Workmens Circle Credit Union
- Assets
- $119.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 7
- Location
- Savannah, GA
- Founding
- 01/2010
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Workmens Circle Credit Union generated $5.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $4.6m during the year ending 12/2023. While expenses have increased by 19.3% 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
A CREDIT UNION SERVING 1646 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 1646 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 |
|---|---|---|---|
Lloyd Goodman MD Committee Chairman | Trustee | 2 | $0 |
Paul Kulbersh DMD Director | Trustee | 2 | $0 |
Fred Rabhan DPM Secretary | Trustee | 2 | $0 |
Harold Yellin Board Chairman | Trustee | 2 | $0 |
Stephen Greenberg Committee Chairman | Trustee | 2 | $0 |
Gale Hirsh Director | 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 | $4,359,646 |
| Investment income | $856,390 |
| 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 | $5,224,623 |
| 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. | $259,167 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $259,755 |
| Pension plan accruals and contributions | $32,822 |
| Other employee benefits | $58,232 |
| Payroll taxes | $38,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$1,749 |
| Fees for services: Accounting | $60,688 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,156 |
| Office expenses | $53,295 |
| Information technology | $28,864 |
| Royalties | $0 |
| Occupancy | $18,339 |
| Travel | $6,129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,782 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,070 |
| Insurance | $40,682 |
| All other expenses | $95,115 |
| Total functional expenses | $4,596,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,479,322 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $89,251,056 |
| Loans from Officers, Directors, or Controlling Persons | $65,722 |
| 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 | $450,356 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,336,409 |
| Intangible assets | $0 |
| Other assets | $1,136,109 |
| Total assets | $119,718,974 |
| Accounts payable and accrued expenses | $208,007 |
| 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 | $96,786,814 |
| Total liabilities | $96,994,821 |
| 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 | $22,169,304 |
| Total liabilities and net assets/fund balances | $119,718,974 |