Form 990 for tax year 2023
Filed by JACK DANIEL EMPLOYEES CREDIT UNION.
Totals
- Total revenue
- $2,521,389
- Total expenses
- $2,132,038
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,803,725
- Investment income
- $411,128
- Other revenue
- $306,536
- Total assets, end of year
- $48,681,681
- Total liabilities, end of year
- $43,737,824
- Net assets or fund balances, end of year
- $4,943,857
- Program services expenses (Part IX)
- $1,760,923
- Management and general expenses
- $371,115
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 82.6% 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: Fee Income
total $150,188 · related or exempt $150,188
-
2b · Program service revenue: Loan Interest
total $1,653,537 · related or exempt $1,653,537
-
3 · Investment income
total $411,128 · related or exempt $411,128
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $16,344
-
6c · Rental income or loss
real property $16,344
-
6d · Net rental income or loss
total $16,344 · unrelated business $16,344
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Other Operating Income
total $290,192 · related or exempt $290,192
-
11e · Other revenue, total
$290,192
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $229,964 · management and general $229,964
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $296,054 · program services $296,054
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $63,610 · program services $57,249 · management and general $6,361
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $59,719 · program services $53,747 · management and general $5,972
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $34,365 · program services $30,929 · management and general $3,436
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $11,016 · program services $9,914 · management and general $1,102
-
20 · Interest
total $860,892 · program services $774,803 · management and general $86,089
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $38,292 · program services $34,463 · management and general $3,829
-
23 · Insurance
total $0
-
24a · Other expenses: Debit Card Processing Expense
total $175,849 · program services $175,849
-
24b · Other expenses: Loan Servicing Expense
total $100,307 · program services $90,276 · management and general $10,031
-
24c · Other expenses: Professional Services
total $80,651 · program services $72,586 · management and general $8,065
-
24d · Other expenses: Provision for Loan Losses
total $59,424 · program services $53,482 · management and general $5,942
-
24e · All other expenses
total $121,895 · program services $111,571 · management and general $10,324
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,967,900 · end of year $2,410,640
-
2 · Savings and temporary cash investments
beginning of year $5,601,656 · end of year $6,187,435
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $31,799,389 · end of year $33,805,868
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $445,953 · end of year $533,389
-
10a · Land, buildings and equipment: cost or other basis
$1,754,834
-
10b · Land, buildings and equipment: accumulated depreciation
$558,789
-
10c · Land, buildings and equipment, net
beginning of year $1,224,743 · end of year $1,196,045
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
beginning of year $4,725,435 · end of year $4,484,279
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $51,929 · end of year $64,025
-
17 · Accounts payable and accrued expenses
beginning of year $232,426 · end of year $345,829
-
25 · Other liabilities
beginning of year $41,129,619 · end of year $43,391,995
-
29 · Capital stock, trust principal or current funds
beginning of year $1,643,501 · end of year $1,703,970
-
31 · Retained earnings, endowment or other funds
beginning of year $2,811,459 · end of year $3,239,887
Mission and programs · 2023
Mission
To provide credit and financial services for approximately 2,800 members in the form of loan facilities and depository accounts including draft, savings, CD's, IRA's and other financial services.
Activities or mission (Part I)
Credit intermediary and financial services for membership
-
The organization provides loan facilities of various types including signature and collateralized varieties.
-
The organization provides depository services in a variety of accounts including savings, draft, certificates and retirement accounts.
As filed on the 2023 return.
Listed in Part VII
-
Pam Case
CEO
- Total calculated
- $111,756
- From this org
- $111,756
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jessica Horton
Compliance Offi
- Total calculated
- $61,499
- From this org
- $61,499
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Sunya Dangerfield
Operations
- Total calculated
- $56,709
- From this org
- $56,709
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Dale Stone
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Josh Hornaday
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Tommy Cauble
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Anthony T McKenzie
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Paul Fletcher
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Scott Parks
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Dusty Hardin
Supervisory
- Total calculated
- $0
- Hours/week
- 1
-
Camilla Shelton
Supervisory
- Total calculated
- $0
- Hours/week
- 1
-
Andrew Whitt
Supervisory
- Total calculated
- $0
- Hours/week
- 1
-
Lacey Ray
Credit Com
- Total calculated
- $0
- Hours/week
- 1
-
W Parks Norman
Credit Com
- Total calculated
- $0
- Hours/week
- 1
-
Norma Milligan
Credit Com
- Total calculated
- $0
- Hours/week
- 1
-
Anita Camp
Sec/Treasurer
- Total calculated
- $0
- Hours/week
- 1
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
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423199349303207
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