A New Direction Credit Union
- Assets
- $17.6m
- Revenue
- $860.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Dallas, TX
- Founding
- Data as of
- 12/2021
- EIN
- 75-1338668
Organization Overview
A New Direction Credit Union is located in Dallas, TX. As of 12/2021, A New Direction Credit Union employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. A New Direction 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, A New Direction Credit Union generated $860.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $842.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) 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
A NEW DIRECTION CREDIT UNION(FORMERLY TEXAS HEALTH RESOURCES CU) IS A COOPERATIVE THRIFT INSTITUTION, CHARTERED BY THE STATE OF TEXAS AND INSURED BY THE NATIONAL CREDIT UNION ADMINISTRATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
A NEW DIRECTION OFFERS ALL TYPES OF LOAN AND DEPOSIT PRODUCTS AT COMPETITIVE RATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne Chism President/ceo/treas. | OfficerTrustee | 40 | $73,224 |
Shryl Johnston Chairman | OfficerTrustee | 1 | $0 |
Robert Allen Vice Chair | OfficerTrustee | 1 | $0 |
Barbara Caffey Board 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 | $752,040 |
| Investment income | $9,188 |
| 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 | $860,210 |
| 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. | $73,224 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $290,023 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $92,121 |
| Advertising and promotion | $0 |
| Office expenses | $52,712 |
| Information technology | $87,458 |
| Royalties | $0 |
| Occupancy | $139,315 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,232 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,487 |
| Insurance | $23,237 |
| All other expenses | $112,251 |
| Total functional expenses | $841,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,308 |
| Savings and temporary cash investments | $6,977,108 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,085 |
| Loans from Officers, Directors, or Controlling Persons | $11,261 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,117,712 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $58,055 |
| Net Land, buildings, and equipment | $4,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,790 |
| Total assets | $17,632,702 |
| Accounts payable and accrued expenses | $22,822 |
| 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 | $16,541,007 |
| Total liabilities | $16,563,829 |
| 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 | $1,068,873 |
| Total liabilities and net assets/fund balances | $17,632,702 |
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