Pathway Credit Union
- Assets
- $6.6m
- Revenue
- $405.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Cleveland, TN
- Founding
- 06/1952
- Data as of
- 12/2021
- EIN
- 62-6081645
Organization Overview
Pathway 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, Pathway Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Pathway 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, Pathway Credit Union generated $405.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $448.3k during the year ending 12/2021. While expenses have increased by 11.4% 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
TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES SEVERAL DEPOSIT ACCOUNT TYPES TO MEMBERS INCLUDING SAVINGS, CHECKING CERTIFICATE AND OTHER. THE TOTAL NUMBER OF MEMBERS AS OF 12/31/2021 WAS 890.
THE CREDIT UNION PROVIDES A VARIETY OF LOANS TO MEMBERS. THE TOTAL NUMBER OF LOANS OUTSTANDING AT 12/31/2021 WAS 12,434.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Rice Manager/ceo | Officer | 40 | $62,604 |
Robert Mccall Chairperson | Trustee | 1 | $0 |
Leto Zacharia Vice Chair | Trustee | 1 | $0 |
Carissa Beasley Secretary | Trustee | 1 | $0 |
Walter Browning Treasurer | Trustee | 1 | $0 |
Michael Luithle Director | 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 | $387,595 |
| Investment income | $17,977 |
| 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 | $405,572 |
| 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. | $65,673 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,440 |
| Pension plan accruals and contributions | $2,400 |
| Other employee benefits | $326 |
| Payroll taxes | $8,328 |
| 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 | $21,353 |
| Advertising and promotion | $1,737 |
| Office expenses | $23,611 |
| Information technology | $21,479 |
| Royalties | $0 |
| Occupancy | $21,787 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $425 |
| Interest | $23,948 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,016 |
| Insurance | $9,258 |
| All other expenses | $89 |
| Total functional expenses | $448,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,003 |
| Savings and temporary cash investments | $1,609,578 |
| 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 | $4,708,741 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,945 |
| Net Land, buildings, and equipment | $165,265 |
| Investments—publicly traded securities | $38,785 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,354 |
| Total assets | $6,625,671 |
| Accounts payable and accrued expenses | $19,554 |
| 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 | $6,200,051 |
| Total liabilities | $6,219,605 |
| 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 | $406,066 |
| Total liabilities and net assets/fund balances | $6,625,671 |
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