Civic Intelligence

Safe Credit Union

990 • Fiscal year 2016 • EIN 74-0504720

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

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

75th percentile

0.90x

Higher debt load relative to assets than 75% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

29th percentile

15.88x

Higher debt load relative to revenue than 29% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Net Margin

16th percentile

-2.6%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

44th percentile

$68,147

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2016

Asset Growth

17th percentile

-2.1%

Faster asset growth than 17% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

80th percentile

8.2%

Faster revenue growth than 80% of similar nonprofits.

2016 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$11,314,717

Down $245,834 (-2.1%) from 2015

Net Assets

Down

$1,107,870

Down $16,916 (-1.5%) from 2015

Liabilities

Down

$10,206,847

Down $228,918 (-2.2%) from 2015

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin16th percentile

Revenue

Up

$642,683

Up $48,646 (+8.2%) from 2015

Expenses

Down

$659,599

Down $85,622 (-11%) from 2015

Net Income

Up

-$16,916

Up $134,268 (+89%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2016

Assets$11,314,717
Liabilities$10,206,847
Net Assets$1,107,870
Open 2016 Filing

Operations Trend

Revenue Growth80th 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

2016

Revenue$642,683
Expenses$659,599
Net Income-$16,916
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$710,568
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$4,880,677$4,463,873▼ $416,804
Investments Other Securities$403,317$2,706,317▲ $2,303,000
Savings and Temporary Cash Investments$3,812,000$2,335,000▼ $1,477,000
Cash and Non-Interest-Bearing Accounts$1,577,468$1,299,793▼ $277,675
Rtn Earn Endowment Incm Other Fnds$1,124,786$1,107,870▼ $16,916
Land, Buildings, and Equipment, Net$415,571$330,475▼ $85,096
Prepaid Expenses and Deferred Charges$70,155$46,204▼ $23,951
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$11,560,551$11,314,717▼ $245,834
Other Assets Total$401,363$133,055▼ $268,308
Liabilities
Other Liabilities$10,333,371$10,081,457▼ $251,914
Accounts Payable and Accrued Expenses$102,394$125,390▲ $22,996
Total Liabilities$10,435,765$10,206,847▼ $228,918
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,124,786$1,107,870▼ $16,916
Total Liabilities and Net Assets / Fund Balance$11,560,551$11,314,717▼ $245,834

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$234,867$216,238$451,105
Equipment$8,488$150,947$159,435
Land$87,120-$87,120
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kay CarmonPresident & CEOFT$68,147$68,147

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$552,259
Investment Income
$54,018
Other Revenue
$36,406
Change in Net Assets
$-16,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$378,782
Salaries, Compensation, and Employee Benefits$280,817
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$155,791
Information Technology---$104,383
Fees for Services Other---$73,478
Current Officers, Directors, Trustees, and Key Employees---$68,147
Occupancy---$45,258
Office Expenses---$39,400
Other Employee Benefits---$30,477
Insurance---$25,418
Payroll Taxes---$22,490
Depreciation Depletion---$20,912
Interest---$17,674
Fees for Services Accounting---$7,753
Payments to Affiliates---$6,821
Advertising---$5,243
Travel---$5,198
Fees for Services Legal---$4,406
Pension Plan Contributions---$3,912
Other Expenses---$440
Conferences and Meetings---$48
All Other Expenses---$-3,770
Total Functional Expenses$0$0$0$659,599
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$7,043,497
Member share draft accounts$2,124,128
Member certificates of deposit$913,832
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
Shirley Molly Hand
Title
CEO
Signed
2017-11-14
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
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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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IRS990/PayrollTaxesGrp/TotalAmt022490
IRS990/PensionPlanContributionsGrp/TotalAmt03912
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt070155
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt046204
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/Desc0Fees & charges
IRS990/ProgramServiceRevenueGrp/Desc1Interest on loans
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0267044
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1284372
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0267887
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1284372
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0843
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 872 share draft accounts as of December 31, 2016. 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 506 new loans in 2016.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt035136
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0489073
IRS990/PYOtherRevenueAmt015020
IRS990/PYProgramServiceRevenueAmt0543881
IRS990/PYRevenuesLessExpensesAmt0-151184
IRS990/PYSalariesCompEmpBnftPaidAmt0256148
IRS990/PYTotalExpensesAmt0745221
IRS990/PYTotalRevenueAmt0594037
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-16916
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt0425
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt013338
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt013338
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01124786
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01107870
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03812000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02335000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0234867
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0216238
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0451105
IRS990ScheduleD/EquipmentGrp/BookValueAmt08488
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0150947
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0159435
IRS990ScheduleD/LandGrp/BookValueAmt087120
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt087120
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0913832
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17043497
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22124128
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member certificates of deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member share draft accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0330475
IRS990ScheduleD/TotalBookValueSecuritiesAmt02706317
IRS990ScheduleD/TotalLiabilityAmt010081457
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/TotalAssetsBOYAmt011560551
IRS990/TotalAssetsEOYAmt011314717
IRS990/TotalAssetsGrp/BOYAmt011560551
IRS990/TotalAssetsGrp/EOYAmt011314717
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0659599
IRS990/TotalGrossUBIAmt01268
IRS990/TotalLiabilitiesBOYAmt010435765
IRS990/TotalLiabilitiesEOYAmt010206847
IRS990/TotalLiabilitiesGrp/BOYAmt010435765
IRS990/TotalLiabilitiesGrp/EOYAmt010206847
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01124786
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01107870
IRS990/TotalProgramServiceRevenueAmt0552259
IRS990/TotalReportableCompFromOrgAmt068147
IRS990/TotalRevenueGrp/ExclusionAmt083839
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0557576
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0642683
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01268
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011560551
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011314717
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt05198
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/PersonNm0Shirley Molly Hand
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-14
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/ReturnTs02017-11-14T14:25:43-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,314,717
Liabilities
$10,206,847
Net assets
$1,107,870
Revenue
$642,683
Expenses
$659,599
Net income
-$16,916
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