Hanesbrands Credit Union
- Assets
- $42.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Winstonsalem, NC
- Founding
- 08/1969
- Data as of
- 12/2018
- EIN
- 56-0252055
Organization Overview
Hanesbrands Credit Union is located in Winstonsalem, 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. As of 12/2018, Hanesbrands Credit Union employed 12 individuals. Hanesbrands 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 12/2018, Hanesbrands Credit Union generated $1.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $1.4m during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF FEDERALLY-INSURED, STATE CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF FEDERALLY-INSURED, STATE CREDIT UNION.
OPERATION OF FEDERALLY-INSURED, STATE CREDIT UNION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Hewes Pres / Treas | OfficerTrustee | 40 | $97,050 |
Delphine Dennis Sec | Trustee | 3 | $0 |
Bruce Bowers Vice Chair | Trustee | 3 | $0 |
Damian Birkel Director | Trustee | 3 | $0 |
Kathy Alexander Mgr.- Member | Officer | 40 | $81,175 |
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 | $1,051,914 |
| Investment income | $522,472 |
| 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 | $1,574,386 |
| 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. | $178,225 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $386,747 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,562 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,627 |
| Fees for services: Accounting | $17,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,482 |
| Office expenses | $234,398 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,332 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,373 |
| Insurance | $31,958 |
| All other expenses | $188,896 |
| Total functional expenses | $1,418,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $614,121 |
| Savings and temporary cash investments | $14,109,735 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,381 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,067,915 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $108,459 |
| Net Land, buildings, and equipment | $1,408,592 |
| Investments—publicly traded securities | $10,217,082 |
| Investments—other securities | $0 |
| Investments—program-related | $320,495 |
| Intangible assets | $0 |
| Other assets | $398,942 |
| Total assets | $42,331,722 |
| Accounts payable and accrued expenses | $9,618 |
| 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 | $36,594,627 |
| Total liabilities | $36,604,245 |
| Unrestricted restricted net Assets | $5,727,477 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $5,727,477 |