Cabot Community Credit Union
- Assets
- $39.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Pampa, TX
- Founding
- 06/1976
- Data as of
- 12/2022
- EIN
- 75-0887815
Organization Overview
Cabot Community Credit Union is located in Pampa, 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 12/2022, Cabot Community Credit Union employed 14 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Cabot Community 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 12/2022, Cabot Community Credit Union generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 2.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ALL MEMBERS WITH COMPETITIVELY PRICED FINANCIAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION PROVIDES LOAN, CHECKING, AND SAVINGS SERVICES, AS WELL AS WIRE TRANSFERS, DEBIT AND CREDIT CARD SERVICES TO ALL ELIGIBLE MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Howell CEO | OfficerTrustee | 40 | $66,963 |
James Allen Chairman | OfficerTrustee | 1 | $0 |
Kurt Hirschler Vice Chairman | OfficerTrustee | 1 | $0 |
Denise Locknane Secretary/treasurer | OfficerTrustee | 1 | $0 |
Leona Wills Member | Trustee | 1 | $0 |
Melody Oliphant Member | Trustee | 1 | $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 | $1,448,953 |
| Investment income | $93,750 |
| 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 | $2,096,070 |
| 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. | $66,963 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $316,345 |
| Pension plan accruals and contributions | $61,606 |
| Other employee benefits | $84,867 |
| Payroll taxes | $30,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,921 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,845 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,548 |
| Office expenses | $93,214 |
| Information technology | $102,242 |
| Royalties | $0 |
| Occupancy | $92,029 |
| Travel | $6,870 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,557 |
| Interest | $32 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,647 |
| Insurance | $33,343 |
| All other expenses | $173,196 |
| Total functional expenses | $1,810,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,054 |
| Savings and temporary cash investments | $8,193,227 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,144 |
| Loans from Officers, Directors, or Controlling Persons | $74,729 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,145,117 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,783 |
| Net Land, buildings, and equipment | $1,145,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $452,116 |
| Total assets | $39,455,706 |
| Accounts payable and accrued expenses | $306,059 |
| 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 | $39,471 |
| Total liabilities | $345,530 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $34,631,265 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,478,911 |
| Total liabilities and net assets/fund balances | $39,455,706 |
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