NEW HORIZONS CREDIT UNION: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- NEW HORIZONS CREDIT UNION (EIN 63-0767402)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-13
- IRS object ID
- 201923179349303147
- Schema version
- 2018v3.1
- 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 | 2019-11-13T10:48:26-06:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 454084437 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WARREN AVERETT LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 316 SOUTH BAYLEN ST SUITE 300 | AddressLine1Txt |
| City | PENSACOLA | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32502 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 630767402 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW HORIZONS CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | NEWH | BusinessNameControlTxt |
| Phone | 2513163240 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 622 AZALEA ROAD | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 36609 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | EDITH G FRANKLIN | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 2513163240 | PhoneNum |
| Signature | 2019-11-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CLAIRE C DUREN CPA | PreparerPersonNm |
| PTIN | P01577924 | PTIN |
| Phone | 8504357400 | PhoneNum |
| Preparation | 2019-11-08 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 209.136.244.2 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-11-08 | IPDt |
| IP Tm | 09:38:47 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 4E6DC21914383819C2908E49415BCAC36877079F | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-04-17 16:48:07Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | EDITH G FRANKLIN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 622 AZALEA ROAD | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 36609 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $17,548,045 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.NEWHCU.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | STATE-CHARTERED CREDIT UNION | OtherOrganizationDsc |
| Formation | 1950 | FormationYr |
| Legal Domicile State | AL | LegalDomicileStateCd |
| Activity Or Mission | THE CREDIT UNION PROVIDES FINANCIAL SERVICES TO ITS MEMBERS IN THE FORM OF SAVINGS AND CHECKING ACCOUNTS AND ALL TYPES OF CONSUMER LOANS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 135 | TotalEmployeeCnt |
| Total Volunteers | 10 | 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 | $7,377,911 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $11,874,473 | CYProgramServiceRevenueAmt |
| PY Investment Income | $990,888 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,044,400 | CYInvestmentIncomeAmt |
| PY Other Revenue | $5,779,731 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $14,148,530 | PYTotalRevenueAmt |
| CY Total Revenue | $12,918,873 | 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 | $4,638,490 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,849,215 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $11,188,524 | PYOtherExpensesAmt |
| CY Other Expenses | $6,266,267 | CYOtherExpensesAmt |
| PY Total Expenses | $15,827,014 | PYTotalExpensesAmt |
| CY Total Expenses | $10,115,482 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$1,678,484 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,803,391 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $214,292,512 | TotalAssetsBOYAmt |
| Total Assets EOY | $199,173,777 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $204,649,758 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $187,529,465 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $9,642,754 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $11,644,312 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN MOBILE, BALDWIN, AND CLARK COUNTIES IN ALABAMA. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 30,000. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, THE CREDIT UNION PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| 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 | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | 0 | 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 5427 | 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 | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| 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 | Yes (1) | 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 | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDITH G FRANKLIN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2513163240 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 622 AZALEA ROAD | AddressLine1Txt |
| City | MOBILE | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 36609 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| LINDA BROWN | ||||||
| CHAIRPERSON | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DELORIS BAGSBY | ||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| WILLIAM W LEWIS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CRAIG JONES | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JOE MILLS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RALPH ALTICE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| LARRY LANDRUM | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| EDITH FRANKLIN | ||||||
| PRESIDENT/ CEO | 40.00 | Yes (X) | $116,416 | $0 | $24,449 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $116,416 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $24,449 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | 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 |
|---|---|---|---|---|---|
| JACK HENRY & ASSOCIATES | |||||
| 663 W HWY 60 | MONETT | MO | 65708 | CORE PROCESSOR | $277,555 |
| IDSCOM | |||||
| 11629 SOUTH 700 EAST SUITE 200 | DRAPER | UT | 840204607 | STATEMENT PROCESSOR | $219,935 |
| TEKLINKS | |||||
| 1018 HIGHLAND COLONY PARKWAY SUITE | RIDGELAND | MS | 39157 | NETWORK SERVICES | $137,190 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST ON LOANS | 522100 | $6,069,998 | $6,069,998 |
| FEES AND OTHER OPERATING INCOME | 522100 | $5,804,475 | $5,804,475 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $11,874,473 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,095,287 | TotalRevenueColumnAmt |
| Exclusion | $1,095,287 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,696,053 | SecuritiesAmt |
| Other | $882,232 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,734,510 | SecuritiesAmt |
| Other | $894,662 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$38,457 | SecuritiesAmt |
| Other | -$12,430 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$50,887 | TotalRevenueColumnAmt |
| Exclusion | -$50,887 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,918,873 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,874,473 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,044,400 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,416 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,715,508 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $321,035 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $467,270 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $228,986 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $267,536 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,500 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $291,312 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $762,434 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $455,568 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $402,547 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,359 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,032 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,433 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $509,521 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $122,565 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DEBIT AND CREDIT CARD E | $1,181,159 |
| PROVISION FOR LOAN LOSS | $387,337 |
| COLLECTIONS | $340,571 |
| MEMBER ACCOUNT EXPENSE | $235,071 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $815,322 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,115,482 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,350,803 | BOYAmt |
| EOY | $3,125,953 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,965,830 | BOYAmt |
| EOY | $7,674,126 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $862,346 | BOYAmt |
| EOY | $869,990 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $115,691,244 | BOYAmt |
| EOY | $118,071,149 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $607,184 | BOYAmt |
| EOY | $360,304 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $12,759,061 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,019,718 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,112,873 | BOYAmt |
| EOY | $5,739,343 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,512,339 | BOYAmt |
| EOY | $49,073,458 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,275,121 | BOYAmt |
| EOY | $4,337,466 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,914,772 | BOYAmt |
| EOY | $9,921,988 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $214,292,512 | BOYAmt |
| EOY | $199,173,777 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,383,970 | BOYAmt |
| EOY | $3,028,692 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $199,265,788 | BOYAmt |
| EOY | $184,500,773 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $204,649,758 | BOYAmt |
| EOY | $187,529,465 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $9,642,754 | BOYAmt |
| EOY | $11,644,312 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,642,754 | BOYAmt |
| EOY | $11,644,312 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $214,292,512 | BOYAmt |
| EOY | $199,173,777 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,803,391 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$752,915 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$48,918 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,131,543 | OtherCostOrOtherBasisAmt |
| Book Value | $2,131,543 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,328,002 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,576,448 | DepreciationAmt |
| Book Value | $2,751,554 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $594,156 | OtherCostOrOtherBasisAmt |
| Depreciation | $454,803 | DepreciationAmt |
| Book Value | $139,353 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,705,360 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,988,467 | DepreciationAmt |
| Book Value | $716,893 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,739,343 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSIT ACCOUNTS | Desc |
| Amt | $184,500,773 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $184,500,773 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $13,183,972 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $214,212 | OtherRevenueAmt |
| Revenue Not Reported | $214,212 | RevenueNotReportedAmt |
| Revenue Subtotal | $12,969,760 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$50,887 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$50,887 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $12,918,873 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $10,380,581 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $50,887 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $50,887 | ExpensesNotReportedAmt |
| Expenses Subtotal | $10,329,694 | ExpensesSubtotalAmt |
| Other Expenses Not Included | -$214,212 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | -$214,212 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $10,115,482 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | EFFECTIVE JANUARY 1, 2009, THE CREDIT UNION IMPLEMENTED THE NEW ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. THE GUIDANCE PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. AS OF DECEMBER 31, 2018, THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE CREDIT UNION IS NO LONGER SUBJECT TO US FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2015. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | GAIN ON REPOSSESSIONS 214,212. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON SALE OF FIXED ASSETS -12,430. LOSS ON SALE OF INVESTMENTS -38,457. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON SALE OF FIXED ASSETS 12,430. LOSS ON SALE OF INVESTMENTS 38,457. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | GAIN ON REPOSSESSIONS -214,212. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE GOVERNING BOARD OF NEW HORIZONS CREDIT UNION IS OWNED AND CONTROLLED BY ITS MEMBERS AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. NEW HORIZONS CREDIT UNION DOES NOT HAVE STOCKHOLDERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD OF DIRECTORS ARE ELECTED FOR THREE-YEAR TERMS BY THE CREDIT UNION'S MEMBERSHIP. THE CHAIRMAN OF THE BOARD APPOINTS A NOMINATING COMMITTEE WHO WILL NOMINATE AT LEAST ONE PERSON FROM THE MEMBERSHIP FOR EACH VACANCY FOR WHICH ELECTIONS ARE BEING HELD. MEMBERS MAY ALSO BE NOMINATED BY PETITION. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS WOULD HAVE TO VOTE ON ANY MERGER OR CHARTER CONVERSION TO EITHER A MUTUAL SAVINGS OR A BANK. |
| FORM 990, PART VI, SECTION B, LINE 11B | OUR CPA FIRM COMPLETES THE 990 IN CONJUNCTION WITH OUR ACCOUNTING DEPARTMENT. IT IS THEN SUBMITTED TO OUR PRESIDENT/CEO FOR HER REVIEW AND SIGNATURE. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL OFFICIALS, OFFICERS, MANAGEMENT, AND STAFF ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY. ALL INSIDERS RECEIVE SERVICES UNDER THE SAME TERMS AS ANY MEMBERS. MANAGEMENT PERFORMS A REVIEW OF POTENTIAL VENDORS PRIOR TO CONTRACTING FOR SERVICES. THIS REVIEW WOULD IDENTIFY POSSIBLE CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | ON AN ANNUAL BASIS, THE BOARD MEETS TO REVIEW THE PRESIDENT/CEO'S CONTRACT. AN ANALYSIS IS MADE OF THE PROGRESS OF THE CREDIT UNION AND WHETHER GOALS WERE MET. THE BOARD REVIEWS THE COST OF LIVING INDEX AND DETERMINES THE AMOUNT, IF ANY, OF THE INCREASE THAT WILL BE GIVEN TO THE PRESIDENT/CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | CREDIT UNION FINANCIAL STATEMENTS ARE PUBLISHED AND GIVEN TO MEMBERS DURING THE CREDIT UNION'S ANNUAL MEETING. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | FASB ASC 715 PENSION ADJUSTMENT -48,918. |
| FORM 990, PART XII, FINANCIAL STATEMENTS AND REPORTING, LINE 2(C) | THE CREDIT UNION HAS A SUPERVISORY COMMITTEE COMPRISED OF THREE VOLUNTEERS WHO ARE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT ACCOUNTANTS. |
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