LEADERS CREDIT UNION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- LEADERS CREDIT UNION (EIN 62-0681671)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-10-28
- IRS object ID
- 202013029349300036
- Schema version
- 2019v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-10-28T10:01:42-07:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 620681671 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LEADERS CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LEAD | BusinessNameControlTxt |
| Phone | 7316641784 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 87 Murray Guard Drive Suite A | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38305 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Seth Rudd | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 7316641784 | PhoneNum |
| Signature | 2020-09-15 | SignatureDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 68.216.166.26 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2021-04-22 16:20:28Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Leaders Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Todd Swims | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 87 Murray Guard Drive Suite | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38305 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $34,678,622 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 1182 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.leaderscu.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1957 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | Provision of financial services to members in the form of loans, share accounts and other financial institutional services. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 168 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $714,885 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $15,371,495 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $18,069,120 | CYProgramServiceRevenueAmt |
| PY Investment Income | $449,493 | PYInvestmentIncomeAmt |
| CY Investment Income | $682,355 | CYInvestmentIncomeAmt |
| PY Other Revenue | $13,670,620 | PYOtherRevenueAmt |
| CY Other Revenue | $15,850,094 | CYOtherRevenueAmt |
| PY Total Revenue | $29,491,608 | PYTotalRevenueAmt |
| CY Total Revenue | $34,601,569 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $16,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $16,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $10,371,022 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $12,492,964 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $14,313,301 | PYOtherExpensesAmt |
| CY Other Expenses | $16,884,160 | CYOtherExpensesAmt |
| PY Total Expenses | $24,700,323 | PYTotalExpensesAmt |
| CY Total Expenses | $29,393,124 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,791,285 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,208,445 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $389,102,601 | TotalAssetsBOYAmt |
| Total Assets EOY | $441,961,763 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $343,508,845 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $390,826,150 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $45,593,756 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $51,135,613 | NetAssetsOrFundBalancesEOYAmt |
| Mission | State chartered credit union that provides financial services to members in the form of loans, share accounts and other financial institutional services. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Provision of financial services to members in the form of loans, share accounts and other financial institutional services (53,208 members). | Desc |
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | Yes (1) | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 10443 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | 0 | BackupWthldComplianceInd |
| Employee | 168 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Todd Swims | PersonNm |
| Phone | 7316641784 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 87 Murray Guard Drive Suite A | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38305 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| Todd Swims | ||||||||
| Manager/CEO | 40 | 0 | Yes (X) | $533,653 | $0 | $86,597 | ||
| Spencer Pratt | ||||||||
| Executive VP | 40 | 0 | $283,960 | $0 | $31,019 | Yes (X) | ||
| Seth Rudd | ||||||||
| Chief Financial Officer | 40 | 0 | $228,674 | $0 | $27,709 | Yes (X) | ||
| Chris Gray | ||||||||
| VP Mortgage | 40 | 0 | $247,104 | $0 | $8,313 | Yes (X) | ||
| Jared Freeman | ||||||||
| Chief Experience Officer | 40 | 0 | $205,197 | $0 | $20,472 | Yes (X) | ||
| Leigh Anne | ||||||||
| VP Marketing | 40 | 0 | $150,420 | $0 | $19,568 | Yes (X) | ||
| Ron Hill | ||||||||
| Board Chairperson | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Diane Kelley | ||||||||
| Board Secretary | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Kirk Newcom | ||||||||
| Board Member | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Eddie Hays | ||||||||
| Board Vice-Chairperson | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Currie Higgs | ||||||||
| Board Member | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Rusty Butcher | ||||||||
| Board Treasurer | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Eddie Mae Pirtle | ||||||||
| Board Member | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Dave Bratcher | ||||||||
| Board Member | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Bart Teague | ||||||||
| Board Member | 2 | 0 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,649,008 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $193,678 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line2ContractorAddress/USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|
| PSCU | ||||||
| 560 Carillon Parkway | St Petersburg | FL | 33716 | Debit and credit card services | $1,650,906 | |
| Fiserv | ||||||
| PO Box 745148 | Atlanta | GA | 30374 | Data Processing | $974,286 | |
| NCR | ||||||
| PO Box 740641 | Los Angeles | CA | 90074 | Home Banking Services | $712,617 | |
| QSI INC | ||||||
| 107 Schuler Drive | Bardstown | KY | 40004 | Bank Equipment and servicing | $466,611 | |
| Open Lending | ||||||
| 901 S Mopac Expressway | Austin | TX | 78746 | Loan decisioning | $395,867 | Bldg One Ste 510 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Interest on Loans | Desc |
| Business | 522130 | BusinessCd |
| Total Revenue Column | $18,069,120 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $18,069,120 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $18,069,120 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $693,925 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $693,925 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $147,948 | RealAmt |
| Personal | $0 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $39,569 | RealAmt |
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $108,379 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $108,379 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $108,379 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $25,914 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $37,484 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | -$11,570 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$11,570 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$11,570 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Fee Income | Desc |
| Business | 522130 | BusinessCd |
| Total Revenue Column | $12,688,629 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,649,975 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $38,654 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,053,086 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,376,855 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $676,231 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $15,741,715 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $34,601,569 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $33,778,305 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $714,885 | UnrelatedBusinessRevenueAmt |
| Exclusion | $108,379 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $594,763 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,825,772 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $494,815 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $854,022 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $723,592 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,510 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,239 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $510,506 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $510,550 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $875,815 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,066,723 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $656,409 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,311 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $70,463 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,627,876 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,002,662 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $160,919 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Provision-Loan & overdraft | $2,089,000 |
| ATM/POS Card expense | $2,008,908 |
| Loan servicing expense | $1,712,817 |
| Home banking expense | $794,909 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $473,543 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,393,124 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,035,884 | BOYAmt |
| EOY | $5,093,391 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,932,777 | BOYAmt |
| EOY | $22,326,339 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $328,799,124 | BOYAmt |
| EOY | $374,095,595 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $798,000 | BOYAmt |
| EOY | $2,683,499 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $606,302 | BOYAmt |
| EOY | $693,755 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $19,479,167 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,937,620 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,613,794 | BOYAmt |
| EOY | $13,541,547 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,066,749 | BOYAmt |
| EOY | $13,540,878 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,249,971 | BOYAmt |
| EOY | $9,986,759 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $389,102,601 | BOYAmt |
| EOY | $441,961,763 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,255,104 | BOYAmt |
| EOY | $3,948,024 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $241,263 | BOYAmt |
| EOY | $175,609 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,766,639 | BOYAmt |
| EOY | $12,154,887 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $322,245,839 | BOYAmt |
| EOY | $374,547,630 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $343,508,845 | BOYAmt |
| EOY | $390,826,150 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,946,146 | BOYAmt |
| EOY | $22,850,598 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,647,610 | BOYAmt |
| EOY | $28,285,015 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,593,756 | BOYAmt |
| EOY | $51,135,613 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $389,102,601 | BOYAmt |
| EOY | $441,961,763 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $5,208,445 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $333,412 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Political Expenditures | $1,000 | PoliticalExpendituresAmt |
| Volunteer Hours | 0 | VolunteerHoursCnt |
| Expended527 Activities | $0 | Expended527ActivitiesAmt |
| Internal Funds Contributed | $1,000 | InternalFundsContributedAmt |
| Total Exempt Function Expend | $1,000 | TotalExemptFunctionExpendAmt |
| Form1120 POL Filed | Yes (1) | Form1120POLFiledInd |
Section527 Political Org Section527PoliticalOrgGrp
Organization Business Name OrganizationBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Tennessee Credit Union League | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 21550 | AddressLine1Txt |
| City | Chattanooga | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 37424 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 422728395 | EIN |
| Paid Internal Funds | $1,000 | PaidInternalFundsAmt |
| Contributions Rcvd Dlvr | $0 | ContributionsRcvdDlvrAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule C, Part I-A, Line 1 | FormAndLineReferenceDesc |
| Explanation | Schedule C, Part I-A, Line 1 - Schedule C, Part 1-A, Line 1- Contributions were made to a PAC. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $90,000 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $3,257,144 | OtherCostOrOtherBasisAmt |
| Book Value | $3,347,144 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $913,983 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $10,386,910 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,091,045 | DepreciationAmt |
| Book Value | $8,209,848 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $4,831,130 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,846,575 | DepreciationAmt |
| Book Value | $1,984,555 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,541,547 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Member Deposits | Desc |
| Amt | $374,547,630 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $374,547,630 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $34,652,712 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $0 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Recoveries Prior Year Grants | $0 | RecoveriesPriorYearGrantsAmt |
| Other Revenue | $51,143 | OtherRevenueAmt |
| Revenue Not Reported | $51,143 | RevenueNotReportedAmt |
| Revenue Subtotal | $34,601,569 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $0 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $34,601,569 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $29,444,267 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $0 | DonatedServicesUseFcltsAmt |
| Prior Year Adjustments | $0 | PriorYearAdjustmentsAmt |
| Losses Reported | $0 | LossesReportedAmt |
| Other Expenses Included | $51,143 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $51,143 | ExpensesNotReportedAmt |
| Expenses Subtotal | $29,393,124 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $0 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $29,393,124 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 | The Credit Union is exempt by statue, from federal and state income taxes on business related income. The Credit Union and its subsidiary file an informational return with the Internal Revenue Service. The Credit Union accounts for uncertain tax positions in accordance with GAAP. There were no uncertain tax positions reported in 2019 or 2018 in the consolidated financial statements. In the event of an uncertain tax position, the Credit Union would record interest expense and penalties related to uncertain tax positions as interest expense and other noninterest expense, respectively. |
| Schedule D, Part XI, Line 2d | Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding 4. |
| Schedule D, Part XII, Line 2d | Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding 4. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Business Name Line2RecipientBusinessName/BusinessNameLine2Txt | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| Jackson & Madison County Chamber of Commerce | ||||||||||
| dba Jackson Chamber | 197 Auditorium St | Jackson | TN | 38301 | 620154490 | 501(c)(6) | $6,000 | $0 | book | Forward Jackson campaign to improve Jackson. Economic development capital campaign funded by local investors and focused on four initiatives: regional and local economic development, tourism, workforce development and small businesses. |
| Jackson-Madison County School System | ||||||||||
| 310 N Parkway | Jackson | TN | 38305 | 626000732 | JMCSS | $10,000 | $0 | book | Annual teacher inservice and general fund | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 | FormAndLineReferenceDesc |
| Explanation | Schedule I, Part I, Line 2 - Jackson & Madison County Chamber of Commerce- The Forward Jackson 2.0 campaign provides an annual report and is audited yearly by a third-party accounting firm. Jackson-Madison County School System- Leaders attends the in-service event that we sponsor at the $10,000 level. Any money not used for the day's events goes to their general fund. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Todd Swims | ||||||||||||||
| Manager/CEO | $302,671 | $0 | $99,684 | $0 | $131,298 | $0 | $65,887 | $0 | $20,710 | $0 | $620,250 | $0 | $0 | $0 |
| Spencer Pratt | ||||||||||||||
| Executive VP | $194,248 | $0 | $41,721 | $0 | $47,990 | $0 | $12,636 | $0 | $18,383 | $0 | $314,978 | $0 | $0 | $0 |
| Seth Rudd | ||||||||||||||
| Chief Financial Officer | $174,301 | $0 | $38,239 | $0 | $16,134 | $0 | $10,080 | $0 | $17,629 | $0 | $256,383 | $0 | $0 | $0 |
| Jared Freeman | ||||||||||||||
| Chief Experience Officer | $164,062 | $0 | $32,916 | $0 | $8,220 | $0 | $8,401 | $0 | $12,071 | $0 | $225,670 | $0 | $0 | $0 |
| Chris Gray | ||||||||||||||
| VP Mortgage | $117,383 | $0 | $129,230 | $0 | $491 | $0 | $7,042 | $0 | $1,271 | $0 | $255,417 | $0 | $0 | $0 |
| Leigh Anne | ||||||||||||||
| VP Marketing | $115,728 | $0 | $24,799 | $0 | $9,893 | $0 | $7,497 | $0 | $12,071 | $0 | $169,988 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a | Directors of the Credit Union and executives attended certain seminars and events that were for the business purposes of the Credit Union. Spouses of certain directors and executives also went on these trips and certain travel expenses were paid for by the Credit Union. The Credit Union was reimbursed by the directors, the expense was offset by mileage expense owed to the directors, and/or the spouses expense was reported to the spouse on a 1099-MISC. The executive's spouse travel expense was grossed up and reported as compensation on the executive's W-2. Country Club dues were paid on behalf of the CEO and were grossed up and reported as compensation on the CEO's W-2. |
| Schedule J, Part I, Line 3 | Human resource manager uses Compease salary administration program to determine responsibilities and compensation for employees at all levels. Compease uses industry specific job descriptions, evaluation system and geographic salary ranges to develop compensation ranges. A compensation committee approves overall salary budget and CEO compensation based on Compease research. |
| Schedule J, Part I, Line 4 | The CEO of the Credit Union was participating in a 457(f) plan. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Todd Swims | PersonNm |
| Relationship With Org | Manager/CEO | RelationshipWithOrgTxt |
| Loan Purpose | Collateral assignment Split Dollar Life Insurance | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $798,000 | OriginalPrincipalAmt |
| Balance Due | $2,683,499 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $2,683,499 | TotalBalanceDueAmt |
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Gourmet Your Way | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Son of board member | RelationshipDescriptionTxt |
| Transaction | $13,029 | TransactionAmt |
| Transaction | Catering | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Because Leaders Credit Union is considered a mutual entity, members are considered individuals or business that qualify for membership. Anyone living, working, worshipping, or attending school in Madison or Lake counties in Tennessee; employees working at one of our Select Employee Groups (SEGs); and employees or members of one of our Associational Groups are eligible for membership. The credit union is a not-for-profit corporation with members. The members elect the members of the board of directors (governing body) and the governing body is not the organization's only members. The members can receive a share of the organizations profits or a share of the organization's net assets upon dissolution. |
| Form 990, Part VI, Section A, Line 7a | A quorum of members at the annual meeting elect one or more members of the board of directors (governing body) as vacancies arise, based on nominations of the nominating committee. |
| Form 990, Part VI, Section A, Line 7b | A quorum of members at the annual meeting elect one or more members of the board of directors (governing body) as vacancies arise, based on nominations of the nominating committee. |
| Form 990, Part VI, Section B, Line 11b | The IRS form was prepared by the accounting manager and was reviewed by the CFO prior to submission to the IRS. A copy was provided to the board after filing. |
| Form 990, Part VI, Section B, Line 12c | Conflicts of Interest Policy enforcement is the responsibility of the Internal Compliance Officer that reports directly to the Supervisory Committee regarding any exceptions to policy. Additionally, the board and management of the Credit Union review and address potential conflicts of interest should they arise. |
| Form 990, Part VI, Section B, Line 13 | We do not have a specific Whistleblower Policy but there are sections within the Employee handbook that cover reporting conduct or violations. |
| Form 990, Part VI, Section B, Line 14 | We do not have a written document destruction policy. However, we follow the rules of the Department of Financial Institutions Retention of Records Chapter 0180-2 found on the Tennessee Department of Financial Institutions website. |
| Form 990, Part VI, Section B, Line 15 | Human resource manager uses Compease salary administration program to determine responsibilities and compensation for employees at all levels. Compease uses industry specific job descriptions, evaluation system and geographic salary ranges to develop compensation ranges. A compensation committee approves overall salary budget and CEO compensation based on Compease research. |
| Form 990, Part VI, Section C, Line 19 | The organization's governing documents and conflicts of interest policy are available to the public upon request. The financial statements are posted annually in the lobby at 214 Oil Well Rd. in Jackson, TN. |
| Form 990, Part XI, Line 9 | Rental expense for real property held for investment in the amount of $39,569 is netted against rental income in Part VIII Statement of Revenue on the 990 but is included in expenses on the audited financial statements. Loss on sale of assets in the amount of $11,570, is deducted from revenue in Part VIII, but is included in expenses on the audited financial statements. Rounding . |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Leaders Edge LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 Murray Guard Drive Suite A | AddressLine1Txt |
| City | Jackson | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38305 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 455571653 | EIN |
| Primary Activities | Indirect Lending | PrimaryActivitiesTxt |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Total Income | $464,104 | TotalIncomeAmt |
| End Of Year Assets | $113,852 | EndOfYearAssetsAmt |
| Direct Controlling NA | N/A | DirectControllingNACd |