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Self-Help Credit Union FY2021 filing

Not tax-deductible

Durham, NCMutual-benefit / member-servingSince 1983EIN 56-1382971Revenue $52.3M in FY2021

On file with the IRSself-help.orgPo Box 3619, 27702-3619 · Durham, NCTax-exempt since Aug 1969

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Our mission is to create ownership and economic opportunities for all, especially people of color, women, rural residents,low-wealth families and communities. We provided loans to members at reasonable rates and pay competitive rates of interest to members.

$219K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $20.0M a year · 26% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$219K
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
145 mo
of spending, in cash
Looks good: 144.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $820K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1B
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 17 voting members
Looks good: 15 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$52.3M
-8% vs prior year
Spent
$41.0M
To programs
0%
Net assets
$198.0M
By yearFY2020–FY2024
Revenue
$52.3M
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$56.8M
FY2021$52.3M
FY2022$77.9M
FY2023$92.8M
FY2024$102.2M
Expenses
$41.0M
FY2021▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2020$51.0M
FY2021$41.0M
FY2022$49.7M
FY2023$63.1M
FY2024$77.2M
Net assets
$198.0M
FY2021▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$178.7M
FY2021$198.0M
FY2022$247.8M
FY2023$239.3M
FY2024$262.9M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1969.

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

Who runs it and what they're paid

17 people listed on the 990; $219K paid to officers and key staff.

Part VII, Section A · reportable compensation
Martin Eakes
Ceodirector
$85,878Pt VII · Sec A
$84,556Pt VII · Sec A
Samantha Pratt
Directorstaff
$48,630Pt VII · Sec A
$0Pt VII · Sec A
Thomas King
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ivan Parra
Director
$0Pt VII · Sec A
Alan Reberg
Director
$0Pt VII · Sec A
See Self-Help 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides loans and competitive interest to create economic opportunities for underserved communities.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Provided consumer, mortgage and business loan to members at reasonable rates. A total of 3,773 loans were originated in 2021. Provided services and paid competitive rates of interest to members. Total members served 87,771.

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
Center for Community Self-HelpFY2024$820K
Total grants receivedfrom 1 funder$820K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$52.3M
Ln 12
Fees for servicesLn 2g$49.0M
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$1.3M
Money outPt IX
$41.0M
Ln 25
Owns and owesPt X
$198.0M
net assets · Ln 32
Cash and savingsLn 1–2$494.1M
Total assetsLn 16$1.3B
LiabilitiesLn 26$1.1B
PeoplePt VI, VII
17
listed · VII A
PaidVII A3
Voting boardVI 1a17
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Fees for servicesLn 2g$49.0M
Investment incomeLn 3$1.3M
Total revenueLn 12$52.3M
Assets in detailPt X, end of year
CashLn 1$6.5M
SavingsLn 2$487.6M
Cash and savings togetherLn 1–2$494.1M
InvestmentsLn 11–13$16.2M
Land, buildings, equipmentLn 10c$39.0M
Other assetsLn 15$24.6M
Total assetsLn 16$1.3B
LiabilitiesLn 26$1.1B
Net assetsLn 32$198.0M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$442.8M$494.1M
InvestmentsLn 11–13$20.1M$16.2M
Land, buildings, equipmentLn 10c$33.7M$39.0M
Total assetsLn 16$1.28B$1.34B
LiabilitiesLn 26$1.10B$1.14B
Net assetsLn 32$178.7M$198.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$24K
Accounting feesLn 11c$93K
Advertising and promotionLn 12$301K
Office expensesLn 13$3.5M
Information technologyLn 14$1.2M
OccupancyLn 16$2.5M
TravelLn 17$111K
Conferences, conventions and meetingsLn 19$40K
InterestLn 20$8.9M
Depreciation, depletion and amortizationLn 22$1.4M
InsuranceLn 23$137K
Other expenses (24a–d)Ln 24$20.3M$2.9M$17.5M
All other expensesLn 24e$2.4M
Total functional expensesLn 25$41.0M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $102.2M$77.2M$25.0M$262.9M 990 PDF
FY2023 $92.8M$63.1M$29.8M$239.3M 990 PDF
FY2022 $77.9M$49.7M$28.2M$247.8M 990 PDF
FY2021 Viewing $52.3M$41.0M$11.3M$198.0M 990 PDF
FY2020 $56.8M$51.0M$5.8M$178.7M 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 FY2021 990 (6 parts)
Part I · Summary $52,319,101 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $359,750$1,977,291
I-9 Program service revenuePrior year $53,834,305$48,997,312
I-10 Investment incomePrior year $2,559,345$1,344,498
I-11 Other revenue$0
I-12 Total revenuePrior year $56,753,400$52,319,101
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $50,964,953$40,972,922
I-18 Total expensesPrior year $50,964,953$40,972,922
I-19 Revenue less expensesPrior year $5,788,447$11,346,179
Part VI · Governance 15 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $52,319,101 across 5 lines filed
VIII-1d Related organizations$1,977,291
VIII-1h Total contributions, gifts and grants$1,977,291
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $48,840,796 · Unrelated business $156,516$48,997,312
VIII-3 Investment incomeRelated to mission $1,344,498$1,344,498
VIII-12 Total revenueRelated to mission $50,185,294 · Unrelated business $156,516 · Excluded from tax $0$52,319,101
Part IX · Statement of functional expenses $40,972,922 across 13 lines filed
IX-11b Legal fees$24,497
IX-11c Accounting fees$93,040
IX-12 Advertising and promotion$301,222
IX-13 Office expenses$3,518,583
IX-14 Information technology$1,157,064
IX-16 Occupancy$2,505,972
IX-17 Travel$111,141
IX-19 Conferences, conventions and meetings$39,856
IX-20 Interest$8,890,223
IX-22 Depreciation, depletion and amortization$1,408,300
IX-23 Insurance$136,814
IX-24 Other expenses (24a–d)Programs $2,880,405 · Management $17,460,260$20,340,665
IX-24e All other expenses$2,445,545
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$40,972,922
Part X · Balance sheet $1,341,389,804 assets, 15 lines filed
Asset lines not itemized here account for $760,773,874; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $9,905,142$6,548,499
X-2 Savings and temporary cash investmentsStart of year $432,931,301$487,576,137
X-4 Accounts receivableStart of year $9,139,162$6,416,769
X-9 Prepaid expenses and deferred chargesStart of year $139,080$247,508
X-10c Land, buildings and equipment, netStart of year $33,659,107$38,980,521
X-11 Publicly traded securitiesStart of year $18,875,257$15,390,445
X-12 Other securitiesStart of year $1,202,900$794,300
X-14 Intangible assetsStart of year $134,069$85,317
X-15 Other assetsStart of year $32,804,111$24,576,434
X-16 Total assetsStart of year $1,280,395,686$1,341,389,804
X-17 Accounts payable and accrued expensesStart of year $20,438,539$17,310,971
X-25 Other liabilitiesStart of year $1,075,455,775$1,121,995,045
X-26 Total liabilitiesStart of year $1,101,659,479$1,143,399,993
X-32 Total net assets or fund balancesStart of year $178,736,207$197,989,811
X-33 Total liabilities and net assetsStart of year $1,280,395,686$1,341,389,804
Part XI · Reconciliation of net assets $197,989,811 net assets at year end
XI-1 Total revenue$52,319,101
XI-2 Total expenses$40,972,922
XI-3 Revenue less expenses$11,346,179
XI-4 Net assets at start of year$178,736,207
XI-9 Other changes in net assets$7,907,425
XI-10 Net assets at end of year$197,989,811

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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