ST JEANS CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ST JEANS CREDIT UNION (EIN 04-1801520)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-07-23
- IRS object ID
- 202432059349301223
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-07-23T13:18:47-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042689883 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 255 STATE STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041801520 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST JEANS CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | STJE | BusinessNameControlTxt |
| Phone | 7815925420 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 HIGHLAND AVENUE | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01970 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | C DAVID SURFACE | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 7815925420 | PhoneNum |
| Signature | 2024-07-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | C | PersonFirstNm |
| Person Last | DAVID SURFACE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 000003597 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KAREN S NG EA | PreparerPersonNm |
| PTIN | P01067482 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2024-07-23 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | C DAVID SURFACE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 HIGHLAND AVENUE | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01970 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $17,647,270 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.STJEANSCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1910 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | THE MISSION OF ST. JEAN'S CREDIT UNION IS TO FULFILL THE NEEDS OF OUR DIVERSE MEMBERSHIP WITH THE UTMOST INTEGRITY AND PRIVACY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 79 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $35,751 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $363,621 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,822,225 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,471,533 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,468,862 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,628,357 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,125,804 | PYOtherRevenueAmt |
| CY Other Revenue | $1,183,759 | CYOtherRevenueAmt |
| PY Total Revenue | $12,416,891 | PYTotalRevenueAmt |
| CY Total Revenue | $17,647,270 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $50,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $127,110 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,255,596 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,048,911 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,077,209 | PYOtherExpensesAmt |
| CY Other Expenses | $9,069,923 | CYOtherExpensesAmt |
| PY Total Expenses | $10,382,805 | PYTotalExpensesAmt |
| CY Total Expenses | $15,245,944 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,034,086 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,401,326 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $334,286,442 | TotalAssetsBOYAmt |
| Total Assets EOY | $367,484,676 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $307,493,057 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $337,592,441 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $26,793,385 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $29,892,235 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ST. JEAN'S CREDIT UNION (THE "CREDIT UNION") IS A STATE-CHARTERED CREDIT UNION. ITS PRIMARY BUSINESS IS THE ACCEPTANCE OF DEPOSITS AND THE MAKING OF LOANS TO MEMBERS WHO LIVE OR WORK IN IN THE ESSEX, MIDDLESEX, AND SUFFOLK COUNTIES OF THE COMMONWEALTH OF MASSACHUSETTS, RETIREES OF THE CITY OF REVERE & THE TOWN OF WINTHROP, MASSACHUSETTS, THE EMPLOYEES OF H.P. HOOD LLC, AND MEMBERS' IMMEDIATE FAMILY, DEFINED AS SPOUSE, SON, DAUGHTER, MOTHER, FATHER, SISTER, OR BROTHER. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | THE MAINTENANCE OF MEMBER ACCOUNTS AND PAYMENT OF DIVIDENDS THEREON. THE CREDIT UNION MAINTAINS 35,192 MEMBER ACCOUNTS AS OF THE CALENDAR YEAR-END. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 6395 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 79 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 10 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STEPHEN PEDRO CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9782191027 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 HIGHLAND AVENUE | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01970 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| C DAVID SURFACE | ||||||||
| PRESIDENT/CEO | 40.00 | Yes (X) | Yes (X) | $417,425 | $0 | $48,823 | ||
| IRA NOVOSELSKY | ||||||||
| TREASURER/CLERK/DIRECTOR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| LAWRENCE RAUSCH | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| CHERYL CROUNSE | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN SALVO | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| STEVEN WALSH | ||||||||
| CHAIRMAN | 4.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| PAUL AMIRAULT | ||||||||
| 1ST VICE CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| TIMOTHY SHEA | ||||||||
| 2ND VICE CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| SHAWN NEWTON | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JOY LIVRAMENTO-BRYANT | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| GEORGE ANZUONI | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| KATHLEEN DONAHUE | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.00 | $175,140 | $0 | $33,916 | Yes (X) | |||
| STEPHEN PEDRO | ||||||||
| CFO | 40.00 | $155,250 | $0 | $34,831 | Yes (X) | |||
| CHRISTOPHER NARDONE | ||||||||
| VP OF REAL ESTATE LENDING | 40.00 | $131,250 | $0 | $30,794 | Yes (X) | |||
| NICOLE COKOROGIANIS | ||||||||
| VP IT | 40.00 | $134,250 | $0 | $23,864 | Yes (X) | |||
| JAMES METCALF | ||||||||
| VP CONSUMER LENDING | 40.00 | $142,500 | $0 | $18,096 | Yes (X) | |||
| KATHRYN MACDONALD | ||||||||
| VP OF COMPLIANCE | 40.00 | $126,650 | $0 | $25,232 | Yes (X) | |||
| ALINE PAVAO | ||||||||
| DIR OF HUMAN RESOURCES | 40.00 | $121,250 | $0 | $29,974 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,403,715 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $245,530 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 9 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SYNERGENT | |||||
| PO BOX 1236 | PORTLAND | ME | 04104 | CORE DATA PROVIDER | $920,845 |
| DIGITAL INSIGHT CORPNCR | |||||
| PO BOX 740641 | LOS ANGELES | CA | 900740641 | HOME BANKING | $299,352 |
| CUSTOMIZED SEVICE CONCEPTS LLC | |||||
| 18 COTE AVUE SUITE 13 | COFFSTOWN | NH | 03045 | ATM SUPPLIER AND SERVICE | $150,311 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $363,621 | GovernmentGrantsAmt |
| Total Contributions | $363,621 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $12,101,174 | $12,101,174 | |
| MEMBERS SERVICE FEES | 522100 | $1,370,359 | $1,334,608 | $35,751 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,471,533 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,614,232 | TotalRevenueColumnAmt |
| Exclusion | $2,614,232 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $67,442 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $67,442 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $67,442 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $67,442 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $14,125 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $14,125 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,125 | TotalRevenueColumnAmt |
| Exclusion | $14,125 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTERCHARGE INCOME | 900099 | $806,010 | $806,010 |
| OTHER INCOME | 900099 | $248,444 | $248,444 |
| INSURANCE REIMBURSEMENT | 900099 | $49,158 | $49,158 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $12,705 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,705 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,116,317 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,647,270 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $14,619,541 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $35,751 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,628,357 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $127,110 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $747,815 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,805,333 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $615,220 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $495,066 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $385,477 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,290 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,500 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,181 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $304,207 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,239,464 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $827,576 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,388 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,637 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,174,157 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $590,863 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,282 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| OTHER EXPENSES | $671,592 |
| PROVISION FOR LOSSES | $527,772 |
| SERVICING CONTRACTS | $277,517 |
| EDUCATION & PROMOTIONS | $122,836 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,661 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,245,944 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,023,103 | BOYAmt |
| EOY | $5,099,950 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,945,692 | BOYAmt |
| EOY | $18,544,600 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $223,715,242 | BOYAmt |
| EOY | $246,697,264 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $362,947 | BOYAmt |
| EOY | $350,526 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $13,429,612 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,440,970 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,885,540 | BOYAmt |
| EOY | $7,988,642 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,150,697 | BOYAmt |
| EOY | $58,768,477 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,913,631 | BOYAmt |
| EOY | $17,787,688 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,289,590 | BOYAmt |
| EOY | $12,247,529 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $334,286,442 | BOYAmt |
| EOY | $367,484,676 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $286,834 | BOYAmt |
| EOY | $274,173 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $860,980 | BOYAmt |
| EOY | $887,538 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,248,604 | BOYAmt |
| EOY | $22,147,031 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $295,096,639 | BOYAmt |
| EOY | $314,283,699 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $307,493,057 | BOYAmt |
| EOY | $337,592,441 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,793,385 | BOYAmt |
| EOY | $29,892,235 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,793,385 | BOYAmt |
| EOY | $29,892,235 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $334,286,442 | BOYAmt |
| EOY | $367,484,676 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,401,326 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $488,989 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $208,535 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,631,641 | OtherCostOrOtherBasisAmt |
| Book Value | $1,631,641 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,303,514 | OtherCostOrOtherBasisAmt |
| Depreciation | $670,373 | DepreciationAmt |
| Book Value | $1,633,141 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,969,648 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,169,599 | DepreciationAmt |
| Book Value | $3,800,049 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,374,972 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,600,998 | DepreciationAmt |
| Book Value | $773,974 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $149,837 | OtherCostOrOtherBasisAmt |
| Book Value | $149,837 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,988,642 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARES AND DEPOSITS | $308,177,187 |
| OTHER LIABILITIES | $6,106,512 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $314,283,699 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $17,272,156 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $17,272,156 | RevenueSubtotalAmt |
| Other Revenues Not Included | $375,114 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $375,114 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $17,647,270 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $14,870,830 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$375,114 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$375,114 | ExpensesNotReportedAmt |
| Expenses Subtotal | $15,245,944 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $15,245,944 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | MORTGAGE ESCROW ACCOUNTS ARE HELD FOR THE PAYMENT OF REAL ESTATE TAXES FOR MUNICIPALITIES. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES ON INCOME UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND MASSACHUSETTS STATUTES. TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN, INCLUDING THE POSITION THAT THE CREDIT UNION QUALIFIES AS A TAX EXEMPT ENTITY, ARE REQUIRED TO BE EVALUATED TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE UPHELD UNDER REGULATORY REVIEW. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE ACCRUED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE CREDIT UNION HAS EVALUATED ITS TAX POSITIONS AS OF DECEMBER 31, 2023 AND 2022 AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE. CURRENTLY TAX YEARS FROM 2020 THROUGH PRESENT ARE OPEN AND SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | RECLASS EMPLOYEE RETENTION CREDIT AND INTEREST RECEIVED 375,114. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RECLASS EMPLOYEE RETENTION CREDIT AND INTEREST RECEIVED -375,114. |
| PARTS XI AND XII - EMPLOYEE RETENTION CREDIT: | THE EMPLOYEE RETENTION CREDIT ("ERC") PROGRAM WAS ESTABLISHED BY THE CORONAVIRUS AID RELIEF, AND ECONOMIC SECURITY (CARES) ACT, IN MARCH 2020 TO HELP BUSINESSES RETAIN EMPLOYEES. ELIGIBLE BUSINESSES COULD RECEIVE A QUARTERLY REFUNDABLE PAYROLL TAX CREDIT. ERCS ARE CLAIMED PRIMARILY ON FEDERAL PAYROLL TAX FORMS. DURING 2022, THE CREDIT UNION DETERMINED THAT IT QUALIFIED FOR THE EMPLOYEE RETENTION CREDIT AND HAS FILED FOR A CREDIT AGAINST PAYROLL TAXES PREVIOUSLY PAID OF APPROXIMATELY $356,000. THE CREDIT UNION IS ACCOUNTING FOR THIS ANALOGOUS TO IAS 20, ACCOUNTING FOR GOVERNMENT GRANTS AND DISCLOSURE OF GOVERNMENT ASSISTANCE. AS THERE IS REASONABLE ASSURANCE THAT THE CREDIT UNION HAS COMPLIED WITH ALL CONDITIONS ATTACHED TO THE PROGRAM, THE $356,000 CREDIT HAS BEEN RECORDED AS A CREDIT TO PAYROLL TAX EXPENSE, INCLUDED IN SALARIES AND EMPLOYEE BENEFITS EXPENSE. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST JEAN'S CREDIT UNION CHARITABLE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 HIGHLAND AVE | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01970 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 824193604 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $125,000 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Valuation Method Used | CASH | ValuationMethodUsedDesc |
| Purpose Of Grant | CHARITABLE CONTRIBUTIONS | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION'S BOARD REVIEWS ALL THE DONATIONS AND ACTIVITIES OF THE FOUNDATION ON A QUARTERLY BASIS. THE GRANT FUNDS THAT THE CREDIT UNION GIVES TO THE FOUNDATION ARE NOT RESTRICTED FOR A PRE-DETERMINED USE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| C DAVID SURFACE | ||||||||||||||
| PRESIDENT/CEO | $305,000 | $0 | $58,600 | $0 | $53,825 | $0 | $26,650 | $0 | $22,173 | $0 | $466,248 | $0 | $0 | $0 |
| KATHLEEN DONAHUE | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $155,792 | $0 | $9,250 | $0 | $10,098 | $0 | $14,011 | $0 | $19,905 | $0 | $209,056 | $0 | $0 | $0 |
| STEPHEN PEDRO | ||||||||||||||
| CFO | $148,708 | $0 | $5,750 | $0 | $792 | $0 | $12,420 | $0 | $22,411 | $0 | $190,081 | $0 | $0 | $0 |
| CHRISTOPHER NARDONE | ||||||||||||||
| VP OF REAL ESTATE LENDING | $125,500 | $0 | $5,750 | $0 | $0 | $0 | $10,500 | $0 | $20,294 | $0 | $162,044 | $0 | $0 | $0 |
| JAMES METCALF | ||||||||||||||
| VP CONSUMER LENDING | $136,250 | $0 | $6,250 | $0 | $0 | $0 | $11,300 | $0 | $6,796 | $0 | $160,596 | $0 | $0 | $0 |
| NICOLE COKOROGIANIS | ||||||||||||||
| VP IT | $127,375 | $0 | $6,250 | $0 | $625 | $0 | $10,740 | $0 | $13,124 | $0 | $158,114 | $0 | $0 | $0 |
| KATHRYN MACDONALD | ||||||||||||||
| VP OF COMPLIANCE | $120,510 | $0 | $5,750 | $0 | $390 | $0 | $10,132 | $0 | $15,100 | $0 | $151,882 | $0 | $0 | $0 |
| ALINE PAVAO | ||||||||||||||
| DIR OF HUMAN RESOURCES | $114,417 | $0 | $6,250 | $0 | $583 | $0 | $9,700 | $0 | $20,274 | $0 | $151,224 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION HAS ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER SECTION 457(B) OF THE INTERNAL REVENUE CODE FOR CERTAIN KEY EXECUTIVES. UNDER THE TERMS OF THIS PLAN CERTAIN KEY EXECUTIVES OF THE CREDIT UNION DEFER PORTIONS OF THEIR WAGES, WHICH THE CREDIT UNION USES TO PURCHASE ANNUITIES. THE ANNUITIES PURCHASED ARE OWNED BY THE CREDIT UNION AND ARE HELD FOR THE PURPOSE OF FUNDING A CONTRACTUAL OBLIGATION, BETWEEN THE CREDIT UNION AND CERTAIN KEY EXECUTIVES, TO PROVIDE CERTAIN PENSION BENEFITS TO THE KEY EXECUTIVES. AS OF DECEMBER 31, 2023 AND 2022, THE 457(B) DEFERRED INCOME PLAN HAD CUMULATIVE BALANCES OF $811,575 AND $648,298, RESPECTIVELY. THE CREDIT UNION PROVIDES TO ELIGIBLE EMPLOYEES DEFERRED COMPENSATION BENEFITS UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. THESE BENEFITS ARE INTENDED FOR CERTAIN MEMBERS OF A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. PARTICIPANTS RECEIVE AN ANNUAL ALLOCATION FROM THE CREDIT UNION EQUAL TO 8% OF ANNUAL SALARY FOR THE YEAR OF CONTRIBUTION. ALL SUCH AMOUNTS ALLOCATED TO THE PARTICIPANT SHALL BE DEFERRED FOR PAYMENT TO THE PARTICIPANT ON OR AFTER THE PARTICIPANT'S RETIREMENT DATE. AT DECEMBER 31, 2023 AND 2022, THE 457(F) PLAN HAD CUMULATIVE BALANCES OF $546,647 AND $442,567, RESPECTIVELY. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | CLASSES OF MEMBERS OR STOCKHOLDERS PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATION'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL |
| FORM 990, PART VI, SECTION A, LINE 7A | ELECTION OF MEMBERS AND THEIR RIGHTS - EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS SUBJECT TO THE APPROVAL OF MEMBERS ANY CHANGES TO THE INCORPORATING DOCUMENTS, I.E BYLAWS ARE APPROVED BY MEMBERSHIP |
| FORM 990, PART VI, SECTION B, LINE 11B | THE 990 WILL BE REVIEWED BY CEO, CFO AND DIRECTORS. DUE TO FILING DEADLINES, THE 990 MAY BE REVIEWED BY THE BOARD OF DIRECTORS SUBSEQUENT TO FILING. THE REVIEW IS DOCUMENTED IN THE MINUTES. |
| FORM 990, PART VI, SECTION B, LINE 12C | POLICY IS REVIEWED ANNUALLY WITH THE BOARD AND EMPLOYEES. WRITTEN ACKNOWLEDGEMENTS ARE SIGNED ON AN ANNUAL BASIS. |
| FORM 990, PART VI, SECTION B, LINE 15 | FORM 990, PART VI, LINE 15A COMPENSATION PROCESS FOR TOP OFFICIAL CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS, EXECUTIVE COMITTEE. WAGE AND SALARY PLAN INTRODUCED IN 2013. JOB DESCRIPTIONS WERE UPDATED. A SALARY SURVEY WAS CONDUCTED BY AN INDEPENDENT COMPANY. ALL POSITIONS WERE EVALUATED. POSITIONS WITHIN THE CREDIT UNION HAVE BEEN ASSIGNED A RANK. SALARY RANGES WERE ESTABLISHED FOR EACH RANK. COMPENSATION IS BASED ON CURRENT AND RELATED EXPERIENCE. FORM 990, PART VI, LINE 15B CEO'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. SENIOR MANAGEMENT IS DETERMINED BY INCREASE SET FORTH FOR STAFF AND APPROVED BY THE BOARD OF DIRECTORS. SALARY SURVEYS, INDUSTRY TRENDS AND EARNINGS ARE ALL TAKEN INTO CONSIDERATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE POSTED IN THE LOBBY AT BRANCH LOCATIONS AND ARE AVAILABLE UPON REQUEST. THE INFORMATION IS UPDATED ON A MONTHLY BASIS AFTER THE BOARD MEETS. |
| FORM 990, PART XI, LINE 9: | EQUITY ACQUIRED IN MERGER 357,217. CUMULATIVE CHANGE IN ACCOUNTING PRINCIPLE -148,682. |
| FORM 990, PART XII, LINE 2C | THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST JEAN'S CREDIT UNION CHARITABLE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 HIGHLAND AVE | AddressLine1Txt |
| City | SALEM | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01970 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 824193604 | EIN |
| Primary Activities | TO PROMOTE AND CARRY OUT CHARITABLE PURPOSES | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 10 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ST JEAN'S CREDIT UNION CHARITABLE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | C | TransactionTypeTxt |
| Involved | $125,000 | InvolvedAmt |
| Method Of Amount Determination | CASH | MethodOfAmountDeterminationTxt |