEVE MOSELEY	SECRETARY (FROM 6/30), TRUSTEE	1.00	Officer Director	$0	$0	$0
HENRY ARMSTRONG	PAST CHAIR	1.00	Officer Director	$0	$0	$0
ROY BIBB	TRUSTEE	1.00	Director	$0	$0	$0
STACIE BRANCH	TRUSTEE	1.00	Director	$0	$0	$0
SHARON DOWNING	TRUSTEE	1.00	Director	$0	$0	$0
BRAD GREEN	TRUSTEE	1.00	Director	$0	$0	$0
KABIR LAIWALLA	TRUSTEE (FROM 7/23)	1.00	Director	$0	$0	$0
CHRIS LEGGETT	TRUSTEE	1.00	Director	$0	$0	$0
BOBBY MICHAEL	TRUSTEE	1.00	Director	$0	$0	$0
DENELLE MILLER	TRUSTEE (FROM 7/23)	1.00	Director	$0	$0	$0
JAN PAGE	TRUSTEE	1.00	Director	$0	$0	$0
SUZANNE WEINSTEIN	TRUSTEE (FROM 7/23)	1.00	Director	$0	$0	$0
TINA WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
TIM ANTONITION	TRUSTEE (UNTIL 6/30)	1.00	Director	$0	$0	$0
CARYL GREENE	TRUSTEE (UNTIL 6/30)	1.00	Director	$0	$0	$0
MARY OTT WOOD	TRUSTEE (UNTIL 6/30)	1.00	Director	$0	$0	$0
PATRICK LAPINE	CEO	1.00	Officer	$0	$495,683	$1,186,130
SAMANTHA BEELER	PRESIDENT LEAGUE	1.00	Officer	$0	$36,363	$309,161
DR WEN HEMINGWAY	CFO (UNTIL 11/23)	1.00	Officer	$0	$98,169	$376,659
SYDNEY SERAL	VP OF ADVOCACY	1.00	Officer	$0	$25,632	$178,834

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	$7,625,767	$6,949,739	$47,642,080	$676,028
2022	$6,291,237	$6,008,260	$45,129,409	$282,977
2021	$6,559,105	$5,668,990	$39,760,758	$890,115
2020	$5,874,071	$5,521,920	$36,519,315	$352,151
2019	$5,182,694	$4,486,440	$24,142,762	$696,254
2018	$5,162,817	$5,015,871	$7,603,489	$146,946
2017	$5,271,852	$5,159,687	$7,381,756	$112,165

LEAGUE OF SOUTHEASTERN CREDIT UNIONS