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Nonprofiteer
← CN IC EMPLOYEES CREDIT UNION

Form 990 for tax year 2023

Filed by CN IC EMPLOYEES CREDIT UNION.

Totals

Total revenue
$716,605
Total expenses
$695,753
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$617,570
Investment income
$70,300
Other revenue
$28,735
Total assets, end of year
$9,703,870
Total liabilities, end of year
$8,164,085
Net assets or fund balances, end of year
$1,539,785
Program services expenses (Part IX)
$0
Management and general expenses
$695,753
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $503,456 · related or exempt $503,456

  • 2b · Program service revenue: FEE INCOME

    total $114,114 · related or exempt $114,114

  • 3 · Investment income

    total $70,300 · related or exempt $70,300

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $28,402 · related or exempt $28,402

  • 11b · Other revenue: OTHER NON-OPERATING INCOME

    total $333 · related or exempt $333

  • 11e · Other revenue, total

    $28,735

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $184,366 · management and general $184,366

  • 9 · Other employee benefits

    total $12,768 · management and general $12,768

  • 10 · Payroll taxes

    total $14,104 · management and general $14,104

  • 13 · Office expenses

    total $104,315 · management and general $104,315

  • 16 · Occupancy

    total $32,063 · management and general $32,063

  • 19 · Conferences, conventions and meetings

    total $5,973 · management and general $5,973

  • 20 · Interest

    total $72,221 · management and general $72,221

  • 24a · Other expenses: PROVISION FOR LOAN LOSSES

    total $97,562 · management and general $97,562

  • 24b · Other expenses: PROF & OUTSIDE SERVICES

    total $90,417 · management and general $90,417

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $48,332 · management and general $48,332

  • 24d · Other expenses: OTHER EXPENSES

    total $17,586 · management and general $17,586

  • 24e · All other expenses

    total $16,046 · management and general $16,046

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $520,255 · end of year $701,616

  • 2 · Savings and temporary cash investments

    beginning of year $2,093,000 · end of year $1,793,000

  • 4 · Accounts receivable

    beginning of year $6,463,820 · end of year $6,746,721

  • 9 · Prepaid expenses and deferred charges

    beginning of year $86,364 · end of year $81,100

  • 10a · Land, buildings and equipment: cost or other basis

    $184,536

  • 10b · Land, buildings and equipment: accumulated depreciation

    $155,741

  • 10c · Land, buildings and equipment, net

    beginning of year $25,920 · end of year $28,795

  • 12 · Investments: other securities

    beginning of year $60,926 · end of year $60,926

  • 15 · Other assets

    beginning of year $303,256 · end of year $291,712

  • 17 · Accounts payable and accrued expenses

    beginning of year $281,078 · end of year $292,840

  • 25 · Other liabilities

    beginning of year $7,689,640 · end of year $7,871,245

  • 29 · Capital stock, trust principal or current funds

    beginning of year $331,172 · end of year $344,174

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,251,651 · end of year $1,195,611

Mission and programs · 2023

Mission

CREDIT UNION - TO PROVIDE SERVICES FOR APPROXIMATELY 1,240 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES

Activities or mission (Part I)

CREDIT UNION - TO PROVIDE FINANCIAL SERVICES TO MEMBERS

  • THE CREDIT UNION PROVIDES A VARIETY OF LOAN SERVICES FOR ITS MEMBERS

  • THE CREDIT UNION PROVIDES A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS

As filed on the 2023 return.

Listed in Part VII

  • Sandra Griffis

    CEO/MANAGER

    Total calculated
    $102,075
    From this org
    $96,739
    From related orgs
    $0
    Other
    $5,336
    Hours/week
    40

  • Randall K Browning

    BOARD VICE-P

    Total calculated
    $0

  • Mark Coleman

    SECRETARY-TR

    Total calculated
    $0

  • Jason Grissom

    BOARD PRESID

    Total calculated
    $0

  • Norman Jamison

    BOARD MEMBER

    Total calculated
    $0

  • Brandon Lackland

    BOARD MEMBER

    Total calculated
    $0

  • Kelly Pearson

    BOARD MEMBER

    Total calculated
    $0

  • James Taylor

    BOARD MEMBER

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
11 April 2024
IRS schema version
2023v5.0
Source object
202431069349300713

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