Firstmark Credit Union
- Assets
- $1.0b
- Revenue
- $59.4m
- Investments
- $44.7m
- Employees
- 318
- Location
- San Antonio, TX
- Founding
- 06/1976
- Data as of
- 12/2019
- EIN
- 74-0879805
Organization Overview
Firstmark Credit Union is located in San Antonio, 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 12/2019, Firstmark Credit Union employed 318 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Firstmark 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 12/2019, Firstmark Credit Union generated $59.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $51.4m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Firstmark Credit Union has awarded 20 individual grants totaling $228,952. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PEOPLE TO BETTER THEIR LIVES AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRSTMARK CREDIT UNION, A MEMBER OWNED AND LOCALLY CONTROLLED FINANCIAL COOPERATIVE, IS DEDICATED TO MEETING THE FINANCIAL NEEDS OF MEMBERS; PROVIDING EXCELLENCE IN PERSONALIZED SERVICE; OFFERING INNOVATIVE AND COMPREHENSIVE PRODUCTS AND SERVICES; SAFEGUARDING MEMBER INVESTMENTS BY MAINTAINING FINANCIAL STRENGTH; BEING A RESPONSIBLE EMPLOYER BY ADDRESSING THE NEEDS OF EMPLOYEES; AND BEING A RESPONSIBLE CORPORATE CITIZEN IN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathanael Tarwasokono President/ce | Officer | 50 | $428,698 |
Sridhar Kondapalli Cio | Officer | 50 | $273,224 |
Gregg Thorne Cao | Officer | 50 | $218,763 |
Michael Grundon CFO | Officer | 50 | $212,589 |
Dawn Sloans Executive Di | Officer | 50 | $209,856 |
Tamika Baker Cso | Officer | 50 | $189,673 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Albert Uresti Mpa Pcc Tax Assessor | 12/30/19 | $837,337 |
Alamo Cleaning Services Group Cleaning Svcs | 12/30/19 | $470,980 |
Smith Protective Services Security Guards | 12/30/19 | $736,417 |
Q2 Software Inc Software | 12/30/19 | $911,490 |
Jack Henry & Associates Inc Software | 12/30/19 | $776,077 |
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 | $50,943,518 |
| Investment income | $7,672,428 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $829,972 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,445,918 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,500 |
| 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. | $1,995,467 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,146,430 |
| Pension plan accruals and contributions | -$438,416 |
| Other employee benefits | $2,352,836 |
| Payroll taxes | $1,201,544 |
| Fees for services: Management | $192,748 |
| Fees for services: Legal | $204,538 |
| Fees for services: Accounting | $204,246 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $159,773 |
| Fees for services: Other | $5,857,467 |
| Advertising and promotion | $1,186,052 |
| Office expenses | $5,305,949 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,240,208 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $426,001 |
| Interest | $8,786,135 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,898,845 |
| Insurance | $25,522 |
| All other expenses | $0 |
| Total functional expenses | $51,413,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,647,068 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,204,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $693,333,670 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,615,886 |
| Net Land, buildings, and equipment | $23,610,873 |
| Investments—publicly traded securities | $216,487,418 |
| Investments—other securities | $44,675,571 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,436,058 |
| Total assets | $1,020,010,997 |
| Accounts payable and accrued expenses | $6,181,130 |
| 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 | $49,589,583 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $854,363,115 |
| Total liabilities | $910,133,828 |
| 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 | $109,877,169 |
| Total liabilities and net assets/fund balances | $1,020,010,997 |
Grants Awarded
Over the last fiscal year, Firstmark Credit Union has awarded $49,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
San Antonio, TX PURPOSE: SCHOLARSHIPS | $20,000 |
San Antonio, TX PURPOSE: SPONSORSHIP | $19,500 |
San Antonio, TX PURPOSE: DONATIONS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ttcu Federal Credit Union Tulsa, OK | $2,019,744,867 | $107,654,707 |
Credit Union Of Texas Allen, TX | $1,393,394,999 | $92,923,025 |
First Community Credit Union Of Houston Houston, TX | $1,792,099,234 | $78,841,838 |
Texas Trust Credit Union Arlington, TX | $1,344,628,631 | $71,525,575 |
Firstmark Credit Union San Antonio, TX | $1,020,010,997 | $59,445,918 |
First Service Credit Union Houston, TX | $759,318,816 | $51,399,270 |
State Chartered Credit Unions In Louisiana Baton Rouge, LA | $396,477,801 | $48,572,194 |
Neighborhood Credit Union Dallas, TX | $810,062,773 | $51,652,385 |
Fort Worth Community Credit Union Bedford, TX | $1,001,618,613 | $47,287,563 |
Velocity Credit Union Austin, TX | $849,082,564 | $51,540,286 |
United Heritage Credit Union Austin, TX | $1,074,547,983 | $48,829,880 |
Intouch Credit Union Plano, TX | $920,945,761 | $42,962,924 |