Southern Pine Credit Union
- Assets
- $39.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Lake Park, GA
- Founding
- Data as of
- 12/2022
- EIN
- 58-6035178
Organization Overview
Southern Pine Credit Union is located in Lake Park, GA. As of 12/2022, Southern Pine Credit Union employed 9 individuals. Southern Pine 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 12/2022, Southern Pine Credit Union generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 4 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
2022
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
NON-INTEREST EXPENSE & PROVISION FOR LOAN LOSS
INTEREST EXPENSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jimmy Bridges Board Mem | Trustee | 1 | $0 |
Cameron Engskow Board Vice C | Trustee | 1 | $0 |
Ed Martin Bod Mem/aud | OfficerTrustee | 1 | $0 |
Tylla Williams Board Sec/au | OfficerTrustee | 1 | $0 |
Rusty Youngblood Board Chr/au | OfficerTrustee | 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 | $1,043,899 |
| Investment income | $217,113 |
| 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 | $1,359,998 |
| 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 | $349,824 |
| Pension plan accruals and contributions | $15,251 |
| Other employee benefits | $91,124 |
| Payroll taxes | $27,656 |
| 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 | $163,198 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,844 |
| Travel | $3,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $97,211 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | -$47,088 |
| Total functional expenses | $1,020,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,261,786 |
| Savings and temporary cash investments | $10,071,526 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,801,427 |
| 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 | $57,229 |
| Net Land, buildings, and equipment | $22,997 |
| Investments—publicly traded securities | $86,199 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $468,618 |
| Total assets | $39,769,782 |
| Accounts payable and accrued expenses | $424,033 |
| 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 | $35,793,136 |
| Total liabilities | $36,217,169 |
| Net assets without donor restrictions | $0 |
| 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 | $3,552,613 |
| Total liabilities and net assets/fund balances | $39,769,782 |