NORTH ALABAMA EDUCATORS CREDIT UNION Charity Report

Tax-exempt status may be revoked

NORTH ALABAMA EDUCATORS CREDIT UNION

EIN 63-6023153 · Credit Unions (W61)

What they do

CREDIT UNION - to PROVIDE SERVICES to APPROXIMATELY 10,859 MEMBERS IN THE FORM of LOANS, SAVINGS, and OTHER FINANCIAL SERVICES.

Before you give

Should I give to this charity?

Easy charity check

Stop and check first

This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2025The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders13 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

90.20%of revenue went to mission work100.0% of expenses · Program services

$90.20spent for every $100 of revenueRevenue covered expenses this year.

90.20%of revenue went to management and office costs100.0% of expenses

$24.47in assets for every $1 spent this yearSome assets cannot be spent right away.

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Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $172,650 for GREG OLMSTED (PRESIDENT/CE). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2025

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$6,309,677

Mission workProgram services$5,691,41990.20% of revenue100.0% of expenses

ManagementOffice and general costs$5,691,41990.20% of revenue100.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$618,2589.80% of revenueShown in gray on the chart

Total expenses$5,691,41990.20% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2025CurrentExpense mix: 100.0% mission · 100.0% management · 0.0% fundraisingTotal expenses: 90.20% of revenue

2024Expense mix: 100.0% mission · 100.0% management · 0.0% fundraisingTotal expenses: 96.40% of revenue

2023Expense mix: 100.0% mission · 100.0% management · 0.0% fundraisingTotal expenses: 90.77% of revenue

Money in and money out

Revenue$6,309,677

Expenses$5,691,419

Annual surplus $618,258 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$5,691,419 · 100.0% of expenses

Management and office costs$5,691,419 · 100.0% of expenses

See all reported dollar amounts

Revenue$6,309,677

Expenses$5,691,419

Assets$139,285,227

Income$6,309,677

Mission work (program services)$5,691,419

Management and general$5,691,419

People

Leadership and board

Tax year 2025

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

GREG OLMSTEDPRESIDENT/CE · 40 hrs/week $172,650Base $153,535 · Other $19,115

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (13)

GREG OLMSTEDPRESIDENT/CE

CAROLYN LOVE-RICESC CHAIR

FRANCES HARLESS-WOODSSC MEM

LARRY SHARPBOARD MEMBER

LEAH VALLELYBOARD MEMBER

MELVINA PHILLIPSBOARD MEMBER

MICHALE VANCEBOARD MEMBER

NATHAN L MILLERSC MEM

ROBERT LIPSCOMBBOARD TREASU

ROBERT WATSONBOARD MEMBER

ROSEMARY HODGESBOARD MEMBER

STEPHANIE BURTONBOARD MEMBER

WAYMON BURKEBOARD CHAIR

About this charity

Recognized since: January 2024
Location: PO BOX 128, HUNTSVILLE, AL 35804
County: Madison
In care of: GREG OLMSTED
Primary officer: GREG OLMSTED, PRESIDENT/CEO

How to reach them

WebsiteVisit the charity’s website Phone(256) 634-2423

Filing and classification

Latest tax year: 2025
Tax period began: January 1, 2025
Return type: 990
Tax preparer: CREDIT UNION AUDIT GROUP
NTEE classification: Credit Unions (W61)
IRS tax category: Credit Unions
Revocation date: May 15, 2016