Priority Trust Credit Union FY2023 filing

Not tax-deductible

Houston, TXMutual-benefit / member-servingSince 1929Mutual / membership EIN 74-0695230Revenue $13.8M in FY2023Latest return filed Jul 7, 2026

On file with the IRS9998 Almeda Genoa Rd, 77075-2416 · Houston, TXTax-exempt since Jun 1976

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To provide banking and loan services to members in order to invest in people and improve lives.

52¢ of each $1 spent went to programs.
$419K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
4 of 5
filings with a surplus
Average deficit $157K a year · 1% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
52%
of spending
Worth a look: 52% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$419K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Plus $24.2M in investments, Pt X · Ln 11–13
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.7M
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.8M
-9% vs prior year
Spent
$13.4M
To programs
52%
Net assets
$183.9M
By yearFY2021–FY2025
Revenue
$13.8M
FY2023▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2021$9.4M
FY2022$15.2M
FY2023$13.8M
FY2024$16.1M
FY2025$16.5M
Expenses
$13.4M
FY2023▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2021$8.8M
FY2022$14.7M
FY2023$13.4M
FY2024$15.2M
FY2025$19.7M
Net assets
$183.9M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021$17.6M
FY2022$188.7M
FY2023$183.9M
FY2024$188.5M
FY2025$184.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2023 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

Where the money goes

52 cents of each dollar spent went to programs.

Program services 52% · $7.0M Management & general 48% · $6.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

15 people listed on the 990; $419K paid to officers and key staff.

Part VII, Section A · reportable compensation
$210,086Pt VII · Sec A
$130,729Pt VII · Sec A
$6,000Pt VII · Sec A
Vice-Chair
$6,000Pt VII · Sec A
$6,000Pt VII · Sec A
$6,000Pt VII · Sec A
Parlimentarian
$6,000Pt VII · Sec A
$6,000Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Malcolm Rene$230,842$220,000$210,086$211,615$90,000
Vladmir Stark————$155,935
Daniel Caldwell$141,580$140,605$130,729$124,024$116,829
Teri Edenfield————$101,645
Wendell Greanleaf$6,000$6,000$6,000$6,000$6,000
Ed Martindale$6,000$6,000$6,000$6,000$6,000
Roderick Newman$6,000$5,000$6,000$6,000$3,000
Margaret Glass$5,500$6,000$6,000$6,000$6,000

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.

See Priority Trust Credit Union executive salaries →

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
  • Loans to or from officersSch L · Pt II20 listed

Programs and updates

Offers banking and loans to invest in people and improve lives.

Questions for Priority Trust Credit Union

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3 programs · $7.0M · in their own filed words · FY2023
01

Consumer Loans

Consumer loans are offered to members for autos, recreational vehicles, home equity, credit card, and personal loans. Consumer life and disability insurance are available on any of these products.

$5.7Mprogram expense
02

Share Accounts

Share accounts are offered to members and pay monthly dividends. Access if offered through branch locations, internet, ATMs, and telephone. Special accounts designed for children and adolescents encourage development of consistent savings habit.

$736Kprogram expense
03

Checking Accounts

Checking accounts are offered to members and generally pay monthly dividends. Access if offered through branch locations, internet, ATMs, and telephone. Free debit cards are offered and on-line and mobile banking features are provided.

$554Kprogram expense

Funders

Who pays for it.

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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Mar 2025 · $861K federal money spent
Community Development Financial Institutions Fund Equitable Recovery Program (cdfi Erp)Department of the Treasury · ALN 21.033 · Direct$861K

The auditor reported 1 finding: a material weakness in money controls.

Year ending Mar 2023 · $1.1M federal money spent
Community Development Financial Institutions Rapid Response Program (cdfi Rrp)Department of the Treasury · ALN 21.024 · Direct$978K
Community Development Financial Institutions ProgramDepartment of the Treasury · ALN 21.020 · Direct$90K

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$13.8M
Ln 12
Fees for servicesLn 2g$12.0M
Investment incomeLn 3$1.2M
Gifts and grantsLn 1h$592K
Money outPt IX
$13.4M
Ln 25
Programscol B$7.0M
Managementcol C$6.4M
Owns and owesPt X
$183.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$189.5M
LiabilitiesLn 26$5.7M
PeoplePt VI, VII
15
listed · VII A
PaidVII A15
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$592K
Fees for servicesLn 2g$12.0M
Investment incomeLn 3$1.2M
Total revenueLn 12$13.8M
Assets in detailPt X, end of year
CashLn 1$3.6M
Cash and savings togetherLn 1–2$3.6M
InvestmentsLn 11–13$24.2M
Land, buildings, equipmentLn 10c$7.6M
Other assetsLn 15$7.4M
Total assetsLn 16$189.5M
LiabilitiesLn 26$5.7M
Net assetsLn 32$183.9M
OperationsPt I, VI
EmployeesI 595
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2$4.9M$3.6M
InvestmentsLn 11–13$23.6M$24.2M
Land, buildings, equipmentLn 10c$7.9M$7.6M
Total assetsLn 16$196.7M$189.5M
LiabilitiesLn 26$8.0M$5.7M
Net assetsLn 32$188.7M$183.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$422K$0$422K$0
Other salaries and wagesLn 7$3.3M$0$3.3M$0
Pension plan contributionsLn 8$971K$0$971K$0
Other employee benefitsLn 9$605K$0$605K$0
Payroll taxesLn 10$288K$0$288K$0
Legal feesLn 11b$6K$0$6K$0
Accounting feesLn 11c$4K$0$4K$0
Advertising and promotionLn 12$93K$93K$0$0
Office expensesLn 13$1.5M$1.5M$0$0
Information technologyLn 14$412K$412K$0$0
OccupancyLn 16$756K$756K$0$0
TravelLn 17$86K$0$86K$0
Conferences, conventions and meetingsLn 19$58K$22K$36K$0
InterestLn 20$767K$767K$0$0
Depreciation, depletion and amortizationLn 22$488K$0$488K$0
InsuranceLn 23$147K$0$147K$0
Other expenses (24a–d)Ln 24$2.3M$2.3M$0$0
All other expensesLn 24e$1.2M$1.2M$29K$0
Total functional expensesLn 25$13.4M$7.0M$6.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jul 7, 2026 $16.5M$19.7M−$3.1M$184.2M 990 PDF
FY2024Filed with the IRS Aug 20, 2025 $16.1M$15.2M$940K$188.5M 990 PDF
FY2023 ViewingFiled with the IRS Oct 4, 2024 $13.8M$13.4M$396K$183.9M 990 PDF
FY2022Filed with the IRS Sep 17, 2024 $15.2M$14.7M$476K$188.7M 990 PDF
FY2021Filed with the IRS Nov 8, 2022 $9.4M$8.8M$547K$17.6M 990 PDF

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 FY2023 990 (6 parts)
Part I · Summary $13,776,593 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,230,322$591,687
I-9 Program service revenuePrior year $13,339,308$11,968,339
I-10 Investment incomePrior year $608,697$1,216,567
I-11 Other revenue$0
I-12 Total revenuePrior year $15,178,327$13,776,593
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $5,201,057$5,594,234
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $9,501,035$7,785,976
I-18 Total expensesPrior year $14,702,092$13,380,210
I-19 Revenue less expensesPrior year $476,235$396,383
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $13,776,593 across 5 lines filed
VIII-1f All other contributions, gifts and grants$591,687
VIII-1h Total contributions, gifts and grants$591,687
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$11,968,339
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$1,216,567
VIII-12 Total revenueRelated to mission $13,184,906 · Unrelated business $0 · Excluded from tax $0$13,776,593
Part IX · Statement of functional expenses $13,380,210 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $422,065 · Fundraising $0$422,065
IX-7 Other salaries and wagesPrograms $0 · Management $3,308,866 · Fundraising $0$3,308,866
IX-8 Pension plan contributionsPrograms $0 · Management $970,617 · Fundraising $0$970,617
IX-9 Other employee benefitsPrograms $0 · Management $604,816 · Fundraising $0$604,816
IX-10 Payroll taxesPrograms $0 · Management $287,870 · Fundraising $0$287,870
IX-11b Legal feesPrograms $0 · Management $6,480 · Fundraising $0$6,480
IX-11c Accounting feesPrograms $0 · Management $3,724 · Fundraising $0$3,724
IX-12 Advertising and promotionPrograms $92,576 · Management $0 · Fundraising $0$92,576
IX-13 Office expensesPrograms $1,480,703 · Management $0 · Fundraising $0$1,480,703
IX-14 Information technologyPrograms $412,178 · Management $0 · Fundraising $0$412,178
IX-16 OccupancyPrograms $755,524 · Management $0 · Fundraising $0$755,524
IX-17 TravelPrograms $0 · Management $86,417 · Fundraising $0$86,417
IX-19 Conferences, conventions and meetingsPrograms $21,500 · Management $36,112 · Fundraising $0$57,612
IX-20 InterestPrograms $767,020 · Management $0 · Fundraising $0$767,020
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $488,397 · Fundraising $0$488,397
IX-23 InsurancePrograms $0 · Management $146,837 · Fundraising $0$146,837
IX-24 Other expenses (24a–d)Programs $2,290,157 · Management $0 · Fundraising $0$2,290,157
IX-24e All other expensesPrograms $1,169,553 · Management $28,798 · Fundraising $0$1,198,351
IX-25 Total functional expensesPrograms $6,989,211 · Management $6,390,999 · Fundraising $0$13,380,210
Part X · Balance sheet $189,539,846 assets, 12 lines filed
Asset lines not itemized here account for $135,271,921; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,860,364$3,634,220
X-4 Accounts receivableStart of year $1,457,984$1,371,725
X-9 Prepaid expenses and deferred chargesStart of year $9,700,555$10,027,570
X-10c Land, buildings and equipment, netStart of year $7,909,595$7,600,783
X-12 Other securitiesStart of year $23,606,312$24,187,298
X-15 Other assetsStart of year $7,163,114$7,446,329
X-16 Total assetsStart of year $196,739,060$189,539,846
X-17 Accounts payable and accrued expensesStart of year $91,729$103,007
X-25 Other liabilitiesStart of year $7,955,193$5,568,933
X-26 Total liabilitiesStart of year $8,046,922$5,671,940
X-32 Total net assets or fund balancesStart of year $188,692,138$183,867,906
X-33 Total liabilities and net assetsStart of year $196,739,060$189,539,846
Part XI · Reconciliation of net assets $183,867,906 net assets at year end
XI-1 Total revenue$13,776,593
XI-2 Total expenses$13,380,210
XI-3 Revenue less expenses$396,383
XI-4 Net assets at start of year$188,692,138
XI-10 Net assets at end of year$183,867,906

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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