Nonprofit · EIN 75-1084210
FIRST BASIN CREDIT UNION
Tax-exempt · ODESSA, TX 79765
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $19,703,028 | $18,362,236 | $1,340,792 | $309,895,907 | $280,876,715 | $29,019,192 |
| December 31, 2023 | 990 | $19,937,091 | $18,921,032 | $1,016,059 | $314,372,660 | $287,857,768 | $26,514,892 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $14,357,585
- Investment income
- $1,120,072
- Net rental income
- $224,153
- Other revenue
- $4,225,371
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $854,688
- Other salaries and wages
- $4,641,758
- Salaries, compensation and benefits (total)
- $6,880,269
- Professional fundraising fees
- $0
- Accounting fees
- $60,000
- Occupancy
- $637,040
- Travel
- $1,082
- Depreciation
- $1,088,698
Balance sheet and other
- Total assets, start of year
- $314,372,660
- Total assets, end of year
- $309,895,907
- Total liabilities, end of year
- $280,876,715
- Net assets, end of year
- $29,019,192
- Land, buildings and equipment
- $26,889,308
- Publicly traded securities
- $54,627,222
- Gross unrelated business income
- $56,555
- Gross receipts
- $19,757,954
- Employees
- 147
- Volunteers
- 0
- Year formed
- 1965
- 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 | Other / benefits |
|---|---|---|---|---|
| SHEM CULPEPPER | PRESIDENT/CEO/DIRECTOR Trustee or director, Officer | 40 | $360,314 | $48,018 |
| TIMOTHY O'REILLY | CHIEF MARKETING OFFICER Key employee | 40 | $216,191 | $33,972 |
| WILLIAM DOUGLAS SYPOLT | CHIEF LENDING OFFICER Highest-paid employee | 40 | $162,531 | $12,086 |
| ANA GONZALEZ-ALVARADO | CHIEF FINANCIAL OFFICER Officer | 40 | $160,712 | $12,681 |
| BRADLEY STILLWELL | CHIEF OPERATIONS OFFICER Highest-paid employee | 40 | $151,400 | $20,066 |
| JULIA TARIN | CHIEF RETAIL OFFICER Highest-paid employee | 40 | $158,985 | $5,068 |
| SAMUEL GONZALEZ | CHAIPERSON Trustee or director | 2 | $4,800 | $0 |
| REBECCA MARLER | BOARD TREASURER Trustee or director | 2 | $4,800 | $0 |
| WESLEY BURNETT | BOARD MEMBER Trustee or director | 2 | $4,800 | $0 |
| GARY WINDHAM | BOARD SECRETARY Trustee or director | 2 | $4,400 | $0 |
| CATHY LARACUENTE | BOARD VICE CHAIRPERSON Trustee or director | 2 | $4,000 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SHEM CULPEPPER | CHIEF EXECUTIVE OFFICER Officer | 40 | $398,046 | $72,220 |
| TIMOTHY O'REILLY | CHIEF MARKETING OFFICER Key employee | 40 | $224,441 | $40,530 |
| WILLIAM DOUGLAS SYPOLT | CHIEF LENDING OFFICER Highest-paid employee | 40 | $165,420 | $11,111 |
| BRADLEY STILLWELL | CHIEF OPERATIONS OFFICER Highest-paid employee | 40 | $154,681 | $5,945 |
| ANA GONZALEZ | CHIEF FINANCIAL OFFICER Officer | 40 | $148,271 | $10,505 |
| JULIA TARIN | CHIEF RETAIL OFFICER Highest-paid employee | 40 | $149,426 | $9,215 |
| SAMUEL GONZALEZ | CHAIPERSON Trustee or director | 1 | $4,800 | $0 |
| GARY WINDHAM | BOARD SECRETARY Trustee or director | 1 | $4,800 | $0 |
| WESLEY BURNETT | BOARD MEMBER Trustee or director | 1 | $4,800 | $0 |
| CATHY LARACUENTE | BOARD MEMBER Trustee or director | 1 | $4,800 | $0 |
| REBECCA MARLER | BOARD TREASURER Trustee or director | 1 | $4,000 | $0 |
| STEVE COMPTON | BOARD VICE CHAIRPERSON Trustee or director | 1 | $2,000 | $0 |
Address and contacts
- Address (IRS master file)
- 7100 TEXAS 191, ODESSA, TX 79765-0000
- Principal officer (990 for 2024)
- SHEM CULPEPPER, 2740 NORTH COUNTY ROAD WEST, ODESSA, TX 79764
- Signed the 990
- SHEM CULPEPPER, CEO
- Phone
- (432) 333-5600
- Website
- WWW.FIRSTBASIN.COM
- Return prepared by
- DOEREN MAYHEW
Mission
THE PURPOSE OF THE CREDIT UNION IS TO ENCOURAGE THRIFT AMONG MEMBERS, PROVIDE CREDIT AT A FAIR AND REASONABLE RATE OF INTEREST AND PROVIDE AN OPPORTUNITY TO IMPROVE THE MEMBER'S ECONOMIC CONDITION.
Program accomplishments
- LOANS TO MEMBERS
- DEPOSIT ACCOUNTS
- CARD SERVICES
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
- 75-1084210
- 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)
- $309,895,907
- Income (IRS master file)
- $19,757,954
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $19,703,028 | $18,362,236 | $309,895,907 | XML |
| 990 | December 2023 | $19,937,091 | $18,921,032 | $314,372,660 | XML |
| 990 | December 2022 | $18,692,893 | $15,925,435 | $322,243,586 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 75-1084210).
Questions about FIRST BASIN CREDIT UNION
- What is the EIN of FIRST BASIN CREDIT UNION?
- The employer identification number (EIN) of FIRST BASIN CREDIT UNION is 75-1084210.
- Is FIRST BASIN CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
- Are donations to FIRST BASIN CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FIRST BASIN 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 FIRST BASIN 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 FIRST BASIN 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 FIRST BASIN CREDIT UNION?
- The 990 for the year ended December 31, 2024 names SHEM CULPEPPER.
- Who are the officers and directors of FIRST BASIN CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 11 people; 11 received compensation from the organization, the highest $360,314 (SHEM CULPEPPER, PRESIDENT/CEO/DIRECTOR).
- How much revenue does FIRST BASIN CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $19,703,028, expenses of $18,362,236 and total assets of $309,895,907 at year end.
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