Civic Intelligence

Texell Credit Union

990 • Fiscal year 2015 • EIN 74-1109882

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 24, 2016

P O Box 983Temple, TX 76503

(254) 773-1604

Siviq Scores

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

Liabilities / Assets

38th percentile

0.88x

Higher debt load relative to assets than 38% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

10th percentile

12.58x

Higher debt load relative to revenue than 10% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Net Margin

66th percentile

17%

Higher net margin than 66% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

27th percentile

$306,589

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2015

Asset Growth

91st percentile

15%

Faster asset growth than 91% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

51st percentile

5.5%

Faster revenue growth than 51% of similar nonprofits.

2015 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Up

$276,234,370

Up $35,989,380 (+15%) from 2014

Net Assets

Up

$31,776,961

Up $3,267,578 (+11%) from 2014

Liabilities

Up

$244,457,409

Up $32,721,802 (+15%) from 2014

Revenue

Up

$19,430,371

Up $1,010,712 (+5.5%) from 2014

Expenses

Up

$16,145,893

Up $1,787,559 (+12%) from 2014

Net Income

Down

$3,284,478

Down $776,847 (-19%) from 2014

Historical Trend

Balance Sheet Trend

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

$800M$600M$400M$200M$0Assets 2011: $169,554,580Liabilities 2011: $1,861,972Net Assets 2011: $167,692,6082011Assets 2012: $206,198,297Liabilities 2012: $185,339,979Net Assets 2012: $20,858,3182012Assets 2013: $225,882,933Liabilities 2013: $201,460,768Net Assets 2013: $24,422,1652013Assets 2014: $240,244,990Liabilities 2014: $211,735,607Net Assets 2014: $28,509,3832014Assets 2015: $276,234,370Liabilities 2015: $244,457,409Net Assets 2015: $31,776,9612015Assets 2016: $310,328,613Liabilities 2016: $276,103,303Net Assets 2016: $34,225,3102016Assets 2017: $331,713,825Liabilities 2017: $295,853,098Net Assets 2017: $35,860,7272017Assets 2018: $355,023,199Liabilities 2018: $315,246,280Net Assets 2018: $39,776,9192018Assets 2019: $406,684,593Liabilities 2019: $362,652,773Net Assets 2019: $44,031,8202019Assets 2020: $471,610,622Liabilities 2020: $423,243,513Net Assets 2020: $48,367,1092020Assets 2021: $562,565,721Liabilities 2021: $507,148,846Net Assets 2021: $55,416,8752021Assets 2022: $628,710,729Liabilities 2022: $565,541,261Net Assets 2022: $63,169,4682022Assets 2023: $690,228,948Liabilities 2023: $624,442,003Net Assets 2023: $65,786,9452023Assets 2024: $751,933,225Liabilities 2024: $681,296,097Net Assets 2024: $70,637,1282024

Highlighted filing

2015

Assets$276,234,370
Liabilities$244,457,409
Net Assets$31,776,961

Operations Trend

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

$80M$60M$40M$20M$0Expenses 2011: $11,068,8212011Expenses 2012: $12,372,2752012Revenue 2013: $17,114,569Expenses 2013: $13,466,086Net Income 2013: $3,648,4832013Revenue 2014: $18,419,659Expenses 2014: $14,358,334Net Income 2014: $4,061,3252014Revenue 2015: $19,430,371Expenses 2015: $16,145,893Net Income 2015: $3,284,4782015Revenue 2016: $21,082,621Expenses 2016: $18,623,926Net Income 2016: $2,458,6952016Revenue 2017: $23,855,124Expenses 2017: $22,210,434Net Income 2017: $1,644,6902017Revenue 2018: $26,531,057Expenses 2018: $22,604,269Net Income 2018: $3,926,7882018Revenue 2019: $30,045,999Expenses 2019: $25,807,980Net Income 2019: $4,238,0192019Revenue 2020: $30,180,870Expenses 2020: $25,851,228Net Income 2020: $4,329,6422020Revenue 2021: $32,645,542Expenses 2021: $25,578,034Net Income 2021: $7,067,5082021Revenue 2022: $40,918,617Expenses 2022: $33,136,008Net Income 2022: $7,782,6092022Revenue 2023: $51,325,244Expenses 2023: $46,832,206Net Income 2023: $4,493,0382023Revenue 2024: $60,245,528Expenses 2024: $55,405,368Net Income 2024: $4,840,1602024

Highlighted filing

2015

Revenue$19,430,371
Expenses$16,145,893
Net Income$3,284,478
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 24, 2016
Return Version
2015v2.1
Gross Receipts
$19,430,371
Mission and Program Overview

Mission

Cooperative, member-owned, not-for-profit provider of finanical services to our members

Cooperative, member-owned, not-for-profit provider of financial serviced to our members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$196,821,361$225,816,012▲ $28,994,651
Rtn Earn Endowment Incm Other Fnds$28,509,383$31,776,961▲ $3,267,578
Savings and Temporary Cash Investments$11,233,525$18,571,983▲ $7,338,458
Land, Buildings, and Equipment, Net$7,652,952$9,704,771▲ $2,051,819
Investments in Publicly Traded Securities$11,474,563$8,874,773▼ $2,599,790
Cash and Non-Interest-Bearing Accounts$5,076,708$5,289,791▲ $213,083
Accounts Receivable$1,571,348$2,239,833▲ $668,485
Receivables From Officers Etc$729,075$874,075▲ $145,000
Prepaid Expenses and Deferred Charges$274,791$342,338▲ $67,547
Investments Other Securities$1,090,400$96,100▼ $994,300
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$240,244,990$276,234,370▲ $35,989,380
Other Assets Total$4,320,267$4,424,694▲ $104,427
Liabilities
Other Liabilities$207,188,174$239,479,403▲ $32,291,229
Accounts Payable and Accrued Expenses$4,547,433$4,978,006▲ $430,573
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$211,735,607$244,457,409▲ $32,721,802
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,509,383$31,776,961▲ $3,267,578
Total Liabilities and Net Assets / Fund Balance$240,244,990$276,234,370▲ $35,989,380

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,046,626$2,042,613$0
Other Land Buildings$0$0$0
Land$3,507,130-$0
Equipment$1,151,015$3,340,057$0
Leasehold Improvements$0$188,645$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tony HaleCEOFT$220,685$85,904$306,589
Amy MerrimanCOOFT$111,678$47,457$159,135
George FerrettiCFOFT$111,035$25,936$136,971
Anthony RodgersGeneral CounselFT$106,633$16,484$123,117
Joe L PalmerBod Member-$720-$720
Dan BowenBod Memeber-$600-$600
Daniel MareshBod Member-$600-$600
Van MillerBod Member-$600-$600
William CorneliusBod Member-$600-$600

Board Members and Trustees

NameTitle
Chris MooreBod Member
Kenneth GabyBod Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Lamacchia Group LLCBuilding Design157 N MILWAUKEE ST, STE 204, Milwaukee, WI 53202$1,002,695
Adapt Telephony Services LLCTechnology Provider600 ENTERPRISE DR, SUITE 150, Oak Brook, IL 60523$257,602
March Builders & Design INCBuilding Design233 OAK STREET, Highland Village, TX 75077$250,738
Jack Henry & Associates INCCore Information ProviderPO BOX 609, Monett, MO 65708$239,168
Lanvera LtdMass Mail Provider112 WRANGLER DR, Coppell, TX 75019$181,715
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$19,243,139
Investment Income
$187,232
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$3,284,478

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,430,371
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$19,430,371
Total Revenue per Form 990
$19,430,371
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,204,608
Salaries, Compensation, and Employee Benefits$5,941,285
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,322,525$0$0$4,322,525
Interest$1,433,542$0$0$1,433,542
Occupancy$918,037$0$0$918,037
Current Officers, Directors, Trustees, and Key Employees$725,811$0$0$725,811
Office Expenses$665,970$0$0$665,970
Advertising$565,767$0$0$565,767
Depreciation Depletion$485,828$0$0$485,828
Other Expenses$481,397$0$0$481,397
Fees for Services Other$478,214$0$0$478,214
Other Employee Benefits$430,428$0$0$430,428
Payroll Taxes$365,663$0$0$365,663
Information Technology$266,237$0$0$266,237
Fees for Services Management$104,816$0$0$104,816
Pension Plan Contributions$96,858$0$0$96,858
Insurance$73,426$0$0$73,426
Fees for Services Accounting$72,375$0$0$72,375
Travel$45,149$0$0$45,149
Conferences and Meetings$43,173$0$0$43,173
Payments to Affiliates$29,168$0$0$29,168
Fees for Services Legal$3,644$0$0$3,644
Total Functional Expenses$16,145,893$0$0$16,145,893

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,145,893
Total Expenses per Audited Statements$16,145,893
Total Expenses per Form 990$16,145,893
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$729,075$874,075▲ $145,000
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regular and Checking Shares$114,957,162
Certificates$75,975,996
Money Market$34,550,860
Ira Certificates$9,401,629
Ira Shares$2,474,219
Organization Shares$2,020,035
Od Shares$99,502
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI, Section A, Line 6

The organization has members

Part VI, Section A, Line 7A

| Class of the Person:, Nature of their rights:| THE ORGANIZATION HAS MEMBERS, THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS|

Part VI, Section A, Line 7B

| Class of the Person:, Decisions that require their approval:, Nature of their rights:| MEMBER, THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF MEMBERS, MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.|

Part VI, Section B, Line 11B

Copy of the 990 is reviewed by senior management and shared at board meeting

Part VI, Section B, Line 15

| Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| TONY HALE, THE REVIEW OF THE CEO'S COMPENSATION IS A FUNCTION OF THE BOARD OF DIRECTORS. ANNUALLY, THE BOARD REVIEWS THE PERFORMANCE OF THE CEO AND USES AN EXECUTIVE COMPENSATION SURVEY AS A GUIDE FOR SETTING CEO COMPENSATION RELATIVE TO JOB PERFORMANCE. THE ORGANIZATION USES A THIRD PARTY TO EVALUATE AND SET APPROPRIATE PAY RANGES FOR ALL OTHER POSITIONS BASED ON REGIONAL MARKET DATA. THE BOARD APPROVES THE ENTIRE PAYROLL BUDGET, 2015|

Part VI, Section C, Line 19

Documents are available upon request. The credit union's financial statements are available for public viewing on the ncua website, via the quarterly 5300 filing.

Filing and Contact Details

Filer

Filer Name
Texell Credit Union
EIN
74-1109882
In Care Of
% TONY HALE
Phone
2547731604
Address
P O BOX 983, TEMPLE, TX 76503

Signing Officer

Name
George Ferretti
Title
CFO
Phone
2547745110
Signed
2016-08-24

Organization Details

Principal Officer
Tony Hale
Formed
1948
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
181
Volunteers
7
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

The board of directors for texell will be responsible for oversight of the audit and review. The separate audit committee for texell disbanded in 2014.

Financial Statement Notes

Part III, line 2

The credit union is exempt, by statute, from federal income taxes on income related to the exempt purpose of the credit union. The income taxes topic of the fasb asc clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for

Part X, line 2

The credit union is exempt, by statute, from federal income taxes on income related to the exempt purpose of the credit union. The income taxes topic of the fasb asc clarifies accounting for uncertainty in income taxes reported in the financial statements. The interpretation provides criteria for assessment of individual tax positions and a process for recognition and measurement of uncertain tax positions. Tax positions are evaluated on whether they meet the "more likely than not" standard for

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IRS990/OtherExpensesGrp/ProgramServicesAmt2724077
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$752$681$70.6$60.2$55.4$4.84
2023Summary only. Only limited summary data is available for this year.$690$624$65.8$51.3$46.8$4.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$629$566$63.2$40.9$33.1$7.78
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$563$507$55.4$32.6$25.6$7.07
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$472$423$48.4$30.2$25.9$4.33
2019Summary only. Only limited summary data is available for this year.$407$363$44.0$30.0$25.8$4.24
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$355$315$39.8$26.5$22.6$3.93
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$332$296$35.9$23.9$22.2$1.64
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$310$276$34.2$21.1$18.6$2.46
2015Detailed filing. Detailed filing data is available for this year.$276$244$31.8$19.4$16.1$3.28
2014Detailed filing. Detailed filing data is available for this year.$240$212$28.5$18.4$14.4$4.06
2013Detailed filing. Detailed filing data is available for this year.$226$201$24.4$17.1$13.5$3.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$206$185$20.9$12.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$170$1.86$168$11.1
Peer Organizations

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