Coastlife Credit Union
- Assets
- $459.3m
- Revenue
- $21.7m
- Investments
- $64.4m
- Employees
- 165
- Location
- Corpus Christi, TX
- Founding
- 01/1964
- Data as of
- 12/2021
- EIN
- 74-1505143
Organization Overview
Coastlife Credit Union is located in Corpus Christi, TX. The organization was established in 1964. 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, Coastlife Credit Union employed 165 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Coastlife 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, Coastlife Credit Union generated $21.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $15.9m during the year ending 12/2021. While expenses have increased by 0.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO CHANGE LIVES BY HELPING EACH PERSON NAVIGATE THEIR FINANCIAL JOURNEY
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTEREST ON LOANS FOR MEMBERS WHO ARE ELIGIBLE; MAIN EXPENSE FOR THIS PROGRAM IS THE PROVISION FOR LOAN LOSS
FEES AND PROGRAMS; THIS IS REVENUE FROM CHECKING; SAVINGS AND FINANCIAL INSTITUTION TRANSACTIONS
MISC OPERATING REVENUE
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Bryant CEO | 40 | $329,262 | |
Leanne Mulholland COO | Officer | 40 | $118,045 |
Yvonne Alaniz-Carpentier CFO | Officer | 40 | $101,087 |
Ken Combs Chairperson | OfficerTrustee | 10 | $0 |
Lynda Deleon Vice Chairperson | OfficerTrustee | 10 | $0 |
Michael Sandroussi Treasurer | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ibg Construction Design Build | 12/30/21 | $6,627,331 |
Fiserv Core Processor | 12/30/21 | $1,234,076 |
Think Stack It Networking Consultant | 12/30/21 | $1,020,367 |
Payentry Employee Benefits | 12/30/21 | $575,892 |
Merchant Services Debit Card Services | 12/30/21 | $733,580 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,231 |
| 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 | $10,231 |
| Total Program Service Revenue | $21,017,726 |
| Investment income | $497,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,400 |
| Net Gain/Loss on Asset Sales | $10,607 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,652,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,338,985 |
| Compensation of current officers, directors, key employees. | $548,394 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,262,261 |
| Pension plan accruals and contributions | -$710,439 |
| Other employee benefits | $395,087 |
| Payroll taxes | $355,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,267 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,825 |
| Fees for services: Other | $0 |
| Advertising and promotion | $192,982 |
| Office expenses | $1,395,926 |
| Information technology | $1,570,577 |
| Royalties | $0 |
| Occupancy | $607,102 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $256,018 |
| Insurance | $70,972 |
| All other expenses | $158,024 |
| Total functional expenses | $15,930,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,334,756 |
| 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 | $289,446,591 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,913,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $64,416,748 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,237,632 |
| Total assets | $459,349,679 |
| Accounts payable and accrued expenses | $6,207,876 |
| 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 | $400,702,169 |
| Total liabilities | $406,910,045 |
| 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 | $52,439,634 |
| Total liabilities and net assets/fund balances | $459,349,679 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $599,377,066 | $59,950,337 |
Firstmark Credit Union San Antonio, TX | $1,229,967,544 | $50,715,745 |
True Sky Credit Union Oklahoma City, OK | $831,301,668 | $47,281,663 |
United Heritage Credit Union Austin, TX | $1,405,950,790 | $55,051,200 |
First Service Credit Union Houston, TX | $855,098,387 | $54,328,304 |
Neighborhood Credit Union Dallas, TX | $1,066,752,639 | $52,511,237 |
Velocity Credit Union Austin, TX | $1,067,927,517 | $65,298,866 |
Texans Credit Union Richardson, TX | $2,114,687,717 | $56,103,692 |
Resource One Credit Union Dallas, TX | $739,668,611 | $42,535,084 |
Fort Worth Community Credit Union Bedford, TX | $1,211,753,992 | $43,127,818 |
Weokie Federal Credit Union Oklahoma City, OK | $1,024,486,254 | $42,986,888 |
Community Resource Credit Union Baytown, TX | $712,967,542 | $43,169,320 |