Chattanooga Federal Employees Cu
- Assets
- $64.3m
- Revenue
- $2.2m
- Investments
- $256.2k
- Employees
- 11
- Location
- Chattanooga, TN
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 62-0156027
Organization Overview
Chattanooga Federal Employees Cu is located in Chattanooga, TN. The organization was established in 1952. 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, Chattanooga Federal Employees Cu employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Chattanooga Federal Employees Cu 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, Chattanooga Federal Employees Cu generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 4.1% per year over the past 7 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Fraker CEO | Officer | 40 | $119,695 |
Jack Boran Board Presid | Trustee | 1 | $0 |
Neal Dekich Board Vice P | Trustee | 1 | $0 |
Judy Mahaffey Board Secret | Trustee | 1 | $0 |
William K Combs Board Member | Trustee | 1 | $0 |
Laura Sharp Board Member | 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 | $1,876,283 |
| Investment income | $230,194 |
| 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 | $2,162,079 |
| 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 | $401,639 |
| Pension plan accruals and contributions | $29,108 |
| Other employee benefits | $101,301 |
| Payroll taxes | -$71,934 |
| 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 | $91,144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,932 |
| Interest | $295,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $27,582 |
| Total functional expenses | $1,603,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,745,446 |
| Savings and temporary cash investments | $22,982,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,911,035 |
| 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 | $2,268,395 |
| Net Land, buildings, and equipment | $434,321 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $256,209 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $666,175 |
| Total assets | $64,263,581 |
| Accounts payable and accrued expenses | $43,750 |
| 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 | $53,214,466 |
| Total liabilities | $53,258,216 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,573,944 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,431,421 |
| Total liabilities and net assets/fund balances | $64,263,581 |