Old Hickory Credit Union

Nonprofit profile at a glance

EIN
626040210
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Nashville, TN, USA
Phone
6158474043
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$19,643,133
Expenses
$17,142,266
Assets
$334,277,821
Liabilities
$302,641,645

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • BONNETTE DAWSON (CEO)

Highest reported compensation

  • BONNETTE DAWSON (CEO): $331,962 total reported compensation
  • AMY HARRIS (CFO): $245,954 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provision of credit union services

What it reported doing in 2024

Credit union

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 67
  • Accountability: 86
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.7%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 19.5; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 25.3% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $332K · 11 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.