Nonprofit · EIN 63-0767402
NEW HORIZONS CREDIT UNION
Tax-exempt · MOBILE, AL 36609
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $14,814,009 | $13,681,094 | $1,132,915 | $269,374,333 | $244,703,112 | $24,671,221 |
| December 31, 2023 | 990 | $12,701,326 | $11,292,377 | $1,408,949 | $276,297,322 | $255,381,590 | $20,915,732 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $13,159,202
- Investment income
- $1,654,807
- Net gain from sales of assets
- $51,583
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $281,986
- Other salaries and wages
- $3,719,950
- Salaries, compensation and benefits (total)
- $5,390,116
- Professional fundraising fees
- $0
- Legal fees
- $23,389
- Accounting fees
- $66,000
- Occupancy
- $479,204
- Travel
- $128,933
- Depreciation
- $455,500
Balance sheet and other
- Total assets, start of year
- $276,297,322
- Total assets, end of year
- $269,374,333
- Total liabilities, end of year
- $244,703,112
- Net assets, end of year
- $24,671,221
- Land, buildings and equipment
- $11,753,046
- Publicly traded securities
- $50,953,325
- Gross receipts
- $15,213,675
- Employees
- 102
- Volunteers
- 10
- Year formed
- 1950
- 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 |
|---|---|---|---|---|
| EDITH FRANKLIN | PRESIDENT/ CEO Officer | 40 | $246,752 | $35,233 |
| LINDA BROWN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEANNA FERGUSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| SCOTT HUVAL | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LUVENIA SPOTWOOD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOE MILLS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RALPH ALTICE | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LARRY LANDRUM | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| EDITH FRANKLIN | PRESIDENT/ CEO Officer | 40 | $195,011 | $92,583 |
| LINDA BROWN | CHAIRPERSON Trustee or director, Officer | 1 | $0 | $0 |
| DEANNA FERGUSON | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| SCOTT HUVAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DELORIS BAGSBY | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JOE MILLS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RALPH ALTICE | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LARRY LANDRUM | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 622 AZALEA RD, MOBILE, AL 36609-1530
- In care of
- % EDITH FRANKLIN
- Principal officer (990 for 2024)
- EDITH G FRANKLIN, 622 AZALEA ROAD, MOBILE, AL 36609
- Signed the 990
- EDITH G FRANKLIN, PRESIDENT/CEO
- Phone
- (251) 316-3240
- Website
- WWW.NEWHCU.ORG
- Return prepared by
- WARREN AVERETT LLC
Mission
THE CREDIT UNION'S MISSION IS TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT LEGITIMATE RATES OF INTEREST. THE CREDIT UNION SERVES MEMBERS IN MOBILE, BALDWIN, AND CLARK COUNTIES IN ALABAMA. THE TOTAL NUMBER OF MEMBERS IS IN EXCESS OF 22,302.
Program accomplishments
- IN OUR EFFORTS TO PROMOTE THRIFT AMONG OUR MEMBERS, THE CREDIT UNION PROVIDES COMPETITIVE SAVINGS PRODUCTS, WHICH INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE OF DEPOSIT ACCOUNTS AS WELL AS IRA SAVINGS AND CERTIFICATE OF DEPOSIT ACCOUNTS.
- TO MEET THE FINANCIAL NEEDS OF OUR MEMBERS, THE CREDIT UNION PROVIDES A SOURCE OF CREDIT BY OFFERING A VARIETY OF CONSUMER AND MORTGAGE LENDING PRODUCTS AT REASONABLE RATES OF INTEREST.
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
- 63-0767402
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1972
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1422: ALABAMA CREDIT UNION ADMINISTRATION
- Assets (IRS master file)
- $269,374,333
- Income (IRS master file)
- $15,213,675
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $14,814,009 | $13,681,094 | $269,374,333 | XML |
| 990 | December 2023 | $12,701,326 | $11,292,377 | $276,297,322 | XML |
| 990 | December 2022 | $11,191,194 | $9,043,007 | $254,296,343 | 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 63-0767402).
Questions about NEW HORIZONS CREDIT UNION
- What is the EIN of NEW HORIZONS CREDIT UNION?
- The employer identification number (EIN) of NEW HORIZONS CREDIT UNION is 63-0767402.
- Is NEW HORIZONS CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1972.
- Are donations to NEW HORIZONS CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NEW HORIZONS 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 NEW HORIZONS 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 NEW HORIZONS 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 NEW HORIZONS CREDIT UNION?
- The 990 for the year ended December 31, 2024 names EDITH G FRANKLIN.
- Who are the officers and directors of NEW HORIZONS CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 8 people; 1 received compensation from the organization, the highest $246,752 (EDITH FRANKLIN, PRESIDENT/ CEO).
- How much revenue does NEW HORIZONS CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $14,814,009, expenses of $13,681,094 and total assets of $269,374,333 at year end.
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