Civic Intelligence

Hampton Roads Educators' Credit Union Inc

990 • Fiscal year 2022 • EIN 54-0623257

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 26, 2023

Organization ProfileWWW.HRECU.ORG

View Organization Page

2130 Cunningham DriveHampton, VA 23666

(757) 838-0707

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

0.95x

Higher debt load relative to assets than 97% of similar nonprofits.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

48th percentile

21.79x

Higher debt load relative to revenue than 48% of similar nonprofits.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2022

Net Margin

35th percentile

8.2%

Higher net margin than 35% of similar nonprofits.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

38th percentile

$93,559

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2022

Asset Growth

83rd percentile

6.3%

Faster asset growth than 83% of similar nonprofits.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

19th percentile

-1.7%

Faster revenue growth than 19% of similar nonprofits.

2022 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$41,695,486

Up $2,456,612 (+6.3%) from 2021

Net Assets

Down

$1,980,034

Down $164,025 (-7.7%) from 2021

Liabilities

Up

$39,715,452

Up $2,620,637 (+7.1%) from 2021

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin35th percentile

Revenue

Down

$1,823,029

Down $31,430 (-1.7%) from 2021

Expenses

Up

$1,673,580

Up $35,459 (+2.2%) from 2021

Net Income

Down

$149,449

Down $66,889 (-31%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $28,381,524Liabilities 2010: $26,528,231Net Assets 2010: $1,853,2932010Assets 2011: $28,160,658Liabilities 2011: $26,568,454Net Assets 2011: $1,592,2042011Assets 2012: $28,721,199Liabilities 2012: $27,343,439Net Assets 2012: $1,377,7602012Assets 2013: $29,816,570Liabilities 2013: $28,073,450Net Assets 2013: $1,743,1202013Assets 2014: $29,293,884Liabilities 2014: $27,707,069Net Assets 2014: $1,586,8152014Assets 2015: $28,483,512Liabilities 2015: $27,282,397Net Assets 2015: $1,201,1152015Assets 2016: $30,724,234Liabilities 2016: $29,464,685Net Assets 2016: $1,259,5492016Assets 2017: $31,263,996Liabilities 2017: $29,646,467Net Assets 2017: $1,617,5292017Assets 2018: $31,679,689Liabilities 2018: $29,930,308Net Assets 2018: $1,749,3812018Assets 2019: $31,226,873Liabilities 2019: $29,852,404Net Assets 2019: $1,374,4692019Assets 2020: $35,162,377Liabilities 2020: $33,781,057Net Assets 2020: $1,381,3202020Assets 2021: $39,238,874Liabilities 2021: $37,094,815Net Assets 2021: $2,144,0592021Assets 2022: $41,695,486Liabilities 2022: $39,715,452Net Assets 2022: $1,980,0342022Assets 2023: $42,749,283Liabilities 2023: $39,893,798Net Assets 2023: $2,855,4852023Assets 2024: $42,629,409Liabilities 2024: $39,098,725Net Assets 2024: $3,530,6842024Assets 2025: $44,680,099Liabilities 2025: $40,390,107Net Assets 2025: $4,289,9922025

Highlighted filing

2022

Assets$41,695,486
Liabilities$39,715,452
Net Assets$1,980,034
Open 2022 Filing

Operations Trend

Revenue Growth19th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,074,9912010Revenue 2011: $1,440,944Expenses 2011: $1,482,668Net Income 2011: -$41,7242011Expenses 2012: $2,119,5552012Expenses 2013: $1,801,0722013Revenue 2014: $1,885,150Expenses 2014: $1,861,126Net Income 2014: $24,0242014Revenue 2015: $1,881,121Expenses 2015: $1,824,083Net Income 2015: $57,0382015Revenue 2016: $1,719,850Expenses 2016: $1,702,764Net Income 2016: $17,0862016Revenue 2017: $1,777,876Expenses 2017: $1,645,398Net Income 2017: $132,4782017Revenue 2018: $1,873,591Expenses 2018: $1,784,332Net Income 2018: $89,2592018Revenue 2019: $1,958,963Expenses 2019: $1,793,208Net Income 2019: $165,7552019Revenue 2020: $1,765,985Expenses 2020: $1,637,388Net Income 2020: $128,5972020Revenue 2021: $1,854,459Expenses 2021: $1,638,121Net Income 2021: $216,3382021Revenue 2022: $1,823,029Expenses 2022: $1,673,580Net Income 2022: $149,4492022Revenue 2023: $2,070,345Expenses 2023: $1,941,823Net Income 2023: $128,5222023Revenue 2024: $2,292,107Expenses 2024: $2,102,539Net Income 2024: $189,5682024Revenue 2025: $2,566,952Expenses 2025: $2,237,774Net Income 2025: $329,1782025

Highlighted filing

2022

Revenue$1,823,029
Expenses$1,673,580
Net Income$149,449
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 26, 2023
Return Version
2021v4.0
Gross Receipts
$1,823,029
Mission and Program Overview

Mission

Credit unions are organized to provide financial services to members. Credit unions are exempt by federal tax.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$19,062,656$21,122,547▲ $2,059,891
Other Notes and Loans Receivable, Net$14,793,737$15,672,653▲ $878,916
Cash and Non-Interest-Bearing Accounts$2,284,036$2,107,282▼ $176,754
Rtn Earn Endowment Incm Other Fnds$2,144,059$1,980,034▼ $164,025
Land, Buildings, and Equipment, Net$141,564$124,885▼ $16,679
Prepaid Expenses and Deferred Charges$54,491$64,909▲ $10,418
Investments Other Securities$40,000$40,000→ $0
Accounts Receivable$15,401$4,437▼ $10,964
Total Assets$39,238,874$41,695,486▲ $2,456,612
Other Assets Total$2,846,989$2,558,773▼ $288,216
Liabilities
Other Liabilities$36,698,620$39,326,015▲ $2,627,395
Accounts Payable and Accrued Expenses$396,195$389,437▼ $6,758
Total Liabilities$37,094,815$39,715,452▲ $2,620,637
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,144,059$1,980,034▼ $164,025
Total Liabilities and Net Assets / Fund Balance$39,238,874$41,695,486▲ $2,456,612

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$70,748$712,926$783,674
Equipment$54,137$218,458$272,595
Other Assets Org$21,966--
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karen OrieManager/CEOFT$93,559$93,559

Board Members and Trustees

NameTitle
Cornelious ChamblissBoard Chairm
James C WarrenBoard 1st Vi
Jacqueline Smith-watsonBoard 2nd Vi
Gloria WinderBoard Secret
Kimberly SharpeBoard Secret
Donald SandridgeBoard Treasu
Anita R HolleyDirector
Keisha SamuelsDirector
Lynda BurkeDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Fiserv- Atm & Debit CardData ProcessingPO BOX 934057, Atlanta, GA 31193-4057$227,822
Fis - Credit CardData ProcessingPO BOX 4535, Carol Stream, IL 60197$152,728
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,501,523
Investment Income
$245,316
Other Revenue
$76,190
Change in Net Assets
$149,449

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,823,029
Total Revenue per Audited Statements
$1,823,029
Total Revenue per Form 990
$1,823,029
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$938,876
Salaries, Compensation, and Employee Benefits$721,576
Grants and Similar Amounts Paid$13,128
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$500,363--$500,363
Fees for Services Other$122,728--$122,728
Office Expenses$107,982--$107,982
Current Officers, Directors, Trustees, and Key Employees$101,603--$101,603
Other Employee Benefits$74,778--$74,778
Advertising$49,471--$49,471
Payroll Taxes$44,832--$44,832
Occupancy$32,012--$32,012
Insurance$30,700--$30,700
Depreciation Depletion$24,640--$24,640
Other Expenses$24,328--$24,328
Interest$22,590--$22,590
Fees for Services Accounting$22,292--$22,292
Information Technology$13,371--$13,371
Conferences and Meetings$11,204--$11,204
Grants to Domestic Orgs$8,528--$8,528
All Other Expenses$6,167--$6,167
Grants to Domestic Individuals$4,600--$4,600
Fees for Services Legal$4,430--$4,430
Travel$2,579--$2,579
Total Functional Expenses$1,673,580$0$0$1,673,580

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,673,580
Total Expenses per Audited Statements$1,673,580
Total Expenses per Form 990$1,673,580
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' DEPOSITS$39,326,015
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“The members annually elect the board of directors.”

Form 990, Page 6, Part VI, Line 7B

“By-law changes must be approved by the members.”

Form 990, Page 6, Part VI, Line 11B

“Copies of the form 990 are distributed to all board members as well as the chair of the supervisory committee for review and discussion. Board members will get a copy of the 990 before filing only if the board meeting is prior to the filing deadline. If not, they will get a copy at the next scheduled board meeting.”

Form 990, Page 6, Part VI, Line 12C

“Staff are required to report conflicts of interest to management and are required to sign a statement yearly. They are also required to report any outside employment to management.”

Form 990, Page 6, Part VI, Line 15A

“Salary survey information from cuna is used by the personnel policies committee in determining the salary to be presented to the board. The information from cuna includes comparability data. Ceo compensation is approved by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Salary survey information from cuna is used by the personnel policies committee to determine salary recommendations. Other officers- and key employees' compensation are approved by the ceo.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon request. The financial statements are posted in the lobby.”

Filing and Contact Details

Filer

Filer Name
HAMPTON ROADS EDUCATORS'
EIN
54-0623257
Phone
7578380707
Address
2130 CUNNINGHAM DRIVE, HAMPTON, VA 23666

Signing Officer

Name
Karen Orie
Title
Manager/CEO
Phone
7578380707
Signed
2023-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cornelious Chambliss
Formed
1954
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
16
Volunteers
24

Preparer

Firm
A Rohm Smith & Company
Address
11832 ROCK LANDING DR STE 101, NEWPORT NEWS, VA 23606-4277
Preparer
Theresa Rohm CPA
Phone
7572239602
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers serve on the board of directors, the supervisory committee, the scholarship committee, and as teacher liaisons. Volunteers also work the student branches.”

Form 990, Page 2, Part III, Line 4D

“To provide financial services to its members.”

Form 990, Part XI, Line 9

“Net change in pension asset -313,474”

Financial Statement Notes

Schedule D, Page 3, Part X

“The credit union has adopted the provisions of financial accounting standards board accounting standards codification 740-10-25, which require that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The credit union does not believe its financial statments include any uncertain tax positions.”

Raw XML AppendixShowing 400 of 419 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt040000
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0124885
IRS990/LandBldgEquipCostOrOtherBssAmt01056269
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0CREDIT UNIONS ARE ORGANIZED TO PROVIDE FINANCIAL SERVICES TO MEMBERS. CREDIT UNIONS ARE EXEMPT BY FEDERAL TAX.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt01980034
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt032012
IRS990/OccupancyGrp/TotalAmt032012
IRS990/OfficeExpensesGrp/ProgramServicesAmt0107982
IRS990/OfficeExpensesGrp/TotalAmt0107982
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02846989
IRS990/OtherAssetsTotalGrp/EOYAmt02558773
IRS990/OtherChangesInNetAssetsAmt0-313474
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt074778
IRS990/OtherEmployeeBenefitsGrp/TotalAmt074778
IRS990/OtherExpensesGrp/Desc0ATM EXPENSES
IRS990/OtherExpensesGrp/Desc1LOAN SERVICING COSTS
IRS990/OtherExpensesGrp/Desc2SHARE AND BANK COSTS
IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt1171865
IRS990/OtherExpensesGrp/ProgramServicesAmt263174
IRS990/OtherExpensesGrp/ProgramServicesAmt324328
IRS990/OtherExpensesGrp/TotalAmt0229343
IRS990/OtherExpensesGrp/TotalAmt1171865
IRS990/OtherExpensesGrp/TotalAmt263174
IRS990/OtherExpensesGrp/TotalAmt324328
IRS990/OtherLiabilitiesGrp/BOYAmt036698620
IRS990/OtherLiabilitiesGrp/EOYAmt039326015
IRS990/OtherRevenueMiscGrp/Desc0MCA W/O REIMBURSEMENT PAYOUT
IRS990/OtherRevenueMiscGrp/Desc1LOAN LOSS PROVISION RECOVERY
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt061859
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt114331
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt061859
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt114331
IRS990/OtherRevenueTotalAmt076190
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0500363
IRS990/OtherSalariesAndWagesGrp/TotalAmt0500363
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt014793737
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt015672653
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt044832
IRS990/PayrollTaxesGrp/TotalAmt044832
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt054491
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt064909
IRS990/PrincipalOfficerNm0CORNELIOUS CHAMBLISS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON MEMBER LOANS
IRS990/ProgramServiceRevenueGrp/Desc1MEMBER SERVICE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01013943
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1487580
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01013943
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1487580
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt09781
IRS990/PYInvestmentIncomeAmt0226704
IRS990/PYOtherExpensesAmt0908785
IRS990/PYOtherRevenueAmt0177638
IRS990/PYProgramServiceRevenueAmt01450117
IRS990/PYRevenuesLessExpensesAmt0216338
IRS990/PYSalariesCompEmpBnftPaidAmt0719555
IRS990/PYTotalExpensesAmt01638121
IRS990/PYTotalRevenueAmt01854459
IRS990/ReconcilationRevenueExpnssAmt0149449
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02144059
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01980034
IRS990/SavingsAndTempCashInvstGrp/BOYAmt019062656
IRS990/SavingsAndTempCashInvstGrp/EOYAmt021122547
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt070748
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0712926
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0783674
IRS990ScheduleD/EquipmentGrp/BookValueAmt054137
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0218458
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0272595
IRS990ScheduleD/ExpensesSubtotalAmt01673580
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01991333
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1378475
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2109000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt357999
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt421966
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0PREPAID PENSION PLAN
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NUSIF DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FISERV EFT SETTLEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4OTHER ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt039326015
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS' DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt01823029
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAS ADOPTED THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION 740-10-25, WHICH REQUIRE THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CREDIT UNION DOES NOT BELIEVE ITS FINANCIAL STATMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0124885
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02558773
IRS990ScheduleD/TotalExpensesPerForm990Amt01673580
IRS990ScheduleD/TotalLiabilityAmt039326015
IRS990ScheduleD/TotalRevenuePerForm990Amt01823029
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01823029
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01673580
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS SERVE ON THE BOARD OF DIRECTORS, THE SUPERVISORY COMMITTEE, THE SCHOLARSHIP COMMITTEE, AND AS TEACHER LIAISONS. VOLUNTEERS ALSO WORK THE STUDENT BRANCHES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO PROVIDE FINANCIAL SERVICES TO ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERS ANNUALLY ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BY-LAW CHANGES MUST BE APPROVED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES OF THE FORM 990 ARE DISTRIBUTED TO ALL BOARD MEMBERS AS WELL AS THE CHAIR OF THE SUPERVISORY COMMITTEE FOR REVIEW AND DISCUSSION. BOARD MEMBERS WILL GET A COPY OF THE 990 BEFORE FILING ONLY IF THE BOARD MEETING IS PRIOR TO THE FILING DEADLINE. IF NOT, THEY WILL GET A COPY AT THE NEXT SCHEDULED BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5STAFF ARE REQUIRED TO REPORT CONFLICTS OF INTEREST TO MANAGEMENT AND ARE REQUIRED TO SIGN A STATEMENT YEARLY. THEY ARE ALSO REQUIRED TO REPORT ANY OUTSIDE EMPLOYMENT TO MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SALARY SURVEY INFORMATION FROM CUNA IS USED BY THE PERSONNEL POLICIES COMMITTEE IN DETERMINING THE SALARY TO BE PRESENTED TO THE BOARD. THE INFORMATION FROM CUNA INCLUDES COMPARABILITY DATA. CEO COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SALARY SURVEY INFORMATION FROM CUNA IS USED BY THE PERSONNEL POLICIES COMMITTEE TO DETERMINE SALARY RECOMMENDATIONS. OTHER OFFICERS- AND KEY EMPLOYEES' COMPENSATION ARE APPROVED BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NET CHANGE IN PENSION ASSET -313,474
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt039238874
IRS990/TotalAssetsEOYAmt041695486
IRS990/TotalAssetsGrp/BOYAmt039238874
IRS990/TotalAssetsGrp/EOYAmt041695486
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01673580
IRS990/TotalFunctionalExpensesGrp/TotalAmt01673580
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt037094815
IRS990/TotalLiabilitiesEOYAmt039715452
IRS990/TotalLiabilitiesGrp/BOYAmt037094815
IRS990/TotalLiabilitiesGrp/EOYAmt039715452
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02144059
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01980034
IRS990/TotalProgramServiceRevenueAmt01501523
IRS990/TotalReportableCompFromOrgAmt093559
IRS990/TotalRevenueGrp/ExclusionAmt0245316
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01577713
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01823029
IRS990/TotalVolunteersCnt024
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt039238874
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041695486
IRS990/TravelGrp/ProgramServicesAmt02579
IRS990/TravelGrp/TotalAmt02579
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.HRECU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KAREN ORIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07578380707
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HAMPTON ROADS EDUCATORS'
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CREDIT UNION INC
ReturnHeader/Filer/BusinessNameControlTxt0HAMP
ReturnHeader/Filer/EIN0540623257
ReturnHeader/Filer/PhoneNum07578380707
ReturnHeader/Filer/USAddress/AddressLine1Txt02130 CUNNINGHAM DRIVE

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,695,486
Liabilities
$39,715,452
Net assets
$1,980,034
Revenue
$1,823,029
Expenses
$1,673,580
Net income
$149,449
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$44.7$40.4$4.29$2.57$2.24$0.33
2024Detailed filing. Detailed filing data is available for this year.$42.6$39.1$3.53$2.29$2.10$0.19
2023Detailed filing. Detailed filing data is available for this year.$42.7$39.9$2.86$2.07$1.94$0.13
2022Detailed filing. Detailed filing data is available for this year.$41.7$39.7$1.98$1.82$1.67$0.15
2021Detailed filing. Detailed filing data is available for this year.$39.2$37.1$2.14$1.85$1.64$0.22
2020Detailed filing. Detailed filing data is available for this year.$35.2$33.8$1.38$1.77$1.64$0.13
2019Detailed filing. Detailed filing data is available for this year.$31.2$29.9$1.37$1.96$1.79$0.17
2018Detailed filing. Detailed filing data is available for this year.$31.7$29.9$1.75$1.87$1.78$0.09
2017Detailed filing. Detailed filing data is available for this year.$31.3$29.6$1.62$1.78$1.65$0.13
2016Detailed filing. Detailed filing data is available for this year.$30.7$29.5$1.26$1.72$1.70$0.02
2015Detailed filing. Detailed filing data is available for this year.$28.5$27.3$1.20$1.88$1.82$0.06
2014Detailed filing. Detailed filing data is available for this year.$29.3$27.7$1.59$1.89$1.86$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.8$28.1$1.74$1.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.7$27.3$1.38$2.12
2011Summary only. Only limited summary data is available for this year.$28.2$26.6$1.59$1.44$1.48$0.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.4$26.5$1.85$2.07