C E M C Employees Credit Union
- Assets
- $2.4m
- Revenue
- $115.7k
- Investments
- $225.0k
- Employees
- 4
- Location
- Clarksville, TN
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 62-6041068
Organization Overview
C E M C Employees Credit Union is located in Clarksville, TN. The organization was established in 1952. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, C E M C Employees Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. C E M C Employees 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 12/2021, C E M C Employees Credit Union generated $115.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $110.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Von Palko Manager | Officer | 40 | $50,015 |
Teresa Brown Supervisory | Officer | 1 | $0 |
Magan Morgan Supervisory | Officer | 1 | $0 |
Joanie Baggett Employee | Officer | 20 | $0 |
Kayla Jackson Superviosry | Officer | 1 | $0 |
Gary Peterson President | Trustee | 1 | $0 |
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 | $112,167 |
| Investment income | $458 |
| 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 | $115,702 |
| 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 | $76,160 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,430 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,492 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $110,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $481,009 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,600,806 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,774 |
| Net Land, buildings, and equipment | $724 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $224,956 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,343 |
| Total assets | $2,352,612 |
| Accounts payable and accrued expenses | $7,957 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,916,663 |
| Total liabilities | $1,924,620 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $113,191 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $314,801 |
| Total liabilities and net assets/fund balances | $2,352,612 |
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