Civic Intelligence

New South Credit Union

EIN 62-0548824 • 501(c)14 • Knoxville, TN

Profile

Credit Union - to provide financial services to members.

3261 N Mall RoadKnoxville, TN 37924

newsouthcu.com

Siviq Scores

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

Liabilities / Assets

26th percentile

0.85x

Higher debt load relative to assets than 26% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

19.61x

Higher debt load relative to revenue than 72% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2023

Net Margin

65th percentile

16%

Higher net margin than 65% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

14th percentile

-3.9%

Faster asset growth than 14% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

27%

Faster revenue growth than 87% of similar nonprofits.

501(c)14 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Up

$78,524,078

Up $3,692,330 (+4.9%) from 2023

Liabilities

Up

$66,833,868

Up $2,929,247 (+4.6%) from 2023

Net Assets

Up

$11,690,210

Up $763,083 (+7.0%) from 2023

Revenue

Up

$4,019,005

Up $760,029 (+23%) from 2023

Expenses

Up

$3,255,922

Up $527,533 (+19%) from 2023

Net Income

Up

$763,083

Up $232,496 (+44%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $34,685,226Liabilities 2010: $28,763,515Net Assets 2010: $5,921,7112010Assets 2011: $36,022,240Liabilities 2011: $29,855,952Net Assets 2011: $6,166,2882011Assets 2012: $38,796,373Liabilities 2012: $32,239,390Net Assets 2012: $6,556,9832012Assets 2013: $40,699,086Liabilities 2013: $33,876,617Net Assets 2013: $6,822,4692013Assets 2014: $41,774,263Liabilities 2014: $34,697,752Net Assets 2014: $7,076,5112014Assets 2015: $43,897,794Liabilities 2015: $36,577,967Net Assets 2015: $7,319,8272015Assets 2016: $47,641,207Liabilities 2016: $40,071,247Net Assets 2016: $7,569,9602016Assets 2017: $55,039,427Liabilities 2017: $46,184,709Net Assets 2017: $8,854,7182017Assets 2018: $56,493,354Liabilities 2018: $47,273,401Net Assets 2018: $9,219,9532018Assets 2019: $58,258,561Liabilities 2019: $48,639,551Net Assets 2019: $9,619,0102019Assets 2020: $68,008,108Liabilities 2020: $57,981,203Net Assets 2020: $10,026,9052020Assets 2021: $77,312,215Liabilities 2021: $66,909,718Net Assets 2021: $10,402,4972021Assets 2022: $77,847,074Liabilities 2022: $67,060,014Net Assets 2022: $10,787,0602022Assets 2023: $74,831,748Liabilities 2023: $63,904,621Net Assets 2023: $10,927,1272023Assets 2024: $78,524,078Liabilities 2024: $66,833,868Net Assets 2024: $11,690,2102024

Highlighted filing

2024

Assets$78,524,078
Liabilities$66,833,868
Net Assets$11,690,210

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2010: $1,726,9052010Expenses 2011: $1,663,7042011Expenses 2012: $1,534,0382012Revenue 2013: $1,705,188Expenses 2013: $1,439,702Net Income 2013: $265,4862013Revenue 2014: $1,755,006Expenses 2014: $1,500,964Net Income 2014: $254,0422014Revenue 2015: $1,787,688Expenses 2015: $1,544,372Net Income 2015: $243,3162015Revenue 2016: $1,893,944Expenses 2016: $1,643,811Net Income 2016: $250,1332016Revenue 2017: $2,120,396Expenses 2017: $1,856,594Net Income 2017: $263,8022017Revenue 2018: $2,318,946Expenses 2018: $1,953,711Net Income 2018: $365,2352018Revenue 2019: $2,555,050Expenses 2019: $2,155,993Net Income 2019: $399,0572019Revenue 2020: $2,664,571Expenses 2020: $2,256,676Net Income 2020: $407,8952020Revenue 2021: $2,563,932Expenses 2021: $2,188,340Net Income 2021: $375,5922021Revenue 2022: $2,559,639Expenses 2022: $2,175,076Net Income 2022: $384,5632022Revenue 2023: $3,258,976Expenses 2023: $2,728,389Net Income 2023: $530,5872023Revenue 2024: $4,019,005Expenses 2024: $3,255,922Net Income 2024: $763,0832024

Highlighted filing

2024

Revenue$4,019,005
Expenses$3,255,922
Net Income$763,083

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$78.5$66.8$11.7$4.02$3.26$0.76
2023Detailed filing. Detailed filing data is available for this year.$74.8$63.9$10.9$3.26$2.73$0.53
2022Detailed filing. Detailed filing data is available for this year.$77.8$67.1$10.8$2.56$2.18$0.38
2021Detailed filing. Detailed filing data is available for this year.$77.3$66.9$10.4$2.56$2.19$0.38
2020Detailed filing. Detailed filing data is available for this year.$68.0$58.0$10.0$2.66$2.26$0.41
2019Detailed filing. Detailed filing data is available for this year.$58.3$48.6$9.62$2.56$2.16$0.40
2018Detailed filing. Detailed filing data is available for this year.$56.5$47.3$9.22$2.32$1.95$0.37
2017Detailed filing. Detailed filing data is available for this year.$55.0$46.2$8.85$2.12$1.86$0.26
2016Detailed filing. Detailed filing data is available for this year.$47.6$40.1$7.57$1.89$1.64$0.25
2015Detailed filing. Detailed filing data is available for this year.$43.9$36.6$7.32$1.79$1.54$0.24
2014Detailed filing. Detailed filing data is available for this year.$41.8$34.7$7.08$1.76$1.50$0.25
2013Detailed filing. Detailed filing data is available for this year.$40.7$33.9$6.82$1.71$1.44$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.8$32.2$6.56$1.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.0$29.9$6.17$1.66
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.7$28.8$5.92$1.73
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 13, 2025
Return Version
2024v5.0
Gross Receipts
$4,019,005
Mission and Program Overview

Mission

Credit Union - to provide financial services to members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$35,494,054$36,003,150▲ $509,096
Investments Other Securities$17,413,759$19,408,672▲ $1,994,913
Savings and Temporary Cash Investments$12,734,000$13,995,000▲ $1,261,000
Rtn Earn Endowment Incm Other Fnds$8,896,848$9,659,931▲ $763,083
Cash and Non-Interest-Bearing Accounts$5,319,364$5,192,649▼ $126,715
Land, Buildings, and Equipment, Net$2,979,375$2,957,419▼ $21,956
Cap Stk Tr Prin Current Funds$2,030,279$2,030,279→ $0
Prepaid Expenses and Deferred Charges$70,209$100,293▲ $30,084
Other Notes and Loans Receivable, Net$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 Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$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$74,831,748$78,524,078▲ $3,692,330
Other Assets Total$820,987$866,895▲ $45,908
Liabilities
Other Liabilities$63,373,873$66,322,033▲ $2,948,160
Accounts Payable and Accrued Expenses$530,748$511,835▼ $18,913
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$63,904,621$66,833,868▲ $2,929,247
Net Assets / Fund Balance
Total Net Assets Fund Balance$10,927,127$11,690,210▲ $763,083
Total Liabilities and Net Assets / Fund Balance$74,831,748$78,524,078▲ $3,692,330

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,664,566$539,783$0
Other Land Buildings$0$0$0
Land$1,207,918-$0
Equipment$84,935$850,749$0
Leasehold Improvements$0$0$0
Other Assets Org$0--
Other Securities$66,845--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mack MullChairperson
James TrouttVice Chairperson
Jeff CollinsBoard Member
Joyce GrubbBoard Member
Sandra HolbertBoard Member
Barbara WilliamsSecretary
April TaylorSupervisory Committee
Jordan CampbellSupervisory Committee
M Adam LeeSupervisory Committee
Thomas BentleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,243,268
Investment Income
$1,212,249
Other Revenue
$563,488
Change in Net Assets
$763,083

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,019,005
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$4,019,005
Total Revenue per Form 990
$4,019,005
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,942,161
Salaries, Compensation, and Employee Benefits$1,313,761
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$0$1,138,911$0$1,138,911
Interest$0$690,719$0$690,719
Office Expenses$0$333,775$0$333,775
Other Employee Benefits$0$147,713$0$147,713
Occupancy$0$147,644$0$147,644
Other Expenses$0$141,909$0$141,909
All Other Expenses$0$52,413$0$52,413
Pension Plan Contributions$0$27,137$0$27,137
Conferences and Meetings$0$6,960$0$6,960
Total Functional Expenses$0$3,255,922$0$3,255,922

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,255,922
Total Expenses per Audited Statements$3,255,922
Total Expenses per Form 990$3,255,922
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Total Shares$66,322,033
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
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, Part VI, Section A, Line 6

The organization is a credit union owned by its members.

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

A credit union is owned by its members and therefore the board is elected by the members.

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

Annual meetings are held that are open to the entire credit union's membership, this is also when members have the opportunity to vote on the approval of any nominated board members.

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

The Form 990 is prepared internally by the credit union's accounting staff and is reviewed by the CEO before submission - it is not provided to the members prior to filing the return.

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

The credit union has procedures in place to monitor and enforce the conflict of interest policy thru individual restrictions, dual control, and auditing.

Form 990, Part VI, Section B, Line 15

The compensation of the CEO is board approved as is the % of raise issued to all other positions held within the credit union.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
New South Credit Union
EIN
62-0548824
Phone
8655230757
Address
3261 N Mall Road, Knoxville, TN 37924

Signing Officer

Name
Richard Schulz
Title
President/CEO
Phone
8655230757
Signed
2025-05-13

Organization Details

Principal Officer
Richard C Schulz
Formed
1952
Legal Domicile
Tn
Voting Board Members
0
Independent Board Members
0
Employees
22
Volunteers
10
Raw XML AppendixShowing 400 of 632 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/Form990PartVIISectionAGrp/PersonNm7Jordan Campbell
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
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IRS990/PrincipalOfficerNm0Richard C Schulz
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