Civic Intelligence

Lifeway Credit Union

990 • Fiscal year 2016 • EIN 62-6041064

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

One Lifeway PlazaNashville, TN 37234

(615) 251-2091

Siviq Scores

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

Liabilities / Assets

76th percentile

0.91x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

84th percentile

27.36x

Higher debt load relative to revenue than 84% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Net Margin

1st percentile

-71%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

66th percentile

$107,603

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2016

Asset Growth

3rd percentile

-4.1%

Faster asset growth than 3% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-17%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Down

$46,107,685

Down $1,946,660 (-4.1%) from 2015

Net Assets

Down

$4,376,914

Down $1,083,739 (-20%) from 2015

Liabilities

Down

$41,730,771

Down $862,921 (-2.0%) from 2015

Revenue

Down

$1,525,079

Down $312,001 (-17%) from 2015

Expenses

Up

$2,611,804

Up $80,356 (+3.2%) from 2015

Net Income

Down

-$1,086,725

Down $392,357 (-57%) from 2015

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $42,690,153Liabilities 2010: $37,353,546Net Assets 2010: $5,336,6072010Assets 2011: $45,217,033Liabilities 2011: $39,666,668Net Assets 2011: $5,550,3652011Assets 2012: $48,578,019Liabilities 2012: $42,785,359Net Assets 2012: $5,792,6602012Assets 2013: $47,944,923Liabilities 2013: $42,084,590Net Assets 2013: $5,860,3332013Assets 2014: $48,861,644Liabilities 2014: $42,703,728Net Assets 2014: $6,157,9162014Assets 2015: $48,054,345Liabilities 2015: $42,593,692Net Assets 2015: $5,460,6532015Assets 2016: $46,107,685Liabilities 2016: $41,730,771Net Assets 2016: $4,376,9142016Assets 2017: $43,817,851Liabilities 2017: $39,311,418Net Assets 2017: $4,506,4332017Assets 2018: $43,679,291Liabilities 2018: $39,027,173Net Assets 2018: $4,652,1182018Assets 2019: $43,521,400Liabilities 2019: $38,810,706Net Assets 2019: $4,710,6942019Assets 2020: $47,267,745Liabilities 2020: $42,560,602Net Assets 2020: $4,707,1432020Assets 2021: $47,682,396Liabilities 2021: $43,217,094Net Assets 2021: $4,465,3022021Assets 2022: $42,251,248Liabilities 2022: $38,237,112Net Assets 2022: $4,014,1362022Assets 2023: $38,532,997Liabilities 2023: $35,006,128Net Assets 2023: $3,526,8692023Assets 2024: $37,971,210Liabilities 2024: $34,669,660Net Assets 2024: $3,301,5502024

Highlighted filing

2016

Assets$46,107,685
Liabilities$41,730,771
Net Assets$4,376,914

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MExpenses 2010: $1,548,5722010Expenses 2011: $1,510,5472011Expenses 2012: $1,443,7402012Revenue 2013: $1,546,231Expenses 2013: $1,439,088Net Income 2013: $107,1432013Revenue 2014: $1,608,927Expenses 2014: $1,320,512Net Income 2014: $288,4152014Revenue 2015: $1,837,080Expenses 2015: $2,531,448Net Income 2015: -$694,3682015Revenue 2016: $1,525,079Expenses 2016: $2,611,804Net Income 2016: -$1,086,7252016Revenue 2017: $1,425,190Expenses 2017: $1,345,019Net Income 2017: $80,1712017Revenue 2018: $1,605,788Expenses 2018: $1,479,776Net Income 2018: $126,0122018Revenue 2019: $1,711,632Expenses 2019: $1,653,056Net Income 2019: $58,5762019Revenue 2020: $1,626,571Expenses 2020: $1,607,561Net Income 2020: $19,0102020Revenue 2021: $1,242,004Expenses 2021: $1,483,845Net Income 2021: -$241,8412021Revenue 2022: $1,203,640Expenses 2022: $1,654,806Net Income 2022: -$451,1662022Revenue 2023: $1,445,218Expenses 2023: $1,812,740Net Income 2023: -$367,5222023Revenue 2024: $1,778,489Expenses 2024: $2,003,808Net Income 2024: -$225,3192024

Highlighted filing

2016

Revenue$1,525,079
Expenses$2,611,804
Net Income-$1,086,725
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$1,525,079
Mission and Program Overview

Mission

Providing credit union services

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$23,291,920$22,976,905▼ $315,015
Other Notes and Loans Receivable, Net$19,793,495$19,102,071▼ $691,424
Rtn Earn Endowment Incm Other Fnds$5,460,653$4,376,914▼ $1,083,739
Cash and Non-Interest-Bearing Accounts$746,132$1,255,324▲ $509,192
Receivables From Officers Etc$505,309$1,023,998▲ $518,689
Savings and Temporary Cash Investments$2,798,516$779,994▼ $2,018,522
Prepaid Expenses and Deferred Charges$56,820$113,972▲ $57,152
Land, Buildings, and Equipment, Net$46,772$34,074▼ $12,698
Total Assets$48,054,345$46,107,685▼ $1,946,660
Other Assets Total$815,381$821,347▲ $5,966
Liabilities
Other Liabilities$42,358,659$41,553,922▼ $804,737
Accounts Payable and Accrued Expenses$235,033$176,849▼ $58,184
Total Liabilities$42,593,692$41,730,771▼ $862,921
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,460,653$4,376,914▼ $1,083,739
Total Liabilities and Net Assets / Fund Balance$48,054,345$46,107,685▼ $1,946,660

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$33,423$253,033$286,456
Leasehold Improvements$651$25,915$26,566
Other Assets Org$100,086--
Other Securities$6,711,905--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Wade StapletonCEO/managerFT$107,603$107,603

Board Members and Trustees

NameTitle
John GardnerChair
Jim ForresterBoard Mbr
John JaredBoard Mbr
David JamiesonBoard Mbr.
Mike PuckettBoard Mbr.
Ron ChandlerBoard Mbr.
Dan JohnsonBoard Secy.
Art TennilleOfficial
Royce ArmstrongOfficial
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,080,888
Investment Income
$261,421
Other Revenue
$182,770
Change in Net Assets
$-1,086,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,045,450
Salaries, Compensation, and Employee Benefits$566,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$305,085$0$0$305,085
Other Salaries and Wages$140,512$0$0$140,512
Other Employee Benefits$95,596$0$0$95,596
Other Expenses$36,153$0$0$36,153
Pension Plan Contributions$25,161$0$0$25,161
Depreciation Depletion$16,673$0$0$16,673
Total Functional Expenses$2,611,804$0$0$2,611,804
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$505,309$1,023,998▲ $518,689
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$41,553,922
Governance and Compliance

Governance Checklist

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

Filer

Filer Name
Lifeway Credit Union
EIN
62-6041064
Phone
6152512091
Address
ONE LIFEWAY PLAZA, NASHVILLE, TN 37234

Signing Officer

Name
David Chandler
Title
Chairman
Phone
6152512091
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emmett Wood
Formed
1957
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
10
Volunteers
9

Preparer

Firm
Milton G Anderson CPA Pc
Address
3640A Central Pike, Hermitage, TN 37076
Preparer
Milton G Anderson CPA
Phone
6159426547
Supplemental Narrative

Additional Explanations

Pt VI, Line 10B

CU MBR SHIP

Pt VI, Line 11B

BOARD MEETINGS

Pt VI, Line 12C

BOARD MEETINGS

Pt VI, Line 15A

COMPENSATION COMMITTEE

Pt VI, Line 15B

COMPENSATION COMMITTEE

Pt XI

Net change in unrealized gain on investments

Pt VI, Line 19

POSTING IN CU LOBBY

Pt XI

Adjustment for change in unrealized gain/(loss) afs securities

Pt VI, Line 7A

PER BOARD

Pt VI, Line 6

The credit union has members

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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt01023998
IRS990/ReconcilationRevenueExpnssAmt0-1086725
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0651
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1100086
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ACCRUED INTEREST RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0HTM INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/Desc1AFS SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt034074
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0821347
IRS990ScheduleD/TotalBookValueSecuritiesAmt022976905
IRS990ScheduleD/TotalLiabilityAmt041553922
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt37519
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt5290000
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt838709
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt910288
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt102227
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt118112
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1253953
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt139696
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1450970
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1531637
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt164314
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt175467
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt20186287
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt218590
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt2235013
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd5X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd6X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd7X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd8X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd9X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd10X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd11X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd12X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd13X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd14X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd15X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd16X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd17X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd18X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd19X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd20X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd21X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd22X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1R.E.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2SIG
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt5R.E.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt6AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt7AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt8HELOC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt9M/C

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.0$34.7$3.30$1.78$2.00$0.23
2023Detailed filing. Detailed filing data is available for this year.$38.5$35.0$3.53$1.45$1.81$0.37
2022Detailed filing. Detailed filing data is available for this year.$42.3$38.2$4.01$1.20$1.65$0.45
2021Detailed filing. Detailed filing data is available for this year.$47.7$43.2$4.47$1.24$1.48$0.24
2020Detailed filing. Detailed filing data is available for this year.$47.3$42.6$4.71$1.63$1.61$0.02
2019Detailed filing. Detailed filing data is available for this year.$43.5$38.8$4.71$1.71$1.65$0.06
2018Detailed filing. Detailed filing data is available for this year.$43.7$39.0$4.65$1.61$1.48$0.13
2017Detailed filing. Detailed filing data is available for this year.$43.8$39.3$4.51$1.43$1.35$0.08
2016Detailed filing. Detailed filing data is available for this year.$46.1$41.7$4.38$1.53$2.61$1.09
2015Detailed filing. Detailed filing data is available for this year.$48.1$42.6$5.46$1.84$2.53$0.69
2014Detailed filing. Detailed filing data is available for this year.$48.9$42.7$6.16$1.61$1.32$0.29
2013Detailed filing. Detailed filing data is available for this year.$47.9$42.1$5.86$1.55$1.44$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.6$42.8$5.79$1.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$39.7$5.55$1.51
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.7$37.4$5.34$1.55