Civic Intelligence

Marshland Credit Union

990 • Fiscal year 2020 • EIN 58-0872500

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 30, 2021

Organization ProfileMARSHLANDCU.COM

View Organization Page

PO Box 1957Brunswick, GA 31524

(912) 279-2000

Siviq Scores

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

Liabilities / Assets

50th percentile

0.90x

Higher debt load relative to assets than 50% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

31st percentile

17.55x

Higher debt load relative to revenue than 31% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Net Margin

15th percentile

2.5%

Higher net margin than 15% of similar nonprofits.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

53rd percentile

$218,108

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2020 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets50th percentile

Assets

$179,205,295

No earlier filing loaded for comparison.

Net Assets

$18,371,909

No earlier filing loaded for comparison.

Liabilities

$160,833,386

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin15th percentile

Revenue

$9,165,369

No earlier filing loaded for comparison.

Expenses

$8,940,293

No earlier filing loaded for comparison.

Net Income

$225,076

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300M$200M$100M$0Assets 2020: $179,205,295Liabilities 2020: $160,833,386Net Assets 2020: $18,371,9092020Assets 2021: $202,229,939Liabilities 2021: $183,856,233Net Assets 2021: $18,373,7062021Assets 2022: $202,763,566Liabilities 2022: $189,253,469Net Assets 2022: $13,510,0972022Assets 2023: $222,618,305Liabilities 2023: $206,808,128Net Assets 2023: $15,810,1772023Assets 2024: $246,722,957Liabilities 2024: $229,578,395Net Assets 2024: $17,144,5622024

Highlighted filing

2020

Assets$179,205,295
Liabilities$160,833,386
Net Assets$18,371,909
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0Revenue 2020: $9,165,369Expenses 2020: $8,940,293Net Income 2020: $225,0762020Revenue 2021: $9,638,703Expenses 2021: $8,584,782Net Income 2021: $1,053,9212021Revenue 2022: $10,375,545Expenses 2022: $10,001,804Net Income 2022: $373,7412022Revenue 2023: $12,935,803Expenses 2023: $11,584,465Net Income 2023: $1,351,3382023Revenue 2024: $14,991,816Expenses 2024: $13,810,805Net Income 2024: $1,181,0112024

Highlighted filing

2020

Revenue$9,165,369
Expenses$8,940,293
Net Income$225,076
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 30, 2021
Return Version
2020v4.0
Gross Receipts
$9,165,369
Mission and Program Overview

Mission

Credit union - to provide services for approximately 17,256 members in the form of loans, savings, and other financial services.

Credit union - to provide financial services for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$96,447,726$99,078,515▲ $2,630,789
Investments Other Securities$17,413,177$36,929,184▲ $19,516,007
Cash and Non-Interest-Bearing Accounts$13,353,634$25,476,356▲ $12,122,722
Rtn Earn Endowment Incm Other Fnds$14,818,223$15,593,485▲ $775,262
Savings and Temporary Cash Investments$11,540,819$11,229,884▼ $310,935
Land, Buildings, and Equipment, Net$4,491,515$4,145,728▼ $345,787
Cap Stk Tr Prin Current Funds$2,778,424$2,778,424→ $0
Prepaid Expenses and Deferred Charges$3,271,334$380,850▼ $2,890,484
Total Assets$148,210,970$179,205,295▲ $30,994,325
Other Assets Total$1,692,765$1,964,778▲ $272,013
Liabilities
Other Liabilities$122,386,862$147,236,717▲ $24,849,855
Accounts Payable and Accrued Expenses$8,227,461$13,596,669▲ $5,369,208
Total Liabilities$130,614,323$160,833,386▲ $30,219,063
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,596,647$18,371,909▲ $775,262
Total Liabilities and Net Assets / Fund Balance$148,210,970$179,205,295▲ $30,994,325

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$868,288$3,483,232$4,351,520
Buildings$2,478,559$1,520,347$3,998,906
Land$744,375-$744,375
Other Land Buildings$54,504$64,013$118,517
Leasehold Improvements$2$7,428$7,430
Other Securities$296,859--
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff HolcombePresident/ceFT$178,832$39,276$218,108
Jeff HolcombePresident/CEO-$163,732$54,376$218,108
Matthew GriffinVP/CFOFT$126,618$18,680$145,298
Charlie LoveringVP/COOFT$124,707$18,184$142,891
Eric CroftVP of LendinFT$99,030$5,110$104,140

Board Members and Trustees

NameTitle
Larry RountreeChairman
Paul MckenzieVice Chair
Dale McnabbBod
John CatronBod
Kathy StrattonBod
Mark HamilBod
Jim AndersenSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,914,449
Investment Income
$770,046
Other Revenue
$1,480,874
Change in Net Assets
$225,076
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,554,474
Salaries, Compensation, and Employee Benefits$4,385,819
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$3,140,225-$3,140,225
Office Expenses-$1,717,309-$1,717,309
Interest-$913,266-$913,266
Other Employee Benefits-$798,671-$798,671
Occupancy-$411,861-$411,861
Payroll Taxes-$232,308-$232,308
Pension Plan Contributions-$214,615-$214,615
All Other Expenses-$138,851-$138,851
Other Expenses-$128,944-$128,944
Travel-$3,572-$3,572
Total Functional Expenses$0$8,940,293$0$8,940,293
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
Regular Drafts$60,086,525
All Other Shares$49,840,737
Share Drafts$37,309,455
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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 6

“The credit union is owned by the members.”

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

“The board of directors is elected by the membership (one member, one vote). All duties, powers, and responsibilities are controlled by the board of directors. The members elect the board of directors at the annual meeting each year.”

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

“Some decisions made by the board of directors are affirmed by the members.”

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

“The form 990 is reviewed by the manager. The form 990 is available for review by the board of directors upon request.”

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

“The board of directors monitor and enforce the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Financial documents are posted in the credit union lobby by the 15th of the subsequent month.”

Filing and Contact Details

Filer

Filer Name
Marshland Credit Union
EIN
58-0872500
Phone
9122792000
Address
PO BOX 1957, BRUNSWICK, GA 31524

Signing Officer

Name
Matthew Griffin
Title
VP/CFO
Phone
9122792000
Signed
2021-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Holcombe
Formed
1953
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
65
Volunteers
8

Preparer

Firm
Cu Audit & Compliance Group
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Marcus King
Phone
2054372176
Supplemental Narrative

Additional Explanations

Form 990, Page 5, Part V, Line 3B

“The credit union had no unrealted business income.”

Form 990, Part XI, Line 9

“OTHER CHANGES 550,186”

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IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05314509
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11599940
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05314509
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11599940
IRS990/ProgSrvcAccomActy2Grp/Desc0THE CREDIT UNION PROVIDED A VARIETY OF DEPOSIT SERVICES FOR ITS MEMBERS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0913266
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0933308
IRS990/PYOtherExpensesAmt04359723
IRS990/PYOtherRevenueAmt01093677
IRS990/PYProgramServiceRevenueAmt07140316
IRS990/PYRevenuesLessExpensesAmt0638051
IRS990/PYSalariesCompEmpBnftPaidAmt04169527
IRS990/PYTotalExpensesAmt08529250
IRS990/PYTotalRevenueAmt09167301
IRS990/ReconcilationRevenueExpnssAmt0225076
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt014818223
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt015593485
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011540819
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011229884
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02478559
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01520347
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03998906
IRS990ScheduleD/EquipmentGrp/BookValueAmt0868288
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03483232
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04351520
IRS990ScheduleD/LandGrp/BookValueAmt0744375
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0744375
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07428
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07430
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt054504
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt064013
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0118517
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt060086525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt149840737
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt237309455
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REGULAR DRAFTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ALL OTHER SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SHARE DRAFTS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt036632325
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1296859
IRS990ScheduleD/OtherSecuritiesGrp/Desc0ALL OTHER INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1PERPETUAL CONTRIBUTED CAPITAL
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04145728
IRS990ScheduleD/TotalBookValueSecuritiesAmt036929184
IRS990ScheduleD/TotalLiabilityAmt0147236717
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0163732
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount015100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt039276
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JEFF HOLCOMBE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0218108
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAD NO UNREALTED BUSINESS INCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION IS OWNED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE MANAGER. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER CHANGES 550,186
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0148210970
IRS990/TotalAssetsEOYAmt0179205295
IRS990/TotalAssetsGrp/BOYAmt0148210970
IRS990/TotalAssetsGrp/EOYAmt0179205295
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt065
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08940293
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt08940293
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0130614323
IRS990/TotalLiabilitiesEOYAmt0160833386
IRS990/TotalLiabilitiesGrp/BOYAmt0130614323
IRS990/TotalLiabilitiesGrp/EOYAmt0160833386
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017596647
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018371909
IRS990/TotalOtherCompensationAmt081250
IRS990/TotalProgramServiceExpensesAmt08940293
IRS990/TotalProgramServiceRevenueAmt06914449
IRS990/TotalReportableCompFromOrgAmt0529187
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt09165369
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09165369
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0148210970
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0179205295
IRS990/TravelGrp/ManagementAndGeneralAmt03572
IRS990/TravelGrp/TotalAmt03572
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1957
IRS990/USAddress/CityNm0BRUNSWICK
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd031521
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MARSHLANDCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW GRIFFIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP/CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum09122792000
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARSHLAND CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MARS

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$179,205,295
Liabilities
$160,833,386
Net assets
$18,371,909
Revenue
$9,165,369
Expenses
$8,940,293
Net income
$225,076
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$247$230$17.1$15.0$13.8$1.18
2023Detailed filing. Detailed filing data is available for this year.$223$207$15.8$12.9$11.6$1.35
2022Detailed filing. Detailed filing data is available for this year.$203$189$13.5$10.4$10.0$0.37
2021Detailed filing. Detailed filing data is available for this year.$202$184$18.4$9.64$8.58$1.05
2020Detailed filing. Detailed filing data is available for this year.$179$161$18.4$9.17$8.94$0.23