Calcasieu Teachers & Employees Credit Union
- Assets
- $60.5m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 15
- Location
- Lake Charles, LA
- Founding
- 08/1969
- Data as of
- 12/2023
- EIN
- 72-0574910
Organization Overview
Calcasieu Teachers & Employees Credit Union is located in Lake Charles, LA. The organization was established in 1969. 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, Calcasieu Teachers & Employees Credit Union employed 15 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Calcasieu Teachers & Employees 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, Calcasieu Teachers & Employees Credit Union generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 9.6% 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
MEETING THE FINANCIAL NEEDS OF OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUE TO PROVIDE MEMBERS WITH AFFORDABLE SOURCE OF SAVINGS AND CREDIT TO CREDIT UNION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Floyd J Busby President/ceo | Officer | 40 | $110,444 |
Craig Barber Chairman | OfficerTrustee | 2 | $0 |
Phyllis Wilson Vice Chairperson | OfficerTrustee | 2 | $0 |
Linda Finley Secretary/treasurer | OfficerTrustee | 2 | $0 |
Ronal Sweeney Director | Trustee | 2 | $0 |
D Kim Broussard Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lincoln Builders Inc Construction | 12/30/23 | $1,174,250 |
Visifi Inc Core System Provider | 12/30/23 | $181,053 |
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 | $0 |
| Investment income | $2,475,191 |
| 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 | $2,656,700 |
| 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. | $110,444 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $581,990 |
| Pension plan accruals and contributions | $27,319 |
| Other employee benefits | $74,272 |
| Payroll taxes | $50,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,653 |
| Fees for services: Accounting | $32,809 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,057 |
| Advertising and promotion | $53,412 |
| Office expenses | $319,413 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,674 |
| Travel | $3,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,076 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,197 |
| Insurance | $31,786 |
| All other expenses | $161,302 |
| Total functional expenses | $1,835,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,546 |
| Savings and temporary cash investments | $28,819,330 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $490,130 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $26,066,213 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $259,569 |
| Net Land, buildings, and equipment | $3,660,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $528,099 |
| Intangible assets | $0 |
| Other assets | $235,566 |
| Total assets | $60,527,775 |
| Accounts payable and accrued expenses | $46,710 |
| 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 | $35,104 |
| Total liabilities | $81,814 |
| 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 | $60,445,961 |
| Total liabilities and net assets/fund balances | $60,527,775 |