Nce Credit Union
- Assets
- $5.4m
- Revenue
- $321.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Corpus Christi, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1383594
Organization Overview
Nce 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, Nce Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Nce 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, Nce Credit Union generated $321.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $277.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) 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
ESTABLISH AND MAINTAIN A PROPERLY MANAGED CREDIT UNION OPERATING AT MAXIMUM FINANCIAL LEVELS AND RENDERING PROMPT, COURTEOUS SERVICE FOR ALL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION REMAINS STRONG
CREDIT UNION CONTINUES WITH MONTHLY LOAN PROMOTIONS
CREDIT UNION MEMBER SERVICES IS ALWAYS A PRIORITY.
REFER TO EXEMPT PURPOSE ACCOMPLISHMENTS LISTED IN PART III, PAGE 2 OF THIS RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juan M Escobar Chairman | OfficerTrustee | $0 | |
Brenda K Nunez Secretary/tr | OfficerTrustee | $0 | |
Irene M Herrera Vice Chairma | OfficerTrustee | $0 | |
Judge Thelma Rodriguez Director | Trustee | $0 | |
Kerry Ginn Director | 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 | $314,937 |
| Investment income | $6,667 |
| 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 | $321,604 |
| 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 | $12,211 |
| 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 | $149,885 |
| Pension plan accruals and contributions | $7,892 |
| Other employee benefits | $16,518 |
| Payroll taxes | $12,139 |
| 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 | $30,004 |
| Advertising and promotion | $173 |
| Office expenses | $41,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,607 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,345 |
| Insurance | $10,610 |
| All other expenses | -$25,483 |
| Total functional expenses | $277,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,773 |
| Savings and temporary cash investments | $0 |
| 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 | $3,258,336 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,212 |
| Net Land, buildings, and equipment | $3,119 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,084,529 |
| Intangible assets | $0 |
| Other assets | $7,771 |
| Total assets | $5,422,740 |
| Accounts payable and accrued expenses | $27,181 |
| 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 | $4,315,084 |
| Total liabilities | $4,342,265 |
| 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 | $1,080,475 |
| Total liabilities and net assets/fund balances | $5,422,740 |
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