Skip to content
Nonprofiteer
← KNOX COUNTY EMPLOYEES CREDIT UNION

Form 990 for tax year 2024

Filed by KNOX COUNTY EMPLOYEES CREDIT UNION.

Totals

Total revenue
$622,639
Total expenses
$487,750
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$449,279
Investment income
$173,360
Other revenue
$0
Total assets, end of year
$11,960,337
Total liabilities, end of year
$9,909,375
Net assets or fund balances, end of year
$2,050,962
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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 ON LOANS

    total $369,658 · related or exempt $369,658 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: INTERCHANGE FEES

    total $49,687 · related or exempt $49,687 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: SERVICE FEES

    total $28,017 · related or exempt $28,017 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: MEMBER ELECT INSURANCE

    total $1,558 · related or exempt $1,558 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: MISCELLANEOUS

    total $359 · related or exempt $359 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $173,360 · related or exempt $173,360 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $72,800

  • 7 · Other salaries and wages

    total $133,084

  • 8 · Pension plan contributions

    total $8,861

  • 9 · Other employee benefits

    total $10,276

  • 10 · Payroll taxes

    total $16,121

  • 11c · Fees: accounting

    total $9,060

  • 12 · Advertising and promotion

    total $3,411

  • 13 · Office expenses

    total $44,209

  • 14 · Information technology

    total $88,790

  • 19 · Conferences, conventions and meetings

    total $3,395

  • 20 · Interest

    total $40,470

  • 21 · Payments to affiliates

    total $3,657

  • 22 · Depreciation, depletion and amortization

    total $174

  • 23 · Insurance

    total $11,096

  • 24a · Other expenses: FED ATM FEES

    total $31,769

  • 24b · Other expenses: STATE EXAM

    total $6,000

  • 24c · Other expenses: PROVISION FOR LOAN LOSS

    total $4,000

  • 24e · All other expenses

    total $577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $169,740 · end of year $171,927

  • 2 · Savings and temporary cash investments

    beginning of year $3,463,035 · end of year $4,768,639

  • 5 · Loans and receivables from officers and key people

    beginning of year $123,269 · end of year $97,507

  • 7 · Other notes and loans receivable

    beginning of year $7,186,006 · end of year $6,788,264

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,678 · end of year $28,029

  • 15 · Other assets

    beginning of year $121,771 · end of year $105,971

  • 17 · Accounts payable and accrued expenses

    beginning of year -$7,993 · end of year $34,695

  • 25 · Other liabilities

    beginning of year $9,178,419 · end of year $9,874,680

  • 29 · Capital stock, trust principal or current funds

    beginning of year $326,322 · end of year $366,322

  • 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 $1,589,751 · end of year $1,684,640

Mission and programs · 2024

Mission

PROVIDE FINANCIAL SERVICES FOR MEMBERS, ENCOURAGE SOUND FINANCIAL CHOICES REGARDING SAVINGS AND LOANS. ALL PEOPLE EMPLOYED BY KNOX COUNTY GOVERNMENT AND THEIR IMMEDIATE FAMILY MEMBERS ARE EILIGIBLE FOR MEMBERSHIP.

Activities or mission (Part I)

NOT FOR PROFIT COOPERATIVE FINANCIAL BUSINESS SERVING A SPECIFIC GROUP (MEMBERSHIP) IN REGARD TO SHARE ACCOUNTS, SHARE DRAFT ACCOUNTS, IRA ACCOUNTS, CERTIFICATE OF DEPOSITS, CONSUMER LOANS (COLLATERALIZED AND UNSECURED)

  • MEMBERS ARE ENCOURAGED TO SAVE THROUGH DIFFERENT ACCOUNTS. REGULAR SHARE ACCOUNTS EARN DIVIDENDS. THE MEMBER CAN DEPOSIT OR WITHDRAW WITHOUT PENALTY. HIGHER DIVIDENDS ARE PAID FOR LONGER TERM ACCOUNTS SUCH AS IRAs OR CERTIFICATES OF DEPOSIT.

  • MEMBERS CAN APPLY FOR LOANS TO PURCHASE AUTOS OR OTHER COLLATERAL OR FOR PERSONAL REASONS. THE MEMBER CREDIT REPORT AND FINANCIAL CONDITION IS EVALUATED AND THE LOAN IS EITHER APPROVED OR DENIED.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kerri Haynes

    MANAGER

    Total calculated
    $72,800
    From this org
    $72,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jennifer Schroeder

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • Jeff Clark

    BOARD VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • Pearl Mathis

    BOARD SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • Richie Beeler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Justin Henson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Nelda Hill

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Allison Rogers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Greg Valentine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

  • Dwight Van De Vate

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
29 April 2025
IRS schema version
2024v5.0
Source object
202501279349300535

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.