Amarillo Postal Employees Credit Union
- Assets
- $18.3m
- Revenue
- $791.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Amarillo, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 75-0788782
Organization Overview
Amarillo Postal Employees Credit Union is located in Amarillo, 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 12/2023, Amarillo Postal Employees Credit Union employed 4 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Amarillo Postal Employees 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 12/2023, Amarillo Postal Employees Credit Union generated $791.4k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $816.6k during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAVINGS, CHECKING ACCOUNTS, AND LOANS FOR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAVINGS, CHECKING ACCOUNTS AND LOANS FOR MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Widick Chairman | OfficerTrustee | 1 | $0 |
Matthew Sellmyer Vice Chairman | OfficerTrustee | 1 | $0 |
Lonnie Walker Sect/treasurer | OfficerTrustee | 1 | $0 |
Kenneth Cooper Director | Trustee | 1 | $0 |
Terry Hawthorne Director | Trustee | 1 | $0 |
Jay Lewter Manager/ceo | Officer | 40 | $66,120 |
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 | $459,620 |
| Investment income | $274,172 |
| 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 | $791,438 |
| 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. | $66,120 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,538 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,991 |
| Payroll taxes | $17,790 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,039 |
| Advertising and promotion | $3,584 |
| Office expenses | $45,138 |
| Information technology | $18,897 |
| Royalties | $0 |
| Occupancy | $30,684 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,958 |
| Insurance | $20,244 |
| All other expenses | $87,984 |
| Total functional expenses | $816,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $39,232 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,659,725 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $49,208 |
| Net Land, buildings, and equipment | $66,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,165,106 |
| Intangible assets | $0 |
| Other assets | $39,020 |
| Total assets | $18,347,046 |
| Accounts payable and accrued expenses | $137,507 |
| 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 | $0 |
| Total liabilities | $137,507 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $15,782,600 |
| Paid-in or capital surplus, or land, building, or equipment fund | $310,028 |
| Retained earnings, endowment, accumulated income, or other funds | $2,116,911 |
| Total liabilities and net assets/fund balances | $18,347,046 |