Gulf Credit Union

Nonprofit profile at a glance

EIN
741110172
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Port Arthur, TX, USA
Phone
4099631191
Rating confidence
Limited

Official website

Reported finances

Revenue
$13,985,984
Expenses
$12,795,695
Assets
$312,762,443
Liabilities
$285,955,200

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Todd Gaudin (CEO)

Highest reported compensation

  • Todd Gaudin (CEO): $318,029 total reported compensation
  • Stephine Adams (COO): $180,742 total reported compensation
  • Derek Landry (CLO): $30,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See Schedule O

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 90% 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: 55
  • Accountability: 82
  • Sustainability: 67
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 0th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.5%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 24.44; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.5% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $318K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 10 of 12 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.
  • 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: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.