Form 990 for tax year 2022
Filed by CREDIT UNIONS CHARTERED IN THE STATE OF TENNESSEE.
Totals
- Total revenue
- $23,967,218
- Total expenses
- $18,375,366
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $17,165,724
- Investment income
- $517,572
- Other revenue
- $6,283,922
- Total assets, end of year
- $584,412,377
- Total liabilities, end of year
- $538,617,887
- Net assets or fund balances, end of year
- $45,794,490
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $11,391,569
Program services were 0.0% 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 income loans
total $17,165,724 · related or exempt $17,165,724
-
3 · Investment income
total $517,572 · related or exempt $517,572
-
6a · Gross rents
real property $82,226
-
6c · Rental income or loss
real property $82,226
-
6d · Net rental income or loss
total $82,226 · related or exempt $82,226
-
8c · Net income from fundraising events
total $0
-
11a · Other revenue: Deposit service fees
total $3,484,579 · related or exempt $3,460,660 · unrelated business $23,919
-
11b · Other revenue: Loan services fees
total $2,046,901 · related or exempt $2,046,901
-
11c · Other revenue: Brokerage commissions
total $191,266 · related or exempt $191,266
-
11d · All other revenue
total $478,950 · related or exempt $384,732 · unrelated business $94,218
-
11e · Other revenue, total
$6,201,696
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,591,161
-
7 · Other salaries and wages
total $5,625,017
-
8 · Pension plan contributions
total $106,513
-
9 · Other employee benefits
total $826,791
-
10 · Payroll taxes
total $455,995
-
11b · Fees: legal
total -$5,745
-
11c · Fees: accounting
total $37,400
-
12 · Advertising and promotion
total $480,902
-
13 · Office expenses
total $776,994
-
14 · Information technology
total $886,974
-
16 · Occupancy
total $832,418
-
19 · Conferences, conventions and meetings
total $94,847
-
20 · Interest
total $1,198,216
-
22 · Depreciation, depletion and amortization
total $953,812
-
23 · Insurance
total $113,173
-
24a · Other expenses: Loan related expenses
total $1,521,671
-
24b · Other expenses: Debit/credit card processing
total $1,264,421
-
24c · Other expenses: Deposit services expenses
total $788,969
-
24d · Other expenses: Provision for loan losses
total $385,000
-
24e · All other expenses
total $440,837
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,518,363 · end of year $2,740,518
-
2 · Savings and temporary cash investments
beginning of year $47,037,728 · end of year $18,871,585
-
5 · Loans and receivables from officers and key people
beginning of year $542,834 · end of year $939,790
-
7 · Other notes and loans receivable
beginning of year $395,563,538 · end of year $482,055,064
-
9 · Prepaid expenses and deferred charges
beginning of year $11,037,775 · end of year $5,034,921
-
10a · Land, buildings and equipment: cost or other basis
$25,669,174
-
10b · Land, buildings and equipment: accumulated depreciation
$11,112,376
-
10c · Land, buildings and equipment, net
beginning of year $14,624,231 · end of year $14,556,798
-
11 · Investments: publicly traded securities
beginning of year $31,798,642 · end of year $34,250,214
-
13 · Investments: program-related
beginning of year $3,748,187 · end of year $2,637,701
-
15 · Other assets
beginning of year $16,072,161 · end of year $23,325,786
-
17 · Accounts payable and accrued expenses
beginning of year $5,992,330 · end of year $7,063,655
-
19 · Deferred revenue
end of year $474,000
-
23 · Secured mortgages and notes payable
end of year $8,500,000
-
25 · Other liabilities
beginning of year $472,418,066 · end of year $522,580,232
-
29 · Capital stock, trust principal or current funds
beginning of year $21,000,000 · end of year $25,000,000
-
31 · Retained earnings, endowment or other funds
beginning of year $23,533,063 · end of year $20,794,490
Mission and programs · 2022
Mission
State chartered credit union offering full range of financial services
Activities or mission (Part I)
State chartered credit union providing full range of financial service
-
Employee salaries and benefits
Expenses $8,605,477
-
Debit/credit card processing expenses
Expenses $1,264,421
-
Expenses $1,521,671
As filed on the 2022 return.
Listed in Part VII
-
Donna YoungDONNA YOUNG
President
- Total calculated
- $663,496
- From this org
- $498,522
- From related orgs
- $0
- Other
- $164,974
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $438,460
- Bonus
- $60,062
- Other
- not reported
- Deferred
- $164,974
- Nontaxable benefits
- $19,811
- Filer's total
- $683,307
-
Rob ByrdROB BYRD
CFO
- Total calculated
- $205,291
- From this org
- $195,376
- From related orgs
- $0
- Other
- $9,915
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,762
- Bonus
- $24,614
- Other
- not reported
- Deferred
- $9,915
- Nontaxable benefits
- $19,811
- Filer's total
- $225,102
-
Laura WilliamsonLAURA WILLIAMSON
Executive VP
- Total calculated
- $402,521
- From this org
- $313,375
- From related orgs
- $0
- Other
- $89,146
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $274,552
- Bonus
- $38,823
- Other
- not reported
- Deferred
- $89,146
- Nontaxable benefits
- $14,591
- Filer's total
- $417,112
-
Linda SummarellLINDA SUMMARELL
Chief Lending Officer
- Total calculated
- $563,063
- From this org
- $228,816
- From related orgs
- $0
- Other
- $334,247
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $203,542
- Bonus
- $25,274
- Other
- not reported
- Deferred
- $334,247
- Nontaxable benefits
- $11,785
- Filer's total
- $574,848
-
Rod PayneROD PAYNE
CIO
- Total calculated
- $218,304
- From this org
- $204,885
- From related orgs
- $0
- Other
- $13,419
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $179,611
- Bonus
- $25,274
- Other
- not reported
- Deferred
- $13,419
- Nontaxable benefits
- $14,591
- Filer's total
- $232,895
-
Kallar McCownKALLAR MCCOWN
VP Branch Operations
- Total calculated
- $157,103
- From this org
- $150,187
- From related orgs
- $0
- Other
- $6,916
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $131,872
- Bonus
- $18,315
- Other
- not reported
- Deferred
- $6,916
- Nontaxable benefits
- $66
- Filer's total
- $157,169
-
William FryeWILLIAM FRYE
VP Marketing
- Total calculated
- $140,561
- From this org
- $142,866
- From related orgs
- $0
- Other
- -$2,305
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $124,551
- Bonus
- $18,315
- Other
- not reported
- Deferred
- -$2,305
- Nontaxable benefits
- $19,811
- Filer's total
- $160,372
-
Stacie RawlsSTACIE RAWLS
VP Lending
- Total calculated
- $104,542
- From this org
- $109,762
- From related orgs
- $0
- Other
- -$5,220
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $100,958
- Bonus
- $8,804
- Other
- not reported
- Deferred
- -$5,220
- Nontaxable benefits
- $7,915
- Filer's total
- $112,457
-
Jason DilbeckJASON DILBECK
VP Lending
- Total calculated
- $102,948
- From this org
- $104,742
- From related orgs
- $0
- Other
- -$1,794
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $90,553
- Bonus
- $14,189
- Other
- not reported
- Deferred
- -$1,794
- Nontaxable benefits
- $9,541
- Filer's total
- $112,489
-
Thom RawlsTHOM RAWLS
Indirect Lending Mgr
- Total calculated
- $129,852
- From this org
- $122,924
- From related orgs
- $0
- Other
- $6,928
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $79,811
- Bonus
- $43,113
- Other
- not reported
- Deferred
- $6,928
- Nontaxable benefits
- $7,889
- Filer's total
- $137,741
-
Lisa OdyLISA ODY
Business Lending Mgr
- Total calculated
- $124,008
- From this org
- $100,447
- From related orgs
- $0
- Other
- $23,561
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $85,822
- Bonus
- $14,625
- Other
- not reported
- Deferred
- $23,561
- Nontaxable benefits
- $7,915
- Filer's total
- $131,923
-
Gary CowanGARY COWAN
Director
- Total calculated
- $0
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Roberta HillROBERTA HILL
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Lelan StatomLELAN STATOM
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Karen ClaboughKAREN CLABOUGH
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Aaron JewellAARON JEWELL
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Joey MacourekJOEY MACOUREK
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
-
Kimberly SilvusKIMBERLY SILVUS
Director
- Total calculated
- $0
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
- 11 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341319349302994
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