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Light Commerce Credit Union FY2020 filing

Houston, TXMutual-benefit / member-servingSince 2004Mutual / membership EIN 03-0505731Revenue $331K in FY2020

On file with the IRSlightcommercecu.org1535 Greensmark Dr, 77067-4020 · Houston, TXTax-exempt since Jun 1976

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Provide highest level of customer service. Emphasis on being responsive to member needs. Encourage better quality of life for our members producing a better quality cu through member education and competitive products.

Mission: Form 990 Part I, line 1

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $124K a year · 48% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
-105%
of spending
Concern: -105% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Plus $1.6M in investments, Pt X · Ln 11–13
Looks good: 9.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $55K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.2M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$331K
Spent
$121K
To programs
-105%
Net assets
$677K
By yearFY2020–FY2025
Revenue
$331K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$331K
FY2021$59K
FY2022$230K
FY2023$288K
FY2024$314K
FY2025$334K
Expenses
$121K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$121K
FY2021$30K
FY2022$158K
FY2023$173K
FY2024$197K
FY2025$136K
Net assets
$677K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$677K
FY2021$812K
FY2022$855K
FY2023$971K
FY2024$1.1M
FY2025$1.3M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1976.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dr Bridget Hilliard
Vice-Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Light Commerce Credit Union executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates members and offers competitive products to improve quality of life and service.

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3 programs · in their own filed words · FY2020
01

No significant accomplishments during current tax year.

Pt IX · col B
02

No significant accomplishments during current tax year.

Pt IX · col B
03

Core conversion and debit card flip in year 2017.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Local Initiatives Support CorporationFY2024$40K
Inclusiv INCFY2024$15K
Total grants receivedfrom 2 funders$55K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$331K
Ln 12
Fees for servicesLn 2g$200K
Gifts and grantsLn 1h$125K
Other incomeLn 4–11$5K
Money outPt IX
$121K
Ln 25
Owns and owesPt X
$677K
net assets · Ln 32
Cash and savingsLn 1–2$94K
Total assetsLn 16$3.9M
LiabilitiesLn 26$3.2M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$125K
Government grantsLn 1e$125K
Fees for servicesLn 2g$200K
Investment incomeLn 3$1K
Other incomeLn 4–11$5K
Total revenueLn 12$331K
Assets in detailPt X, end of year
CashLn 1$94K
Cash and savings togetherLn 1–2$94K
InvestmentsLn 11–13$1.6M
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$6K
Total assetsLn 16$3.9M
LiabilitiesLn 26$3.2M
Net assetsLn 32$677K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$42K$94K
InvestmentsLn 11–13$437K$1.6M
Land, buildings, equipmentLn 10c$5K$3K
Total assetsLn 16$2.8M$3.9M
LiabilitiesLn 26$2.2M$3.2M
Net assetsLn 32$592K$677K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$4K$0
Other salaries and wagesLn 7$119K$0$0$0
Other fees for servicesLn 11g$7K$0$0$0
Advertising and promotionLn 12$3K$0$0$0
Office expensesLn 13$64K$0$0$0
Conferences, conventions and meetingsLn 19$829$0$0$0
Depreciation, depletion and amortizationLn 22$1K$0$0$0
InsuranceLn 23$7K$0$0$0
Other expenses (24a–d)Ln 24$42K$0$0$0
All other expensesLn 24e−$127K−$127K$0$0
Total functional expensesLn 25$121K−$127K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $334K$136K$198K$1.3M 990 PDF
FY2024 $314K$197K$117K$1.1M 990 PDF
FY2023 $288K$173K$116K$971K 990 PDF
FY2022 $230K$158K$72K$855K 990 PDF
FY2021 $59K$30K$29K$812K 990 PDF
FY2020 Viewing $331K$121K$210K$677K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $331,199 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $124,576$125,000
I-9 Program service revenuePrior year $195,954$200,191
I-10 Investment incomePrior year $3,446$1,110
I-11 Other revenue$4,898
I-12 Total revenuePrior year $323,976$331,199
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $3,203$4,212
I-15 Salaries and benefitsPrior year $110,018$119,136
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $9,065−$2,271
I-18 Total expensesPrior year $122,286$121,077
I-19 Revenue less expensesPrior year $201,690$210,122
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $331,199 across 5 lines filed
Lines not itemized here account for $4,898 of total revenue; see the IRS return.
VIII-1e Government grants$125,000
VIII-1h Total contributions, gifts and grants$125,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$200,191
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $1,110$1,110
VIII-12 Total revenueRelated to mission $200,191 · Unrelated business $0 · Excluded from tax $6,008$331,199
Part IX · Statement of functional expenses $121,077 across 10 lines filed
IX-4 Benefits paid to or for membersPrograms $0$4,212
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$119,136
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$6,750
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$3,334
IX-13 Office expensesPrograms $0 · Management $0 · Fundraising $0$63,862
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$829
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$1,322
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$6,846
IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$42,078
IX-24e All other expensesPrograms −$127,292 · Management $0 · Fundraising $0−$127,292
IX-25 Total functional expensesPrograms −$127,292 · Management $0 · Fundraising $0$121,077
Part X · Balance sheet $3,870,513 assets, 11 lines filed
Asset lines not itemized here account for $2,196,349; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $41,954$94,380
X-9 Prepaid expenses and deferred chargesStart of year $8,846$5,050
X-10c Land, buildings and equipment, netStart of year $4,679$3,357
X-13 Program-related investmentsStart of year $436,527$1,565,434
X-15 Other assetsStart of year $8,327$5,943
X-16 Total assetsStart of year $2,784,916$3,870,513
X-17 Accounts payable and accrued expensesStart of year $149,189$26,751
X-25 Other liabilitiesStart of year $2,043,954$3,166,865
X-26 Total liabilitiesStart of year $2,193,143$3,193,616
X-32 Total net assets or fund balancesStart of year $591,773$676,897
X-33 Total liabilities and net assetsStart of year $2,784,916$3,870,513
Part XI · Reconciliation of net assets $676,897 net assets at year end
XI-1 Total revenue$331,199
XI-2 Total expenses$121,077
XI-3 Revenue less expenses$210,122
XI-4 Net assets at start of year$591,773
XI-10 Net assets at end of year$676,897

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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