Southeastern Regional Credit Union Schools Inc
- Assets
- $385.9k
- Revenue
- $188.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lynchburg, VA
- Founding
- 04/1989
- Data as of
- 12/2021
- EIN
- 54-1427746
Organization Overview
Southeastern Regional Credit Union Schools Inc is located in Lynchburg, VA. The organization was established in 1989. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Regional Credit Union Schools Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Southeastern Regional Credit Union Schools Inc generated $188.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $133.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.1%) 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
THE PRIMARY GOAL OF THE SCHOOL IS TO EDUCATE EMPLOYEES AND VOLUNTEERS OF CREDIT UNIONS IN THE SOUTHEAST REGION OF THE US THROUGH THE USE OF SPECIFIC TRAINING SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES ARE INCURRED FROM EDUCATING INDIVIDUALS WHO SERVE THE CREDIT UNION INDUSTRY AS AN EMPLOYEE OR VOLUNTEER AND THE REVENUE IS FROM REGISTRATION FEES FOR ATTENDIGN THE TRAINING SCHOOLS. THE GRANTS ARE FOR SUPPORTING CREDIT UNIONS AND LEAGUES IN THEIR EFFORTS TO EDUCATE EMPLOYEES AND VOLUNTEERS WHO SERVE THE CREDIT UNION INDUSTRY.
SCHOLARSHIPS GRANTED TO CREDIT UNIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Robinson Chairman | OfficerTrustee | 1 | $0 |
Charles Elliott Vice Chairman | OfficerTrustee | 1 | $0 |
Karima Freeman Asst Secretary/treas | OfficerTrustee | 2 | $0 |
Carrie Hunt Secretary/treasurer | OfficerTrustee | 1 | $0 |
Patrick Lapine Director | Trustee | 1 | $0 |
Debbie Painter Director | 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 | $3,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,600 |
| Total Program Service Revenue | $184,036 |
| Investment income | $810 |
| 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 | $188,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,935 |
| 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 | $31,250 |
| 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 | $99 |
| 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 | $77,405 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $941 |
| Total functional expenses | $133,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,867 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $385,867 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $385,867 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $385,867 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commonwealth Credit Union Frankfort, KY | $1,891,090,350 | $88,350,902 |
Municipal Employees Credit Union Of Baltimore Inc Baltimore, MD | $1,362,108,647 | $60,211,083 |
Vizo Financial Corporate Credit Union Greensboro, NC | $5,382,501,749 | $155,341,145 |
Park Community Credit Union Inc Louisville, KY | $1,121,794,262 | $53,014,034 |
Self Help Credit Union Durham, NC | $1,341,389,804 | $52,319,101 |
Leaders Credit Union Jackson, TN | $642,989,895 | $47,507,703 |
State Chartered Credit Unions In North Carolina Durham, NC | $720,522,330 | $47,882,386 |
Point Breeze Credit Union Hunt Valley, MD | $935,513,107 | $29,545,819 |
First South Financial Credit Union Bartlett, TN | $775,898,594 | $36,735,546 |
Southeast Financial Credit Union Franklin, TN | $457,364,506 | $24,675,556 |
Volunteer Corporate Credit Union Nashville, TN | $2,404,399,500 | $49,925,746 |
Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |