First Basin Credit Union
Nonprofit profile at a glance
- EIN
- 751084210
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Odessa, TX, USA
- Phone
- 4323335600
- Rating confidence
- Limited
Reported finances
- Revenue
- $19,703,028
- Expenses
- $18,362,236
- Assets
- $309,895,907
- Liabilities
- $280,876,715
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- SHEM CULPEPPER (PRESIDENT/CEO/DIRECTOR)
Highest reported compensation
- SHEM CULPEPPER (PRESIDENT/CEO/DIRECTOR): $408,332 total reported compensation
- TIMOTHY O'REILLY (CHIEF MARKETING OFFICER): $250,163 total reported compensation
- WILLIAM DOUGLAS SYPOLT (CHIEF LENDING OFFICER): $174,617 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
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.
What it reported doing in 2024
Loans to members
Operating model
- Revenue model
- Earned-program. 73% of the money available for current operations came from fees and other program 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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 71
- Accountability: 100
- Sustainability: 61
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- 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: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.8%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 16.88; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 7.4%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 36th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $408K · 11 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.3M reported
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- 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.
- Review — Sustainability: Operating margin scored 59/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.