Civic Intelligence

Brassies Credit Union

EIN 63-0337435 • 501(c)14 • Anniston, AL

Profile

Credit union-to provide services for approximately 596 members in the form of loans, savings, and other financial services.

PO Box 1229Anniston, AL 36202
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.82x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

62nd percentile

14.92x

Higher debt load relative to revenue than 62% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Source year 2019

Net Margin

26th percentile

-19%

Higher net margin than 26% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

41st percentile

-8.9%

Faster asset growth than 41% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

50th percentile

0.9%

Faster revenue growth than 50% of similar nonprofits.

501(c)14 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$3,682,008

Down $360,750 (-8.9%) from 2018

Liabilities

Down

$3,005,425

Down $322,145 (-9.7%) from 2018

Net Assets

Down

$676,583

Down $38,605 (-5.4%) from 2018

Revenue

Up

$201,393

Up $1,775 (+0.9%) from 2018

Expenses

Down

$239,998

Down $37,897 (-14%) from 2018

Net Income

Up

-$38,605

Up $39,672 (+51%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $8,277,743Liabilities 2011: $7,209,027Net Assets 2011: $1,068,7162011Assets 2012: $7,572,514Liabilities 2012: $7,572,514Net Assets 2012: $02012Assets 2013: $7,292,048Liabilities 2013: $6,561,048Net Assets 2013: $731,0002013Assets 2014: $6,079,262Liabilities 2014: $5,262,734Net Assets 2014: $816,5282014Assets 2015: $5,472,285Liabilities 2015: $4,644,991Net Assets 2015: $827,2942015Assets 2016: $5,290,580Liabilities 2016: $4,444,689Net Assets 2016: $845,8912016Assets 2017: $4,455,676Liabilities 2017: $3,662,211Net Assets 2017: $793,4652017Assets 2018: $4,042,758Liabilities 2018: $3,327,570Net Assets 2018: $715,1882018Assets 2019: $3,682,008Liabilities 2019: $3,005,425Net Assets 2019: $676,5832019

Highlighted filing

2019

Assets$3,682,008
Liabilities$3,005,425
Net Assets$676,583

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $365,542Expenses 2011: $323,985Net Income 2011: $41,5572011Revenue 2012: $320,578Expenses 2012: $317,203Net Income 2012: $3,3752012Revenue 2013: $280,794Expenses 2013: $577,578Net Income 2013: -$296,7842013Revenue 2014: $218,917Expenses 2014: $133,389Net Income 2014: $85,5282014Revenue 2015: $217,778Expenses 2015: $207,013Net Income 2015: $10,7652015Revenue 2016: $207,743Expenses 2016: $189,146Net Income 2016: $18,5972016Revenue 2017: $213,511Expenses 2017: $265,937Net Income 2017: -$52,4262017Revenue 2018: $199,618Expenses 2018: $277,895Net Income 2018: -$78,2772018Revenue 2019: $201,393Expenses 2019: $239,998Net Income 2019: -$38,6052019

Highlighted filing

2019

Revenue$201,393
Expenses$239,998
Net Income-$38,605

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 10, 2020
Return Version
2019v5.0
Gross Receipts
$284,893
Mission and Program Overview

Mission

Credit Union - To provide services for approximately 614 members in the form of loans, checking and savings accounts, and other financial services.

Credit Union - To provide services for approximately 511 members in the form of loans, checking and savings accounts, and other financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,027,173$2,003,425▼ $23,748
Investments Other Securities$1,014,000$825,000▼ $189,000
Cap Stk Tr Prin Current Funds$620,000$620,000→ $0
Savings and Temporary Cash Investments$620,000$370,000▼ $250,000
Cash and Non-Interest-Bearing Accounts$163,545$267,445▲ $103,900
Land, Buildings, and Equipment, Net$140,119$125,864▼ $14,255
Rtn Earn Endowment Incm Other Fnds$95,188$56,583▼ $38,605
Prepaid Expenses and Deferred Charges$6,275$2,212▼ $4,063
Total Assets$4,042,758$3,682,008▼ $360,750
Other Assets Total$71,646$88,062▲ $16,416
Liabilities
Other Liabilities$3,324,320$2,997,585▼ $326,735
Accounts Payable and Accrued Expenses$3,250$7,840▲ $4,590
Total Liabilities$3,327,570$3,005,425▼ $322,145
Net Assets / Fund Balance
Total Net Assets Fund Balance$715,188$676,583▼ $38,605
Total Liabilities and Net Assets / Fund Balance$4,042,758$3,682,008▼ $360,750

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,566$55,448-
Leasehold Improvements$121,298$19,646-
Other Assets Org$3,669--
Other Securities$825,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michelle L KingCEOBoard Secretary-TreasurerFT$67,072$67,072
Pamela G SmithOffice MgrLoan OfficerFT$45,380$45,380

Board Members and Trustees

NameTitle
Nina GilbertBoard Chairperson
Laurie R RigsbySupervisory Committee Chairpe
Richard B RayBoard Vice Chairperson
Judy VinsonBoard Member
Richard Barnhill JrBoard Member
David S SmithSupervisory Committee Member
Mack HarrisSupervisory Committee Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$175,496
Investment Income
$22,297
Other Revenue
$3,600
Change in Net Assets
$-38,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$139,880
Other Expenses$100,118
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$79,790--$79,790
Office Expenses$34,424--$34,424
Other Employee Benefits$32,662--$32,662
Other Salaries and Wages$19,547--$19,547
Depreciation Depletion$14,256--$14,256
Interest$9,047--$9,047
Payroll Taxes$7,881--$7,881
Insurance$6,570--$6,570
Occupancy$6,173--$6,173
Fees for Services Legal$5,520--$5,520
Fees for Services Other$2,357--$2,357
Fees for Services Accounting$1,367--$1,367
All Other Expenses$558--$558
Other Expenses$-14,874--$-14,874
Total Functional Expenses$239,998$0$0$239,998
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
Member Shares - Regular$2,569,704
Member Shares - Certificates$374,765
Member Shares - Club Accounts$53,116
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 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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

Hours of service are related to duties of the Board of Directors, Supervisory Committee and Credit Committee without compensation. The credit union is owned by its members.

Member election for additional members Part VI line 7A

The Board of Directors is elected by credit union 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 each annual meeting.

Governing body decisions Part VI line 7B

Some decisions made by the Board of Directors are affirmed by the credit unions membership.

Form 990 governing body review Part VI line 11

The Form 990 is reviewed by the manager. The Form 990 is available for review by Board Members upon request.

Conflict of interest policy compliance Part VI line 12C

The Board of Directors monitor and enforce the Conflict of Interest policy.

CEO executive director top management comp Part VI line 15A

Compensation is based on comparable compensation in the industry in light of the credit unions asset size. Compensation is reviewed by the Board of Directors, who approves compensation and/or increases in salary for each position.

Governing documents etc available to public Part VI line 19

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

Filing and Contact Details

Filer

Filer Name
Brassies Credit Union
EIN
63-0337435
Address
PO Box 1229, Anniston, AL 36202

Signing Officer

Name
Michelle L King
Title
CEOBoard Secre
Phone
2568317180
Signed
2020-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle L King
Formed
1954
Legal Domicile
Al
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
5

Preparer

Firm
Markham and Company LLC
Address
P O Box 39, Weaver, AL 36277
Preparer
Annette M Markham CPA
Phone
2562392901
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

The credit union does not have any unrelated business income.

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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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IRS990/ReconcilationRevenueExpnssAmt0-38605
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt056583
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07461
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15302
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt232580
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt339050
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt43669
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Accrued Investment Income
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2NCUSIF Deposit
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Repossessed Assets
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4ACH Clearing
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member Shares - Certificates
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member Shares - Club Accounts
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The credit union does not have any unrelated business income.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Hours of service are related to duties of the Board of Directors, Supervisory Committee and Credit Committee without compensation. The credit union is owned by its members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors is elected by credit union 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 each annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Some decisions made by the Board of Directors are affirmed by the credit unions membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Form 990 is reviewed by the manager. The Form 990 is available for review by Board Members upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors monitor and enforce the Conflict of Interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Compensation is based on comparable compensation in the industry in light of the credit unions asset size. Compensation is reviewed by the Board of Directors, who approves compensation and/or increases in salary for each position.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Financial documents for each month are posted in the credit union lobby by the 15th of the subsequent month.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0239998
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03327570
IRS990/TotalLiabilitiesEOYAmt03005425
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IRS990/TotalLiabilitiesGrp/EOYAmt03005425
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0676583
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0239998
IRS990/TotalProgramServiceRevenueAmt0175496
IRS990/TotalReportableCompFromOrgAmt0112452
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0201393
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0201393
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03682008
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-09-10 13:11:23Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michelle L King
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEOBoard Secre
ReturnHeader/BusinessOfficerGrp/PhoneNum02568317180
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Brassies Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0BRAS
ReturnHeader/Filer/EIN0630337435
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 1229
ReturnHeader/Filer/USAddress/CityNm0Anniston
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AL
ReturnHeader/Filer/USAddress/ZIPCd036202
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08AB495905AF7C9F71A870B9A101DBAE3BFE53BEE
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08AB495905AF7C9F71A870B9A101DBAE3BFE53BEE
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId06335742020071mk1ekvm
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-03-11
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0174.126.173.94
ReturnHeader/FilingSecurityInformation/IPDt02020-03-11
ReturnHeader/FilingSecurityInformation/IPTm017:40:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471483460
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Markham and Company LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 39
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Weaver
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd036277
ReturnHeader/PreparerPersonGrp/PhoneNum02562392901

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