ALIGN CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ALIGN CREDIT UNION (EIN 04-1680140)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202433209349317788
- 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 | 2024-11-15T14:27:43-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 390758449 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WIPFLI LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 30 LONG CREEK DRIVE | AddressLine1Txt |
| City | SOUTH PORTLAND | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 041062437 | 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 | 041680140 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALIGN CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ALIG | BusinessNameControlTxt |
| Phone | 8009429575 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 87 HALE STREET | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01851 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LYDIA VAZQUEZ | PersonNm |
| Person Title | PRESIDENT AND CEO | PersonTitleTxt |
| Phone | 8009429575 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JULIA HOWLAND CPA | PreparerPersonNm |
| PTIN | P01711658 | PTIN |
| Phone | 2077745701 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | KENNETH M DEL ROSSI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 87 HALE STREET | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01851 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $46,144,750 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.ALIGNCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1922 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | BY PROVIDING EXPERT GUIDANCE AND THE RIGHT FINANCIAL TOOLS, WE BUILD MEANINGFUL CONNECTIONS WITH MEMBERS, DELIVERING A TRULY CUSTOMIZED BANKING EXPERIENCE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 169 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $60,783 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $14,524,787 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $18,578,674 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,692,843 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,385,021 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,216,312 | PYOtherRevenueAmt |
| CY Other Revenue | $2,944,576 | CYOtherRevenueAmt |
| PY Total Revenue | $24,433,942 | PYTotalRevenueAmt |
| CY Total Revenue | $27,908,271 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $99,290 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $93,584 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,665,290 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $7,030,501 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $11,723,687 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,657,697 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,535,919 | PYOtherExpensesAmt |
| CY Other Expenses | $12,610,177 | CYOtherExpensesAmt |
| PY Total Expenses | $24,024,186 | PYTotalExpensesAmt |
| CY Total Expenses | $31,391,959 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $409,756 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$3,483,688 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $703,539,071 | TotalAssetsBOYAmt |
| Total Assets EOY | $706,708,681 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $668,201,549 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $668,987,920 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $35,337,522 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $37,720,761 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | BY PROVIDING EXPERT GUIDANCE AND THE RIGHT FINANCIAL TOOLS, WE BUILD MEANINGFUL CONNECTIONS WITH MEMBERS, DELIVERING A TRULY CUSTOMIZED BANKING EXPERIENCE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | Yes (1) | SignificantChangeInd |
| Desc | DIVIDENDS AND INTEREST PAID ON MEMBERS DEPOSITS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | GRANTING CREDIT TO MEMBERS WITH VARIOUS LOAN PRODUCTS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SERVICES INCLUDING DEBIT AND CREDIT CARDS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | 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 | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 13777 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 169 | 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 |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | 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 | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | 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 |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KENNETH M DEL ROSSI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8009429575 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40 MARKET STREET | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01851 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GEORGE R GAGAN | ||||||||
| CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KAREN A MORRIS | ||||||||
| CLERK | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEVEN J BABBITT | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| FRANK H LOSPENNATO | ||||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DAVID R MORRIS | ||||||||
| VICE CHAIRPERSON | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RICHARD W PIECEWICZ | ||||||||
| 2ND VICE CHAIRPERSON (TERMED NOV) | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ALAN J SEXTON | ||||||||
| DIRECTOR (TERMED MAR) | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MARTIN E CONWAY | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOSEPH FORSTER | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KATHLEEN E MCKENNEY | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN MORRIS | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KENNETH M DEL ROSSI | ||||||||
| PRESIDENT AND CEO | 40.00 | $1,826,749 | $0 | $69,372 | Yes (X) | |||
| THOMAS HAMMOND | ||||||||
| CFO (TERMED MAR) | 40.00 | $307,230 | $0 | $61,351 | Yes (X) | |||
| LYDIA VAZQUEZ | ||||||||
| CHIEF OPERATING OFFICER | 40.00 | $276,295 | $0 | $67,782 | Yes (X) | |||
| MARK SANGUINETTI | ||||||||
| SVP CHIEF LENDING OFFICER | 40.00 | $63,984 | $0 | $873 | Yes (X) | |||
| JENNIFER HUSKA | ||||||||
| SVP CHIEF STRATEGY OFFICER | 40.00 | $169,098 | $0 | $41,485 | Yes (X) | |||
| JOANNE MCCARTHY | ||||||||
| SVP CHIEF RETAIL OFFICER & SECURITY OFFICER | 40.00 | $184,230 | $0 | $24,741 | Yes (X) | |||
| MARYANN BEDARD | ||||||||
| SVP-CONSUMER LENDING | 40.00 | $147,669 | $0 | $38,524 | Yes (X) | |||
| SANDRA LAMPLOUGH | ||||||||
| SVP-OPERATIONS | 40.00 | $136,903 | $0 | $36,140 | Yes (X) | |||
| TODD CARON | ||||||||
| CIO | 40.00 | $102,418 | $0 | $30,293 | Yes (X) | |||
| JOANNE DOULAMES | ||||||||
| SVP IT | 40.00 | $101,876 | $0 | $19,568 | Yes (X) | |||
| KATHLEEN KAY-ALLEN | ||||||||
| VP-SERVICING | 40.00 | $100,978 | $0 | $44,180 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,417,430 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $434,309 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FISERV | |||||
| 75 REMITTANCE DRIVE SUITE 6969 | CHICAGO | IL | 60675 | FI TECHNOLOGY | $1,400,648 |
| GARY ABRAMS | |||||
| 78 WESTON LANE | HOPKINTON | MA | 01748 | INTERIM CFO | $244,141 |
| SHI | |||||
| PO BOX 952121 | DALLAS | TX | 75395 | IT SERVICES | $176,834 |
| DARLING CONSULTING GROUP | |||||
| 260 MERRIMAC STREET | NEWBURYPORT | MA | 01950 | ALM CONSULTANT | $165,944 |
| COMPASS FACILITY SERVICES | |||||
| 65 JACKMAN STREET | GEORGETOWN | MA | 01833 | JANATORIAL SERVICES | $141,855 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST ON LOANS | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $17,373,759 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,373,759 | RelatedOrExemptFuncIncomeAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,204,915 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,204,915 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $18,578,674 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,441,751 | TotalRevenueColumnAmt |
| Exclusion | $6,441,751 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $18,179,749 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $18,236,479 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$56,730 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$56,730 | TotalRevenueColumnAmt |
| Exclusion | -$56,730 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| ATM & CREDIT CARD INTERCHANGE INC | 522100 | $1,950,573 | $1,889,790 | $60,783 |
| MEMBER SERVICE FEES | 522100 | $622,040 | $622,040 | |
| WEALTH MANAGEMENT SERVICES | 522100 | $371,963 | $371,963 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,944,576 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $27,908,271 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $21,462,467 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $60,783 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,385,021 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $93,584 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,030,501 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,093,192 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,036,260 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $466,779 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,369,234 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $692,232 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,901 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $901,981 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $272,170 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $306,147 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,511,110 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,932 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,574 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,998,975 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $721,892 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,407 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| SERVICE CONTRACTS | $2,032,907 |
| INTERCHANGE EXPENSE | $372,052 |
| PROVISION FOR LOAN LOSS | $355,515 |
| CREDIT CARD EXPENSE | $337,119 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,523,495 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,391,959 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,006,688 | BOYAmt |
| EOY | $4,093,797 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,422,260 | BOYAmt |
| EOY | $11,521,832 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $2,245,874 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $382,568,688 | BOYAmt |
| EOY | $399,248,578 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $18,629,577 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,629,665 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,357,799 | BOYAmt |
| EOY | $7,999,912 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $277,485,689 | BOYAmt |
| EOY | $265,755,613 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,896,400 | BOYAmt |
| EOY | $3,308,900 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,801,547 | BOYAmt |
| EOY | $12,534,175 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $703,539,071 | BOYAmt |
| EOY | $706,708,681 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,348,332 | BOYAmt |
| EOY | $2,661,382 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,782,413 | BOYAmt |
| EOY | $2,135,413 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $97,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $664,070,804 | BOYAmt |
| EOY | $567,191,125 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $668,201,549 | BOYAmt |
| EOY | $668,987,920 | 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 | $35,337,522 | BOYAmt |
| EOY | $37,720,761 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,337,522 | BOYAmt |
| EOY | $37,720,761 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $703,539,071 | BOYAmt |
| EOY | $706,708,681 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$3,483,688 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $6,358,339 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $727,935 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$1,219,347 | OtherChangesInNetAssetsAmt |
| 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) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
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 | $2,125,000 | OtherCostOrOtherBasisAmt |
| Book Value | $2,125,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,506,124 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,260,954 | DepreciationAmt |
| Book Value | $5,245,170 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,998,453 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,368,711 | DepreciationAmt |
| Book Value | $629,742 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,999,912 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| OTHER LIABILITIES | $6,214,465 |
| MEMBERS' SHARE & DEPOSIT ACCOUNTS | $560,976,660 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $567,191,125 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $27,908,271 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $27,908,271 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $27,908,271 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $31,391,959 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $31,391,959 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $31,391,959 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MORTGAGE LOAN ACCOUNTS. |
| PART X, LINE 2: | THE CREDIT UNION MAY RECOGNIZE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS FROM UNCERTAIN TAX POSITIONS. UNRECOGNIZED TAX BENEFITS REPRESENT THE DIFFERENCES BETWEEN A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND THE BENEFIT RECOGNIZED AND MEASURED IN THE FINANCIAL STATEMENTS. INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS INCOME TAX EXPENSE. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| MANOLIS FAMILY FOUNDATION | ||||||||
| 1067 LAKEVIEW AVENUE | DRACUT | MA | 01826 | 262711036 | 501C3 | $0 | $8,000 | LOCAL COMMUNITY EVENT |
| THE LOWELL PLAN | ||||||||
| 660 SUFFOLK ST SUITE 120 | LOWELL | MA | 01854 | 042693109 | 501C3 | $0 | $11,000 | PROGRAM SUPPORT |
| UMASS LOWELL ATHLETICS | ||||||||
| 1 UNIVERSITY AVENUE | LOWELL | MA | 01854 | 046002284 | PUBLIC UNIVERSITY | $0 | $12,500 | PROGRAM SUPPORT |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KENNETH M DEL ROSSI | ||||||||||||||
| PRESIDENT AND CEO | $483,280 | $0 | $7,500 | $0 | $1,335,969 | $0 | $31,396 | $0 | $37,976 | $0 | $1,896,121 | $0 | $0 | $0 |
| THOMAS HAMMOND | ||||||||||||||
| CFO (TERMED MAR) | $68,988 | $0 | $0 | $0 | $238,242 | $0 | $24,791 | $0 | $36,560 | $0 | $368,581 | $0 | $0 | $0 |
| LYDIA VAZQUEZ | ||||||||||||||
| CHIEF OPERATING OFFICER | $240,313 | $0 | $35,546 | $0 | $436 | $0 | $27,884 | $0 | $39,898 | $0 | $344,077 | $0 | $0 | $0 |
| JENNIFER HUSKA | ||||||||||||||
| SVP CHIEF STRATEGY OFFICER | $161,829 | $0 | $7,015 | $0 | $254 | $0 | $13,974 | $0 | $27,511 | $0 | $210,583 | $0 | $0 | $0 |
| JOANNE MCCARTHY | ||||||||||||||
| SVP CHIEF RETAIL OFFICER & SECURITY | $176,448 | $0 | $5,259 | $0 | $2,523 | $0 | $12,852 | $0 | $11,889 | $0 | $208,971 | $0 | $0 | $0 |
| MARYANN BEDARD | ||||||||||||||
| SVP-CONSUMER LENDING | $142,174 | $0 | $4,403 | $0 | $1,092 | $0 | $16,027 | $0 | $22,497 | $0 | $186,193 | $0 | $0 | $0 |
| SANDRA LAMPLOUGH | ||||||||||||||
| SVP-OPERATIONS | $129,498 | $0 | $4,240 | $0 | $3,165 | $0 | $11,086 | $0 | $25,054 | $0 | $173,043 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINES 4A-B | FormAndLineReferenceDesc |
| Explanation | KENNETH DEL ROSSI - 1,317,976.00 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 3 | INLIGN INSURANCE (WHOLLY OWNED CUSO) - DISSOLVED SEPTEMBER 2023 |
| FORM 990, PART VI, SECTION A, LINE 3 | GARY ABRAMS, INTERIM CFO. SELF-EMPLOYED, RECEIVES A 1099. PERFORMED ALL CFO DUTIES AND RESPONSIBILITIES. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE CREDIT UNION HOLDS AN ANNUAL MEETING ACCORDING TO ITS BYLAWS WHERE ALL MEMBERS ARE GIVEN PROPER NOTIFICATION. THE BYLAWS CALL FOR THE ELECTION OF DIRECTORS WHOSE TERMS HAVE EXPIRED. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE CREDIT UNION MEMBERS RATIFY DECISIONS OF THE GOVERNING BODY AT THEIR ANNUAL MEETING AND ELECT DIRECTORS AT THAT TIME. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION CONTRACTS WITH THEIR CPA FIRM TO PREPARE FORM 990. AFTER PREPARATION, A DRAFT COPY IS SENT TO THE PRESIDENT AND CEO AND THE CHIEF FINANCIAL OFFICER FOR REVIEW. ONCE APPROVED THE 990 IS FILED. A COPY OF THE 990 IS PROVIDED TO THE AUDIT COMMITTEE AND THE FULL BOARD FOR THEIR REVIEW AND RATIFICATION AT THE MEETING FOLLOWING THE FILING OF THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | WE HAVE A WRITTEN CONFLICT OF INTEREST POLICY WITHIN OUR EMPLOYEE GUIDEBOOK. ADDITIONALLY, THE BOARD SIGNS A CODE OF ETHICS AGREEMENT. THE QUESTIONS ARE CONTAINED IN THE POLICY. A COPY OF THE POLICY CAN BE PROVIDED UPON REQUEST. |
| FORM 990, PART VI, SECTION B, LINE 15 | WE USED A CONSULTANT AS WELL AS RELIED ON DIFFERENT SURVEYS AND THE EXPERTISE OF OUR HR DEPARTMENT. SALARIES ARE SET ANNUALLY BY THE SALARY/EXECUTIVE PERSONNEL COMMITTEE OF THE BOARD OF DIRECTORS. THE CURRENT PRESIDENT/CEO IS REVIEWED ANNUALLY AND EVALUATED ON GOALS SET BY THE BOD. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION MAKES THE DOCUMENT AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | ADOPTION OF ASU NO.2016-13 (ASC 326) -1,219,347. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INLIGN INSURANCE SERVICE LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 40 MARKET STREET | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01851 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 852752732 | EIN |
| Primary Activities | INSURANCE SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Total Income | $49,845 | TotalIncomeAmt |
| End Of Year Assets | $0 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALIGN CREDIT UNION | BusinessNameLine1Txt |