Beaumont Community Cu
- Assets
- $31.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Beaumont, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 74-1284642
Organization Overview
Beaumont Community Cu is located in Beaumont, TX. The organization was established in 1976. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Beaumont Community Cu employed 10 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Beaumont Community Cu 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, Beaumont Community Cu generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CREDIT UNION IS DEDICATED TO PROVIDING SOUND FINANCIAL SERVICES TO ITS MEMBERS IN A PERSONAL AND PROFESSIONAL MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION OFFERS ALL TYPES OF LOAN PRODUCTS AT COMPETETIVE RATES
THE CREDIT UNION OFFERS SAVINGS PRODUCTS AT COMPETETIVE RATES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angel Diamantis Manager/ceo | Officer | 40 | $77,834 |
Earl White Chairperson | OfficerTrustee | 0.5 | $0 |
Lane Nichols Vice Chair | OfficerTrustee | 0.5 | $0 |
Joe Herrera Secretary | OfficerTrustee | 0.5 | $0 |
Paula Labrie Treasurer | OfficerTrustee | 0.5 | $0 |
Johnny Beatty Director | Trustee | 0.5 | $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 | $1,131,729 |
| Investment income | $142,124 |
| 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 | $1,273,853 |
| 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. | $77,834 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $287,132 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $93,827 |
| Payroll taxes | $0 |
| 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 | $125,013 |
| Advertising and promotion | $76,379 |
| Office expenses | $119,297 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,195 |
| Travel | $5,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $334,200 |
| Total functional expenses | $1,311,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $993,771 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $269,001 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,450,006 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,071,512 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,922,170 |
| Intangible assets | $0 |
| Other assets | $94,009 |
| Total assets | $31,800,469 |
| Accounts payable and accrued expenses | $302,763 |
| 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 | $27,734,238 |
| Total liabilities | $28,037,001 |
| 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 | $3,763,468 |
| Total liabilities and net assets/fund balances | $31,800,469 |
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