Civic Intelligence

Reed Credit Union

990 • Fiscal year 2019 • EIN 74-0856365

Jan 01, 2019 to Dec 31, 2019 • Filed on May 07, 2020

10200 East Fwy Ste 125Houston, TX 77029

(713) 673-3333

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.85x

Higher debt load relative to assets than 43% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

27.88x

Higher debt load relative to revenue than 94% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Net Margin

31st percentile

5.8%

Higher net margin than 31% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

82nd percentile

$103,690

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 20.7% of source-year revenue.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2019

Asset Growth

27th percentile

-1.8%

Faster asset growth than 27% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

68th percentile

8.7%

Faster revenue growth than 68% of similar nonprofits.

2019 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$16,481,819

Down $301,715 (-1.8%) from 2018

Net Assets

Up

$2,519,710

Up $29,169 (+1.2%) from 2018

Liabilities

Down

$13,962,109

Down $330,884 (-2.3%) from 2018

Revenue

Up

$500,854

Up $39,888 (+8.7%) from 2018

Expenses

Up

$471,685

Up $23,837 (+5.3%) from 2018

Net Income

Up

$29,169

Up $16,051 (+122%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$16,481,819
Liabilities$13,962,109
Net Assets$2,519,710

Operations Trend

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

2019

Revenue$500,854
Expenses$471,685
Net Income$29,169
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 7, 2020
Return Version
2019v5.0
Gross Receipts
$500,854
Mission and Program Overview

Mission

Cooperative provider of credit union financial services

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$13,586,459$13,311,998▼ $274,461
Other Notes and Loans Receivable, Net$2,682,320$2,563,196▼ $119,124
Rtn Earn Endowment Incm Other Fnds$2,490,541$2,519,710▲ $29,169
Savings and Temporary Cash Investments$250,167$366,133▲ $115,966
Prepaid Expenses and Deferred Charges$53,961$46,311▼ $7,650
Cash and Non-Interest-Bearing Accounts$29,817$14,681▼ $15,136
Land, Buildings, and Equipment, Net$15,631$13,352▼ $2,279
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Accounts Receivable$-6,304$0▲ $6,304
Total Assets$16,783,534$16,481,819▼ $301,715
Other Assets Total$171,483$166,148▼ $5,335
Liabilities
Other Liabilities$14,260,772$13,920,692▼ $340,080
Accounts Payable and Accrued Expenses$32,221$41,417▲ $9,196
Total Liabilities$14,292,993$13,962,109▼ $330,884
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,490,541$2,519,710▲ $29,169
Total Liabilities and Net Assets / Fund Balance$16,783,534$16,481,819▼ $301,715

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,352$0$13,352
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

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dorothy HymanCEOFT$92,333$11,357$103,690

Board Members and Trustees

NameTitle
Wilson SepulvadoChairman
Larry DavisVice-chairman
Marcina GuevaraDirector
Richard LongtineDirector
Roger RatcliffDirector
Sheila BrashearSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$159,035
Investment Income
$341,819
Other Revenue
$0
Change in Net Assets
$29,169
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$239,608
Salaries, Compensation, and Employee Benefits$232,077
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---$165,436
Office Expenses---$85,198
Interest---$70,672
Other Employee Benefits---$37,960
Other Expenses---$32,928
Occupancy---$28,885
Payroll Taxes---$15,043
Pension Plan Contributions---$13,638
Travel---$5,805
All Other Expenses---$5,607
Fees for Service Investment Mgmnt Fees---$2,174
Advertising---$819
Total Functional Expenses$0$0$0$471,685
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
Share Accounts$13,920,692
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 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
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 its members

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

Reed credit elects its directors each year for a 3 year term

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

The 990 form is reviewed and approved by the reed credit union's govering body prior to filing

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

Directors certify with a signed statement annually a no conflict interest

Form 990, Part VI, Section C, Line 18

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

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Reed Credit Union
EIN
74-0856365
Phone
7136733333
Address
10200 EAST FWY STE 125, HOUSTON, TX 77029

Signing Officer

Name
Dorothy Hyman
Title
President
Phone
7136733333
Signed
2020-05-07

Organization Details

Principal Officer
Dorothy Hyman
Formed
1935
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
0
Employees
4
Volunteers
6
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 5

PAYROLL

Raw XML Appendix400 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/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02490541
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02519710
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0250167
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0366133
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt013352
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt013352
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01038
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt113289000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt221960
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0BONDS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2CCFCU
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/Amt013920692
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013352
IRS990ScheduleD/TotalBookValueProgramRltdAmt013311998
IRS990ScheduleD/TotalLiabilityAmt013920692
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REED CREDIT UNION IS OWNED BY ITS MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REED CREDIT ELECTS ITS DIRECTORS EACH YEAR FOR A 3 YEAR TERM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 FORM IS REVIEWED AND APPROVED BY THE REED CREDIT UNION'S GOVERING BODY PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS CERTIFY WITH A SIGNED STATEMENT ANNUALLY A NO CONFLICT INTEREST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REED CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. WE NOTIFY OUR MEMBERS TWO TIMES A YEAR THAT THESE DOCUMENTS ARE AVAILABLE ON REQUEST. WE POST THIS INFORMATION ON OUR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REED CREDIT UNION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLIC AVAILABLE TO THE PUBLIC UPON REQUEST. WE NOTIFY OUR MEMBERS TWO TIMES A YEAR THAT THESE DOCUMENTS ARE AVAILABLE ON REQUEST. WE POST THIS INFORMATION ON OUR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PAYROLL
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 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 5
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016783534
IRS990/TotalAssetsEOYAmt016481819
IRS990/TotalAssetsGrp/BOYAmt016783534
IRS990/TotalAssetsGrp/EOYAmt016481819
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0471685
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014292993
IRS990/TotalLiabilitiesEOYAmt013962109
IRS990/TotalLiabilitiesGrp/BOYAmt014292993
IRS990/TotalLiabilitiesGrp/EOYAmt013962109
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02490541
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02519710
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0159035
IRS990/TotalReportableCompFromOrgAmt092333
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0500854
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0500854
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016783534
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016481819
IRS990/TotReportableCompRltdOrgAmt011357
IRS990/TravelGrp/TotalAmt05805
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010200 EAST FREEWAY STE 125
IRS990/USAddress/CityNm0HOUSTON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077029
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0REEDCREDITUNION.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DOROTHY HYMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07136733333
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REED CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0REED
ReturnHeader/Filer/EIN0740856365
ReturnHeader/Filer/PhoneNum07136733333
ReturnHeader/Filer/USAddress/AddressLine1Txt010200 EAST FWY STE 125
ReturnHeader/Filer/USAddress/CityNm0HOUSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077029
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.211.242.90
ReturnHeader/ReturnTs02020-05-07T12:40:23-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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
2019Detailed filing. Detailed filing data is available for this year.$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

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)14 • $10M-$25M nonprofits