Wharton County Teachers Credit Union
- Assets
- $9.7m
- Revenue
- $180.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Wharton, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1213075
Organization Overview
Wharton County Teachers Credit Union is located in Wharton, 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, Wharton County Teachers Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wharton County Teachers 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, Wharton County Teachers Credit Union generated $180.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $167.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 7 years. 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
CREDIT UNION AVAILABLE TO TEACHERS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM EXPENSE TO CARRY OUT MISSION OF CREDIT UNION
TO CARRY OUT PROGRAM OF CREDIT UNION
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold Parnell President | OfficerTrustee | 40 | $24,463 |
Raymond Beall Treasurer | Officer | $0 | |
Theresa Beltran Secretary | Officer | $0 | |
Emmitt Tugwell Chairman | Officer | $0 | |
Mary W King Vice Chairma | Officer | $0 | |
Donald Lorfing Board Member | Trustee | $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 | $0 |
| Investment income | $180,548 |
| 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 | $180,548 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,973 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,802 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,104 |
| Office expenses | $17,133 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,328 |
| Travel | $1,920 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,925 |
| Interest | $7,776 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,668 |
| Insurance | $10,824 |
| All other expenses | $10,042 |
| Total functional expenses | $166,971 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,559 |
| Savings and temporary cash investments | $8,530,252 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $916,806 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,622 |
| Net Land, buildings, and equipment | $491 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,045 |
| Total assets | $9,736,775 |
| Accounts payable and accrued expenses | $16,480 |
| 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 | $7,665,172 |
| Total liabilities | $7,681,652 |
| 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 | $2,055,123 |
| Total liabilities and net assets/fund balances | $9,736,775 |
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