Civic Intelligence

Memorial Credit Union

990 • Fiscal year 2016 • EIN 62-0695369

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 25, 2017

Organization ProfileMEMORIALCREDITUNION.COM

View Organization Page

6800 Longview RoadChattanooga, TN 37421

(423) 855-1770

Siviq Scores

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

Liabilities / Assets

35th percentile

0.83x

Higher debt load relative to assets than 35% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

34th percentile

16.10x

Higher debt load relative to revenue than 34% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Net Margin

28th percentile

0.5%

Higher net margin than 28% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

38th percentile

$48,000

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2016

Asset Growth

17th percentile

-4.2%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

44th percentile

1.0%

Faster revenue growth than 44% of similar nonprofits.

2016 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$7,474,673

Down $331,430 (-4.2%) from 2015

Net Assets

Up

$1,292,392

Up $846 (+0.1%) from 2015

Liabilities

Down

$6,182,281

Down $332,276 (-5.1%) from 2015

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin28th percentile

Revenue

Up

$384,024

Up $3,757 (+1.0%) from 2015

Expenses

Up

$381,941

Up $7,053 (+1.9%) from 2015

Net Income

Down

$2,083

Down $3,296 (-61%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2016

Assets$7,474,673
Liabilities$6,182,281
Net Assets$1,292,392
Open 2016 Filing

Operations Trend

Revenue Growth44th percentile

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

2016

Revenue$384,024
Expenses$381,941
Net Income$2,083
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 25, 2017
Return Version
2016v3.0
Gross Receipts
$384,024
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 drafts accounts and savings accounts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,694,461$3,891,640▲ $197,179
Investments in Publicly Traded Securities$2,820,101$2,731,262▼ $88,839
Rtn Earn Endowment Incm Other Fnds$877,721$878,567▲ $846
Cash and Non-Interest-Bearing Accounts$878,963$449,440▼ $429,523
Cap Stk Tr Prin Current Funds$413,825$413,825→ $0
Land, Buildings, and Equipment, Net$412,578$402,331▼ $10,247
Total Assets$7,806,103$7,474,673▼ $331,430
Liabilities
Unsecured Notes Loans Payable$6,489,997$6,159,018▼ $330,979
Accounts Payable and Accrued Expenses$24,560$23,263▼ $1,297
Total Liabilities$6,514,557$6,182,281▼ $332,276
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,291,546$1,292,392▲ $846
Total Liabilities and Net Assets / Fund Balance$7,806,103$7,474,673▼ $331,430
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Carol UnderwoodCEOPT$48,000$48,000
Buffy DavisAssistant ManagerFT$45,921$45,921

Board Members and Trustees

NameTitle
Shaun PopeBoard Member and Supervisory Chair
Terry TaggartChairman
Gregory BootsVice Chairperson
Kathryn DavisBoard Member
Tammy CastelowBoard Member
David DiercksSecretary
Benjamin YoungTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$97,425
Program Service Revenue
$0
Investment Income
$39,759
Other Revenue
$246,840
Change in Net Assets
$2,083
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$217,019
Other Expenses$164,922
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$217,019-$217,019
Information Technology-$53,976-$53,976
Office Expenses-$49,818-$49,818
Occupancy-$23,158-$23,158
Fees for Services Accounting-$5,215-$5,215
Other Expenses-$4,762-$4,762
Advertising-$2,107-$2,107
Travel-$851-$851
Total Functional Expenses$0$381,941$0$381,941
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
Backup withholding compliance
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
No
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

Filer Name
Memorial Credit Union
EIN
62-0695369
Phone
4238551770
Address
6800 LONGVIEW ROAD, Chattanooga, TN 37421

Signing Officer

Name
Carol Underwood
Title
CEO
Phone
4238551770
Signed
2017-04-25

Organization Details

Principal Officer
Carol Underwood
Formed
1960
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
6
Volunteers
10

Preparer

Firm
Hrb Tax Group Inc
Address
6016 SHALLOWFORD RD STE 400, CHATTANOOGA, TN 37421
Preparer
Terry Taggart
Phone
4238991029
Supplemental Narrative

Additional Explanations

Part 2 Part III Line 4A

“Memorial cu conforms to traditional cu philosophy assisting members in making wise financial decisions and stable savings decisions”

Raw XML Appendix315 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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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROL UNDERWOOD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04238551770
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MEMORIAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MEMO
ReturnHeader/Filer/EIN0620695369
ReturnHeader/Filer/PhoneNum04238551770
ReturnHeader/Filer/USAddress/AddressLine1Txt06800 LONGVIEW ROAD
ReturnHeader/Filer/USAddress/CityNm0Chattanooga
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037421
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0461CFB47060908AADAABCEB0A40BC3040A8BCBDE
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0461CFB47060908AADAABCEB0A40BC3040A8BCBDE
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt068.54.183.53
ReturnHeader/FilingSecurityInformation/IPDt02017-04-25
ReturnHeader/FilingSecurityInformation/IPTm011:10:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0431871840
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HRB TAX GROUP INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06016 SHALLOWFORD RD STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHATTANOOGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037421
ReturnHeader/PreparerPersonGrp/PhoneNum04238991029
ReturnHeader/PreparerPersonGrp/PreparationDt02017-04-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Terry Taggart
ReturnHeader/ReturnTs02017-04-25T16:05:45Z
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,474,673
Liabilities
$6,182,281
Net assets
$1,292,392
Revenue
$384,024
Expenses
$381,941
Net income
$2,083
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
2016Detailed filing. Detailed filing data is available for this year.$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