Belen Railway Employees Credit Union
- Assets
- $30.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Belen, NM
- Founding
- 01/1973
- Data as of
- 12/2017
- EIN
- 85-0234701
Organization Overview
Belen Railway Employees Credit Union is located in Belen, NM. The organization was established in 1973. 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 12/2017, Belen Railway Employees Credit Union employed 10 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Belen Railway 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 12/2017, Belen Railway Employees Credit Union generated $1.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2017. While expenses have increased by 6.0% per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
NEW MEXICO STATE CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE CHARTERED CREDIT UNION PROVIDING FINANCIAL SERVICES TO ITS MEMBERS AS PROVIDED BY THE NEW MEXICO CREDIT UNION ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerry Troyer CEO | Officer | 40 | $89,770 |
Terrilee Young Operations Mgr/compliance Officer | Officer | 40 | $54,400 |
Horacio Padilla Vice-Chairperson | OfficerTrustee | 1 | $0 |
James Knecht Secretary | OfficerTrustee | 1 | $0 |
Luis Baca Chairperson | OfficerTrustee | 1 | $0 |
Norman Mcdonald Treasurer | OfficerTrustee | 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 | $1,299,583 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,498,652 |
| 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. | $144,269 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $239,094 |
| Pension plan accruals and contributions | $9,505 |
| Other employee benefits | $47,260 |
| Payroll taxes | $30,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $333 |
| Fees for services: Accounting | $5,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,641 |
| Advertising and promotion | $33,374 |
| Office expenses | $51,365 |
| Information technology | $38,973 |
| Royalties | $0 |
| Occupancy | $34,983 |
| Travel | $4,769 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,692 |
| Interest | $153,149 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,220 |
| Insurance | $20,909 |
| All other expenses | $28,633 |
| Total functional expenses | $1,145,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,831 |
| Savings and temporary cash investments | $9,086,555 |
| 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 | $19,389,157 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,926 |
| Net Land, buildings, and equipment | $1,487,106 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $427,652 |
| Total assets | $30,627,227 |
| Accounts payable and accrued expenses | $51,402 |
| 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 | $26,670,995 |
| Total liabilities | $26,722,397 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $3,904,830 |
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