Civic Intelligence

Reed Credit Union

990 • Fiscal year 2020 • EIN 74-0856365

Jan 01, 2020 to Dec 31, 2020 • Filed on May 05, 2021

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

36th percentile

0.85x

Higher debt load relative to assets than 36% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

27.46x

Higher debt load relative to revenue than 79% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Net Margin

42nd percentile

4.5%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

83rd percentile

$101,681

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 19.2% of source-year revenue.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2020

Asset Growth

9th percentile

3.5%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

91st percentile

5.5%

Faster revenue growth than 91% of similar nonprofits.

2020 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$17,060,379

Up $578,560 (+3.5%) from 2019

Net Assets

Up

$2,543,686

Up $23,976 (+1.0%) from 2019

Liabilities

Up

$14,516,693

Up $554,584 (+4.0%) from 2019

Revenue

Up

$528,568

Up $27,714 (+5.5%) from 2019

Expenses

Up

$504,592

Up $32,907 (+7.0%) from 2019

Net Income

Down

$23,976

Down $5,193 (-18%) from 2019

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

2020

Assets$17,060,379
Liabilities$14,516,693
Net Assets$2,543,686

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

2020

Revenue$528,568
Expenses$504,592
Net Income$23,976
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 5, 2021
Return Version
2020v4.0
Gross Receipts
$528,568
Mission and Program Overview

Mission

Cooperative provider of credit union financial services

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$13,311,998$13,454,629▲ $142,631
Other Notes and Loans Receivable, Net$2,563,196$2,947,355▲ $384,159
Rtn Earn Endowment Incm Other Fnds$2,519,710$2,543,686▲ $23,976
Savings and Temporary Cash Investments$366,133$410,642▲ $44,509
Prepaid Expenses and Deferred Charges$46,311$54,138▲ $7,827
Cash and Non-Interest-Bearing Accounts$14,681$28,737▲ $14,056
Land, Buildings, and Equipment, Net$13,352$11,435▼ $1,917
Accounts Receivable$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$16,481,819$17,060,379▲ $578,560
Other Assets Total$166,148$153,443▼ $12,705
Liabilities
Other Liabilities$13,920,692$14,446,171▲ $525,479
Accounts Payable and Accrued Expenses$41,417$70,522▲ $29,105
Total Liabilities$13,962,109$14,516,693▲ $554,584
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,519,710$2,543,686▲ $23,976
Total Liabilities and Net Assets / Fund Balance$16,481,819$17,060,379▲ $578,560

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,435$0$11,435
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$89,095$12,586$101,681

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
$236,285
Investment Income
$292,283
Other Revenue
$0
Change in Net Assets
$23,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$258,516
Other Expenses$246,076
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---$187,443
Office Expenses---$82,617
Interest---$77,991
Other Employee Benefits---$39,655
Other Expenses---$33,250
Occupancy---$28,895
Pension Plan Contributions---$16,465
Payroll Taxes---$14,953
All Other Expenses---$5,944
Fees for Service Investment Mgmnt Fees---$2,713
Travel---$2,459
Advertising---$712
Total Functional Expenses$0$0$0$504,592
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$14,446,171
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
No
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 union 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 unions govering body prior to filing.

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

Directors certify with a signed statement annualy a no conflict inerest

Form 990, Part VI, Section C, Line 18

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 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 policy avalable 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
2021-05-05

Organization Details

Principal Officer
Dorothy Hyman
Formed
1935
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
0
Employees
3
Volunteers
6
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 5

PAYROLL

Raw XML AppendixShowing 400 of 401 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/SavingsAndTempCashInvstGrp/BOYAmt0366133
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0410642
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt011435
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011435
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0669
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt113432000
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/Amt014446171
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011435
IRS990ScheduleD/TotalBookValueProgramRltdAmt013454629
IRS990ScheduleD/TotalLiabilityAmt014446171
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REED CREDIT UNION IS OWNED BY ITS MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REED CREDIT UNION ELECTS ITS DIRECTORS EACH YEAR FOR A 3 YEAR TERM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 FORM IS REVIEWED AND APPROVED BY THE REED CREDIT UNIONS GOVERING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS CERTIFY WITH A SIGNED STATEMENT ANNUALY A NO CONFLICT INEREST
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 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 POLICY AVALABLE 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/TotalAssetsBOYAmt016481819
IRS990/TotalAssetsEOYAmt017060379
IRS990/TotalAssetsGrp/BOYAmt016481819
IRS990/TotalAssetsGrp/EOYAmt017060379
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0504592
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013962109
IRS990/TotalLiabilitiesEOYAmt014516693
IRS990/TotalLiabilitiesGrp/BOYAmt013962109
IRS990/TotalLiabilitiesGrp/EOYAmt014516693
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02519710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02543686
IRS990/TotalOtherCompensationAmt012586
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt0236285
IRS990/TotalReportableCompFromOrgAmt089095
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0528568
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0528568
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016481819
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017060379
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt02459
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010200 EAST FWY 125
IRS990/USAddress/CityNm0HOUSTON
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077029
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0REEDCREDITUNION.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DOROTHY HYMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07136733333
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-05
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/ReturnTs02021-05-05T11:54:26-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31

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
2020Detailed filing. Detailed filing data is available for this year.$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