Totals
- Total revenue
- $8,462,340
- Total expenses
- $6,122,684
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $8,462,340
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $187,319,143
- Total liabilities, end of year
- $172,884,154
- Net assets or fund balances, end of year
- $14,434,989
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $6,122,684
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 INCOME FROM L
total $4,924,903 · related or exempt $4,924,903
-
2b · Program service revenue: FINANCIAL SERVICE FEES
total $2,088,851 · related or exempt $2,009,750 · unrelated business $79,101
-
2c · Program service revenue: INVESTMENT INCOME
total $1,448,586 · related or exempt $1,448,586
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $421,525
-
7 · Other salaries and wages
total $1,653,897
-
8 · Pension plan contributions
total -$113,630
-
9 · Other employee benefits
total $224,703
-
10 · Payroll taxes
total $143,255
-
11b · Fees: legal
total -$7,625
-
11c · Fees: accounting
total $2,000
-
12 · Advertising and promotion
total $300,013
-
13 · Office expenses
total $141,985
-
16 · Occupancy
total $358,593
-
17 · Travel
total $23,416
-
20 · Interest
total $14,888
-
22 · Depreciation, depletion and amortization
total $270,280
-
23 · Insurance
total $54,973
-
24a · Other expenses: COST OF FINANCIAL SERVI
total $1,576,346
-
24b · Other expenses: MEMBER SHARE DIVIDENDS
total $912,014
-
24c · Other expenses: OTHER OPERATING EXPENSE
total $138,067
-
24d · Other expenses: ASSOCIATION DUES
total $7,984
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,831,315 · end of year $2,261,025
-
2 · Savings and temporary cash investments
beginning of year $24,627,753 · end of year $2,772,026
-
7 · Other notes and loans receivable
beginning of year $80,253,522 · end of year $108,704,112
-
9 · Prepaid expenses and deferred charges
beginning of year $207,008 · end of year $364,915
-
10a · Land, buildings and equipment: cost or other basis
$7,368,635
-
10b · Land, buildings and equipment: accumulated depreciation
$2,951,040
-
10c · Land, buildings and equipment, net
beginning of year $4,343,588 · end of year $4,417,595
-
13 · Investments: program-related
beginning of year $66,477,084 · end of year $62,500,805
-
15 · Other assets
beginning of year $6,111,698 · end of year $6,298,665
-
17 · Accounts payable and accrued expenses
beginning of year $974,715 · end of year $1,222,704
-
21 · Escrow or custodial account liability
beginning of year $82,346 · end of year $132,337
-
25 · Other liabilities
beginning of year $161,083,742 · end of year $171,529,113
-
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 $21,711,165 · end of year $14,434,989
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. ALATRUST CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE A VARIETY OF FINANCIAL SERVICES TO ITS MEMBERS, WHO ARE EMPLOYEES OF THE PUBLIC SCHOOLS LOCATED IN JEFFERSON, CALHOUN, WALKER, AND TALLADEGA COUNTIES AND THEIR RELATIVES. THE CREDIT UNION'S FIELD OF MEMBERSHIP ALSO INCLUDES SELECTED EMPLOYEE GROUPS AND INDIVIDUALS THAT RESIDE IN THESE COUNTIES. AS OF DECEMBER 31, 2022, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 12,323 MEMBERS.
Expenses $6,122,684
As filed on the 2022 return.
Listed in Part VII
-
Steve NixSTEVE NIX
CEO & BOARD TREASURER
- Total calculated
- $344,603
- From this org
- $291,951
- From related orgs
- $0
- Other
- $52,652
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $267,967
- Bonus
- $23,984
- Other
- $0
- Deferred
- $39,289
- Nontaxable benefits
- $13,363
- Filer's total
- $344,603
-
Dr Bascom Henry WoodwardDR BASCOM HENRY WOODWARD
CHAIRMAN OF THE BOARD
- Total calculated
- $0
- Hours/week
- 1
-
Donald DuckDONALD DUCK
DIRECTOR - SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Phillip WoodsPHILLIP WOODS
DIRECTOR - VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Martha WiseMARTHA WISE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Alvin WashingtonALVIN WASHINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr Simpson Berry JrDR SIMPSON BERRY JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ken WasmundKEN WASMUND
SUPERVISORY COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
John RobertsJOHN ROBERTS
SUPERVISORY COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Perry WardPERRY WARD
SUPERVISORY COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michelle CrumbleyMICHELLE CRUMBLEY
ACCOUNTING MANAGER
- Total calculated
- $76,922
- From this org
- $76,922
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Shelley McLaughlinSHELLEY MCLAUGHLIN
VP OF ADMINISTRATION
- Total calculated
- $133,824
- From this org
- $115,390
- From related orgs
- $0
- Other
- $18,434
- Hours/week
- 40
-
Kevin LottKEVIN LOTT
LOAN MANAGER
- Total calculated
- $120,633
- From this org
- $102,730
- From related orgs
- $0
- Other
- $17,903
- 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
- 3 · Written employment contract
- 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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · TO HELP THOSE IN OUR COMMUNITIES BE FINANCIALLY SMART AND HEALTHY · AL · controlled entity
Directly controlled by ALATRUST CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 30 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349306698
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