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Nonprofiteer
← KNOXVILLE TVA EMPLOYEES CREDIT UNIO

Form 990 for tax year 2024

Filed by KNOXVILLE TVA EMPLOYEES CREDIT UNIO.

Totals

Total revenue
$296,934,710
Total expenses
$232,253,676
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$296,934,710
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,620,066,214
Total liabilities, end of year
$4,159,544,327
Net assets or fund balances, end of year
$460,521,887
Program services expenses (Part IX)
$232,253,676
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$232,253,676

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: INT ON LOANS TO MEMBERS

    total $206,262,124 · related or exempt $206,262,124

  • 2b · Program service revenue: INT ON INVESTMENTS

    total $28,325,502 · related or exempt $28,325,502

  • 2c · Program service revenue: FEE INCOME

    total $19,921,550 · related or exempt $19,921,550

  • 2d · Program service revenue: OTHER OPERATING INC

    total $43,470,268 · related or exempt $43,470,268

  • 2e · Program service revenue: LOSS ON EQUITY SECURITI

    total -$78,410 · related or exempt -$78,410

  • 2f · All other program service revenue

    total -$966,324 · related or exempt -$966,324

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $97,421,248 · program services $97,421,248

  • 5 · Compensation of officers, directors and key employees

    total $4,564,621 · program services $4,564,621

  • 7 · Other salaries and wages

    total $36,536,029 · program services $36,536,029

  • 8 · Pension plan contributions

    total $1,283,169 · program services $1,283,169

  • 9 · Other employee benefits

    total $15,724,658 · program services $15,724,658

  • 10 · Payroll taxes

    total $3,106,985 · program services $3,106,985

  • 12 · Advertising and promotion

    total $3,216,600 · program services $3,216,600

  • 13 · Office expenses

    total $32,874,424 · program services $32,874,424

  • 16 · Occupancy

    total $3,877,452 · program services $3,877,452

  • 19 · Conferences, conventions and meetings

    total $291,317 · program services $291,317

  • 24a · Other expenses: PROFOUTSIDE SERVICES

    total $9,234,514 · program services $9,234,514

  • 24b · Other expenses: LOAN SERVICING EXP

    total $4,206,771 · program services $4,206,771

  • 24c · Other expenses: CREDIT LOSS EXPENSE

    total $18,598,298 · program services $18,598,298

  • 24d · Other expenses: OTHER OPERATING EXPENSES

    total $1,317,590 · program services $1,317,590

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,992,921 · end of year $19,441,835

  • 2 · Savings and temporary cash investments

    beginning of year $486,362,075 · end of year $560,652,613

  • 7 · Other notes and loans receivable

    beginning of year $3,611,565,383 · end of year $3,863,520,441

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,554,916 · end of year $5,303,142

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

    $115,839,310

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

    $24,346,007

  • 10c · Land, buildings and equipment, net

    beginning of year $96,222,315 · end of year $91,493,303

  • 13 · Investments: program-related

    beginning of year $63,499,251 · end of year $52,792,863

  • 15 · Other assets

    beginning of year $19,158,778 · end of year $26,862,017

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,151,479 · end of year $36,091,910

  • 23 · Secured mortgages and notes payable

    beginning of year $178,970,531 · end of year $154,119,829

  • 25 · Other liabilities

    beginning of year $3,667,679,570 · end of year $3,969,332,588

  • 31 · Retained earnings, endowment or other funds

    beginning of year $394,554,059 · end of year $460,521,887

Mission and programs · 2024

Mission

STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR 287,427 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES THAT MAINTAIN ACCOUNTS AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.

  • STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR 287,427 MEMBERS, TO PROMOTE THRIFT, ISSUE SHARES, AND MAINTAIN ACCOUNTS AND MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED. ALL OF OUR REVENUES AND EXPENSES ARE RELATED TO THIS PURPOSE.

    Expenses $232,253,676 · Revenue $296,934,710

As filed on the 2024 return.

Listed in Part VII

  • Lynn Summers

    PRESIDENTCEO

    Total calculated
    $658,631
    From this org
    $639,141
    From related orgs
    $0
    Other
    $19,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $589,890
    Bonus
    $49,251
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $19,490
    Filer's total
    $658,631

  • Shannon York

    SENIOR VPCFO

    Total calculated
    $462,855
    From this org
    $434,103
    From related orgs
    $0
    Other
    $28,752
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $404,625
    Bonus
    $29,478
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $28,752
    Filer's total
    $462,855

  • Kimberley Trimble

    SENIOR VPCPO

    Total calculated
    $402,563
    From this org
    $380,276
    From related orgs
    $0
    Other
    $22,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $351,473
    Bonus
    $28,803
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $22,287
    Filer's total
    $402,563

  • Rebecca Kollenberg

    SENIOR VPCSO

    Total calculated
    $402,016
    From this org
    $379,832
    From related orgs
    $0
    Other
    $22,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,354
    Bonus
    $29,478
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $22,184
    Filer's total
    $402,016

  • Jeff Cotton

    CIO

    Total calculated
    $329,250
    From this org
    $309,012
    From related orgs
    $0
    Other
    $20,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $285,375
    Bonus
    $23,637
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $20,238
    Filer's total
    $329,250

  • Rusty Arwood

    VP BUSINESS SERVICES

    Total calculated
    $253,632
    From this org
    $230,535
    From related orgs
    $0
    Other
    $23,097
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,866
    Bonus
    $17,669
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $23,097
    Filer's total
    $253,632

  • Micka Vaden

    VP BRANCH OPERATIONS

    Total calculated
    $247,352
    From this org
    $225,882
    From related orgs
    $0
    Other
    $21,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,191
    Bonus
    $17,691
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $21,470
    Filer's total
    $247,352

  • Denise Odell

    VP ELECTRONIC SERVICES

    Total calculated
    $243,582
    From this org
    $221,526
    From related orgs
    $0
    Other
    $22,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,161
    Bonus
    $17,365
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $22,056
    Filer's total
    $243,582

  • Estate Of Glenn Siler

    FORMER CEO

    Total calculated
    $241,107
    From this org
    $241,107
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $241,107
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $241,107

  • Tracy Nichols

    VPCONTROLLER

    Total calculated
    $237,769
    From this org
    $215,280
    From related orgs
    $0
    Other
    $22,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,533
    Bonus
    $16,747
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $22,489
    Filer's total
    $237,769

  • Pamela Weston

    CTO

    Total calculated
    $215,159
    From this org
    $197,921
    From related orgs
    $0
    Other
    $17,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,685
    Bonus
    $15,236
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $17,238
    Filer's total
    $215,159

  • Keith Turner

    AVP IT OPERATIONS

    Total calculated
    $210,749
    From this org
    $190,200
    From related orgs
    $0
    Other
    $20,549
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,623
    Bonus
    $14,577
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $20,549
    Filer's total
    $210,749

  • Kimberly Elkins

    VP INTERNAL AUDIT

    Total calculated
    $195,276
    From this org
    $175,183
    From related orgs
    $0
    Other
    $20,093
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,754
    Bonus
    $13,429
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $20,093
    Filer's total
    $195,276

  • Mark Jenkins

    VP COMPLIANCE & RISK MANAGEMENT

    Total calculated
    $194,670
    From this org
    $178,045
    From related orgs
    $0
    Other
    $16,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,420
    Bonus
    $13,625
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $16,625
    Filer's total
    $194,670

  • Darren Lee

    VP CONSUMER LENDING

    Total calculated
    $191,327
    From this org
    $174,796
    From related orgs
    $0
    Other
    $16,531
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,400
    Bonus
    $13,396
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $16,531
    Filer's total
    $191,327

  • Kendra Carpenter

    VP REAL ESTATE LENDING

    Total calculated
    $181,486
    From this org
    $160,264
    From related orgs
    $0
    Other
    $21,222
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,334
    Bonus
    $11,930
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $21,222
    Filer's total
    $181,486

  • Charlotte Havely

    VP MARKETING

    Total calculated
    $180,826
    From this org
    $159,633
    From related orgs
    $0
    Other
    $21,193
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,137
    Bonus
    $12,496
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $21,193
    Filer's total
    $180,826

  • Mitchell Weaver

    TREASURER

    Total calculated
    $17,295
    From this org
    $17,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Bill Bonham

    BOARD MEMBER

    Total calculated
    $17,295
    From this org
    $17,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Sherry Vermillion

    BOARD MEMBER

    Total calculated
    $17,295
    From this org
    $17,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Andrea E Brackett

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • Paul Ivie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Cleston O Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Steve Hillenbrand

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Tom Heffernan

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0

  • Howard Rosser

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

None.

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
2024
Filed
10 April 2025
IRS schema version
2024v5.1
Source object
202501349349309330

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