Totals
- Total revenue
- $3,655,647
- Total expenses
- $3,302,039
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,655,647
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $74,176,341
- Total liabilities, end of year
- $892,374
- Net assets or fund balances, end of year
- $73,283,967
- Program services expenses (Part IX)
- $3,302,039
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,302,039
Program services were 100.0% 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 $2,560,849 · related or exempt $2,560,849
-
2b · Program service revenue: INTEREST ON INVESTMENTS
total $298,984 · related or exempt $298,984
-
2c · Program service revenue: COURTESY PAY INCOME
total $103,072 · related or exempt $103,072
-
2d · Program service revenue: LATE CHARGES ON LOANS
total $42,955 · related or exempt $42,955
-
2e · Program service revenue: ACH NSF FEE INCOME
total $30,808 · related or exempt $30,808
-
2f · All other program service revenue
total $618,979 · related or exempt $618,979
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $428,731 · program services $428,731
-
7 · Other salaries and wages
total $616,872 · program services $616,872
-
8 · Pension plan contributions
total $54,234 · program services $54,234
-
9 · Other employee benefits
total $116,738 · program services $116,738
-
10 · Payroll taxes
total $81,702 · program services $81,702
-
11b · Fees: legal
total $7,200 · program services $7,200
-
11c · Fees: accounting
total $23,993 · program services $23,993
-
12 · Advertising and promotion
total $28,042 · program services $28,042
-
13 · Office expenses
total $152,328 · program services $152,328
-
14 · Information technology
total $289,023 · program services $289,023
-
16 · Occupancy
total $130,954 · program services $130,954
-
17 · Travel
total $244 · program services $244
-
19 · Conferences, conventions and meetings
total $22,654 · program services $22,654
-
20 · Interest
total $275,050 · program services $275,050
-
22 · Depreciation, depletion and amortization
total $83,266 · program services $83,266
-
23 · Insurance
total $39,160 · program services $39,160
-
24a · Other expenses: CREDIT CARD PROGRAM EXPENSES
total $86,090 · program services $86,090
-
24b · Other expenses: PROVISION FOR LOAN LOSSES
total $49,035 · program services $49,035
-
24c · Other expenses: DEBIT CARD PROGRAM EXPENSE
total $321,888 · program services $321,888
-
24d · Other expenses: PROFESSIONAL & OUTSIDE SVCS
total $200,086 · program services $200,086
-
24e · All other expenses
total $294,749 · program services $294,749
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $617,723 · end of year $602,200
-
2 · Savings and temporary cash investments
beginning of year $8,558,015 · end of year $8,826,700
-
5 · Loans and receivables from officers and key people
beginning of year $246,639 · end of year $247,363
-
7 · Other notes and loans receivable
beginning of year $62,026,338 · end of year $58,868,457
-
9 · Prepaid expenses and deferred charges
beginning of year $742,269 · end of year $625,089
-
10a · Land, buildings and equipment: cost or other basis
$4,645,964
-
10b · Land, buildings and equipment: accumulated depreciation
$1,667,843
-
10c · Land, buildings and equipment, net
beginning of year $3,038,751 · end of year $2,978,121
-
11 · Investments: publicly traded securities
beginning of year $996,440 · end of year $550,798
-
13 · Investments: program-related
beginning of year $1,140,528 · end of year $1,127,597
-
15 · Other assets
beginning of year $361,926 · end of year $350,016
-
17 · Accounts payable and accrued expenses
beginning of year $1,037,938 · end of year $892,374
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $71,477,967 · end of year $67,878,252
-
31 · Retained earnings, endowment or other funds
beginning of year $5,212,724 · end of year $5,405,715
Mission and programs · 2023
Mission
TNCONNECT CREDIT UNION IS A STATE-CHARTERED CREDIT UNION MUTUALLY OWNED BY 7,131 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES, MAINTAIN ACCOUNTS, AND TO MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED CURRENTLY FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.
-
OPERATED DURING 2023 AS A STATE-CHARTERED CREDIT UNION, MUTUALLY OWNED BY OUR 7,131 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES, MAINTAIN ACCOUNTS, AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED CURRENTLY FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED. ALL OF OUR REVENUES AND EXPENSES ARE RELATED TO THIS PURPOSE.
Expenses $3,302,039
As filed on the 2023 return.
Listed in Part VII
-
Martin T BradleyMARTIN T BRADLEY
PRESIDENTCEO
- Total calculated
- $123,453
- From this org
- $123,453
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Tammy T HillTAMMY T HILL
EXECUTIVE VICE PRESIDENT
- Total calculated
- $101,354
- From this org
- $101,354
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Thomas LumadueTHOMAS LUMADUE
CHIEF OPERATIONS OFFICER
- Total calculated
- $74,415
- From this org
- $74,415
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Suzanne SummervilleSUZANNE SUMMERVILLE
CHIEF FINANCIAL OFFICER
- Total calculated
- $64,879
- From this org
- $64,879
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Cynthia JohnsonCYNTHIA JOHNSON
CHIEF OPERATIONS OFFICER
- Total calculated
- $64,630
- From this org
- $64,630
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Cassidy CarrollCASSIDY CARROLL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Chuck BrantleyCHUCK BRANTLEY
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Daniel GoleachDANIEL GOLEACH
BOARD VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Timothy SawyerTIMOTHY SAWYER
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Ron HutchensRON HUTCHENS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Melvin TeasterMELVIN TEASTER
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Joann JeterJOANN JETER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
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
- 26 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421299349300622
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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