Civic Intelligence

Life Credit Union

990 • Fiscal year 2016 • EIN 62-0607232

Jan 01, 2016 to Dec 31, 2016 • Filed on May 03, 2017

2010 CHURCH ST Room 204Nashville, TN 37203-2078

(615) 230-5433

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.88x

Higher debt load relative to assets than 52% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

11th percentile

12.04x

Higher debt load relative to revenue than 11% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

41st percentile

6.2%

Higher net margin than 41% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

82nd percentile

$126,045

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Asset Growth

54th percentile

3.5%

Faster asset growth than 54% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

83rd percentile

8.5%

Faster revenue growth than 83% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Flat

$32,616,361

Flat from 2016

Net Assets

Flat

$3,851,854

Flat from 2016

Liabilities

Flat

$28,764,507

Flat from 2016

Revenue

Flat

$2,388,715

Flat from 2016

Expenses

Flat

$2,239,544

Flat from 2016

Net Income

Flat

$149,171

Flat from 2016

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 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

2016

Assets$32,616,361
Liabilities$28,764,507
Net Assets$3,851,854

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 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

2016

Revenue$2,388,715
Expenses$2,239,544
Net Income$149,171
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 3, 2017
Return Version
2016v3.0
Gross Receipts
$2,388,715
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$22,267,058$24,565,161▲ $2,298,103
Savings and Temporary Cash Investments$7,492,547$6,516,262▼ $976,285
Rtn Earn Endowment Incm Other Fnds$2,922,683$3,071,854▲ $149,171
Cap Stk Tr Prin Current Funds$780,000$780,000→ $0
Receivables From Officers Etc$724,131$503,977▼ $220,154
Cash and Non-Interest-Bearing Accounts$272,211$278,960▲ $6,749
Land, Buildings, and Equipment, Net$176,230$123,264▼ $52,966
Prepaid Expenses and Deferred Charges$40,108$62,624▲ $22,516
Total Assets$31,506,230$32,616,361▲ $1,110,131
Other Assets Total$533,945$566,113▲ $32,168
Liabilities
Other Liabilities$27,721,086$28,596,996▲ $875,910
Accounts Payable and Accrued Expenses$82,461$167,511▲ $85,050
Total Liabilities$27,803,547$28,764,507▲ $960,960
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,702,683$3,851,854▲ $149,171
Total Liabilities and Net Assets / Fund Balance$31,506,230$32,616,361▲ $1,110,131

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$123,264$492,540-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Pam TenpennyPresident/CEOFT$126,045$126,045
Benita HarpVice PresidentFT$95,393$95,393

Board Members and Trustees

NameTitle
Bubba McIntoshChair Person
Linda FowlerVice-chairperson
Dan LefflerBoard Member
Dawn GibsonBoard Member
Frances CofflandBoard Member
Justin LawsonBoard Member
Robert FittersBoard Member
Jim DrewSecretary
Alex WhitleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$763,781
Program Service Revenue
$1,514,644
Investment Income
$68,762
Other Revenue
$41,528
Change in Net Assets
$149,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,234,669
Salaries, Compensation, and Employee Benefits$1,004,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$572,756
All Other Expenses---$547,994
Current Officers, Directors, Trustees, and Key Employees---$221,438
Fees for Services Accounting---$180,673
Interest---$139,386
Occupancy---$123,130
Other Employee Benefits---$108,869
Depreciation Depletion---$88,020
Payroll Taxes---$61,370
Other Expenses---$42,666
Pension Plan Contributions---$40,442
Travel---$18,263
Fees for Services Legal---$4,538
Conferences and Meetings---$2,580
Total Functional Expenses$0$0$0$2,239,544
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$724,131$503,977▼ $220,154
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$28,596,996
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

Filer Name
Life Credit Union
EIN
62-0607232
Phone
6152305433
Address
2010 CHURCH ST Room 204, NASHVILLE, TN 37203-2078

Signing Officer

Name
Pam Tenpenny
Title
President
Phone
6152845403
Signed
2017-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pam Tenpenny
Formed
1958
Legal Domicile
Tn
Voting Board Members
4,018
Independent Board Members
4,018
Employees
17
Volunteers
14

Preparer

Firm
Betts & Rubio Pllc
Address
2699 FESSEY CT STE 200, NASHVILLE, TN 37204
Preparer
Richard W Betts
Phone
6152978502
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02922683
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03071854
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07492547
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06516262
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0492540
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SHARES DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0123264
IRS990ScheduleD/TotalLiabilityAmt028596996
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1134614
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt2100107
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0LOC, AUTO, MORTGAGE, FIXED
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1SIGNATURE, AUTO, OTHER SECURED
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2MORTGAGE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4LOC
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1146308
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt2151579
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt324000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt41715
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1DEBORAH DAWN GIBSON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2LESLIE A WHITLEY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3JIM DREW
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4PAMELA TENPENNY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0VICE PRESIDENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1SUPERVISOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2TREASURER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3SECRETARY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4PRESIDENT/CEO
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd3true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd4true
IRS990ScheduleL/TotalBalanceDueAmt0503977
IRS990/ScheduleORequiredInd0true
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/StatesWhereCopyOfReturnIsFldCd0TN
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt031506230
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0763781
IRS990/TotalEmployeeCnt017
IRS990/TotalFunctionalExpensesGrp/TotalAmt02239544
IRS990/TotalGrossUBIAmt041528
IRS990/TotalLiabilitiesBOYAmt027803547
IRS990/TotalLiabilitiesEOYAmt028764507
IRS990/TotalLiabilitiesGrp/BOYAmt027803547
IRS990/TotalLiabilitiesGrp/EOYAmt028764507
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03702683
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03851854
IRS990/TotalProgramServiceRevenueAmt01514644
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01583406
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02388715
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt041528
IRS990/TotalVolunteersCnt014
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt031506230
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt032616361
IRS990/TotReportableCompRltdOrgAmt0221438
IRS990/TravelGrp/TotalAmt018263
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02010 CHURCH STREET SUITE 204
IRS990/USAddress/CityNm0NASHVILLE
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037203
IRS990/VotingMembersGoverningBodyCnt04018
IRS990/VotingMembersIndependentCnt04018
IRS990/WebsiteAddressTxt0www.lifecu.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAM TENPENNY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06152845403
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIFE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0LIFE
ReturnHeader/Filer/EIN0620607232

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