SOUTHEAST FINANCIAL CREDIT UNION C/O ADAM TOUNGETTE

EIN: 620382058

FRANKLIN, TN

Total Revenue
$29,260,817
Total Expenses
$28,332,559
Total Assets
$474,047,510
Net Assets
$34,650,053
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
TN
Principal Officer
ADAM TOUNGETTE
Phone
6157433700
Tax Period
2023-01-01 to 2023-12-31

SOUTHEAST FINANCIAL CREDIT UNION C/O ADAM TOUNGETTE, founded in 1936, is a mid-sized nonprofit that reported $29.3M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $28.3M left a modest 3% surplus.

Mission

PROVIDE FINANCIAL SERVICES FOR APPROXIMATELY 39,823 MEMBERS IN THE FORM OF LOANS, SAVINGS ACCOUNTS, SHARE CERTIFICATES AND OTHER FINANCIAL SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $22,256,999
Investment Income $1,321,503
Other Revenue $5,682,315
TOTAL REVENUE $29,260,817

Expense Breakdown

Grants Paid $0
Salaries & Benefits $12,055,203
Fundraising Expenses $0
Other Expenses $16,277,356
TOTAL EXPENSES $28,332,559

Year-over-Year Comparison

2023 2022 Change
Revenue $29,260,817 $24,888,572 +0.2%
Expenses $28,332,559 $23,487,341 +0.2%
Net Income $928,258 $1,401,231 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
169
Volunteers
11

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$1,895,810
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CLEO DUCKWORTH CHAIR, BOARD MEMBER 1.00
Director
$0 $0 $0
BEVERLY A HICKS BOARD MEMBER 1.00
Director
$0 $0 $0
KELSIE JONES BOARD MEMBER 1.00
Director
$0 $0 $0
SCARLET SNEED BOARD MEMBER 1.00
Director
$0 $0 $0
BILLY HATMAKER BOARD MEMBER 1.00
Director
$0 $0 $0
WALTER COSTNER BOARD MEMBER 1.00
Director
$0 $0 $0
TROY CRAWFORD BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT HALE AUDIT COMMITTEE 1.00
Director
$0 $0 $0
JILL ARNOLD CREDIT APPEALS COMMITTEE 1.00
Director
$0 $0 $0
VINCE MALONE AUDIT COMMITTEE 1.00
Director
$0 $0 $0
JEFF DAHLSTROM PRESIDENT 40.00
Officer
$591,329 $33,685 $625,014
JOHN JACOWAY CEO 40.00
Officer
$604,624 $28,601 $633,225
KELLY KEENAN COO 40.00
Officer
$205,046 $20,894 $225,940
RONNIE MILLER CAO 40.00
Officer
$177,466 $23,720 $201,186
DAVID KELLEY CLO 40.00
Officer
$191,087 $19,358 $210,445
KENDRICK COULTHARD PRESIDENT OF MFS 40.00
Highest
$211,404 $33,309 $244,713
LEIGH GLOVER MFS REP 40.00
Highest
$183,660 $19,337 $202,997
SUSAN HAMILTON VP, COMPLIANCE AND TRAININ 40.00
Highest
$131,902 $21,526 $153,428
LELAH HILL VP, HUMAN RESOURCES 40.00
Highest
$173,014 $18,308 $191,322
DAVID HARLAN MFS REP 40.00
Highest
$138,797 $17,290 $156,087
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $29,260,817 $28,332,559 $474,047,510 $928,258
2022 $24,888,572 $23,487,341 $454,815,364 $1,401,231
2021 $24,675,556 $22,216,703 $457,364,506 $2,458,853
2020 $23,885,264 $23,908,336 $416,742,002 $-23,072
2019 $24,996,970 $23,033,507 $382,302,574 $1,963,463
2018 $24,005,233 $22,939,369 $368,449,082 $1,065,864
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