Nonprofit · EIN 74-1110172
GULF CREDIT UNION
Tax-exempt · GROVES, TX 77619
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $13,985,984 | $12,795,695 | $1,190,289 | $312,762,443 | $285,955,200 | $26,807,243 |
| December 31, 2023 | 990 | $16,948,632 | $14,605,125 | $2,343,507 | $317,965,711 | $295,380,230 | $22,585,481 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $14,472,072
- Investment income
- $1,636,558
- Net gain from sales of assets
- -$1,260
- Other revenue
- -$2,122,646
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $585,503
- Other salaries and wages
- $4,542,867
- Salaries, compensation and benefits (total)
- $5,258,967
- Professional fundraising fees
- $0
- Legal fees
- $20,732
- Accounting fees
- $86,194
- Occupancy
- $890,712
- Travel
- $42,816
- Depreciation
- $972,186
Balance sheet and other
- Total assets, start of year
- $317,965,711
- Total assets, end of year
- $312,762,443
- Total liabilities, end of year
- $285,955,200
- Net assets, end of year
- $26,807,243
- Land, buildings and equipment
- $16,901,723
- Gross unrelated business income
- $95,356
- Gross receipts
- $13,995,244
- Employees
- 89
- Year formed
- 1939
- State of legal domicile
- TX
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 |
|---|---|---|---|
| Todd Gaudin | CEO Officer | 40 | $318,029 |
| Stephine Adams | COO Officer | 40 | $180,742 |
| Derek Landry | CLO Officer | 40 | $30,000 |
| Barry Gorman | Director Trustee or director | 1 | $0 |
| Johnny Lewallen | Chairperson Trustee or director | 1 | $0 |
| Robert Lovelace | Vice Chairperson Trustee or director | 1 | $0 |
| Dustin Marsh | Advisory Director Trustee or director | 1 | $0 |
| Karen Brown | Director Trustee or director | 1 | $0 |
| Joshua Lege | Director Trustee or director | 1 | $0 |
| Logan Delcombre | Secretary/Treasurer Trustee or director | 1 | $0 |
| Jason Howard | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Todd Gaudin | CEO Officer | 40 | $319,145 | $12,621 |
| Stephine Adams | COO Officer | 40 | $162,518 | $12,288 |
| Linda Kiker Rials | CFO Officer | 40 | $136,482 | $15,860 |
| Bambi D McGinn | Chief Information Officer | 40 | $128,059 | $6,985 |
| Barry Gorman | Vice Chairman Trustee or director, Officer | 0.81 | $0 | $0 |
| Johnny Lewallen | Chairman Trustee or director, Officer | 0.85 | $0 | $0 |
| Robert Lovelace | Director Trustee or director | 0.85 | $0 | $0 |
| Dustin Marsh | Director Trustee or director | 0.77 | $0 | $0 |
| Karen Brown | Director Trustee or director, Officer | 0.81 | $0 | $0 |
| Logan Delcambre | Secretary/Treas Trustee or director | 0.88 | $0 | $0 |
| Joshua Lege | Director Trustee or director | 0.88 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 848, GROVES, TX 77619-0848
- Principal officer (990 for 2024)
- Todd Gaudin, 2779 A Aero Driv, Port Arthur, TX 77640
- Signed the 990
- Todd Gaudin, CEO
- Phone
- (409) 963-1191
- Website
- www.gecu.org
- Return prepared by
- Sticker & Co Tax Service LLC
Mission
See Schedule O
Program accomplishments
- Gulf Credit Union offers share savings accounts with advantages to members of all ages. The credit union had 24,149 member-owned accounts as of December 31,2024. Member savings accounts pay dividends quarterly and offer access via multiple avenues such as home banking, the Internet, and phone banking.
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
- 74-1110172
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1976
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 2742: CREDIT UNION DEPARTMENT OF THE STATE OF TEXAS
- Assets (IRS master file)
- $312,762,443
- Income (IRS master file)
- $13,995,244
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $13,985,984 | $12,795,695 | $312,762,443 | IRS |
| 990 | December 2023 | $16,948,632 | $14,605,125 | $317,965,711 | XML |
| 990 | December 2022 | $13,218,033 | $12,024,970 | $325,190,904 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
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 74-1110172).
Questions about GULF CREDIT UNION
- What is the EIN of GULF CREDIT UNION?
- The employer identification number (EIN) of GULF CREDIT UNION is 74-1110172.
- Is GULF CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
- Are donations to GULF CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GULF 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 GULF 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 GULF 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 GULF CREDIT UNION?
- The 990 for the year ended December 31, 2024 names Todd Gaudin.
- Who are the officers and directors of GULF CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 11 people; 3 received compensation from the organization, the highest $318,029 (Todd Gaudin, CEO).
- How much revenue does GULF CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $13,985,984, expenses of $12,795,695 and total assets of $312,762,443 at year end.
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