North Main Credit Union
EIN: 581354498 · Cornelia, GA · NTEE: W61
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $1.2M |
| Net Assets | $2.5M |
Is North Main Credit Union Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About North Main Credit Union
North Main Credit Union (EIN: 581354498) is a nonprofit organization based in Cornelia, GA, classified under NTEE code W61. The organization reported total revenue of $1.2M and total assets of $15.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Main Credit Union's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
North Main Credit Union is a mid-size nonprofit that has been operating for 25 years, with 9 years of IRS 990 filings on record (2011–2019). Revenue has grown at a compound annual rate of 7.3%.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$37K |
| Total Assets | $15.6M |
| Total Liabilities | $13.1M |
| Net Assets | $2.5M |
| Operating Margin | 3.1% |
| Debt-to-Asset Ratio | 84.1% |
| Months of Reserves | 162.4 months |
Financial Health Grade: A
In 2019, North Main Credit Union reported a surplus of $37K with revenue exceeding expenses, holds 162.4 months of operating reserves (strong position), has a debt-to-asset ratio of 84.1% (high leverage).
Financial Trends
Over 9 years of filings (2011–2019), North Main Credit Union's revenue has grown at a compound annual growth rate (CAGR) of 7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2019 | +19.8% | +18.9% | +5.8% |
| 2018 | +23.8% | +23.3% | +6.3% |
| 2017 | +16.5% | +14.5% | +7.6% |
| 2016 | +3.8% | +8.3% | +7.7% |
| 2015 | -5.6% | +1.5% | +7.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for North Main Credit Union has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates North Main Credit Union with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2019)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $37K, with revenue exceeding expenses.
- Debt-to-asset ratio: 84.1%.
Frequently Asked Questions about North Main Credit Union
Is North Main Credit Union a legitimate charity?
North Main Credit Union (EIN: 581354498) is a registered tax-exempt nonprofit based in Georgia. It has 9 years of IRS 990 filings on record. Total revenue: $1.2M. No red flags identified. Financial health grade: A.
How does North Main Credit Union spend its money?
North Main Credit Union reported $1.2M in total revenue in IRS 990 filings. 9 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to North Main Credit Union tax-deductible?
North Main Credit Union is registered as a tax-exempt nonprofit (EIN: 581354498). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is North Main Credit Union located?
North Main Credit Union is headquartered in Cornelia, Georgia and files with the IRS under EIN 581354498. It is classified under NTEE code W61.
How many years of IRS 990 filings does North Main Credit Union have?
North Main Credit Union has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Filing History
IRS 990 filing history for North Main Credit Union showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2019), North Main Credit Union's revenue has grown by 76.3%, moving from $675K to $1.2M. Total assets increased by 55% over the same period, from $10.1M to $15.6M. Total functional expenses rose by 103.4%, from $566K to $1.2M. In its most recent filing year (2019), North Main Credit Union reported a surplus of $37K, with revenue exceeding expenses. The organization holds $13.1M in liabilities against $15.6M in assets (debt-to-asset ratio: 84.1%), resulting in net assets of $2.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2019 | $1.2M | $1.2M | $15.6M | $13.1M | — | — |
| 2018 | $993K | $969K | $14.7M | $12.3M | — | View 990 |
| 2017 | $802K | $786K | $13.9M | $11.4M | — | View 990 |
| 2016 | $688K | $687K | $12.9M | $10.5M | — | View 990 |
| 2015 | $663K | $634K | $12.0M | $9.6M | — | View 990 |
| 2014 | $703K | $625K | $11.2M | $8.8M | — | View 990 |
| 2013 | $722K | $615K | $11.2M | $8.9M | — | View 990 |
| 2012 | $681K | $579K | $11.0M | $8.7M | — | View 990 |
| 2011 | $675K | $566K | $10.1M | $7.9M | — | View 990 |
Year-by-Year Financial Summary
- 2019: Revenue of $1.2M, expenses of $1.2M, and assets of $15.6M (revenue +19.8% year-over-year).
- 2018: Revenue of $993K, expenses of $969K, and assets of $14.7M (revenue +23.8% year-over-year).
- 2017: Revenue of $802K, expenses of $786K, and assets of $13.9M (revenue +16.5% year-over-year).
- 2016: Revenue of $688K, expenses of $687K, and assets of $12.9M (revenue +3.8% year-over-year).
- 2015: Revenue of $663K, expenses of $634K, and assets of $12.0M (revenue -5.6% year-over-year).
- 2014: Revenue of $703K, expenses of $625K, and assets of $11.2M (revenue -2.7% year-over-year).
- 2013: Revenue of $722K, expenses of $615K, and assets of $11.2M (revenue +6.1% year-over-year).
- 2012: Revenue of $681K, expenses of $579K, and assets of $11.0M (revenue +0.9% year-over-year).
- 2011: Revenue of $675K, expenses of $566K, and assets of $10.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for North Main Credit Union:
Data Sources and Methodology
This transparency report for North Main Credit Union is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.