2019-08-21T15:23:17-05:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 109 N MAIN STREET SUITE 200 AUSTIN MN 55912 990 2018-01-01 580147128 GEORGIA'S OWN CREDIT UNION GEOR 4048741166 PO BOX 105205 ATLANTA GA 30348 GREGORY L GIBSON CHIEF FINANCIAL OFFICER 4048741166 2019-08-07 1 TANYA MEDGAARDEN P01717240 5074347000 2019-08-07 67.137.57.251 2019-08-07 12:29:23 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 B5DFD66E018AA0B130BE3716589477F082371567 2018 2019-02-21 02:37:17Z DAVID A PRETER PO BOX 105205 ATLANTA GA 30348 130931518 0 X WWW.GEORGIASOWN.ORG X CU 1943 GA TO PROVIDE THRIFT SAVING/BORROWING TO MEMBER-OWNED COOPERATIVE. 10 8 514 0 1122364 0 0 0 106810219 122689664 8593853 8132165 0 0 115404072 130821829 244884 272754 4579050 5816417 37580453 41436965 0 0 0 56486679 63892233 98891066 111418369 16513006 19403460 2311604416 2406137741 2078268218 2157612255 233336198 248525486 TO PROVIDE THRIFT SAVING/BORROWING TO MEMBER-OWNED COOPERATIVE. 0 0 PROVIDED THRIFT SAVINGS/BORROWINGS TO 183,654 MEMBERS. 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 1 0 1 27968 0 1 514 1 1 1 0 0 0 0 0 0 0 X 10 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TERESA MARTIN 4045751817 PO BOX 105205 ATLANTA GA 30348 DAVID A PRETER PRESIDENT/CEO - DIRECTOR 40.00 X X 779256 0 434581 MICHAEL W BAUMGARTNER CHAIRMAN - DIRECTOR 1.00 X X 13094 0 0 RICHARD E BURNS DIRECTOR 1.00 X 16116 0 0 PATRICK H CASEY TREASURER - DIRECTOR 1.00 X X 13094 0 0 WILLIAM E CONINE DIRECTOR 1.00 X 13194 0 0 DAVID DICKEY VICE CHAIRMAN - DIRECTOR 1.00 X X 13094 0 0 JAMES L FOWLER DIRECTOR 1.00 X 13094 0 0 GARY M LUDGOOD DIRECTOR 1.00 X 13094 0 0 JOAN K SIMS SECRETARY - DIRECTOR 1.00 X X 13094 0 0 ERVIN M WALKER DIRECTOR 1.00 X 12958 0 0 MOLLIE BELL DIRECTOR 1.00 X 13135 0 0 JOHN J CAREW III CHIEF STRATEGY OFFICER 40.00 X 383758 0 202839 KELLY M GARMON CHIEF MEMBERSHIP OFFICER 40.00 X 399094 0 163641 CINDY R BOYLES CHIEF TALENT OFFICER 40.00 X 522024 0 195351 ERIC BROOME CHIEF OPERATING OFFICER 40.00 X 317073 0 218524 BONNIE J KIMMEY CHIEF OPERATING OFFICER 40.00 X 331995 0 415138 GREGORY L GIBSON CFO 40.00 X 342536 0 94520 DREW A PUTT CHIEF LENDING SALES OFFICER 40.00 X 228038 0 34175 TERESA L MARTIN VP - PRINCIPAL ACCOUNTING OFFICER 40.00 X 201803 0 45125 KENNETH D BREHM PRINCIPAL - OPERATIONS OFF 40.00 X 212053 0 44104 ANTHONY L STRIPLING VP - MORTGAGE SERVICES 40.00 X 184838 0 34554 DAVID A MARLOWE VP - PRINCIPAL EXPERIENCE OFFICER 40.00 X 213362 0 30021 LEE D NORRIS VP - REAL ESTATE & FACILITIES 40.00 X 196138 0 34186 MICHAEL STONE VP - COMMERCIAL LENDING GROUP 40.00 X 192026 0 35456 MATTHEW HAVICE VP - ASSISTANT GENERAL COUNSEL 40.00 X 219025 0 34377 LORENZO L BROWN VP-STRATEGIC TECHNICAL SOLUTIONS 40.00 X 228038 0 43755 KIMBERLY DUFFY VP - HR AND LEARNING 40.00 X 198042 0 42597 KEVAN WILLIAMSON VP - INFORMATION SYSTEMS 40.00 X 190537 0 34196 RODNEY D COWAN VP - INTERNAL AUDIT/DIVERSITY & INCLUSION 40.00 X 161562 0 32070 CHRISTIN K HEWITT VP - CREDIT & PORTFOLIO RISK 40.00 X 183596 0 30447 LAURA STERLING VP - MARKETING & PRODUCT 40.00 X 159197 0 31255 TODD A LAMBRIGHT SALES MANAGER - MORTGAGE SERVICES 40.00 X 203023 0 18690 JAMES V BRYSON VP - BUSINESS SERVICES 40.00 X 150094 0 26579 MICHAEL MASSEY VP - PRODUCT MANAGEMENT 40.00 X 146911 0 17254 RICHARD M ELLIS DIRECTOR, COMPLIANCE 40.00 X 140362 0 38873 JOSEPH BECKNER DATA SCIENTIST 40.00 X 133930 0 35193 6752278 0 2367501 50 0 1 0 CA SOUTH LLC 800 BATTERY AVE STE 420 ATLANTA GA 30339 GENERAL CONTRACTOR 5807535 CARITHERS WALLACE COURTENAY LLC DBA CWC PO BOX 744677 ATLANTA GA 303744677 FURNITURE PURCHASES & OFFICE MOVES 1397323 MICROSOFT LICENSING GP CO BANK OF AMERI 1950 N STEMMONS FWY STE 5010 DALLAS TX 75207 SOFTWARE LICENSES 375686 VAN WAGNER SPORTS & ENTERTAINMENT LLC 800 THIRD AVE - 28TH FLOOR NEW YORK NY 10022 ADVERTISING 318082 CU ENGAGE LLC 450 CARILLON PKWY SUITE 130 ST PETERSBURG FL 33716 CONSULTING 291935 23 INTEREST ON LOANS 900099 81670556 81670556 OTHER INCOME 524298 26043460 26043460 FEE INCOME 522100 14975648 13853284 1122364 122689664 8241854 8241854 14956 94733 -14956 -94733 -109689 -109689 130821829 121567300 1122364 8132165 257754 15000 5816417 8208870 23269485 3421294 4461426 2075890 341195 200461 4938458 14682238 5932535 583821 2495114 3166921 PROVISION FOR LOAN LOSS 12470162 LOAN SERVICING EXPENSE 7912500 MISCELLANEOUS OPERATING 6634129 PROFESSIONAL AND OUTSID 4346757 187942 111418369 42594558 34057728 110169884 95056159 20769347 15381658 11026072 13699718 1794971288 1881540285 3017180 20474911 45352571 14145056 26244680 31207515 228468434 222482181 14485931 13143481 5883778 59857042 73210327 2311604416 2406137741 35425144 29948880 131789000 107289000 1911054074 2020374375 2078268218 2157612255 X 0 0 0 0 233336198 248525486 233336198 248525486 2311604416 2406137741 X 19403460 -4685366 471194 X X 0 1 X 1 0 0 0 6941058 6941058 14644026 2886985 11757041 6706400 1550908 5155492 17061087 9707163 7353924 31207515 SHARE DRAFTS 410762951 REGULAR SHARES 790241271 MONEY MARKET SHARES 357983174 SHARE CERTIFICATES 202273462 IRA/KEOGH ACCOUNTS 145631041 OTHER SHARES 2022476 NONMEMBER DEPOSITS 111460000 2020374375 X 130821831 2 2 130821829 0 130821829 111418370 1 1 111418369 0 111418369 PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. THE CREDIT UNION HAS FILED TAX RETURNS IN THE PAST FOR ACTIVITIES IT HAS DEEMED TAXABLE AND HAS A NET OPERATING LOSS CARRYFORWARD AS OF THE 2017 CALENDAR YEAR. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2018 AND 2017. THE CREDIT UNION'S 2016 AND SUBSEQUENT TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 2. PART XII, LINE 2D - OTHER ADJUSTMENTS: ROUNDING 1. 1 CYSTIC FIBROSIS FOUNDATION 6931 ARLINGTON RD SUITE 200 BETHESDA MD 20814 131930701 501(C)(3) 10000 CHARITABLE DONATION GEORGIA CREDIT UNION FOUNDATION 6705 SUGARLOAF PKWY STE 200 DULUTH GA 30097 581799727 501(C)(3) 5270 CHARITABLE DONATION GEORGIA'S OWN FOUNDATION INC 100 PEACHTREE ST NW STE 2800 ATLANTA GA 30303 474818845 501(C)(3) 71400 9545 FMV AUCTION/RAFFLE ITEMS/DONATED SERVICES CHARITABLE DONATION KING'S RIDGE CHRISTIAN SCHOOL 2765 BETHANY BEND RD APLHARETTA GA 30004 582600863 501(C)(3) 8000 CHARITABLE DONATION GEORGIA STATE UNIVERSITY FOUNDATION INC 1 PARK PLACE SUITE 533 ATLANTA GA 30303 586033185 501(C)(3) 100000 CHARITABLE DONATION OURSONG INC PO BOX 53405 ATLANTA GA 30355 113656911 501(C)(3) 6000 CHARITABLE DONATION AURORA THEATRE INC PO BOX 2014 LAWRENCEVILLE GA 30046 582450282 501(C)(3) 12499 CHARITABLE DONATION THE COMMUNITY FOUNDATION FOR GREATER ATLANTA INC 191 PEACHTREE ST NE SUITE 1000 ATLANTA GA 30303 581344646 501(C)(3) 10000 CHARITABLE DONATION SYNCHRONICITY PERFORMANCE GROUP INC 1389 PEACHTREE ST SUITE 350 ATLANTA GA 30309 582352047 501(C)(3) 10000 CHARITABLE DONATION BOYS & GIRLS CLUBS OF AMERICA 1275 PEACHTREE ST NE ATLANTA GA 30309 135562976 501(C)(3) 8000 CHARITABLE DONATION NACD 1515 N COURTHOUSE RD STE 1200 ARLINGTON VA 22201 522314113 501(C)(3) 7040 CHARITABLE DONATION 11 SCHOLARSHIPS 3 15000 PART I, LINE 2: ALL ASSISTANCE IS CURRENTLY COMPRISED OF DONATIONS TO 501(C)(3) CHARITABLE ORGANIZATIONS. WE DO NOT MONITOR HOW THE DONATED FUNDS ARE SPENT BY THE CHARITY. X X X 0 1 X X X X X 0 1 0 DAVID A PRETER PRESIDENT/CEO - DIRECTOR 570385 0 204464 0 4407 0 24745 0 409836 0 1213837 0 0 0 JOHN J CAREW III CHIEF STRATEGY OFFICER 305077 0 76359 0 2322 0 35409 0 167430 0 586597 0 0 0 KELLY M GARMON CHIEF MEMBERSHIP OFFICER 316900 0 74884 0 7310 0 33545 0 130096 0 562735 0 0 0 CINDY R BOYLES CHIEF TALENT OFFICER 451591 0 69191 0 1242 0 37436 0 157915 0 717375 0 225000 0 ERIC BROOME CHIEF OPERATING OFFICER 253721 0 62812 0 540 0 25250 0 193274 0 535597 0 0 0 BONNIE J KIMMEY CHIEF OPERATING OFFICER 262677 0 65754 0 3564 0 37594 0 377544 0 747133 0 0 0 GREGORY L GIBSON CFO 259594 0 79378 0 3564 0 21916 0 72604 0 437056 0 0 0 DREW A PUTT CHIEF LENDING SALES OFFICER 202943 0 22773 0 2322 0 15003 0 19172 0 262213 0 0 0 TERESA L MARTIN VP - PRINCIPAL ACCOUNTING OFFICER 166816 0 34180 0 807 0 22437 0 22688 0 246928 0 0 0 KENNETH D BREHM PRINCIPAL - OPERATIONS OFF 175952 0 33786 0 2315 0 20775 0 23329 0 256157 0 0 0 ANTHONY L STRIPLING VP - MORTGAGE SERVICES 152219 0 31494 0 1125 0 20507 0 14047 0 219392 0 0 0 DAVID A MARLOWE VP - PRINCIPAL EXPERIENCE OFFICER 178129 0 30702 0 4531 0 12481 0 17540 0 243383 0 0 0 LEE D NORRIS VP - REAL ESTATE & FACILITIES 144645 0 48389 0 3104 0 15144 0 19042 0 230324 0 0 0 MICHAEL STONE VP - COMMERCIAL LENDING GROUP 157265 0 34176 0 585 0 14482 0 20974 0 227482 0 0 0 MATTHEW HAVICE VP - ASSISTANT GENERAL COUNSEL 178290 0 40132 0 603 0 11741 0 22636 0 253402 0 0 0 LORENZO L BROWN VP-STRATEGIC TECHNICAL SOLUTIONS 181729 0 39451 0 6858 0 20258 0 23497 0 271793 0 0 0 KIMBERLY DUFFY VP - HR AND LEARNING 160411 0 36854 0 777 0 20273 0 22324 0 240639 0 0 0 KEVAN WILLIAMSON VP - INFORMATION SYSTEMS 155835 0 34254 0 448 0 19385 0 14811 0 224733 0 0 0 RODNEY D COWAN VP - INTERNAL AUDIT/DIVERSITY & INCL 131900 0 28708 0 954 0 14222 0 17848 0 193632 0 0 0 CHRISTIN K HEWITT VP - CREDIT & PORTFOLIO RISK 170000 0 12786 0 810 0 14968 0 15479 0 214043 0 0 0 LAURA STERLING VP - MARKETING & PRODUCT 131668 0 26770 0 759 0 14731 0 16524 0 190452 0 0 0 TODD A LAMBRIGHT SALES MANAGER - MORTGAGE SERVICES 50000 0 150240 0 2783 0 691 0 17999 0 221713 0 0 0 JAMES V BRYSON VP - BUSINESS SERVICES 136480 0 12966 0 648 0 13709 0 12870 0 176673 0 0 0 MICHAEL MASSEY VP - PRODUCT MANAGEMENT 124647 0 18115 0 4149 0 1673 0 15581 0 164165 0 0 0 RICHARD M ELLIS DIRECTOR, COMPLIANCE 117493 0 22062 0 807 0 22645 0 16228 0 179235 0 0 0 JOSEPH BECKNER DATA SCIENTIST 114704 0 17552 0 1674 0 19992 0 15201 0 169123 0 0 0 PART I, LINE 1A RICHARD E BURNS (DIRECTOR) - TRAVEL FOR COMPANIONS DAVID A PRETER (CEO/PRESIDENT) - HEALTH/SOCIAL CLUB DUES PART I, LINE 1B THERE IS NO WRITTEN, BOARD APPROVED, POLICY COVERING THE PAYMENT OF DIRECTOR SPOUSE TRAVEL. WHEN SUCH PAYMENTS OCCUR THEY ARE INCLUDED IN TAXABLE COMPENSATION. THERE IS NO WRITTEN, BOARD APPROVED, POLICY COVERING HEALTH/SOCIAL CLUB DUES PAID FOR CEO/PRESIDENT. HOWEVER, IT IS ADDRESSED IN HIS EMPLOYMENT CONTRACT WHICH WAS SIGNED BY THE BOARD. PART I, LINE 4B DAVID A PRETER - PARTICIPATED IN 457F PLAN - 2018 ACCRUAL $219,636 KELLY GARMON - PARTICIPATED IN 457F PLAN - 2018 ACCRUAL $51,267 JOHN J CAREW III - PARTICIPATED IN 457F PLAN - 2018 ACCRUAL $84,275 ERIC BROOME - PARTICIPATED IN 457F PLAN - 2018 ACCRUAL $120,017 CINDY R BOYLES - PARTICIPATED IN 457F PLAN - 2018 ACCRUAL $95,116 - 2018 PAYOUT $225,000 PART I, LINE 5 THE SALES MANAGER - MORTGAGE SERVICES EARNED A PRODUCTION INCENTIVE BASED ON THE REVENUES OF THAT DEPARTMENT. PART I, LINE 6 ALL OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED INDIVIDUALS, OTHER THAN THE SALES MANAGER - MORTGAGE SERVICES, PARTICIPATED IN THE CREDIT UNION'S ANNUAL INCENTIVE (BONUS) PLAN WHICH INCLUDED A NET INCOME COMPONENT IN DETERMINING THE PAYOUT EARNED. DAVID PRETER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 7801230 6094132 0 1 1 KELLY GARMON CMO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2194815 2238345 0 1 1 GREG GIBSON CFO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 2900000 2912646 0 1 1 WILLIAM LUSK FORMER CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 1464154 1504595 0 1 1 TERESA MARTIN VP - PRINCIPAL ACCOUNTING OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG. 1.7872-15 X 950000 950000 0 1 1 13699718 DAVID DICKEY BOARD MEMBER 949944 CU BOARD MEMBER, DAVID DICKEY, IS RELATED TO DICKEY BROADCASTING (BOARD MEMBER). THE CU CONDUCTS MARKETING, ADVERSTISING AND BRANDING BUSINESS WITH THIS ENTITY. 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 183,654 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE AND VOTING RIGHTS AT THE ANNUAL MEETINGS. FORM 990, PART VI, SECTION A, LINE 7A CURRENT MEMBERS MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL OF MEMBERS. THESE DECISIONS MAY ALSO BE SUBJECT TO SCRUTINY BY VARIOUS GOVERNMENTAL AGENCIES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY BOTH THE CREDIT UNION'S CHIEF FINANCIAL OFFICER, CHIEF TALENT OFFICER, PRINCIPAL ACCOUNTING OFFICER, AND THE COMPENSATION COMMITTEE OF THE BOARD AFTER BEING PREPARED BY THE CPA FIRM. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED BY THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 15 THE CREDIT UNION USES MCLAGAN, AN AON HEWITT COMPANY, TO CONSULT REGARDING COMPENSATION PRACTICES. THE CREDIT UNION PARTICIPATES IN AND PURCHASES SEVERAL COMPENSATION STUDIES, AND MCLAGAN ANALYZES THE DATA AND PROVIDES A WRITTEN REPORT TO THE COMPENSATION COMMITTEE OF THE BOARD. THIS INFORMATION IS PROVIDED ANNUALLY RELATED TO THE CEO, MOST RECENTLY IN 2018, AND BI-ENNIALLY RELATED TO OTHER OFFICERS, MOST RECENTLY IN 2017. THE COMPENSATION COMMITTEE RECOMMENDS AND APPROVES SALARY CHANGES FOR THE CEO, AND REVIEWS THE CEO'S DECISIONS FOR OTHER OFFICERS ANNUALLY. COMPENSATION OF KEY EMPLOYEES IS SUBJECT TO REVIEW AND APPROVAL OF THE CEO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER COMPREHENSIVE INCOME 471,194. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GEORGIA'S OWN FOUNDATION INC 100 PEACHTREE ST NW SUITE 3250 ATLANTA GA 30303 474818845 FOUNDATION TO AWARD GRANTS GA 501(C)(3) LINE 7 GEORGIA'S OWN CREDIT UNION 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 GEORGIA'S OWN FOUNDATION INC B 176540 FMV