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Landmark Credit Union

Fairfield, ALUnknown exempt organization EIN 63-0207455Revenue $2.1M in FY2020

On file with the IRSlandmarkcu.net5705 Valley Road · Fairfield, AL

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To provide financial services to our members.

Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Pay to officers and key staff
$327K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
Spent
$3.2M
Net assets
$0

From the FY2020 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Who runs it and what they're paid

8 people listed on the 990; $327K paid to officers and key staff.

Part VII, Section A · reportable compensation
Dow Hill
President/CEO
$153,243Pt VII · Sec A
$95,684Pt VII · Sec A
Ron Chatham
VP Lending
$77,818Pt VII · Sec A
Tim Bailey
Director
$0Pt VII · Sec A
Carl Kantor
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Hal Ferrell
Director
$0Pt VII · Sec A
Henry Piasky
Chairman
$0Pt VII · Sec A
See Landmark 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

Programs and updates

Offers financial services to its members.

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Provided by the organization

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2 programs · in their own filed words · FY2020
01

In efforts to promote thrift among our members, landmark provides competitive savings products, which include savings, checking, and certificate of deposit accounts as well as ira savings accounts.

Pt IX · col B
02

To meet the financial needs of our members, landmark provides a source of credit by offering a variety of consumer, real estate, and business lending products at reasonable rates of interest.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$157K
Money outPt IX
$3.2M
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A3
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.9M
Investment incomeLn 3$157K
Gains on assetsLn 7$37K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
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 FY20End FY20
Cash and savingsLn 1–2$4.2M$0
InvestmentsLn 11–13$5.3M$0
Land, buildings, equipmentLn 10c$1.5M$0
Total assetsLn 16$39.6M$0
LiabilitiesLn 26$34.7M$0
Net assetsLn 32$4.8M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$447K
Other salaries and wagesLn 7$385K
Pension plan contributionsLn 8$151K
Other employee benefitsLn 9$179K
Payroll taxesLn 10$52K
Legal feesLn 11b$3K
Accounting feesLn 11c$12K
Other fees for servicesLn 11g$115K
Advertising and promotionLn 12$28K
Office expensesLn 13$185K
Information technologyLn 14$709K
OccupancyLn 16$132K
TravelLn 17$14K
Conferences, conventions and meetingsLn 19$25K
InterestLn 20$342K
Depreciation, depletion and amortizationLn 22$92K
InsuranceLn 23$42K
Other expenses (24a–d)Ln 24$269K
All other expensesLn 24e$20K
Total functional expensesLn 25$3.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $2.1M$3.2M−$1.1M$0 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $2,082,933 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,123,791$1,926,928
I-10 Investment incomePrior year $145,339$156,832
I-11 Other revenuePrior year $39,155−$827
I-12 Total revenuePrior year $2,308,285$2,082,933
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,064,330$1,213,327
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,467,039$1,988,631
I-18 Total expensesPrior year $2,531,369$3,201,958
I-19 Revenue less expensesPrior year −$223,084−$1,119,025
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $2,082,933 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,906,234 · Unrelated business $20,694$1,926,928
VIII-3 Investment incomeExcluded from tax $119,362$119,362
VIII-7 Net gain or loss on sales of assetsExcluded from tax $37,470$37,470
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$827−$827
VIII-12 Total revenueRelated to mission $1,906,234 · Unrelated business $20,694 · Excluded from tax $156,005$2,082,933
Part IX · Statement of functional expenses $3,201,958 across 19 lines filed
IX-5 Pay of current officers, directors and key staff$447,330
IX-7 Other salaries and wages$384,693
IX-8 Pension plan contributions$150,960
IX-9 Other employee benefits$178,536
IX-10 Payroll taxes$51,808
IX-11b Legal fees$3,192
IX-11c Accounting fees$12,250
IX-11g Other fees for services$115,221
IX-12 Advertising and promotion$28,388
IX-13 Office expenses$184,582
IX-14 Information technology$709,332
IX-16 Occupancy$131,744
IX-17 Travel$13,804
IX-19 Conferences, conventions and meetings$25,064
IX-20 Interest$341,786
IX-22 Depreciation, depletion and amortization$91,888
IX-23 Insurance$42,439
IX-24 Other expenses (24a–d)$269,090
IX-24e All other expenses$19,851
IX-25 Total functional expenses$3,201,958
Part X · Balance sheet $0 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,155,834$0
X-2 Savings and temporary cash investmentsStart of year $3,077,319$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $692,989$0
X-10c Land, buildings and equipment, netStart of year $1,528,896$0
X-11 Publicly traded securitiesStart of year $5,253,473$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $1,028,656$0
X-16 Total assetsStart of year $39,566,897$0
X-17 Accounts payable and accrued expensesStart of year $186,706$0
X-25 Other liabilitiesStart of year $34,440,548$0
X-26 Total liabilitiesStart of year $34,741,135$0
X-32 Total net assets or fund balancesStart of year $4,825,762$0
X-33 Total liabilities and net assetsStart of year $39,566,897$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,082,933
XI-2 Total expenses$3,201,958
XI-3 Revenue less expenses−$1,119,025
XI-4 Net assets at start of year$4,825,762
XI-9 Other changes in net assets−$3,706,737
XI-10 Net assets at end of year$0

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

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