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Nonprofiteer
← ASSOCIATED CREDIT UNION FOUNDATION

Form 990 for tax year 2024

Filed by ASSOCIATED CREDIT UNION FOUNDATION.

Totals

Total revenue
$300,185
Total expenses
$243,460
Contributions and grants received
$294,986
Grants paid
$233,965
Program service revenue
$0
Investment income
$0
Other revenue
$5,199
Total assets, end of year
$162,115
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$162,115
Program services expenses (Part IX)
$234,939
Management and general expenses
$4,547
Fundraising expenses
$3,974
Program service expenses (Part III)
$234,939

Program services were 96.5% 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.

  • 1c · Fundraising events

    $68,437

  • 1d · Related organizations

    $63,475

  • 1f · All other contributions, gifts and grants

    $163,074

  • 8a · Fundraising events: gross income

    $17,109

  • 8a · Fundraising events: contributions included on line 1c

    $68,437

  • 8b · Fundraising events: direct expenses

    $31,348

  • 8c · Net income from fundraising events

    total -$14,239 · excluded -$14,239

  • 9a · Gaming: gross income

    $1,050

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $1,050 · excluded $1,050

  • 10a · Gross sales of inventory

    $33,816

  • 10b · Cost of goods sold

    $18,725

  • 10c · Net income from sales of inventory

    total $15,091 · excluded $15,091

  • 11a · Other revenue: REFUND/REIMBURSEMENT

    total $3,297 · excluded $3,297

  • 11e · Other revenue, total

    $3,297

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $219,965 · program services $219,965

  • 2 · Grants to domestic individuals

    total $14,000 · program services $14,000

  • 11c · Fees: accounting

    total $2,025 · management and general $2,025

  • 13 · Office expenses

    total $6,496 · management and general $2,522 · fundraising $3,974

  • 17 · Travel

    total $608 · program services $608

  • 19 · Conferences, conventions and meetings

    total $366 · program services $366

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $105,390 · end of year $162,115

  • 27 · Net assets without donor restrictions

    beginning of year $105,390 · end of year $162,115

Mission and programs · 2024

Mission

PROMOTE LOCAL AND COMMUNITY DEVELOPMENT.

  • TO PROVIDE FUNDING TO LOCAL NONPROFITS FOR OPERATIONAL PURPOSES.

    Expenses $234,939 · Grants $233,965

As filed on the 2024 return.

Listed in Part VII

  • C Lin Hodges CPA

    PRESIDENT, CEO, DIRECTOR

    Total calculated
    $1,073,940
    From this org
    $0
    From related orgs
    $1,022,059
    Other
    $51,881
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $712,540 related
    Bonus
    $0 + $198,000 related
    Other
    $0 + $111,519 related
    Deferred
    $0 + $27,600 related
    Nontaxable benefits
    $0 + $24,281 related
    Filer's total
    $0 + $1,073,940 related

  • Exceptional Harden

    CHAIRMAN

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Nancy J Garner

    VICE CHAIR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Jennifer H Chapin

    SECRETARY

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Tim F Kercheval

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • George M Clarke

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Charles Gehrmann

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Margaret L Pittman

    DIRECTOR

    Total calculated
    $15,000
    From this org
    $0
    From related orgs
    $15,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Keith Gettmann

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Doyle Spears

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Allen Bryan

    DIRECTOR

    Total calculated
    $16,500
    From this org
    $0
    From related orgs
    $16,500
    Other
    $0
    Hours/week
    1 + 1 related

  • John A Petros

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Keith Teamer

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Alex Bardi

    DIRECTOR

    Total calculated
    $18,000
    From this org
    $0
    From related orgs
    $18,000
    Other
    $0
    Hours/week
    1 + 1 related

  • Timothy G Bridges CPA

    CFO

    Total calculated
    $637,696
    From this org
    $0
    From related orgs
    $566,615
    Other
    $71,081
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $395,000 related
    Bonus
    $0 + $98,750 related
    Other
    $0 + $72,865 related
    Deferred
    $0 + $46,800 related
    Nontaxable benefits
    $0 + $24,281 related
    Filer's total
    $0 + $637,696 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE ASSOCIATED CREDIT UNION PROVIDES CERTAIN INDIVIDUALS WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS BEING FUNDED VIA LIFE INSURANCE POLICIES AND SPLIT DOLLAR LOAN AGREEMENTS HAVE BEEN ENTERED INTO WITH THE PARTICIPANTS OF THE EXECUTIVES COVERED UNDER THE PLAN. AS PART OF THE SPLIT DOLLAR LOAN AGREEMENTS, THE EXECUTIVES HAVE ASSIGNED THE POLICIES TO THE CREDIT UNION AS COLLATERAL. THIS ASSIGNMENT SECURES REPAYMENT OF ANY ADVANCES AND ACCRUED INTEREST FOR THE POLICY PREMIUMS AND ANY OTHER ADVANCES UNDER ANY AGREEMENT. THE LOANS HAVE A FIXED INTEREST RATE, WITH INTEREST ACCRUED MONTHLY AND CAPITALIZED AS PART OF THE TOTAL LOAN BALANCE ANNUALLY. TOTAL SPLIT DOLLAR LOANS AND ACCRUED INTEREST APPROXIMATED $11,192,003 AND $10,733,000 AS OF DECEMBER 31, 2024 AND 2023, RESPECTIVELY. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THIS PLAN: C. LIN HODGES TIMOTHY G. BRIDGES

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

  • WILDERNESS WORKS

    $20,038

    FUNDING FOR PROGRAM MISSION

  • THE QUINN HOUSE

    $20,000

    GENERAL SUPPORT

  • JUNIOR ACHEIVEMENT OF GA

    $17,500

    FUNDING FOR PROGRAM MISSION

  • NEIGHBORHOOD COOPERATIVE MINISTRIES

    $15,000

    FUNDING FOR PROGRAM MISSION

  • CHILDREN'S HEALTHCARE OF ATLANTA

    $13,500

    FUNDING FOR PROGRAM MISSION

  • CHILD ENRICHMENT INC

    $10,000

    FUNDING FOR PROGRAM MISSION

  • NEIGHBORHOOD MEALS ON WHEELS

    $7,000

    FUNDING FOR PROGRAM MISSION

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523219349302942

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