Credit Unions Chartered In The State Of Alabama is located in Mobile, AL. The organization was established in 1972. 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 12/2022, Credit Unions Chartered In The State Of Alabama employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions Chartered In The State Of Alabama 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 12/2022, Credit Unions Chartered In The State Of Alabama generated $378.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $294.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THRIFT OPPORTUNITIES AND LOW COST LOANS TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEARLY 1,000 MEMBERS SERVED TO PROMOTE THRIFT OPPOTUNITIES AND LOW COST LOANS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jackie Wiley Manager | Officer | 40 | $0 |
David Alex Haupt Vice-President | Trustee | 1 | $0 |
Pat Mckeown President | Trustee | 1 | $0 |
Peter Keegan Treasurer | Trustee | 1 | $0 |
Lorna Hodges Secretary | Trustee | 1 | $0 |
Kevin Muscat Member | Trustee | 1 | $0 |
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 | $296,009 |
Investment income | $36,236 |
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 | $378,093 |
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. | $64,950 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $75,661 |
Pension plan accruals and contributions | $7,241 |
Other employee benefits | $12,830 |
Payroll taxes | $14,017 |
Fees for services: Management | $0 |
Fees for services: Legal | $150 |
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 | $6,349 |
Advertising and promotion | $2,877 |
Office expenses | $22,066 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $2,122 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $21,391 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,012 |
Insurance | $0 |
All other expenses | $6,139 |
Total functional expenses | $294,689 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $51,597 |
Savings and temporary cash investments | $4,195,539 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $5,211,130 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $7,077 |
Net Land, buildings, and equipment | $13 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $456,848 |
Total assets | $9,922,204 |
Accounts payable and accrued expenses | $381,661 |
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 | $8,228,670 |
Total liabilities | $8,610,331 |
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 | $1,311,873 |
Total liabilities and net assets/fund balances | $9,922,204 |
Organization Name | Assets | Revenue |
---|---|---|
State Chartered Credit Unions In Florida Jonesville, FL | $2,692,290,378 | $122,435,815 |
Florida Credit Union Gainesville, FL | $1,449,934,229 | $94,300,981 |
Atlanta Postal Credit Union Atlanta, GA | $2,565,202,791 | $86,141,254 |
Georgia United Credit Union Duluth, GA | $1,880,574,240 | $80,835,681 |
State Chartered Credit Unions In Florida Dunedin, FL | $2,485,154,200 | $95,219,795 |
State Chartered Credit Unions In Florida Jacksonville, FL | $2,430,634,345 | $94,716,587 |
Lge Community Credit Union Atlanta, GA | $1,989,595,139 | $81,568,561 |
Associated Credit Union Norcross, GA | $2,094,343,004 | $74,274,351 |
Max Credit Union Montgomery, AL | $2,021,706,470 | $76,797,432 |
Credit Unions In The State Of Alabama Birmingham, AL | $3,681,543,052 | $74,996,749 |
Credit Unions In The State Of Alabama Sheffield, AL | $1,142,398,865 | $57,547,152 |
Credit Unions Of Alabama Tuscaloosa, AL | $1,400,922,106 | $57,798,045 |