Civic Intelligence

Texell Credit Union

990 • Fiscal year 2016 • EIN 74-1109882

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 03, 2017

Organization ProfileWWW.TEXELL.ORG

View Organization Page

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

41st percentile

0.89x

Higher debt load relative to assets than 41% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

11th percentile

13.10x

Higher debt load relative to revenue than 11% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Net Margin

44th percentile

12%

Higher net margin than 44% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

33rd percentile

$333,731

Higher top officer pay than 33% of similar nonprofits.

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

2016 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2016

Asset Growth

91st percentile

12%

Faster asset growth than 91% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

59th percentile

8.5%

Faster revenue growth than 59% of similar nonprofits.

2016 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$310,328,613

Up $34,094,243 (+12%) from 2015

Net Assets

Up

$34,225,310

Up $2,448,349 (+7.7%) from 2015

Liabilities

Up

$276,103,303

Up $31,645,894 (+13%) from 2015

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin44th percentile

Revenue

Up

$21,082,621

Up $1,652,250 (+8.5%) from 2015

Expenses

Up

$18,623,926

Up $2,478,033 (+15%) from 2015

Net Income

Down

$2,458,695

Down $825,783 (-25%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

2016

Assets$310,328,613
Liabilities$276,103,303
Net Assets$34,225,310
Open 2016 Filing

Operations Trend

Revenue Growth59th percentile

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

2016

Revenue$21,082,621
Expenses$18,623,926
Net Income$2,458,695
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 3, 2017
Return Version
2016v3.0
Gross Receipts
$21,082,621
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$225,816,012$244,481,398▲ $18,665,386
Rtn Earn Endowment Incm Other Fnds$31,776,961$34,225,310▲ $2,448,349
Savings and Temporary Cash Investments$18,571,983$32,718,264▲ $14,146,281
Land, Buildings, and Equipment, Net$9,704,771$11,274,378▲ $1,569,607
Investments in Publicly Traded Securities$8,874,773$6,637,790▼ $2,236,983
Cash and Non-Interest-Bearing Accounts$5,289,791$5,081,259▼ $208,532
Accounts Receivable$2,239,833$1,894,388▼ $345,445
Receivables From Officers Etc$874,075$1,019,075▲ $145,000
Prepaid Expenses and Deferred Charges$342,338$478,285▲ $135,947
Investments Other Securities$96,100$111,800▲ $15,700
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$276,234,370$310,328,613▲ $34,094,243
Other Assets Total$4,424,694$6,631,976▲ $2,207,282
Liabilities
Other Liabilities$239,479,403$270,384,313▲ $30,904,910
Accounts Payable and Accrued Expenses$4,978,006$5,718,990▲ $740,984
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$244,457,409$276,103,303▲ $31,645,894
Net Assets / Fund Balance
Total Net Assets Fund Balance$31,776,961$34,225,310▲ $2,448,349
Total Liabilities and Net Assets / Fund Balance$276,234,370$310,328,613▲ $34,094,243

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,247,371$2,310,113$0
Other Land Buildings$0$0$0
Land$4,145,244-$0
Equipment$1,506,997$3,908,489$0
Leasehold Improvements$374,766$172,115$0
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tony HaleCEOFT$240,141$93,590$333,731
Amy MerrimanCOOFT$133,218$46,672$179,890
George FerrettiCFOFT$138,747$28,571$167,318
Anthony RodgersGeneral CounselFT$128,626$20,149$148,775
Joe PalmerBod Member-$2,340-$2,340
Daniel MareshBod Member-$1,950-$1,950
Kenneth GabyBod Member-$1,800-$1,800
Van MillerBod Member-$1,800-$1,800
Dan BowenBod Member-$1,650-$1,650
William CorneliusBod Member-$1,650-$1,650
Chris MooreBod Member-$1,500-$1,500
Lynn EatonBod Member-$1,350-$1,350

Highest Paid Contractors

ContractorServicesLocationCompensation
March Builders And Design INCBuilding Design233 OAK STREET, SUITE 150, Highland Village, TX 75077$645,018
Jack Henry And Associates INCCore Information ProviderPO BOX 609, Monett, MO 65708$430,454
Ebco General Contractor LtdBuilding Contractor305 W GILLIS AVE, Cameron, TX 76520$345,865
Cen-tex Financial SolutionsAtm MaintenancePO BOX 23668, Waco, TX 76702$264,260
Lanvera LtdMass Mail Provider112 WRANGLER DR, Coppell, TX 75019$195,007
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$20,920,828
Investment Income
$161,793
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$2,458,695

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,082,621
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$21,082,621
Total Revenue per Form 990
$21,082,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,826,172
Salaries, Compensation, and Employee Benefits$6,797,754
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,891,745$0$0$4,891,745
Interest$1,640,895$0$0$1,640,895
Occupancy$1,052,638$0$0$1,052,638
Advertising$831,436$0$0$831,436
Current Officers, Directors, Trustees, and Key Employees$829,713$0$0$829,713
Office Expenses$727,234$0$0$727,234
Depreciation Depletion$567,728$0$0$567,728
Fees for Services Other$520,193$0$0$520,193
Other Employee Benefits$507,982$0$0$507,982
Other Expenses$503,913$0$0$503,913
Payroll Taxes$418,372$0$0$418,372
Information Technology$292,671$0$0$292,671
Pension Plan Contributions$149,942$0$0$149,942
Fees for Services Accounting$87,793$0$0$87,793
Insurance$81,953$0$0$81,953
Travel$62,139$0$0$62,139
Fees for Services Management$52,170$0$0$52,170
Conferences and Meetings$38,917$0$0$38,917
Payments to Affiliates$28,603$0$0$28,603
Fees for Services Legal$1,470$0$0$1,470
Total Functional Expenses$18,623,926$0$0$18,623,926

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$18,623,926
Total Expenses per Audited Statements$18,623,926
Total Expenses per Form 990$18,623,926
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$874,075$1,019,075▲ $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$121,163,101
Certificates$94,967,692
Money Market$38,508,953
Ira Certificates$10,437,703
Ira Shares$2,830,915
Organization Shares$2,357,837
Od Shares$118,112
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., 2016|”

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
2017-11-03

Organization Details

Principal Officer
Tony Hale
Formed
1948
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
199
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.”

Financial Statement Notes

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 evaulated on whether they meet the "more likely than not" standard for”

Raw XML AppendixShowing 400 of 727 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/Form990PartVIISectionAGrp/OtherCompensationAmt915925
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1028571
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1120149
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt9COO
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11GENERAL COUNSEL
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IRS990/Form990TFiledInd0true
IRS990/FormationYr01948
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/FundraisingAmt00
IRS990/FundraisingDirectExpensesAmt00
IRS990/FundraisingGrossIncomeAmt00
IRS990/GamingActivitiesInd0false
IRS990/GamingDirectExpensesAmt00
IRS990/GamingGrossIncomeAmt00
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt021082621
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IRS990/IncludeFIN48FootnoteInd0true
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IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
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IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
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IRS990/InformationTechnologyGrp/TotalAmt0292671
IRS990/InsuranceGrp/FundraisingAmt00
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IRS990/InterestGrp/ManagementAndGeneralAmt00
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0111800
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt08874773
IRS990/InvestmentsPubTradedSecGrp/EOYAmt06637790
IRS990/IRPDocumentCnt04566
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt06390717
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt011274378
IRS990/LandBldgEquipCostOrOtherBssAmt017665095
IRS990/LegalDomicileStateCd0TX
IRS990/LoanOutstandingInd0true
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt00
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0COOPERATIVE, MEMBER-OWNED, NOT-FOR-PROFIT PROVIDER OF FINANICAL SERVICES TO OUR MEMBERS
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IRS990/NetAssetsOrFundBalancesEOYAmt034225310
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
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IRS990/OfficeExpensesGrp/TotalAmt0727234
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSSES
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IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS EXPENSE
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IRS990/OtherExpensesGrp/FundraisingAmt30
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt02813819
IRS990/OtherExpensesGrp/ProgramServicesAmt11998785
IRS990/OtherExpensesGrp/ProgramServicesAmt2523815
IRS990/OtherExpensesGrp/ProgramServicesAmt3503913
IRS990/OtherExpensesGrp/TotalAmt02813819
IRS990/OtherExpensesGrp/TotalAmt11998785
IRS990/OtherExpensesGrp/TotalAmt2523815
IRS990/OtherExpensesGrp/TotalAmt3503913
IRS990/OtherLiabilitiesGrp/BOYAmt0239479403
IRS990/OtherLiabilitiesGrp/EOYAmt0270384313
IRS990/OtherOrganizationDsc0CREDIT UNION
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$310,328,613
Liabilities
$276,103,303
Net assets
$34,225,310
Revenue
$21,082,621
Expenses
$18,623,926
Net income
$2,458,695
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
2016Detailed filing. Detailed filing data is available for this year.$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