African American Credit Union Coalition
- Assets
- $452.5k
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 8
- Location
- Snellville, GA
- Founding
- 04/2003
- Data as of
- 12/2023
- EIN
- 57-1091138
Organization Overview
African American Credit Union Coalition is located in Snellville, GA. The organization was established in 2003. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, African American Credit Union Coalition employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. African American Credit Union Coalition 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 12/2023, African American Credit Union Coalition generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 27.7% each year . All expenses for the organization totaled $2.6m during the year ending 12/2023. While expenses have increased by 25.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AFRICAN AMERICAN CREDIT UNION COALITION'S MISSION STATEMENT IS TO INCREASE DIVERSITY WITHIN THE CREDIT UNION COMMUNITY THROUGH ADVOCACY AND PROFESSIONAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BOARD-READY TRAINING SERIES WAS DESIGNED TO HELP ENHANCE LEADERSHIP SKILLS AND PREPARE BOARD MEMBERS TO SERVE WITH IMPACT ON NONPROFIT BOARDS WITHIN THE COMMUNITY
THE DEI LEADERSHIP ACADEMY WAS ESTABLISHED FOR FINANCIAL PROFESSIONALS AND IS DESIGNED TO INSPIRE AND EMPOWER FINANCIAL PROFESSIONALS TO LEAD WITH A MINDSET OF DIVERSITY, EQUITY, AND INCLUSION TO BETTER REPRESENT AND SERVE THE GLOBAL COMMUNITIES WE SERVE.
CONFERENCES WERE HELD DURING THE YEAR TO PROMOTE INTERNSHIP AND MENTORSHIP PROGRAMS AND TO CREATE OPPORTUNITIES FOR VARIOUS CREDIT UNIONS AND CREDIT UNION PROVIDERS TO MEET AND WORK WITH ONE ANOTHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whitney M Anderson Chair | Trustee | 2 | $0 |
Tracey Jackson Vice Chair | Trustee | 2 | $0 |
Priscilla Awkard Secretary | Trustee | 2 | $0 |
Marvin T York Treasurer | Trustee | 2 | $0 |
Timothy L Anderson Director | Trustee | 2 | $0 |
John Bissell Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,437 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,194 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $118,631 |
| Total Program Service Revenue | $2,183,408 |
| Investment income | $10,086 |
| 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 | $2,475,988 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,000 |
| 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. | $288,096 |
| Compensation of current officers, directors, key employees. | $65,696 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $373,871 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,441 |
| Payroll taxes | $32,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,249 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $308,590 |
| Advertising and promotion | $39,511 |
| Office expenses | $61,681 |
| Information technology | $3,756 |
| Royalties | $0 |
| Occupancy | $93,966 |
| Travel | $115,015 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,884 |
| All other expenses | $23,835 |
| Total functional expenses | $2,558,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,879 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $243,637 |
| 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 | $11,504 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $48,487 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $452,507 |
| Accounts payable and accrued expenses | $60,380 |
| Grants payable | $0 |
| Deferred revenue | $175,000 |
| 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 | $235,380 |
| Net assets without donor restrictions | $105,365 |
| Net assets with donor restrictions | $111,762 |
| 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 | $452,507 |
Grants Awarded
Over the last fiscal year, African American Credit Union Coalition has awarded $21,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICA'S CREDIT UNION MUSEUM FOUNDATION PURPOSE: TO SUPPORT THE EXHIBIT CHRONICLING THE CREDIT UNION HISTORY OF AFRICAN AMERICAN. | $10,000 |
WORLD COUNCIL OF CREDIT UNIONS INC PURPOSE: TO SUPPORT ITS MISSION OF HELPING THE WORLD'S WORKING POOR IMPROVE THEIR LIVES THROUGH QUALITY CREDIT UNIONS. | $11,000 |