Texas Telcom Credit Union
- Assets
- $57.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Dallas, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 75-0899177
Organization Overview
Texas Telcom Credit Union is located in Dallas, 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, Texas Telcom Credit Union employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texas Telcom 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, Texas Telcom Credit Union generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
PROVIDER OF CREDIT UNION FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTARY, COOPERATIVE, NON-PROFIT SAVINGS INSTITUTION (CREDIT UNION), INCORPORATED UNDER THE PROVISIONS OF THE TEXAS CREDIT UNION ACT, FOR THE PURPOSE OF ENCOURAGING THRIFT AMONG ITS MEMBERS, PROVIDING CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDING AN OPPORTUNITY TO IMPROVE THEIR ECONOMIC CONDITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Toler President/ceo | Officer | 40 | $142,934 |
Ed Long Jr Board Member | Trustee | 1 | $720 |
Michael Robbins Chairman Of The Board | Trustee | 1 | $720 |
Jim Williams Vice Chairman Of Board | Trustee | 1 | $720 |
Robert Edmondson Jr Board Member | Trustee | 1 | $720 |
Larry Starrett Board Member | Trustee | 1 | $660 |
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 | $2,103,497 |
| Investment income | $341,544 |
| 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 | $2,445,041 |
| 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. | $147,134 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $480,701 |
| Pension plan accruals and contributions | $54,921 |
| Other employee benefits | $33,448 |
| Payroll taxes | $48,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,736 |
| Fees for services: Accounting | $13,334 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,271 |
| Advertising and promotion | $156,050 |
| Office expenses | $113,093 |
| Information technology | $233,571 |
| Royalties | $0 |
| Occupancy | $81,432 |
| Travel | $2,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | -$5,833 |
| Interest | $788,696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,501 |
| Insurance | $26,881 |
| All other expenses | -$1,944 |
| Total functional expenses | $2,547,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,233 |
| Savings and temporary cash investments | $3,003,646 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,473 |
| Loans from Officers, Directors, or Controlling Persons | $122,944 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,505,090 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $200,085 |
| Net Land, buildings, and equipment | $858,731 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $22,079,268 |
| Intangible assets | $0 |
| Other assets | $180,773 |
| Total assets | $57,273,243 |
| Accounts payable and accrued expenses | $113,432 |
| 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 | $113,432 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $49,463,608 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,696,203 |
| Total liabilities and net assets/fund balances | $57,273,243 |