Firstmark Credit Union
- Assets
- $1.2b
- Revenue
- $60.2m
- Investments
- $65.0m
- Employees
- 330
- Location
- San Antonio, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-0879805
Organization Overview
Firstmark Credit Union is located in San Antonio, 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 12/2022, Firstmark Credit Union employed 330 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Firstmark 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 12/2022, Firstmark Credit Union generated $60.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $54.4m during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 8 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.
Since 2015, Firstmark Credit Union has awarded 37 individual grants totaling $618,759. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PEOPLE TO BETTER THEIR LIVES AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRSTMARK CREDIT UNION, A MEMBER OWNED AND LOCALLY CONTROLLED FINANCIAL COOPERATIVE, IS DEDICATED TO MEETING THE FINANCIAL NEEDS OF MEMBERS; PROVIDING EXCELLENCE IN PERSONALIZED SERVICE; OFFERING INNOVATIVE AND COMPREHENSIVE PRODUCTS AND SERVICES; SAFEGUARDING MEMBER INVESTMENTS BY MAINTAINING FINANCIAL STRENGTH; BEING A RESPONSIBLE EMPLOYER BY ADDRESSING THE NEEDS OF EMPLOYEES; AND BEING A RESPONSIBLE CORPORATE CITIZEN IN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Pinson Chairman | OfficerTrustee | 5 | $0 |
Matthew Ralph Treasurer | OfficerTrustee | 5 | $0 |
Kyle Friesenhahn Director | Trustee | 5 | $0 |
Rodolfo Pena Vice Chairma | OfficerTrustee | 5 | $0 |
Ignacio Orozco Jr Secretary | OfficerTrustee | 5 | $0 |
Clare Coleman Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Leonard Contracting Services Construction | 12/30/22 | $3,512,294 |
Pscu Payment Systetm | 12/30/22 | $1,599,510 |
Jack Henry & Associates Inc Software | 12/30/22 | $886,853 |
Lumin Digital Llc Software | 12/30/22 | $854,590 |
Key Title Group Title Insurance | 12/30/22 | $1,030,325 |
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 | $47,738,456 |
| Investment income | $11,641,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $785,885 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,165,832 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $178,386 |
| 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. | $1,738,956 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,767,202 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,631,862 |
| Payroll taxes | $1,329,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,680 |
| Fees for services: Accounting | $240,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $150,226 |
| Fees for services: Other | $4,535,838 |
| Advertising and promotion | $1,802,415 |
| Office expenses | $4,223,421 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,413,441 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $292,755 |
| Interest | $8,878,022 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,959,607 |
| Insurance | $270,222 |
| All other expenses | $151,384 |
| Total functional expenses | $54,389,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,901,519 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,662,749 |
| Loans from Officers, Directors, or Controlling Persons | $14,823,984 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $732,630,753 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,532,691 |
| Net Land, buildings, and equipment | $31,837,313 |
| Investments—publicly traded securities | $325,695,268 |
| Investments—other securities | $64,955,289 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,988,496 |
| Total assets | $1,229,028,062 |
| Accounts payable and accrued expenses | $6,658,836 |
| 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 | $94,244,501 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,057,938,298 |
| Total liabilities | $1,158,841,635 |
| 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 | $70,186,427 |
| Total liabilities and net assets/fund balances | $1,229,028,062 |
Grants Awarded
Over the last fiscal year, Firstmark Credit Union has awarded $178,386 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FIRSTMARK CREDIT UNION FOUNDATION PURPOSE: DONATIONS | $150,000 |
SAN ANTONIO AREA FOUNDATION PURPOSE: SCHOLARSHIPS | $20,000 |
FIRSTMARK CREDIT UNION FOUNDATION PURPOSE: ADMIN. EXPENSES | $8,386 |