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INNOVATIONS FINANCIAL CREDIT UNION: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
INNOVATIONS FINANCIAL CREDIT UNION (EIN 59-0706843)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-10-27
IRS object ID
202313009349301231
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-10-27T12:13:46-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN592164330PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Gerald E Creasman CPA PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line19200 S Dadeland Blvd Suite 504AddressLine1Txt
CityMiamiCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33156ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN590706843EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1INNOVATIONS FINANCIAL CREDIT UNIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlINNOBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1910 THOMAS DRIVEAddressLine1Txt
CityPANAMA CITYCityNm
State AbbreviationFLStateAbbreviationCd
ZIP32408ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJEREMY HINTONPersonNm
Person TitleCFOPersonTitleTxt
Phone8502490620PhoneNum
Signature2023-05-08SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJEREMYPersonFirstNm
Person LastHINTONPersonLastNm

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonGerald E Creasman CPAPreparerPersonNm
PTINP00428587PTIN
Phone3055960903PhoneNum
Preparation2023-10-27PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
OOB Security Verification00OOBSecurityVerificationCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Initial ReturnYes (X)InitialReturnInd
Gross Receipts$22,495,868GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1952FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionTO PROVIDE FINANCIAL AND LENDING SERVICES TO INDIVIDUALS AND BUSINESSES LOCATED WITHIN THE COUNTIES OF BAY, HOLMES, WASHINGTON, JACKSON, CALHOUN, GULF OF WALTON LOCATED IN THE STATE OF FLORIDA.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee86TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$490,458TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$0CYContributionsGrantsAmt
CY Program Service Revenue$14,150,468CYProgramServiceRevenueAmt
CY Investment Income$455,919CYInvestmentIncomeAmt
CY Other Revenue$7,889,481CYOtherRevenueAmt
CY Total Revenue$22,495,868CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$7,803,454CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$8,143,759CYOtherExpensesAmt
CY Total Expenses$15,947,213CYTotalExpensesAmt
CY Revenues Less Expenses$6,548,655CYRevenuesLessExpensesAmt
Total Assets EOY$367,562,433TotalAssetsEOYAmt
Total Liabilities EOY$332,156,640TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances EOY$35,405,793NetAssetsOrFundBalancesEOYAmt
MissionTO PROVIDE FINANCIAL AND LENDING SERVICES TO INDIVIDUALS AND BUSINESSES LOCATED WITHIN THE COUNTIES OF BAY, HOLMES, WASHINGTON, JACKSON, CALHOUN, GULF OF WALTON LOCATED IN THE STATE OF FLORIDA.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$15,947,213ExpenseAmt
DescSINCE 1952 THE CREDIT UNION HAS ACHIEVED ITS GOAL OF PEOPLE HELPING PEOPLE BY ALWAYS PROVIDING SERVICE THAT EXCEEDS OUR MEMBERS EXPECTATIONS THROUGH EACH STAGE OF THEIR LIVESDesc
Total Program Service Expenses$15,947,213TotalProgramServiceExpensesAmt
Described In Section501c3falseDescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesYes (true)ReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredYes (true)ScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Transaction With Control EntfalseTransactionWithControlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee86EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledfalseForm1098CFiledInd
DAF Excess Business HoldingsfalseDAFExcessBusinessHoldingsInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Members And Shr Gross Income$0MembersAndShrGrossIncomeAmt
Other Sources Gross Income$0OtherSourcesGrossIncomeAmt
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsYes (true)ChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersYes (true)MembersOrStockholdersInd
Election Of Board MembersYes (true)ElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersYes (true)LocalChaptersInd
Policies Reference ChaptersYes (true)PoliciesReferenceChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Written Policy Or ProcedurefalseWrittenPolicyOrProcedureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonJEREMY HINTONPersonNm
Phone8502490620PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1910 THOMAS DRIVEAddressLine1Txt
CityPANAMA CITYCityNm
State AbbreviationFLStateAbbreviationCd
ZIP32408ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeIndIndividual Trustee Or DirectorIndividualTrusteeOrDirectorInd
DAVID SOUTHALL
CEO40.000.00Yes (X)$412,846$0$5,150
SCOTT GLADDEN
EVPCOO40.000.00Yes (X)$335,512$0$7,302
JEREMY HINTON
SVPCFO40.000.00Yes (X)$289,377$0$0
DAVID POWELL
DIR OF BUS & MTG LENDING40.000.00$197,892$0$0Yes (X)
DAN CHAPLIK
DIR OF BRANCH OPERATION40.000.00$192,331$0$0Yes (X)
KENNY RAY MITCHELL
MARKET LEADER40.000.00$170,000$0$0Yes (X)
ANGIE BURNETT
DIRECTOR OF PROJECTS40.000.00$162,573$0$7,110Yes (X)
RUTHIE PARKER
MARKETING DIRECTOR40.000.00$129,224$0$0Yes (X)
KRISTOPHER MCLANE
TREASURER5.000.00$0$0$0Yes (X)
NANCY LUTHER
VICE CHAIR5.000.00$0$0$0Yes (X)
CRAIG ELLIS
CHAIRMAN5.000.00$0$0$0Yes (X)
JOSH SCRIBNER
SECRETARY5.000.00$0$0$0Yes (X)
KENNETH WHITE
DIRECTOR5.000.00$0$0$0Yes (X)
ROB FERNANDEZ
DIRECTOR5.000.00$0$0$0Yes (X)
ANITA BROUGHTON
DIRECTOR5.000.00$0$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,889,755TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$19,562TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K8IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (true)TotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
JACK HENRY AND ASSOCIATES INC
PO BOX 609MONETTMO65708CORE & CARD PROCES$792,005
ACCESS SOFTEK INC
727 ALLSTON WAY STE CBERKELEYCA94710ONLINE BANKING$244,491
DOXIM INC
PO BOX 933472CLEVELANDOH44193STATEMENTS$168,600
MAINSTREET PROPERTY SERVICES
777 HUTCHISON ROADCHIPLEYFL32428PROPERTY MANGMNT$167,203
NOLES SCAPES
1520 MICHIGAN AVENUELYNN HAVENFL32444GROUND MAINT$154,682
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K5CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescINTEREST ON LOANSDesc
Business900099BusinessCd
Total Revenue Column$14,150,468TotalRevenueColumnAmt
Related Or Exempt Func Income$13,660,010RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$490,458UnrelatedBusinessRevenueAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$14,150,468TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$455,919TotalRevenueColumnAmt
Related Or Exempt Func Income$455,919RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
FEE INCOME900099$7,934,730$7,934,730
OTHER INCOME LOSS900099-$45,249-$45,249
FieldValueIRS element (for citing)
Other Revenue Total$7,889,481OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$22,495,868TotalRevenueColumnAmt
Related Or Exempt Func Income$22,005,410RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$490,458UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$6,038,794TotalAmt
Program Services$6,038,794ProgramServicesAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$844,436TotalAmt
Program Services$844,436ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$518,367TotalAmt
Program Services$518,367ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$401,857TotalAmt
Program Services$401,857ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$66,725TotalAmt
Program Services$66,725ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$77,814TotalAmt
Program Services$77,814ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$413,044TotalAmt
Program Services$413,044ProgramServicesAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$186,514TotalAmt
Program Services$186,514ProgramServicesAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$40,549TotalAmt
Program Services$40,549ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$857,943TotalAmt
Program Services$857,943ProgramServicesAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescSEE ATTACHED SCHEDULEDesc
Total$6,501,170TotalAmt
Program Services$6,501,170ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$15,947,213TotalAmt
Program Services$15,947,213ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$3,317,656EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
EOY$21,886,834EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
EOY$1,126,805EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
EOY$315,326,388EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$718,453EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$16,918,809LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$4,371,949LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$12,546,860EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
EOY$12,639,437EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$367,562,433EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
EOY$6,778,812EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
EOY$5,006,038EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
EOY$320,371,790EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$332,156,640EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
EOY$35,405,793EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$35,405,793EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$367,562,433EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$6,548,655ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$28,857,138OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$5,539,211OtherCostOrOtherBasisAmt
Book Value$5,539,211BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$7,901,209OtherCostOrOtherBasisAmt
Depreciation$2,189,760DepreciationAmt
Book Value$5,711,449BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$3,478,389OtherCostOrOtherBasisAmt
Depreciation$2,182,189DepreciationAmt
Book Value$1,296,200BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$12,546,860TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
NCUASIF$3,061,985
AUTOS OWNED$212,814
OTHER ASSETS$9,364,638
FieldValueIRS element (for citing)
Total Book Value Other Assets$12,639,437TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescMEMBER DEPOSITSDesc
Amt$320,371,790Amt
FieldValueIRS element (for citing)
Total Liability$320,371,790TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt$22,495,868TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal$22,495,868RevenueSubtotalAmt
Total Revenue Per Form990$22,495,868TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$15,947,213TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$15,947,213ExpensesSubtotalAmt
Total Expenses Per Form990$15,947,213TotalExpensesPerForm990Amt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Travel For CompanionsYes (X)TravelForCompanionsInd
Idemnification Gross Up PmtsYes (X)IdemnificationGrossUpPmtsInd
Written Policy Ref T And E ExpnssYes (true)WrittenPolicyRefTAndEExpnssInd
Substantiation RequiredYes (true)SubstantiationRequiredInd
Compensation CommitteeYes (X)CompensationCommitteeInd
Independent ConsultantYes (X)IndependentConsultantInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Compensation SurveyYes (X)CompensationSurveyInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance PaymentfalseSeverancePaymentInd
Supplemental Nonqual Rtr PlanYes (true)SupplementalNonqualRtrPlanInd
Equity Based Comp ArrngmfalseEquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtBonus Filing OrganizationBonusFilingOrganizationAmountTotal Compensation Filing OrgTotalCompensationFilingOrgAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt
JEREMY HINTON
SVPCFO$235,913$53,464$289,377
DAVID SOUTHALL
CEO$317,034$89,812$417,996$6,000$1,854$3,296
SCOTT GLADDEN
EVPCOO$282,048$53,464$342,814$5,794$1,508
DAN CHAPLIK
DIR OF BRANCH OPERATION$176,072$16,259$192,331
DAVID POWELL
DIR OF BUS & MTG LENDING$176,072$21,820$197,892
KENNY RAY MITCHELL
MARKET LEADER$170,000$170,000
ANGIE BURNETT
DIRECTOR OF PROJECTS$148,720$13,853$169,683$7,110

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (9 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Organizational document changes Part VI line 4CREDIT UNION APPLIED FOR AND WAS GRANTED CHANGE OF STATUS FROM A FEDERAL CREDIT UNION TO A STATE CHARTERED CREDIT UNION ON SEPTEMBER 1ST, 2022
Members or stockholder classes and rights Part VI line 6THE CREDIT UNION HAS MEMBERS AND EACH MEMBER IS GRANTED A RIGHT TO VOTE
Member election for additional members Part VI line 7aANNUAL ELECTIONS ARE HELD AND ALL MEMBERS IN GOOD STANDING ARE ENTITLED TO VOTE FOR THE SLATE OF VOLUNTEERS THAT HAVE BEEN PLACED ON BALLOTS
Form 990 governing body review Part VI line 11ANNUAL TAX RETURNS ARE REVIEWED BY OFFICERS AND BOARD OF DIRECTORS
Conflict of interest policy compliance Part VI line 12cTHE ENFORCEMENT OF CONFLICTS OF INTEREST ARE CARRIED OUT BY THE ORGANIZATION. ANY CONFLICTS OF INTEREST RELATED TO OFFICERS AND DIRECTORS ARE REPORTED TO THE STATE AS PART OF ANNUAL REGULATORY AUDIT
CEO executive director top management comp Part VI line 15aCOMPENSATION FOR TOP OFFICIAL (CEO) IS COMPRISED OF BOTH A CREDIT UNION AND BANK PEER COMPARISON SURVEY. THE SURVEY IS PRESENTED TO THE BOARD OF DIRECTORS AND THE BOARD APPROVES THE SALARY OF THE CEO. THE CEO CONTRACT IS WRITTEN AND APPROVED BY THE BOARD OF DIRECTORS.
Other officer or key employee compensation Part VI line 15bCOMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED USING CREDIT UNION AND BANK PEER COMPARISON SURVEY. THE INFORMATION IS PRESENTED TO THE BOARD OF DIRECTORS AND A SALARY RANGE OR INCREASES ARE APPROVED BY BOARD OF DIRECTORS. THE CEO THEN APPROVES ALL SALARY INCREASES BASED ON BOARD GUIDELINES
Governing documents etc available to public Part VI line 19GOVERNING DOCUMENTS, BYLAWS AND COPIES OF TAX RETURNS ARE MADE AVAILABLE BY REQUEST ONLY. THESE DOCUMENTS ARE PROVIDED IN COPY FORMAT WITHIN REASONABLE TIME FRAMES
Explanation of other changes in net assets or fund balances Part XI line 9THE CREDIT UNION HAS BEEN IN EXISTENCE SINCE 1952 UNDER THE NUCA AS A FEDERAL CREDIT UNION. IN SEPTEMBER 2022 THE CREDIT UNION APPLIED AND WAS ACCEPTD AS A STATE CHARTERED CREDIT UNION. THIS CHANGE REQUIRES THE CREDIT UNION TO FILE ITS OWN FORM 990 INDEPENDENT OF THE NCUA AND THUS THE NEED TO REPORT A BEGINNING BALANCE FOR UNDIVIDED EARNINGS

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