Arcade Credit Union FY2021 filing

Not tax-deductible

Asheville, NCMutual-benefit / member-servingSince 1952Mutual / membership EIN 56-0580539Revenue $220K in FY2021Latest return filed May 13, 2026

On file with the IRSarcadecu.comAsheville, NCTax-exempt since Aug 1969

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To make loans and provide savings accounts for members at reasonable rates

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $35K a year · 11% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
198 mo
of spending, in cash
Looks good: 197.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.7M
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$220K
-12% vs prior year
Spent
$224K
To programs
94%
Net assets
$872K
By yearFY2020–FY2025
Revenue
$220K
FY2021▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$250K
FY2021$220K
FY2022$254K
FY2023$382K
FY2024$437K
FY2025$440K
Expenses
$224K
FY2021▼ -18%
Tap a bar for its year
Expenses by fiscal year
FY2020$274K
FY2021$224K
FY2022$257K
FY2023$293K
FY2024$357K
FY2025$370K
Net assets
$872K
FY2021-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$875K
FY2021$872K
FY2022$869K
FY2023$957K
FY2024$1.0M
FY2025$1.1M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1969.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $211K Management & general 6% · $13K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Vice Preside
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Manager/ Tre
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Shelly Fender$55,981$54,191$46,250

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Arcade Credit Union executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers members affordable loans and savings accounts.

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1 program · in their own filed words · FY2021
01

During the year, the credit union served its members by providing loans at reasonable rates. It also accepted deposits and paid reasonable rates of interest on those deposits.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$220K
Ln 12
Fees for servicesLn 2g$202K
Investment incomeLn 3$19K
Money outPt IX
$224K
Ln 25
Programscol B$211K
Managementcol C$13K
Owns and owesPt X
$872K
net assets · Ln 32
Cash and savingsLn 1–2$3.7M
Total assetsLn 16$7.6M
LiabilitiesLn 26$6.7M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$202K
Investment incomeLn 3$19K
Total revenueLn 12$220K
Assets in detailPt X, end of year
CashLn 1$104K
SavingsLn 2$3.6M
Cash and savings togetherLn 1–2$3.7M
Notes and loans receivableLn 7$3.8M
Prepaid expenses and deferred chargesLn 9$19K
Land, buildings, equipmentLn 10c$4K
Other assetsLn 15$69K
Total assetsLn 16$7.6M
LiabilitiesLn 26$6.7M
Net assetsLn 32$872K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.2M$3.7M
Land, buildings, equipmentLn 10c$9K$4K
Total assetsLn 16$7.0M$7.6M
LiabilitiesLn 26$6.1M$6.7M
Net assetsLn 32$875K$872K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$112K$101K$11K
Other fees for servicesLn 11g$14K$14K
Advertising and promotionLn 12$65$65
Office expensesLn 13$28K$28K
Information technologyLn 14$45K$45K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$7K$7K
Other expenses (24a–d)Ln 24$25K$23K$2K
All other expensesLn 24e−$9K−$9K
Total functional expensesLn 25$224K$211K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 13, 2026 $440K$370K$70K$1.1M 990 PDF
FY2024Filed with the IRS May 1, 2025 $437K$357K$80K$1.0M 990 PDF
FY2023Filed with the IRS May 15, 2024 $382K$293K$88K$957K 990 PDF
FY2022Filed with the IRS May 12, 2023 $254K$257K−$3K$869K 990 PDF
FY2021 ViewingFiled with the IRS May 10, 2022 $220K$224K−$4K$872K 990 PDF
FY2020Filed with the IRS May 14, 2021 $250K$274K−$24K$875K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $220,223 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $213,090$201,528
I-10 Investment incomePrior year $37,044$18,695
I-11 Other revenue$0
I-12 Total revenuePrior year $250,134$220,223
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $128,790$111,868
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $144,908$111,870
I-18 Total expensesPrior year $273,698$223,738
I-19 Revenue less expensesPrior year −$23,564−$3,515
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $220,223 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $201,528$201,528
VIII-3 Investment incomeRelated to mission $18,695$18,695
VIII-12 Total revenueRelated to mission $220,223$220,223
Part IX · Statement of functional expenses $223,738 across 9 lines filed
IX-7 Other salaries and wagesPrograms $100,681 · Management $11,187$111,868
IX-11g Other fees for servicesPrograms $14,385$14,385
IX-12 Advertising and promotionPrograms $65$65
IX-13 Office expensesPrograms $28,418$28,418
IX-14 Information technologyPrograms $44,823$44,823
IX-19 Conferences, conventions and meetingsPrograms $1,200$1,200
IX-20 InterestPrograms $6,877$6,877
IX-24 Other expenses (24a–d)Programs $23,146 · Management $1,786$24,932
IX-24e All other expensesPrograms −$8,830−$8,830
IX-25 Total functional expensesPrograms $210,765 · Management $12,973 · Fundraising $0$223,738
Part X · Balance sheet $7,602,782 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $76,841$103,695
X-2 Savings and temporary cash investmentsStart of year $3,079,859$3,578,852
X-7 Notes and loans receivableStart of year $3,753,973$3,827,913
X-9 Prepaid expenses and deferred chargesStart of year $18,294$18,869
X-10c Land, buildings and equipment, netStart of year $9,147$4,089
X-15 Other assetsStart of year $67,116$69,364
X-16 Total assetsStart of year $7,005,230$7,602,782
X-17 Accounts payable and accrued expensesStart of year $27,076$30,020
X-25 Other liabilitiesStart of year $6,102,951$6,701,074
X-26 Total liabilitiesStart of year $6,130,027$6,731,094
X-31 Retained earnings or endowmentStart of year $875,203$871,688
X-32 Total net assets or fund balancesStart of year $875,203$871,688
X-33 Total liabilities and net assetsStart of year $7,005,230$7,602,782
Part XI · Reconciliation of net assets $871,688 net assets at year end
XI-1 Total revenue$220,223
XI-2 Total expenses$223,738
XI-3 Revenue less expenses−$3,515
XI-4 Net assets at start of year$875,203
XI-10 Net assets at end of year$871,688

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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