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Tnconnect Credit Union

Not tax-deductible

Knoxville, TNMutual-benefit / member-servingSince 1924Mutual / membership EIN 62-0262707Revenue $4.8M in FY2025

On file with the IRStnconnectcu.org6211 Middlebrook Pike, 37909-1236 · Knoxville, TNTax-exempt since Jun 1952

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Tnconnect Credit Union is a state-chartered Credit Union mutually owned by 6,316 members, to promote thrift, issue shares, maintain accounts, and to make loans to our members. Funds not needed currently for liquidity or for loans are temporarily invested.

100¢ of each $1 spent went to programs.
Run by 10 volunteers and 22 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
6 of 6
filings with a surplus
Average surplus $384K a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$298K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
44 mo
of spending, in cash
Looks good: 44.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
−$1.2M
-1% of total assets
Looks good: liabilities are -1% of assets; 50% or less.
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
$4.8M
+10% vs prior year
Spent
$4.3M
To programs
100%
Net assets
$87.2M
By yearFY2020–FY2025
Revenue
$4.8M
FY2025▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021$3.2M
FY2022$3.1M
FY2023$3.7M
FY2024$4.4M
FY2025$4.8M
Expenses
$4.3M
FY2025▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$2.8M
FY2022$2.9M
FY2023$3.3M
FY2024$3.8M
FY2025$4.3M
Net assets
$87.2M
FY2025▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$66.6M
FY2021$76.7M
FY2022$76.7M
FY2023$73.3M
FY2024$78.9M
FY2025$87.2M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1952.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $4.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $298K paid to officers and key staff.

Part VII, Section A · reportable compensation
Martin T Bradley
Presidentceo
$140,856Pt VII · Sec A
Thomas Lumadue
Chief Technology Officer
$80,920Pt VII · Sec A
Suzanne Summerville
Chief Financial Officer
$76,375Pt VII · Sec A
Timothy Sawyer
Board Chairman
$0Pt VII · Sec A
Daniel Goleach
Board Vice Chairman
$0Pt VII · Sec A
Chuck Brantley
Board Secretary
$0Pt VII · Sec A
Joann Jeter
Board Member
$0Pt VII · Sec A
Melvin Teaster
Board Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Martin T Bradley$140,856$130,238$123,453$117,495$114,400$110,500
Tammy T Hill——$101,354$81,245$78,900$76,200
Thomas Lumadue$80,920$82,564$74,415$69,516$67,400$65,100
Suzanne Summerville$76,375$69,173$64,879$60,107$58,200$50,500
Cynthia Johnson——$64,630———

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 Tnconnect Credit Union executive salaries →

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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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Promote thrift, maintain accounts, and make loans for members.

Questions for Tnconnect Credit Union

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Provided by the organization

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1 program · $4.3M · in their own filed words · FY2025
01

Operated during 2025 as a state-chartered credit union, mutually owned by our 6,316 members, to promote thrift, issue shares, maintain accounts, and make loans to our members. Funds not needed currently for liquidity or for loans are temporarily invested. All of our revenues and expenses are related to this purpose.

$4.3Mprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.8M
Ln 12
Fees for servicesLn 2g$4.8M
Money outPt IX
$4.3M
Ln 25
Programscol B$4.3M
Owns and owesPt X
$87.2M
net assets · Ln 32
Cash and savingsLn 1–2$16.0M
Total assetsLn 16$86.0M
LiabilitiesLn 26−$1.2M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$4.8M
Total revenueLn 12$4.8M
Assets in detailPt X, end of year
CashLn 1$691K
SavingsLn 2$15.3M
Cash and savings togetherLn 1–2$16.0M
InvestmentsLn 11–13$1.7M
Land, buildings, equipmentLn 10c$2.9M
Other assetsLn 15$1.3M
Total assetsLn 16$86.0M
LiabilitiesLn 26−$1.2M
Net assetsLn 32$87.2M
OperationsPt I, VI
EmployeesI 522
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$13.8M$16.0M
InvestmentsLn 11–13$2.1M$1.7M
Land, buildings, equipmentLn 10c$3.0M$2.9M
Total assetsLn 16$79.9M$86.0M
LiabilitiesLn 26$1.0M−$1.2M
Net assetsLn 32$78.9M$87.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$298K$298K
Other salaries and wagesLn 7$850K$850K
Pension plan contributionsLn 8$61K$61K
Other employee benefitsLn 9$152K$152K
Payroll taxesLn 10$86K$86K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$34K$34K
Office expensesLn 13$148K$148K
Information technologyLn 14$291K$291K
OccupancyLn 16$133K$133K
TravelLn 17$71$71
Conferences, conventions and meetingsLn 19$34K$34K
InterestLn 20$674K$674K
Depreciation, depletion and amortizationLn 22$96K$96K
InsuranceLn 23$44K$44K
Other expenses (24a–d)Ln 24$1.1M$1.1M
All other expensesLn 24e$310K$310K
Total functional expensesLn 25$4.3M$4.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $4.8M$4.3M$482K$87.2M 990 PDF
FY2024 $4.4M$3.8M$537K$78.9M 990 PDF
FY2023 $3.7M$3.3M$354K$73.3M 990 PDF
FY2022 $3.1M$2.9M$214K$76.7M 990 PDF
FY2021 $3.2M$2.8M$478K$76.7M 990 PDF
FY2020 $3.1M$2.8M$238K$66.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $4,828,666 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $4,376,486$4,828,666
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $4,376,486$4,828,666
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,352,408$1,446,980
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,487,258$2,900,043
I-18 Total expensesPrior year $3,839,666$4,347,023
I-19 Revenue less expensesPrior year $536,820$481,643
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,828,666 across 2 lines filed
Lines not itemized here account for $571,153 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,257,513$4,257,513
VIII-12 Total revenueRelated to mission $4,828,666 · Unrelated business $0 · Excluded from tax $0$4,828,666
Part IX · Statement of functional expenses $4,347,023 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $298,151$298,151
IX-7 Other salaries and wagesPrograms $850,439$850,439
IX-8 Pension plan contributionsPrograms $60,618$60,618
IX-9 Other employee benefitsPrograms $151,985$151,985
IX-10 Payroll taxesPrograms $85,787$85,787
IX-11b Legal feesPrograms $7,200$7,200
IX-11c Accounting feesPrograms $9,700$9,700
IX-12 Advertising and promotionPrograms $34,496$34,496
IX-13 Office expensesPrograms $147,735$147,735
IX-14 Information technologyPrograms $290,551$290,551
IX-16 OccupancyPrograms $132,772$132,772
IX-17 TravelPrograms $71$71
IX-19 Conferences, conventions and meetingsPrograms $34,256$34,256
IX-20 InterestPrograms $673,932$673,932
IX-22 Depreciation, depletion and amortizationPrograms $95,817$95,817
IX-23 InsurancePrograms $44,010$44,010
IX-24 Other expenses (24a–d)Programs $1,119,352$1,119,352
IX-24e All other expensesPrograms $310,151$310,151
IX-25 Total functional expensesPrograms $4,347,023 · Management $0 · Fundraising $0$4,347,023
Part X · Balance sheet $85,995,229 assets, 12 lines filed
Asset lines not itemized here account for $63,492,825; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $652,542$690,947
X-2 Savings and temporary cash investmentsStart of year $13,115,759$15,343,634
X-9 Prepaid expenses and deferred chargesStart of year $588,988$523,707
X-10c Land, buildings and equipment, netStart of year $2,965,857$2,926,664
X-11 Publicly traded securitiesStart of year $1,000,798$500,000
X-13 Program-related investmentsStart of year $1,130,927$1,189,911
X-15 Other assetsStart of year $2,518,874$1,327,541
X-16 Total assetsStart of year $79,941,995$85,995,229
X-17 Accounts payable and accrued expensesStart of year $1,011,130−$1,172,432
X-26 Total liabilitiesStart of year $1,011,130−$1,172,432
X-32 Total net assets or fund balancesStart of year $78,930,865$87,167,661
X-33 Total liabilities and net assetsStart of year $79,941,995$85,995,229
Part XI · Reconciliation of net assets $87,167,661 net assets at year end
XI-1 Total revenue$4,828,666
XI-2 Total expenses$4,347,023
XI-3 Revenue less expenses$481,643
XI-4 Net assets at start of year$78,930,865
XI-9 Other changes in net assets$7,755,153
XI-10 Net assets at end of year$87,167,661

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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