Totals
- Total revenue
- $76,294,666
- Total expenses
- $63,024,332
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $47,815,360
- Investment income
- $5,461,425
- Other revenue
- $23,017,881
- Total assets, end of year
- $1,640,689,087
- Total liabilities, end of year
- $1,540,705,228
- Net assets or fund balances, end of year
- $99,983,859
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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: LOAN INTEREST INCOME
total $47,815,360 · related or exempt $47,815,360
-
3 · Investment income
total $5,684,791 · excluded $5,684,791
-
5 · Royalties
total $692,970 · excluded $692,970
-
6a · Gross rents
real property $8,000
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $8,000
-
6d · Net rental income or loss
total $8,000 · excluded $8,000
-
7a · Gross sales of assets other than inventory
securities $21,507,274
-
7b · Less cost or other basis and sales expenses
securities $21,730,640
-
7c · Gain or loss
securities -$223,366
-
7d · Net gain or loss
total -$223,366 · excluded -$223,366
-
11a · Other revenue: INTERCHANGE ACCOUNT CHARGES
total $8,162,650 · related or exempt $8,162,650
-
11b · Other revenue: NSF ACCOUNT CHARGES
total $7,224,322 · related or exempt $7,224,322
-
11c · Other revenue: OTHER ACCOUNT AND LOAN FEES
total $4,666,998 · related or exempt $4,666,998
-
11d · All other revenue
total $2,262,941 · related or exempt $2,262,784 · unrelated business $157
-
11e · Other revenue, total
$22,316,911
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $2,228,191
-
7 · Other salaries and wages
total $15,018,894
-
8 · Pension plan contributions
total $1,482,357
-
9 · Other employee benefits
total $2,534,277
-
10 · Payroll taxes
total $1,352,667
-
11b · Fees: legal
total $307,694
-
11c · Fees: accounting
total $111,264
-
11g · Fees: other
total $1,005,624
-
12 · Advertising and promotion
total $1,827,158
-
13 · Office expenses
total $7,841,929
-
14 · Information technology
total $1,179,299
-
16 · Occupancy
total $1,609,208
-
17 · Travel
total $212,010
-
19 · Conferences, conventions and meetings
total $307,696
-
20 · Interest
total $9,142,786
-
22 · Depreciation, depletion and amortization
total $2,292,358
-
23 · Insurance
total $44,182
-
24a · Other expenses: CHECK & LOAN SERVICING
total $9,445,395
-
24b · Other expenses: BAD DEBTS
total $3,618,872
-
24c · Other expenses: OTHER OPERATING EXPENSE
total $926,365
-
24d · Other expenses: CASH OVER (SHORT)
total $328,323
-
24e · All other expenses
total $207,783
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $24,487,527 · end of year $26,335,695
-
2 · Savings and temporary cash investments
beginning of year $178,460,096 · end of year $39,870,132
-
5 · Loans and receivables from officers and key people
beginning of year $17,662,132 · end of year $18,171,902
-
7 · Other notes and loans receivable
beginning of year $847,941,301 · end of year $1,244,649,317
-
9 · Prepaid expenses and deferred charges
beginning of year $6,768,883 · end of year $10,570,385
-
10a · Land, buildings and equipment: cost or other basis
$70,442,553
-
10b · Land, buildings and equipment: accumulated depreciation
$23,434,509
-
10c · Land, buildings and equipment, net
beginning of year $40,531,283 · end of year $47,008,044
-
11 · Investments: publicly traded securities
beginning of year $9,096,400 · end of year $10,010,705
-
12 · Investments: other securities
beginning of year $247,886,214 · end of year $212,038,462
-
13 · Investments: program-related
beginning of year $602,435 · end of year $602,435
-
14 · Intangible assets
beginning of year $372,500 · end of year $2,549,723
-
15 · Other assets
beginning of year $27,113,335 · end of year $28,882,287
-
17 · Accounts payable and accrued expenses
beginning of year $7,792,793 · end of year $11,649,654
-
23 · Secured mortgages and notes payable
beginning of year $5,000,000 · end of year $133,900,000
-
24 · Unsecured notes and loans payable
beginning of year $30,000,000 · end of year $48,500,000
-
25 · Other liabilities
beginning of year $1,243,905,021 · end of year $1,346,655,574
-
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 $114,224,292 · end of year $99,983,859
Mission and programs · 2022
Mission
TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS
-
134,896 MEMBERS SERVED TO PROMOTE THRIFT OPPORTUNITIES AND LOW COST LOANS
As filed on the 2022 return.
Listed in Part VII
-
Reba EssaryREBA ESSARY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Casey TaylorCASEY TAYLOR
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Charlotte HarrisCHARLOTTE HARRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lynne AprilLYNNE APRIL
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Mark NelsonMARK NELSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marcus JonesMARCUS JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thomas WestTHOMAS WEST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert RileyROBERT RILEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ron DulekRON DULEK
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa EvansLISA EVANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony JohnsonTONY JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael GoodmanMICHAEL GOODMAN
CIO
- Total calculated
- $266,525
- From this org
- $242,363
- From related orgs
- $0
- Other
- $24,162
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $201,882
- Bonus
- $13,022
- Other
- $27,459
- Deferred
- $20,135
- Nontaxable benefits
- $4,027
- Filer's total
- $266,525
-
June LandrumJUNE LANDRUM
COO
- Total calculated
- $247,642
- From this org
- $220,571
- From related orgs
- $0
- Other
- $27,071
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $172,363
- Bonus
- $14,648
- Other
- $33,560
- Deferred
- $19,423
- Nontaxable benefits
- $7,648
- Filer's total
- $247,642
-
Jim PenningtonJIM PENNINGTON
VP, COLLECTIONS
- Total calculated
- $184,269
- From this org
- $161,724
- From related orgs
- $0
- Other
- $22,545
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $132,105
- Bonus
- $10,466
- Other
- $19,153
- Deferred
- $14,821
- Nontaxable benefits
- $7,724
- Filer's total
- $184,269
-
Stephen K SwoffordSTEPHEN K SWOFFORD
CEO/PRESIDENT
- Total calculated
- $497,980
- From this org
- $450,800
- From related orgs
- $0
- Other
- $47,180
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $400,000
- Bonus
- $16,000
- Other
- $34,800
- Deferred
- $37,477
- Nontaxable benefits
- $9,703
- Filer's total
- $497,980
-
Eleanor BrownELEANOR BROWN
CFO
- Total calculated
- $253,658
- From this org
- $225,657
- From related orgs
- $0
- Other
- $28,001
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $181,450
- Bonus
- $16,170
- Other
- $28,037
- Deferred
- $19,272
- Nontaxable benefits
- $8,729
- Filer's total
- $253,658
-
Michael R ShultsMICHAEL R SHULTS
VP OF INFORMATION SYSTEMS
- Total calculated
- $224,257
- From this org
- $199,256
- From related orgs
- $0
- Other
- $25,001
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $152,766
- Bonus
- $16,311
- Other
- $30,179
- Deferred
- $17,164
- Nontaxable benefits
- $7,837
- Filer's total
- $224,257
-
Benson P BollingBENSON P BOLLING
CHIEF LENDING OFFICER
- Total calculated
- $246,832
- From this org
- $223,660
- From related orgs
- $0
- Other
- $23,172
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $170,585
- Bonus
- $15,492
- Other
- $37,583
- Deferred
- $19,152
- Nontaxable benefits
- $4,020
- Filer's total
- $246,832
-
Tommy CobbTOMMY COBB
CHIEF DEVELOPMENT OFFICER
- Total calculated
- $307,028
- From this org
- $282,124
- From related orgs
- $0
- Other
- $24,904
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $182,714
- Bonus
- $28,921
- Other
- $70,489
- Deferred
- $17,604
- Nontaxable benefits
- $7,300
- Filer's total
- $307,028
-
Joseph HardyJOSEPH HARDY
MANAGER OF OUTSIDE SALES
- Total calculated
- $197,239
- From this org
- $172,511
- From related orgs
- $0
- Other
- $24,728
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $106,169
- Bonus
- $63,381
- Other
- $2,961
- Deferred
- $17,992
- Nontaxable benefits
- $6,736
- Filer's total
- $197,239
-
Brandi McKinneyBRANDI MCKINNEY
AVP, HUMAN RESOURCES
- Total calculated
- $183,438
- From this org
- $156,367
- From related orgs
- $0
- Other
- $27,071
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $138,862
- Bonus
- $14,649
- Other
- $2,856
- Deferred
- $19,423
- Nontaxable benefits
- $7,648
- Filer's total
- $183,438
-
Ajaykumar GuptaAJAYKUMAR GUPTA
MANAGER, NETWORK SERVICES
- Total calculated
- $166,114
- From this org
- $147,755
- From related orgs
- $0
- Other
- $18,359
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $138,150
- Bonus
- $5,301
- Other
- $4,304
- Deferred
- $14,959
- Nontaxable benefits
- $3,400
- Filer's total
- $166,114
-
Elizabeth ColeELIZABETH COLE
AVP, BRANCH OPERATIONS
- Total calculated
- $166,293
- From this org
- $146,597
- From related orgs
- $0
- Other
- $19,696
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $109,641
- Bonus
- $10,797
- Other
- $26,159
- Deferred
- $12,518
- Nontaxable benefits
- $7,178
- Filer's total
- $166,293
-
Jennifer BrowningJENNIFER BROWNING
ACUIS PROGRAM MANAGER
- Total calculated
- $187,521
- From this org
- $165,537
- From related orgs
- $0
- Other
- $21,984
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $159,953
- Bonus
- $2,884
- Other
- $2,700
- Deferred
- $15,088
- Nontaxable benefits
- $6,896
- Filer's total
- $187,521
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 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- THE FOLLOWING OFFICERS PARTICIPATED IN THE NONQUALIFIED RETIREMENT PLAN: STEPHEN SWOFFORD ELEANOR BROWN BENSON BOLLING THOMAS COBB MICHAEL GOODMAN MICHAEL SHULTS JIM PENNINGTON JUNE LANDRUM ELIZABETH COLE BRANDI MCKINNEY
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
ALABAMA CU SERVICES INC
C · FINANCIAL SERVICES · AL · 100% owned · share of income $1,685,946 · share of assets $2,402,264 · controlled entity
Directly controlled by ALABAMA CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313179349306811
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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