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Nonprofiteer
← GALLATIN STEAM PLANT CREDIT UNION

Form 990 for tax year 2023

Filed by GALLATIN STEAM PLANT CREDIT UNION.

Totals

Total revenue
$318,221
Total expenses
$260,431
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$259,319
Investment income
$53,677
Other revenue
$5,225
Total assets, end of year
$6,873,918
Total liabilities, end of year
$5,724,981
Net assets or fund balances, end of year
$1,148,937
Program services expenses (Part IX)
$0
Management and general expenses
$260,431
Fundraising expenses
$0
Program service expenses (Part III)
$260,431

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 $249,167 · related or exempt $249,167

  • 2b · Program service revenue: FEE INCOME

    total $10,152 · related or exempt $10,152

  • 3 · Investment income

    total $53,677 · related or exempt $53,677

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $5,225 · related or exempt $5,225

  • 11e · Other revenue, total

    $5,225

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $99,604 · management and general $99,604

  • 10 · Payroll taxes

    total -$33,076 · management and general -$33,076

  • 13 · Office expenses

    total $45,284 · management and general $45,284

  • 19 · Conferences, conventions and meetings

    total $473 · management and general $473

  • 20 · Interest

    total $68,155 · management and general $68,155

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $40,000 · management and general $40,000

  • 24b · Other expenses: PROF & OUTSIDE SERVICES

    total $21,218 · management and general $21,218

  • 24c · Other expenses: LOAN SERVICING EXPENSE

    total $11,451 · management and general $11,451

  • 24d · Other expenses: EXAM FEES

    total $5,000 · management and general $5,000

  • 24e · All other expenses

    total $2,322 · management and general $2,322

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,033,890 · end of year $1,164,911

  • 2 · Savings and temporary cash investments

    beginning of year $1,542,000 · end of year $1,194,000

  • 4 · Accounts receivable

    beginning of year $4,484,633 · end of year $4,398,075

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,279 · end of year $1,109

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

    $13,958

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

    $13,954

  • 10c · Land, buildings and equipment, net

    beginning of year $5 · end of year $4

  • 12 · Investments: other securities

    beginning of year $45,144 · end of year $45,144

  • 15 · Other assets

    beginning of year $60,661 · end of year $70,675

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,956 · end of year $40,078

  • 25 · Other liabilities

    beginning of year $6,059,508 · end of year $5,684,903

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,091,148 · end of year $1,148,937

Mission and programs · 2023

Mission

CREDIT UNION - TO PROVIDED SERVICES FOR APPROXIMATELY 649 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.

Activities or mission (Part I)

CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.

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

    Expenses $192,276

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

    Expenses $68,155

As filed on the 2023 return.

Listed in Part VII

  • Will Dennis

    MANAGER

    Total calculated
    $79,426
    From this org
    $79,426
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Joe Cornwell

    BOARD PRESID

    Total calculated
    $0
    Hours/week
    1

  • Mitchell Ray

    BOARD VICE-P

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Davis

    BOARD TREASU

    Total calculated
    $0
    Hours/week
    1

  • Josh Fortenberry

    BOARD SECRET

    Total calculated
    $0
    Hours/week
    1

  • Robert Patterson

    BOARD/SC MEM

    Total calculated
    $0
    Hours/week
    1

  • Chris Conger

    SUPERVISORY

    Total calculated
    $0
    Hours/week
    1

  • Kriste Lanius

    SUPERVISORY

    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
26 April 2024
IRS schema version
2023v5.0
Source object
202401209349300915

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