Civic Intelligence

Greater Eastern Credit Union

990 • Fiscal year 2017 • EIN 62-0731807

Jan 01, 2017 to Dec 31, 2017 • Filed on May 10, 2018

P O Box 5130Johnson City, TN 37602

(423) 283-4300

Siviq Scores

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

Liabilities / Assets

28th percentile

0.86x

Higher debt load relative to assets than 28% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

47th percentile

18.61x

Higher debt load relative to revenue than 47% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

11th percentile

-2.9%

Higher net margin than 11% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$107,854

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

75th percentile

5.4%

Faster asset growth than 75% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

88th percentile

15%

Faster revenue growth than 88% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$54,463,798

Up $2,784,856 (+5.4%) from 2016

Net Assets

Down

$7,597,058

Down $72,730 (-0.9%) from 2016

Liabilities

Up

$46,866,740

Up $2,857,586 (+6.5%) from 2016

Revenue

Up

$2,518,458

Up $325,741 (+15%) from 2016

Expenses

Up

$2,591,189

Up $615,791 (+31%) from 2016

Net Income

Down

-$72,731

Down $290,050 (-133%) from 2016

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

2017

Assets$54,463,798
Liabilities$46,866,740
Net Assets$7,597,058

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

2017

Revenue$2,518,458
Expenses$2,591,189
Net Income-$72,731
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 10, 2018
Return Version
2017v2.3
Gross Receipts
$2,518,458
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$27,632,009$30,394,730▲ $2,762,721
Cash and Non-Interest-Bearing Accounts$7,145,143$7,384,573▲ $239,430
Investments Other Securities$6,278,400$6,328,400▲ $50,000
Rtn Earn Endowment Incm Other Fnds$4,606,090$4,533,360▼ $72,730
Prepaid Expenses and Deferred Charges$4,166,838$4,437,234▲ $270,396
Land, Buildings, and Equipment, Net$3,590,080$3,614,718▲ $24,638
Cap Stk Tr Prin Current Funds$3,063,698$3,063,698→ $0
Savings and Temporary Cash Investments$2,349,000$1,698,000▼ $651,000
Total Assets$51,678,942$54,463,798▲ $2,784,856
Other Assets Total$517,472$606,143▲ $88,671
Liabilities
Other Liabilities$43,899,997$46,725,432▲ $2,825,435
Accounts Payable and Accrued Expenses$109,157$141,308▲ $32,151
Total Liabilities$44,009,154$46,866,740▲ $2,857,586
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,669,788$7,597,058▼ $72,730
Total Liabilities and Net Assets / Fund Balance$51,678,942$54,463,798▲ $2,784,856

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,793,552$825,274$3,618,826
Equipment$278,458$552,265$830,723
Land$542,708-$542,708
Other Securities$335,400--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry AllenCEO/treasureFT$95,862$11,992$107,854

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,026,809
Investment Income
$186,652
Other Revenue
$304,997
Change in Net Assets
$-72,731
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,623,470
Salaries, Compensation, and Employee Benefits$967,719
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$755,685-$755,685
Office Expenses-$330,714-$330,714
Interest-$213,186-$213,186
Occupancy-$199,630-$199,630
Other Employee Benefits-$144,253-$144,253
Payroll Taxes-$51,800-$51,800
Conferences and Meetings-$27,363-$27,363
All Other Expenses-$21,843-$21,843
Other Expenses-$21,207-$21,207
Pension Plan Contributions-$15,981-$15,981
Total Functional Expenses$0$2,591,189$0$2,591,189
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$21,542,881
Regular Shares$18,423,082
Share Drafts$6,759,469
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
P O BOX 5130, JOHNSON CITY, TN 37602

Signing Officer

Name
Danielle Brooks
Title
Interim CEO
Phone
4232834300
Signed
2018-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danielle Brooks
Voting Board Members
5
Independent Board Members
5
Employees
20
Volunteers
5

Preparer

Firm
Leverage the Lscu Service Corporation
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Hiram H Hollifield
Phone
2054372133
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 credi union does not have any unrelated business income.

Form 990, Part XI, Line 9

DUE TO ROUNDING 1

Form 990, Part XII

Annual agreed upon procedures are performed by an independent auditor.

Raw XML Appendix364 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/LandGrp/OtherCostOrOtherBasisAmt0542708
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021542881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118423082
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt26759469
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ALL OTHER SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REGULAR SHARES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SHARE DRAFTS
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1335400
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDI 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/ExplanationTxt9DUE TO ROUNDING 1
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/TotalNetAssetsFundBalanceGrp/EOYAmt07597058
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IRS990/TotalProgramServiceExpensesAmt02591189
IRS990/TotalProgramServiceRevenueAmt02026809
IRS990/TotalReportableCompFromOrgAmt095862
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02518458
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02518458
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ReturnHeader/BusinessOfficerGrp/PersonNm0DANIELLE BROOKS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INTERIM CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04232834300
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GREATER EASTERN CREDIT UNION
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm017:25:46
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591086132
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LEVERAGE THE LSCU SERVICE CORPORATION
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TALLAHASSEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0323117890
ReturnHeader/PreparerPersonGrp/PhoneNum02054372133
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HIRAM H HOLLIFIELD
ReturnHeader/ReturnTs02018-05-14T18:25:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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