Civic Intelligence

Bayport Credit Union

EIN 54-0314180 • 501(c)14 • Newport News, VA

Profile

To provide affordable financial services to its members including loan relationships depository services credit cards and internet banking at convenient locations by professionals who provide excellent service

One Bayport Way 350Newport News, VA 23606

www.bayportcu.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.90x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

7th percentile

11.52x

Higher debt load relative to revenue than 7% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

45th percentile

8.7%

Higher net margin than 45% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

2.1%

Faster asset growth than 43% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2022 to 2024

Revenue Growth

83rd percentile

27%

Faster revenue growth than 83% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2022 to 2024

Assets

Up

$2,383,985,109

Up $18,690,709 (+0.8%) from 2023

Liabilities

Up

$2,140,804,827

Up $3,279,997 (+0.2%) from 2023

Net Assets

Up

$243,180,282

Up $15,410,712 (+6.8%) from 2023

Revenue

Up

$185,859,609

Up $33,102,941 (+22%) from 2023

Expenses

Up

$169,659,562

Up $42,226,787 (+33%) from 2023

Net Income

Down

$16,200,047

Down $9,123,846 (-36%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0B$2.0B$1.0B$0Assets 2010: $1,132,057,755Liabilities 2010: $998,352,077Net Assets 2010: $133,705,6782010Assets 2011: $1,183,707,530Liabilities 2011: $1,038,973,243Net Assets 2011: $144,734,2872011Assets 2012: $1,276,511,990Liabilities 2012: $1,125,909,072Net Assets 2012: $150,602,9182012Assets 2013: $1,316,428,930Liabilities 2013: $1,155,241,888Net Assets 2013: $161,187,0422013Assets 2014: $1,347,600,330Liabilities 2014: $1,177,364,891Net Assets 2014: $170,235,4392014Assets 2015: $1,448,702,849Liabilities 2015: $1,279,780,921Net Assets 2015: $168,921,9282015Assets 2016: $1,518,674,578Liabilities 2016: $1,341,738,231Net Assets 2016: $176,936,3472016Assets 2017: $1,570,997,194Liabilities 2017: $1,383,879,005Net Assets 2017: $187,118,1892017Assets 2018: $1,617,282,372Liabilities 2018: $1,416,046,673Net Assets 2018: $201,235,6992018Assets 2019: $1,743,829,584Liabilities 2019: $1,544,206,190Net Assets 2019: $199,623,3942019Assets 2020: $1,992,413,687Liabilities 2020: $1,797,747,927Net Assets 2020: $194,665,7602020Assets 2021: $2,278,710,765Liabilities 2021: $2,066,085,502Net Assets 2021: $212,625,2632021Assets 2022: $2,286,817,396Liabilities 2022: $2,092,334,993Net Assets 2022: $194,482,4032022Assets 2023: $2,365,294,400Liabilities 2023: $2,137,524,830Net Assets 2023: $227,769,5702023Assets 2024: $2,383,985,109Liabilities 2024: $2,140,804,827Net Assets 2024: $243,180,2822024

Highlighted filing

2024

Assets$2,383,985,109
Liabilities$2,140,804,827
Net Assets$243,180,282

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0Expenses 2010: $67,229,3112010Expenses 2011: $59,868,7692011Expenses 2012: $57,530,7392012Revenue 2013: $68,125,672Expenses 2013: $59,258,891Net Income 2013: $8,866,7812013Revenue 2014: $68,756,188Expenses 2014: $62,093,497Net Income 2014: $6,662,6912014Revenue 2015: $71,755,685Expenses 2015: $65,936,505Net Income 2015: $5,819,1802015Revenue 2016: $77,221,912Expenses 2016: $71,486,095Net Income 2016: $5,735,8172016Revenue 2017: $82,498,378Expenses 2017: $75,221,435Net Income 2017: $7,276,9432017Revenue 2018: $93,291,014Expenses 2018: $82,600,313Net Income 2018: $10,690,7012018Revenue 2019: $96,742,019Expenses 2019: $84,042,731Net Income 2019: $12,699,2882019Revenue 2020: $95,027,195Expenses 2020: $91,742,438Net Income 2020: $3,284,7572020Revenue 2021: $100,083,823Expenses 2021: $95,290,480Net Income 2021: $4,793,3432021Revenue 2022: $114,363,682Expenses 2022: $99,781,444Net Income 2022: $14,582,2382022Revenue 2023: $152,756,668Expenses 2023: $127,432,775Net Income 2023: $25,323,8932023Revenue 2024: $185,859,609Expenses 2024: $169,659,562Net Income 2024: $16,200,0472024

Highlighted filing

2024

Revenue$185,859,609
Expenses$169,659,562
Net Income$16,200,047

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,384$2,141$243$186$170$16.2
2023Detailed filing. Detailed filing data is available for this year.$2,365$2,138$228$153$127$25.3
2022Detailed filing. Detailed filing data is available for this year.$2,287$2,092$194$114$99.8$14.6
2021Detailed filing. Detailed filing data is available for this year.$2,279$2,066$213$100$95.3$4.79
2020Detailed filing. Detailed filing data is available for this year.$1,992$1,798$195$95.0$91.7$3.28
2019Detailed filing. Detailed filing data is available for this year.$1,744$1,544$200$96.7$84.0$12.7
2018Detailed filing. Detailed filing data is available for this year.$1,617$1,416$201$93.3$82.6$10.7
2017Detailed filing. Detailed filing data is available for this year.$1,571$1,384$187$82.5$75.2$7.28
2016Detailed filing. Detailed filing data is available for this year.$1,519$1,342$177$77.2$71.5$5.74
2015Detailed filing. Detailed filing data is available for this year.$1,449$1,280$169$71.8$65.9$5.82
2014Detailed filing. Detailed filing data is available for this year.$1,348$1,177$170$68.8$62.1$6.66
2013Detailed filing. Detailed filing data is available for this year.$1,316$1,155$161$68.1$59.3$8.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,277$1,126$151$57.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,184$1,039$145$59.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,132$998$134$67.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$187,389,326
Mission and Program Overview

Mission

To provide affordable financial services to its members including loan relationships depository services credit cards and internet banking at convenient locations by professionals who provide excellent service

The credit union provided affordable loans to over 16,000 members during the year. Many of the individuals would not have been able to obtain such loans from other financial institutions. In addition, the credit union provided depository services to members providing branches, on-line banking, financial counseling services, home buying and retirement seminars, financial education, scholarships and numerous other related services. The credit union's membership consists of primarily individuals in the hampton roads area and includes many individuals generally not recruited for services at larger financial institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$402,855,282$309,924,868▼ $92,930,414
Rtn Earn Endowment Incm Other Fnds$227,769,570$243,180,282▲ $15,410,712
Land, Buildings, and Equipment, Net$57,253,686$59,444,389▲ $2,190,703
Cash and Non-Interest-Bearing Accounts$29,269,462$28,220,000▼ $1,049,462
Prepaid Expenses and Deferred Charges$5,620,642$3,828,435▼ $1,792,207
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,365,294,400$2,383,985,109▲ $18,690,709
Other Assets Total$1,870,295,328$1,982,567,417▲ $112,272,089
Liabilities
Other Liabilities$2,005,563,336$1,952,914,218▼ $52,649,118
Mortgage Notes Payable Secured by Investment Property$115,000,000$165,000,000▲ $50,000,000
Accounts Payable and Accrued Expenses$16,961,494$22,890,609▲ $5,929,115
Total Liabilities$2,137,524,830$2,140,804,827▲ $3,279,997
Net Assets / Fund Balance
Total Net Assets Fund Balance$227,769,570$243,180,282▲ $15,410,712
Total Liabilities and Net Assets / Fund Balance$2,365,294,400$2,383,985,109▲ $18,690,709

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$59,444,389$61,433,859$120,878,248
Other Assets Org$37,301,733--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James MearsPresident/CEOFT$496,833$93,734$590,567
Godfrey SmithExec VP/CFOFT$267,361$84,410$351,771
Jennifer CoyneExec VP/COOFT$265,243$76,083$341,326
Stanley LeicesterExecutive VPFT$198,041$13,870$298,968
Margaret TaylorInvestment AdvisorFT$44,756$325,805$269,634
Denise McrobertsChief Info OfficerFT$236,019$14,711$250,730
Susan FernaaysChief Exp OfficerFT$233,749$11,321$247,619
Ira WilliamsChief Retail OffFT$232,288$12,693$244,981
Nancy PorterVP MarketingFT$208,987$11,321$220,308
Tonya EdwardsVP Business BankinFT$205,414-$216,735

Board Members and Trustees

NameTitle
Maureen DavisChairman
Pamela J RoweVice Chairman
Suzanne M BeckstofferVice Chairman
Craig Holley JrDirector
Darlene GrahamDirector
Dinetta D HillDirector
Lemeshia SteeleDirector
Mary CullenDirector
Thomasina R WrightDirector
Ray C BagleyAsst Secretary
Jennifer M MillerSecretary/Treas

Highest Paid Contractors

ContractorServicesLocationCompensation
Cardtronics USA INCAtm Services14181 COLLECTIONS CENTER DR, Chicago, IL 60693$1,986,207
North River Construction LLCConstructionPO BOX 97, Ware Neck, VA 23178$1,707,808
Sirius Computer Solutions INCComputer ServicesPO BOX 202289, Dallas, TX 75320$983,372
Securitas Technology CorpSecurityPO BOX 643731, Pittsburg, PA 15264$686,517
Summs Skip & Collection ServiceCollection Service2616 QUALITY CT, Virginia Beach, VA 23454$679,299
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$166,878,903
Investment Income
$19,258,094
Other Revenue
$-277,388
Change in Net Assets
$16,200,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,166,907
Salaries, Compensation, and Employee Benefits$49,492,655
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$34,807,053
Other Expenses---$14,017,522
Other Employee Benefits---$12,833,336
Interest---$9,277,490
All Other Expenses---$7,335,387
Occupancy---$6,938,934
Current Officers, Directors, Trustees, and Key Employees---$1,852,266
Travel---$1,072,464
Total Functional Expenses$0$0$0$169,659,562
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Shares$608,051,836
Member Certificates$476,469,440
Regular Shares$408,921,327
Checking Shares$348,133,513
Business Shares$106,557,727
Other Liabilities$4,780,375
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The credit union gathers the information necessary to complete the return and forwards such information and any other information requested by its accounting firm to its accounting firm. Upon completion of the return, the credit union reviews the return and consults with accounting firm before filing.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Bayport Credit Union
EIN
54-0314180
Phone
7579288850
Address
ONE BAYPORT WAY 350, NEWPORT NEWS, VA 23606

Signing Officer

Name
G Lewis Smith
Title
VP/finance
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1928
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
11
Employees
640
Volunteers
16

Preparer

Firm
Boyce Spady & Moore Plc
Address
1013 W Washington Street, Suffolk, VA 23434
Preparer
Robert M Moore Jr
Phone
7575392953
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other comprehensive income/loss = -$789335

Statement Note 1

Bayport credit union respectfully files this tax return under protest.it is our position that all unrelated business income and expenses, as indicated in this tax return, is directly related to the exempt activities of the credit union. Accordingly, we disagree with the positions taken by the internal revenue service in 2007 technical advice memorandums, requiring the filing of form 990-t. These services support and enhance other financial services offered by the credit union to its members.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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