FINANCIAL PARTNERS 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

1937

Legal Domicile

Principal Officer

NADER MOGHADDAM

Phone

5629044208

Tax Period

2023-01-01 to 2023-12-31

FINANCIAL PARTNERS CREDIT UNION, founded in 1937, is a major nonprofit that reported $113.0M in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $108.2M left a modest 4% surplus.

Mission

FINANCIAL PARTNERS CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS 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, FINANCIAL PARTNERS CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTUAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS.

Program Service Accomplishments

Program 1

THROUGH GRANTS FROM THE CDFI AND THE $35 MILLION IN SUPPLEMENTAL CAPITAL, CONTINUED TO EXPAND LENDING TO LOW AND MODERATE INCOME MEMBERS.

Program 2

RECEIVED $35,000,000 IN SUPPLEMENTAL CAPITAL LOANS THROUGH THE U.S. TREASURY DEPARTMENT'S EMERGENCY CAPITAL INVESTMENT PROGRAM (ECIP).

Program 3

RECEIVED ADDITIONAL GRANTS AS A CDFI (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION) DESIGNATED CREDIT UNION, TO HELP LOW-INCOME COMMUNITIES BY PROVIDING ACCESS TO FINANCIAL PRODUCTS AND SERVICES FOR...

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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 $103,116,266

Investment Income $9,078,283

Other Revenue $776,275

TOTAL REVENUE $112,970,824

Expense Breakdown

Grants Paid $99,407

Salaries & Benefits $33,620,925

Fundraising Expenses $0

Other Expenses $74,487,810

TOTAL EXPENSES $108,208,142

Year-over-Year Comparison

	2023	2022	Change
Revenue	$112,970,824	$83,728,887	+0.3%
Expenses	$108,208,142	$83,433,676	+0.3%
Net Income	$4,762,682	$295,211	+15.1%

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

361

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

$4,694,067

Total Directors

$28,121

Key Employees

$3,796,758

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA SMITH	CHAIRPERSON	1.00	Director	$2,263	$0	$2,263
YVES PINKOWITZ	VICE CHAIRPERSON	1.00	Director	$3,074	$0	$3,074
ALAN BERGMAN	TREASURER	1.00	Director	$3,020	$0	$3,020
DR WILLIAM FEASTER	SECRETARY	1.00	Director	$1,457	$0	$1,457
RALPH CROWTHER	BOARD MEMBER	1.00	Director	$0	$0	$0
DONNA CLAWSON	BOARD MEMBER	1.00	Director	$1,227	$0	$1,227
MARIO GUERRA	BOARD MEMBER	1.00	Director	$2,479	$0	$2,479
PAUL GEERY	BOARD MEMBER	1.00	Director	$3,981	$0	$3,981
ALEX SAAB	BOARD MEMBER	1.00	Director	$4,538	$0	$4,538
JOE SPETZ	EMERITUS	1.00	Director	$1,519	$0	$1,519
GARY MACHEEL FORMER	EMERITUS	1.00	Director	$0	$0	$0
CARYN PHILLIPS	SUPV CMTE CHAIRPERSON	1.00	Director	$650	$0	$650
STEVE KOESTER	SUPV CMTE MEMBER	1.00	Director	$3,913	$0	$3,913
VINCE WORKMAN	SUPV CMTE MEMBER	1.00	Director	$0	$0	$0
NADER MOGHADDAM	PRESIDENT/CEO	40.00	Officer	$1,040,558	$59,116	$1,099,674
JOSEPH BRANCUCCI	SPECIAL LENDING CONSULTING	40.00	Officer	$498,807	$30,000	$528,807
MARY TORSNEY	EVP/CFO	40.00	Officer	$436,563	$47,446	$484,009
DARREN HERRMANN	EVP/COO	40.00	Officer	$398,289	$49,879	$448,168
WANDA A WILLIAMS	EVP/CAO	40.00	Officer	$386,123	$44,999	$431,122
LORI REEVES	SVP CHIEF MARKETING OFFICER	40.00	Officer	$302,061	$38,360	$340,421
CAMBRIA BRIGGS	SVP HUMAN RESOURCES	40.00	Officer	$292,104	$22,500	$314,604
JILL HALL-ERPS	SVP/CRO	40.00	Officer	$248,022	$64,431	$312,453
MARIO OSORIO	SVP INVESTMENT AND INSURANCE	40.00	Officer	$241,107	$24,009	$265,116
AARON BRESKO	SVP LENDING	40.00	Officer	$198,105	$22,953	$221,058
KAMIL SAKICI	SVP CHIEF STRATEGY OFFICER	40.00	Officer	$131,152	$20,985	$152,137
ERIC ZITTEL	SVP CHIEF LENDING OFFICER	40.00	Officer	$89,577	$6,921	$96,498
JUSTIN CHANG	VP COMMERCIAL LENDING	40.00	Key Emp	$278,285	$33,120	$311,405
ERMETE VESTRI	VP REAL ESTATE LENDING	40.00	Key Emp	$239,568	$6,326	$245,894
PHILLIP FOWLER	VP INFORMATION TECHNOLOGY	40.00	Key Emp	$237,028	$16,304	$253,332
MICHAEL STAVRAKIS	VP FINANCE	40.00	Key Emp	$229,423	$24,077	$253,500
CHRISTOPHER A MARQUEZ	VP IT INFRASTRUCTURE	40.00	Key Emp	$218,906	$22,552	$241,458
DENNIS DONNELLY	VP MEMBER CONTACT CENTER	40.00	Key Emp	$210,700	$23,203	$233,903
STEPHANIE HEGLAR	VP RISK MANAGEMENT	40.00	Key Emp	$207,390	$43,378	$250,768
ERIC JOHNSON	VP CONTROLLER	40.00	Key Emp	$205,411	$28,155	$233,566
JUAN A JIMENEZ-LINDMEIER	VP REAL ESTATE LENDING	40.00	Key Emp	$200,000	$49,562	$249,562
TRAVIS LONG	VP ENTERPRISE PROJECT MANAGEMENT	40.00	Key Emp	$199,356	$37,499	$236,855
MARK LAKATOS	VP LEARNING & DEVELOPMENT	40.00	Key Emp	$194,602	$45,266	$239,868
JOANN FORTE	VP LOAN RESOLUTION	40.00	Key Emp	$192,330	$28,194	$220,524
ANGELO GEORGE COX	VP FACILITIES PURCHASING & PHYSICAL SECURITY	40.00	Key Emp	$185,285	$36,136	$221,421
EVAN K ALBERTAZZI	VP DIGITAL DELIVERY	40.00	Key Emp	$168,398	$48,584	$216,982
ROYCE NGIAM	VP SPONSOR & COMMUNITY RELATIONS	40.00	Key Emp	$166,208	$37,899	$204,107
ANDREA PORTILLO	VP LOAN SERVICING	40.00	Key Emp	$158,063	$25,550	$183,613
LARRY ROMERO	SENIOR COMMERCIAL LOAN OFFICER	40.00	Highest	$165,352	$20,476	$185,828
ADAM WASS	FINANCIAL CONSULTANT	40.00	Highest	$301,119	$43,378	$344,497
HARIBABU KRISHNAMOORTHY	DIRECTOR, PROGRAMMING & DEVELOPMENT	40.00	Highest	$210,849	$39,463	$250,312
DAVID GREGG	DIRECTOR, LEARNING & DEVELOPMENT	40.00	Highest	$182,133	$29,912	$212,045
ANTHONY L KENDZIORSKI	DIRECTOR, NETWORK & SYSTEMS INFRASTRUCTURE	40.00	Highest	$164,949	$38,663	$203,612

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	$112,970,824	$108,208,142	$2,274,502,940	$4,762,682
2022	$83,728,887	$83,433,676	$2,285,374,736	$295,211
2021	$84,060,195	$72,366,837	$1,913,935,025	$11,693,358
2020	$83,874,646	$72,618,968	$1,754,411,091	$11,255,678
2019	$69,472,740	$62,150,616	$1,503,278,090	$7,322,124
2018	$65,495,513	$59,329,918	$1,378,108,182	$6,165,595