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Nonprofiteer
← STATE CHARTERED CREDIT UNIONS IN

Form 990 for tax year 2023

Filed by STATE CHARTERED CREDIT UNIONS IN.

Totals

Total revenue
$28,858,984
Total expenses
$23,604,486
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$28,858,984
Investment income
$0
Other revenue
$0
Total assets, end of year
$557,154,718
Total liabilities, end of year
$499,994,513
Net assets or fund balances, end of year
$57,160,205
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$23,604,483

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 to Members

    total $20,782,171 · related or exempt $20,782,171 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Investment Income

    total $2,078,043 · related or exempt $2,078,043 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Fee Income

    total $3,912,928 · related or exempt $3,912,928 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Other Operating Income

    total $2,085,842 · related or exempt $2,085,842 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $3,534,766

  • 5 · Compensation of officers, directors and key employees

    total $730,560

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $5,774,244

  • 8 · Pension plan contributions

    total $341,078

  • 9 · Other employee benefits

    total $1,171,442

  • 10 · Payroll taxes

    total $466,277

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $93,599

  • 11c · Fees: accounting

    total $88,278

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $862,494

  • 13 · Office expenses

    total $827,592

  • 14 · Information technology

    total $1,204,029

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $866,409

  • 17 · Travel

    total $63,534

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $38,006

  • 20 · Interest

    total $2,294,310

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $869,421

  • 23 · Insurance

    total $43,811

  • 24a · Other expenses: Loan Servicing

    total $1,765,875

  • 24b · Other expenses: Provision for Credit Losses

    total $1,633,336

  • 24c · Other expenses: Office Operations

    total $270,343

  • 24d · Other expenses: Operating Fees

    total $85,371

  • 24e · All other expenses

    total $579,711

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,973,728 · end of year $5,448,423

  • 2 · Savings and temporary cash investments

    beginning of year $33,169,706 · end of year $47,632,721

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $390,514,124 · end of year $436,750,052

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $917,701 · end of year $1,239,409

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

    $22,689,985

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

    $6,224,352

  • 10c · Land, buildings and equipment, net

    beginning of year $12,910,643 · end of year $16,465,633

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $38,118,837

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $2,406,002 · end of year $3,823,770

  • 14 · Intangible assets

    beginning of year $0 · end of year $3,573,981

  • 15 · Other assets

    beginning of year $2,783,097 · end of year $4,101,892

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,063,157 · end of year $7,800,562

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $608,842 · end of year $541,384

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $30,000,000 · end of year $45,000,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $366,261,253 · end of year $446,652,567

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $44,741,749 · end of year $57,160,205

Mission and programs · 2023

Mission

State chartered credit union mutually owned by our 36,051 members to promote deposits, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested.

Activities or mission (Part I)

State chartered credit union providing financial services to our 36,051 members.

  • State chartered credit union mutually owned by our 36,051 members to promote deposits, issue shares and maintain accounts, and make loans to our members. Funds not needed for liquidity or for loans are temporarily invested.

    Expenses $23,604,483 · Revenue $28,858,980

As filed on the 2023 return.

Listed in Part VII

  • Timothy Robinson

    President/CEO

    Total calculated
    $484,442
    From this org
    $429,698
    From related orgs
    $0
    Other
    $54,744
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,123
    Bonus
    $173,960
    Other
    $9,615
    Deferred
    $0
    Nontaxable benefits
    $54,744
    Filer's total
    $484,442

  • Brittainy Crawford

    CFO

    Total calculated
    $275,211
    From this org
    $224,108
    From related orgs
    $0
    Other
    $51,103
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,652
    Bonus
    $47,918
    Other
    $6,538
    Deferred
    $0
    Nontaxable benefits
    $51,103
    Filer's total
    $275,211

  • Marcus Trull

    Director of Operations

    Total calculated
    $164,904
    From this org
    $131,996
    From related orgs
    $0
    Other
    $32,908
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,972
    Bonus
    $16,808
    Other
    $1,216
    Deferred
    $0
    Nontaxable benefits
    $32,908
    Filer's total
    $164,904

  • Barbara Pinter

    Director of Lending

    Total calculated
    $158,897
    From this org
    $125,915
    From related orgs
    $0
    Other
    $32,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,480
    Bonus
    $16,589
    Other
    $846
    Deferred
    $0
    Nontaxable benefits
    $32,982
    Filer's total
    $158,897

  • Melanie Mooney

    Director of HR

    Total calculated
    $139,865
    From this org
    $117,529
    From related orgs
    $0
    Other
    $22,336
    Hours/week
    40

  • Christopher Wells

    Mortgage Sales Manager

    Total calculated
    $134,475
    From this org
    $114,062
    From related orgs
    $0
    Other
    $20,413
    Hours/week
    40

  • Misty Rice

    Mortgage Loan Officer

    Total calculated
    $121,832
    From this org
    $117,000
    From related orgs
    $0
    Other
    $4,832
    Hours/week
    40

  • Bryan Trantham

    Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Mike Arnott

    Vice Chairperson

    Total calculated
    $0
    Hours/week
    1

  • Andrew Francis

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Stephany Semones

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Greg Boothroyd

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ron Mills

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Howard Taylor

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dean Pressley

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Gary Hollifield

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jenifer Wood

    Board Member

    Total calculated
    $0
    Hours/week
    1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202421369349305242

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