WATER AND POWER COMMUNITY CREDIT U… - 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

1936

Legal Domicile

Principal Officer

MIKE TUFEGDZICH

Phone

2135801706

Tax Period

2023-01-01 to 2023-12-31

WATER AND POWER COMMUNITY CREDIT UNION, founded in 1936, is a mid-sized nonprofit that reported $45.7M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $40.3M left a modest 12% surplus.

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT ANDSAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, WATER & POWER COMMUNITY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITSMEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

THE CREDIT UNION PROVIDED DEPOSIT ACCOUNTS AND LOAN SERVICES TO 44,861 MEMBERS AS OF DECEMBER 31, 2023. IN 2023, 6,261 LOANS WERE MADE TO MEMBERS.

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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 $36,545,127

Investment Income $6,382,666

Other Revenue $2,819,468

TOTAL REVENUE $45,747,261

Expense Breakdown

Grants Paid $25,139

Salaries & Benefits $14,594,260

Fundraising Expenses $0

Other Expenses $25,640,818

TOTAL EXPENSES $40,260,217

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,747,261	$41,011,764	+0.1%
Expenses	$40,260,217	$34,627,524	+0.2%
Net Income	$5,487,044	$6,384,240	-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

146

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

$2,206,074

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NORA YUSA	BOARD CHAIRPERSON	3.00	Director	$0	$0	$0
VENEST HENRY-EVANS	BOARD 1ST VICE CHAIR	3.00	Director	$0	$0	$0
GLADYS BERRY	BOARD SECRETARY	3.00	Director	$0	$0	$0
GERARD WATSON	ASSISTANT SECRETARY	3.00	Director	$0	$0	$0
BELINDA WALKER	BOARD TREASURER	3.00	Director	$0	$0	$0
BRIAN LAM	ASSISTANT TREASURER	3.00	Director	$0	$0	$0
THERON RUCKER	SUPV CMTE CHAIRPERSON	3.00	Director	$0	$0	$0
SALVADOR MANCILLA	SUPV CMTE VICE CHAIRPERSON	3.00	Director	$0	$0	$0
WING WONG	SUPV CMTE MEMBER	3.00	Director	$0	$0	$0
CYNTHIA MEEKINS	SUPV CMTE MEMBER	3.00	Director	$0	$0	$0
EMMAJACKY MAGARIN	SUPV CMTE MEMBER	3.00	Director	$0	$0	$0
MIKE TUFEGDZICH	CEO	40.00	Officer	$466,275	$28,291	$494,566
CELESTE ZIBELLI	VP OF MARKERTING AND FINANCIAL SERVICES	22.00	Officer	$365,239	$14,804	$380,043
PATRICE MUSTAFA	COO	42.00	Officer	$283,239	$31,064	$314,303
FELIPE CASTANEDA	CFO	40.00	Officer	$274,718	$30,099	$304,817
BRUCE ALAN WEST	CPO	40.00	Officer	$252,021	$19,593	$271,614
DAVID COVELL	VP INFORMATION TECHNOLOGY	40.00	Officer	$205,523	$42,661	$248,184
JESSICA ORTIZ	DIRECTOR OF COMPLIANCE	42.00	Officer	$164,749	$27,798	$192,547
LUIS ROBLES	TREASURER	44.00	Highest	$193,003	$21,412	$214,415
ITALO ALVARADO	RE LOAN OFFICER	52.00	Highest	$168,371	$2,414	$170,785
KENNETH MICHAEL	SENIOR MANAGER NETWORK SECURITY	40.00	Highest	$167,542	$31,064	$198,606
FADWA KNOX	DIRECTOR LENDING	41.00	Highest	$156,945	$19,468	$176,413
ERIC GUERRERO	DIRECTOR MARKETING	41.00	Highest	$145,997	$11,264	$157,261

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	$45,747,261	$40,260,217	$969,595,009	$5,487,044
2022	$41,011,764	$34,627,524	$929,459,865	$6,384,240
2021	$29,022,780	$28,515,283	$950,835,528	$507,497
2020	$30,578,214	$30,299,332	$873,220,040	$278,882
2019	$34,475,955	$28,508,279	$747,048,545	$5,967,676
2018	$30,451,541	$25,269,763	$704,045,650	$5,181,778

WATER AND POWER COMMUNITY CREDIT UNION