The Wright Credit Union
- Assets
- $16.3m
- Revenue
- $852.3k
- Investments
- $7.2k
- Employees
- 9
- Location
- Toccoa, GA
- Founding
- 11/2001
- Data as of
- 12/2022
- EIN
- 58-6040949
Organization Overview
The Wright Credit Union is located in Toccoa, GA. The organization was established in 2001. 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, Wright Credit Union employed 9 individuals. Wright 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, Wright Credit Union generated $852.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $654.8k during the year ending 12/2022. While expenses have increased by 9.8% per year over the past 3 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
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alaina Lacount Manager/trea | Officer | 40 | $58,481 |
Josh Addison Director | Trustee | 1 | $0 |
Lindy Grafton Secretary | Trustee | 1 | $0 |
Sheila Pressley Vice Preside | Trustee | 1 | $0 |
Mark Richardson President | Trustee | 1 | $0 |
Tyler Taylor Audit Chair | Trustee | 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 | $706,946 |
| Investment income | $63,024 |
| 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 | $852,328 |
| 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 | $244,311 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,832 |
| Payroll taxes | $19,872 |
| 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 | $96,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,163 |
| Travel | $4,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,841 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $16,009 |
| Total functional expenses | $654,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,670,734 |
| Savings and temporary cash investments | $5,608,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,434,716 |
| 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 | $86,888 |
| Net Land, buildings, and equipment | $303,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,202 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $196,729 |
| Total assets | $16,307,584 |
| Accounts payable and accrued expenses | $72,006 |
| 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 | $13,616,655 |
| Total liabilities | $13,688,661 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $398,858 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,220,065 |
| Total liabilities and net assets/fund balances | $16,307,584 |