Civic Intelligence

Safe Credit Union

990 • Fiscal year 2013 • EIN 74-0504720

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

Organization Profilewww.safecubmt.org

View Organization Page

2002 N 11th StBeaumont, TX 77703

(409) 899-2542

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.88x

Higher debt load relative to assets than 61% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

31st percentile

16.14x

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

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

24th percentile

-3.2%

Higher net margin than 24% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

60th percentile

$73,519

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 11.6% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

49th percentile

1.4%

Faster asset growth than 49% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

21st percentile

-9.6%

Faster revenue growth than 21% of similar nonprofits.

2013 filings • $10M-$25M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$11,578,521

Up $160,715 (+1.4%) from 2012

Net Assets

Down

$1,376,000

Down $20,121 (-1.4%) from 2012

Liabilities

Up

$10,202,521

Up $180,836 (+1.8%) from 2012

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin24th percentile

Revenue

Down

$632,158

Down $66,944 (-9.6%) from 2012

Expenses

Down

$652,279

Down $141,478 (-18%) from 2012

Net Income

Up

-$20,121

Up $74,534 (+79%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2010: $10,558,781Liabilities 2010: $8,949,010Net Assets 2010: $1,609,7712010Assets 2011: $10,779,066Liabilities 2011: $9,288,290Net Assets 2011: $1,490,7762011Assets 2012: $11,417,806Liabilities 2012: $10,021,685Net Assets 2012: $1,396,1212012Assets 2013: $11,578,521Liabilities 2013: $10,202,521Net Assets 2013: $1,376,0002013Assets 2014: $11,162,577Liabilities 2014: $9,886,607Net Assets 2014: $1,275,9702014Assets 2015: $11,560,551Liabilities 2015: $10,435,765Net Assets 2015: $1,124,7862015Assets 2016: $11,314,717Liabilities 2016: $10,206,847Net Assets 2016: $1,107,8702016Assets 2017: $11,433,549Liabilities 2017: $10,377,850Net Assets 2017: $1,055,6992017

Highlighted filing

2013

Assets$11,578,521
Liabilities$10,202,521
Net Assets$1,376,000
Open 2013 Filing

Operations Trend

Revenue Growth21st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $822,9172010Expenses 2011: $843,0872011Revenue 2012: $699,102Expenses 2012: $793,757Net Income 2012: -$94,6552012Revenue 2013: $632,158Expenses 2013: $652,279Net Income 2013: -$20,1212013Revenue 2014: $588,735Expenses 2014: $665,886Net Income 2014: -$77,1512014Revenue 2015: $594,037Expenses 2015: $745,221Net Income 2015: -$151,1842015Revenue 2016: $642,683Expenses 2016: $659,599Net Income 2016: -$16,9162016Revenue 2017: $608,043Expenses 2017: $660,214Net Income 2017: -$52,1712017

Highlighted filing

2013

Revenue$632,158
Expenses$652,279
Net Income-$20,121
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$633,358
Mission and Program Overview

Mission

SAFE Credit Union is a voluntary, cooperative, nonprofit financial institution established for the purposes of encouraging thrift among its members, creating a source of credit at fair and reasonable rates of interest, providing an opportunity for its members to use and control their own money in order to improve their economic and social conditions, and conducting any other business, engaging in any other activity, and providing any other service that may be of benefit to its members subject to the Texas Credit Union Act and Commission rules adopted thereunder.

Cooperative, nonprofit financial institution providing credit union financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$5,274,527$5,299,732▲ $25,205
Savings and Temporary Cash Investments$3,576,000$2,867,000▼ $709,000
Investments Other Securities$892,317$1,853,317▲ $961,000
Rtn Earn Endowment Incm Other Fnds$1,396,121$1,376,000▼ $20,121
Cash and Non-Interest-Bearing Accounts$1,075,107$671,021▼ $404,086
Land, Buildings, and Equipment, Net$452,740$454,358▲ $1,618
Prepaid Expenses and Deferred Charges$32,007$118,456▲ $86,449
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$11,417,806$11,578,521▲ $160,715
Other Assets Total$115,108$314,637▲ $199,529
Liabilities
Other Liabilities$9,938,027$9,941,872▲ $3,845
Accounts Payable and Accrued Expenses$83,658$260,649▲ $176,991
Total Liabilities$10,021,685$10,202,521▲ $180,836
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,396,121$1,376,000▼ $20,121
Total Liabilities and Net Assets / Fund Balance$11,417,806$11,578,521▲ $160,715

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$270,419$174,738$445,157
Equipment$29,919$132,774$162,693
Land$154,020-$154,020
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Margaret AdamsCEO/TreasurerFT$73,519$73,519
Terry BennettMember-$600$600
Leroy HenryMember-$550$550
Dolores SennetteChairman-$500$500
Deborah ScrogginsSecretary-$350$350
Bobby MockMember-$300$300
Georgine GuilloryMember-$300$300
Virval HolbrookVice chair-$250$250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$584,044
Investment Income
$36,516
Other Revenue
$11,598
Change in Net Assets
$-20,121
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$328,936
Salaries, Compensation, and Employee Benefits$323,343
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$176,004
Current Officers, Directors, Trustees, and Key Employees---$76,369
Information Technology---$68,470
Office Expenses---$57,876
Occupancy---$42,619
Other Employee Benefits---$40,666
Insurance---$27,699
Depreciation Depletion---$25,525
Fees for Services Other---$23,347
Payroll Taxes---$20,965
Interest---$20,118
Advertising---$11,033
Pension Plan Contributions---$9,339
Payments to Affiliates---$6,995
Other Expenses---$5,058
Travel---$3,927
Fees for Services Accounting---$2,700
Conferences and Meetings---$1,498
Fees for Services Legal---$822
Total Functional Expenses$0$0$0$652,279
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
Lobbying 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
Member share accounts$7,080,265
Member certificates of deposit$1,450,290
Member share draft accounts$1,411,317
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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, Line 11B: Form 990 Review Process

“A copy of the Form 990 is provided to each member of SAFE Credit Union's Board of Directors. Questions and comments are then submitted to the CEO for further discussion with the preparer and follow-up response back to the Board of Directors for final approval.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Officers and directors are required to file annual conflict of interest disclosure statements.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“SAFE Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
74-0504720
Phone
4098992542

Signing Officer

Name
Margaret Adams
Title
President & CEO
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
1931
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
6
Volunteers
12

Preparer

Preparer
Michael W Kiefer
Phone
4098381605
Raw XML Appendix387 raw XML fields

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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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt04532
IRS990/ProgSrvcAccomActy2Grp/Desc0SAFE Credit Union provides free share draft (checking) accounts to all members, business accounts, and limited free checks to senior citizens. The credit union had 923 share draft accounts as of December 31, 2013. Additionally, the credit union extends the reach of these accounts to all members with free debit and ATM cards, Internet account access, and the use of the automated phone teller.
IRS990/ProgSrvcAccomActy3Grp/Desc0SAFE Credit Union provides vehicle and other consumer loans. The consumer loan product line includes efficient underwriting and flexible offerings for recreational vehicles, boats, and motorcycles. Consumer credit life and disability insurance is available on any of these loan types. The credit union originated 933 new loans in 2013.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt039054
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0446690
IRS990/PYOtherRevenueAmt022013
IRS990/PYProgramServiceRevenueAmt0638035
IRS990/PYRevenuesLessExpensesAmt0-94655
IRS990/PYSalariesCompEmpBnftPaidAmt0347067
IRS990/PYTotalExpensesAmt0793757
IRS990/PYTotalRevenueAmt0699102
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-20121
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt01620
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt07644
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt07644
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01396121
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01376000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03576000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02867000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0270419
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0174738
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0445157
IRS990ScheduleD/EquipmentGrp/BookValueAmt029919
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0132774
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0162693
IRS990ScheduleD/LandGrp/BookValueAmt0154020
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0154020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01450290
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17080265
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21411317
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member certificates of deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member share draft accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0454358
IRS990ScheduleD/TotalBookValueSecuritiesAmt01853317
IRS990ScheduleD/TotalLiabilityAmt09941872
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 is provided to each member of SAFE Credit Union's Board of Directors. Questions and comments are then submitted to the CEO for further discussion with the preparer and follow-up response back to the Board of Directors for final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Officers and directors are required to file annual conflict of interest disclosure statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SAFE Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011417806
IRS990/TotalAssetsEOYAmt011578521
IRS990/TotalAssetsGrp/BOYAmt011417806
IRS990/TotalAssetsGrp/EOYAmt011578521
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0652279
IRS990/TotalGrossUBIAmt06152
IRS990/TotalLiabilitiesBOYAmt010021685
IRS990/TotalLiabilitiesEOYAmt010202521
IRS990/TotalLiabilitiesGrp/BOYAmt010021685
IRS990/TotalLiabilitiesGrp/EOYAmt010202521
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01396121
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01376000
IRS990/TotalProgramServiceRevenueAmt0584044
IRS990/TotalReportableCompFromOrgAmt076369
IRS990/TotalRevenueGrp/ExclusionAmt046494
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0579512
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0632158
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt06152
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011417806
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011578521
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt03927
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.safecubmt.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Margaret Adams
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine10SAFE Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0SAFE
ReturnHeader/Filer/EIN0740504720
ReturnHeader/Filer/PhoneNum04098992542
ReturnHeader/Filer/USAddress/AddressLine102002 N 11th St
ReturnHeader/Filer/USAddress/City0Beaumont
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode077703
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Wathen DeShong & Juncker LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine104140 Gladys Avenue Suite 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Beaumont
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0777063648
ReturnHeader/PreparerPersonGrp/PhoneNum04098381605
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Michael W Kiefer
ReturnHeader/ReturnTs02014-11-17T13:09:54-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,578,521
Liabilities
$10,202,521
Net assets
$1,376,000
Revenue
$632,158
Expenses
$652,279
Net income
-$20,121
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$11.4$10.4$1.06$0.61$0.66$0.05
2016Detailed filing. Detailed filing data is available for this year.$11.3$10.2$1.11$0.64$0.66$0.02
2015Detailed filing. Detailed filing data is available for this year.$11.6$10.4$1.12$0.59$0.75$0.15
2014Detailed filing. Detailed filing data is available for this year.$11.2$9.89$1.28$0.59$0.67$0.08
2013Detailed filing. Detailed filing data is available for this year.$11.6$10.2$1.38$0.63$0.65$0.02
2012Summary only. Only limited summary data is available for this year.$11.4$10.0$1.40$0.70$0.79$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.29$1.49$0.84
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$8.95$1.61$0.82