Workmens Circle Credit Union
- Assets
- $110.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Savannah, GA
- Founding
- 01/2010
- Data as of
- 12/2022
- EIN
- 58-6038163
Organization Overview
Workmens Circle Credit Union is located in Savannah, GA. The organization was established in 2010. 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 12/2022, Workmens Circle Credit Union employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workmens Circle 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, Workmens Circle Credit Union generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 9.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A CREDIT UNION SERVING 1672 MEMBERS WHO LIVE OR WORK IN CHATHAM CO BUT DO NOT HAVE ANOTHER OCCUPATIONAL CREDIT UNION THAT THEY MAY JOIN
Describe the Organization's Program Activity:
Part 3 - Line 4a
A CREDIT UNION SERVING 1672 MEMBERS WHO LIVE OR WORK IN CHATHAM COUNTY BUT DO NOT HAVE ANOTHER OCCUPATIONAL CREDIT UNION THAT THEY MAY JOIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris A Miltiades President | OfficerTrustee | 40 | $161,656 |
Donna A Smith Assistant Secretary | Officer | 40 | $92,020 |
Lloyd Goodman MD Committee Chairman | Trustee | 2 | $0 |
Paul Kulbersh DMD Director | Trustee | 2 | $0 |
Harold Yellin Board Chairman | Trustee | 2 | $0 |
Fred Rabhan DPM Secretary | Trustee | 2 | $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 | $2,837,390 |
| Investment income | $549,626 |
| 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 | $3,391,934 |
| 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. | $253,676 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $242,519 |
| Pension plan accruals and contributions | $31,350 |
| Other employee benefits | $53,433 |
| Payroll taxes | $37,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,627 |
| Fees for services: Accounting | $42,796 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $31,168 |
| Office expenses | $58,596 |
| Information technology | $25,998 |
| Royalties | $0 |
| Occupancy | $17,092 |
| Travel | $2,682 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,221 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,847 |
| Insurance | $2,833 |
| All other expenses | $60,203 |
| Total functional expenses | $1,980,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $41,302,529 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,766,794 |
| Loans from Officers, Directors, or Controlling Persons | $22,621 |
| 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 | $463,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,149,598 |
| Intangible assets | $0 |
| Other assets | $1,090,272 |
| Total assets | $110,795,129 |
| Accounts payable and accrued expenses | $75,280 |
| 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 | $88,858,878 |
| Total liabilities | $88,934,158 |
| 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 | $554,849 |
| Retained earnings, endowment, accumulated income, or other funds | $21,306,122 |
| Total liabilities and net assets/fund balances | $110,795,129 |
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