Jack Daniel Employees Credit Union
- Assets
- $45.8m
- Revenue
- $1.9m
- Investments
- $4.7m
- Employees
- 8
- Location
- Lynchburg, TN
- Founding
- 06/1952
- Data as of
- 12/2022
- EIN
- 62-1014489
Organization Overview
Jack Daniel Employees Credit Union is located in Lynchburg, 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, Jack Daniel Employees Credit Union employed 8 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Jack Daniel Employees 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, Jack Daniel Employees Credit Union generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 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 8.1% 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 INTERMEDIARY AND FINANCIAL SERVICES FOR MEMBERSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES LOAN FACILITIES OF VARIOUS TYPES INCLUDING SIGNATURE AND COLLATERALIZED VARIETIES.
THE ORGANIZATION PROVIDES DEPOSITORY SERVICES IN A VARIETY OF ACCOUNTS INCLUDING SAVINGS, DRAFT, CERTIFICATES AND RETIREMENT ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Case CEO | OfficerTrustee | 40 | $110,008 |
Jessica Horton Compliance Offi | Officer | 40 | $59,973 |
Sunya Dangerfield Operations | Officer | 40 | $54,580 |
George Nolen Chairman | OfficerTrustee | 1 | $0 |
Larry Hatfield Vice Chairman | OfficerTrustee | 1 | $0 |
Tommy Cauble 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 | $1,501,509 |
| Investment income | $115,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,211 |
| 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 | $1,923,888 |
| 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. | $224,561 |
| Compensation of current officers, directors, key employees. | $224,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $264,821 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $71,534 |
| Payroll taxes | $0 |
| 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 | $252,424 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,290 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,001 |
| Interest | $237,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,462 |
| Insurance | $0 |
| All other expenses | $47,051 |
| Total functional expenses | $1,571,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,967,900 |
| Savings and temporary cash investments | $5,601,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $31,799,389 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $445,953 |
| Net Land, buildings, and equipment | $1,224,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,725,435 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,929 |
| Total assets | $45,817,005 |
| Accounts payable and accrued expenses | $232,426 |
| 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 | $41,129,619 |
| Total liabilities | $41,362,045 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,643,501 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,811,459 |
| Total liabilities and net assets/fund balances | $45,817,005 |