Civic Intelligence

Kimberly Clark Credit Union

EIN 62-0497719 • 501(c)14 • Memphis, TN

View Organization Page

Profile

Credit union - to provide services for approximately 11,311 members in the form of loans, savings, and other financial services.

1520 North Second StreetMemphis, TN 38107

www.kimberlyclarkcu.org

Siviq Scores

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

Liabilities / Assets

7th percentile

0.78x

Higher debt load relative to assets than 7% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

25th percentile

12.76x

Higher debt load relative to revenue than 25% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Net Margin

29th percentile

7.0%

Higher net margin than 29% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$211,188

Higher top officer pay than 40% of similar nonprofits.

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

501(c)14 • $100M-$250M nonprofits • Source year 2025

Asset Growth

32nd percentile

0.9%

Faster asset growth than 32% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

13th percentile

2.8%

Faster revenue growth than 13% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$141,378,690

Up $6,445,571 (+4.8%) from 2023

Liabilities

Up

$110,037,358

Up $6,055,179 (+5.8%) from 2023

Net Assets

Up

$31,341,332

Up $390,392 (+1.3%) from 2023

Operations
Liabilities / Revenue25th percentileNet Margin29th percentile

Revenue

Up

$8,442,222

Up $735,534 (+9.5%) from 2023

Expenses

Up

$8,051,832

Up $1,100,951 (+16%) from 2023

Net Income

Down

$390,390

Down $365,417 (-48%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

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

$150M$100M$50M$0Assets 2010: $94,411,235Liabilities 2010: $75,845,955Net Assets 2010: $18,565,2802010Assets 2011: $97,281,186Liabilities 2011: $77,710,800Net Assets 2011: $19,570,3862011Assets 2012: $101,374,735Liabilities 2012: $80,360,124Net Assets 2012: $21,014,6112012Assets 2013: $103,720,881Liabilities 2013: $81,174,862Net Assets 2013: $22,546,0192013Assets 2014: $105,230,562Liabilities 2014: $81,508,171Net Assets 2014: $23,722,3912014Assets 2015: $106,611,480Liabilities 2015: $82,201,640Net Assets 2015: $24,409,8402015Assets 2016: $109,667,592Liabilities 2016: $84,452,421Net Assets 2016: $25,215,1712016Assets 2017: $109,187,624Liabilities 2017: $82,940,883Net Assets 2017: $26,246,7412017Assets 2018: $112,629,149Liabilities 2018: $85,278,942Net Assets 2018: $27,350,2072018Assets 2019: $114,983,411Liabilities 2019: $86,897,600Net Assets 2019: $28,085,8112019Assets 2020: $124,796,358Liabilities 2020: $96,146,487Net Assets 2020: $28,649,8712020Assets 2021: $129,520,651Liabilities 2021: $100,326,008Net Assets 2021: $29,194,6432021Assets 2022: $132,407,018Liabilities 2022: $102,211,886Net Assets 2022: $30,195,1322022Assets 2023: $134,933,119Liabilities 2023: $103,982,179Net Assets 2023: $30,950,9402023Assets 2024: $141,378,690Liabilities 2024: $110,037,358Net Assets 2024: $31,341,3322024

Highlighted filing

2024

Assets$141,378,690
Liabilities$110,037,358
Net Assets$31,341,332
Open 2024 Filing

Operations Trend

Revenue Growth13th percentile

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

$10M$5.0M$0Expenses 2010: $5,486,7702010Revenue 2011: $6,222,899Expenses 2011: $5,217,792Net Income 2011: $1,005,1072011Expenses 2012: $4,620,6982012Revenue 2013: $5,871,081Expenses 2013: $4,339,673Net Income 2013: $1,531,4082013Revenue 2014: $5,888,879Expenses 2014: $4,712,509Net Income 2014: $1,176,3702014Revenue 2015: $5,544,115Expenses 2015: $4,856,667Net Income 2015: $687,4482015Revenue 2016: $5,777,042Expenses 2016: $4,971,710Net Income 2016: $805,3322016Revenue 2017: $6,072,205Expenses 2017: $5,040,635Net Income 2017: $1,031,5702017Revenue 2018: $6,273,571Expenses 2018: $5,170,106Net Income 2018: $1,103,4652018Revenue 2019: $6,330,119Expenses 2019: $5,594,514Net Income 2019: $735,6052019Revenue 2020: $6,004,605Expenses 2020: $5,440,544Net Income 2020: $564,0612020Revenue 2021: $5,711,936Expenses 2021: $5,167,163Net Income 2021: $544,7732021Revenue 2022: $6,309,687Expenses 2022: $5,309,200Net Income 2022: $1,000,4872022Revenue 2023: $7,706,688Expenses 2023: $6,950,881Net Income 2023: $755,8072023Revenue 2024: $8,442,222Expenses 2024: $8,051,832Net Income 2024: $390,3902024

Highlighted filing

2024

Revenue$8,442,222
Expenses$8,051,832
Net Income$390,390
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$141,378,690
Liabilities
$110,037,358
Net assets
$31,341,332
Revenue
$8,442,222
Expenses
$8,051,832
Net income
$390,390
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$141$110$31.3$8.44$8.05$0.39
2023Detailed filing. Detailed filing data is available for this year.$135$104$31.0$7.71$6.95$0.76
2022Detailed filing. Detailed filing data is available for this year.$132$102$30.2$6.31$5.31$1.00
2021Detailed filing. Detailed filing data is available for this year.$130$100$29.2$5.71$5.17$0.54
2020Detailed filing. Detailed filing data is available for this year.$125$96.1$28.6$6.00$5.44$0.56
2019Detailed filing. Detailed filing data is available for this year.$115$86.9$28.1$6.33$5.59$0.74
2018Detailed filing. Detailed filing data is available for this year.$113$85.3$27.4$6.27$5.17$1.10
2017Detailed filing. Detailed filing data is available for this year.$109$82.9$26.2$6.07$5.04$1.03
2016Detailed filing. Detailed filing data is available for this year.$110$84.5$25.2$5.78$4.97$0.81
2015Detailed filing. Detailed filing data is available for this year.$107$82.2$24.4$5.54$4.86$0.69
2014Detailed filing. Detailed filing data is available for this year.$105$81.5$23.7$5.89$4.71$1.18
2013Detailed filing. Detailed filing data is available for this year.$104$81.2$22.5$5.87$4.34$1.53
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$80.4$21.0$4.62
2011Summary only. Only limited summary data is available for this year.$97.3$77.7$19.6$6.22$5.22$1.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.4$75.8$18.6$5.49
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 8, 2025
Return Version
2024v5.0
Gross Receipts
$8,442,222
Mission and Program Overview

Mission

Credit union - to provide services for approximately 10,619 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$87,065,731$82,094,247▼ $4,971,484
Investments Other Securities$24,886,555$28,813,573▲ $3,927,018
Rtn Earn Endowment Incm Other Fnds$26,405,940$26,796,332▲ $390,392
Cash and Non-Interest-Bearing Accounts$12,405,942$19,361,011▲ $6,955,069
Prepaid Expenses and Deferred Charges$8,996,436$9,556,025▲ $559,589
Cap Stk Tr Prin Current Funds$4,545,000$4,545,000→ $0
Land, Buildings, and Equipment, Net$176,084$138,844▼ $37,240
Total Assets$134,933,119$141,378,690▲ $6,445,571
Other Assets Total$1,402,371$1,414,990▲ $12,619
Liabilities
Other Liabilities$102,743,314$109,008,784▲ $6,265,470
Accounts Payable and Accrued Expenses$1,238,865$1,028,574▼ $210,291
Total Liabilities$103,982,179$110,037,358▲ $6,055,179
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,950,940$31,341,332▲ $390,392
Total Liabilities and Net Assets / Fund Balance$134,933,119$141,378,690▲ $6,445,571

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$48,190$1,233,977$1,282,167
Equipment$20,315$1,028,422$1,048,737
Land$70,339-$70,339
Other Securities$760,283--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joel ForbessPresident/ceFT$169,145$29,688$198,833
Joel ForbessPresident/CEO-$151,000$47,833$198,833

Board Members and Trustees

NameTitle
Warrie WilliamsBoard Chairm
-Board Member
Harold Art FreyBoard Member
Dena WordBoard Secret
Carla RileyBoard Treasu
-Board Vice C
-Associate Di
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$6,055,870
Investment Income
$1,674,760
Other Revenue
$711,592
Change in Net Assets
$390,390

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,442,222
Total Revenue per Audited Statements
$8,442,222
Total Revenue per Form 990
$8,442,222
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,456,075
Salaries, Compensation, and Employee Benefits$2,595,757
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$2,766,935-$2,766,935
Other Salaries and Wages-$1,702,107-$1,702,107
Office Expenses-$702,608-$702,608
Pension Plan Contributions-$400,572-$400,572
Other Employee Benefits-$371,933-$371,933
Occupancy-$199,125-$199,125
Payroll Taxes-$121,145-$121,145
Other Expenses-$98,642-$98,642
All Other Expenses-$93,182-$93,182
Conferences and Meetings-$85,252-$85,252
Total Functional Expenses$0$8,051,832$0$8,051,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,051,832
Total Expenses per Audited Statements$8,051,832
Total Expenses per Form 990$8,051,832
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
All Other Shares$59,733,699
Regular Shares$40,253,321
Share Drafts$9,021,764
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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 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 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 15A

“The board of directors use a comparison of small credit union compensation.”

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

“Only comparability data was used in determining compensation for the president/ceo.”

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
Kimberly Clark Credit Union
EIN
62-0497719
Phone
9015214646
Address
1520 NORTH SECOND STREET, MEMPHIS, TN 38107

Signing Officer

Name
Joel Forbess
Title
President/CEO
Phone
9015214646
Signed
2025-04-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joel Forbess
Formed
1947
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
27
Volunteers
8

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 1, Part I, Line 6

“Hours of service are related to duties of the board of directors without compensation.”

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

“The credit union had no unrelated business income.”

Form 990, Part XI, Line 9

“Due to rounding 2 due to rounding 0 total 2”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Inc 4th qtr 2016 less 4th qtr 2015 0”

Schedule D, Page 4, Part XII, Line 2D

“Exp 4th qtr 2016 less 4th qtr 2015 0”

Raw XML AppendixShowing 400 of 407 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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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0CONTRIBUTION TO THE TENNESSEE CREDIT UNION LEAGUE PAC
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART I-A, LINE 1
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01233977
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt01028422
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01048737
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1760283
IRS990ScheduleD/OtherSecuritiesGrp/Desc0ALL OTHER INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1PAID IN CAPITAL - VCCU
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INC 4TH QTR 2016 LESS 4TH QTR 2015 0
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1EXP 4TH QTR 2016 LESS 4TH QTR 2015 0
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalBookValueSecuritiesAmt028813573
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HAD NO UNRELATED BUSINESS INCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION IS OWNED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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 EVERY YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS REVIEWED BY THE MANAGER. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BOARD OF DIRECTORS USE A COMPARISON OF SMALL CREDIT UNION COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ONLY COMPARABILITY DATA WAS USED IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10DUE TO ROUNDING 2 DUE TO ROUNDING 0 TOTAL 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOEL FORBESS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum09015214646
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KIMBERLY CLARK CREDIT UNION
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202711127
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

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