Nonprofit · EIN 72-0719172
ESSENTIAL CREDIT UNION
Tax-exempt · BATON ROUGE, LA 70806
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $27,571,407 | $31,034,441 | -$3,463,034 | $390,096,818 | $361,902,539 | $28,194,279 |
| December 31, 2023 | 990 | $25,052,879 | $24,293,612 | $759,267 | $386,709,201 | $355,095,377 | $31,613,824 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $26,492,149
- Investment income
- $854,579
- Net rental income
- -$47,807
- Other revenue
- $224,679
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $6,792,639
- Compensation of officers, directors and key employees
- $871,915
- Other salaries and wages
- $5,887,113
- Salaries, compensation and benefits (total)
- $8,275,136
- Professional fundraising fees
- $0
- Legal fees
- $207,838
- Accounting fees
- $180,000
- Occupancy
- $3,966,374
- Travel
- $105,094
- Depreciation
- $523,735
Balance sheet and other
- Total assets, start of year
- $386,709,201
- Total assets, end of year
- $390,096,818
- Total liabilities, end of year
- $361,902,539
- Net assets, end of year
- $28,194,279
- Land, buildings and equipment
- $24,799,601
- Gross unrelated business income
- $45,865
- Gross receipts
- $27,753,115
- Employees
- 139
- Volunteers
- 4
- Year formed
- 1972
- State of legal domicile
- LA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD WILLIAMS | CEO Officer | 40 | $408,402 | $26,258 |
| WESTON MOREAU III | COO Officer | 40 | $195,884 | $22,409 |
| ALLISON ROGERS BROWN | CMO Highest-paid employee | 40 | $160,104 | $27,003 |
| KARESA HALL | CAO Highest-paid employee | 40 | $164,178 | $20,639 |
| KRUGERRAND HOLLINS | CTO Officer | 40 | $167,948 | $7,907 |
| STEVE LATTUCA | CFO Highest-paid employee | 40 | $162,964 | $6,810 |
| DAVID BEAM | VP OF LENDING Highest-paid employee | 40 | $108,188 | $25,264 |
| LADONNA EVANS-SUTTON | VP OF COMMERCIAL SERVICES Highest-paid employee | 40 | $117,300 | $13,031 |
| JOEY JUSTICE | BOARD CHAIR Trustee or director, Officer | 2 | $6,000 | $0 |
| SHERMAN DUPRE | SUPERVISORY COMMITTEE Trustee or director | 2 | $6,000 | $0 |
| EDMOND JORDAN | BOARD TREASURER Trustee or director, Officer | 2 | $5,823 | $0 |
| LOUISE CROCHET | BOARD OF DIRECTOR Trustee or director | 2 | $5,256 | $0 |
| KENITH WOODALL | BOARD OF DIRECTOR Trustee or director | 2 | $4,639 | $0 |
| PERRY ROBEY | BOARD OF DIRECTOR Trustee or director | 2 | $4,310 | $0 |
| SUE HUNT | BOARD OF DIRECTOR Trustee or director | 2 | $4,266 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEPHAN PIERRE | BOARD VICE-CHAIR Trustee or director, Officer | 2 | $4,251 |
| BOYD J COURVILLE | SUPERVISORY VICE-CHAIR Trustee or director | 2 | $2,016 |
| LISA PERRY | BOARD OF DIRECTOR Trustee or director | 2 | $546 |
| STEPHAN PIERRE | SUPERVISORY SECRETARY Trustee or director, Officer | 2 | $0 |
| ROBBIE BAGALEY | BOARD SECRETARY Trustee or director | 2 | $0 |
| RODNEY COMBS | SUPERVISORY COMMITTEE Trustee or director | 2 | $0 |
| VELVET CABALLERO | SUPERVISORY COMMITTEE Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD WILLIAMS | CEO Officer | 40 | $389,374 | $27,097 |
| WESTON MOREAU III | COO Officer | 40 | $205,203 | $23,013 |
| ALLISON ROGERS BROWN | CMO Highest-paid employee | 40 | $166,558 | $28,945 |
| KARESA PIERRE | CAO Highest-paid employee | 40 | $158,833 | $21,300 |
| KRUGERRAND HOLLINS | CTO Highest-paid employee | 40 | $165,270 | $8,021 |
| STEVE LATTUCA | CFO Officer | 40 | $153,250 | $6,267 |
| DAVID BEAM | VP OF LENDING Highest-paid employee | 40 | $119,644 | $26,655 |
| LADONNA EVANS-SUTTON | VP OF COMMERCIAL SERVICES Highest-paid employee | 40 | $116,679 | $12,580 |
| STEPHAN PIERRE | BOARD OF DIRECTOR Trustee or director | 2 | $8,029 | $0 |
| JOEY JUSTICE | BOARD CHAIR Trustee or director, Officer | 2 | $6,009 | $0 |
| F SHERMAN DUPRE | SUPERVISORY COMMITTEE Trustee or director | 2 | $6,000 | $0 |
| KENITH WOODALL | BOARD OF DIRECTOR Trustee or director | 2 | $5,893 | $0 |
| EDMOND JORDAN | BOARD TREASURER Trustee or director, Officer | 2 | $5,823 | $0 |
| LOUISE CROCHET | SUPERVISORY COMMITTEE CHAIR Trustee or director, Officer | 2 | $4,851 | $0 |
| SUE HUNT | BOARD OF DIRECTOR Trustee or director | 2 | $4,100 | $0 |
| PERRY ROBEY | BOARD OF DIRECTOR Trustee or director | 2 | $3,888 | $0 |
| BOYD J COURVILLE | SUPERVISORY COMMITTEE Trustee or director | 2 | $3,065 | $0 |
| LISA PERRY | BOARD OF DIRECTOR Trustee or director | 2 | $634 | $0 |
| ROBBIE BAGLEY | BOARD SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| MARY OVERALL | BOARD OF DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2370 TOWNE CENTER BLVD, BATON ROUGE, LA 70806-8172
- Principal officer (990 for 2024)
- RICHARD WILLIAMS, 2370 TOWNE CENTER BOULEVARD, BATON ROUGE, LA 70806
- Signed the 990
- EWA LIPINSKA, CFO
- Phone
- (225) 353-8238
- Website
- HTTPS://ESSENTIALCU.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO PROVIDE A COMMUNITY WITH FINANCIAL SOLUTIONS AND OPTIMAL SERVICE THAT SURPASSES EXPECTATIONS WHILE GIVING BACK TO THE COMMUNITIES IN WHICH WE SERVE.
Program accomplishments
- WE ARE A MEMBER OWNED COOPERATIVE CREDIT UNION. AT DECEMBER 31, 2024, WE HAD 43,011 MEMBERS. WE HAD $315.3 MILLION IN OUTSTANDING LOANS AND $344.8 MILLION IN TOTAL DEPOSITS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 72-0719172
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 2026
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W60)
- Assets (IRS master file)
- $390,096,818
- Income (IRS master file)
- $27,753,115
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $27,571,407 | $31,034,441 | $390,096,818 | XML |
| 990 | December 2023 | $25,052,879 | $24,293,612 | $386,709,201 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 72-0719172).
Questions about ESSENTIAL CREDIT UNION
- What is the EIN of ESSENTIAL CREDIT UNION?
- The employer identification number (EIN) of ESSENTIAL CREDIT UNION is 72-0719172.
- Is ESSENTIAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 2026.
- Are donations to ESSENTIAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ESSENTIAL CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ESSENTIAL CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ESSENTIAL CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ESSENTIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 names RICHARD WILLIAMS.
- Who are the officers and directors of ESSENTIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 22 people; 18 received compensation from the organization, the highest $408,402 (RICHARD WILLIAMS, CEO).
- How much revenue does ESSENTIAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $27,571,407, expenses of $31,034,441 and total assets of $390,096,818 at year end.
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