Freestone Credit Union FY2020 filing

Not tax-deductible

Teague, TXMutual-benefit / member-servingSince 1952Mutual / membership EIN 74-1250330Revenue $1.9M in FY2020Latest return filed Apr 24, 2026

On file with the IRSTeague, TXTax-exempt since Jun 1976

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Our mission is to provide quality financial services to our members at competitive rates.

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 74-1250330) · Dispute this line
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $573K a year · 21% of revenue · last 6 filings
A surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
100% of spending went to programs.
Pt IX · Ln 25 · col B
9.3 mo
of spending, in cash
Plus $17.5M in investments, Pt X · Ln 11–13
9.3 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$40.5M
90% of total assets
Liabilities are 90% of assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
7 of 7 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$1.9M
Spent
$1.7M
To programs
100%
Net assets
$4.6M
By yearFY2020–FY2025
Revenue
$1.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$2.1M
FY2022$2.3M
FY2023$2.6M
FY2024$3.5M
FY2025$3.9M
Expenses
$1.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$1.7M
FY2023$2.1M
FY2024$2.7M
FY2025$3.0M
Net assets
$4.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$4.6M
FY2021$5.0M
FY2022$5.6M
FY2023$6.1M
FY2024$6.9M
FY2025$7.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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 Jun 1976.

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% · $1.7M

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Sec.treasure
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022
Deanne Harris$131,569$123,237$118,545$111,193

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 Freestone 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

Offers members affordable financial services and competitive loan rates.

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3 programs · in their own filed words · FY2020
01

Regular share accounts increased 1,266,873 certificates of deposit increased 97,680 other deposits increased 266,809

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 74-1250330) · Dispute this line
Pt IX · Ln 25 · col B
02

No significant accomplishments during taxable year.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 74-1250330) · Dispute this line
Pt IX · Ln 25 · col B
03

No significant achievements during taxable year

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 74-1250330) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$185K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Owns and owesPt X
$4.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$45.1M
LiabilitiesLn 26$40.5M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$185K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
Accounts receivableLn 4$6K
Notes and loans receivableLn 7$24.6M
Prepaid expenses and deferred chargesLn 9$54K
Land, buildings, equipmentLn 10c$1.6M
InvestmentsLn 11–13$17.5M
Other assetsLn 15$88K
Total assetsLn 16$45.1M
LiabilitiesLn 26$40.5M
Net assetsLn 32$4.6M
OperationsPt I, VI
EmployeesI 519
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 FY20End FY20
Cash and savingsLn 1–2$1.3M$1.3M
InvestmentsLn 11–13$14.7M$17.5M
Land, buildings, equipmentLn 10c$1.6M$1.6M
Total assetsLn 16$43.5M$45.1M
LiabilitiesLn 26$39.2M$40.5M
Net assetsLn 32$4.4M$4.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$120K$120K
Other salaries and wagesLn 7$650K$650K
Pension plan contributionsLn 8$18K$18K
Other employee benefitsLn 9$12K$12K
Payroll taxesLn 10$52K$52K
Legal feesLn 11b$836$836
Other fees for servicesLn 11g$266K$266K
Advertising and promotionLn 12$23K$23K
Office expensesLn 13$278K$278K
OccupancyLn 16$77K$77K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$103K$103K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$94K$94K
All other expensesLn 24e−$69K−$69K
Total functional expensesLn 25$1.7M$1.7M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 24, 2026 $3.9M$3.0M$886K$7.8M 990 PDF
FY2024Filed with the IRS May 7, 2025 $3.5M$2.7M$796K$6.9M 990 PDF
FY2023Filed with the IRS Apr 2, 2024 $2.6M$2.1M$556K$6.1M 990 PDF
FY2022Filed with the IRS May 4, 2023 $2.3M$1.7M$562K$5.6M 990 PDF
FY2021Filed with the IRS Feb 18, 2022 $2.1M$1.7M$363K$5.0M 990 PDF
FY2020 ViewingFiled with the IRS Feb 25, 2021 $1.9M$1.7M$273K$4.6M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $1,942,617 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,769,004$1,757,400
I-10 Investment incomePrior year $240,343$185,217
I-11 Other revenue$0
I-12 Total revenuePrior year $2,009,347$1,942,617
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $93,886$119,984
I-15 Salaries and benefitsPrior year $743,459$731,816
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $876,008$817,538
I-18 Total expensesPrior year $1,713,353$1,669,338
I-19 Revenue less expensesPrior year $295,994$273,279
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,942,617 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,757,400$1,757,400
VIII-3 Investment incomeExcluded from tax $185,217$185,217
VIII-12 Total revenueRelated to mission $1,757,400 · Excluded from tax $185,217$1,942,617
Part IX · Statement of functional expenses $1,669,338 across 15 lines filed
IX-4 Benefits paid to or for membersPrograms $119,984$119,984
IX-7 Other salaries and wagesPrograms $650,379$650,379
IX-8 Pension plan contributionsPrograms $17,686$17,686
IX-9 Other employee benefitsPrograms $11,623$11,623
IX-10 Payroll taxesPrograms $52,128$52,128
IX-11b Legal feesPrograms $836$836
IX-11g Other fees for servicesPrograms $266,483$266,483
IX-12 Advertising and promotionPrograms $22,955$22,955
IX-13 Office expensesPrograms $278,056$278,056
IX-16 OccupancyPrograms $77,359$77,359
IX-19 Conferences, conventions and meetingsPrograms $3,869$3,869
IX-22 Depreciation, depletion and amortizationPrograms $102,634$102,634
IX-23 InsurancePrograms $39,563$39,563
IX-24 Other expenses (24a–d)Programs $94,477$94,477
IX-24e All other expensesPrograms −$68,694−$68,694
IX-25 Total functional expensesPrograms $1,669,338 · Management $0 · Fundraising $0$1,669,338
Part X · Balance sheet $45,085,109 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,280,429$1,287,704
X-4 Accounts receivableStart of year $23,169$5,517
X-7 Notes and loans receivableStart of year $25,767,799$24,622,002
X-9 Prepaid expenses and deferred chargesStart of year $50,887$54,434
X-10c Land, buildings and equipment, netStart of year $1,568,241$1,569,279
X-13 Program-related investmentsStart of year $14,715,645$17,458,589
X-15 Other assetsStart of year $101,862$87,584
X-16 Total assetsStart of year $43,508,032$45,085,109
X-17 Accounts payable and accrued expensesStart of year $297,239$483,561
X-25 Other liabilitiesStart of year $38,854,492$39,971,968
X-26 Total liabilitiesStart of year $39,151,731$40,455,529
X-31 Retained earnings or endowmentStart of year $4,356,301$4,629,580
X-32 Total net assets or fund balancesStart of year $4,356,301$4,629,580
X-33 Total liabilities and net assetsStart of year $43,508,032$45,085,109
Part XI · Reconciliation of net assets $4,629,580 net assets at year end
XI-1 Total revenue$1,942,617
XI-2 Total expenses$1,669,338
XI-3 Revenue less expenses$273,279
XI-4 Net assets at start of year$4,356,301
XI-10 Net assets at end of year$4,629,580

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

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