Tennessee Credit Union League Inc
- Assets
- $7.7m
- Revenue
- $1.7m
- Investments
- $820.0k
- Employees
- 1
- Location
- Chattanooga, TN
- Founding
- 01/1983
- Data as of
- 12/2022
- EIN
- 62-0456811
Organization Overview
Tennessee Credit Union League Inc is located in Chattanooga, TN. The organization was established in 1983. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Tennessee Credit Union League Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Tennessee Credit Union League Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 5.8% 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
CREDIT UNION TRADE ASSOCIATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TENNESSEE CREDIT UNION LEAGUE REPRESENTS APPROXIMATELY 130 MEMBER CREDIT UNIONS SERVED ON A STATEWIDE BASIS AND A REGIONAL BASIS THROUGH 7 REGIONAL CHAPTERS. MEMBERS HAVE ACCESS TO EDUCATIONAL PROGRAMS, MEETINGS, SERVICES AND INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Parham Director | Trustee | 0 | $0 |
Jessica Grostic Director | Trustee | 0 | $0 |
Shelly Brown Director | Trustee | 0 | $0 |
Dawn Graeter Director | Trustee | 0 | $0 |
John Hunter Director | Trustee | 0 | $0 |
Ken Swann Chairman | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,097,421 |
| 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 | $1,097,421 |
| Total Program Service Revenue | $403,969 |
| Investment income | $89,440 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,979 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,684,557 |
| 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. | $427,618 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,848 |
| Fees for services: Management | $766,699 |
| Fees for services: Legal | $48,683 |
| Fees for services: Accounting | $14,320 |
| Fees for services: Lobbying | $66,508 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,566 |
| Office expenses | $21,764 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,360 |
| Travel | $72,491 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $293,564 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,863,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $722,634 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,967 |
| Loans from Officers, Directors, or Controlling Persons | $1,638,844 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,281 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,486,660 |
| Investments—other securities | $820,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,706,386 |
| Accounts payable and accrued expenses | $474,667 |
| Grants payable | $0 |
| Deferred revenue | $347,974 |
| 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 | $0 |
| Total liabilities | $822,641 |
| Net assets without donor restrictions | $6,760,880 |
| Net assets with donor restrictions | $122,865 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,706,386 |