Civic Intelligence

The Wright Credit Union

990 • Fiscal year 2022 • EIN 58-6040949

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 31, 2023

Organization ProfileWWW.THEWRIGHTCU.ORG

View Organization Page

PO Box 238Toccoa, GA 30577

(706) 886-2908

Siviq Scores

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

Liabilities / Assets

36th percentile

0.84x

Higher debt load relative to assets than 36% of similar nonprofits.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

21st percentile

16.06x

Higher debt load relative to revenue than 21% of similar nonprofits.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2022

Net Margin

87th percentile

23%

Higher net margin than 87% of similar nonprofits.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

28th percentile

$58,481

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2022

Asset Growth

66th percentile

1.6%

Faster asset growth than 66% of similar nonprofits.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

96th percentile

27%

Faster revenue growth than 96% of similar nonprofits.

2022 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$16,307,584

Up $259,020 (+1.6%) from 2021

Net Assets

Up

$2,618,923

Up $196,242 (+8.1%) from 2021

Liabilities

Up

$13,688,661

Up $62,778 (+0.5%) from 2021

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin87th percentile

Revenue

Up

$852,328

Up $179,013 (+27%) from 2021

Expenses

Up

$654,841

Up $140,851 (+27%) from 2021

Net Income

Up

$197,487

Up $38,162 (+24%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $12,010,459Liabilities 2010: $10,247,100Net Assets 2010: $1,763,3592010Assets 2011: $12,409,518Liabilities 2011: $10,584,552Net Assets 2011: $1,824,9662011Assets 2012: $12,522,208Liabilities 2012: $10,697,139Net Assets 2012: $1,825,0692012Assets 2013: $11,923,010Liabilities 2013: $10,067,878Net Assets 2013: $1,855,1322013Assets 2014: $11,783,146Liabilities 2014: $9,875,632Net Assets 2014: $1,907,5142014Assets 2015: $12,426,734Liabilities 2015: $10,442,630Net Assets 2015: $1,984,1042015Assets 2016: $12,451,578Liabilities 2016: $10,398,151Net Assets 2016: $2,053,4272016Assets 2017: $12,779,937Liabilities 2017: $10,716,799Net Assets 2017: $2,063,1382017Assets 2018: $12,566,270Liabilities 2018: $10,430,330Net Assets 2018: $2,135,9402018Assets 2020: $14,250,838Liabilities 2020: $11,987,482Net Assets 2020: $2,263,3562020Assets 2021: $16,048,564Liabilities 2021: $13,625,883Net Assets 2021: $2,422,6812021Assets 2022: $16,307,584Liabilities 2022: $13,688,661Net Assets 2022: $2,618,9232022Assets 2023: $16,554,376Liabilities 2023: $13,780,640Net Assets 2023: $2,773,7362023Assets 2024: $16,434,229Liabilities 2024: $13,794,882Net Assets 2024: $2,639,3472024

Highlighted filing

2022

Assets$16,307,584
Liabilities$13,688,661
Net Assets$2,618,923
Open 2022 Filing

Operations Trend

Revenue Growth96th percentile

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

$1.5M$1.0M$500K$0Expenses 2010: $598,3092010Expenses 2011: $496,1712011Expenses 2012: $476,5242012Revenue 2013: $457,699Expenses 2013: $427,634Net Income 2013: $30,0652013Revenue 2014: $446,847Expenses 2014: $394,466Net Income 2014: $52,3812014Revenue 2015: $458,653Expenses 2015: $383,833Net Income 2015: $74,8202015Revenue 2016: $475,639Expenses 2016: $404,194Net Income 2016: $71,4452016Revenue 2017: $445,583Expenses 2017: $435,873Net Income 2017: $9,7102017Revenue 2018: $508,772Expenses 2018: $435,970Net Income 2018: $72,8022018Revenue 2020: $573,970Expenses 2020: $494,128Net Income 2020: $79,8422020Revenue 2021: $673,315Expenses 2021: $513,990Net Income 2021: $159,3252021Revenue 2022: $852,328Expenses 2022: $654,841Net Income 2022: $197,4872022Revenue 2023: $1,100,520Expenses 2023: $745,707Net Income 2023: $354,8132023Revenue 2024: $1,189,308Expenses 2024: $1,164,526Net Income 2024: $24,7822024

Highlighted filing

2022

Revenue$852,328
Expenses$654,841
Net Income$197,487
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 31, 2023
Return Version
2022v4.1
Gross Receipts
$852,328
Mission and Program Overview

Mission

Credit union - to provide for approximately 1,804 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$6,778,689$8,434,716▲ $1,656,027
Savings and Temporary Cash Investments$2,727,000$5,608,000▲ $2,881,000
Rtn Earn Endowment Incm Other Fnds$2,023,823$2,220,065▲ $196,242
Cash and Non-Interest-Bearing Accounts$3,428,700$1,670,734▼ $1,757,966
Cap Stk Tr Prin Current Funds$398,858$398,858→ $0
Land, Buildings, and Equipment, Net$163,964$303,315▲ $139,351
Prepaid Expenses and Deferred Charges$70,220$86,888▲ $16,668
Investments Other Securities$2,736,213$7,202▼ $2,729,011
Total Assets$16,048,564$16,307,584▲ $259,020
Other Assets Total$143,778$196,729▲ $52,951
Liabilities
Other Liabilities$13,510,962$13,616,655▲ $105,693
Accounts Payable and Accrued Expenses$114,921$72,006▼ $42,915
Total Liabilities$13,625,883$13,688,661▲ $62,778
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,422,681$2,618,923▲ $196,242
Total Liabilities and Net Assets / Fund Balance$16,048,564$16,307,584▲ $259,020

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$222,441$148,987$371,428
Land$55,000-$55,000
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Alaina LacountManager/treaFT$58,481$58,481

Board Members and Trustees

NameTitle
Tyler TaylorAudit Chair
Mark RichardsonPresident
Josh AddisonDirector
Larry WieseDirector
Lindy GraftonSecretary
Sheila PressleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$706,946
Investment Income
$63,024
Other Revenue
$82,358
Change in Net Assets
$197,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$368,826
Salaries, Compensation, and Employee Benefits$286,015
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$244,311-$244,311
Office Expenses-$96,466-$96,466
Occupancy-$35,163-$35,163
Interest-$24,841-$24,841
Other Employee Benefits-$21,832-$21,832
Other Expenses-$20,419-$20,419
Payroll Taxes-$19,872-$19,872
All Other Expenses-$16,009-$16,009
Travel-$4,753-$4,753
Total Functional Expenses$0$654,841$0$654,841
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 Shares$7,482,143
All Other Shares$4,354,869
Share Drafts$1,779,643
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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 memebrs elect the board of directors at the annual meeting every 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
The Wright Credit Union
EIN
58-6040949
Phone
7068862908
Address
PO BOX 238, TOCCOA, GA 30577

Signing Officer

Name
Alaina Lacount
Title
Manager/treasurer
Phone
7068862908
Signed
2023-03-31

Organization Details

Principal Officer
Alaina Lacount
Formed
1963
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
4
Employees
9
Volunteers
7

Preparer

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

Additional Explanations

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

“The credit union had no unrelated business income.”

Form 990, Part XI, Line 9

“OTHER CHANGES -1,245”

Raw XML Appendix350 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ALL OTHER SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SHARE DRAFTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0277441
IRS990ScheduleD/TotalLiabilityAmt013616655
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HAD NO UNRELATED 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 MEMEBRS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY 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 -1,245
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/TotalAssetsBOYAmt016048564
IRS990/TotalAssetsEOYAmt016307584
IRS990/TotalAssetsGrp/BOYAmt016048564
IRS990/TotalAssetsGrp/EOYAmt016307584
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0654841
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0654841
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013625883
IRS990/TotalLiabilitiesEOYAmt013688661
IRS990/TotalLiabilitiesGrp/BOYAmt013625883
IRS990/TotalLiabilitiesGrp/EOYAmt013688661
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02422681
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02618923
IRS990/TotalProgramServiceExpensesAmt0654841
IRS990/TotalProgramServiceRevenueAmt0706946
IRS990/TotalReportableCompFromOrgAmt058481
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0852328
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0852328
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016048564
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016307584
IRS990/TravelGrp/ManagementAndGeneralAmt04753
IRS990/TravelGrp/TotalAmt04753
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 238
IRS990/USAddress/CityNm0TOCCOA
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030577
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.THEWRIGHTCU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAINA LACOUNT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07068862908
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE WRIGHT CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0WRIG
ReturnHeader/Filer/EIN0586040949
ReturnHeader/Filer/PhoneNum07068862908
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 238
ReturnHeader/Filer/USAddress/CityNm0TOCCOA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030577
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CU AUDIT & COMPLIANCE GROUP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03692 COOLIDGE CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TALLAHASSEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0323117890
ReturnHeader/PreparerPersonGrp/PhoneNum02054372176
ReturnHeader/PreparerPersonGrp/PreparationDt02023-03-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA ONKST
ReturnHeader/ReturnTs02023-03-13T11:16:09-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALAINA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LACOUNT
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$16,307,584
Liabilities
$13,688,661
Net assets
$2,618,923
Revenue
$852,328
Expenses
$654,841
Net income
$197,487
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.4$13.8$2.64$1.19$1.16$0.02
2023Detailed filing. Detailed filing data is available for this year.$16.6$13.8$2.77$1.10$0.75$0.35
2022Detailed filing. Detailed filing data is available for this year.$16.3$13.7$2.62$0.85$0.65$0.20
2021Detailed filing. Detailed filing data is available for this year.$16.0$13.6$2.42$0.67$0.51$0.16
2020Detailed filing. Detailed filing data is available for this year.$14.3$12.0$2.26$0.57$0.49$0.08
2018Summary only. Only limited summary data is available for this year.$12.6$10.4$2.14$0.51$0.44$0.07
2017Summary only. Only limited summary data is available for this year.$12.8$10.7$2.06$0.45$0.44$0.01
2016Summary only. Only limited summary data is available for this year.$12.5$10.4$2.05$0.48$0.40$0.07
2015Detailed filing. Detailed filing data is available for this year.$12.4$10.4$1.98$0.46$0.38$0.07
2014Detailed filing. Detailed filing data is available for this year.$11.8$9.88$1.91$0.45$0.39$0.05
2013Detailed filing. Detailed filing data is available for this year.$11.9$10.1$1.86$0.46$0.43$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$10.7$1.83$0.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$10.6$1.82$0.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$10.2$1.76$0.60