SOUTHEAST FINANCIAL CREDIT UNION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHEAST FINANCIAL CREDIT UNION (EIN 62-0382058)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-16
- IRS object ID
- 202013219349302731
- Schema version
- 2019v5.1
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-16T08:54:39-06:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 721396621 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CARR RIGGS & INGRAM LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3011 ARMORY DRIVE SUITE 190 | AddressLine1Txt |
| City | NASHVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37204 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 620382058 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHEAST FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Business Name Line2 | C/O ADAM TOUNGETTE | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 6157433700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 SOUTH ROYAL OAKS BLVD | AddressLine1Txt |
| City | FRANKLIN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37064 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ADAM TOUNGETTE | PersonNm |
| Person Title | CONTROLLER | PersonTitleTxt |
| Phone | 6157433700 | PhoneNum |
| Signature | 2020-11-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN V RAYBURN | PreparerPersonNm |
| PTIN | P00429464 | PTIN |
| Phone | 6156651811 | PhoneNum |
| Preparation | 2020-11-04 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 159.100.161.121 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-11-04 | IPDt |
| IP Tm | 11:12:23 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | E960A5292D9063ACE72CA9B544B331AE0FCAE0A3 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | E960A5292D9063ACE72CA9B544B331AE0FCAE0A3 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ADAM TOUNGETTE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 SOUTH ROYAL OAKS BLVD | AddressLine1Txt |
| City | FRANKLIN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37064 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $25,035,582 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1182 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUTHEASTFINANCIAL.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1936 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,286 MEMBERS IN THE FORM OF LOANS, SAVINGS ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 135 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $16,289,395 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $17,510,942 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,413,129 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,271,054 | CYInvestmentIncomeAmt |
| PY Other Revenue | $6,302,709 | PYOtherRevenueAmt |
| CY Other Revenue | $6,214,974 | CYOtherRevenueAmt |
| PY Total Revenue | $24,005,233 | PYTotalRevenueAmt |
| CY Total Revenue | $24,996,970 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,949,297 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,103,217 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,990,072 | PYOtherExpensesAmt |
| CY Other Expenses | $12,930,290 | CYOtherExpensesAmt |
| PY Total Expenses | $22,939,369 | PYTotalExpensesAmt |
| CY Total Expenses | $23,033,507 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,065,864 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,963,463 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $368,449,082 | TotalAssetsBOYAmt |
| Total Assets EOY | $382,302,574 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $340,753,156 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $353,271,638 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $27,695,926 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $29,030,936 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,286 MEMBERS IN THE FORM OF LOANS, SAVINGS ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,286 MEMBERS IN THE FORM OF LOANS, SHARE ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES.SERVICES INCLUDE ATM/DEBIT CARD PROGRAM, INTERNATIONAL REM;ITTANCES, NO SURCHARGE ATM'S, BUSINESS SHARE ACCOUNTS, HEALTH SAVINGS ACCOUNTS, NO COST SHARE DRAFTS, SHARE CERTIFICATES WITH LOW MINIMUM BALANCE REQUIREMENTS, INSURANCE/INVESTMENT SALES, STUDENT SCHOLARSHIPS, BUSINESS LOANS, CREDIT BUILDER, INDIRECT CONSUMER LENDING, INTEREST ONLY OR PAYMENT OPTION 1ST MORTGAGE LOANS, OVERDRAFT LINES OF CREDIT, OVERDRAFT/PROTECTION/COURTESY PAY, PARTICIPATION LOANS, REAL ESTATE LOANS, RISK BASED LOANS, SHARE SECURED CREDIT CARDS, FINANCIAL EDUCATION, FINANCIAL COUNSELING, FIRST TIME HOMEBUYER PROGRAM. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 56 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 135 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ADAM TOUNGETTE | PersonNm |
| Phone | 6157433700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 220 SOUTH ROYAL OAKS BLVD | AddressLine1Txt |
| City | FRANKLIN | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37064 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| CLEO DUCKWORTH | |||||||
| CHAIR, BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BEVERLY A HICKS | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KELSIE JONES | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PAT LEBLANC | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SCARLET SNEED | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| BILLY HATMAKER | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| WALTER COSTNER | |||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT HALE | |||||||
| AUDIT COMMITTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JILL ARNOLD | |||||||
| CREDIT APPEALS COMMITTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TROY CRAWFORD | |||||||
| CREDIT APPEALS COMMITTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JERRY LILLARD | |||||||
| AUDIT COMMITTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN JACOWAY | |||||||
| CEO | 40.00 | $733,151 | $0 | $27,813 | Yes (X) | ||
| KELLY KEENAN | |||||||
| COO | 40.00 | $156,694 | $0 | $19,859 | Yes (X) | ||
| SUSAN HAMILTON | |||||||
| VP, COMPLIANCE AND TRAINING | 40.00 | $118,400 | $0 | $16,310 | Yes (X) | ||
| KENDRICK COULTHARD | |||||||
| PRESIDENT OF MFS | 40.00 | $303,085 | $0 | $28,716 | Yes (X) | ||
| JEFF DAHLSTROM | |||||||
| PRESIDENT | 40.00 | $729,782 | $0 | $26,812 | Yes (X) | ||
| LEIGH GLOVER | |||||||
| MFS REP | 40.00 | $253,253 | $0 | $21,844 | Yes (X) | ||
| LELAH HILL | |||||||
| VP, HUMAN RESOURCES | 40.00 | $126,813 | $0 | $14,380 | Yes (X) | ||
| DAVID HARLAN | |||||||
| MFS REP | 40.00 | $116,398 | $0 | $14,248 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,537,576 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $169,982 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 8 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| DATA BLUE LLC | |||||
| PO BOX 281274 | NASHVILLE | TN | 37228 | IT CONSULTING | $376,030 |
| TRADER INTERACTIVE LLC | |||||
| 999 WATERSIDE DRIVE 1900 | NORFOLK | VA | 23510 | ADVERTISING | $325,330 |
| LENDERS PROTECTION LLC | |||||
| 901 S MOPAC EXPRESSWAY | AUSTIN | TX | 78746 | AUTOMATED LENDING | $120,559 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CONSUMER LOANS | 900099 | $10,578,504 | $10,578,504 |
| RESIDENTIAL RE LOANS | 900099 | $3,301,568 | $3,301,568 |
| COMM/AG RE LOANS | 900099 | $1,891,022 | $1,891,022 |
| OTHER LOANS | 900099 | $1,736,649 | $1,736,649 |
| CONSTRUCTION LOANS | 900099 | $3,199 | $3,199 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $17,510,942 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,309,666 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,309,666 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $6,826 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $6,826 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,826 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,826 | RelatedOrExemptFuncIncomeAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $38,612 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$38,612 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$38,612 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$38,612 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| OTHER INCOME | 522298 | $4,311,652 | $4,311,652 |
| FEE INCOME | 522298 | $1,896,496 | $1,896,496 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $6,208,148 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $24,996,970 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $24,996,970 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,619,625 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,756,283 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,034 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,136,427 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $550,848 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,797 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,667 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $292,962 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $872,975 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $112,989 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,459,981 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $87,616 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,470,981 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $563,871 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ALL OTHER EXPENSE | $1,502,809 |
| PROVISION FOR LOAN LOSS | $1,182,393 |
| CREDIT CARD EXPENSE | $975,685 |
| LOAN SERVICING EXPENSE | $887,934 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,334,630 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,033,507 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,407,445 | BOYAmt |
| EOY | $2,385,770 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,833,186 | BOYAmt |
| EOY | $39,017,001 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $545,251 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $288,679,108 | BOYAmt |
| EOY | $295,500,668 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $784,356 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $27,290,355 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $14,026,629 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,354,750 | BOYAmt |
| EOY | $13,263,726 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $332,561 | BOYAmt |
| EOY | $246,480 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,013,767 | BOYAmt |
| EOY | $18,579,433 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,828,265 | BOYAmt |
| EOY | $11,979,889 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $368,449,082 | BOYAmt |
| EOY | $382,302,574 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,352,450 | BOYAmt |
| EOY | $4,629,236 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $336,400,706 | BOYAmt |
| EOY | $348,642,402 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $340,753,156 | BOYAmt |
| EOY | $353,271,638 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,695,926 | BOYAmt |
| EOY | $29,030,936 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,695,926 | BOYAmt |
| EOY | $29,030,936 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $368,449,082 | BOYAmt |
| EOY | $382,302,574 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,963,463 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$628,453 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,888,077 | OtherCostOrOtherBasisAmt |
| Book Value | $3,888,077 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,812,863 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,248,815 | DepreciationAmt |
| Book Value | $8,564,048 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $641,188 | OtherCostOrOtherBasisAmt |
| Depreciation | $478,860 | DepreciationAmt |
| Book Value | $162,328 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,948,227 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,298,954 | DepreciationAmt |
| Book Value | $649,273 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,263,726 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| REGULAR SHARES | $141,893,164 |
| SHARE DRAFTS | $54,916,873 |
| NONMEMBER DEPOSITS | $2,136,000 |
| IRA ACCOUNTS | $21,545,356 |
| MONEY MARKET SHARES | $48,246,539 |
| SHARE CERTIFICATES | $79,904,470 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $348,642,402 | TotalLiabilityAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOHN JACOWAY | ||||||||||||||
| CEO | $644,019 | $0 | $66,000 | $0 | $23,132 | $0 | $13,950 | $0 | $13,863 | $0 | $760,964 | $0 | $0 | $0 |
| KELLY KEENAN | ||||||||||||||
| COO | $154,896 | $0 | $0 | $0 | $1,798 | $0 | $8,305 | $0 | $11,554 | $0 | $176,553 | $0 | $0 | $0 |
| KENDRICK COULTHARD | ||||||||||||||
| PRESIDENT OF MFS | $38,588 | $0 | $269,936 | $0 | -$5,439 | $0 | $13,950 | $0 | $14,766 | $0 | $331,801 | $0 | $0 | $0 |
| JEFF DAHLSTROM | ||||||||||||||
| PRESIDENT | $639,888 | $0 | $66,000 | $0 | $23,894 | $0 | $13,950 | $0 | $12,862 | $0 | $756,594 | $0 | $0 | $0 |
| LEIGH GLOVER | ||||||||||||||
| MFS REP | $43,500 | $0 | $208,955 | $0 | $798 | $0 | $12,933 | $0 | $8,911 | $0 | $275,097 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION IS OWNED BY ITS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE SECRETARY NOTIFIES IN WRITING ALL MEMBERS ELIGIBLE TO VOTE AT LEAST 75 DAYS PRIOR TO THE ANNUAL MEETING THAT NOMINATIONS FOR VACANCIES WILL BE CONDUCTED BY BALLOT. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION VOTE ON THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS REVIEWED IN DETAIL BY MANAGEMENT BEFORE IT WAS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED ANNUALLY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ANY CHANGES THAT OCCUR DURING THE YEAR ARE TO BE REPORTED IMMEDIATELY. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE CREDIT UNION'S PRESIDENT AND CEO HAVE THEIR COMPENSATOIN DETERMINED BY A COMPENSATION COMMITTEE MADE UP OF MEMBERS OF THE BOARD OF DIRECTORS. THEY REVIEW COMPENSATION STUDIES CONSISTING OF COMPARABILITY DATA FOR INSTITUTIONS OF THIS SIZE. THEY ALSO CONSULT INDEPENDENT COMPENSATION CONSULTANTS FROM TIME TO TIME AS PART OF THE PROCESS. ALL DELIBERATIONS AND DECISIONS ARE DOCUMENTED. |
| FORM 990, PART VI, SECTION C, LINE 19 | NO FORMS ARE MADE AVAILABLE TO THE PUBLIC |
| FORM 990, PART IX, LINE 24E | CORE PROCESSING EXPENSE 754,179. ONLINE BANKING EXPENSE 391,221. COMPUTER NETWORK EXPENSE 370,226. CLOUD SOFTWARE 182,820. STATEMENT PROCESSING FEES 181,241. BOND PREMIUM 165,137. MERIDIAN LINK 147,535. ARMORED CAR AND COURIER 142,271. |
| FORM 990, PART XI, LINE 9: | POST EMPLOYMENT BENEFIT ADJUSTMENT -628,453. |
| 990 PAGE 12 PART XII LINE 2 | SOUTHEAST FINANCIAL CREDIT UNION HAS AN ANNUAL AUDIT CONDUCTED ON A FISCAL YEAR BASIS AT JUNE 30. SINCE THE FORM 990 IS FILED ON A CALENDAR YEAR BASIS QUESTION 2B IS ANSWERED NO. A RECONCILATION BETWEEN THE TWO PERIODS WOULD NOT YIELD ANY USEFUL INFORMATION FOR FEDERAL PURPOSES. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SOUTHEAST RESOURCE GROUP INC | ||||||||||||
| 220 SOUTH ROYAL OAKS BLVD | FRANKLIN | TN | 37064 | 263286884 | CONSULTING & INVESTING | TN | SOUTHEAST FINANCIAL | C | $272,760 | $3,104,384 | 1.00000 | Yes (1) |
| MEMBERS FINANCIAL GROUP INC | ||||||||||||
| 220 SOUTH ROYAL OAKS BLVD | FRANKLIN | TN | 37064 | 621805495 | INSURANCE SALES & FINANCIAL PRODUCTS | TN | SOUTHEAST FINANCIAL | C | $266,637 | $1,600,736 | 1.00000 | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SOUTHEAST RESOURCE GROUP INC | ||
| P | $63,037 | CASH |
| MEMBERS FINANCIAL GROUP INC | ||
| P | $1,001,764 | CASH |
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