Nonprofit · EIN 56-6077585
MCDOWELL CORNERSTONE CREDIT UNION
Tax-exempt · MARION, NC 28752
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,940,603 | $1,490,237 | $450,366 | $37,502,296 | $30,970,836 | $6,531,460 |
| December 31, 2024 | 990 | $1,584,217 | $1,157,254 | $426,963 | $36,124,582 | $30,043,488 | $6,081,094 |
| December 31, 2023 | 990 | $1,351,692 | $1,251,692 | $100,000 | $34,358,435 | $28,704,304 | $5,654,131 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,486,321
- Investment income
- $454,282
- Net gain from sales of assets
- $49,172
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $419,976
- Salaries, compensation and benefits (total)
- $536,547
- Professional fundraising fees
- $0
- Occupancy
- $81,865
- Travel
- $18,277
Balance sheet and other
- Total assets, start of year
- $36,124,582
- Total assets, end of year
- $37,502,296
- Total liabilities, end of year
- $30,970,836
- Net assets, end of year
- $6,531,460
- Land, buildings and equipment
- $162,887
- Gross receipts
- $1,940,603
- Employees
- 7
- Volunteers
- 11
- Year formed
- 1967
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MIKA ELLIOTT | Director Trustee or director | 0.75 | $0 |
| SYLVIA SCOTT | Director Trustee or director | 0.75 | $0 |
| Stephen Ward | Chairman Supervisory Committee Trustee or director | 0.75 | $0 |
| Faye Marlowe | Director Trustee or director | 0.75 | $0 |
| Brenda Vaughn | Director, Supervisory Committee Trustee or director | 0.75 | $0 |
| Ron Wilkerson | Credit Committee Chairperson Trustee or director | 0.75 | $0 |
| PAT ESTES | Vice Pres BOD Trustee or director | 0.75 | $0 |
| LISA MORGAN | President BOD Trustee or director | 0.75 | $0 |
| Judy W Thompson | Treas BOD Trustee or director | 0.75 | $0 |
| Laura Salas Bonilla | Superviaory Committee Mbr Trustee or director | 0.75 | $0 |
990 for the year ended December 31, 2024: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MIKA ELLIOTT | Director Trustee or director | 0.75 | $0 |
| SYLVIA SCOTT | Director Trustee or director | 0.75 | $0 |
| Stephen Ward | Chairman Supervisory Committee Trustee or director | 0.75 | $0 |
| Faye Marlowe | Sec Supervisory Committee Trustee or director | 0.75 | $0 |
| Brenda Vaughn | Director, Supervisory Committee Trustee or director | 0.75 | $0 |
| Ron Wilkerson | Credit Committee Trustee or director | 0.75 | $0 |
| PAT ESTES | Vice Pres BOD/ CREDIT COMM MBR Officer | 0.75 | $0 |
| LISA MORGAN | President BOD Officer | 0.75 | $0 |
| Judy W Thompson | Treas BOD Officer | 0.75 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Amy B Johnson | CEO Key employee, Highest-paid employee | 40 | $86,000 |
| Tim Keene | CEO Key employee, Highest-paid employee | 40 | $86,000 |
| PAT ESTES | Vice Pres BOD/ CREDIT COMM MBR Trustee or director | 0 | $0 |
| LISA MORGAN | President BOD Trustee or director | 0 | $0 |
| Judy W Thompson | Treas BOD Trustee or director | 0 | $0 |
| MIKA ELLIOTT | Director Trustee or director | 0 | $0 |
| SYLVIA SCOTT | Director Trustee or director | 0 | $0 |
| Stephen Ward | Chairman Supervisory Committee Trustee or director | 0 | $0 |
| Faye Marlowe | Sec Supervisory Committee Trustee or director | 0 | $0 |
| Brenda Vaughn | Director, Supervisory Committee Trustee or director | 0 | $0 |
| Ron Wilkerson | Credit Committee Trustee or director | 0 | $0 |
| Mike Bryant | Credit Committee Trustee or director | 0 | $0 |
| Robert Brendle | Director Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 519, MARION, NC 28752-0519
- In care of
- % AMY JOHNSON
- Principal officer (990 for 2025)
- JUDY W THOMPSON TREASURER, PO BOX 519, MARION, NC 28752
- Signed the 990
- Chris Edwards, Accounting
- Phone
- (828) 652-4141
- Website
- www.mcdowellcornerstone.com
Mission
To provide financial services to members at reasonable rates and pay reasonable dividends on savings deposits
Program accomplishments
- Total Members 2670 Total Shares $30,355,263 Total Loan Amount $22,541,087
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-6077585
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1969
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 2032: STATE CHARTERED CREDIT UNIONS IN NORTH CAROLINA
- Assets (IRS master file)
- $37,502,296
- Income (IRS master file)
- $1,940,603
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,940,603 | $1,490,237 | $37,502,296 | XML |
| 990 | December 2024 | $1,584,217 | $1,157,254 | $36,124,582 | XML |
| 990 | December 2023 | $1,351,692 | $1,251,692 | $34,358,435 | XML |
| 990 | December 2022 | $941,300 | $821,846 | $35,988,937 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-6077585).
Questions about MCDOWELL CORNERSTONE CREDIT UNION
- What is the EIN of MCDOWELL CORNERSTONE CREDIT UNION?
- The employer identification number (EIN) of MCDOWELL CORNERSTONE CREDIT UNION is 56-6077585.
- Is MCDOWELL CORNERSTONE CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1969.
- Are donations to MCDOWELL CORNERSTONE CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MCDOWELL CORNERSTONE CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MCDOWELL CORNERSTONE CREDIT UNION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MCDOWELL CORNERSTONE CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MCDOWELL CORNERSTONE CREDIT UNION?
- The 990 for the year ended December 31, 2025 names JUDY W THOMPSON TREASURER.
- Who are the officers and directors of MCDOWELL CORNERSTONE CREDIT UNION?
- The 990 for the year ended December 31, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does MCDOWELL CORNERSTONE CREDIT UNION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,940,603, expenses of $1,490,237 and total assets of $37,502,296 at year end.
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