KOIN CREDIT UNION

EIN: 626041064

BRENTWOOD, TN

Total Revenue
$1,445,218
Total Expenses
$1,812,740
Total Assets
$38,532,997
Net Assets
$3,526,869
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1954
Legal Domicile
TN
Principal Officer
ERIK HEARN
Phone
6152512089
Tax Period
2023-01-01 to 2023-12-31

KOIN CREDIT UNION, founded in 1954, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $1.8M exceeded revenue, resulting in a 25% operating deficit.

Mission

THE PURPOSES OF THIS CREDIT UNION SHALL BE TO PROMOTE GOOD ECONOMIC MANAGEMENT, TO ISSUE SHARES AND MAINTAIN ACCOUNTS, TO MAKE LOANS TO ITS MEMEBERS AT RESONABLE RATES OF INTEREST FOR PRUDENT PURPOSES, TO INVEST ANY SURPLUS NOT REQUIRED FOR LANS TO MEMEBERS IN THE WAY AND MANNER PROVIDED BY LAW, AND TO EXERCISE THOSE FUNCTIONS DESCRIBED IN THE LAWS OF THE STATE OF TENNESSEE AUTHORIZING THE ORGANZIATION OF CREDIT UNIONS.

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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 $1,030,844
Investment Income $280,083
Other Revenue $134,291
TOTAL REVENUE $1,445,218

Expense Breakdown

Grants Paid $0
Salaries & Benefits $653,265
Fundraising Expenses $0
Other Expenses $1,159,475
TOTAL EXPENSES $1,812,740

Year-over-Year Comparison

2023 2022 Change
Revenue $1,445,218 $1,203,640 +0.2%
Expenses $1,812,740 $1,654,806 +0.1%
Net Income $-367,522 $-451,166 -0.2%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
7
Employees
9
Volunteers
12

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
1
$142,277
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
OWEN JONES VICE CHAIRMAN 1.00
Director
$0 $0 $0
TRACY BROOKS SECRETARY 1.00
Director
$0 $0 $0
STEVE ACKLIN TREASURER 1.00
Director
$0 $0 $0
SHAWN TOBE BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE PUCKETT CHAIRMAN 1.00
Director
$0 $0 $0
SARA MOFIELD BOARD MEMBER 1.00
Director
$0 $0 $0
JANICE BELL BOARD MEMBER 1.00
Director
$0 $0 $0
SHAYNE GILPIN SUPERVISORY COMMITTEE 1.00
Director
$0 $0 $0
MICKIE MALHAM SUPERVISORY COMMITTEE 1.00
Director
$0 $0 $0
SHELBY SAWYER BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE NEILL BOARD MEMBER 1.00
Director
$0 $0 $0
JASON HENDERSON BOARD MEMBER 1.00
Director
$0 $0 $0
DOUG CLINTON CEO 40.00
Officer
$141,819 $458 $142,277
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 $1,445,218 $1,812,740 $38,532,997 $-367,522
2022 $1,203,640 $1,654,806 $42,251,248 $-451,166
2021 $1,242,004 $1,483,845 $47,682,396 $-241,841
2020 $1,626,571 $1,607,561 $47,267,745 $19,010
2019 $1,711,632 $1,653,056 $43,521,400 $58,576
2018 $1,605,788 $1,479,776 $43,679,291 $126,012
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