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Nonprofiteer
← EMBLEM CREDIT UNION

Form 990 for tax year 2022

Filed by EMBLEM CREDIT UNION.

Totals

Total revenue
$23,248,388
Total expenses
$18,657,736
Contributions and grants received
$0
Grants paid
$99,850
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$18,657,736

Listed in Part VII

  • DR MARTHA LAVENDER

    BOARD CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • CHUCK RODEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SONNY KIRBY

    BOARD VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • DR TONY J CATANZARO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH SAWYER

    BOARD SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOAN LEE

    SUPERVISORY COMMITTEE MBR

    Total calculated
    $0
    Hours/week
    1

  • DR RONALD T MOSLEY

    SUPERVISORY COMMITTEE CHAIR

    Total calculated
    $1,426
    From this org
    $0
    From related orgs
    $0
    Other
    $1,426
    Hours/week
    1

  • TONY REDDICK

    BOARD CHAIRPERSON

    Total calculated
    $262
    From this org
    $0
    From related orgs
    $0
    Other
    $262
    Hours/week
    1

  • EMILY H MILLS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DANNY L GOLDEN

    SUPERVISORY COMMITTEE

    Total calculated
    $2,445
    From this org
    $0
    From related orgs
    $0
    Other
    $2,445
    Hours/week
    1

  • RON SUMMERALL

    PRESIDENT/CEO

    Total calculated
    $1,239,144
    From this org
    $1,200,153
    From related orgs
    $0
    Other
    $38,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,961
    Bonus
    $916,192
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $8,491
    Filer's total
    $1,239,144

  • JEFF NAPPER

    VICE-PRESIDENT/CFO

    Total calculated
    $226,429
    From this org
    $183,595
    From related orgs
    $0
    Other
    $42,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,547
    Bonus
    $11,048
    Other
    $0
    Deferred
    $18,695
    Nontaxable benefits
    $24,139
    Filer's total
    $226,429

  • GINA CHAMBERS

    VICE PRESIDENT

    Total calculated
    $154,697
    From this org
    $124,731
    From related orgs
    $0
    Other
    $29,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,152
    Bonus
    $5,579
    Other
    $0
    Deferred
    $12,723
    Nontaxable benefits
    $17,243
    Filer's total
    $154,697

  • JD HOLT

    FINANCIAL ADVISOR

    Total calculated
    $455,933
    From this org
    $400,452
    From related orgs
    $0
    Other
    $55,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,452
    Bonus
    $0
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $24,981
    Filer's total
    $455,933

  • JOEY CLARK

    VICE PRESIDENT

    Total calculated
    $140,438
    From this org
    $106,032
    From related orgs
    $0
    Other
    $34,406
    Hours/week
    40

  • MIKE SELF

    VICE PRESIDENT

    Total calculated
    $184,318
    From this org
    $153,109
    From related orgs
    $0
    Other
    $31,209
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,109
    Bonus
    $30,000
    Other
    $0
    Deferred
    $7,832
    Nontaxable benefits
    $23,377
    Filer's total
    $184,318

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 — 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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
SPOUSES ARE ALLOWED TO ACCOMPANY ALL OF THE CREDIT UNION'S EMPLOYEES AND DIRECTORS WHEN SUCH PERSONS TRAVEL TO CONFERENCES OR TRAINING. THE SPOUSES' ATTENDANCE WAS NOT FOR A BONA FIDE BUSINESS PURPOSE. THIS BENEFIT IS TREATED AS TAXABLE COMPENSATION TO THE SPOUSE, AND THE CREDIT UNION ISSUES A 1099-MISC TO THE SPOUSE IF THE BENEFIT EXCEEDS APPLICABLE IRS REPORTING THRESHOLDS.
PART I, LINE 3
COMPENSATION FOR THE CREDIT UNION'S CEO IS REVIEWED BY THE BOARD OF DIRECTORS. TO DETERMINE THE CEO'S SALARY, THE BOARD CONSIDERS, AMONG OTHER THINGS, PUBLISHED PEER SALARY GUIDE/DATA AND THE CREDIT UNION'S FINANCIAL CONDITION AND RESULTS OF OPERATIONS. THE CEO SETS ALL OTHER MANAGEMENT AND EMPLOYEE SALARIES BASED ON SIMILAR GUIDELINES.
PART I, LINE 4B
THE CREDIT UNION HAS ESTABLISHED ALABAMA TEACHERS CREDIT UNION 457(F)/(B) PLANS. THE PLANS ARE INTENDED TO BE INELIGIBLE DEFERRED COMPENSATION PLANS UNDER SECTIONS 457(F)/(B) OF THE INTERNAL REVENUE CODE. THESE PLANS ARE AGREEMENTS BETWEEN THE CREDIT UNION AND THE CREDIT UNION'S PRESIDENT/CEO ("PLAN PARTICIPANT"). SUBJECT TO THE PROVISIONS OF THE PLANS, THE CREDIT UNION HAS SET ASIDE FUNDS ("EMPLOYER FUND") TO BE INVESTED AT THE DIRECTION OF THE PLAN PARTICIPANT. ON SPECIFIED MEASUREMENT DATES OF THE EMPLOYER FUND, TO THE EXTENT THE EMPLOYER FUND HAD EARNINGS, AN AMOUNT EQUAL TO THE MAXIMUM PERMISSIBLE CONTRIBUTION FOR THE PLAN PARTICIPANT IS TRANSFERRED TO THE ALABAMA TEACHERS CREDIT UNION 457(F)/(B) PLANS. THE INCREASE IN VALUE FROM EARNINGS AND CONTRIBUTIONS, IN THE AGGREGATE, TOTALED $0 FOR 2022.

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

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303199349306910

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