C T E C U

Nonprofit profile at a glance

EIN
741199174
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Houston, TX, USA
Phone
7134320038
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$452,540
Expenses
$736,923
Assets
$25,500,038
Liabilities
$20,676,740

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Jocelyn Kapalski (President/CEO)

Highest reported compensation

  • Jocelyn Kapalski (President/CEO): $174,657 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of CTECU is to offer members exceptional service, competitive interest rates, and sound financial management. This mission is accomplished by aggressive loan promotions, maximizing return on investments, and responsive member services and education.

What it reported doing in 2022

CTECU provides competitive rates on deposit accounts, promoting thrift among its membership of over 1400 members and promoting prudent financial behavior and planning. CTECU provides Savings accounts, Money Market accounts, IRA accounts, and Share draft-checking accounts as well as Certificates of Deposit (CDs). Dividends are paid monthly. Members have access to their accounts via the Shared Branching Network or Telephone access via Audio Response Unit on a 24/7 access as well as Internet access via MIA and Account Access Worldwide via ATMs and Debit cards. Competitive Rates on Deposit Accounts for 2022 resulted in 1,971 accounts and totaling $20,617,012 in outstanding balances as of 12/31/2022.

Operating model

Revenue model
Other-operating. 60% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 77
  • Accountability: 87
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -62.8%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 34.6; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -10.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -6.9% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $73K in reported program spending
  • Leadership: top reported pay $175K · 8 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.