Firstmark Credit Union
Nonprofit profile at a glance
- EIN
- 740879805
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- San Antonio, TX, USA
- Phone
- (210) 442-0100
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $71,306,267
- Expenses
- $70,206,287
- Assets
- $1,180,376,412
- Liabilities
- $1,089,513,614
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- GREGG THORNE (INTERIM CEO)
Highest reported compensation
- GREGG THORNE (INTERIM CEO): $561,426 total reported compensation
- MICHAEL GRUNDON (CFO): $273,800 total reported compensation
- STEVE MOTT (COO): $241,264 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Supporting Education—the Firstmark Foundation is a non-profit, 501(c)(3) public charity focused on giving back to the education community. The Firstmark Foundation announced its High Impact Grant award of $100,000 to the Alamo Colleges District (ACD), in support of five new financial resource libraries, case management and financial wellness programming, and scholarships for students. This grant blended financial wellness into the ACD’s current Student Advocacy Center Network to equip students with essential life skills that extend beyond academics, aimed to improve economic and social mobility for local graduates. SAMSAT San Antonio Museum of Science and Technology (SAMSAT) – 2024.
What it reported doing in 2024
Firstmark credit union, a member owned and locally controlled financial cooperative, is dedicated to meeting the financial needs of members; providing excellence in personalized service; offering innovative and comprehensive products and services; safeguarding member investments by maintaining financial strength; being a responsible employer by addressing the needs of employees; and being a responsible corporate citizen in the community
Operating model
- Revenue model
- Earned-program. 82% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 81
- Accountability: 91
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 17th 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: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 88.3%; rating input score 88; 21st percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.5%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 16.81; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: 49.1% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
- Asset growth: 3.9% per year; rating input score 100; 27th percentile among comparable filings
Details
- What they do: Mission, programs, and operating context captured from the official website.
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $561K · 19 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $6.1M reported
- Consistency: 31 of 32 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 13 filed money-flow records
- Related organizations: 3 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 40/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.