Civic Intelligence

Reed Credit Union

990 • Fiscal year 2013 • EIN 74-0856365

Jan 01, 2013 to Dec 31, 2013 • Filed on May 08, 2014

Organization ProfileREEDCREDITUNION.COM

View Organization Page

10200 East Fwy 12577029

(713) 673-3333

Siviq Scores

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

Liabilities / Assets

48th percentile

0.87x

Higher debt load relative to assets than 48% of similar nonprofits.

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

Liabilities / Revenue

96th percentile

38.22x

Higher debt load relative to revenue than 96% of similar nonprofits.

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

Net Margin

24th percentile

-2.7%

Higher net margin than 24% of similar nonprofits.

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

Top Officer Pay

94th percentile

$123,115

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 27.0% of source-year revenue.

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

Asset Growth

5th percentile

-5.7%

Faster asset growth than 5% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets48th percentile

Assets

Down

$20,076,734

Down $1,205,475 (-5.7%) from 2012

Net Assets

Down

$2,673,417

Down $12,239 (-0.5%) from 2012

Liabilities

Down

$17,403,317

Down $1,193,236 (-6.4%) from 2012

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin24th percentile

Revenue

$455,288

No earlier filing loaded for comparison.

Expenses

Down

$467,527

Down $80,052 (-15%) from 2012

Net Income

-$12,239

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$30M$20M$10M$0Assets 2010: $20,957,191Liabilities 2010: $18,300,627Net Assets 2010: $2,656,5642010Assets 2011: $20,224,387Liabilities 2011: $17,548,176Net Assets 2011: $2,676,2112011Assets 2012: $21,282,209Liabilities 2012: $18,596,553Net Assets 2012: $2,685,6562012Assets 2013: $20,076,734Liabilities 2013: $17,403,317Net Assets 2013: $2,673,4172013Assets 2014: $19,424,737Liabilities 2014: $16,781,434Net Assets 2014: $2,643,3032014Assets 2015: $18,262,823Liabilities 2015: $15,678,901Net Assets 2015: $2,583,9222015Assets 2016: $16,543,826Liabilities 2016: $14,026,229Net Assets 2016: $2,517,5972016Assets 2017: $17,400,848Liabilities 2017: $14,923,425Net Assets 2017: $2,477,4232017Assets 2018: $16,783,534Liabilities 2018: $14,292,993Net Assets 2018: $2,490,5412018Assets 2019: $16,481,819Liabilities 2019: $13,962,109Net Assets 2019: $2,519,7102019Assets 2020: $17,060,379Liabilities 2020: $14,516,693Net Assets 2020: $2,543,6862020Assets 2021: $17,226,855Liabilities 2021: $14,680,993Net Assets 2021: $2,545,8622021Assets 2022: $16,760,716Liabilities 2022: $14,262,984Net Assets 2022: $2,497,7322022Assets 2023: $15,666,930Liabilities 2023: $13,112,350Net Assets 2023: $2,554,5802023Assets 2024: $16,169,567Liabilities 2024: $13,501,670Net Assets 2024: $2,667,8972024

Highlighted filing

2013

Assets$20,076,734
Liabilities$17,403,317
Net Assets$2,673,417
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2010: $785,1822010Expenses 2011: $581,2602011Expenses 2012: $547,5792012Revenue 2013: $455,288Expenses 2013: $467,527Net Income 2013: -$12,2392013Revenue 2014: $397,054Expenses 2014: $427,168Net Income 2014: -$30,1142014Revenue 2015: $365,989Expenses 2015: $425,370Net Income 2015: -$59,3812015Revenue 2016: $372,064Expenses 2016: $438,389Net Income 2016: -$66,3252016Revenue 2017: $376,970Expenses 2017: $417,144Net Income 2017: -$40,1742017Revenue 2018: $460,966Expenses 2018: $447,848Net Income 2018: $13,1182018Revenue 2019: $500,854Expenses 2019: $471,685Net Income 2019: $29,1692019Revenue 2020: $528,568Expenses 2020: $504,592Net Income 2020: $23,9762020Revenue 2021: $474,751Expenses 2021: $472,575Net Income 2021: $2,1762021Revenue 2022: $431,886Expenses 2022: $474,364Net Income 2022: -$42,4782022Revenue 2023: $597,885Expenses 2023: $541,037Net Income 2023: $56,8482023Revenue 2024: $726,339Expenses 2024: $613,022Net Income 2024: $113,3172024

Highlighted filing

2013

Revenue$455,288
Expenses$467,527
Net Income-$12,239
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 8, 2014
Return Version
2013v3.0
Gross Receipts
$455,288
Mission and Program Overview

Mission

Cooperative provider of credit union financial services

Reed credit union is a cooperative thrift institution

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$20,170,567$19,128,684▼ $1,041,883
Rtn Earn Endowment Incm Other Fnds$2,685,656$2,673,417▼ $12,239
Other Notes and Loans Receivable, Net$496,864$550,778▲ $53,914
Savings and Temporary Cash Investments$352,934$129,182▼ $223,752
Prepaid Expenses and Deferred Charges$21,797$37,829▲ $16,032
Cash and Non-Interest-Bearing Accounts$24,946$17,212▼ $7,734
Land, Buildings, and Equipment, Net$9,300$6,140▼ $3,160
Accounts Receivable$-709$2,198▲ $2,907
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$21,282,209$20,076,734▼ $1,205,475
Other Assets Total$206,510$204,711▼ $1,799
Liabilities
Other Liabilities$18,550,310$17,371,743▼ $1,178,567
Accounts Payable and Accrued Expenses$46,243$31,574▼ $14,669
Total Liabilities$18,596,553$17,403,317▼ $1,193,236
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,685,656$2,673,417▼ $12,239
Total Liabilities and Net Assets / Fund Balance$21,282,209$20,076,734▼ $1,205,475

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,140$0$6,140
Investment Program Related Org$21,960--
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dorothy HymanPresidentFT$108,675$14,440$123,115

Board Members and Trustees

NameTitle
Carlos UrestiChairman
Carl AlbaradoVice-president
Don HartmanDirector
Willie JonesDirector
Wilson SepulvadoDirector
Robert LivingstonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$67,500
Investment Income
$387,788
Other Revenue
$0
Change in Net Assets
$-12,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$263,947
Other Expenses$203,580
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$207,928
Office Expenses---$74,606
Interest---$51,805
Occupancy---$27,467
Other Employee Benefits---$22,241
Payroll Taxes---$16,898
Pension Plan Contributions---$16,880
Insurance---$13,764
Fees for Service Investment Mgmnt Fees---$7,745
All Other Expenses---$7,636
Travel---$7,276
Advertising---$4,610
Other Expenses---$2,619
Total Functional Expenses$0$0$0$467,527
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Accounts$17,371,743
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Reed credit union is owned by it members”

Form 990, Part VI, Section A, Line 7A

“Reed credit union elects its directors each year”

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

“A copy of 990 is provided to each member of reed credit unions governing body, after review and discussion the 990 is approved for filing”

Form 990, Part VI, Section B, Line 12C

“The governing body and key employees review reed credit unions conlict of interest policy annually and sign a statement of compliace”

Form 990, Part VI, Section C, Line 19

“Reed credit union makes its governing documents,financial statements and conflict of interest policy available to the public upon request. We notify our members two times a year in our newsletter that these documents are available. We also post this information on our website.”

Filing and Contact Details

Filer

EIN
74-0856365
Phone
7136733333

Signing Officer

Name
Dorothy Hyman
Title
President
Phone
7136732420
Signed
2014-05-08

Organization Details

Principal Officer
Dorothy Hyman
Formed
1935
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
0
Employees
6
Volunteers
6
Raw XML Appendix398 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/PYTotalExpensesAmt0547579
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0557024
IRS990/ReconcilationRevenueExpnssAmt0-12239
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02685656
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02673417
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0352934
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0129182
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt06140
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06140
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt04724
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt119102000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt221960
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0BONDS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1741
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2742
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017371743
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06140
IRS990ScheduleD/TotalBookValueProgramRltdAmt019128684
IRS990ScheduleD/TotalLiabilityAmt017371743
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REED CREDIT UNION IS OWNED BY IT MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REED CREDIT UNION ELECTS ITS DIRECTORS EACH YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF 990 IS PROVIDED TO EACH MEMBER OF REED CREDIT UNIONS GOVERNING BODY, AFTER REVIEW AND DISCUSSION THE 990 IS APPROVED FOR FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BODY AND KEY EMPLOYEES REVIEW REED CREDIT UNIONS CONLICT OF INTEREST POLICY ANNUALLY AND SIGN A STATEMENT OF COMPLIACE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REED CREDIT UNION MAKES ITS GOVERNING DOCUMENTS,FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. WE NOTIFY OUR MEMBERS TWO TIMES A YEAR IN OUR NEWSLETTER THAT THESE DOCUMENTS ARE AVAILABLE. WE ALSO POST THIS INFORMATION ON OUR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt021282209
IRS990/TotalAssetsEOYAmt020076734
IRS990/TotalAssetsGrp/BOYAmt021282209
IRS990/TotalAssetsGrp/EOYAmt020076734
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0467527
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018596553
IRS990/TotalLiabilitiesEOYAmt017403317
IRS990/TotalLiabilitiesGrp/BOYAmt018596553
IRS990/TotalLiabilitiesGrp/EOYAmt017403317
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02685656
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02673417
IRS990/TotalOtherCompensationAmt014440
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt067500
IRS990/TotalReportableCompFromOrgAmt0108675
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0455288
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0455288
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt021282209
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020076734
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt07276
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1010200 EAST FWY SUITE 125
IRS990/USAddress/City0HOUSTON
IRS990/USAddress/State0TX
IRS990/USAddress/ZIPCode077029
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0REEDCREDITUNION.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DOROTHY HYMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07136732420
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine10REED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0REED
ReturnHeader/Filer/EIN0740856365
ReturnHeader/Filer/PhoneNum07136733333
ReturnHeader/Filer/USAddress/AddressLine1010200 EAST FWY 125
ReturnHeader/Filer/USAddress/City0HOUSTON
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode077029
ReturnHeader/ReturnTs02014-05-12T11:34:38-07:00
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
$20,076,734
Liabilities
$17,403,317
Net assets
$2,673,417
Revenue
$455,288
Expenses
$467,527
Net income
-$12,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.2$13.5$2.67$0.73$0.61$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.7$13.1$2.55$0.60$0.54$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.8$14.3$2.50$0.43$0.47$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.2$14.7$2.55$0.47$0.47$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.1$14.5$2.54$0.53$0.50$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$14.0$2.52$0.50$0.47$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.8$14.3$2.49$0.46$0.45$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.4$14.9$2.48$0.38$0.42$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$14.0$2.52$0.37$0.44$0.07
2015Detailed filing. Detailed filing data is available for this year.$18.3$15.7$2.58$0.37$0.43$0.06
2014Detailed filing. Detailed filing data is available for this year.$19.4$16.8$2.64$0.40$0.43$0.03
2013Detailed filing. Detailed filing data is available for this year.$20.1$17.4$2.67$0.46$0.47$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.3$18.6$2.69$0.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.2$17.5$2.68$0.58
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.0$18.3$2.66$0.79
Peer Organizations

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