Tva Community Credit Union
- Assets
- $393.7m
- Revenue
- $12.1m
- Investments
- $235.3m
- Employees
- 101
- Location
- Muscle Shoals, AL
- Founding
- 06/1971
- Data as of
- 12/2022
- EIN
- 63-0306291
Organization Overview
Tva Community Credit Union is located in Muscle Shoals, AL. The organization was established in 1971. According to its NTEE Classification (A32) the organization is classified as: Television, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Tva Community Credit Union employed 101 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Tva Community 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, Tva Community Credit Union generated $12.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $8.8m during the year ending 12/2022. While expenses have increased by 1.6% 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 - TO PROVIDE FINANCIAL SERVICES TO 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimball Burkett CEO | 1 | $443,577 | |
Pam Green Retired | 1 | $289,414 | |
Sammy Clements CEO | Officer | 40 | $160,399 |
Sherry Vaughn CFO | Officer | 40 | $77,424 |
David Nichols Supervisory | Officer | 1 | $0 |
James Jim Green Board Mem | Officer | 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 | $7,069,079 |
| Investment income | $4,529,807 |
| 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 | $12,113,228 |
| 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 | $2,643,407 |
| Pension plan accruals and contributions | $501,623 |
| Other employee benefits | $435,384 |
| Payroll taxes | $223,614 |
| 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 | $803,721 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $561,053 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,944 |
| Interest | $1,540,227 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $155,293 |
| All other expenses | $154,748 |
| Total functional expenses | $8,841,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,901,358 |
| Savings and temporary cash investments | $3,248,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,046,738 |
| 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 | $845,094 |
| Net Land, buildings, and equipment | $7,280,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $235,347,776 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,037,230 |
| Total assets | $393,706,380 |
| Accounts payable and accrued expenses | $853,978 |
| 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 | $371,117,882 |
| Total liabilities | $371,971,860 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $38,712,749 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$16,978,229 |
| Total liabilities and net assets/fund balances | $393,706,380 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Florida Pbs Inc Boynton Beach, FL | $14,560,451 | $12,247,643 |
Florida West Coast Public Broadcasting Inc Tampa, FL | $30,023,542 | $11,394,460 |
Tva Community Credit Union Muscle Shoals, AL | $393,706,380 | $12,113,228 |
Wjct Inc Jacksonville, FL | $12,343,309 | $9,727,343 |
Nashville Public Television Inc Nashville, TN | $12,793,637 | $7,603,671 |
Florida Public Broadcasting Service Inc St Petersburg, FL | $2,072,166 | $4,812,558 |
Johnsonville Tva Employees Credit U Camden, TN | $144,344,492 | $5,400,399 |
East Tennessee Public Communications Corporation Knoxville, TN | $6,653,863 | $3,794,703 |
World Christian Broadcasting Corporation Franklin, TN | $9,955,319 | $2,836,248 |
Greater Chattanooga Public Television Corporation Chattanooga, TN | $5,254,275 | $2,478,366 |
Upper Cumberland Broadcast Council Cookeville, TN | $3,187,769 | $2,605,281 |
Television Association Of Programmers Latin America Coral Gables, FL | $1,544,634 | $2,503,677 |