State Chartered Credit Unions In North Carolina
- Assets
- $9.0m
- Revenue
- $321.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Hickory, NC
- Founding
- Data as of
- 12/2016
- EIN
- 56-6089354
Organization Overview
State Chartered Credit Unions In North Carolina is located in Hickory, NC. As of 12/2016, State Chartered Credit Unions In North Carolina employed 5 individuals. State Chartered Credit Unions In North Carolina 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, State Chartered Credit Unions In North Carolina generated $321.9k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $325.3k during the year ending 12/2016. 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
TO PROVIDE LOANS, SHARE ACCOUNTS, CERTIFICATES, DRAFTS, ATM ACCESS AND OTHER SERVICES TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL MEMBERS: 1,460 TOTAL SHARES: $6,168,093 TOTAL LOANS: 670 TOTAL LOAN AMOUNT: $4,054,099
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed 3725 10th St Dr Ne Hickory Nc 28601 | OfficerTrustee | 40 | $55,000 |
Robert K Johnson 715 21st Ave Dr Nw Hickory Nc 28601 | Trustee | 0 | $0 |
Stan Sturgess 961 36th Ave Ct Ne, Hickory, Nc 28601 | Trustee | 0 | $0 |
Allison Watts 1065 Rink Dam Road Taylorsville Nc 28681 | Trustee | 0 | $0 |
Bobbie Landrum 2805 Pax Hill Road Morganton Nc 28655 | Trustee | 0 | $0 |
Kathy Young 2209 1st St Ne, Hickory, Nc 28601 | Trustee | 0 | $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 | $282,272 |
| Investment income | $39,605 |
| 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 | $321,877 |
| 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. | $55,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,964 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $17,141 |
| Advertising and promotion | $2,435 |
| Office expenses | $72,991 |
| 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 | $3,940 |
| Interest | $14,957 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $325,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $241,574 |
| Savings and temporary cash investments | $4,638,050 |
| 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 | $4,050,953 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,766 |
| Net Land, buildings, and equipment | $4,043 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $80,489 |
| Total assets | $9,041,875 |
| Accounts payable and accrued expenses | $17,854 |
| 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 | $6,168,093 |
| Total liabilities | $6,185,947 |
| 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 | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,855,928 |
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