Riverdale Credit Union
- Assets
- $72.7m
- Revenue
- $6.3m
- Investments
- $3.3m
- Employees
- 15
- Location
- Selma, AL
- Founding
- Data as of
- 12/2016
- EIN
- 63-0580628
Organization Overview
Riverdale Credit Union is located in Selma, AL. As of 12/2016, Riverdale Credit Union employed 15 individuals. Riverdale 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 12/2016, Riverdale Credit Union generated $6.3m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $5.8m during the year ending 12/2016. While expenses have increased by 10.4% per year over the past 2 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
2016
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 TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda S Walker President/ce | Officer | 40 | $130,158 |
Percy L Ealum Supervisory | Officer | 1 | $0 |
Willie E Smiley Credit Com C | Officer | 1 | $0 |
David L Rinehart Credit Com M | Officer | 1 | $0 |
Darren Atchison Supervisoryc | Officer | 1 | $0 |
Byron Allison Credit Com M | Officer | 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 | $5,869,723 |
| Investment income | $88,692 |
| 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 | $6,293,291 |
| 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 | $859,436 |
| Pension plan accruals and contributions | $252,073 |
| Other employee benefits | $193,608 |
| Payroll taxes | $66,168 |
| 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 | $418,769 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $191,060 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,931 |
| Interest | $571,779 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $107,074 |
| Total functional expenses | $5,769,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,210,359 |
| Savings and temporary cash investments | $2,056,142 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $59,828,410 |
| 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 | $1,617,317 |
| Net Land, buildings, and equipment | $1,348,052 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,304,232 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,309,311 |
| Total assets | $72,673,823 |
| Accounts payable and accrued expenses | $845,706 |
| 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 | $4,262,920 |
| Other liabilities | $58,685,238 |
| Total liabilities | $63,793,864 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $5,700,002 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $8,879,959 |
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