Self Help Credit Union
- Assets
- $1.8b
- Revenue
- $92.8m
- Investments
- $1.4m
- Employees
- 0
- Location
- Durham, NC
- Founding
- 08/1969
- Data as of
- 12/2023
- EIN
- 56-1382971
Organization Overview
Self Help Credit Union is located in Durham, NC. The organization was established in 1969. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Self Help Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Self Help Credit Union generated $92.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $63.1m during the year ending 12/2023. While expenses have increased by 9.5% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE OWNERSHIP AND ECONOMIC OPPORTUNITIES FOR ALL, ESPECIALLY PEOPLE OF COLOR, WOMEN, RURAL RESIDENTS,LOW-WEALTH FAMILIES AND COMMUNITIES. WE PROVIDE LOANS TO MEMBERS AT REASONABLE RATES AND PAY COMPETITIVE RATES OF INTEREST TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CONSUMER, MORTGAGE AND BUSINESS LOAN TO MEMBERS AT REASONABLE RATES. A TOTAL OF 3,464 LOANS WERE ORIGINATED IN 2023. PROVIDED SERVICES AND PAID COMPETITIVES RATES OF INTEREST TO MEMBERS. TOTAL MEMBERS SERVED 88,388.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Chambers President | Officer | 0 | $0 |
Holton Wilkerson Director | Trustee | 0 | $0 |
Martin Eakes Ceodirector | OfficerTrustee | 0 | $0 |
Kerri J Smith Regional President | 40 | $0 | |
Lewis A Dancy SVP | 40 | $0 | |
Ronald Wiley Regional Director | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Coxschepp Constructions Llc Construction Servi | 12/30/23 | $358,691 |
Baker Roofing Company Appraisalvaluatio | 12/30/23 | $129,217 |
Nationwide Property Appraisal Ser Appraisalvaluatio | 12/30/23 | $111,910 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $83,817,878 |
| Investment income | $9,029,113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,846,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,654 |
| Fees for services: Accounting | $102,052 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $509,992 |
| Office expenses | $3,571,867 |
| Information technology | $1,465,953 |
| Royalties | $0 |
| Occupancy | $3,011,162 |
| Travel | $457,916 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,060 |
| Interest | $20,922,701 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,818,015 |
| Insurance | $301,935 |
| All other expenses | $2,575,589 |
| Total functional expenses | $63,096,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,554,197 |
| Savings and temporary cash investments | $142,695,814 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,657,286 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,492,372,620 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $750,851 |
| Net Land, buildings, and equipment | $54,870,971 |
| Investments—publicly traded securities | $10,565,422 |
| Investments—other securities | $1,421,300 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,801,402 |
| Total assets | $1,759,689,863 |
| Accounts payable and accrued expenses | $37,359,303 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,724,525 |
| Unsecured mortgages and notes payable | $243,000,000 |
| Other liabilities | $1,237,342,832 |
| Total liabilities | $1,520,426,660 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $239,263,203 |
| Total liabilities and net assets/fund balances | $1,759,689,863 |