Texas Bridge Credit Union
- Assets
- $74.9m
- Revenue
- $3.6m
- Investments
- $20.5m
- Employees
- 23
- Location
- Corpus Christi, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1158516
Organization Overview
Texas Bridge Credit Union is located in Corpus Christi, 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 12/2021, Texas Bridge Credit Union employed 23 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Bridge 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 12/2021, Texas Bridge Credit Union generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TEXAS BRIDGE CREDIT UNION IS COMMITTED TO BEING THE PRIMARY FINANCIAL INSTITUTION OF ITS FIELD OF MEMBERSHIP BY PROVIDING QUALITY FINANCIAL SERVICES - CONT SCH O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEXAS BRIDGE CREDIT UNION IS A VOLUNTARY COOPERATIVE, NOT-FOR-PROFIT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Brooks CEO | Officer | 40 | $131,391 |
Mark Avelar Exec. Vice Pre | Officer | 40 | $116,880 |
Armando Chapa Secretary/trea | OfficerTrustee | 1 | $0 |
John Valls Chairman Of Bo | OfficerTrustee | 1 | $0 |
Roland Barrera Vice-Chairman | OfficerTrustee | 1 | $0 |
Eugene Hernand Director | Trustee | 1 | $0 |
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 | $3,518,376 |
| Investment income | $90,988 |
| 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 | $3,609,364 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $222,549 |
| Compensation of current officers, directors, key employees. | $249,502 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $894,164 |
| Pension plan accruals and contributions | $57,659 |
| Other employee benefits | $0 |
| Payroll taxes | $86,018 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,317 |
| Fees for services: Accounting | $26,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $76,071 |
| Office expenses | $496,276 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $220,194 |
| Travel | $9,625 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,355 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,806,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $993,955 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,876,476 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $123,291 |
| Net Land, buildings, and equipment | $2,309,659 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $20,472,912 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $129,166 |
| Total assets | $74,914,850 |
| Accounts payable and accrued expenses | $660,375 |
| 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 | $68,545,515 |
| Total liabilities | $69,205,890 |
| 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 | $5,708,960 |
| Total liabilities and net assets/fund balances | $74,914,850 |
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