Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.91x
Liabilities / Revenue
62nd percentile
Higher debt load relative to revenue than 62% of similar nonprofits.
Net Margin
51st percentile
Higher net margin than 51% of similar nonprofits.
Top Officer Pay
7th percentile
Higher top officer pay than 7% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
90th percentile
Faster asset growth than 90% of similar nonprofits.
Revenue Growth
91st percentile
Faster revenue growth than 91% of similar nonprofits.
Balance Sheet
Assets
Up$39,062,057
Up $2,820,853 (+7.8%) from 2013
Net Assets
Up$3,501,898
Up $124,346 (+3.7%) from 2013
Liabilities
Up$35,560,159
Up $2,696,507 (+8.2%) from 2013
Revenue And Expenses
Revenue
Up$1,637,875
Up $151,488 (+10%) from 2013
Expenses
Up$1,513,529
Up $34,015 (+2.3%) from 2013
Net Income
Up$124,346
Up $117,473 (+1709%) from 2013
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2014 to Dec 31, 2014
- Signed
- Feb 3, 2015
- Return Version
- 2014v5.0
- Gross Receipts
- $1,637,875
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.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Other Notes and Loans Receivable, Net | $15,782,367 | $19,548,639 | ▲ $3,766,272 |
| Investments Program Related | $17,837,597 | $16,674,064 | ▼ $1,163,533 |
| Rtn Earn Endowment Incm Other Fnds | $3,377,552 | $3,501,898 | ▲ $124,346 |
| Land, Buildings, and Equipment, Net | $1,652,055 | $1,591,894 | ▼ $60,161 |
| Cash and Non-Interest-Bearing Accounts | $811,621 | $1,058,854 | ▲ $247,233 |
| Prepaid Expenses and Deferred Charges | $78,342 | $69,698 | ▼ $8,644 |
| Accounts Receivable | - | $19,242 | - |
| Total Assets | $36,241,204 | $39,062,057 | ▲ $2,820,853 |
| Other Assets Total | $79,222 | $99,666 | ▲ $20,444 |
| Liabilities | |||
| Other Liabilities | $32,639,526 | $35,395,701 | ▲ $2,756,175 |
| Accounts Payable and Accrued Expenses | $224,126 | $164,458 | ▼ $59,668 |
| Total Liabilities | $32,863,652 | $35,560,159 | ▲ $2,696,507 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $3,377,552 | $3,501,898 | ▲ $124,346 |
| Total Liabilities and Net Assets / Fund Balance | $36,241,204 | $39,062,057 | ▲ $2,820,853 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,128,204 | $453,473 | $1,581,677 |
| Equipment | $206,713 | $806,106 | $1,012,819 |
| Land | $256,977 | - | $256,977 |
| Investment Program Related Org | $-632,513 | - | - |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Fred H Neale | Chairman |
| Nancy Roberts | Vice Chairma |
| Jean Tackett | Director |
| Kenneth Allen | Director |
| Mary Lee | Director |
| Mike Griffen | Director |
| Jerry Morris | Secretary/tr |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $1,456,100
- Investment Income
- $181,775
- Other Revenue
- $0
- Change in Net Assets
- $124,346
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $783,998 |
| Salaries, Compensation, and Employee Benefits | $662,205 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $586,518 | - | - | $586,518 |
| Office Expenses | $355,567 | - | - | $355,567 |
| Fees for Services Other | $127,750 | - | - | $127,750 |
| Depreciation Depletion | $94,133 | - | - | $94,133 |
| Occupancy | $84,962 | - | - | $84,962 |
| Other Employee Benefits | $75,687 | - | - | $75,687 |
| Benefits to Members | $67,326 | - | - | $67,326 |
| Advertising | $44,823 | - | - | $44,823 |
| Conferences and Meetings | $18,119 | - | - | $18,119 |
| Other Expenses | $-5,141 | - | - | $-5,141 |
| All Other Expenses | $-10,000 | - | - | $-10,000 |
| Total Functional Expenses | $1,513,529 | $0 | $0 | $1,513,529 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Member Shares/deposits | $35,395,701 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- 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
- No
- Other officer compensation reviewed
- Yes
- 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, Page 6, Part VI, Line 6
“Credit union is comprised of owner/members formed from a common field of membership with each members having paid an approved minimum membership fee.”
Form 990, Page 6, Part VI, Line 7A
“The members hold annual meetings at which time the members present elect open positions for board of directors.”
Form 990, Page 6, Part VI, Line 11B
“A 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.”
Form 990, Page 6, Part VI, Line 12C
“All 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.”
Form 990, Page 6, Part VI, Line 15B
“Board 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.”
Form 990, Page 6, Part VI, Line 19
“The 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.”
Filing and Contact Details
Filer
- Filer Name
- Freestone Credit Union
- EIN
- 74-1250330
- Phone
- 2547392594
- Address
- 613 MAIN ST, TEAGUE, TX 75860
Signing Officer
- Name
- Deanne Harris
- Title
- President/CEO
- Phone
- 2547392594
- Signed
- 2015-02-03
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Deanne Harris President
- Formed
- 1952
- Legal Domicile
- TX
- Voting Board Members
- 7
- Independent Board Members
- 7
- Employees
- 27
Preparer
- Firm
- Lema & Associates
- Address
- 610 E MARKET ST STE 2906, SAN ANTONIO, TX 78205-2680
- Preparer
- Angel R Lema CPA
- Phone
- 2102124822
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S 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.”
Form 990, Page 2, Part III, Line 4D
“Refer to exempt purpose accomplishments itemized in part iii, page 2 of report.”
Raw XML Appendix377 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/AccountsReceivableGrp/EOYAmt | 0 | 19242 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | -10000 |
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| IRS990/ConsolidatedAuditFinclStmtInd | 0 | false |
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| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 94133 |
| IRS990/Desc | 0 | INCREASED SHARE/DEPOSIT ACCOUNTS BY 2,756,175.00 |
| IRS990/DescribedInSection501c3Ind | 0 | false |
| IRS990/DisregardedEntityInd | 0 | false |
| IRS990/DocumentRetentionPolicyInd | 0 | true |
| IRS990/DonorAdvisedFundInd | 0 | false |
| IRS990/ElectionOfBoardMembersInd | 0 | true |
| IRS990/EmployeeCnt | 0 | 27 |
| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/FamilyOrBusinessRlnInd | 0 | false |
| IRS990/FederalGrantAuditRequiredInd | 0 | false |
| IRS990/FeesForServicesOtherGrp/ProgramServicesAmt | 0 | 127750 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 127750 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 1.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
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| IRS990/Form990PartVIISectionAGrp/OfficerInd | 1 | X |
| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 6 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | NANCY ROBERTS |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | JERRY MORRIS |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | MARY LEE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | JEAN TACKETT |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | MIKE GRIFFEN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | KENNETH ALLEN |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1952 |
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| IRS990/FSAuditedInd | 0 | true |
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| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
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| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | false |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndoorTanningServicesInd | 0 | false |
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| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 181775 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsProgramRelatedGrp/BOYAmt | 0 | 17837597 |
| IRS990/InvestmentsProgramRelatedGrp/EOYAmt | 0 | 16674064 |
| IRS990/IRPDocumentCnt | 0 | 510 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 1652055 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 1591894 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 2851473 |
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| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | true |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | 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. |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 3501898 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NondeductibleContributionsInd | 0 | false |
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| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 355567 |
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| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 75687 |
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| IRS990/OtherExpensesGrp/Desc | 2 | ASSOCIATION DUES |
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| IRS990/OtherExpensesGrp/TotalAmt | 2 | 11996 |
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| IRS990/PoliticalCampaignActyInd | 0 | false |
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| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 69698 |
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| IRS990/ProfessionalFundraisingInd | 0 | false |
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| IRS990/ProgramServiceRevenueGrp/Desc | 1 | FEES AND CHARGES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | MISCELLANEOUS INCOME |
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| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 380626 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 7820 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | INCREASED LOANS BY 3,732,983.00 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | OPENED A THIRD BRANCH OFFICE TO SERVE THE EMLOYEES OF NUCOR STEEL IN JEWETT, TEXAS. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | REFER TO EXEMPT PURPOSE ACCOMPLISHMENTS ITEMIZED IN PART III, PAGE 2 OF REPORT. |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 0 | 1513529 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
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| IRS990/PYInvestmentIncomeAmt | 0 | 168647 |
| IRS990/PYOtherExpensesAmt | 0 | 718965 |
| IRS990/PYOtherRevenueAmt | 0 | 14517 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 1303223 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 6873 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 650642 |
| IRS990/PYTotalExpensesAmt | 0 | 1479514 |
| IRS990/PYTotalRevenueAmt | 0 | 1486387 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 124346 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | true |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 3377552 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 3501898 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 1128204 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 453473 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 1581677 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 206713 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 806106 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 1012819 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 0 | 7367464 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 1 | 4764000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 2 | 4328756 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 3 | 325589 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 4 | 250000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 5 | 144731 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 6 | 123466 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 7 | 59182 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 8 | 9000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 9 | 2000 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 10 | -67611 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt | 11 | -632513 |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 0 | FEDERAL SECURITIES` |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 1 | CERTIFICATES OF DEPOSIT |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 2 | CASH MANAGEMENT |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 3 | NCUSIF DEPOSIT |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 4 | RESERVE ACCOUNT |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 5 | SWC UNCOLLECTED FUNDS |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 6 | P D/FED SEC J CD'S |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 7 | CAPITAL SHARES |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 8 | TNB PLASTIC CARD RESERVES ` |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 9 | TNB RESERVES |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 10 | ATM SUSPENSE-CLEARING |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc | 11 | ACH DEBITS CREDITS |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 0 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 1 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 2 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 3 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 4 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 5 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 6 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 7 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 8 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 9 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 10 | C |
| IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd | 11 | C |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 256977 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 256977 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 35395701 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | MEMBER SHARES/DEPOSITS |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1591894 |
| IRS990ScheduleD/TotalBookValueProgramRltdAmt | 0 | 16674064 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 35395701 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | REFER TO EXEMPT PURPOSE ACCOMPLISHMENTS ITEMIZED IN PART III, PAGE 2 OF REPORT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | CREDIT UNION IS COMPRISED OF OWNER/MEMBERS FORMED FROM A COMMON FIELD OF MEMBERSHIP WITH EACH MEMBERS HAVING PAID AN APPROVED MINIMUM MEMBERSHIP FEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE MEMBERS HOLD ANNUAL MEETINGS AT WHICH TIME THE MEMBERS PRESENT ELECT OPEN POSITIONS FOR BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | A 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/SupplementalInformationDetail/ExplanationTxt | 5 | ALL 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/SupplementalInformationDetail/ExplanationTxt | 6 | BOARD 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/SupplementalInformationDetail/ExplanationTxt | 7 | THE 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. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 36241204 |
| IRS990/TotalAssetsEOYAmt | 0 | 39062057 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 36241204 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 39062057 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 27 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 1513529 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 1513529 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 32863652 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 35560159 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 32863652 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 35560159 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 3377552 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 3501898 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 1513529 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 1513529 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 1456100 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 181775 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1456100 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 1637875 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 36241204 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 39062057 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 613 MAIN ST |
| IRS990/USAddress/CityNm | 0 | TEAGUE |
| IRS990/USAddress/StateAbbreviationCd | 0 | TX |
| IRS990/USAddress/ZIPCd | 0 | 75860 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 7 |
| IRS990/VotingMembersIndependentCnt | 0 | 7 |
| IRS990/WebsiteAddressTxt | 0 | HTTP://FREESTONECU.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | true |
| ReturnHeader/BuildTS | 0 | 2016-02-25 16:41:14Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | DEANNE HARRIS |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT/CEO |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 2547392594 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2015-02-03 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | FREESTONE CREDIT UNION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FREE |
| ReturnHeader/Filer/EIN | 0 | 741250330 |
| ReturnHeader/Filer/PhoneNum | 0 | 2547392594 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 613 MAIN ST |
| ReturnHeader/Filer/USAddress/CityNm | 0 | TEAGUE |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | TX |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 75860 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | LEMA & ASSOCIATES |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 610 E MARKET ST STE 2906 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | SAN ANTONIO |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | TX |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 782052680 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 2102124822 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2015-02-20 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | ANGEL R LEMA CPA |
| ReturnHeader/PreparerPersonGrp/SelfEmployedInd | 0 | X |
| ReturnHeader/ReturnTs | 0 | 2015-02-20T19:58:50-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2014-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2014-12-31 |
| ReturnHeader/TaxYr | 0 | 2014 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2014 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $39,062,057
- Liabilities
- $35,560,159
- Net assets
- $3,501,898
- Revenue
- $1,637,875
- Expenses
- $1,513,529
- Net income
- $124,346