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Nonprofiteer
← HEALTH CREDIT UNION

Form 990 for tax year 2024

Filed by HEALTH CREDIT UNION.

Totals

Total revenue
$1,821,286
Total expenses
$1,672,812
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,418,998
Investment income
$273,186
Other revenue
$129,102
Total assets, end of year
$28,029,196
Total liabilities, end of year
$21,862,341
Net assets or fund balances, end of year
$6,166,855
Program services expenses (Part IX)
$0
Management and general expenses
$1,672,812
Fundraising expenses
$0
Program service expenses (Part III)
$1,672,812

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 $1,320,163 · related or exempt $1,320,163

  • 2b · Program service revenue: FEE INCOME

    total $98,835 · related or exempt $98,835

  • 3 · Investment income

    total $273,186 · related or exempt $273,186

  • 11a · Other revenue: OTHER INCOME

    total $129,102 · related or exempt $129,102

  • 11e · Other revenue, total

    $129,102

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $416,180 · management and general $416,180

  • 8 · Pension plan contributions

    total $25,650 · management and general $25,650

  • 9 · Other employee benefits

    total $60,619 · management and general $60,619

  • 10 · Payroll taxes

    total $31,729 · management and general $31,729

  • 12 · Advertising and promotion

    total $31,743 · management and general $31,743

  • 13 · Office expenses

    total $51,502 · management and general $51,502

  • 16 · Occupancy

    total $28,554 · management and general $28,554

  • 19 · Conferences, conventions and meetings

    total $35,662 · management and general $35,662

  • 20 · Interest

    total $299,197 · management and general $299,197

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $326,231 · management and general $326,231

  • 24b · Other expenses: PROFESSIONAL & OUTSIDE

    total $287,218 · management and general $287,218

  • 24c · Other expenses: MISC NON-INTEREST EXP

    total $49,219 · management and general $49,219

  • 24d · Other expenses: LOAN SERVICING EXPENSE

    total $22,695 · management and general $22,695

  • 24e · All other expenses

    total $6,613 · management and general $6,613

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $955,795 · end of year $1,063,253

  • 2 · Savings and temporary cash investments

    beginning of year $7,192,000 · end of year $8,481,000

  • 4 · Accounts receivable

    beginning of year $17,825,957 · end of year $17,864,344

  • 9 · Prepaid expenses and deferred charges

    beginning of year $85,109 · end of year $84,975

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

    $7,572

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

    $4,900

  • 10c · Land, buildings and equipment, net

    beginning of year $7,653 · end of year $2,672

  • 12 · Investments: other securities

    beginning of year $250,000 · end of year $250,000

  • 15 · Other assets

    beginning of year $280,394 · end of year $282,952

  • 17 · Accounts payable and accrued expenses

    beginning of year $206,439 · end of year $397,131

  • 25 · Other liabilities

    beginning of year $20,372,089 · end of year $21,465,210

  • 31 · Retained earnings, endowment or other funds

    beginning of year $6,018,380 · end of year $6,166,855

Mission and programs · 2024

Mission

CREDIT UNION - TO PROVIDE SERVICES TO APPROXIMATELY 2,082 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.

  • THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.

    Expenses $1,373,615

  • THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.

    Expenses $299,197

As filed on the 2024 return.

Listed in Part VII

  • Charles Judson Davis

    CEO

    Total calculated
    $140,144
    From this org
    $122,079
    From related orgs
    $0
    Other
    $18,065
    Hours/week
    40

  • Daniel J Foster

    BOARD VICE C

    Total calculated
    $0
    Hours/week
    1

  • Stuart J Martin

    BOARD SECRET

    Total calculated
    $0
    Hours/week
    1

  • Lori McManus

    BOARD TREASU

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Ayers Millsap

    BOARD CHAIRP

    Total calculated
    $0
    Hours/week
    1

  • Lance Walden

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jim Alosi

    SC MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lamonte Augustus

    SC MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lannie Sears Mitchell

    SC CHAIR

    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
2024
Filed
12 May 2025
IRS schema version
2024v5.0
Source object
202501359349302425

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