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Eecu FY2020 filing

Not tax-deductible

Fort Worth, TXMutual-benefit / member-servingSince 1934Mutual / membership EIN 75-0275915Revenue $131.8M in FY2020Latest return filed Apr 8, 2026

On file with the IRSeecu.org1617 West Seventh Street, 76102-2503 · Fort Worth, TXTax-exempt since Jun 1976

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The credit union provides financial services to its members through consumer and business loans and savings deposits that encourage thrift and seek to improve the our members' economic condition.

$9.3M 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 $46.1M a year · 24% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$9.3M
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
60 mo
of spending, in cash
Looks good: 60.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$37.5M
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 9 voting members
Worth a look: 4 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$131.8M
Spent
$102.9M
Net assets
$2.9B
By yearFY2020–FY2025
Revenue
$131.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$131.8M
FY2021$132.7M
FY2022$152.3M
FY2023$198.6M
FY2024$246.0M
FY2025$276.9M
Expenses
$102.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$102.9M
FY2021$96.2M
FY2022$104.1M
FY2023$152.2M
FY2024$192.7M
FY2025$213.7M
Net assets
$2.9B
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.9B
FY2021$3.3B
FY2022$3.4B
FY2023$3.7B
FY2024$4.1B
FY2025$4.5B

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 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; $9.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
Lonnie Nicholson
Chief Executive Officer
$2,147,690Pt VII · Sec A
Robert C Sanger
Executive Vice President
$1,556,183Pt VII · Sec A
Matt Kaudy
Chief Marketing Officer
$642,989Pt VII · Sec A
David Shurtz
Chief Risk Officer
$600,692Pt VII · Sec A
Tim Burch
Chief Information Officer
$578,363Pt VII · Sec A
Brad Schone
Chief Financial Officer
$540,523Pt VII · Sec A
Joe Rossa
Chief Lending Officer
$538,819Pt VII · Sec A
Paula Holcomb
Senior Vice President - HR
$480,836Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lonnie Nicholson$2,494,947$2,376,831$2,312,265$2,235,034$2,160,810$2,147,690
Robert C Sanger Retired Dec 2023——$1,768,128———
Robert C Sanger———$1,612,148$1,554,742$1,556,183
Matt Kaudy$800,534$731,225$777,103$563,850$529,564$642,989
David Shurtz$611,656$585,581$702,671$537,217$490,930$600,692
Bradley Schone$684,146$551,698$628,564———
Tim Burch$597,153$569,573$677,187$506,792$475,475$578,363
Robin Harris$605,350$583,089$668,810$449,323$371,148$421,886

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 Eecu 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 II25 listed

Programs and updates

Offers loans and savings accounts to improve members' financial well-being.

Questions for Eecu

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2 programs · in their own filed words · FY2020
01

The credit union operates under the provisions of the laws and rules of the Texas Credit Union Department and National Credit Union Administration. Its purpose is to encourage thrift among its members and provide credit at fair and reasonable rates of interest. This provides an opportunity to improve the members' economic conditions.

Pt IX · col B
02

Voluntary cooperative, non-profit credit union incorporated under the provisions of the laws and rules of the Texas Credit Union Department for the purpose of encouraging thrift among its members, providing credit at fair and reasonable rates of interest and providing an opportunity to improve our members' economic condition.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$131.8M
Ln 12
Fees for servicesLn 2g$88.3M
Other incomeLn 4–11$40.6M
Investment incomeLn 3$2.9M
Money outPt IX
$102.9M
Ln 25
Owns and owesPt X
$2.9B
net assets · Ln 32
Cash and savingsLn 1–2$516.5M
Total assetsLn 16$2.9B
LiabilitiesLn 26$37.5M
PeoplePt VI, VII
25
listed · VII A
PaidVII A25
Voting boardVI 1a9
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$88.3M
Investment incomeLn 3$2.9M
Other incomeLn 4–11$40.6M
Total revenueLn 12$131.8M
Assets in detailPt X, end of year
CashLn 1$90.5M
SavingsLn 2$426.0M
Cash and savings togetherLn 1–2$516.5M
InvestmentsLn 11–13$167.0M
Land, buildings, equipmentLn 10c$40.3M
Other assetsLn 15$31.8M
Total assetsLn 16$2.9B
LiabilitiesLn 26$37.5M
Net assetsLn 32$2.9B
OperationsPt I, VI
EmployeesI 5449
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$294.3M$516.5M
InvestmentsLn 11–13$129.7M$167.0M
Land, buildings, equipmentLn 10c$40.9M$40.3M
Total assetsLn 16$2.50B$2.90B
LiabilitiesLn 26$33.8M$37.5M
Net assetsLn 32$2.47B$2.86B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$8.8M
Other salaries and wagesLn 7$19.6M
Pension plan contributionsLn 8$1.3M
Other employee benefitsLn 9$6.0M
Payroll taxesLn 10$1.9M
Management feesLn 11a$49K
Legal feesLn 11b$48K
Investment management feesLn 11f$103K
Advertising and promotionLn 12$1.9M
Office expensesLn 13$12.3M
Information technologyLn 14$156K
OccupancyLn 16$3.5M
Conferences, conventions and meetingsLn 19$106K
InterestLn 20$21.8M
Depreciation, depletion and amortizationLn 22$1.6M
InsuranceLn 23$336K
Other expenses (24a–d)Ln 24$15.6M
All other expensesLn 24e$7.8M
Total functional expensesLn 25$102.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 8, 2026 $276.9M$213.7M$63.2M$4.5B 990 PDF
FY2024Filed with the IRS Apr 4, 2025 $246.0M$192.7M$53.2M$4.1B 990 PDF
FY2023Filed with the IRS May 2, 2024 $198.6M$152.2M$46.4M$3.7B 990 PDF
FY2022Filed with the IRS May 2, 2023 $152.3M$104.1M$48.2M$3.4B 990 PDF
FY2021Filed with the IRS Mar 30, 2022 $132.7M$96.2M$36.5M$3.3B 990 PDF
FY2020 ViewingFiled with the IRS Mar 29, 2021 $131.8M$102.9M$28.9M$2.9B 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 FY2020 990 (6 parts)
Part I · Summary $131,829,814 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $82,925,187$88,321,389
I-10 Investment incomePrior year $7,641,951$2,892,846
I-11 Other revenuePrior year $38,886,494$40,615,579
I-12 Total revenuePrior year $129,453,632$131,829,814
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 $34,610,224$37,633,420
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $62,952,007$65,297,503
I-18 Total expensesPrior year $97,562,231$102,930,923
I-19 Revenue less expensesPrior year $31,891,401$28,898,891
Part VI · Governance 4 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members4
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 $131,829,814 across 5 lines filed
Lines not itemized here account for $212,637 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $88,321,389$88,321,389
VIII-3 Investment incomeRelated to mission $2,892,846$2,892,846
VIII-5 RoyaltiesRelated to mission $3,205$3,205
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $40,399,737$40,399,737
VIII-12 Total revenueRelated to mission $131,829,814 · Unrelated business $0 · Excluded from tax $0$131,829,814
Part IX · Statement of functional expenses $102,930,923 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$8,816,028
IX-7 Other salaries and wages$19,623,935
IX-8 Pension plan contributions$1,275,695
IX-9 Other employee benefits$6,023,140
IX-10 Payroll taxes$1,894,622
IX-11a Management fees$48,505
IX-11b Legal fees$48,205
IX-11f Investment management fees$103,320
IX-12 Advertising and promotion$1,900,988
IX-13 Office expenses$12,300,728
IX-14 Information technology$156,251
IX-16 Occupancy$3,547,791
IX-19 Conferences, conventions and meetings$105,957
IX-20 Interest$21,787,452
IX-22 Depreciation, depletion and amortization$1,579,975
IX-23 Insurance$335,700
IX-24 Other expenses (24a–d)$15,573,172
IX-24e All other expenses$7,809,459
IX-25 Total functional expenses$102,930,923
Part X · Balance sheet $2,898,163,079 assets, 13 lines filed
Asset lines not itemized here account for $2,135,979,876; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $88,464,282$90,534,704
X-2 Savings and temporary cash investmentsStart of year $205,825,551$426,012,649
X-4 Accounts receivableStart of year $4,397,263$5,163,421
X-9 Prepaid expenses and deferred chargesStart of year $6,528,527$1,328,048
X-10c Land, buildings and equipment, netStart of year $40,921,724$40,287,579
X-12 Other securitiesStart of year $129,680,714$166,980,881
X-14 Intangible assetsStart of year $52,535$27,407
X-15 Other assetsStart of year $28,020,246$31,848,514
X-16 Total assetsStart of year $2,504,825,406$2,898,163,079
X-17 Accounts payable and accrued expensesStart of year $33,806,220$37,507,835
X-26 Total liabilitiesStart of year $33,806,220$37,507,835
X-32 Total net assets or fund balancesStart of year $2,471,019,186$2,860,655,244
X-33 Total liabilities and net assetsStart of year $2,504,825,406$2,898,163,079
Part XI · Reconciliation of net assets $2,860,655,244 net assets at year end
XI-1 Total revenue$131,829,814
XI-2 Total expenses$102,930,923
XI-3 Revenue less expenses$28,898,891
XI-4 Net assets at start of year$2,471,019,186
XI-5 Net unrealized gains (losses) on investments$2,269,143
XI-9 Other changes in net assets$358,468,024
XI-10 Net assets at end of year$2,860,655,244

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

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