FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA (EIN 952513485) - 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

1967

Legal Domicile

Principal Officer

STEPHEN OWEN

Phone

8888003328

Tax Period

2023-01-01 to 2023-12-31

FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA, founded in 1967, is a major nonprofit that reported $100.3M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $87.7M left a modest 13% surplus.

Mission

A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS 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 $86,560,177

Investment Income $13,369,422

Other Revenue $369,282

TOTAL REVENUE $100,298,881

Expense Breakdown

Grants Paid $47,644

Salaries & Benefits $34,211,157

Fundraising Expenses $0

Other Expenses $53,396,587

TOTAL EXPENSES $87,655,388

Year-over-Year Comparison

	2023	2022	Change
Revenue	$100,298,881	$79,392,811	+0.3%
Expenses	$87,655,388	$61,630,121	+0.4%
Net Income	$12,643,493	$17,762,690	-0.3%

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

287

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

$1,327,543

Total Directors

Key Employees

$2,804,970

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK WALTERS	BOARD CHAIR	1.00	Director	$0	$0	$0
STEPHEN RAYNES	BOARD VICE-CHAIR	1.00	Director	$0	$0	$0
LAURA VALAN	SECRETARY	1.00	Director	$0	$0	$0
IRWIN JACOBSON	TREASURER	1.00	Director	$0	$0	$0
HOWARD WELINSKY	BOARD MEMBER	1.00	Director	$0	$0	$0
GARI ANN DOUGLASS	BOARD MEMBER	1.00	Director	$0	$0	$0
SAKAE MANNING	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF MIRKIN	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL EDWARDS	BOARD MEMBER	1.00	Director	$0	$0	$0
TED SCHILOWITZ	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES HERR	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN OWEN	PRESIDENT/CEO	40.00	Officer	$824,765	$33,796	$858,561
KENNETH KRAMER	SVP/CFO	40.00	Officer	$423,640	$45,342	$468,982
ADRIANA ALLISON	SVP/CXO	40.00	Key Emp	$389,440	$59,730	$449,170
JONATHAN PARTRIDGE	EVP/CHIEF STRATEGY OFFICER	40.00	Key Emp	$329,660	$17,512	$347,172
MOLLY HOLCOMB	SVP/CHIEF MARKETING OFFICER	40.00	Key Emp	$317,367	$10,911	$328,278
JENNIFER JORDAN	SVP/CHIEF RISK OFFICER	40.00	Key Emp	$299,654	$7,641	$307,295
JANET KWON-GASPARD	SVP/CHIEF PEOPLE OFFICER	40.00	Key Emp	$285,991	$35,487	$321,478
THOMAS E ORMAN	SVP/CLO	40.00	Key Emp	$275,270	$13,886	$289,156
JAMES MARCELLINO	VP FACILITIES	40.00	Key Emp	$734,586	$27,835	$762,421
WILLIAM H WALKER	VP REAL ESTATE LENDING	40.00	Highest	$295,243	$40,128	$335,371
SHANNON LEITCH	VP COMMERCIAL & REAL ESTATE LENDING	40.00	Highest	$267,025	$7,931	$274,956
IRINA ABRAMOVA	VP INFORMATION TECHNOLOGY	40.00	Highest	$261,936	$23,525	$285,461
DANIEL ARITA	VP STRATEGY	40.00	Highest	$251,254	$25,369	$276,623

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	$100,298,881	$87,655,388	$2,209,711,281	$12,643,493
2022	$79,392,811	$61,630,121	$2,110,364,195	$17,762,690
2021	$73,701,401	$56,522,507	$2,107,643,635	$17,178,894
2020	$71,658,881	$72,484,074	$1,891,651,990	$-825,193
2019	$74,614,338	$61,947,898	$1,613,755,239	$12,666,440
2018	$66,029,396	$52,285,341	$1,525,870,785	$13,744,055

FIRST ENTERTAINMENT CREDIT UNION FKA CREDIT UNIONS IN THE STATE OF CA