Totals
- Total revenue
- $7,461,336
- Total expenses
- $6,419,905
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $6,727,812
- Investment income
- $733,524
- Other revenue
- $0
- Total assets, end of year
- $163,817,752
- Total liabilities, end of year
- $147,507,779
- Net assets or fund balances, end of year
- $16,309,973
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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 $4,095,501 · excluded $4,095,501
-
2b · Program service revenue: FEE INCOME
total $2,632,311 · related or exempt $2,621,911 · unrelated business $10,400
-
3 · Investment income
total $733,524 · related or exempt $733,524
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $647,160
-
7 · Other salaries and wages
total $1,128,238
-
8 · Pension plan contributions
total $149,102
-
9 · Other employee benefits
total $249,409
-
10 · Payroll taxes
total $127,841
-
11b · Fees: legal
total $7,421
-
11c · Fees: accounting
total $42,056
-
11g · Fees: other
total $128,274
-
12 · Advertising and promotion
total $286,905
-
13 · Office expenses
total $762,988
-
14 · Information technology
total $865,065
-
16 · Occupancy
total $297,674
-
17 · Travel
total $5,480
-
19 · Conferences, conventions and meetings
total $111,950
-
20 · Interest
total $396,332
-
22 · Depreciation, depletion and amortization
total $147,574
-
23 · Insurance
total $39,874
-
24a · Other expenses: BANK CHARGES AND PROCES
total $485,940
-
24b · Other expenses: LOAN SERVICING
total $293,861
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $246,761
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $949,294 · end of year $968,866
-
2 · Savings and temporary cash investments
beginning of year $13,331,066 · end of year $10,315,917
-
7 · Other notes and loans receivable
beginning of year $85,286,734 · end of year $91,565,499
-
9 · Prepaid expenses and deferred charges
beginning of year $574,167 · end of year $838,036
-
10a · Land, buildings and equipment: cost or other basis
$7,381,934
-
10b · Land, buildings and equipment: accumulated depreciation
$2,373,573
-
10c · Land, buildings and equipment, net
beginning of year $4,464,952 · end of year $5,008,361
-
11 · Investments: publicly traded securities
beginning of year $28,293,121 · end of year $27,661,474
-
12 · Investments: other securities
beginning of year $15,377,469 · end of year $16,546,134
-
13 · Investments: program-related
beginning of year $1,042,495 · end of year $1,042,495
-
15 · Other assets
beginning of year $9,548,272 · end of year $9,870,970
-
17 · Accounts payable and accrued expenses
beginning of year $711,254 · end of year $1,438,302
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $2,000,000
-
25 · Other liabilities
beginning of year $142,281,608 · end of year $144,069,477
-
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 $15,874,708 · end of year $16,309,973
Mission and programs · 2022
Mission
TO PASSIONATELY DELIVER A COMPREHENSIVE RANGE OF EXCEPTIONAL SERVICES TO OUR MEMBERS.
Activities or mission (Part I)
TO PROVIDE FINANCIAL SERVICES TO MEMBER OWNERS WITH A COMMON BOND.
-
PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
As filed on the 2022 return.
Listed in Part VII
-
David Scott RutherfordDAVID SCOTT RUTHERFORD
PRESIDENT/CEO/TREASURER
- Total calculated
- $301,149
- From this org
- $245,528
- From related orgs
- $0
- Other
- $55,621
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,332
- Bonus
- $55,000
- Other
- $3,196
- Deferred
- $24,226
- Nontaxable benefits
- $31,395
- Filer's total
- $301,149
-
A Doyle BurkeA DOYLE BURKE
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
J Chris KrugJ CHRIS KRUG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
William GillispieWILLIAM GILLISPIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
David SeagravesDAVID SEAGRAVES
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.25
-
Michael DebordeMICHAEL DEBORDE
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Stephen FinkeSTEPHEN FINKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Heather ParrottHEATHER PARROTT
EXECUTIVE VICE PRESIDENT
- Total calculated
- $210,429
- From this org
- $162,574
- From related orgs
- $0
- Other
- $47,855
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $112,658
- Bonus
- $49,698
- Other
- $218
- Deferred
- $16,233
- Nontaxable benefits
- $31,622
- Filer's total
- $210,429
-
Craig BallantineCRAIG BALLANTINE
VICE PRESIDENT
- Total calculated
- $166,496
- From this org
- $131,365
- From related orgs
- $0
- Other
- $35,131
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $113,723
- Bonus
- $17,577
- Other
- $65
- Deferred
- $13,129
- Nontaxable benefits
- $22,002
- Filer's total
- $166,496
-
Madison Y FoleyMADISON Y FOLEY
VICE PRESIDENT
- Total calculated
- $118,554
- From this org
- $107,694
- From related orgs
- $0
- Other
- $10,860
- Hours/week
- 40
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
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- THE CREDIT UNION PROVIDES 457(F) PLANS FOR THE PRESIDENT/CEO, DAVID SCOTT RUTHERFORD AND EXECUTIVE VICE PRESIDENT, HEATHER PARROTT. THE PLAN PROVIDES ANNUAL CREDIT UNION CONTRIBUTIONS OF $40,000 AND $30,000, RESPECTIVELY.
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
- 2022
- Filed
- 7 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343129349304374
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