Civic Intelligence

Fivepoint Credit Union

990 • Fiscal year 2016 • EIN 74-1109889

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 09, 2017

3700 Skyline DrNederland, TX 77627-1366

(409) 726-8300

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.88x

Higher debt load relative to assets than 33% of similar nonprofits.

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

Liabilities / Revenue

9th percentile

12.21x

Higher debt load relative to revenue than 9% of similar nonprofits.

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

Net Margin

47th percentile

12%

Higher net margin than 47% of similar nonprofits.

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

Top Officer Pay

63rd percentile

$452,671

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

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

Asset Growth

62nd percentile

7.3%

Faster asset growth than 62% of similar nonprofits.

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

Revenue Growth

59th percentile

8.7%

Faster revenue growth than 59% of similar nonprofits.

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

Assets

Up

$544,211,928

Up $37,023,065 (+7.3%) from 2015

Net Assets

Up

$64,861,714

Up $5,174,798 (+8.7%) from 2015

Liabilities

Up

$479,350,214

Up $31,848,267 (+7.1%) from 2015

Revenue

Up

$39,274,110

Up $3,143,356 (+8.7%) from 2015

Expenses

Up

$34,536,631

Up $2,873,918 (+9.1%) from 2015

Net Income

Up

$4,737,479

Up $269,438 (+6.0%) from 2015

Historical Trend

Balance Sheet Trend

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

$1.0B$500M$0Assets 2014: $475,487,418Liabilities 2014: $419,500,521Net Assets 2014: $55,986,8972014Assets 2015: $507,188,863Liabilities 2015: $447,501,947Net Assets 2015: $59,686,9162015Assets 2016: $544,211,928Liabilities 2016: $479,350,214Net Assets 2016: $64,861,7142016Assets 2017: $638,392,794Liabilities 2017: $571,540,789Net Assets 2017: $66,852,0052017Assets 2018: $600,855,416Liabilities 2018: $530,708,227Net Assets 2018: $70,147,1892018Assets 2019: $672,374,560Liabilities 2019: $597,333,842Net Assets 2019: $75,040,7182019Assets 2020: $772,281,463Liabilities 2020: $693,718,388Net Assets 2020: $78,563,0752020Assets 2021: $833,470,409Liabilities 2021: $751,155,135Net Assets 2021: $82,315,2742021Assets 2022: $874,862,124Liabilities 2022: $800,708,884Net Assets 2022: $74,153,2402022Assets 2023: $940,698,707Liabilities 2023: $864,661,283Net Assets 2023: $76,037,4242023Assets 2024: $987,167,081Liabilities 2024: $907,001,377Net Assets 2024: $80,165,7042024

Highlighted filing

2016

Assets$544,211,928
Liabilities$479,350,214
Net Assets$64,861,714

Operations Trend

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

$80M$60M$40M$20M$0Revenue 2014: $33,804,866Expenses 2014: $29,033,889Net Income 2014: $4,770,9772014Revenue 2015: $36,130,754Expenses 2015: $31,662,713Net Income 2015: $4,468,0412015Revenue 2016: $39,274,110Expenses 2016: $34,536,631Net Income 2016: $4,737,4792016Revenue 2017: $38,551,666Expenses 2017: $36,967,526Net Income 2017: $1,584,1402017Revenue 2018: $41,733,318Expenses 2018: $37,994,725Net Income 2018: $3,738,5932018Revenue 2019: $43,663,158Expenses 2019: $40,133,358Net Income 2019: $3,529,8002019Revenue 2020: $43,125,842Expenses 2020: $40,913,732Net Income 2020: $2,212,1102020Revenue 2021: $45,891,302Expenses 2021: $40,066,004Net Income 2021: $5,825,2982021Revenue 2022: $49,433,751Expenses 2022: $44,488,509Net Income 2022: $4,945,2422022Revenue 2023: $58,838,375Expenses 2023: $56,531,671Net Income 2023: $2,306,7042023Revenue 2024: $68,944,661Expenses 2024: $66,115,636Net Income 2024: $2,829,0252024

Highlighted filing

2016

Revenue$39,274,110
Expenses$34,536,631
Net Income$4,737,479
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 9, 2017
Return Version
2016v3.0
Gross Receipts
$65,519,280
Mission and Program Overview

Mission

To improve the quality of life for our members and the community.

To provide financial services to our membership with various loan and deposit products.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$374,349,283$418,078,867▲ $43,729,584
Rtn Earn Endowment Incm Other Fnds$59,686,916$64,861,714▲ $5,174,798
Savings and Temporary Cash Investments$17,863,720$36,601,692▲ $18,737,972
Investments in Publicly Traded Securities$63,001,982$27,266,265▼ $35,735,717
Land, Buildings, and Equipment, Net$23,861,484$23,589,886▼ $271,598
Cash and Non-Interest-Bearing Accounts$8,960,058$8,715,510▼ $244,548
Receivables From Officers Etc-$7,700,000-
Accounts Receivable$1,253,301$1,324,971▲ $71,670
Prepaid Expenses and Deferred Charges$1,076,563$893,721▼ $182,842
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$507,188,863$544,211,928▲ $37,023,065
Other Assets Total$16,822,472$20,041,016▲ $3,218,544
Liabilities
Other Liabilities$435,495,971$473,770,043▲ $38,274,072
Mortgage Notes Payable Secured by Investment Property$6,000,000--
Accounts Payable and Accrued Expenses$6,005,976$5,580,171▼ $425,805
Total Liabilities$447,501,947$479,350,214▲ $31,848,267
Net Assets / Fund Balance
Total Net Assets Fund Balance$59,686,916$64,861,714▲ $5,174,798
Total Liabilities and Net Assets / Fund Balance$507,188,863$544,211,928▲ $37,023,065

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,690,743$6,535,665$25,226,408
Equipment$1,912,028$11,525,836$13,437,864
Leasehold Improvements$1,355,656$1,972,421$3,328,077
Land$1,631,459-$1,631,459
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik ShawCEOFT$335,008$117,663$452,671
Kenneth MillerExecutive Vice PresidentFT$244,504$78,595$323,099
Matt BorelFinancial AdvisorFT$233,327$30,193$263,520
Kristen BellangerSVP, OperationsFT$152,937$53,314$206,251
Vicki KelleySVP, Human ResourcesFT$149,271$56,829$206,100
Jennifer WebbSVP, LendingFT$149,309$40,744$190,053
Glynda ManuelVP LendingFT$123,070$19,361$142,431
Cathy HagnerVP Store AdministrationFT$121,942$9,158$131,100
Aimee SlottVP Business LendingFT$117,233$6,522$123,755
Sammie HoldenVP AccountingFT$118,837$4,024$122,861

Board Members and Trustees

NameTitle
Glenn JohnsonChairman
Joe DicksonFirst Vice Chairman
John ComeauxSecond Vice Chairman
Denny WinterBoard Member
Hilton Ferguson JrBoard Member
Jack ThorntonBoard Member
Jo ByrdBoard Member
Jody BriggsBoard Member
Karol RussellBoard Member
Louis AnselmoBoard Member
James SaxonSecretary Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
CentreCore Conversion SoftwarePO BOX 679069, Dallas, TX 75267-9069$868,671
Digital InsightHome BankingPO BOX 740641, Los Angeles, CA 09974-0641$805,980
BlueprintCore Conversion Software2560 ANTHEM VILLAGE DRIVE STE 200, Henderson, NV 89052$761,679
The Lee GroupMarketing1555 DUSTIN CADE DR, New Braunfels, TX 78130$733,552
Pulse EftCard Processing1301 MCKINNEY STE 2500, Houston, TX 77010$671,358
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$38,315,319
Investment Income
$884,446
Other Revenue
$74,345
Change in Net Assets
$4,737,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,180,289
Salaries, Compensation, and Employee Benefits$12,345,342
Grants and Similar Amounts Paid$11,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$8,877,685
Interest---$2,864,047
Information Technology---$2,332,029
Advertising---$2,078,347
Office Expenses---$2,043,666
Depreciation Depletion---$1,559,629
Current Officers, Directors, Trustees, and Key Employees---$1,378,174
All Other Expenses---$1,126,379
Occupancy---$1,102,209
Other Employee Benefits---$906,164
Other Expenses---$783,872
Payroll Taxes---$764,900
Insurance---$450,159
Pension Plan Contributions---$418,419
Fees for Services Other---$402,034
Travel---$225,838
Fees for Services Legal---$209,391
Fees for Services Accounting---$104,000
Payments to Affiliates---$101,814
Conferences and Meetings---$27,784
Grants to Domestic Individuals---$11,000
Total Functional Expenses$0$0$0$34,536,631
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$7,700,000-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share Accounts$473,770,043
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 6

Every client that has an account with our credit union is also a member.

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

Our board of directors are elected by a vote of the membership. Annually, if there is an open position, the nominating committee will put forth the candidates which our members can vote on during the annual meeting.

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

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.

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

Form 990 is reviewed by erik shaw, ceo, kenneth miller, evp, and vicki kelley, svp of human resources for its accuracy.

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

Our compliance officer along with senior management review policies annually. We then require employees to sign they have read and understood the policies. Our internal audit department conducts audits and review to ensure compliance.

Form 990, Part VI, Section B, Line 15

Fivepoint utilizes a 3rd party to provide industry standard and regional specific salary ranges for all staff.

Form 990, Part VI, Section C, Line 19

The credit union's governing documents and conflict of interest policy are not made available to the public. The credit union's financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Fivepoint Credit Union
EIN
74-1109889
Phone
4097268300
Address
3700 SKYLINE DR, NEDERLAND, TX 77627-1366

Signing Officer

Name
Kenneth Miller
Title
Executive Vice President
Phone
4097268200
Signed
2017-10-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erik Shaw
Formed
1935
Legal Domicile
TX
Voting Board Members
11
Independent Board Members
11
Employees
241
Volunteers
14

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Robin D Hoag CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Reclassification adjustment for investment gains on securities sold 450,352.

FORM 990, PART XII, LINE 2C:

A committee exists that assumes responsibility for the oversight of the audit of the annual financial statements and the selection of an independent accountant. The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt, by statute (internal revenue code section 501(c)(14), from federal income tax.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2BLUEPRINT
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