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Gateway Credit Union FY2020 filing

Not tax-deductible

Clarksville, TNMutual-benefit / member-servingMutual / membership EIN 62-0631391Revenue $729K in FY2020

On file with the IRSgatewaycreditunion.com100 Otis Smith Dr, 37043-8939 · Clarksville, TNTax-exempt since Nov 2016

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Credit Union - to provide financial services for its members.

$59K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2020 · 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
5 of 6
filings with a surplus
Average surplus $13K a year · 1% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$59K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
58 mo
of spending, in cash
Looks good: 58.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$11.1M
92% of total assets
Concern: liabilities are 92% 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
$729K
Spent
$686K
To programs
0%
Net assets
$951K
By yearFY2020–FY2025
Revenue
$729K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$729K
FY2021$685K
FY2022$733K
FY2023$861K
FY2024$1.0M
FY2025$1.0M
Expenses
$686K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$686K
FY2021$657K
FY2022$654K
FY2023$842K
FY2024$900K
FY2025$1.2M
Net assets
$951K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$951K
FY2021$979K
FY2022$1.1M
FY2023$1.1M
FY2024$1.5M
FY2025$1.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Nov 2016.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $686K

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; $59K paid to officers and key staff.

Part VII, Section A · reportable compensation
$58,601Pt VII · Sec A
$0Pt VII · Sec A
Dustyn Brewer
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
Deanna Akin
Treasurer
$0Pt VII · Sec A
Michael Long
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Annette Passe$81,080$75,753$71,927$71,210$64,700—
Annette Elliott—————$58,601

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 Gateway 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 15aNo

Programs and updates

Offers financial services to its members.

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Provided by the organization

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2 programs · $686K · in their own filed words · FY2020
01

The credit union provided a variety of loan services for its members.

$662Kprogram expense
02

The credit union provided a variety of deposit services for its members.

$24Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$729K
Ln 12
Fees for servicesLn 2g$691K
Investment incomeLn 3$22K
Other incomeLn 4–11$16K
Money outPt IX
$686K
Ln 25
Managementcol C$686K
Owns and owesPt X
$951K
net assets · Ln 32
Cash and savingsLn 1–2$3.3M
Total assetsLn 16$12.0M
LiabilitiesLn 26$11.1M
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$691K
Investment incomeLn 3$22K
Other incomeLn 4–11$16K
Total revenueLn 12$729K
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$498K
Cash and savings togetherLn 1–2$3.3M
InvestmentsLn 11–13$86K
Land, buildings, equipmentLn 10c$918K
Other assetsLn 15$125K
Total assetsLn 16$12.0M
LiabilitiesLn 26$11.1M
Net assetsLn 32$951K
OperationsPt I, VI
EmployeesI 510
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.2M$3.3M
InvestmentsLn 11–13$86K$86K
Land, buildings, equipmentLn 10c$932K$918K
Total assetsLn 16$11.7M$12.0M
LiabilitiesLn 26$10.8M$11.1M
Net assetsLn 32$907K$951K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$223K$223K
Other employee benefitsLn 9$10K$10K
Payroll taxesLn 10$17K$17K
Office expensesLn 13$142K$142K
OccupancyLn 16$50K$50K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$24K$24K
Other expenses (24a–d)Ln 24$205K$205K
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$686K$0$686K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.0M$1.2M−$193K$1.3M 990 PDF
FY2024 $1.0M$900K$101K$1.5M 990 PDF
FY2023 $861K$842K$18K$1.1M 990 PDF
FY2022 $733K$654K$79K$1.1M 990 PDF
FY2021 $685K$657K$28K$979K 990 PDF
FY2020 Viewing $729K$686K$44K$951K 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 FY2020 990 (6 parts)
Part I · Summary $729,441 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $674,514$691,014
I-10 Investment incomePrior year $34,356$22,151
I-11 Other revenuePrior year $15,347$16,276
I-12 Total revenuePrior year $724,217$729,441
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $248,383$249,579
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $428,680$436,177
I-18 Total expensesPrior year $677,063$685,756
I-19 Revenue less expensesPrior year $47,154$43,685
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction 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
Part VIII · Statement of revenue $729,441 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $691,014$691,014
VIII-3 Investment incomeRelated to mission $22,151$22,151
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $16,276$16,276
VIII-12 Total revenueRelated to mission $729,441$729,441
Part IX · Statement of functional expenses $685,756 across 9 lines filed
IX-7 Other salaries and wagesManagement $222,675$222,675
IX-9 Other employee benefitsManagement $9,651$9,651
IX-10 Payroll taxesManagement $17,253$17,253
IX-13 Office expensesManagement $142,055$142,055
IX-16 OccupancyManagement $49,992$49,992
IX-19 Conferences, conventions and meetingsManagement $1,600$1,600
IX-20 InterestManagement $24,159$24,159
IX-24 Other expenses (24a–d)Management $204,691$204,691
IX-24e All other expensesManagement $13,680$13,680
IX-25 Total functional expensesPrograms $0 · Management $685,756 · Fundraising $0$685,756
Part X · Balance sheet $12,043,351 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $952,369$2,827,283
X-2 Savings and temporary cash investmentsStart of year $1,294,000$498,000
X-4 Accounts receivableStart of year $8,229,806$7,500,637
X-9 Prepaid expenses and deferred chargesStart of year $96,404$88,342
X-10c Land, buildings and equipment, netStart of year $932,077$918,276
X-12 Other securitiesStart of year $85,603$85,603
X-15 Other assetsStart of year $122,091$125,210
X-16 Total assetsStart of year $11,712,350$12,043,351
X-17 Accounts payable and accrued expensesStart of year $419−$201,423
X-25 Other liabilitiesStart of year $10,804,714$11,293,872
X-26 Total liabilitiesStart of year $10,805,133$11,092,449
X-32 Total net assets or fund balancesStart of year $907,217$950,902
X-33 Total liabilities and net assetsStart of year $11,712,350$12,043,351
Part XI · Reconciliation of net assets $950,902 net assets at year end
XI-1 Total revenue$729,441
XI-2 Total expenses$685,756
XI-3 Revenue less expenses$43,685
XI-4 Net assets at start of year$907,217
XI-10 Net assets at end of year$950,902

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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