Suntide Credit Union
- Assets
- $81.3m
- Revenue
- $602.9k
- Investments
- $0.0
- Employees
- 66
- Location
- Corpus Christi, TX
- Founding
- Data as of
- 12/2016
- EIN
- 74-1282189
Organization Overview
Suntide Credit Union is located in Corpus Christi, TX. As of 12/2014, Suntide Credit Union employed 66 individuals. Suntide 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 12/2016, Suntide Credit Union generated $602.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (72.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2016. As we would expect to see with falling revenues, expenses have declined by (64.3%) per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE CREDIT UNION MET ITS GOAL FOR PROVIDING SERVICE TO UNDER-SERVED INDIVIDUALS IN NUECES AND SAN PATRICIO COUNTIES. FULL SERVICE BANKING PRODUCTS ARE OFFERED AS WELL AS THE DEVELOPMENT OF MEMBER RELATIONSHIPS TO ASSIST LOW INCOME INDIVIDUALS IN FINANCIAL AFFAIRS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION MET ITS GOAL FOR PROVIDING SERVICE TO UNDER-SERVED INDIVIDUALS IN NUECES AND SAN PATRICIO COUNTIES. FULL SERVICE BANKING PRODUCTS ARE OFFERED AS WELL AS THE DEVELOPMENT OF MEMBER RELATIONSHIPS TO ASSIST LOW INCOME INDIVIDUALS IN FINANCIAL AFFAIRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Perry J Wade President & | Officer | $0 | |
Paula Garza Executive VP | Officer | $0 | |
Willie Shumake Advisory Dir | Trustee | $0 | |
Pablo Garza Director | Trustee | $0 | |
Frank Pena Director | Trustee | $0 | |
Anthony Coberly Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $3,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,159 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $602,937 |
| Statement of Expenses | |
|---|---|
| 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. | $35,822 |
| Compensation to disqualified persons | $138,207 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $2,849 |
| Other employee benefits | $20,130 |
| Payroll taxes | $14,974 |
| 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 | $0 |
| Office expenses | $24,310 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,197 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,616 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,521 |
| Insurance | $0 |
| All other expenses | $14,642 |
| Total functional expenses | $1,313,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,314,924 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,980,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $300,095 |
| Intangible assets | $0 |
| Other assets | $770,191 |
| Total assets | $81,262,602 |
| Accounts payable and accrued expenses | $623,277 |
| 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 | $72,886,275 |
| Total liabilities | $73,509,552 |
| Net assets without donor restrictions | $7,335,606 |
| Net assets with donor restrictions | $417,444 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,753,050 |
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