Armstrong Federal Credit Union
- Assets
- $2.9m
- Revenue
- $201.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Jackson, MS
- Founding
- 09/1970
- Data as of
- 12/2016
- EIN
- 64-0383810
Organization Overview
Armstrong Federal Credit Union is located in Jackson, MS. The organization was established in 1970. 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 12/2016, Armstrong Federal Credit Union employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armstrong Federal 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 12/2016, Armstrong Federal Credit Union generated $201.1k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $192.8k during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A STATE CHARTERED CREDIT UNION PROVIDING LOANS AND SAVINGS ACCOUNTS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A STATE CHARTERED CREDIT UNION PROVIDING LOANS AND SAVINGS ACCOUNTS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Alford CEO Manager | Officer | 35 | $40,469 |
Betty Faye Pitts Comanager | Officer | 40 | $40,227 |
Michael Stevenson Chairman Of The Board Of Dire | OfficerTrustee | 2 | $0 |
Curtis Simpson Vice President Board Member | OfficerTrustee | 2 | $0 |
Christopher Crotwell Treasurer | OfficerTrustee | 2 | $0 |
Nathan Ponder Secretary Board Member | OfficerTrustee | 2 | $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 | $178,401 |
| Investment income | $3,709 |
| 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 | $201,094 |
| 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 | $89,343 |
| Pension plan accruals and contributions | $14,648 |
| Other employee benefits | $0 |
| Payroll taxes | $7,006 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,433 |
| Fees for services: Accounting | $4,739 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $480 |
| Advertising and promotion | $0 |
| Office expenses | $6,302 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,590 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,740 |
| Interest | $9,989 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,559 |
| Insurance | $7,539 |
| All other expenses | $19,770 |
| Total functional expenses | $192,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,456 |
| Savings and temporary cash investments | $637,300 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $90,859 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,058,903 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $375 |
| Net Land, buildings, and equipment | $1,426 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,772 |
| Total assets | $2,851,091 |
| Accounts payable and accrued expenses | $12,668 |
| 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 | $2,291,208 |
| Total liabilities | $2,303,876 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $547,215 |
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