Fivepoint Credit Union FY2021 filing

Not tax-deductible

Nederland, TXMutual-benefit / member-servingSince 1935EIN 74-1109889

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To provide financial services to our membership with various loan and deposit products.

$3.2M 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 $3.6M a year · 7% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$3.2M
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Looks good: 27.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$751.2M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
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
$45.9M
+6% vs prior year
Spent
$40.1M
Net assets
$82.3M
By yearFY2020–FY2024
Revenue
$45.9M
FY2021▲ +6%
Revenue by fiscal year
FY2020$43.1M
FY2021$45.9M
FY2022$49.4M
FY2023$58.8M
FY2024$68.9M
Expenses
$40.1M
FY2021▼ -2%
Expenses by fiscal year
FY2020$40.9M
FY2021$40.1M
FY2022$44.5M
FY2023$56.5M
FY2024$66.1M
Net assets
$82.3M
FY2021▲ +5%
Net assets by fiscal year
FY2020$78.6M
FY2021$82.3M
FY2022$74.2M
FY2023$76.0M
FY2024$80.2M

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 Jun 1976.

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

Who runs it and what they're paid

25 people listed on the 990; $3.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
$471,190Pt VII · Sec A
Executive Vice President
$330,785Pt VII · Sec A
Financial Advisor
$278,225Pt VII · Sec A
SVP, Lending
$274,850Pt VII · Sec A
SVP, Operations
$261,090Pt VII · Sec A
SVP, Human Resources
$245,912Pt VII · Sec A
VP Accounting
$167,029Pt VII · Sec A
VP Lending
$159,726Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Vicki O'Dell——$886,220——
Erik Shaw$508,339$534,478$507,305$471,190$461,050
Jennifer Webb$320,914$314,698$454,077$274,850$239,408
Kristen Bellanger$313,606$311,677$446,667$261,090$239,313
Kenneth Miller$362,399$371,389$360,107$330,785$321,307
Amanda White$292,054$287,449$208,215$151,693$128,016
Matt Borel———$278,225$207,574
Matthew Borel$274,865$215,943$211,627——

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 Fivepoint 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
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Offers loans and savings accounts to members.

Provided by the organization

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3 programs · in their own filed words · FY2021
01

Home banking provided to the membership represented a cost of approximately $1,231,785 incurred during the year ended december 31, 2021.

Pt IX · col B
02

Atm services provided to the membership represented $2,881,899 of total expenses incurred during the year ended december 31, 2021.

Pt IX · col B
03

Interest incurred on member deposits approximated $3,712,000 during the year ended december 31, 2021.

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 · this organization's grantmaking
Grants paid · 14 grants · $592K · 2020–2024
American Cancer SocietyFY2024$50,000
Unitemized GrantFY2024$25,000
American Cancer SocietyFY2023$98,910
Unitemized GrantFY2023$25,000
American Cancer SocietyFY2022$211,505
Unitemized GrantFY2022$16,000
American Cancer SocietyFY2021$62,630
Unitemized GrantFY2021$10,000
American Cancer SocietyFY2020$57,340
Unitemized GrantFY2020$9,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$45.9M
Ln 12
Fees for servicesLn 2g$44.2M
Investment incomeLn 3$1.7M
Other incomeLn 4–11$68K
Money outPt IX
$40.1M
Ln 25
Owns and owesPt X
$82.3M
net assets · Ln 32
Cash and savingsLn 1–2$91.3M
Total assetsLn 16$833.5M
LiabilitiesLn 26$751.2M
PeoplePt VI, VII
25
listed · VII A
PaidVII A15
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$44.2M
Investment incomeLn 3$1.7M
Other incomeLn 4–11$68K
Total revenueLn 12$45.9M
Assets in detailPt X, end of year
CashLn 1$13.1M
SavingsLn 2$78.2M
Cash and savings togetherLn 1–2$91.3M
InvestmentsLn 11–13$112.2M
Land, buildings, equipmentLn 10c$25.5M
Other assetsLn 15$24.5M
Total assetsLn 16$833.5M
LiabilitiesLn 26$751.2M
Net assetsLn 32$82.3M
OperationsPt I, VI
EmployeesI 5249
VolunteersI 614
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$101.2M$91.3M
InvestmentsLn 11–13$87.6M$112.2M
Land, buildings, equipmentLn 10c$24.3M$25.5M
Total assetsLn 16$772.3M$833.5M
LiabilitiesLn 26$693.7M$751.2M
Net assetsLn 32$78.6M$82.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$208K
Grants to domestic individualsLn 2$10K
Pay of current officers, directors and key staffLn 5$2.8M
Other salaries and wagesLn 7$11.7M
Pension plan contributionsLn 8$768K
Other employee benefitsLn 9$2.3M
Payroll taxesLn 10$941K
Legal feesLn 11b$428K
Accounting feesLn 11c$118K
Other fees for servicesLn 11g$262K
Advertising and promotionLn 12$1.5M
Office expensesLn 13$1.7M
Information technologyLn 14$3.1M
OccupancyLn 16$1.4M
TravelLn 17$45K
Conferences, conventions and meetingsLn 19$1K
InterestLn 20$3.7M
Payments to affiliatesLn 21$122K
Depreciation, depletion and amortizationLn 22$2.3M
InsuranceLn 23$337K
Other expenses (24a–d)Ln 24$5.8M
All other expensesLn 24e$496K
Total functional expensesLn 25$40.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $68.9M$66.1M$2.8M$80.2M 990 PDF
FY2023 $58.8M$56.5M$2.3M$76.0M 990 PDF
FY2022 $49.4M$44.5M$4.9M$74.2M 990 PDF
FY2021 Viewing $45.9M$40.1M$5.8M$82.3M 990 PDF
FY2020 $43.1M$40.9M$2.2M$78.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $45,891,302 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $44,163,022$44,163,022
VIII-3 Investment incomeExcluded from tax $1,660,645$1,660,645
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $67,635$67,635
VIII-12 Total revenueRelated to mission $44,163,022 · Unrelated business $67,635 · Excluded from tax $1,660,645$45,891,302
Part IX · Statement of functional expenses $40,066,004 across 22 lines filed
IX-1 Grants to domestic organizations$208,044
IX-2 Grants to domestic individuals$10,000
IX-5 Pay of current officers, directors and key staff$2,757,260
IX-7 Other salaries and wages$11,718,656
IX-8 Pension plan contributions$767,939
IX-9 Other employee benefits$2,314,261
IX-10 Payroll taxes$941,493
IX-11b Legal fees$427,794
IX-11c Accounting fees$117,500
IX-11g Other fees for services$261,620
IX-12 Advertising and promotion$1,506,321
IX-13 Office expenses$1,743,861
IX-14 Information technology$3,117,300
IX-16 Occupancy$1,391,569
IX-17 Travel$45,075
IX-19 Conferences, conventions and meetings$1,344
IX-20 Interest$3,712,757
IX-21 Payments to affiliates$122,483
IX-22 Depreciation, depletion and amortization$2,268,918
IX-23 Insurance$336,539
IX-24 Other expenses (24a–d)$5,799,609
IX-24e All other expenses$495,661
IX-25 Total functional expenses$40,066,004
Part X · Balance sheet $833,470,409 assets, 15 lines filed
Asset lines not itemized here account for $577,860,023; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $8,633,677$13,104,831
X-2 Savings and temporary cash investmentsStart of year $92,564,739$78,153,808
X-4 Accounts receivableStart of year $379,102$483,651
X-9 Prepaid expenses and deferred chargesStart of year $1,234,117$1,477,080
X-10c Land, buildings and equipment, netStart of year $24,345,204$25,507,037
X-11 Publicly traded securitiesStart of year $86,312,607$111,238,736
X-12 Other securitiesStart of year $1,259,255$1,000,491
X-14 Intangible assetsStart of year $172,809$152,478
X-15 Other assetsStart of year $22,945,288$24,492,274
X-16 Total assetsStart of year $772,281,463$833,470,409
X-17 Accounts payable and accrued expensesStart of year $4,551,550$11,079,191
X-25 Other liabilitiesStart of year $689,166,838$740,075,944
X-26 Total liabilitiesStart of year $693,718,388$751,155,135
X-32 Total net assets or fund balancesStart of year $78,563,075$82,315,274
X-33 Total liabilities and net assetsStart of year $772,281,463$833,470,409
Part XI · Reconciliation of net assets $82,315,274 net assets at year end
XI-1 Total revenue$45,891,302
XI-2 Total expenses$40,066,004
XI-3 Revenue less expenses$5,825,298
XI-4 Net assets at start of year$78,563,075
XI-5 Net unrealized gains (losses) on investments−$2,073,099
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$82,315,274

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

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