Nonprofit · EIN 63-0438963
LAUDERDALE COUNTY TEACHERS CREDIT UNION
Tax-exempt · FLORENCE, AL 35630
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,484,832 | $1,199,726 | $285,106 | $35,739,390 | $31,593,472 | $4,145,918 |
| December 31, 2023 | 990 | $1,104,401 | $885,457 | $218,944 | $36,428,586 | $32,567,774 | $3,860,812 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,484,832
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $101,649
- Other salaries and wages
- $181,488
- Salaries, compensation and benefits (total)
- $412,930
- Professional fundraising fees
- $0
- Legal fees
- $50
- Accounting fees
- $28,667
- Occupancy
- $40,097
- Travel
- $2,423
- Depreciation
- $29,120
Balance sheet and other
- Total assets, start of year
- $36,428,586
- Total assets, end of year
- $35,739,390
- Total liabilities, end of year
- $31,593,472
- Net assets, end of year
- $4,145,918
- Land, buildings and equipment
- $175,136
- Gross unrelated business income
- $4,588
- Gross receipts
- $1,484,832
- Employees
- 6
- Volunteers
- 11
- Year formed
- 1956
- State of legal domicile
- AL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHERRY FULKS | MANAGER Officer | 46 | $100,311 | $1,338 |
| ROBERT ALAN TRIMM | BOARD CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| BETTY FANNIN | BOARD TREASURER Trustee or director | 1 | $0 | $0 |
| FREDA COLEMAN-REED | BOARD VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| LIBBY JOHNSON | SUPERVISORY COMMITTEE SECR Trustee or director | 1 | $0 | $0 |
| ARTHUR REED | SUPERVISORY COMMITTEE MEMB Trustee or director | 1 | $0 | $0 |
| LINDA QUIGLEY | BOARD SECRETARY Trustee or director | 1 | $0 | $0 |
| WILLIAM RANDY FANNIN | SUPERVISORY COMMITTEE CHAI Trustee or director | 1 | $0 | $0 |
| PATRICIA NEAL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHERRY FULKS | MANAGER Officer | 46 | $97,296 | $1,482 |
| ROBERT ALAN TRIMM | BOARD CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| BETTY FANNIN | BOARD TREASURER Trustee or director | 1 | $0 | $0 |
| FREDA COLEMAN-REED | BOARD VICE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| LIBBY JOHNSON | SUPERVISORY COMMITTEE SECRETARY Trustee or director | 1 | $0 | $0 |
| ARTHUR REED | SUPERVISORY COMMITTEE MEMBER Trustee or director | 1 | $0 | $0 |
| LINDA QUIGLEY | BOARD SECRETARY Trustee or director | 1 | $0 | $0 |
| WILLIAM RANDY FANNIN | SUPERVISORY COMMITTEE CHAIRPERSON Trustee or director | 1 | $0 | $0 |
| PATRICIA NEAL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 103 MANGUM ST, FLORENCE, AL 35630-1559
- In care of
- % SHERRY FULKS
- Principal officer (990 for 2024)
- SHERRY FULKS, 103 MANGUM STREET, FLORENCE, AL 35630
- Signed the 990
- SHERRY FULKS, MANAGER
- Phone
- (256) 766-2936
- Website
- WWW.LCTCU.ORG
- Return prepared by
- PEARCE BEVILL LEESBURG MOORE PC
Mission
COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST.
Program accomplishments
- CODE OF ALABAMA, SEC 5-17-1, STATES THAT A CREDIT UNION IS A COOPERATIVE SOCIETY INCORPORATED FOR THE TWOFOLD PURPOSE OF PROMOTING THRIFT AMONG ITS MEMBERS AND CREATING A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. LAUDERDALE COUNTY TEACHERS CREDIT UNION, AN ALABAMA STATE CHARTERED CREDIT UNION, WAS ESTABLISHED TO PROVIDE THESE SERVICES PRIMARILY TO EMPLOYEES AND FAMILY MEMBERS OF THE LAUDERDALE COUNTY SCHOOL SYSTEM. AS OF DECEMBER 31, 2024, THE CREDIT UNION HAD MEMBERSHIP AND PROVIDED SERVICES TO APPROXIMATELY 2,077 MEMBERS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 63-0438963
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1941
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1422: ALABAMA CREDIT UNION ADMINISTRATION
- Assets (IRS master file)
- $35,739,390
- Income (IRS master file)
- $1,484,832
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,484,832 | $1,199,726 | $35,739,390 | IRS |
| 990 | December 2023 | $1,104,401 | $885,457 | $36,428,586 | XML |
| 990 | December 2022 | $830,860 | $724,355 | $36,517,673 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 63-0438963).
Questions about LAUDERDALE COUNTY TEACHERS CREDIT UNION
- What is the EIN of LAUDERDALE COUNTY TEACHERS CREDIT UNION?
- The employer identification number (EIN) of LAUDERDALE COUNTY TEACHERS CREDIT UNION is 63-0438963.
- Is LAUDERDALE COUNTY TEACHERS CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1941.
- Are donations to LAUDERDALE COUNTY TEACHERS CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LAUDERDALE COUNTY TEACHERS CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAUDERDALE COUNTY TEACHERS CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAUDERDALE COUNTY TEACHERS CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAUDERDALE COUNTY TEACHERS CREDIT UNION?
- The 990 for the year ended December 31, 2024 names SHERRY FULKS.
- Who are the officers and directors of LAUDERDALE COUNTY TEACHERS CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $100,311 (SHERRY FULKS, MANAGER).
- How much revenue does LAUDERDALE COUNTY TEACHERS CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,484,832, expenses of $1,199,726 and total assets of $35,739,390 at year end.
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