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Nonprofiteer
← ATLANTA POSTAL CREDIT UNION

Form 990 for tax year 2023

Filed by ATLANTA POSTAL CREDIT UNION.

Totals

Total revenue
$108,243,439
Total expenses
$105,167,670
Contributions and grants received
$5,961,203
Grants paid
$38,968
Program service revenue
$91,375,962
Investment income
$10,906,274
Other revenue
$0
Total assets, end of year
$2,424,911,153
Total liabilities, end of year
$2,141,360,063
Net assets or fund balances, end of year
$283,551,090
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.

  • 1e · Government grants (contributions)

    $5,961,203

  • 2a · Program service revenue: INTEREST ON LOANS

    total $68,765,954 · related or exempt $68,765,954

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $15,735,642 · related or exempt $15,735,642

  • 2c · Program service revenue: FEES

    total $6,835,158 · related or exempt $6,835,158

  • 2d · Program service revenue: SALES OF LOANS AND LEASES

    total $39,208 · related or exempt $39,208

  • 3 · Investment income

    total $10,858,572 · excluded $10,858,572

  • 7a · Gross sales of assets other than inventory

    securities $47,702

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $47,702

  • 7d · Net gain or loss

    total $47,702 · excluded $47,702

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $28,968

  • 2 · Grants to domestic individuals

    total $10,000

  • 5 · Compensation of officers, directors and key employees

    total $2,415,557

  • 7 · Other salaries and wages

    total $19,265,119

  • 8 · Pension plan contributions

    total $1,807,961

  • 9 · Other employee benefits

    total $4,096,272

  • 10 · Payroll taxes

    total $1,527,897

  • 11b · Fees: legal

    total $125,260

  • 11c · Fees: accounting

    total $156,900

  • 11g · Fees: other

    total $1,889,695

  • 12 · Advertising and promotion

    total $4,181,670

  • 13 · Office expenses

    total $3,285,056

  • 14 · Information technology

    total $3,597,579

  • 16 · Occupancy

    total $2,036,114

  • 17 · Travel

    total $244,211

  • 19 · Conferences, conventions and meetings

    total $717,542

  • 22 · Depreciation, depletion and amortization

    total $1,696,169

  • 24a · Other expenses: DIVIDENDS AND INTEREST

    total $35,747,563

  • 24b · Other expenses: LOAN SERVICING EXPENSE

    total $9,268,228

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $7,237,722

  • 24d · Other expenses: MEMBER INSURANCE

    total $576,875

  • 24e · All other expenses

    total $5,255,312

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,070,057 · end of year $3,655,284

  • 2 · Savings and temporary cash investments

    beginning of year $110,065,125 · end of year $189,243,375

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,491,000 · end of year $3,491,000

  • 7 · Other notes and loans receivable

    beginning of year $1,778,707,090 · end of year $1,589,168,184

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

    $50,989,700

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

    $16,739,115

  • 10c · Land, buildings and equipment, net

    beginning of year $21,599,313 · end of year $34,250,585

  • 12 · Investments: other securities

    beginning of year $469,169,647 · end of year $476,865,775

  • 15 · Other assets

    beginning of year $121,659,072 · end of year $128,236,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,108,824 · end of year $30,923,396

  • 25 · Other liabilities

    beginning of year $2,212,233,468 · end of year $2,110,436,667

  • 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 $270,419,012 · end of year $283,551,090

Mission and programs · 2023

Mission

TO HELP OUR MEMBERS ACHIEVE FINANCIAL SUCCESS BY PROVIDING EXCEPTIONAL PRODUCTS AND SERVICE.

  • CREDIT UNION PROVIDING LOANS AND DEPOSITS FOR OVER 105,190 MEMBERS. ATLANTA POSTAL CREDIT UNION IS A MEMBER-OWNED, NOT-FOR-PROFIT FINANCIAL COOPERATIVE, FOUNDED ON THE PREMISE THAT WORKING PEOPLE NEED A SAFE AND SOUND PLACE TO SAVE AND BORROW MONEY. GUIDING PRINCIPLES ARE UNIQUE: ONLY PEOPLE WHO ARE CREDIT UNION MEMBERS CAN BORROW HERE, LOANS SHOULD BE FOR PRUDENT AND PRODUCTIVE PURPOSES, AND A PERSON'S CHARACTER AND DESIRE TO REPAY A LOAN ARE CONSIDERED AS IMPORTANT AS A PERSON'S INCOME.

As filed on the 2023 return.

Listed in Part VII

  • TIM PAYNE

    BOARD SECRETARY

    Total calculated
    $21,658
    From this org
    $21,658
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • BLAKE GRAHAM

    PRESIDENT/DIRECTOR

    Total calculated
    $566,401
    From this org
    $516,093
    From related orgs
    $0
    Other
    $50,308
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $467,019
    Bonus
    $40,000
    Other
    $9,074
    Deferred
    $14,390
    Nontaxable benefits
    $35,918
    Filer's total
    $566,401

  • BETTY RANSON

    DIRECTOR

    Total calculated
    $19,060
    From this org
    $19,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • J T MIDDLEBROOKS

    DIRECTOR

    Total calculated
    $20,100
    From this org
    $20,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • PHILIP UPCHURCH

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • DAVID PATTERSON

    DIRECTOR

    Total calculated
    $24,180
    From this org
    $24,180
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • DAVID DISHAROON

    CHAIRMAN

    Total calculated
    $6,750
    From this org
    $6,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CHARLES HEAD

    CEO/DIRECTOR

    Total calculated
    $902,412
    From this org
    $877,614
    From related orgs
    $0
    Other
    $24,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $714,024
    Bonus
    $160,000
    Other
    $3,590
    Deferred
    $0
    Nontaxable benefits
    $24,798
    Filer's total
    $902,412

  • SARAH V MEEK

    DIRECTOR

    Total calculated
    $19,092
    From this org
    $19,092
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • MIKE CANTRELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GARY KYLE

    CFO

    Total calculated
    $539,489
    From this org
    $509,975
    From related orgs
    $0
    Other
    $29,514
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $487,475
    Bonus
    $22,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $29,514
    Filer's total
    $539,489

  • RACHAEL MARTIN

    CFO

    Total calculated
    $297,231
    From this org
    $269,768
    From related orgs
    $0
    Other
    $27,463
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,768
    Bonus
    $20,000
    Other
    $0
    Deferred
    $4,805
    Nontaxable benefits
    $22,658
    Filer's total
    $297,231

  • BELINDA BLAIR

    VP MARKETING

    Total calculated
    $210,894
    From this org
    $196,770
    From related orgs
    $0
    Other
    $14,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,832
    Bonus
    $10,000
    Other
    $74,938
    Deferred
    $5,294
    Nontaxable benefits
    $8,830
    Filer's total
    $210,894

  • RICHARD MCCALL

    CIO

    Total calculated
    $582,287
    From this org
    $546,885
    From related orgs
    $0
    Other
    $35,402
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,208
    Bonus
    $22,500
    Other
    $344,177
    Deferred
    $6,537
    Nontaxable benefits
    $28,865
    Filer's total
    $582,287

  • MICHAEL WRIGHT

    CPO

    Total calculated
    $258,578
    From this org
    $226,100
    From related orgs
    $0
    Other
    $32,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,600
    Bonus
    $22,500
    Other
    $0
    Deferred
    $6,170
    Nontaxable benefits
    $26,308
    Filer's total
    $258,578

  • MARY KELLEY

    CRO

    Total calculated
    $236,918
    From this org
    $210,380
    From related orgs
    $0
    Other
    $26,538
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,880
    Bonus
    $22,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $26,538
    Filer's total
    $236,918

  • JOHN ANDERSON

    CLO

    Total calculated
    $281,994
    From this org
    $237,564
    From related orgs
    $0
    Other
    $44,430
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,064
    Bonus
    $17,500
    Other
    $0
    Deferred
    $8,980
    Nontaxable benefits
    $35,450
    Filer's total
    $281,994

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
SPOUSE (OR GUEST) EXPENSE. THE SPOUSE OR GUEST OF EACH DIRECTOR, VOLUNTEER AND APCU OFFICER IS ENCOURAGED TO ATTEND APCU FUNCTIONS. APCU WILL PAY EXPENSES FOR THIS PERSON TO INCLUDE THE FOLLOWING BUT NOT LIMITED TO ALL TRAVEL, FOOD, LODGING, REGISTRATION, INCIDENTAL EXPENSES AND ENTERTAINMENT.
PART I, LINES 4A-B
SEVERANCE PAYMENTS SCOTT MCCALL $226,447 BELINDA BLAIR $ 74,937 PAYMENT FROM 457F PLAN UPON TERMINATION SCOTT MCCALL $ 117,729

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE CREDIT UNION LOAN SOURCE LLC

    C · ORIGINATES LOANS · GA · 25% owned · share of income $2,101,675 · share of assets $42,482,925

Provenance

Return type
form_990
Tax year
2023
Filed
18 September 2024
IRS schema version
2023v5.1
Source object
202422639349300107

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