Horizon Credit Union

Nonprofit profile at a glance

EIN
581508166
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Kingsport, TN, USA
Phone
4232299463
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,590,665
Expenses
$3,224,663
Assets
$60,034,579
Liabilities
$53,087,988

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • MARK DRINNON (COO): $144,019 total reported compensation
  • DIANA BAKER (CFO): $116,477 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote thrift, issue shares that maintain accounts, and to make loans to our members. Funds not needed currently for liquidity or for loans are temporarily invested.

What it reported doing in 2025

Horizon credit union is a state-charter credit union in which its members can deposit and borrow money. The organization promotes thrift, maintains accounts, and provides funding for members of the community. Horizon credit union serves to support individuals in their efforts to raise their families, buy homes and vehicles, build retirement plans, and achieve other financial goals.horizon credit union is the product of mergers between three long standing credit unions in kingsport, Tennessee. Municipal employees credit union began in 1932 and merged with kingsport post and federal credit union in april of 1999. A merger took place again in november 2014 with agc credit union. The new name change of horizon credit union became effective april 1, 2016 in order to reflect the organization's increased field of membership and direction of the credit union.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.2%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 18.62; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $144K · 9 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.