Lcra Credit Union
- Assets
- $25.2m
- Revenue
- $896.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Austin, TX
- Founding
- 06/1976
- Data as of
- 12/2021
- EIN
- 74-1142771
Organization Overview
Lcra Credit Union is located in Austin, 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 12/2021, Lcra Credit Union employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lcra 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, Lcra Credit Union generated $896.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $759.6k during the year ending 12/2021. 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
THE MISSION OF LCRA CREDIT UNION IS TO PROVIDE EXCELLENT FINANCIAL SERVICES TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS & INVESTMENTS
CHECKING, SHARE, AND IRA ACCOUNTS
CREDIT CARDS & DEBIT CARDS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betty Mueller President | Officer | 40 | $87,972 |
Tim Lane Executive Vice President | Officer | 40 | $86,990 |
Mark Johnson Secretary | Trustee | 1 | $0 |
Dowell Garrison Chairman | Trustee | 1 | $0 |
Ken Taylor Director | Trustee | 1 | $0 |
Rita Summy Treasurer | 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 | $523,995 |
| Investment income | $249,433 |
| 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 | $896,079 |
| 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. | $174,962 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,306 |
| Pension plan accruals and contributions | $10,510 |
| Other employee benefits | $0 |
| Payroll taxes | $21,705 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $18,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,284 |
| Office expenses | $50,446 |
| Information technology | $16,246 |
| Royalties | $0 |
| Occupancy | $38,276 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,902 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,856 |
| Insurance | $21,172 |
| All other expenses | $16,078 |
| Total functional expenses | $759,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,833 |
| Savings and temporary cash investments | $1,011,713 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $417 |
| Loans from Officers, Directors, or Controlling Persons | $100,955 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,871,073 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,790 |
| Net Land, buildings, and equipment | $7,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,005,000 |
| Intangible assets | $0 |
| Other assets | $90,327 |
| Total assets | $25,225,571 |
| Accounts payable and accrued expenses | $158,325 |
| 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 | $158,325 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $22,116,644 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,950,602 |
| Total liabilities and net assets/fund balances | $25,225,571 |
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