Civic Intelligence

Life Credit Union

990 • Fiscal year 2013 • EIN 62-0607232

Jan 01, 2013 to Dec 31, 2013 • Filed on May 13, 2014

2010 CHURCH ST Room 20437203-2078

(615) 284-5403

Siviq Scores

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

Liabilities / Assets

56th percentile

0.89x

Higher debt load relative to assets than 56% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Liabilities / Revenue

12th percentile

11.74x

Higher debt load relative to revenue than 12% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Net Margin

70th percentile

12%

Higher net margin than 70% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Top Officer Pay

53rd percentile

$98,180

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2013

Asset Growth

73rd percentile

4.2%

Faster asset growth than 73% of similar nonprofits.

2013 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2012 to 2013

Revenue Growth

35th percentile

-0.7%

Faster revenue growth than 35% of similar nonprofits.

2013 filings • $25M-$50M nonprofits • Annualized from 2011 to 2013

Assets

Up

$29,676,076

Up $1,197,995 (+4.2%) from 2012

Net Assets

Up

$3,342,545

Up $265,542 (+8.6%) from 2012

Liabilities

Up

$26,333,531

Up $932,453 (+3.7%) from 2012

Revenue

$2,242,853

No earlier filing loaded for comparison.

Expenses

Down

$1,977,311

Down $88,627 (-4.3%) from 2012

Net Income

$265,542

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $22,823,148Liabilities 2010: $20,038,663Net Assets 2010: $2,784,4852010Assets 2011: $25,059,165Liabilities 2011: $22,236,135Net Assets 2011: $2,823,0302011Assets 2012: $28,478,081Liabilities 2012: $25,401,078Net Assets 2012: $3,077,0032012Assets 2013: $29,676,076Liabilities 2013: $26,333,531Net Assets 2013: $3,342,5452013Assets 2014: $30,258,122Liabilities 2014: $26,687,439Net Assets 2014: $3,570,6832014Assets 2015: $31,506,230Liabilities 2015: $27,803,547Net Assets 2015: $3,702,6832015Assets 2016: $32,616,361Liabilities 2016: $28,764,507Net Assets 2016: $3,851,8542016Assets 2017: $33,830,548Liabilities 2017: $29,806,380Net Assets 2017: $4,024,1682017Assets 2018: $34,081,458Liabilities 2018: $30,103,185Net Assets 2018: $3,978,2732018Assets 2019: $34,355,140Liabilities 2019: $30,270,259Net Assets 2019: $4,084,8812019Assets 2020: $41,044,841Liabilities 2020: $37,169,338Net Assets 2020: $3,875,5032020

Highlighted filing

2013

Assets$29,676,076
Liabilities$26,333,531
Net Assets$3,342,545

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,921,8732010Revenue 2011: $2,273,633Expenses 2011: $2,205,606Net Income 2011: $68,0272011Expenses 2012: $2,065,9382012Revenue 2013: $2,242,853Expenses 2013: $1,977,311Net Income 2013: $265,5422013Revenue 2014: $2,194,386Expenses 2014: $1,966,220Net Income 2014: $228,1662014Revenue 2015: $2,200,676Expenses 2015: $2,068,704Net Income 2015: $131,9722015Revenue 2016: $2,388,715Expenses 2016: $2,239,544Net Income 2016: $149,1712016Revenue 2017: $2,482,818Expenses 2017: $2,310,504Net Income 2017: $172,3142017Revenue 2018: $2,561,707Expenses 2018: $2,607,602Net Income 2018: -$45,8952018Revenue 2019: $2,552,637Expenses 2019: $2,446,029Net Income 2019: $106,6082019Revenue 2020: $2,184,095Expenses 2020: $2,393,473Net Income 2020: -$209,3782020

Highlighted filing

2013

Revenue$2,242,853
Expenses$1,977,311
Net Income$265,542
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 13, 2014
Return Version
2013v3.1
Gross Receipts
$2,242,853
Mission and Program Overview

Mission

Provide quality, personal service that meets or exceeds member needs. Our goal is to develop and promote competitively-priced financial serivces, and deliver those services in a professional, convenient, efficient and cost effective manner.

Provide financial services

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$20,788,002$21,119,565▲ $331,563
Savings and Temporary Cash Investments$6,423,080$6,917,021▲ $493,941
Rtn Earn Endowment Incm Other Fnds$2,297,003$2,562,545▲ $265,542
Cap Stk Tr Prin Current Funds$780,000$780,000→ $0
Cash and Non-Interest-Bearing Accounts$481,900$687,227▲ $205,327
Receivables From Officers Etc$582,217$607,089▲ $24,872
Land, Buildings, and Equipment, Net$126,091$91,210▼ $34,881
Prepaid Expenses and Deferred Charges$11,396$40,716▲ $29,320
Total Assets$28,478,081$29,676,076▲ $1,197,995
Other Assets Total$65,395$213,248▲ $147,853
Liabilities
Other Liabilities$25,065,039$26,052,612▲ $987,573
Accounts Payable and Accrued Expenses$336,039$280,919▼ $55,120
Total Liabilities$25,401,078$26,333,531▲ $932,453
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,077,003$3,342,545▲ $265,542
Total Liabilities and Net Assets / Fund Balance$28,478,081$29,676,076▲ $1,197,995

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$91,210$296,498-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Pam TenpennyPresident/CEOFT$98,180$98,180
Benita HarpVice PresidentFT$84,462$84,462

Board Members and Trustees

NameTitle
Deborah JonesChairperson
Claude HuguleySupervisory Committee Chairperson
Linda FowlerVice-chairperson
Amber SimsBoard Member
Bubba McIntoshBoard Member
Dan LefflerBoard Member
Fran CofflandBoard Member
Robert FittersBoard Member
Jim DrewSecretary
Alex WhitleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$688,012
Program Service Revenue
$1,467,558
Investment Income
$33,745
Other Revenue
$53,538
Change in Net Assets
$265,542
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,060,004
Salaries, Compensation, and Employee Benefits$917,307
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$526,974
Other Salaries and Wages---$492,179
Current Officers, Directors, Trustees, and Key Employees---$182,642
Interest---$163,896
Other Employee Benefits---$155,159
Fees for Services Accounting---$119,390
Occupancy---$83,332
Payroll Taxes---$55,359
Depreciation Depletion---$47,790
Other Expenses---$37,921
Pension Plan Contributions---$31,968
Travel---$9,988
Fees for Services Legal---$5,000
Conferences and Meetings---$3,285
Total Functional Expenses$0$0$0$1,977,311
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$582,217$607,089▲ $24,872
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$26,052,612
Shares Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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 6-7B

Each individual who opens a share/savings account becomes a member of the credit union. The members vote on the board of directors.

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

The 990 is reviewed by the president/ceo before filing. Any board member can request a copy of the 990.

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

A code of conduct is signed annually

Form 990, Part VI, Section B, Line 15A-B

A software package is utilized that gives comparability data for personnel based on comparable industries and markets. Each officer and/or employee receives an annual review.

Form 990, Part VI, Section C, Line 19

Copies will be provided upon request

Filing and Contact Details

Filer

EIN
62-0607232
Phone
6152845403

Signing Officer

Name
Pam Tenpenny
Title
President
Phone
6152845356
Signed
2014-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pam Tenpenny
Formed
1958
Legal Domicile
Tn
Voting Board Members
4,249
Independent Board Members
4,249
Employees
17
Volunteers
14

Preparer

Preparer
Richard W Betts
Phone
6152978502
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3SIGNATURE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4CERTIFICATE SEC, CREDIT CARD
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt5MORTGAGE, CREDIT CARD
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH INDIVIDUAL WHO OPENS A SHARE/SAVINGS ACCOUNT BECOMES A MEMBER OF THE CREDIT UNION. THE MEMBERS VOTE ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE PRESIDENT/CEO BEFORE FILING. ANY BOARD MEMBER CAN REQUEST A COPY OF THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A CODE OF CONDUCT IS SIGNED ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A SOFTWARE PACKAGE IS UTILIZED THAT GIVES COMPARABILITY DATA FOR PERSONNEL BASED ON COMPARABLE INDUSTRIES AND MARKETS. EACH OFFICER AND/OR EMPLOYEE RECEIVES AN ANNUAL REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES WILL BE PROVIDED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6-7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15A-B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine102010 CHURCH STREET SUITE 204
IRS990/USAddress/City0NASHVILLE

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