Credit Unions In The State Of Alabama is located in Tuscaloosa, AL. The organization was established in 1941. 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, Credit Unions In The State Of Alabama employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Credit Unions In The State Of Alabama 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, Credit Unions In The State Of Alabama generated $821.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $749.6k during the year ending 12/2022. 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 FOR ITS 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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Castie Kinard Manager/ceo | Officer | 40 | $47,598 |
Russell Lawrence Supervisory | Officer | 1 | $0 |
Phillip Simpson Supervisory | Officer | 1 | $0 |
Jack Thompson Supervisory | Officer | 1 | $0 |
Lester Walker Credit Commi | Officer | 1 | $0 |
Keith Hardemon Credit Commi | Officer | 1 | $0 |
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 | $629,934 |
Investment income | $108,389 |
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 | $821,644 |
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 | $272,586 |
Pension plan accruals and contributions | $27,296 |
Other employee benefits | $38,552 |
Payroll taxes | $24,129 |
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 | $47,399 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $42,557 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $18,100 |
Interest | $35,949 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $4,064 |
Total functional expenses | $749,553 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,339,171 |
Savings and temporary cash investments | $10,642,016 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $8,419,082 |
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 | $17,242 |
Net Land, buildings, and equipment | $215,178 |
Investments—publicly traded securities | $0 |
Investments—other securities | $305,137 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $205,370 |
Total assets | $21,143,196 |
Accounts payable and accrued expenses | $306,092 |
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 | $16,509,954 |
Total liabilities | $16,816,046 |
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 | $4,327,150 |
Total liabilities and net assets/fund balances | $21,143,196 |
Organization Name | Assets | Revenue |
---|---|---|
State Chartered Credit Unions In Florida Jonesville, FL | $2,692,290,378 | $122,435,815 |
Florida Credit Union Gainesville, FL | $1,449,934,229 | $94,300,981 |
Atlanta Postal Credit Union Atlanta, GA | $2,565,202,791 | $86,141,254 |
Georgia United Credit Union Duluth, GA | $1,880,574,240 | $80,835,681 |
State Chartered Credit Unions In Florida Dunedin, FL | $2,485,154,200 | $95,219,795 |
State Chartered Credit Unions In Florida Jacksonville, FL | $2,430,634,345 | $94,716,587 |
Lge Community Credit Union Atlanta, GA | $1,989,595,139 | $81,568,561 |
Associated Credit Union Norcross, GA | $2,094,343,004 | $74,274,351 |
Max Credit Union Montgomery, AL | $2,021,706,470 | $76,797,432 |
Credit Unions In The State Of Alabama Birmingham, AL | $3,681,543,052 | $74,996,749 |
Credit Unions In The State Of Alabama Sheffield, AL | $1,142,398,865 | $57,547,152 |
Credit Unions Of Alabama Tuscaloosa, AL | $1,400,922,106 | $57,798,045 |