Civic Intelligence

Beacon Financial Credit Union

990 • Fiscal year 2024 • EIN 62-6041473

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 30, 2025

Organization Profilewww.beaconfcu.org

View Organization Page

1102 West Market Street STE Suite 2Johnson City, TN 37604

(423) 975-0025

Siviq Scores

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

Liabilities / Assets

64th percentile

0.89x

Higher debt load relative to assets than 64% of similar nonprofits.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

9th percentile

7.38x

Higher debt load relative to revenue than 9% of similar nonprofits.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2024

Net Margin

62nd percentile

17%

Higher net margin than 62% of similar nonprofits.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2024

Asset Growth

3rd percentile

-11%

Faster asset growth than 3% of similar nonprofits.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

99th percentile

48%

Faster revenue growth than 99% of similar nonprofits.

2024 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$28,183,455

Down $3,412,921 (-11%) from 2023

Net Assets

Up

$3,234,300

Up $570,355 (+21%) from 2023

Liabilities

Down

$24,949,155

Down $3,983,276 (-14%) from 2023

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin62nd percentile

Revenue

Up

$3,380,669

Up $1,093,245 (+48%) from 2023

Expenses

Up

$2,810,314

Up $584,547 (+26%) from 2023

Net Income

Up

$570,355

Up $508,698 (+825%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$40M$30M$20M$10M$0Assets 2010: $13,410,960Liabilities 2010: $11,488,194Net Assets 2010: $1,922,7662010Assets 2011: $14,516,067Liabilities 2011: $12,728,934Net Assets 2011: $1,787,1332011Assets 2012: $15,037,660Liabilities 2012: $13,373,881Net Assets 2012: $1,663,7792012Assets 2013: $15,095,353Liabilities 2013: $13,599,358Net Assets 2013: $1,495,9952013Assets 2014: $16,008,560Liabilities 2014: $14,503,070Net Assets 2014: $1,505,4902014Assets 2015: $16,216,234Liabilities 2015: $14,834,765Net Assets 2015: $1,381,4692015Assets 2016: $17,809,988Liabilities 2016: $16,378,022Net Assets 2016: $1,431,9662016Assets 2017: $19,410,679Liabilities 2017: $17,898,449Net Assets 2017: $1,512,2302017Assets 2018: $21,621,201Liabilities 2018: $19,904,393Net Assets 2018: $1,716,8082018Assets 2019: $24,205,960Liabilities 2019: $22,245,430Net Assets 2019: $1,960,5302019Assets 2020: $26,653,070Liabilities 2020: $24,591,412Net Assets 2020: $2,061,6582020Assets 2021: $26,846,097Liabilities 2021: $26,846,097Net Assets 2021: $02021Assets 2022: $30,130,534Liabilities 2022: $27,423,281Net Assets 2022: $2,707,2532022Assets 2023: $31,596,376Liabilities 2023: $28,932,431Net Assets 2023: $2,663,9452023Assets 2024: $28,183,455Liabilities 2024: $24,949,155Net Assets 2024: $3,234,3002024

Highlighted filing

2024

Assets$28,183,455
Liabilities$24,949,155
Net Assets$3,234,300
Open 2024 Filing

Operations Trend

Revenue Growth99th 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: $896,6132010Revenue 2011: $843,630Expenses 2011: $963,808Net Income 2011: -$120,1782011Expenses 2012: $1,013,5342012Revenue 2013: $861,507Expenses 2013: $991,546Net Income 2013: -$130,0392013Revenue 2014: $778,919Expenses 2014: $751,428Net Income 2014: $27,4912014Revenue 2015: $734,105Expenses 2015: $858,128Net Income 2015: -$124,0232015Revenue 2016: $955,772Expenses 2016: $905,274Net Income 2016: $50,4982016Revenue 2017: $1,211,917Expenses 2017: $1,131,653Net Income 2017: $80,2642017Revenue 2018: $1,445,601Expenses 2018: $1,241,023Net Income 2018: $204,5782018Revenue 2019: $1,630,392Expenses 2019: $1,386,671Net Income 2019: $243,7212019Revenue 2020: $1,755,557Expenses 2020: $1,654,626Net Income 2020: $100,9312020Revenue 2021: $1,838,788Expenses 2021: $1,511,838Net Income 2021: $326,9502021Revenue 2022: $2,370,404Expenses 2022: $2,051,759Net Income 2022: $318,6452022Revenue 2023: $2,287,424Expenses 2023: $2,225,767Net Income 2023: $61,6572023Revenue 2024: $3,380,669Expenses 2024: $2,810,314Net Income 2024: $570,3552024

Highlighted filing

2024

Revenue$3,380,669
Expenses$2,810,314
Net Income$570,355
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 30, 2025
Return Version
2024v5.1
Gross Receipts
$3,380,669
Mission and Program Overview

Mission

Credit Union - Providing a variety of financial services to approximately 2,322 members including loans and savings.

Credit Union Provide a variety of financial services to its members Including savings and loans

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$28,125,328$24,446,131▼ $3,679,197
Rtn Earn Endowment Incm Other Fnds$2,663,945$3,234,300▲ $570,355
Land, Buildings, and Equipment, Net$1,727,043$2,937,487▲ $1,210,444
Cash and Non-Interest-Bearing Accounts$1,235,907$275,538▼ $960,369
Investments Program Related$243,517--
Savings and Temporary Cash Investments$99,472$99,472→ $0
Prepaid Expenses and Deferred Charges$18,936$25,935▲ $6,999
Total Assets$31,596,376$28,183,455▼ $3,412,921
Other Assets Total$146,173$398,892▲ $252,719
Liabilities
Other Liabilities$27,684,804$24,949,155▼ $2,735,649
Mortgage Notes Payable Secured by Investment Property$1,247,627--
Total Liabilities$28,932,431$24,949,155▼ $3,983,276
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,663,945$3,234,300▲ $570,355
Total Liabilities and Net Assets / Fund Balance$31,596,376$28,183,455▼ $3,412,921

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,574,338$1,057,708$3,632,046
Equipment$167,934$794,309$962,243
Leasehold Improvements$195,215$202,633$397,848
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Shana TateBoard Chairperson
Shane HiltonBoard Vice Chairperson
Alison JohnsonBoard Member
Debbie DoverBoard Member
Chris BrackettDirector
Sharon SheppardDirector
Tom TullDirector
John-michael NelmsCFO
Danielle BrooksCOO
Doug JanzSecretary
Robert BenderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,702,103
Investment Income
$1,119,524
Other Revenue
$559,042
Change in Net Assets
$570,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,815,676
Salaries, Compensation, and Employee Benefits$994,638
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$563,833
Other Salaries and Wages---$552,988
Other Expenses---$322,800
Current Officers, Directors, Trustees, and Key Employees---$282,052
Office Expenses---$281,884
Information Technology---$222,205
Occupancy---$112,365
Depreciation Depletion---$90,409
Pension Plan Contributions---$63,616
Payroll Taxes---$63,122
Other Employee Benefits---$32,860
Advertising---$32,280
Insurance---$30,094
Total Functional Expenses$0$0$0$2,810,314
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liability$24,949,155
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“Board of Directors Review at monthly meeting”

Part VI Line 19

“Made available upon request”

Filing and Contact Details

Filer

Filer Name
Beacon Financial Credit Union
EIN
62-6041473
In Care Of
% John-Michael Nelms
Phone
4239750025
Address
1102 West Market Street STE Suite 2, Johnson City, TN 37604

Signing Officer

Name
John-michael Nelms
Title
Chief Executive Officer
Phone
4239750025
Signed
2025-04-30

Organization Details

Formed
1951
Legal Domicile
Tn
Voting Board Members
0
Independent Board Members
0
Employees
0
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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/EquipmentGrp/DepreciationAmt0794309
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0962243
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IRS990/USAddress/AddressLine1Txt01102 West Market Street Ste Suite 2
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IRS990/WebsiteAddressTxt0www.beaconfcu.org
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN-MICHAEL NELMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Executive Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum04239750025
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Beacon Financial Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0BEAC
ReturnHeader/Filer/EIN0626041473
ReturnHeader/Filer/InCareOfNm0% John-Michael Nelms
ReturnHeader/Filer/PhoneNum04239750025
ReturnHeader/Filer/USAddress/AddressLine1Txt01102 West Market Street STE Suite 2
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ReturnHeader/ReturnTs02025-04-30T09:56:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,183,455
Liabilities
$24,949,155
Net assets
$3,234,300
Revenue
$3,380,669
Expenses
$2,810,314
Net income
$570,355
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.2$24.9$3.23$3.38$2.81$0.57
2023Summary only. Only limited summary data is available for this year.$31.6$28.9$2.66$2.29$2.23$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.1$27.4$2.71$2.37$2.05$0.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.8$26.8$0.00$1.84$1.51$0.33
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.7$24.6$2.06$1.76$1.65$0.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.2$22.2$1.96$1.63$1.39$0.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.6$19.9$1.72$1.45$1.24$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$17.9$1.51$1.21$1.13$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.8$16.4$1.43$0.96$0.91$0.05
2015Detailed filing. Detailed filing data is available for this year.$16.2$14.8$1.38$0.73$0.86$0.12
2014Summary only. Only limited summary data is available for this year.$16.0$14.5$1.51$0.78$0.75$0.03
2013Detailed filing. Detailed filing data is available for this year.$15.1$13.6$1.50$0.86$0.99$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$13.4$1.66$1.01
2011Summary only. Only limited summary data is available for this year.$14.5$12.7$1.79$0.84$0.96$0.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$11.5$1.92$0.90