Civic Intelligence

Memorial Credit Union

990 • Fiscal year 2013 • EIN 62-0695369

Jan 01, 2013 to Dec 31, 2013 • Filed on Apr 29, 2014

Organization ProfileMEMORIALCREDITUNION.COM

View Organization Page

6800 Longview Road37421

(423) 855-1770

Siviq Scores

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

Liabilities / Assets

36th percentile

0.83x

Higher debt load relative to assets than 36% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

27th percentile

15.26x

Higher debt load relative to revenue than 27% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Net Margin

27th percentile

-6.1%

Higher net margin than 27% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

44th percentile

$49,545

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 12.1% of source-year revenue.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2013

Asset Growth

13th percentile

-5.1%

Faster asset growth than 13% of similar nonprofits.

2013 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets36th percentile

Assets

Down

$7,515,800

Down $402,498 (-5.1%) from 2012

Net Assets

Down

$1,270,544

Down $23,964 (-1.9%) from 2012

Liabilities

Down

$6,245,256

Down $378,534 (-5.7%) from 2012

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin27th percentile

Revenue

$409,296

No earlier filing loaded for comparison.

Expenses

Down

$434,193

Down $33,526 (-7.2%) from 2012

Net Income

-$24,897

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$10M$5.0M$0Assets 2011: $8,062,909Liabilities 2011: $6,669,515Net Assets 2011: $1,393,3942011Assets 2012: $7,918,298Liabilities 2012: $6,623,790Net Assets 2012: $1,294,5082012Assets 2013: $7,515,800Liabilities 2013: $6,245,256Net Assets 2013: $1,270,5442013Assets 2014: $7,610,494Liabilities 2014: $6,331,176Net Assets 2014: $1,279,3182014Assets 2015: $7,806,103Liabilities 2015: $6,514,557Net Assets 2015: $1,291,5462015Assets 2016: $7,474,673Liabilities 2016: $6,182,281Net Assets 2016: $1,292,3922016Assets 2017: $7,713,515Liabilities 2017: $6,416,818Net Assets 2017: $1,296,6972017Assets 2018: $7,335,130Liabilities 2018: $6,011,214Net Assets 2018: $1,323,9162018Assets 2019: $7,458,085Liabilities 2019: $6,129,912Net Assets 2019: $1,328,1732019Assets 2020: $8,121,441Liabilities 2020: $6,876,524Net Assets 2020: $1,244,9172020Assets 2021: $8,766,418Liabilities 2021: $7,637,047Net Assets 2021: $1,129,3712021Assets 2022: $8,214,571Liabilities 2022: $7,146,741Net Assets 2022: $1,067,8302022Assets 2023: $8,051,558Liabilities 2023: $7,039,537Net Assets 2023: $1,012,0212023Assets 2024: $7,016,460Liabilities 2024: $6,033,846Net Assets 2024: $982,6142024

Highlighted filing

2013

Assets$7,515,800
Liabilities$6,245,256
Net Assets$1,270,544
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KExpenses 2011: $513,9222011Expenses 2012: $467,7192012Revenue 2013: $409,296Expenses 2013: $434,193Net Income 2013: -$24,8972013Revenue 2014: $383,134Expenses 2014: $396,163Net Income 2014: -$13,0292014Revenue 2015: $380,267Expenses 2015: $374,888Net Income 2015: $5,3792015Revenue 2016: $384,024Expenses 2016: $381,941Net Income 2016: $2,0832016Revenue 2017: $388,097Expenses 2017: $380,618Net Income 2017: $7,4792017Revenue 2018: $397,921Expenses 2018: $385,211Net Income 2018: $12,7102018Revenue 2019: $407,997Expenses 2019: $384,883Net Income 2019: $23,1142019Revenue 2020: $366,808Expenses 2020: $415,836Net Income 2020: -$49,0282020Revenue 2021: $315,980Expenses 2021: $430,077Net Income 2021: -$114,0972021Revenue 2022: $326,694Expenses 2022: $427,706Net Income 2022: -$101,0122022Revenue 2023: $382,638Expenses 2023: $431,697Net Income 2023: -$49,0592023Revenue 2024: $406,628Expenses 2024: $436,035Net Income 2024: -$29,4072024

Highlighted filing

2013

Revenue$409,296
Expenses$434,193
Net Income-$24,897
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Apr 29, 2014
Return Version
2013v3.0
Gross Receipts
$409,296
Mission and Program Overview

Mission

Provide services for approximately 2500 members in form of loans, term certificates, share draft accounts and savings accounts

Provide services for approximately 2500 members in form of loans, term certificates, share draft accounts and savings accounts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,867,670$3,351,224▼ $516,446
Investments in Publicly Traded Securities$2,640,668$3,100,170▲ $459,502
Rtn Earn Endowment Incm Other Fnds$880,683$856,719▼ $23,964
Cash and Non-Interest-Bearing Accounts$983,780$647,453▼ $336,327
Land, Buildings, and Equipment, Net$426,180$416,953▼ $9,227
Cap Stk Tr Prin Current Funds$413,825$413,825→ $0
Total Assets$7,918,298$7,515,800▼ $402,498
Liabilities
Unsecured Notes Loans Payable$6,459,546$6,212,045▼ $247,501
Accounts Payable and Accrued Expenses$164,244$33,211▼ $131,033
Total Liabilities$6,623,790$6,245,256▼ $378,534
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,294,508$1,270,544▼ $23,964
Total Liabilities and Net Assets / Fund Balance$7,918,298$7,515,800▼ $402,498
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleBaseTotal
Carol UnderwoodCEO$49,545$49,545
Buffy DavisAssistant Manager$41,106$41,106

Board Members and Trustees

NameTitle
Vance L FreemanChairperson
Pamela T RaneySupervisory Chairperson
Gregory BootsVice Chairperson
Benjamin YoungBoard Member
Bernadette GustusBoard Member
H R TwittyBoard Member
David DiercksSecretart
Melanie EllisSupervisory Comm
Shaun PopeSupervisory Committee Member
Terry TaggartTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$104,293
Program Service Revenue
$0
Investment Income
$38,446
Other Revenue
$266,557
Change in Net Assets
$-24,897

Audited Revenue Reconciliation

Revenue per Audited Statements
$409,296
Total Revenue per Audited Statements
$409,296
Total Revenue per Form 990
$409,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$261,899
Other Expenses$172,294
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$257,500-$257,500
Office Expenses-$60,261-$60,261
Information Technology-$47,934-$47,934
Occupancy-$24,008-$24,008
Insurance-$5,400-$5,400
Fees for Services Accounting-$4,399-$4,399
Pension Plan Contributions---$4,399
Other Expenses-$1,927-$1,927
Advertising-$400-$400
Travel-$-584-$-584
Total Functional Expenses$0$429,794$0$434,193

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$434,193
Total Expenses per Audited Statements$434,193
Total Expenses per Form 990$434,193
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

EIN
62-0695369
Phone
4238551770

Signing Officer

Name
Vance Freeman
Title
Chair Person
Phone
4238551770
Signed
2014-04-29

Organization Details

Principal Officer
Carol Underwood
Formed
1960
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
10

Preparer

Preparer
Terry Taggart
Phone
4238991029
Supplemental Narrative

Additional Explanations

Policies - Line11b and Disclosure - Line 19

“All governing documents, policies (including conflict of interest policy) are available to the public. The financial statement is posted and available upon request. Form 990 is available upon request, and is public information”

Raw XML Appendix309 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/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt06459546
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt06212045
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine106800 LONGVIEW ROAD
IRS990/USAddress/City0Chattanooga
IRS990/USAddress/State0TN
IRS990/USAddress/ZIPCode037421
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MEMORIALCREDITUNION.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0VANCE FREEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR PERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum04238551770
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-29
ReturnHeader/Filer/BusinessName/BusinessNameLine10MEMORIAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MEMO
ReturnHeader/Filer/EIN0620695369
ReturnHeader/Filer/PhoneNum04238551770
ReturnHeader/Filer/USAddress/AddressLine106800 LONGVIEW ROAD
ReturnHeader/Filer/USAddress/City0Chattanooga
ReturnHeader/Filer/USAddress/State0TN
ReturnHeader/Filer/USAddress/ZIPCode037421
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10HRB TAX GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine106016 SHALLOWFORD RD STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CHATTANOOGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode037421
ReturnHeader/PreparerPersonGrp/PhoneNum04238991029
ReturnHeader/PreparerPersonGrp/PreparationDt02014-04-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Terry Taggart
ReturnHeader/ReturnTs02014-04-29T14:49:13Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,515,800
Liabilities
$6,245,256
Net assets
$1,270,544
Revenue
$409,296
Expenses
$434,193
Net income
-$24,897
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.02$6.03$0.98$0.41$0.44$0.03
2023Summary only. Only limited summary data is available for this year.$8.05$7.04$1.01$0.38$0.43$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.21$7.15$1.07$0.33$0.43$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.77$7.64$1.13$0.32$0.43$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.12$6.88$1.24$0.37$0.42$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.46$6.13$1.33$0.41$0.38$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.34$6.01$1.32$0.40$0.39$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.71$6.42$1.30$0.39$0.38$0.01
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.47$6.18$1.29$0.38$0.38$0.00
2015Detailed filing. Detailed filing data is available for this year.$7.81$6.51$1.29$0.38$0.37$0.01
2014Summary only. Only limited summary data is available for this year.$7.61$6.33$1.28$0.38$0.40$0.01
2013Detailed filing. Detailed filing data is available for this year.$7.52$6.25$1.27$0.41$0.43$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.92$6.62$1.29$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.06$6.67$1.39$0.51
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)14 • $5M-$10M nonprofits