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Nonprofiteer
← HORIZON CREDIT UNION

Form 990 for tax year 2025

Filed by HORIZON CREDIT UNION.

Totals

Total revenue
$3,590,665
Total expenses
$3,224,663
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,069,163
Investment income
$461,670
Other revenue
$59,832
Total assets, end of year
$60,034,579
Total liabilities, end of year
$53,087,988
Net assets or fund balances, end of year
$6,946,591
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$3,224,663

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

    total $2,303,399 · related or exempt $2,303,399

  • 2b · Program service revenue: FEE INCOME

    total $765,764 · related or exempt $765,764

  • 3 · Investment income

    total $461,670 · excluded $461,670

  • 6a · Gross rents

    real property $8,890

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $8,890

  • 6d · Net rental income or loss

    total $8,890 · excluded $8,890

  • 11a · Other revenue: MISCELLEANOUS

    total $33,936 · related or exempt $33,936

  • 11b · Other revenue: INSURANCE COMMISSIONS

    total $17,006 · unrelated business $17,006

  • 11e · Other revenue, total

    $50,942

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $390,344

  • 5 · Compensation of officers, directors and key employees

    total $260,496

  • 7 · Other salaries and wages

    total $950,749

  • 8 · Pension plan contributions

    total $58,990

  • 9 · Other employee benefits

    total $163,335

  • 10 · Payroll taxes

    total $88,756

  • 11b · Fees: legal

    total $11,162

  • 11c · Fees: accounting

    total $42,000

  • 11f · Fees: investment management

    total $12,922

  • 11g · Fees: other

    total $590,447

  • 12 · Advertising and promotion

    total $97,987

  • 13 · Office expenses

    total $161,066

  • 14 · Information technology

    total $9,814

  • 16 · Occupancy

    total $102,756

  • 17 · Travel

    total $2,761

  • 22 · Depreciation, depletion and amortization

    total $70,289

  • 23 · Insurance

    total $37,161

  • 24a · Other expenses: LOAN SERVICING

    total $104,743

  • 24b · Other expenses: EDUCATION

    total $22,200

  • 24c · Other expenses: DUES

    total $19,837

  • 24e · All other expenses

    total $26,848

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $961,200 · end of year $939,147

  • 2 · Savings and temporary cash investments

    beginning of year $5,895,005 · end of year $4,248,214

  • 7 · Other notes and loans receivable

    beginning of year $40,937,379 · end of year $41,993,093

  • 9 · Prepaid expenses and deferred charges

    beginning of year $188,775 · end of year $122,972

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

    $3,512,652

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

    $1,914,985

  • 10c · Land, buildings and equipment, net

    beginning of year $1,655,485 · end of year $1,597,667

  • 13 · Investments: program-related

    beginning of year $9,734,570 · end of year $10,833,791

  • 14 · Intangible assets

    beginning of year $151,915 · end of year $151,915

  • 15 · Other assets

    beginning of year $135,262 · end of year $147,780

  • 17 · Accounts payable and accrued expenses

    beginning of year $217,306 · end of year $205,921

  • 25 · Other liabilities

    beginning of year $52,861,696 · end of year $52,882,067

  • 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 $6,580,589 · end of year $6,946,591

Mission and programs · 2025

Mission

TO PROMOTE THRIFT, ISSUE SHARES THAT MAINTAIN ACCOUNTS, AND TO MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED CURRENTLY FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.

Activities or mission (Part I)

STATE CHARTERED CREDIT UNION MUTUALLY OWNED BY OUR MEMBERS TO PROMOTE THRIFT, ISSUE SHARES THAT MAINTAIN ACCOUNTS, AND TO MAKE LOANS TO OUR MEMBERS. FUNDS NOT NEEDED CURRENTLY FOR LIQUIDITY OR FOR LOANS ARE TEMPORARILY INVESTED.

  • HORIZON CREDIT UNION IS A STATE-CHARTER CREDIT UNION IN WHICH ITS MEMBERS CAN DEPOSIT AND BORROW MONEY. THE ORGANIZATION PROMOTES THRIFT, MAINTAINS ACCOUNTS, AND PROVIDES FUNDING FOR MEMBERS OF THE COMMUNITY. HORIZON CREDIT UNION SERVES TO SUPPORT INDIVIDUALS IN THEIR EFFORTS TO RAISE THEIR FAMILIES, BUY HOMES AND VEHICLES, BUILD RETIREMENT PLANS, AND ACHIEVE OTHER FINANCIAL GOALS.HORIZON CREDIT UNION IS THE PRODUCT OF MERGERS BETWEEN THREE LONG STANDING CREDIT UNIONS IN KINGSPORT, TENNESSEE. MUNICIPAL EMPLOYEES CREDIT UNION BEGAN IN 1932 AND MERGED WITH KINGSPORT POST AND FEDERAL CREDIT UNION IN APRIL OF 1999. A MERGER TOOK PLACE AGAIN IN NOVEMBER 2014 WITH AGC CREDIT UNION. THE NEW NAME CHANGE OF HORIZON CREDIT UNION BECAME EFFECTIVE APRIL 1, 2016 IN ORDER TO REFLECT THE ORGANIZATION'S INCREASED FIELD OF MEMBERSHIP AND DIRECTION OF THE CREDIT UNION.

    Expenses $3,224,663 · Revenue $3,103,099

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cynthia Humphrey

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Mark Snodgrass

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Rodney Deel

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Doris Ladd

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lisa Beilharz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joseph Miller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tyler Nunley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Drinnon

    COO

    Total calculated
    $144,019
    From this org
    $128,972
    From related orgs
    $0
    Other
    $15,047
    Hours/week
    40

  • Diana Baker

    CFO

    Total calculated
    $116,477
    From this org
    $96,854
    From related orgs
    $0
    Other
    $19,623
    Hours/week
    40

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
2025
Filed
11 June 2026
IRS schema version
2025v4.1
Source object
202601679349300900

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