Brassies Credit Union
- Assets
- $3.7m
- Revenue
- $201.4k
- Investments
- $825.0k
- Employees
- 3
- Location
- Anniston, AL
- Founding
- 01/1967
- Data as of
- 12/2019
- EIN
- 63-0337435
Organization Overview
Brassies Credit Union is located in Anniston, AL. The organization was established in 1967. 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 12/2019, Brassies Credit Union employed 3 individuals. Brassies 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 12/2019, Brassies Credit Union generated $201.4k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $240.0k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION - TO PROVIDE SERVICES FOR APPROXIMATELY 511 MEMBERS IN THE FORM OF LOANS, CHECKING AND SAVINGS ACCOUNTS, AND OTHER FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDED A VARIETY OF LOAN SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle L King Ceoboard Secretary-Treasurer | OfficerTrustee | 45 | $67,072 |
Pamela G Smith Office Mgrloan Officer | Officer | 40 | $45,380 |
Mack Harris Supervisory Committee Member | Officer | 1 | $0 |
David S Smith Supervisory Committee Member | Officer | 1 | $0 |
Laurie R Rigsby Supervisory Committee Chairpe | Officer | 1 | $0 |
Richard B Ray Board Vice Chairperson | 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 | $175,496 |
| Investment income | $26,609 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,312 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $201,393 |
| 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. | $79,790 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,547 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,662 |
| Payroll taxes | $7,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,520 |
| Fees for services: Accounting | $1,367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,357 |
| Advertising and promotion | $0 |
| Office expenses | $34,424 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,173 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,047 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,256 |
| Insurance | $6,570 |
| All other expenses | $558 |
| Total functional expenses | $239,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $267,445 |
| Savings and temporary cash investments | $370,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,003,425 |
| 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 | $2,212 |
| Net Land, buildings, and equipment | $125,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $825,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,062 |
| Total assets | $3,682,008 |
| Accounts payable and accrued expenses | $7,840 |
| 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 | $2,997,585 |
| Total liabilities | $3,005,425 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $620,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $56,583 |
| Total liabilities and net assets/fund balances | $3,682,008 |
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