Civic Intelligence

Ward County Credit Union

990 • Fiscal year 2013 • EIN 75-1085796

Jan 01, 2013 to Dec 31, 2013 • Filed on Apr 29, 2014

Organization Profilewww.wctcu.net

View Organization Page

301 South MainMonahans, TX 79756

(432) 943-3445

Siviq Scores

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

Liabilities / Assets

86th percentile

0.91x

Higher debt load relative to assets than 86% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

47th percentile

19.25x

Higher debt load relative to revenue than 47% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

57th percentile

5.7%

Higher net margin than 57% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

42nd percentile

$64,955

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

65th percentile

3.4%

Faster asset growth than 65% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$15,769,087

Up $524,890 (+3.4%) from 2012

Net Assets

Up

$1,365,672

Up $42,400 (+3.2%) from 2012

Liabilities

Up

$14,403,415

Up $482,490 (+3.5%) from 2012

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin57th percentile

Revenue

$748,129

No earlier filing loaded for comparison.

Expenses

Up

$705,729

Up $59,556 (+9.2%) from 2012

Net Income

$42,400

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $11,123,916Liabilities 2010: $9,988,766Net Assets 2010: $1,135,1502010Assets 2011: $14,034,007Liabilities 2011: $12,819,884Net Assets 2011: $1,214,1232011Assets 2012: $15,244,197Liabilities 2012: $13,920,925Net Assets 2012: $1,323,2722012Assets 2013: $15,769,087Liabilities 2013: $14,403,415Net Assets 2013: $1,365,6722013Assets 2014: $16,165,938Liabilities 2014: $14,787,864Net Assets 2014: $1,378,0742014Assets 2015: $15,898,248Liabilities 2015: $14,470,622Net Assets 2015: $1,427,6262015Assets 2016: $15,527,087Liabilities 2016: $14,109,269Net Assets 2016: $1,417,8182016Assets 2017: $15,687,707Liabilities 2017: $14,250,466Net Assets 2017: $1,437,2412017Assets 2018: $16,349,499Liabilities 2018: $14,900,024Net Assets 2018: $1,449,4752018Assets 2019: $17,490,726Liabilities 2019: $16,023,681Net Assets 2019: $1,467,0452019Assets 2020: $19,395,278Liabilities 2020: $17,871,759Net Assets 2020: $1,523,5192020Assets 2021: $18,363,115Liabilities 2021: $16,797,012Net Assets 2021: $1,566,1032021

Highlighted filing

2013

Assets$15,769,087
Liabilities$14,403,415
Net Assets$1,365,672
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $715,8092010Expenses 2011: $625,4142011Expenses 2012: $646,1732012Revenue 2013: $748,129Expenses 2013: $705,729Net Income 2013: $42,4002013Revenue 2014: $735,740Expenses 2014: $723,338Net Income 2014: $12,4022014Revenue 2015: $701,470Expenses 2015: $675,861Net Income 2015: $25,6092015Revenue 2016: $622,230Expenses 2016: $632,038Net Income 2016: -$9,8082016Revenue 2017: $603,813Expenses 2017: $584,390Net Income 2017: $19,4232017Revenue 2018: $648,268Expenses 2018: $636,034Net Income 2018: $12,2342018Revenue 2019: $697,431Expenses 2019: $679,861Net Income 2019: $17,5702019Revenue 2020: $690,256Expenses 2020: $633,782Net Income 2020: $56,4742020Revenue 2021: $640,973Expenses 2021: $598,389Net Income 2021: $42,5842021

Highlighted filing

2013

Revenue$748,129
Expenses$705,729
Net Income$42,400
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Apr 29, 2014
Return Version
2013v3.0
Gross Receipts
$748,867
Mission and Program Overview

Mission

WCCU was chartered for the purpose of encouraging thrift among its members, creating a source of credit at fair and reasonable rates of interest.

Ward County Teachers Credit Union is a cooperative thrift institution and is a member of the National Credit Union Administration Insurance Fund. The Credit Union is regulated by the State of Texas Credit Union Department as well as the National Credit Union Asministration. The WCTCU offers products and services in four primary areas: share accounts, checking accounts, consumer loans, and real estate loans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$8,636,101$8,605,025▼ $31,076
Other Notes and Loans Receivable, Net$4,547,871$5,216,975▲ $669,104
Cash and Non-Interest-Bearing Accounts$1,466,463$1,394,665▼ $71,798
Rtn Earn Endowment Incm Other Fnds$1,323,272$1,365,672▲ $42,400
Land, Buildings, and Equipment, Net$351,803$324,963▼ $26,840
Accounts Receivable$64,772$50,685▼ $14,087
Prepaid Expenses and Deferred Charges$46,735$35,268▼ $11,467
Inventories for Sale or Use$2,642$2,642→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$15,244,197$15,769,087▲ $524,890
Other Assets Total$127,810$138,864▲ $11,054
Liabilities
Other Liabilities$13,886,372$14,363,802▲ $477,430
Accounts Payable and Accrued Expenses$34,553$39,613▲ $5,060
Total Liabilities$13,920,925$14,403,415▲ $482,490
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,323,272$1,365,672▲ $42,400
Total Liabilities and Net Assets / Fund Balance$15,244,197$15,769,087▲ $524,890

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$296,743$264,541$561,284
Land$28,220-$28,220
Other Securities$8,605,025--
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Terrolyn Kay RankinManager/CEOFT$64,955$64,955

Board Members and Trustees

NameTitle
Loredia PottsChairperson
Steve TuxhornVice Chairman
Amy BoysawBoard Member
Doug RoeberBoard Member
Nancy UpchurchBoard Member
Vicki LeyvaBoard Member
Arcadio RiveraSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$496,567
Investment Income
$232,753
Other Revenue
$18,809
Change in Net Assets
$42,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$438,612
Salaries, Compensation, and Employee Benefits$267,117
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$146,482
Current Officers, Directors, Trustees, and Key Employees---$64,955
Interest---$50,039
Information Technology---$41,655
Depreciation Depletion---$36,999
Office Expenses---$35,463
Occupancy---$31,191
Advertising---$29,576
Other Employee Benefits---$26,868
Fees for Services Accounting---$26,413
Fees for Services Other---$19,309
Conferences and Meetings---$18,308
Payroll Taxes---$15,774
Insurance---$13,384
Pension Plan Contributions---$13,038
Other Expenses---$6,780
Travel---$3,104
Fees for Services Legal---$520
Total Functional Expenses$0$0$0$705,729
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members shares$14,363,802
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section B, line 11

“A copy of the Form 990 was provided to each member of Ward County Teacher's Credit Union's governing body for review. Questions and comments are then submitted to the CEO for further discussion with the Form 990 preparer and follow-up response back to the governing body for a final approval.”

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

“All officers, directors and key employees are required to file an annual conflict of interest disclosure statement.”

Form 990, Part VI, Section C, line 19

“Ward County Teacher's Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
75-1085796
Phone
4329433445

Signing Officer

Name
Kay Rankin-Swan
Title
Manager
Phone
4329433445
Signed
2014-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Rankin-Swan
Formed
1953
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
9
Volunteers
0

Preparer

Preparer
Terry R Smith
Phone
4329437516
Raw XML Appendix350 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/ActivityOrMissionDesc0Ward County Teachers Credit Union is a cooperative thrift institution and is a member of the National Credit Union Administration Insurance Fund. The Credit Union is regulated by the State of Texas Credit Union Department as well as the National Credit Union Asministration. The WCTCU offers products and services in four primary areas: share accounts, checking accounts, consumer loans, and real estate loans.
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IRS990/Desc0Share accounts - WCTCU's share accounts offer advantages to members of all ages. WCTCU had 1,534 member-owner accounts on December 31, 2013. Member savings accounts pay dividends monthly and offer access through branch network, home banking via the internet or telephone and ATMs worldwide. Special savings accounts designed for children and teenagers encourage the development of consistent savings habits.
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IRS990/MissionDesc0The Ward County Teacher's Credit Union of Monahans, Texas was chartered for the purpose of encouraging thrift among it members, creating a source of credit at fair and reasonable rates of interest, providing an opportunity for its members to use and control their own money to improve their economic and social conditions.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Checking accounts - WCTCU provides checking accounts for consumers with various features, from free accounts to those with enhanced benefits. Most offer dividends that are paid monthly. Additionally, WCTCU extends the reach of these accounts to all members with free debit cards, internet account access and free use of the internet bill payer platform.
IRS990/ProgSrvcAccomActy3Grp/Desc0Consumer loans - Ward County Teacher's Credit Union has provided vehicle loans since its early years. The consumer loan product now includes efficient underwriting and flexible offerings for recreational vehicles, boats and motorcycles. Consumer life and disability insurance is available on any of these loan types.
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IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0296743
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0264541
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0561284
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt014363802
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Members shares
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt08605025
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Time deposits at various banks
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0324963
IRS990ScheduleD/TotalBookValueSecuritiesAmt08605025
IRS990ScheduleD/TotalLiabilityAmt014363802
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 was provided to each member of Ward County Teacher's Credit Union's governing body for review. Questions and comments are then submitted to the CEO for further discussion with the Form 990 preparer and follow-up response back to the governing body for a final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All officers, directors and key employees are required to file an annual conflict of interest disclosure statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Ward County Teacher's Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt015244197
IRS990/TotalAssetsEOYAmt015769087
IRS990/TotalAssetsGrp/BOYAmt015244197
IRS990/TotalAssetsGrp/EOYAmt015769087
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt09
IRS990/TotalFunctionalExpensesGrp/TotalAmt0705729
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013920925
IRS990/TotalLiabilitiesEOYAmt014403415
IRS990/TotalLiabilitiesGrp/BOYAmt013920925
IRS990/TotalLiabilitiesGrp/EOYAmt014403415
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01323272
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01365672
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0496567
IRS990/TotalReportableCompFromOrgAmt064955
IRS990/TotalRevenueGrp/ExclusionAmt0232753
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0515376
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0748129
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015244197
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015769087
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt03104
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10301 South Main
IRS990/USAddress/City0Monahans
IRS990/USAddress/State0TX
IRS990/USAddress/ZIPCode079756
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.wctcu.net
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Kay Rankin-Swan
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum04329433445
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-29
ReturnHeader/Filer/BusinessName/BusinessNameLine10Ward County Teachers Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0WARD
ReturnHeader/Filer/EIN0751085796
ReturnHeader/Filer/PhoneNum04329433445
ReturnHeader/Filer/USAddress/AddressLine10301 South Main
ReturnHeader/Filer/USAddress/City0Monahans
ReturnHeader/Filer/USAddress/State0TX
ReturnHeader/Filer/USAddress/ZIPCode079756
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0752845372
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Smith & Rives PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO Box 640
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Monahans
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode079756
ReturnHeader/PreparerPersonGrp/PhoneNum04329437516
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Terry R Smith
ReturnHeader/ReturnTs02014-04-30T10:36:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,769,087
Liabilities
$14,403,415
Net assets
$1,365,672
Revenue
$748,129
Expenses
$705,729
Net income
$42,400
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$18.4$16.8$1.57$0.64$0.60$0.04
2020Detailed filing. Detailed filing data is available for this year.$19.4$17.9$1.52$0.69$0.63$0.06
2019Detailed filing. Detailed filing data is available for this year.$17.5$16.0$1.47$0.70$0.68$0.02
2018Detailed filing. Detailed filing data is available for this year.$16.3$14.9$1.45$0.65$0.64$0.01
2017Detailed filing. Detailed filing data is available for this year.$15.7$14.3$1.44$0.60$0.58$0.02
2016Detailed filing. Detailed filing data is available for this year.$15.5$14.1$1.42$0.62$0.63$0.01
2015Detailed filing. Detailed filing data is available for this year.$15.9$14.5$1.43$0.70$0.68$0.03
2014Detailed filing. Detailed filing data is available for this year.$16.2$14.8$1.38$0.74$0.72$0.01
2013Detailed filing. Detailed filing data is available for this year.$15.8$14.4$1.37$0.75$0.71$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$13.9$1.32$0.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$12.8$1.21$0.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$9.99$1.14$0.72