Civic Intelligence

Greater Eastern Credit Union

990 • Fiscal year 2016 • EIN 62-0731807

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 17, 2017

Organization ProfileWWW.GREATEREASTERN.ORG

View Organization Page

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

0.85x

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

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

58th percentile

20.07x

Higher debt load relative to revenue than 58% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Net Margin

55th percentile

9.9%

Higher net margin than 55% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

16th percentile

$99,317

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2016

Asset Growth

35th percentile

2.5%

Faster asset growth than 35% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

64th percentile

6.4%

Faster revenue growth than 64% of similar nonprofits.

2016 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$51,678,942

Up $1,275,063 (+2.5%) from 2015

Net Assets

Up

$7,669,788

Up $217,319 (+2.9%) from 2015

Liabilities

Up

$44,009,154

Up $1,057,744 (+2.5%) from 2015

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin55th percentile

Revenue

Up

$2,192,717

Up $132,616 (+6.4%) from 2015

Expenses

Up

$1,975,398

Up $101,191 (+5.4%) from 2015

Net Income

Up

$217,319

Up $31,425 (+17%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

2016

Assets$51,678,942
Liabilities$44,009,154
Net Assets$7,669,788
Open 2016 Filing

Operations Trend

Revenue Growth64th percentile

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

2016

Revenue$2,192,717
Expenses$1,975,398
Net Income$217,319
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 17, 2017
Return Version
2016v3.0
Gross Receipts
$2,192,717
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 financial services for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$25,783,915$27,632,009▲ $1,848,094
Cash and Non-Interest-Bearing Accounts$8,698,969$7,145,143▼ $1,553,826
Investments Other Securities$6,127,400$6,278,400▲ $151,000
Rtn Earn Endowment Incm Other Fnds$4,388,771$4,606,090▲ $217,319
Prepaid Expenses and Deferred Charges$4,368,957$4,166,838▼ $202,119
Land, Buildings, and Equipment, Net$2,715,301$3,590,080▲ $874,779
Cap Stk Tr Prin Current Funds$3,063,698$3,063,698→ $0
Savings and Temporary Cash Investments$2,193,000$2,349,000▲ $156,000
Total Assets$50,403,879$51,678,942▲ $1,275,063
Other Assets Total$516,337$517,472▲ $1,135
Liabilities
Other Liabilities$42,844,099$43,899,997▲ $1,055,898
Accounts Payable and Accrued Expenses$107,311$109,157▲ $1,846
Total Liabilities$42,951,410$44,009,154▲ $1,057,744
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,452,469$7,669,788▲ $217,319
Total Liabilities and Net Assets / Fund Balance$50,403,879$51,678,942▲ $1,275,063

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,839,850$778,976$3,618,826
Equipment$207,522$623,579$831,101
Land$542,708-$542,708
Other Securities$335,400--
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry AllenCEO/treasureFT$89,023$10,294$99,317

Board Members and Trustees

NameTitle
Phyllis HaulseeChairperson
Lynice BroylesVice Chairpe
Lois Gail KykerBoard Member
Jack BlevinsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,765,567
Investment Income
$139,262
Other Revenue
$287,888
Change in Net Assets
$217,319
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,098,158
Salaries, Compensation, and Employee Benefits$877,240
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$665,749-$665,749
Office Expenses-$310,317-$310,317
Interest-$170,304-$170,304
Occupancy-$155,157-$155,157
Other Employee Benefits-$147,104-$147,104
Payroll Taxes-$48,512-$48,512
Other Expenses-$29,867-$29,867
Conferences and Meetings-$28,211-$28,211
All Other Expenses-$20,774-$20,774
Pension Plan Contributions-$15,875-$15,875
Total Functional Expenses$0$1,975,398$0$1,975,398
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$18,827,347
Regular Shares$18,329,120
Share Drafts$6,743,530
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. Annual evaluation completed by personnel committee.”

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/treasurer
Phone
4232834300
Signed
2017-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sherry Allen
Voting Board Members
5
Independent Board Members
5
Employees
23
Volunteers
5

Preparer

Firm
Leverage the Lscu Service Corporation
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Hiram H Hollifield
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 XII

“Annual agreed upon procedures are performed by an independent auditor.”

Raw XML Appendix349 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/OtherLiabilitiesOrgGrp/Desc0ALL OTHER SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SHARE DRAFTS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05943000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1335400
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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. ANNUAL EVALUATION COMPLETED BY PERSONNEL COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ANNUAL 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 XII
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalOtherCompensationAmt010294
IRS990/TotalProgramServiceExpensesAmt01975398
IRS990/TotalProgramServiceRevenueAmt01765567
IRS990/TotalReportableCompFromOrgAmt089023
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02192717
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02192717
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.GREATEREASTERN.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERRY ALLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04232834300
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER EASTERN CREDIT UNION
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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/PreparationDt02017-03-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HIRAM H HOLLIFIELD
ReturnHeader/ReturnTs02017-03-27T16:21:32+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$51,678,942
Liabilities
$44,009,154
Net assets
$7,669,788
Revenue
$2,192,717
Expenses
$1,975,398
Net income
$217,319
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