Brazos Community Credit Union
- Assets
- $26.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Alvin, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 23-7083133
Organization Overview
Brazos Community Credit Union is located in Alvin, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Brazos Community Credit Union employed 6 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Brazos Community Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Brazos Community Credit Union generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 12.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BRAZOS COMMUNITY CREDIT UNION IS DEDICATED TO PROVIDING SOUND FINANCIAL SERVICES TO ITS MEMBERS IN APERSONAL AND PROFESSIONAL MANNER
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRAZOS COMMUNITY CREDIT UNION OFFERS ALL TYPES OF LOAN PRODUCTS AT COMPETITIVE RATES
BRAZOS COMMUNITY CREDIT UNION OFFERS ALL TYPES OF SAVINGS PRODUCTS AT COMPETITIVE RATES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Montemayor Jr Board Chair | OfficerTrustee | 0.5 | $0 |
Edward Jefferson Vice Chair | OfficerTrustee | 0.5 | $0 |
Netta Shingler Secretary | OfficerTrustee | 0.5 | $0 |
Robert Grays Treasurer | OfficerTrustee | 0.5 | $0 |
Chris Green Board Member | Trustee | 0.5 | $0 |
Wesley Shaw CEO | Officer | 0.5 | $140,418 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,812,533 |
| Investment income | $104,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,916,929 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,418 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $296,750 |
| Pension plan accruals and contributions | $8,649 |
| Other employee benefits | $91,896 |
| Payroll taxes | $33,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $125 |
| Fees for services: Accounting | $11,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,344 |
| Advertising and promotion | $835 |
| Office expenses | $132,132 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,659 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,400 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,094 |
| Insurance | $27,667 |
| All other expenses | $473,213 |
| Total functional expenses | $1,859,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,236,688 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $692 |
| Loans from Officers, Directors, or Controlling Persons | $124,363 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,180,298 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,787 |
| Net Land, buildings, and equipment | $113,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $205,970 |
| Intangible assets | $0 |
| Other assets | $83,650 |
| Total assets | $25,988,996 |
| Accounts payable and accrued expenses | $183,441 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,919,208 |
| Total liabilities | $21,102,649 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,886,347 |
| Total liabilities and net assets/fund balances | $25,988,996 |