Civic Intelligence

Brown Forman Employees Credit Union

EIN 61-0531597 • 501(c)14 • Louisville, KY

Profile

Provide loans and savings to members

850 Dixie HighwayLouisville, KY 40210-1038

www.bfecu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

29th percentile

0.82x

Higher debt load relative to assets than 29% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

22nd percentile

11.32x

Higher debt load relative to revenue than 22% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Net Margin

84th percentile

23%

Higher net margin than 84% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

11th percentile

$0

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Asset Growth

55th percentile

0.6%

Faster asset growth than 55% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

13%

Faster revenue growth than 73% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$14,520,855

Up $82,027 (+0.6%) from 2023

Liabilities

Down

$11,848,812

Down $158,148 (-1.3%) from 2023

Net Assets

Up

$2,672,043

Up $240,175 (+9.9%) from 2023

Operations
Liabilities / Revenue22nd percentileNet Margin84th percentile

Revenue

Up

$1,047,064

Up $123,921 (+13%) from 2023

Expenses

Up

$806,889

Up $130,055 (+19%) from 2023

Net Income

Down

$240,175

Down $6,134 (-2.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth55th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $9,575,898Liabilities 2010: $8,430,096Net Assets 2010: $1,145,8022010Assets 2011: $9,989,038Liabilities 2011: $8,823,573Net Assets 2011: $1,165,4652011Assets 2012: $11,042,788Liabilities 2012: $9,833,437Net Assets 2012: $1,209,3512012Assets 2013: $11,496,468Liabilities 2013: $10,219,484Net Assets 2013: $1,276,9842013Assets 2014: $11,644,743Liabilities 2014: $10,302,581Net Assets 2014: $1,342,1622014Assets 2015: $11,741,855Liabilities 2015: $10,357,219Net Assets 2015: $1,384,6362015Assets 2016: $11,710,557Liabilities 2016: $10,264,117Net Assets 2016: $1,446,4402016Assets 2017: $12,274,419Liabilities 2017: $10,785,222Net Assets 2017: $1,489,1972017Assets 2018: $11,792,699Liabilities 2018: $10,273,830Net Assets 2018: $1,518,8692018Assets 2019: $11,634,577Liabilities 2019: $9,908,639Net Assets 2019: $1,725,9382019Assets 2020: $13,001,245Liabilities 2020: $11,062,116Net Assets 2020: $1,939,1292020Assets 2021: $14,561,249Liabilities 2021: $12,441,092Net Assets 2021: $2,120,1572021Assets 2022: $13,949,962Liabilities 2022: $11,764,403Net Assets 2022: $2,185,5592022Assets 2023: $14,438,828Liabilities 2023: $12,006,960Net Assets 2023: $2,431,8682023Assets 2024: $14,520,855Liabilities 2024: $11,848,812Net Assets 2024: $2,672,0432024

Highlighted filing

2024

Assets$14,520,855
Liabilities$11,848,812
Net Assets$2,672,043
Open 2024 Filing

Operations Trend

Revenue Growth73rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Expenses 2010: $473,2032010Expenses 2011: $431,6992011Expenses 2012: $428,8612012Revenue 2013: $513,375Expenses 2013: $445,742Net Income 2013: $67,6332013Revenue 2014: $539,987Expenses 2014: $474,809Net Income 2014: $65,1782014Revenue 2015: $563,013Expenses 2015: $520,539Net Income 2015: $42,4742015Revenue 2016: $582,501Expenses 2016: $520,697Net Income 2016: $61,8042016Revenue 2017: $584,749Expenses 2017: $541,992Net Income 2017: $42,7572017Revenue 2018: $628,361Expenses 2018: $598,527Net Income 2018: $29,8342018Revenue 2019: $687,454Expenses 2019: $480,385Net Income 2019: $207,0692019Revenue 2020: $652,874Expenses 2020: $439,683Net Income 2020: $213,1912020Revenue 2021: $633,799Expenses 2021: $452,771Net Income 2021: $181,0282021Revenue 2022: $702,016Expenses 2022: $522,079Net Income 2022: $179,9372022Revenue 2023: $923,143Expenses 2023: $676,834Net Income 2023: $246,3092023Revenue 2024: $1,047,064Expenses 2024: $806,889Net Income 2024: $240,1752024

Highlighted filing

2024

Revenue$1,047,064
Expenses$806,889
Net Income$240,175
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,520,855
Liabilities
$11,848,812
Net assets
$2,672,043
Revenue
$1,047,064
Expenses
$806,889
Net income
$240,175
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.5$11.8$2.67$1.05$0.81$0.24
2023Detailed filing. Detailed filing data is available for this year.$14.4$12.0$2.43$0.92$0.68$0.25
2022Detailed filing. Detailed filing data is available for this year.$13.9$11.8$2.19$0.70$0.52$0.18
2021Detailed filing. Detailed filing data is available for this year.$14.6$12.4$2.12$0.63$0.45$0.18
2020Detailed filing. Detailed filing data is available for this year.$13.0$11.1$1.94$0.65$0.44$0.21
2019Detailed filing. Detailed filing data is available for this year.$11.6$9.91$1.73$0.69$0.48$0.21
2018Detailed filing. Detailed filing data is available for this year.$11.8$10.3$1.52$0.63$0.60$0.03
2017Detailed filing. Detailed filing data is available for this year.$12.3$10.8$1.49$0.58$0.54$0.04
2016Detailed filing. Detailed filing data is available for this year.$11.7$10.3$1.45$0.58$0.52$0.06
2015Detailed filing. Detailed filing data is available for this year.$11.7$10.4$1.38$0.56$0.52$0.04
2014Detailed filing. Detailed filing data is available for this year.$11.6$10.3$1.34$0.54$0.47$0.07
2013Detailed filing. Detailed filing data is available for this year.$11.5$10.2$1.28$0.51$0.45$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$9.83$1.21$0.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.99$8.82$1.17$0.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.58$8.43$1.15$0.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 10, 2025
Return Version
2024v5.0
Gross Receipts
$1,047,064
Mission and Program Overview

Mission

Provide loans and savings to members

Provide loans & savings to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$10,299,307$9,920,409▼ $378,898
Savings and Temporary Cash Investments$3,923,093$4,427,400▲ $504,307
Rtn Earn Endowment Incm Other Fnds$2,118,429$2,358,604▲ $240,175
Pd in Cap Srpls Land Bldg Eqp Fund$313,439$313,439→ $0
Cash and Non-Interest-Bearing Accounts$102,535$62,199▼ $40,336
Prepaid Expenses and Deferred Charges$4,621$3,086▼ $1,535
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$14,438,828$14,520,855▲ $82,027
Other Assets Total$109,272$107,761▼ $1,511
Liabilities
Other Liabilities$11,861,899$11,694,126▼ $167,773
Accounts Payable and Accrued Expenses$145,061$154,686▲ $9,625
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,006,960$11,848,812▼ $158,148
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,431,868$2,672,043▲ $240,175
Total Liabilities and Net Assets / Fund Balance$14,438,828$14,520,855▲ $82,027
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
Joe HopkinsBoard Chairman
Erin WalterBoard President/CEO
Xin GuBoard Vice Chair
Brian AlbaneseBoard Member
Jason BibelhauserBoard Member
Joe WatkinsBoard Member
Mike MulrooneyBoard Member
Shane BurkeBoard Member
Tiffany CalvertBoard Member
Jennifer McClintonBoard Secretary
Ana McVeyStaff
Melissa FinleyStaff
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$866,284
Investment Income
$180,780
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$240,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$537,007
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$269,882
Fees for Services Management---$227,403
Office Expenses---$99,010
All Other Expenses---$16,537
Advertising---$10,764
Fees for Services Legal---$10,330
Payments to Affiliates---$6,562
Conferences and Meetings---$5,224
Information Technology---$1,206
Other Expenses---$-194
Total Functional Expenses$0$0$0$806,889
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Share certificates$5,056,247
Regular shares$4,731,551
Money market accounts$1,129,380
Share drafts$776,948
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Brown-Forman Employees Credit Union has approximately 1,388 members at year end 2024.”

Form 990, Part VI, Section A, Line 7A

“Yes, all members have voting rights.”

Form 990, Part VI, Section B, Line 11B

“Tax form 990 is made available to all board members. No members conducted a review.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is reviewed by each employee and board member annually.”

Form 990, Part VI, Section B, Line 15

“There are three paid positions within the Credit Union, the Manager and two Member Service Rep/Loan Officers. All of these positions, upon hiring were compared locally and nationally based on the position and duties to calculate an appropriate salary range. After hiring each employee undergoes annual review in April which assesses the employees performance of duties and completion of goals. Once the review is complete, they are graded on a 5 point scale and then that grading determines any pay raise or corrective action warranted.”

Form 990, Part VI, Section C, Line 19

“As a State Chartered Credit Union, our governance policies and financial statements are available to the public on the NCUA website.”

Filing and Contact Details

Filer

Filer Name
Brown Forman Employees Credit Union
EIN
61-0531597
Phone
5027747003
Address
850 Dixie Highway, Louisville, KY 40210-1038

Signing Officer

Name
Erin L Walter
Title
Manager/President
Phone
5027747636
Signed
2025-04-10

Organization Details

Principal Officer
Erin Walter
Formed
1936
Legal Domicile
Ky
Voting Board Members
1,388
Independent Board Members
1,388
Employees
0
Volunteers
12
Raw XML AppendixShowing 400 of 488 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/BooksInCareOfDetail/PhoneNum05027747636
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0850 Dixie Highway
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IRS990/Form990PartVIISectionAGrp/PersonNm8Mike Mulrooney
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Board Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board President/CEO
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
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IRS990/GrantsToOrganizationsInd00
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt00
IRS990/GrossReceiptsAmt01047064
IRS990/GrossRentsGrp/PersonalAmt00
IRS990/GrossRentsGrp/RealAmt00
IRS990/GrossSalesOfInventoryAmt00
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt01206
IRS990/InsuranceGrp/TotalAmt00
IRS990/IntangibleAssetsGrp/BOYAmt00
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0180780
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0180780
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
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IRS990/LandBldgEquipCostOrOtherBssAmt00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt02672043
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt099010
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
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IRS990/OtherAssetsTotalGrp/EOYAmt0107761
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IRS990/OtherExpensesGrp/Desc2Postage & Money Orders
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IRS990/OtherExpensesGrp/TotalAmt1100068
IRS990/OtherExpensesGrp/TotalAmt2-194
IRS990/OtherLiabilitiesGrp/BOYAmt011861899
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt09920409
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/TotalAmt06562
IRS990/PayrollTaxesGrp/TotalAmt00
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0313439
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03086
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IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt0246309
IRS990/PYSalariesCompEmpBnftPaidAmt00
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IRS990/PYTotalRevenueAmt0923143
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02358604
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03923093
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1776948
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21129380
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt35056247
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Money market accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Share certificates
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Brown-Forman Employees Credit Union has approximately 1,388 members at year end 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Yes, all members have voting rights.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Tax form 990 is made available to all board members. No members conducted a review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The conflict of interest policy is reviewed by each employee and board member annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4There are three paid positions within the Credit Union, the Manager and two Member Service Rep/Loan Officers. All of these positions, upon hiring were compared locally and nationally based on the position and duties to calculate an appropriate salary range. After hiring each employee undergoes annual review in April which assesses the employees performance of duties and completion of goals. Once the review is complete, they are graded on a 5 point scale and then that grading determines any pay raise or corrective action warranted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5As a State Chartered Credit Union, our governance policies and financial statements are available to the public on the NCUA website.

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