Oklahoma Educators Credit Union FY2020 filing

Not tax-deductible

Oklahoma City, OKMutual-benefit / member-servingSince 1960Mutual / membership EIN 73-0742019Revenue $15.3M in FY2020

On file with the IRSoecu.com4001 Nw Expressway, 73116-1686 · Oklahoma City, OKTax-exempt since Dec 1965

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Providing financial services to school employees, students, and their families.

$723K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · 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
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 $2.6M a year · 15% 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
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$723K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
9 mo
of spending, in cash
Plus $60.3M in investments, Pt X · Ln 11–13
Looks good: 8.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$195.0M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.3M
Spent
$13.1M
To programs
100%
Net assets
$20.7M
By yearFY2020–FY2025
Revenue
$15.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$15.3M
FY2021$16.4M
FY2022$17.8M
FY2023$17.9M
FY2024$17.3M
FY2025$17.6M
Expenses
$13.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$13.1M
FY2021$13.3M
FY2022$14.8M
FY2023$14.9M
FY2024$14.9M
FY2025$15.6M
Net assets
$20.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$20.7M
FY2021$22.7M
FY2022$20.7M
FY2023$23.3M
FY2024$25.0M
FY2025$30.0M

From the FY2020 Form 990 · figures checked against the IRS filing · 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 Dec 1965.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $13.1M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $723K paid to officers and key staff.

Part VII, Section A · reportable compensation
President / CEO
$310,579Pt VII · Sec A
Senior Vice President
$264,597Pt VII · Sec A
Vice President of Finance/Human Resources
$147,690Pt VII · Sec A
Board Member - Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Cindy White$497,847$460,696$418,466$412,686$390,876$310,579
Trent Vaughn$386,252$332,803$359,957$333,014$296,492$264,597
Bob Herzig$196,215$185,089$185,496$197,887$215,579$147,690
Josh Stone$119,379$119,784————
Kelly Hensley—$101,000————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aNo
  • Loans to or from officersSch L · Pt II7 listed

Programs and updates

Offers financial services to school employees, students, and their families.

Questions for Oklahoma Educators Credit Union

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Provided by the organization

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1 program · $13.1M · in their own filed words · FY2020
01

Oklahoma educators credit union is a state chartered credit union servicing educators, students, and their families.

$13.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 22 grants · $108K · 2020–2025
Unitemized GrantFY2025$8,703
Suited for Success INCOK · FY2025$6,048
Credit Union House of OklahomaFY2025$300
Oklahoma's Credit Union - Sugar & Spurs EventFY2025$250
Unitemized GrantFY2024$11,896
Suited for Success INCOK · FY2024$4,460
Credit Union House of OklahomaFY2024$360
Oklahoma's Credit Union - Sugar & Spurs EventFY2024$278
Unitemized GrantFY2023$13,212
Suited for Success INCOK · FY2023$4,932
Unitemized GrantFY2023$1,800
Oklahoma's Credit Union - Sugar & Spurs EventFY2023$200
Credit Union House of OklahomaFY2023$100
Unitemized GrantFY2022$12,698
Suited for Success INCOK · FY2022$5,993
Unitemized GrantFY2022$700
See all 22 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$15.3M
Ln 12
Fees for servicesLn 2g$14.5M
Investment incomeLn 3$837K
Other incomeLn 4–11$27K
Money outPt IX
$13.1M
Ln 25
Programscol B$13.1M
Owns and owesPt X
$20.7M
net assets · Ln 32
Cash and savingsLn 1–2$9.5M
Total assetsLn 16$215.6M
LiabilitiesLn 26$195.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.5M
Investment incomeLn 3$837K
Other incomeLn 4–11$27K
Gains on assetsLn 7$31K
Total revenueLn 12$15.3M
Assets in detailPt X, end of year
CashLn 1$9.5M
Cash and savings togetherLn 1–2$9.5M
InvestmentsLn 11–13$60.3M
Land, buildings, equipmentLn 10c$6.9M
Other assetsLn 15$1.4M
Total assetsLn 16$215.6M
LiabilitiesLn 26$195.0M
Net assetsLn 32$20.7M
OperationsPt I, VI
EmployeesI 5113
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$789K$9.5M
InvestmentsLn 11–13$31.0M$60.3M
Land, buildings, equipmentLn 10c$5.5M$6.9M
Total assetsLn 16$167.0M$215.6M
LiabilitiesLn 26$149.3M$195.0M
Net assetsLn 32$17.6M$20.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$21K
Benefits paid to or for membersLn 4$1.7M
Pay of current officers, directors and key staffLn 5$808K
Other salaries and wagesLn 7$2.9M
Pension plan contributionsLn 8$39K
Other employee benefitsLn 9$329K
Payroll taxesLn 10$245K
Legal feesLn 11b$134K
Accounting feesLn 11c$37K
Investment management feesLn 11f$3K
Other fees for servicesLn 11g$89K
Advertising and promotionLn 12$113K
Office expensesLn 13$333K
Information technologyLn 14$590K
OccupancyLn 16$301K
TravelLn 17$10K
Conferences, conventions and meetingsLn 19$55K
InterestLn 20$54K
Depreciation, depletion and amortizationLn 22$214K
InsuranceLn 23$71K
Other expenses (24a–d)Ln 24$4.8M
All other expensesLn 24e$315K
Total functional expensesLn 25$13.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $17.6M$15.6M$2.0M$30.0M 990 PDF
FY2024 $17.3M$14.9M$2.4M$25.0M 990 PDF
FY2023 $17.9M$14.9M$3.0M$23.3M 990 PDF
FY2022 $17.8M$14.8M$3.0M$20.7M 990 PDF
FY2021 $16.4M$13.3M$3.1M$22.7M 990 PDF
FY2020 Viewing $15.3M$13.1M$2.2M$20.7M 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 J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $15,320,509 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $13,229,835$14,457,443
I-10 Investment incomePrior year $741,323$836,558
I-11 Other revenuePrior year $19,340$26,508
I-12 Total revenuePrior year $13,990,498$15,320,509
I-13 Grants and similar amounts paidPrior year $30,546$21,491
I-14 Benefits paid to membersPrior year $1,522,493$1,712,186
I-15 Salaries and benefitsPrior year $3,641,053$4,282,344
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,796,029$7,102,965
I-18 Total expensesPrior year $11,990,121$13,118,986
I-19 Revenue less expensesPrior year $2,000,377$2,201,523
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $15,320,509 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,457,443$14,457,443
VIII-3 Investment incomeRelated to mission $805,568$805,568
VIII-6 Net rental income or lossExcluded from tax $26,508$26,508
VIII-7 Net gain or loss on sales of assetsExcluded from tax $30,990$30,990
VIII-12 Total revenueRelated to mission $15,263,011 · Unrelated business $0 · Excluded from tax $57,498$15,320,509
Part IX · Statement of functional expenses $13,118,986 across 22 lines filed
IX-2 Grants to domestic individuals$21,491
IX-4 Benefits paid to or for members$1,712,186
IX-5 Pay of current officers, directors and key staff$808,060
IX-7 Other salaries and wages$2,860,957
IX-8 Pension plan contributions$39,453
IX-9 Other employee benefits$328,957
IX-10 Payroll taxes$244,917
IX-11b Legal fees$133,627
IX-11c Accounting fees$37,000
IX-11f Investment management fees$2,760
IX-11g Other fees for services$88,588
IX-12 Advertising and promotion$113,323
IX-13 Office expenses$332,967
IX-14 Information technology$589,828
IX-16 Occupancy$300,888
IX-17 Travel$9,583
IX-19 Conferences, conventions and meetings$54,611
IX-20 Interest$54,044
IX-22 Depreciation, depletion and amortization$213,857
IX-23 Insurance$70,610
IX-24 Other expenses (24a–d)$4,786,490
IX-24e All other expenses$314,789
IX-25 Total functional expenses$13,118,986
Part X · Balance sheet $215,642,463 assets, 12 lines filed
Asset lines not itemized here account for $137,030,831; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $788,906$9,489,027
X-4 Accounts receivableStart of year $3,384$2,560
X-9 Prepaid expenses and deferred chargesStart of year $422,263$514,877
X-10c Land, buildings and equipment, netStart of year $5,542,458$6,897,214
X-12 Other securitiesStart of year $31,024,493$60,348,565
X-15 Other assetsStart of year $1,514,506$1,359,389
X-16 Total assetsStart of year $166,993,127$215,642,463
X-17 Accounts payable and accrued expensesStart of year $1,663,756$2,197,032
X-25 Other liabilitiesStart of year $140,683,512$182,088,950
X-26 Total liabilitiesStart of year $149,347,268$194,985,982
X-32 Total net assets or fund balancesStart of year $17,645,859$20,656,481
X-33 Total liabilities and net assetsStart of year $166,993,127$215,642,463
Part XI · Reconciliation of net assets $20,656,481 net assets at year end
XI-1 Total revenue$15,320,509
XI-2 Total expenses$13,118,986
XI-3 Revenue less expenses$2,201,523
XI-4 Net assets at start of year$17,645,859
XI-5 Net unrealized gains (losses) on investments$809,099
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,656,481

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

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