Civic Intelligence

Gulf Credit Union

990 • Fiscal year 2019 • EIN 74-1110172

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 11, 2020

Organization Profilewww.gecu.org

View Organization Page

5140 West Parkway StGroves, TX 77619

(409) 963-1191

Siviq Scores

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

Liabilities / Assets

99th percentile

0.93x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

16.94x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Net Margin

95th percentile

26%

Higher net margin than 95% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

12th percentile

$257,946

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Source year 2019

Asset Growth

6th percentile

-0.1%

Faster asset growth than 6% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-4.7%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)14 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$277,935,079

Down $170,482 (-0.1%) from 2018

Net Assets

Up

$19,937,693

Up $6,627,108 (+50%) from 2018

Liabilities

Down

$257,997,386

Down $6,797,590 (-2.6%) from 2018

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin95th percentile

Revenue

Down

$15,232,486

Down $743,108 (-4.7%) from 2018

Expenses

Down

$11,254,657

Down $1,361,522 (-11%) from 2018

Net Income

Up

$3,977,829

Up $618,414 (+18%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$400M$300M$200M$100M$0Assets 2010: $225,945,337Liabilities 2010: $213,329,596Net Assets 2010: $12,615,7412010Assets 2011: $215,814,783Liabilities 2011: $205,586,300Net Assets 2011: $10,228,4832011Assets 2012: $218,101,087Liabilities 2012: $207,962,752Net Assets 2012: $10,138,3352012Assets 2013: $220,736,384Liabilities 2013: $209,368,521Net Assets 2013: $11,367,8632013Assets 2014: $230,537,889Liabilities 2014: $217,399,880Net Assets 2014: $13,138,0092014Assets 2015: $237,455,290Liabilities 2015: $225,741,744Net Assets 2015: $11,713,5462015Assets 2016: $247,358,627Liabilities 2016: $235,969,795Net Assets 2016: $11,388,8322016Assets 2017: $309,185,254Liabilities 2017: $298,037,456Net Assets 2017: $11,147,7982017Assets 2018: $278,105,561Liabilities 2018: $264,794,976Net Assets 2018: $13,310,5852018Assets 2019: $277,935,079Liabilities 2019: $257,997,386Net Assets 2019: $19,937,6932019Assets 2020: $315,708,714Liabilities 2020: $291,307,911Net Assets 2020: $24,400,8032020Assets 2021: $336,623,302Liabilities 2021: $308,245,430Net Assets 2021: $28,377,8722021Assets 2022: $325,190,904Liabilities 2022: $305,735,767Net Assets 2022: $19,455,1372022Assets 2023: $317,965,711Liabilities 2023: $295,380,230Net Assets 2023: $22,585,4812023Assets 2024: $312,762,443Liabilities 2024: $285,955,200Net Assets 2024: $26,807,2432024

Highlighted filing

2019

Assets$277,935,079
Liabilities$257,997,386
Net Assets$19,937,693
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $14,698,5592010Expenses 2011: $13,179,7782011Expenses 2012: $12,918,0842012Revenue 2013: $15,988,613Expenses 2013: $12,832,549Net Income 2013: $3,156,0642013Revenue 2014: $11,685,018Expenses 2014: $11,060,856Net Income 2014: $624,1622014Revenue 2015: $10,657,646Expenses 2015: $11,668,288Net Income 2015: -$1,010,6422015Revenue 2016: $12,221,580Expenses 2016: $12,229,874Net Income 2016: -$8,2942016Revenue 2017: $12,567,212Expenses 2017: $12,638,235Net Income 2017: -$71,0232017Revenue 2018: $15,975,594Expenses 2018: $12,616,179Net Income 2018: $3,359,4152018Revenue 2019: $15,232,486Expenses 2019: $11,254,657Net Income 2019: $3,977,8292019Revenue 2020: $14,154,134Expenses 2020: $10,747,160Net Income 2020: $3,406,9742020Revenue 2021: $15,838,269Expenses 2021: $9,775,315Net Income 2021: $6,062,9542021Revenue 2022: $13,218,033Expenses 2022: $12,024,970Net Income 2022: $1,193,0632022Revenue 2023: $16,948,632Expenses 2023: $14,605,125Net Income 2023: $2,343,5072023Revenue 2024: $13,985,984Expenses 2024: $12,795,695Net Income 2024: $1,190,2892024

Highlighted filing

2019

Revenue$15,232,486
Expenses$11,254,657
Net Income$3,977,829
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 11, 2020
Return Version
2019v5.0
Gross Receipts
$24,252,412
Mission and Program Overview

Mission

Voluntary, cooperative, non-profit savings institution (credit union) incorporated under the provisions of the Texas Credit Union Act, for the purpose of encouraging thrift among our members, providing credit at a fair and reasonable rate of interest and providing an opportunity to improve our member's economic condition.

Cooperative, nonprofit financial institution providing credit union financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$160,675,410$161,226,782▲ $551,372
Savings and Temporary Cash Investments$82,697,246$63,013,624▼ $19,683,622
Cash and Non-Interest-Bearing Accounts$6,839,889$25,475,697▲ $18,635,808
Rtn Earn Endowment Incm Other Fnds$13,310,585$19,937,693▲ $6,627,108
Prepaid Expenses and Deferred Charges$12,760,884$14,662,719▲ $1,901,835
Land, Buildings, and Equipment, Net$4,992,467$4,710,514▼ $281,953
Receivables From Officers Etc$1,619,144$1,520,048▼ $99,096
Accounts Receivable$333,622$229,839▼ $103,783
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$278,105,561$277,935,079▼ $170,482
Other Assets Total$8,186,899$7,095,856▼ $1,091,043
Liabilities
Other Liabilities$263,459,860$256,391,860▼ $7,068,000
Accounts Payable and Accrued Expenses$1,335,116$1,605,526▲ $270,410
Total Liabilities$264,794,976$257,997,386▼ $6,797,590
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,310,585$19,937,693▲ $6,627,108
Total Liabilities and Net Assets / Fund Balance$278,105,561$277,935,079▼ $170,482

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,593,276$4,287,443$6,880,719
Other Land Buildings$537,362$2,352,640$2,890,002
Land$1,579,876-$1,579,876
Compensation and Service Providers
Top Officer Pay12th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John Pat White IIVP Wealth MgmtFT$245,749$12,197$257,946
Todd GaudinCEOFT$183,756$17,976$201,732
Linda Kiker RialsCFOFT$149,604$24,415$174,019
Ronald BurkhalterFormer CEOFT$151,932$9,069$161,001
Stephine AdamsCOOFT$101,972$10,332$112,304

Board Members and Trustees

NameTitle
Barry GormanChairman
Johnny LewallenVice Chairman
Camille JonesBoard Director
Carl DuplantisBoard Director
Libby ArnoldBoard Director
Karen BrownSecretary
Robert AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,565,145
Investment Income
$1,651,300
Other Revenue
$1,016,041
Change in Net Assets
$3,977,829

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,232,486
Total Revenue per Audited Statements
$15,232,486
Total Revenue per Form 990
$15,232,486
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,741,766
Salaries, Compensation, and Employee Benefits$4,512,891
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,482,028
Fees for Services Other---$1,179,078
Office Expenses---$790,684
Interest---$752,983
Current Officers, Directors, Trustees, and Key Employees---$746,001
Depreciation Depletion---$585,516
Advertising---$550,735
Occupancy---$548,832
Payroll Taxes---$303,170
Insurance---$148,067
Pension Plan Contributions---$118,967
Other Expenses---$80,850
Fees for Service Investment Mgmnt Fees---$79,931
Fees for Services Accounting---$74,317
Fees for Services Legal---$35,317
Travel---$26,373
All Other Expenses---$1,464
Other Employee Benefits---$-137,275
Total Functional Expenses$0$0$0$11,254,657

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,254,657
Total Expenses per Audited Statements$11,254,657
Total Expenses per Form 990$11,254,657
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$1,619,144$1,520,048▼ $99,096
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member share accounts$255,759,615
Drafts Payable$518,556
Unearned revenue$62,000
Dividends Payable$51,689
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 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, Line 11B: Form 990 Review Process

“A copy of the Form 990 is provided to each member of Gulf Credit Union's Board of Directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Gulf Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Gulf Credit Union
EIN
74-1110172
Phone
4099631191
Address
5140 West Parkway St, Groves, TX 77619

Signing Officer

Name
Todd Gaudin
Title
CEO
Signed
2020-08-11
Discuss with paid preparer
Yes

Organization Details

Formed
1939
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
101

Preparer

Firm
Wathen DeShong & Juncker LLP
Address
4140 Gladys Avenue Suite 101, Beaumont, TX 77706-3648
Preparer
Pat O'Neill
Phone
4098381605
Supplemental Narrative

Additional Explanations

Client Note 1

“Client Note 1 - Gulf Credit UnionSchedule J Form 990 2019Part III Supplemental InformationPart I - Line 4b - Supplemental Non-Qualified Deferred Compensation Plan (457(f) Plan) Linda Kiker Stephine Adams Rials - CFO COO TotalAccrued Liabilities 29,414 25,170 54,58412/31/2019 Vesting & Payment 9/1/2020 - 15,000 15,000 Vesting & Payment 7/1/2024 81,000 - 81,000 Vesting & Payment 9/1/2025 - 25,000 25,000 Vesting & Payment 9/1/2030 - 35,000 35,000 These 12/31/2019 accrued liabilities are included in Part X, Line 17, Accounts Payable and Accrued Expenses.”

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IRS990/InterestGrp/TotalAmt0752983
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Voluntary, cooperative, non-profit savings institution (credit union) incorporated under the provisions of the Texas Credit Union Act, for the purpose of encouraging thrift among our members, providing credit at a fair and reasonable rate of interest and providing an opportunity to improve our member's economic condition.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-70488
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt012776
IRS990/NetUnrlzdGainsLossesInvstAmt02649279
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt0548832
IRS990/OfficeExpensesGrp/TotalAmt0790684
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt08186899
IRS990/OtherAssetsTotalGrp/EOYAmt07095856
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0-137275
IRS990/OtherExpensesGrp/Desc0Other Expenses
IRS990/OtherExpensesGrp/Desc1Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc2Postage and Shipping
IRS990/OtherExpensesGrp/Desc3Printing and Publications
IRS990/OtherExpensesGrp/TotalAmt01081238
IRS990/OtherExpensesGrp/TotalAmt1668532
IRS990/OtherExpensesGrp/TotalAmt2137849
IRS990/OtherExpensesGrp/TotalAmt380850
IRS990/OtherLiabilitiesGrp/BOYAmt0263459860
IRS990/OtherLiabilitiesGrp/EOYAmt0256391860
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Prior Serv Pension Costs
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IRS990/OtherRevenueTotalAmt01016041
IRS990/OtherSalariesAndWagesGrp/TotalAmt03482028
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0160675410
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0161226782
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt0303170
IRS990/PensionPlanContributionsGrp/TotalAmt0118967
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012760884
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014662719
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/Desc0Fees & Charges
IRS990/ProgramServiceRevenueGrp/Desc1Interest fees on loans
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05279779
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt17187870
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05377275
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17187870
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt097496
IRS990/ProgSrvcAccomActy2Grp/Desc0Gulf Credit Union provides free share draft (checking) accounts to all members, business accounts, and limited free checks to senior citizens. The credit union had 15,407 share draft accounts as of December 31, 2019. Dividends are paid on these accounts monthly. Additionally, the credit union extends the reach of these accounts to all members with free debit and ATM cards, Internet account access, and the use of the automated phone teller.
IRS990/ProgSrvcAccomActy3Grp/Desc0Gulf Credit Union provides vehicle and other consumer loans. The consumer loan product line includes efficient underwriting and flexible offerings for recreational vehicles, boats, and motorcycles. Consumer credit life and disability insurance is available on any of these loan types. The credit union carried 4,225 consumer loans as of December 31, 2019.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt01914548
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt06860190
IRS990/PYOtherRevenueAmt01643140
IRS990/PYProgramServiceRevenueAmt012417906
IRS990/PYRevenuesLessExpensesAmt03359415
IRS990/PYSalariesCompEmpBnftPaidAmt05755989
IRS990/PYTotalExpensesAmt012616179
IRS990/PYTotalRevenueAmt015975594
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt01619144
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt01520048
IRS990/ReconcilationRevenueExpnssAmt03977829
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt013310585
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt019937693
IRS990/SavingsAndTempCashInvstGrp/BOYAmt082697246
IRS990/SavingsAndTempCashInvstGrp/EOYAmt063013624
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02593276
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04287443
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06880719
IRS990ScheduleD/ExpensesSubtotalAmt011254657
IRS990ScheduleD/LandGrp/BookValueAmt01579876
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01579876
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0537362
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02352640
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02890002
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt051689
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1518556
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2255759615
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt362000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Dividends Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Drafts Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Unearned revenue
IRS990ScheduleD/RevenueSubtotalAmt015232486
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04710514
IRS990ScheduleD/TotalExpensesPerForm990Amt011254657
IRS990ScheduleD/TotalLiabilityAmt0256391860
IRS990ScheduleD/TotalRevenuePerForm990Amt015232486
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt015232486
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011254657
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0245749
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1149604
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2151932
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3183756
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt07498
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt119913
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt24689
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt311020
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt04699
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt14502
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt24380
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt36956
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0John Pat White II
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Linda Kiker Rials
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2Ronald Burkhalter
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3Todd Gaudin
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0VP Wealth Mgmt
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2Former CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3CEO
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1174019
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt2161001
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt3201732
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt01520048
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Ins. Policy
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt01600000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Ronald Burkhalter
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Former CEO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt01520048
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Client Note 1 - Gulf Credit UnionSchedule J Form 990 2019Part III Supplemental InformationPart I - Line 4b - Supplemental Non-Qualified Deferred Compensation Plan (457(f) Plan) Linda Kiker Stephine Adams Rials - CFO COO TotalAccrued Liabilities 29,414 25,170 54,58412/31/2019 Vesting & Payment 9/1/2020 - 15,000 15,000 Vesting & Payment 7/1/2024 81,000 - 81,000 Vesting & Payment 9/1/2025 - 25,000 25,000 Vesting & Payment 9/1/2030 - 35,000 35,000 These 12/31/2019 accrued liabilities are included in Part X, Line 17, Accounts Payable and Accrued Expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the Form 990 is provided to each member of Gulf Credit Union's Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Gulf Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Client Note 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0278105561
IRS990/TotalAssetsEOYAmt0277935079
IRS990/TotalAssetsGrp/BOYAmt0278105561

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$277,935,079
Liabilities
$257,997,386
Net assets
$19,937,693
Revenue
$15,232,486
Expenses
$11,254,657
Net income
$3,977,829
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$313$286$26.8$14.0$12.8$1.19
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$318$295$22.6$16.9$14.6$2.34
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$325$306$19.5$13.2$12.0$1.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$337$308$28.4$15.8$9.78$6.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$316$291$24.4$14.2$10.7$3.41
2019Detailed filing. Detailed filing data is available for this year.$278$258$19.9$15.2$11.3$3.98
2018Summary only. Only limited summary data is available for this year.$278$265$13.3$16.0$12.6$3.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$309$298$11.1$12.6$12.6$0.07
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$247$236$11.4$12.2$12.2$0.01
2015Detailed filing. Detailed filing data is available for this year.$237$226$11.7$10.7$11.7$1.01
2014Detailed filing. Detailed filing data is available for this year.$231$217$13.1$11.7$11.1$0.62
2013Detailed filing. Detailed filing data is available for this year.$221$209$11.4$16.0$12.8$3.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$218$208$10.1$12.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$216$206$10.2$13.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$226$213$12.6$14.7