Appliance Credit Union
- Assets
- $15.3m
- Revenue
- $536.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Cleveland, TN
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 62-0873575
Organization Overview
Appliance Credit Union is located in Cleveland, 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 12/2021, Appliance Credit Union employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Appliance 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 12/2021, Appliance Credit Union generated $536.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $557.1k during the year ending 12/2021. While expenses have increased by 1.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES SERVICES TO MEMBERS IN THE FORM OF LOANS, DEPOSIT ACCOUNTS, ETC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS AND DEPOSITS FOR MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Kalb Vice President | Trustee | 0.23 | $0 |
Jk Barrineau President | Trustee | 0.23 | $0 |
Edwin Curtis Secretary | Trustee | 0.23 | $0 |
Donald J Mccowan Treasurer | Trustee | 0.23 | $0 |
Cathy Brown Education Director | Trustee | 0.23 | $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 | $331,829 |
| Investment income | $8,974 |
| Tax Exempt Bond Proceeds | $16,441 |
| 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 | $536,076 |
| 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 | $276,134 |
| Pension plan accruals and contributions | $7,492 |
| Other employee benefits | $14,892 |
| Payroll taxes | $20,650 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,403 |
| 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 | $26,766 |
| Information technology | $34,886 |
| Royalties | $0 |
| Occupancy | $55,665 |
| Travel | $4,887 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,374 |
| Insurance | $11,459 |
| All other expenses | $19,848 |
| Total functional expenses | $557,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,021,148 |
| Savings and temporary cash investments | $4,218,428 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,717,885 |
| 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 | $41,264 |
| Net Land, buildings, and equipment | $1,220,687 |
| Investments—publicly traded securities | $2,044,365 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,263,777 |
| Accounts payable and accrued expenses | $546,021 |
| 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 | $12,907,419 |
| Total liabilities | $13,453,440 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,810,337 |
| Total liabilities and net assets/fund balances | $15,263,777 |
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