Civic Intelligence

Freestone Credit Union

990 • Fiscal year 2012 • EIN 74-1250330

Jan 01, 2012 to Dec 31, 2012 • Filed on Apr 20, 2013

Organization ProfileFREESTONECU.ORG

View Organization Page

613 Main St75860
Siviq Scores

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

Liabilities / Assets

72nd percentile

0.90x

Higher debt load relative to assets than 72% of similar nonprofits.

2012 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

10th percentile

-1.7%

Faster asset growth than 10% of similar nonprofits.

2012 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$34,852,253

Down $599,156 (-1.7%) from 2011

Net Assets

Up

$3,370,679

Up $163,206 (+5.1%) from 2011

Liabilities

Down

$31,481,574

Down $762,362 (-2.4%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,306,080

Down $16,289 (-1.2%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$80M$60M$40M$20M$0Assets 2010: $34,404,194Liabilities 2010: $31,386,310Net Assets 2010: $3,017,8842010Assets 2011: $35,451,409Liabilities 2011: $32,243,936Net Assets 2011: $3,207,4732011Assets 2012: $34,852,253Liabilities 2012: $31,481,574Net Assets 2012: $3,370,6792012Assets 2013: $36,241,204Liabilities 2013: $32,863,652Net Assets 2013: $3,377,5522013Assets 2014: $39,062,057Liabilities 2014: $35,560,159Net Assets 2014: $3,501,8982014Assets 2015: $39,972,212Liabilities 2015: $36,365,362Net Assets 2015: $3,606,8502015Assets 2016: $38,758,764Liabilities 2016: $34,917,173Net Assets 2016: $3,841,5912016Assets 2017: $40,496,241Liabilities 2017: $36,566,280Net Assets 2017: $3,929,9612017Assets 2018: $40,575,938Liabilities 2018: $36,395,131Net Assets 2018: $4,180,8072018Assets 2019: $43,508,032Liabilities 2019: $39,151,731Net Assets 2019: $4,356,3012019Assets 2020: $45,085,109Liabilities 2020: $40,455,529Net Assets 2020: $4,629,5802020Assets 2021: $52,297,693Liabilities 2021: $47,305,514Net Assets 2021: $4,992,1792021Assets 2022: $54,162,849Liabilities 2022: $48,609,138Net Assets 2022: $5,553,7112022Assets 2023: $58,055,521Liabilities 2023: $51,965,706Net Assets 2023: $6,089,8152023Assets 2024: $66,441,191Liabilities 2024: $59,554,921Net Assets 2024: $6,886,2702024

Highlighted filing

2012

Assets$34,852,253
Liabilities$31,481,574
Net Assets$3,370,679
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Expenses 2010: $1,601,9602010Expenses 2011: $1,322,3692011Expenses 2012: $1,306,0802012Revenue 2013: $1,486,387Expenses 2013: $1,479,514Net Income 2013: $6,8732013Revenue 2014: $1,637,875Expenses 2014: $1,513,529Net Income 2014: $124,3462014Revenue 2015: $1,778,194Expenses 2015: $1,673,242Net Income 2015: $104,9522015Revenue 2016: $1,837,338Expenses 2016: $1,622,770Net Income 2016: $214,5682016Revenue 2017: $1,791,860Expenses 2017: $1,703,490Net Income 2017: $88,3702017Revenue 2018: $1,877,759Expenses 2018: $1,623,742Net Income 2018: $254,0172018Revenue 2019: $2,009,347Expenses 2019: $1,713,353Net Income 2019: $295,9942019Revenue 2020: $1,942,617Expenses 2020: $1,669,338Net Income 2020: $273,2792020Revenue 2021: $2,070,107Expenses 2021: $1,707,508Net Income 2021: $362,5992021Revenue 2022: $2,262,020Expenses 2022: $1,700,488Net Income 2022: $561,5322022Revenue 2023: $2,621,942Expenses 2023: $2,065,838Net Income 2023: $556,1042023Revenue 2024: $3,462,993Expenses 2024: $2,666,538Net Income 2024: $796,4552024

Highlighted filing

2012

Revenue-
Expenses$1,306,080
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Apr 20, 2013
Return Version
2012v2.1
Gross Receipts
$1,469,286
Mission and Program Overview

Mission

Our mission is to provide quality financial services to our members. We are dedicated to provising loans at reasonable rates, promoting thrift and maintaining financial stability to safeguard the assets of freestone credit union. At the same time, we will offer these services with professionalism, integrity and innovation to provide for the individual needs of each member. Although soundness and safety of op0erations is imperative, service in a cooperative spirit is vital.

Filing and Contact Details

Filer

EIN
74-1250330
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IRS990ScheduleO/GeneralExplanation/Explanation0OUR MISSION IS TO PROVIDE QUALITY FINANCIAL SERVICES TO OUR MEMBERS. WE ARE DEDICATED TO PROVISING LOANS AT REASONABLE RATES, PROMOTING THRIFT AND MAINTAINING FINANCIAL STABILITY TO SAFEGUARD THE ASSETS OF FREESTONE CREDIT UNION. AT THE SAME TIME, WE WILL OFFER THESE SERVICES WITH PROFESSIONALISM, INTEGRITY AND INNOVATION TO PROVIDE FOR THE INDIVIDUAL NEEDS OF EACH MEMBER. ALTHOUGH SOUNDNESS AND SAFETY OF OP0ERATIONS IS IMPERATIVE, SERVICE IN A COOPERATIVE SPIRIT IS VITAL.
IRS990ScheduleO/GeneralExplanation/Explanation1CREDIT UNION IS COMPRISED OF OWNER/MEMBERS FORMED FROM A COMMON FIELD OF MEMBERSHIP WITH EACH MEMBERS HAVING PAID AN APPROVED MINIMUM MEMBERSHIP FEE.
IRS990ScheduleO/GeneralExplanation/Explanation2THE MEMBERS HOLD ANNUAL MEETINGS AT WHICH TIME THE MEMBERS PRESENT ELECT OPEN POSITIONS FOR BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation3A COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER FOR REVIEW. AFTER REVIEW AND DISCUSSION, THE FORM IS APPROVED FOR RREMITTANCE TO THE IRS.
IRS990ScheduleO/GeneralExplanation/Explanation4ALL BOARD OF DIRECTORS ARE REQUIRED TO FILE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE CREDIT UNION MONITORS THESE STATEMENTS TO DETERMINE ANY OUTSIDE ENTITY ACTIVITY AND THE NATURE OF SUCH INTERESTS.
IRS990ScheduleO/GeneralExplanation/Explanation5BOARD OF DIRECTORS REVIEW THE COMPENSATION PAID TO THEIR PRESIDENT/CEO ON AN ANNUAL BASIS AND COMPARES COMPENSATION LEVELS AGAINSTG INDUSTRY STANDARDS, CREDIT UNION SIZE, AND SERVICES. ALL DELIBERATIONS ARE FORMALLY RECORDED IN APPROPRIATE OFFICIAL MINUTES. THE PRESIDENT IS RESPONSIBLE FOR REVIEW OF KEY EMPLOYEES AND STAFF.
IRS990ScheduleO/GeneralExplanation/Explanation6THE CREDIT UNION POSTS ITS FINANCIAL STATEMENTS IN THE CREDIT UNION LOBBY FOR ALL MEMBERS TO REVIEW. THE GOVERNANCE DOCUMENTS ARE AVAILABLE IN THE CREDIT UNION OFFICE FOR REVIEW UPON REQUEST.
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IRS990/YearFormation01952
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/Filer/EIN0741250330
ReturnHeader/Filer/Name/BusinessNameLine10FREESTONE CREDIT UNION
ReturnHeader/Filer/NameControl0FREE
ReturnHeader/Filer/Phone02547392594
ReturnHeader/Filer/USAddress/AddressLine10613 MAIN ST
ReturnHeader/Filer/USAddress/City0TEAGUE
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode075860
ReturnHeader/Officer/AuthorizeThirdParty0true
ReturnHeader/Officer/DateSigned02013-04-20
ReturnHeader/Officer/Name0DEANNE HARRIS
ReturnHeader/Officer/Phone02547392594
ReturnHeader/Officer/Title0PRESIDENT/CEO
ReturnHeader/Preparer/DatePrepared02013-04-20
ReturnHeader/PreparerFirm/PreparerFirmBusinessName/BusinessNameLine10LEMA & ASSOCIATES
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/AddressLine10610 E MARKET ST STE 2906
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/City0SAN ANTONIO
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/State0TX
ReturnHeader/PreparerFirm/PreparerFirmUSAddress/ZIPCode078205
ReturnHeader/Preparer/Name0ANGEL R LEMA CPA
ReturnHeader/Preparer/Phone02102124822
ReturnHeader/Preparer/SelfEmployed0X
ReturnHeader/ReturnType0990
ReturnHeader/TaxPeriodBeginDate02012-01-01
ReturnHeader/TaxPeriodEndDate02012-12-31
ReturnHeader/TaxYear02012
ReturnHeader/Timestamp02013-04-20T16:12:36-05:00

Document Assets

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$34,852,253
Liabilities
$31,481,574
Net assets
$3,370,679
Revenue
-
Expenses
$1,306,080
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$66.4$59.6$6.89$3.46$2.67$0.80
2023Detailed filing. Detailed filing data is available for this year.$58.1$52.0$6.09$2.62$2.07$0.56
2022Detailed filing. Detailed filing data is available for this year.$54.2$48.6$5.55$2.26$1.70$0.56
2021Detailed filing. Detailed filing data is available for this year.$52.3$47.3$4.99$2.07$1.71$0.36
2020Detailed filing. Detailed filing data is available for this year.$45.1$40.5$4.63$1.94$1.67$0.27
2019Detailed filing. Detailed filing data is available for this year.$43.5$39.2$4.36$2.01$1.71$0.30
2018Detailed filing. Detailed filing data is available for this year.$40.6$36.4$4.18$1.88$1.62$0.25
2017Detailed filing. Detailed filing data is available for this year.$40.5$36.6$3.93$1.79$1.70$0.09
2016Detailed filing. Detailed filing data is available for this year.$38.8$34.9$3.84$1.84$1.62$0.21
2015Detailed filing. Detailed filing data is available for this year.$40.0$36.4$3.61$1.78$1.67$0.10
2014Detailed filing. Detailed filing data is available for this year.$39.1$35.6$3.50$1.64$1.51$0.12
2013Detailed filing. Detailed filing data is available for this year.$36.2$32.9$3.38$1.49$1.48$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.9$31.5$3.37$1.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.5$32.2$3.21$1.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.4$31.4$3.02$1.60