Civic Intelligence

Safe Credit Union

990 • Fiscal year 2015 • EIN 74-0504720

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

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

76th percentile

0.90x

Higher debt load relative to assets than 76% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

35th percentile

17.57x

Higher debt load relative to revenue than 35% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Net Margin

3rd percentile

-25%

Higher net margin than 3% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

17th percentile

$40,758

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2015

Asset Growth

54th percentile

3.6%

Faster asset growth than 54% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

53rd percentile

0.9%

Faster revenue growth than 53% of similar nonprofits.

2015 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$11,560,551

Up $397,974 (+3.6%) from 2014

Net Assets

Down

$1,124,786

Down $151,184 (-12%) from 2014

Liabilities

Up

$10,435,765

Up $549,158 (+5.6%) from 2014

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin3rd percentile

Revenue

Up

$594,037

Up $5,302 (+0.9%) from 2014

Expenses

Up

$745,221

Up $79,335 (+12%) from 2014

Net Income

Down

-$151,184

Down $74,033 (-96%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2015

Assets$11,560,551
Liabilities$10,435,765
Net Assets$1,124,786
Open 2015 Filing

Operations Trend

Revenue Growth53rd 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

2015

Revenue$594,037
Expenses$745,221
Net Income-$151,184
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.0
Gross Receipts
$594,687
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$5,224,739$4,880,677▼ $344,062
Savings and Temporary Cash Investments$3,004,000$3,812,000▲ $808,000
Cash and Non-Interest-Bearing Accounts$1,044,847$1,577,468▲ $532,621
Rtn Earn Endowment Incm Other Fnds$1,275,970$1,124,786▼ $151,184
Land, Buildings, and Equipment, Net$435,543$415,571▼ $19,972
Investments Other Securities$1,291,317$403,317▼ $888,000
Prepaid Expenses and Deferred Charges$88,709$70,155▼ $18,554
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$11,162,577$11,560,551▲ $397,974
Other Assets Total$73,422$401,363▲ $327,941
Liabilities
Other Liabilities$9,736,602$10,333,371▲ $596,769
Accounts Payable and Accrued Expenses$150,005$102,394▼ $47,611
Total Liabilities$9,886,607$10,435,765▲ $549,158
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,275,970$1,124,786▼ $151,184
Total Liabilities and Net Assets / Fund Balance$11,162,577$11,560,551▲ $397,974

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$248,703$202,402$451,105
Equipment$12,848$143,871$156,719
Land$154,020-$154,020
Other Securities$5,317--
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kay CarmonPresident & CEOFT$40,758$40,758

Board Members and Trustees

NameTitle
Georgine GuilloryChairman
Deborah ScrogginsVice Chair
Dolores SennetteDirector
Ed ClarkDirector
Elaine MooreDirector
Leroy HenryDirector
Gaylene GaspardSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$543,881
Investment Income
$35,136
Other Revenue
$15,020
Change in Net Assets
$-151,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$489,073
Salaries, Compensation, and Employee Benefits$256,148
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$154,976
Fees for Services Other---$114,768
Information Technology---$61,646
Occupancy---$46,028
Current Officers, Directors, Trustees, and Key Employees---$40,758
Office Expenses---$37,905
Other Employee Benefits---$36,062
Depreciation Depletion---$25,977
Insurance---$24,927
Interest---$17,578
Payroll Taxes---$16,619
Advertising---$13,548
Pension Plan Contributions---$7,733
Payments to Affiliates---$7,717
Travel---$6,311
Fees for Services Accounting---$4,540
Other Expenses---$4,201
Conferences and Meetings---$2,416
Fees for Services Legal---$1,676
All Other Expenses---$1,348
Total Functional Expenses$0$0$0$745,221
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$7,049,703
Member share draft accounts$2,274,123
Member certificates of deposit$1,009,545
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

Filer Name
SAFE Credit Union
EIN
74-0504720
Phone
4098992542
Address
2002 N 11th St, Beaumont, TX 77703

Signing Officer

Name
Kay Carmon
Title
President & CEO
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1931
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
10

Preparer

Firm
Wathen DeShong & Juncker LLP
Address
4140 Gladys Avenue Suite 101, Beaumont, TX 77706-3648
Preparer
Michael W Kiefer
Phone
4098381605
Raw XML Appendix391 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/TotalRevenueColumnAmt0259986
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1283895
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt03788
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 939 share draft accounts as of December 31, 2015. 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 449 new loans in 2015.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt033179
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0406235
IRS990/PYOtherRevenueAmt011567
IRS990/PYProgramServiceRevenueAmt0543989
IRS990/PYRevenuesLessExpensesAmt0-77151
IRS990/PYSalariesCompEmpBnftPaidAmt0259651
IRS990/PYTotalExpensesAmt0665886
IRS990/PYTotalRevenueAmt0588735
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-151184
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt02170
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt012838
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt012838
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01275970
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01124786
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03004000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03812000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0248703
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0202402
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0451105
IRS990ScheduleD/EquipmentGrp/BookValueAmt012848
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0143871
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0156719
IRS990ScheduleD/LandGrp/BookValueAmt0154020
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0154020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01009545
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17049703
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22274123
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member certificates of deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member share draft accounts
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05317
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Membership capital at corp credit unions
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0415571
IRS990ScheduleD/TotalLiabilityAmt010333371
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/TotalAssetsBOYAmt011162577
IRS990/TotalAssetsEOYAmt011560551
IRS990/TotalAssetsGrp/BOYAmt011162577
IRS990/TotalAssetsGrp/EOYAmt011560551
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0745221
IRS990/TotalGrossUBIAmt05958
IRS990/TotalLiabilitiesBOYAmt09886607
IRS990/TotalLiabilitiesEOYAmt010435765
IRS990/TotalLiabilitiesGrp/BOYAmt09886607
IRS990/TotalLiabilitiesGrp/EOYAmt010435765
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01275970
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01124786
IRS990/TotalProgramServiceRevenueAmt0543881
IRS990/TotalReportableCompFromOrgAmt040758
IRS990/TotalRevenueGrp/ExclusionAmt047986
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0540093
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0594037
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt05958
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011162577
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011560551
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt06311
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.safecubmt.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kay Carmon
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SAFE Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0SAFE
ReturnHeader/Filer/EIN0740504720
ReturnHeader/Filer/PhoneNum04098992542
ReturnHeader/Filer/USAddress/AddressLine1Txt02002 N 11th St
ReturnHeader/Filer/USAddress/CityNm0Beaumont
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077703
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Wathen DeShong & Juncker LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04140 Gladys Avenue Suite 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Beaumont
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0777063648
ReturnHeader/PreparerPersonGrp/PhoneNum04098381605
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Michael W Kiefer
ReturnHeader/ReturnTs02016-11-14T13:31:40-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,560,551
Liabilities
$10,435,765
Net assets
$1,124,786
Revenue
$594,037
Expenses
$745,221
Net income
-$151,184
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