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Reed Credit Union

Not tax-deductible

Houston, TXMutual-benefit / member-servingSince 1935Mutual / membership EIN 74-0856365Revenue $716K in FY2025Latest return filed Apr 30, 2026

On file with the IRSreedcreditunion.comHouston, TXTax-exempt since Jun 1976

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Cooperative provider of Credit Union financial services

Run by 7 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · 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
5 of 6
filings with a surplus
Average surplus $38K a year · 7% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 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
$85K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Plus $12.8M in investments, Pt X · Ln 11–13
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12.5M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$716K
-1% vs prior year
Spent
$642K
To programs
0%
Net assets
$2.7M
By yearFY2020–FY2025
Revenue
$716K
FY2025▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$529K
FY2021$475K
FY2022$432K
FY2023$598K
FY2024$726K
FY2025$716K
Expenses
$642K
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$505K
FY2021$473K
FY2022$474K
FY2023$541K
FY2024$613K
FY2025$642K
Net assets
$2.7M
FY2025▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5M
FY2021$2.5M
FY2022$2.5M
FY2023$2.6M
FY2024$2.7M
FY2025$2.7M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Give Claim

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

7 people listed on the 990; $85K paid to officers and key staff.

Part VII, Section A · reportable compensation
Carla Clakley
President
$84,936Pt VII · Sec A
Jair Santana
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Richard Longtine
Vice-Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dorothy Hyman———$49,263$86,104$89,095
Carla Clakley$84,936$80,916$77,562$60,755——

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 Reed 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 15aNo

Programs and updates

Provides credit union financial services to members.

Questions for Reed Credit Union

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Your first name shows with your question. Reed Credit Union answers here, for everyone.

1 program · in their own filed words · FY2025
01

Cooperative provider of credit union financial services

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$716K
Ln 12
Investment incomeLn 3$558K
Fees for servicesLn 2g$158K
Money outPt IX
$642K
Ln 25
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$266K
Total assetsLn 16$15.3M
LiabilitiesLn 26$12.5M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$158K
Investment incomeLn 3$558K
Total revenueLn 12$716K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$232K
Cash and savings togetherLn 1–2$266K
Accounts receivableLn 4$410
Notes and loans receivableLn 7$2.0M
Prepaid expenses and deferred chargesLn 9$36K
Land, buildings, equipmentLn 10c$39K
InvestmentsLn 11–13$12.8M
Other assetsLn 15$140K
Total assetsLn 16$15.3M
LiabilitiesLn 26$12.5M
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 53
VolunteersI 67
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 FY25End FY25
Cash and savingsLn 1–2$350K$266K
InvestmentsLn 11–13$12.9M$12.8M
Land, buildings, equipmentLn 10c$45K$39K
Total assetsLn 16$16.2M$15.3M
LiabilitiesLn 26$13.5M$12.5M
Net assetsLn 32$2.7M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$191K
Pension plan contributionsLn 8$17K
Other employee benefitsLn 9$37K
Payroll taxesLn 10$15K
Investment management feesLn 11f$8K
Advertising and promotionLn 12$859
Office expensesLn 13$102K
OccupancyLn 16$29K
TravelLn 17$7K
InterestLn 20$198K
Other expenses (24a–d)Ln 24$30K
All other expensesLn 24e$8K
Total functional expensesLn 25$642K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Apr 30, 2026 $716K$642K$74K$2.7M 990 PDF
FY2024Filed with the IRS Apr 29, 2025 $726K$613K$113K$2.7M 990 PDF
FY2023Filed with the IRS Apr 24, 2024 $598K$541K$57K$2.6M 990 PDF
FY2022Filed with the IRS Mar 31, 2023 $432K$474K−$42K$2.5M 990 PDF
FY2021Filed with the IRS Apr 27, 2022 $475K$473K$2K$2.5M 990 PDF
FY2020Filed with the IRS May 5, 2021 $529K$505K$24K$2.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $716,336 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $181,056$157,978
I-10 Investment incomePrior year $545,283$558,358
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $726,339$716,336
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $248,323$259,162
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $364,699$383,309
I-18 Total expensesPrior year $613,022$642,471
I-19 Revenue less expensesPrior year $113,317$73,865
Part VI · Governance 0 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
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 $716,336 across 5 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $157,978 · Unrelated business $0 · Excluded from tax $0$157,978
VIII-3 Investment incomeRelated to mission $558,358 · Unrelated business $0 · Excluded from tax $0$558,358
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $716,336 · Unrelated business $0 · Excluded from tax $0$716,336
Part IX · Statement of functional expenses $642,471 across 12 lines filed
IX-5 Pay of current officers, directors and key staff$190,549
IX-8 Pension plan contributions$17,049
IX-9 Other employee benefits$36,849
IX-10 Payroll taxes$14,715
IX-11f Investment management fees$7,967
IX-12 Advertising and promotion$859
IX-13 Office expenses$102,263
IX-16 Occupancy$28,521
IX-17 Travel$7,002
IX-20 Interest$198,340
IX-24 Other expenses (24a–d)$30,210
IX-24e All other expenses$8,147
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$642,471
Part X · Balance sheet $15,281,817 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $24,997$33,962
X-2 Savings and temporary cash investmentsStart of year $325,465$231,857
X-4 Accounts receivableStart of year $1,024$410
X-7 Notes and loans receivableStart of year $2,687,605$2,006,213
X-9 Prepaid expenses and deferred chargesStart of year $38,520$35,920
X-10c Land, buildings and equipment, netStart of year $44,582$38,988
X-13 Program-related investmentsStart of year $12,885,215$12,794,215
X-15 Other assetsStart of year $162,159$140,252
X-16 Total assetsStart of year $16,169,567$15,281,817
X-17 Accounts payable and accrued expensesStart of year $41,143$36,350
X-25 Other liabilitiesStart of year $13,460,527$12,503,705
X-26 Total liabilitiesStart of year $13,501,670$12,540,055
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $2,667,897$2,741,762
X-32 Total net assets or fund balancesStart of year $2,667,897$2,741,762
X-33 Total liabilities and net assetsStart of year $16,169,567$15,281,817
Part XI · Reconciliation of net assets $2,741,762 net assets at year end
XI-1 Total revenue$716,336
XI-2 Total expenses$642,471
XI-3 Revenue less expenses$73,865
XI-4 Net assets at start of year$2,667,897
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,741,762

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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