Totals
- Total revenue
- $9,386,778
- Total expenses
- $7,082,736
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $9,386,778
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $165,827,709
- Total liabilities, end of year
- $138,677,159
- Net assets or fund balances, end of year
- $27,150,550
- 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 TO M
total $6,986,326 · related or exempt $6,986,326
-
2b · Program service revenue: FINANCIAL SERVICE FEE
total $2,044,102 · related or exempt $2,002,614 · unrelated business $41,488
-
2c · Program service revenue: INVESTMENT INCOME
total $356,350 · related or exempt $356,350
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $546,304
-
7 · Other salaries and wages
total $1,453,983
-
8 · Pension plan contributions
total $291,662
-
9 · Other employee benefits
total $227,045
-
10 · Payroll taxes
total $142,777
-
11b · Fees: legal
total $14,803
-
11c · Fees: accounting
total $47,448
-
11g · Fees: other
total $200,188
-
12 · Advertising and promotion
total $78,362
-
13 · Office expenses
total $202,743
-
14 · Information technology
total $8,915
-
16 · Occupancy
total $334,166
-
17 · Travel
total $67,985
-
19 · Conferences, conventions and meetings
total $5,166
-
20 · Interest
total $59,530
-
22 · Depreciation, depletion and amortization
total $153,776
-
24a · Other expenses: COST OF FINANCIAL SERVI
total $1,498,502
-
24b · Other expenses: MEMBER SHARE DIVIDENDS
total $1,066,014
-
24c · Other expenses: PROVISION FOR LOAN LOSS
total $420,000
-
24d · Other expenses: OTHER OPERATING EXPENSE
total $186,868
-
24e · All other expenses
total $76,499
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,552,834 · end of year $1,401,267
-
7 · Other notes and loans receivable
beginning of year $120,437,525 · end of year $130,866,839
-
9 · Prepaid expenses and deferred charges
beginning of year $135,799 · end of year $225,060
-
10a · Land, buildings and equipment: cost or other basis
$5,648,513
-
10b · Land, buildings and equipment: accumulated depreciation
$2,919,625
-
10c · Land, buildings and equipment, net
beginning of year $2,877,660 · end of year $2,728,888
-
13 · Investments: program-related
beginning of year $39,989,971 · end of year $28,824,928
-
15 · Other assets
beginning of year $1,563,724 · end of year $1,780,727
-
17 · Accounts payable and accrued expenses
beginning of year $4,718,983 · end of year $1,626,336
-
24 · Unsecured notes and loans payable
beginning of year $2,000,000 · end of year $1,000,000
-
25 · Other liabilities
beginning of year $133,540,519 · end of year $136,050,823
-
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 $26,298,011 · end of year $27,150,550
Mission and programs · 2022
Mission
COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.
Activities or mission (Part I)
COOPERATIVE CREDIT UNION
-
CODE OF ALABAMA, SEC 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. NAHEOLA CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, PROVIDES THESE SERVICES TO ITS MEMBERS WHO ARE PRIMARILY RESIDENTS OF CHOCTAW, MARENGO, WASHINGTON, CLARKE, SUMTER, HALE, PERRY, GREENE, MOBILE, ESCAMBIA, OR BALDWIN COUNTY IN THE STATE OF ALABAMA. THE CREDIT UNION'S FIELD OF MEMBERSHIP IS ALSO OPEN TO ANYONE WORKING, PERFORMING BUSINESS, OR ATTENDING A CHURCH IN THOSE COUNTIES. AT DECEMBER 31, 2022, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 11,326 MEMBERS.
As filed on the 2022 return.
Listed in Part VII
-
John R RamseyJOHN R RAMSEY
BOARD - MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Willard E McDonaldWILLARD E MCDONALD
BOARD - CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Joseph M McIlwainJOSEPH M MCILWAIN
BOARD - SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Dr Joseph M MoodyDR JOSEPH M MOODY
BOARD - MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
William S AdamsWILLIAM S ADAMS
BOARD - MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Cory W MartinCORY W MARTIN
BOARD - VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Lynette M BarkleyLYNETTE M BARKLEY
BOARD - MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Tony W JacksonTONY W JACKSON
SUPERVISORY COMMITTEE CHAI
- Total calculated
- $0
- Hours/week
- 1
-
Avie N LindseyAVIE N LINDSEY
SUPERVISORY COMMITTEE MEMB
- Total calculated
- $0
- Hours/week
- 1
-
William TraegerWILLIAM TRAEGER
SUPERVISORY COMMITTEE MEMB
- Total calculated
- $0
- Hours/week
- 1
-
Mark JohnsonMARK JOHNSON
CEO
- Total calculated
- $247,079
- From this org
- $195,000
- From related orgs
- $0
- Other
- $52,079
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $180,000
- Bonus
- $15,000
- Other
- $0
- Deferred
- $23,268
- Nontaxable benefits
- $28,811
- Filer's total
- $247,079
-
Jeffrey HastyJEFFREY HASTY
CFO
- Total calculated
- $158,697
- From this org
- $131,512
- From related orgs
- $0
- Other
- $27,185
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $107,600
- Bonus
- $8,600
- Other
- $15,312
- Deferred
- $4,631
- Nontaxable benefits
- $22,554
- Filer's total
- $158,697
-
Charles Morgan ReynoldsCHARLES MORGAN REYNOLDS
COO
- Total calculated
- $140,528
- From this org
- $111,270
- From related orgs
- $0
- Other
- $29,258
- Hours/week
- 40
-
Charles E SingletonCHARLES E SINGLETON
AREA PRESIDENT
- Total calculated
- $180,824
- From this org
- $157,300
- From related orgs
- $0
- Other
- $23,524
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $145,300
- Bonus
- $12,000
- Other
- $0
- Deferred
- $17,001
- Nontaxable benefits
- $6,523
- Filer's total
- $180,824
-
James StanfordJAMES STANFORD
SR VP LENDING
- Total calculated
- $163,408
- From this org
- $135,900
- From related orgs
- $0
- Other
- $27,508
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $125,500
- Bonus
- $10,400
- Other
- $0
- Deferred
- $23,068
- Nontaxable benefits
- $4,440
- Filer's total
- $163,408
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
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Independent compensation consultant
- 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
The filer's explanations (Part III)
- PART I, LINE 1A
- NCU COVERS THE MONTHLY DEMOPOLIS COUNTRY CLUB DUES FOR MARK JOHNSON (CEO), JEFFREY HASTY (CFO), CHARLES SINGLETON (AREA PRESIDENT), AND CHARLES MORGAN REYNOLDS (COO). THE CLUB INVOICES NCU DIRECTLY FOR ALL BUT MR. REYNOLDS, WHO PAYS HIS DUES PERSONALLY AND IS REIMBURSED BY NCU VIA DIRECT DEPOSIT UPON SUBMISSION OF THE MONTHLY INVOICE.
- PART I, LINE 3
- THE CREDIT UNION'S BOARD OF DIRECTORS DETERMINES THE CEO'S COMPENSATION ANNUALLY WITH THE ASSISTANCE OF A CUSTOM SALARY MATRIX FORMULATED BY AN INDEPENDENT COMPENSATION CONSULTANT TO MORE CLOSELY FIT THE CREDIT UNION'S MARKET.
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
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349306335
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