Lone Star Credit Union
- Assets
- $175.9m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 47
- Location
- Dallas, TX
- Founding
- 06/1976
- Data as of
- 12/2023
- EIN
- 75-1253045
Organization Overview
Lone Star 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, Lone Star Credit Union employed 47 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lone Star 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, Lone Star Credit Union generated $9.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $9.4m during the year ending 12/2023. While expenses have increased by 6.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES FOR MEMBERS IN OUR COMMUNITY CHARTER FIELD OF MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES FOR MEMBERS INCLUDING CONSUMER LOANS, CHECKING ACCOUNTS, AND SHARE SAVINGS ACCOUNTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Price Board Chairperson | Trustee | 1 | $0 |
Ryan Holloway Board Vice Chairperson | Trustee | 1 | $0 |
Kimberly Marszalek Board Secretary/treasurer | Trustee | 1 | $0 |
Graham Sweeney Director | Trustee | 1 | $0 |
Jerry Clancy Director | Trustee | 1 | $0 |
Marki Holmes Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pscu Credit And Debit Processing | 12/30/23 | $448,991 |
Dbsi Construction Service | 12/30/23 | $2,333,868 |
Softchoice Corporation Network Equipment And Software Licensing | 12/30/23 | $158,325 |
Pure It Credit Union Services Network Infrastructure Maintenance | 12/30/23 | $104,784 |
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 | $8,793,964 |
| Investment income | $1,024,114 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,651 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,807,427 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,576 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $758,068 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,141,012 |
| Pension plan accruals and contributions | $92,519 |
| Other employee benefits | $373,279 |
| Payroll taxes | -$8,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,921 |
| Fees for services: Accounting | $24,039 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $96,153 |
| Advertising and promotion | $252,167 |
| Office expenses | $1,229,698 |
| Information technology | $715,551 |
| Royalties | $0 |
| Occupancy | $602,379 |
| Travel | $14,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,589 |
| Interest | $1,765,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $238,744 |
| Insurance | $74,278 |
| All other expenses | $0 |
| Total functional expenses | $9,426,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,025,221 |
| Savings and temporary cash investments | $21,093,558 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $469,586 |
| Loans from Officers, Directors, or Controlling Persons | $338,891 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $114,858,926 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $776,818 |
| Net Land, buildings, and equipment | $11,334,747 |
| Investments—publicly traded securities | $20,478,046 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,573,142 |
| Total assets | $175,948,935 |
| Accounts payable and accrued expenses | $1,745,617 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $120,711 |
| 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 | $160,572,332 |
| Total liabilities | $162,438,660 |
| 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 | $13,510,275 |
| Total liabilities and net assets/fund balances | $175,948,935 |