Civic Intelligence

Greater Eastern Credit Union

990 • Fiscal year 2014 • EIN 62-0731807

Jan 01, 2014 to Dec 31, 2014 • Filed on Apr 21, 2015

2110 Mountcastle DriveJohnson City, TN 37604

(423) 283-4300

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.86x

Higher debt load relative to assets than 22% of similar nonprofits.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

71st percentile

22.14x

Higher debt load relative to revenue than 71% of similar nonprofits.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2014

Net Margin

11th percentile

-1.1%

Higher net margin than 11% of similar nonprofits.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

12th percentile

$90,415

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2014

Asset Growth

20th percentile

-0.4%

Faster asset growth than 20% of similar nonprofits.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

29th percentile

-3.1%

Faster revenue growth than 29% of similar nonprofits.

2014 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$50,244,953

Down $223,882 (-0.4%) from 2013

Net Assets

Down

$7,266,576

Down $20,670 (-0.3%) from 2013

Liabilities

Down

$42,978,377

Down $203,212 (-0.5%) from 2013

Revenue

Down

$1,940,935

Down $61,112 (-3.1%) from 2013

Expenses

Up

$1,961,605

Up $33,890 (+1.8%) from 2013

Net Income

Down

-$20,670

Down $95,002 (-128%) from 2013

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $45,757,075Liabilities 2010: $38,511,210Net Assets 2010: $7,245,8652010Assets 2011: $52,652,226Liabilities 2011: $45,374,990Net Assets 2011: $7,277,2362011Assets 2012: $52,510,429Liabilities 2012: $45,297,514Net Assets 2012: $7,212,9152012Assets 2013: $50,468,835Liabilities 2013: $43,181,589Net Assets 2013: $7,287,2462013Assets 2014: $50,244,953Liabilities 2014: $42,978,377Net Assets 2014: $7,266,5762014Assets 2015: $50,403,879Liabilities 2015: $42,951,410Net Assets 2015: $7,452,4692015Assets 2016: $51,678,942Liabilities 2016: $44,009,154Net Assets 2016: $7,669,7882016Assets 2017: $54,463,798Liabilities 2017: $46,866,740Net Assets 2017: $7,597,0582017Assets 2018: $50,775,920Liabilities 2018: $43,483,701Net Assets 2018: $7,292,2192018Assets 2019: $51,004,259Liabilities 2019: $43,783,067Net Assets 2019: $7,221,1922019Assets 2020: $55,777,044Liabilities 2020: $49,290,448Net Assets 2020: $6,486,5962020Assets 2021: $59,766,875Liabilities 2021: $52,983,632Net Assets 2021: $6,783,2432021Assets 2022: $60,219,676Liabilities 2022: $52,946,304Net Assets 2022: $7,273,3722022Assets 2023: $55,383,589Liabilities 2023: $47,779,536Net Assets 2023: $7,604,0532023Assets 2024: $55,894,296Liabilities 2024: $48,026,995Net Assets 2024: $7,867,3012024

Highlighted filing

2014

Assets$50,244,953
Liabilities$42,978,377
Net Assets$7,266,576

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,865,4822010Expenses 2011: $1,812,5342011Revenue 2012: $1,887,061Expenses 2012: $1,951,382Net Income 2012: -$64,3212012Revenue 2013: $2,002,047Expenses 2013: $1,927,715Net Income 2013: $74,3322013Revenue 2014: $1,940,935Expenses 2014: $1,961,605Net Income 2014: -$20,6702014Revenue 2015: $2,060,101Expenses 2015: $1,874,207Net Income 2015: $185,8942015Revenue 2016: $2,192,717Expenses 2016: $1,975,398Net Income 2016: $217,3192016Revenue 2017: $2,518,458Expenses 2017: $2,591,189Net Income 2017: -$72,7312017Revenue 2018: $2,261,571Expenses 2018: $2,566,410Net Income 2018: -$304,8392018Revenue 2019: $2,738,326Expenses 2019: $2,809,351Net Income 2019: -$71,0252019Revenue 2020: $2,872,334Expenses 2020: $2,816,120Net Income 2020: $56,2142020Revenue 2021: $2,606,749Expenses 2021: $2,310,102Net Income 2021: $296,6472021Revenue 2022: $2,779,243Expenses 2022: $2,289,113Net Income 2022: $490,1302022Revenue 2023: $3,133,252Expenses 2023: $2,632,571Net Income 2023: $500,6812023Revenue 2024: $3,401,896Expenses 2024: $3,138,648Net Income 2024: $263,2482024

Highlighted filing

2014

Revenue$1,940,935
Expenses$1,961,605
Net Income-$20,670
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 21, 2015
Return Version
2014v5.0
Gross Receipts
$1,940,935
Mission and Program Overview

Mission

Credit union - to provide services for approximately 4,020 members in the form of loans, savings, and other financial services.

Credit union - to provide services for approximately 4,477 members in the form of loans, savings, and other financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$25,718,737$25,658,380▼ $60,357
Cash and Non-Interest-Bearing Accounts$6,710,481$7,571,062▲ $860,581
Savings and Temporary Cash Investments$5,053,000$6,157,000▲ $1,104,000
Rtn Earn Endowment Incm Other Fnds$4,223,547$4,202,878▼ $20,669
Land, Buildings, and Equipment, Net$3,721,183$3,605,581▼ $115,602
Prepaid Expenses and Deferred Charges$439,994$3,577,833▲ $3,137,839
Investments Other Securities$8,235,400$3,173,400▼ $5,062,000
Cap Stk Tr Prin Current Funds$3,063,699$3,063,698▼ $1
Total Assets$50,468,835$50,244,953▼ $223,882
Other Assets Total$590,040$501,697▼ $88,343
Liabilities
Other Liabilities$43,127,116$42,880,574▼ $246,542
Accounts Payable and Accrued Expenses$54,473$97,803▲ $43,330
Total Liabilities$43,181,589$42,978,377▼ $203,212
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,287,246$7,266,576▼ $20,670
Total Liabilities and Net Assets / Fund Balance$50,468,835$50,244,953▼ $223,882

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,636,260$726,098$3,362,358
Equipment$368,613$545,878$914,491
Land$600,708-$600,708
Other Securities$335,400--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry AllenCEO/treasureFT$79,759$10,656$90,415

Board Members and Trustees

NameTitle
Phyllis HaulseeBoard Chairp
Lois Gail KykerBoard Member
Lynice BroylesBoard Vice C
Jack BlevinsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,578,372
Investment Income
$169,249
Other Revenue
$193,314
Change in Net Assets
$-20,670
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,142,679
Salaries, Compensation, and Employee Benefits$818,926
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$655,317-$655,317
Office Expenses-$348,240-$348,240
Interest-$199,944-$199,944
Occupancy-$154,923-$154,923
Other Employee Benefits-$101,068-$101,068
Payroll Taxes-$47,904-$47,904
All Other Expenses-$28,373-$28,373
Other Expenses-$21,685-$21,685
Conferences and Meetings-$16,876-$16,876
Pension Plan Contributions-$14,637-$14,637
Total Functional Expenses$0$1,961,605$0$1,961,605
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
All Other Shares$19,983,232
Regular Shares$16,306,980
Share Drafts$6,590,362
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Page 6, Part VI, Line 6

The credit union is owned by the members.

Form 990, Page 6, Part VI, Line 7A

The board of directors is elected by the membership (one member, one vote). All duties, powers, and responsibilities are controlled by the board of directors. The members elect the board of directors at the annual meeting every year.

Form 990, Page 6, Part VI, Line 7B

Some decisions made by the board of directors are affirmed by the members.

Form 990, Page 6, Part VI, Line 11B

The manager reviews the form 990. The form 990 is available for review by the board of directors upon request.

Form 990, Page 6, Part VI, Line 12C

The board of directors monitor and enforce the conflict of interest policy.

Form 990, Page 6, Part VI, Line 15A

Review qualifications, experience, review of compensation survey & local wage scales.

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Greater Eastern Credit Union
EIN
62-0731807
Phone
4232834300
Address
2110 MOUNTCASTLE DRIVE, JOHNSON CITY, TN 37604

Signing Officer

Name
Sherry Allen
Title
CEO
Phone
4232834300
Signed
2015-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry Allen
Voting Board Members
5
Independent Board Members
5
Employees
19
Volunteers
5

Preparer

Firm
Leverage the Lscu Service Corporation
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Keith T Mcmurtrie
Phone
8505581102
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Hours of service related to duties of the board of directors without compensation.

Form 990, Page 5, Part V, Line 3B

The credit union does not have any unrelated business income.

Form 990, Part XI, Line 9

DUE TO ROUNDING 0

Form 990, Part XII

Annual agreed upon procedures are performed by an independent auditor.

Raw XML Appendix347 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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IRS990ScheduleD/OtherSecuritiesGrp/Desc1VCCU-PAID IN CAPITAL
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03605581
IRS990ScheduleD/TotalBookValueSecuritiesAmt03173400
IRS990ScheduleD/TotalLiabilityAmt042880574
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOURS OF SERVICE RELATED TO DUTIES OF THE BOARD OF DIRECTORS WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION DOES NOT HAVE ANY UNRELATED BUSINESS INCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION IS OWNED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE MANAGER REVIEWS THE FORM 990. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD OF DIRECTORS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS MONITOR AND ENFORCE THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7REVIEW QUALIFICATIONS, EXPERIENCE, REVIEW OF COMPENSATION SURVEY & LOCAL WAGE SCALES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9DUE TO ROUNDING 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10ANNUAL AGREED UPON PROCEDURES ARE PERFORMED BY AN INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XII
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt050468835
IRS990/TotalAssetsEOYAmt050244953
IRS990/TotalAssetsGrp/BOYAmt050468835
IRS990/TotalAssetsGrp/EOYAmt050244953
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01961605
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01961605
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043181589
IRS990/TotalLiabilitiesEOYAmt042978377
IRS990/TotalLiabilitiesGrp/BOYAmt043181589
IRS990/TotalLiabilitiesGrp/EOYAmt042978377
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07287246
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07266576
IRS990/TotalOtherCompensationAmt010656
IRS990/TotalProgramServiceExpensesAmt01961605
IRS990/TotalProgramServiceRevenueAmt01578372
IRS990/TotalReportableCompFromOrgAmt079759
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01940935
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01940935
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt050468835
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt050244953
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02110 MOUNTCASTLE DRIVE
IRS990/USAddress/CityNm0JOHNSON CITY
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037604
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.GREATEREASTERN.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERRY ALLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04232834300
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER EASTERN CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0GREA
ReturnHeader/Filer/EIN0620731807
ReturnHeader/Filer/PhoneNum04232834300
ReturnHeader/Filer/USAddress/AddressLine1Txt02110 MOUNTCASTLE DRIVE
ReturnHeader/Filer/USAddress/CityNm0JOHNSON CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037604
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591086132
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LEVERAGE THE LSCU SERVICE CORPORATION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03692 COOLIDGE CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TALLAHASSEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0323117890
ReturnHeader/PreparerPersonGrp/PhoneNum08505581102
ReturnHeader/PreparerPersonGrp/PreparationDt02015-04-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEITH T MCMURTRIE
ReturnHeader/ReturnTs02015-04-24T14:35:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$55.9$48.0$7.87$3.40$3.14$0.26
2023Detailed filing. Detailed filing data is available for this year.$55.4$47.8$7.60$3.13$2.63$0.50
2022Detailed filing. Detailed filing data is available for this year.$60.2$52.9$7.27$2.78$2.29$0.49
2021Detailed filing. Detailed filing data is available for this year.$59.8$53.0$6.78$2.61$2.31$0.30
2020Detailed filing. Detailed filing data is available for this year.$55.8$49.3$6.49$2.87$2.82$0.06
2019Detailed filing. Detailed filing data is available for this year.$51.0$43.8$7.22$2.74$2.81$0.07
2018Detailed filing. Detailed filing data is available for this year.$50.8$43.5$7.29$2.26$2.57$0.30
2017Detailed filing. Detailed filing data is available for this year.$54.5$46.9$7.60$2.52$2.59$0.07
2016Detailed filing. Detailed filing data is available for this year.$51.7$44.0$7.67$2.19$1.98$0.22
2015Detailed filing. Detailed filing data is available for this year.$50.4$43.0$7.45$2.06$1.87$0.19
2014Detailed filing. Detailed filing data is available for this year.$50.2$43.0$7.27$1.94$1.96$0.02
2013Detailed filing. Detailed filing data is available for this year.$50.5$43.2$7.29$2.00$1.93$0.07
2012Summary only. Only limited summary data is available for this year.$52.5$45.3$7.21$1.89$1.95$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.7$45.4$7.28$1.81
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.8$38.5$7.25$1.87