JEANNE DARC CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- JEANNE DARC CREDIT UNION (EIN 04-1231965)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-11-10
- IRS object ID
- 202103149349301145
- Schema version
- 2020v4.1
- 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 | 2021-11-10T09:00:00-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | 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 | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041231965 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEANNE D'ARC CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | JEAN | BusinessNameControlTxt |
| Phone | 9784525001 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 TREMONT PLACE | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARK S COCHRAN | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 9784525001 | PhoneNum |
| Signature | 2021-11-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MARK | PersonFirstNm |
| Person Last | COCHRAN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 000003258 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | HARRY A KALAJIAN JR CPA | PreparerPersonNm |
| PTIN | P00464296 | PTIN |
| Phone | 6174399700 | PhoneNum |
| Preparation | 2021-11-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARK S COCHRAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 TREMONT PLACE | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $64,296,513 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.JDCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1912 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | JEANNE D'ARC CREDIT UNION IS A FULL SERVICE, MEMBER-OWNED COMMUNITY BASED CREDIT UNION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 311 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $216,686 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $49,210,550 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $46,594,601 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,293,710 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,228,336 | CYInvestmentIncomeAmt |
| PY Other Revenue | $12,280,380 | PYOtherRevenueAmt |
| CY Other Revenue | $11,803,953 | CYOtherRevenueAmt |
| PY Total Revenue | $65,784,640 | PYTotalRevenueAmt |
| CY Total Revenue | $62,626,890 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $288,969 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $421,820 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $17,775,904 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $18,330,036 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $39,946,361 | PYOtherExpensesAmt |
| CY Other Expenses | $37,419,402 | CYOtherExpensesAmt |
| PY Total Expenses | $58,011,234 | PYTotalExpensesAmt |
| CY Total Expenses | $56,171,258 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $7,773,406 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $6,455,632 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,454,259,791 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,653,319,791 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,327,042,893 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,518,823,549 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $127,216,898 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $134,496,242 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | JEANNE D'ARC CREDIT UNION IS THE THIRD OLDEST CREDIT UNION IN THE COUNTRY FOUNDED IN LOWELL MASSACHUSETTS IN 1912. IT CURRENTLY HAS 91,874 MEMBERS WHO HAVE $1,462 MILLION IN DEPOSIT ACCOUNTS & NET LOANS OUTSTANDING OF $1,197 MILLION AS OF DECEMBER 31, 2020. | Desc |
| 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 | 0 | 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 | Yes (1) | 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 | Yes (1) | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 127430 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 311 | 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 |
| 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 |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOSEPH PRINCI II | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9783234798 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | JEANNE DARC CU 1 TREMONT PLACE | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 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 |
|---|---|---|---|---|---|---|---|---|
| JOHN CHEMALY | ||||||||
| CHARIMAN | 1.00 | Yes (X) | $7,057 | $0 | $0 | |||
| NAOMI PRENDERGAST | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $7,057 | $0 | $0 | |||
| SOVANNA POUV | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $7,201 | $0 | $0 | |||
| SUSAN GREEN | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $7,153 | $0 | $0 | |||
| MARK DIONNE | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $144 | $0 | $0 | |||
| HENRI MARCHAND | ||||||||
| TREASURER/DIRECTOR | 1.00 | Yes (X) | $7,057 | $0 | $0 | Yes (X) | ||
| WENDY ESTRELLA | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $1,168 | $0 | $0 | |||
| WILLIAM SOUCY | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $7,057 | $0 | $0 | |||
| JOANNE YESTRAMSKI | ||||||||
| DIRECTOR | 1.00 | Yes (X) | $7,057 | $0 | $0 | |||
| ELLEN MURPHY MEEHAN | ||||||||
| VICE CHAIR | 1.00 | Yes (X) | $7,153 | $0 | $0 | |||
| MARK COCHRAN | ||||||||
| PRESIDENT/CEO/DIRECTOR | 40.00 | Yes (X) | $881,674 | $0 | $240,533 | Yes (X) | ||
| BRIAN SOUSA | ||||||||
| SENIOR VICE PRESIDENT CLO | 40.00 | $498,952 | $0 | $91,081 | Yes (X) | |||
| JOSEPH M PRINCI II | ||||||||
| SVP CFO | 40.00 | $303,216 | $0 | $82,636 | Yes (X) | |||
| CAROLYN PELLETIER | ||||||||
| SENIOR VICE PRESIDENT CIO | 40.00 | $263,868 | $0 | $45,738 | Yes (X) | |||
| MARK O'NEIL | ||||||||
| SENIOR VICE PRESIDENT CAO | 40.00 | $273,465 | $0 | $62,702 | Yes (X) | |||
| MICHAEL P DUBUQUE | ||||||||
| SVP CMEO | 40.00 | $402,242 | $0 | $90,065 | Yes (X) | |||
| GERARD L STEVENS | ||||||||
| SENIOR LOAN OFFICER | 40.00 | $497,208 | $0 | $10,261 | Yes (X) | |||
| JAMES HIRBOUR | ||||||||
| SENIOR LOAN OFFICER | 40.00 | $1,176,132 | $0 | $16,806 | Yes (X) | |||
| THOMAS KING | ||||||||
| SENIOR LOAN OFFICER | 40.00 | $277,182 | $0 | $11,550 | Yes (X) | |||
| KEITH M MICAVICH | ||||||||
| SENIOR LOAN OFFICER | 40.00 | $415,304 | $0 | $29,749 | Yes (X) | |||
| JASON E DUBOIS | ||||||||
| MORTGAGE LOAN ORIGINATOR M | 40.00 | $626,193 | $0 | $32,317 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,673,540 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $713,438 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 26 | 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 |
|---|---|---|---|---|---|
| NCUA | |||||
| PO BOX 97069 | ST LOUIS | MO | 63197 | DEPOSIT INSURANCE | $1,705,442 |
| FISERV INC | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | BANKING SOFTWARE | $1,507,434 |
| NEXT STEP | |||||
| 6000 METROWEST BLVD SUITE 107 | ORLANDO | FL | 32835 | BANKING TECHNOLOGY CONSULTING | $1,313,045 |
| ALKAMI | |||||
| PO BOX 670397 | DALLAS | TX | 75267 | SECURITY SERVICES | $1,190,991 |
| FIDELITY INFO SERVICES | |||||
| PO BOX 4535 | CAROL STREAM | IL | 60197 | BANKING SOFTWARE | $643,476 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 39 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $46,594,601 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $46,594,601 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $46,594,601 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,552,539 | TotalRevenueColumnAmt |
| Exclusion | $1,552,539 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $4,345,420 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $1,669,623 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,675,797 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,675,797 | TotalRevenueColumnAmt |
| Exclusion | $2,675,797 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| FEE INCOME | 522100 | $11,779,526 | $11,587,267 | $192,259 |
| PARTNERSHIP INVESTMENT | 523000 | $24,427 | $24,427 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $11,803,953 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $62,626,890 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $58,181,868 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $216,686 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,228,336 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $409,320 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,623,415 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,742,168 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $961,786 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,859,881 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,142,786 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,808 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $750,261 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,021,202 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $622,097 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,584,696 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,142,762 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,826,587 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $126,511 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,835,443 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,557,043 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $194,113 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DEBIT/CREDIT/ATM CHARGE | $4,109,185 |
| PROVISION FOR LOAN LOSS | $3,733,717 |
| EQUIPMENT MAINTENANCE | $1,137,846 |
| MISCELLANEOUS EXPENSES | $853,985 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $827,146 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,171,258 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,215,825 | BOYAmt |
| EOY | $6,420,686 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,090,513 | BOYAmt |
| EOY | $247,784,242 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,218,663,277 | BOYAmt |
| EOY | $1,197,187,794 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $977,192 | BOYAmt |
| EOY | $1,653,021 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $37,084,089 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,284,475 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,108,760 | BOYAmt |
| EOY | $16,799,614 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,261,467 | BOYAmt |
| EOY | $117,816,312 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,446,700 | BOYAmt |
| EOY | $17,849,200 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,496,057 | BOYAmt |
| EOY | $47,808,922 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,454,259,791 | BOYAmt |
| EOY | $1,653,319,791 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,295,937 | BOYAmt |
| EOY | $13,943,142 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,000,000 | BOYAmt |
| EOY | $40,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,220,746,956 | BOYAmt |
| EOY | $1,464,880,407 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,327,042,893 | BOYAmt |
| EOY | $1,518,823,549 | 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 | $16,000,000 | BOYAmt |
| EOY | $16,000,000 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,216,898 | BOYAmt |
| EOY | $118,496,242 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,216,898 | BOYAmt |
| EOY | $134,496,242 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,454,259,791 | BOYAmt |
| EOY | $1,653,319,791 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $6,455,632 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $823,712 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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 D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,510,661 | OtherCostOrOtherBasisAmt |
| Book Value | $4,510,661 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,552,810 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,010,225 | DepreciationAmt |
| Book Value | $6,542,585 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,540,415 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,382,561 | DepreciationAmt |
| Book Value | $2,157,854 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,503,863 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,993,457 | DepreciationAmt |
| Book Value | $1,510,406 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,976,340 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,898,232 | DepreciationAmt |
| Book Value | $2,078,108 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $16,799,614 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DEPOSITS | $1,462,610,670 |
| DAILY SETTLEMENT | $2,269,737 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,464,880,407 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $63,450,602 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $823,712 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $823,712 | RevenueNotReportedAmt |
| Revenue Subtotal | $62,626,890 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $62,626,890 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $56,171,258 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $56,171,258 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $56,171,258 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT, UNDER IRC 501(C)(14), FROM FEDERAL AND STATE INCOME TAXES. CERTAIN PRODUCTS AND SERVICES PROVIDED BY SELECT STATE CHARTERED CREDIT UNIONS HAVE BEEN DEEMED BY THE INTERNAL REVENUE SERVICE (IRS), IN TECHNICAL ADVICE MEMORANDUMS (TAMS) RELEASED IN 2007, TO BE UNRELATED TO THE SPECIFIC ENTITY'S EXEMPT PURPOSE. AS PRESENTED IN THE TECHNICAL ADVICE MEMORANDUMS, THE NET TAXABLE INCOME FROM THESE PRODUCTS AND SERVICES WOULD BE SUBJECT TO INCOME TAXES. CREDIT UNIONS HAVE LITIGATED AGAINST THE IRS POSITIONS NOTED IN THE TAMS AND HAVE BEEN SUCCESSFUL IN HAVING COURTS DECLARE IN 2009 AND 2010 THAT REVENUE FROM INSURANCE PRODUCTS SOLD TO MEMBERS, HELPING THEM PROTECT THEIR FINANCIAL WELLBEING, QUALIFIES AS EXEMPT PURPOSE INCOME, CONTRARY TO THE IRS POSITION IN THE TAMS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. AT DECEMBER 31, 2020 AND 2019 THE CREDIT UNION HAS NOT ACCRUED FOR ANY UNRELATED BUSINESS INCOME TAX. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2020 AND 2019. THE CREDIT UNION'S 2017 THROUGH 2020 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (8 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| WE SHARE A COMMON THREAD FOUNDATION INC | |||||||
| 1 TREMONT PLACE | LOWELL | MA | 01854 | 452916988 | 501(C)(3) | $323,070 | CHARITABLE CONTRIBUTIONS |
| LAWRENCE PARTNERSHIP | |||||||
| 420 COMMON STREET 3RD FLOOR | LAWRENCE | MA | 01840 | 471019447 | 501(C)(3) | $15,000 | CHARITABLE CONTRIBUTIONS |
| LOWELL PLAN | |||||||
| 660 SUFFOLK STREET | LOWELL | MA | 01852 | 042693109 | 501(C)(3) | $41,250 | CHARITABLE CONTRIBUTIONS |
| EASCORP | |||||||
| 35 CORPORATE DRIVE SUITE 300 | BURLINGTON | MA | 01803 | 042658574 | $10,000 | CHARITABLE CONTRIBUTIONS | |
| COALITION FOR A BETTER ACRE | |||||||
| 517 MOODY STREET FLOOR 3 | LOWELL | MA | 01854 | 042760272 | 501(C)(3) | $5,000 | CHARITABLE CONTRIBUTIONS |
| AMERICA'S CU MUSEUM FOUNDATION | |||||||
| 420 NOTRE DAME AVE | MANCHESTER | NH | 03102 | 020472576 | 501(C)(3) | $5,000 | CHARITABLE CONTRIBUTIONS |
| GREATER LOWELL CHAMBER OF COMMERCE | |||||||
| 133 MERRIMACK STREET | LOWELL | MA | 01852 | 043258590 | 501(C)(6) | $5,000 | CHARITABLE CONTRIBUTIONS |
| GREATER LOWELL MV CONVENTION CENTER | |||||||
| 61 MARKET STREET UNIT 1C | LOWELL | MA | 01852 | 043158302 | 501(C)(6) | $5,000 | CHARITABLE CONTRIBUTIONS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 5 | Total501c3OrgCnt |
| Total Other Org | 3 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | COLLEGE SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 21 | RecipientCnt |
| Cash Grant | $12,500 | CashGrantAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| 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 (11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAMES HIRBOUR | ||||||||||||||
| SENIOR LOAN OFFICER | $18,000 | $0 | $1,156,858 | $0 | $1,274 | $0 | $10,830 | $0 | $5,976 | $0 | $1,192,938 | $0 | $0 | $0 |
| MARK COCHRAN | ||||||||||||||
| PRESIDENT/CEO/DIRECTOR | $715,722 | $0 | $150,811 | $0 | $15,141 | $0 | $227,329 | $0 | $13,204 | $0 | $1,122,207 | $0 | $103,936 | $0 |
| JASON E DUBOIS | ||||||||||||||
| MORTGAGE LOAN ORIGINATOR M | $24,000 | $0 | $600,919 | $0 | $1,274 | $0 | $11,190 | $0 | $21,127 | $0 | $658,510 | $0 | $0 | $0 |
| BRIAN SOUSA | ||||||||||||||
| SENIOR VICE PRESIDENT CLO | $427,414 | $0 | $62,500 | $0 | $9,038 | $0 | $68,712 | $0 | $22,369 | $0 | $590,033 | $0 | $89,263 | $0 |
| GERARD L STEVENS | ||||||||||||||
| SENIOR LOAN OFFICER | $0 | $0 | $495,934 | $0 | $1,274 | $0 | $9,566 | $0 | $695 | $0 | $507,469 | $0 | $0 | $0 |
| MICHAEL P DUBUQUE | ||||||||||||||
| SVP CMEO | $328,704 | $0 | $65,000 | $0 | $8,538 | $0 | $68,938 | $0 | $21,127 | $0 | $492,307 | $0 | $0 | $0 |
| KEITH M MICAVICH | ||||||||||||||
| SENIOR LOAN OFFICER | $24,000 | $0 | $390,030 | $0 | $1,274 | $0 | $10,013 | $0 | $19,736 | $0 | $445,053 | $0 | $0 | $0 |
| JOSEPH M PRINCI II | ||||||||||||||
| SVP CFO | $250,678 | $0 | $50,000 | $0 | $2,538 | $0 | $60,267 | $0 | $22,369 | $0 | $385,852 | $0 | $0 | $0 |
| MARK O'NEIL | ||||||||||||||
| SENIOR VICE PRESIDENT CAO | $214,427 | $0 | $50,000 | $0 | $9,038 | $0 | $40,768 | $0 | $21,934 | $0 | $336,167 | $0 | $0 | $0 |
| CAROLYN PELLETIER | ||||||||||||||
| SENIOR VICE PRESIDENT CIO | $200,974 | $0 | $50,000 | $0 | $12,894 | $0 | $40,603 | $0 | $5,135 | $0 | $309,606 | $0 | $73,763 | $0 |
| THOMAS KING | ||||||||||||||
| SENIOR LOAN OFFICER | $30,000 | $0 | $245,908 | $0 | $1,274 | $0 | $11,550 | $0 | $0 | $0 | $288,732 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | TRAVEL FOR COMPANIONS SPOUSES OR GUESTS ARE WELCOME TO ACCOMPANY DIRECTORS, BUT IS LIMITED TO NO MORE THAN TWO TIMES PER CALENDAR YEAR. SPOUSE OR GUEST EXPENSES WHICH ARE REIMBURSABLE INCLUDE, BUT ARE NOT LIMITED TO AIR TRAVEL, MEALS, AND ORGANIZED ENTERTAINMENT SUCH AS EVENT DINNERS, GOLF OUTINGS OR OTHER CONFERENCE RELATED OUTINGS. SPOUSE AND GUEST TRAVEL EXPENSES MAY NOT EXCEED $2,000 PER YEAR. SPOUSE OR GUEST EXPENSES WHICH ARE NOT REIMBURSABLE INCLUDE, BUT ARE NOT LIMITED TO SEPARATE LODGING OR NON-CONFERENCE RELATED PERSONAL EXPENSES. COUNTRY CLUB MEMBERSHIPS THE CREDIT UNION PROVIDES COUNTRY CLUB MEMBERSHIPS TO SOME EXECUTIVE OFFICERS FOR BUSINESS DEVELPMENT PURPOSES. |
| PART I, LINE 4B | NONQUALIFIED RETIREMENT PLAN THE CREDIT UNION PROVIDES A NON-ELECTIVE EMPLOYER CONTRIBUTION PLAN COVERING ALL OF ITS EMPLOYEES WHO ARE ELIGIBLE AS TO AGE AND LENGTH OF SERVICE. THE PLAN PROVIDES FOR A DISCRETIONARY NON-ELECTIVE CONTRIBUTION EQUAL TO A PERCENTAGE AS ESTABLISHED BY THE BOARD OF DIRECTORS OF EACH PARTICIPANT'S TOTAL COMPENSATION, PLUS 5.7% OF ELIGIBLE COMPENSATION IN EXCESS OF THE SOCIAL SECURITY TAXABLE WAGE BASE, UP TO THE APPLICABLE IRS LIMITATIONS. THE CREDIT UNION'S CONTRIBUTIONS TO THE PLAN APPROXIMATED $605,000 AND $663,000 FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019, RESPECTIVELY. DURING THE TAX YEAR, THE CREDIT UNION MADE CONTRIBUTIONS TO THE FOLLOWING INDIVIDUALS: MARK COCHRAN $192,394 MICHAEL P. DUBUQUE $34,003 MARK O'NEIL $17,906 CAROLYN PELLITIER $20,825 JOSEPH M. PRINCI II $51,350 BRIAN SOUSA $34,639 |
| SCHEDULE J, PART II, COLUMN F: | MARK S. COCHRAN RECEIVED $103,936 SERP 457(F) DISTRIBUTION IN 2020, WHICH REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. CAROLYN A PELLETIER RECEIVED $73,763 SERP 457(F) DISTRIBUTION IN 2020, WHICH REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. BRIAN SOUSA RECEIVED $89,263 SERP 457(F) DISTRIBUTION IN 2020, WHICH REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WILLIAM SOUCY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | DIRECTOR, OWNER OF CU'S BUILDING | RelationshipDescriptionTxt |
| Transaction | $1,313,045 | TransactionAmt |
| Transaction | RENTAL | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE L PART II - OFFICER & DIRECTOR LOANS | SOME OF THE OFFICERS AND DIRECTORS HAVE LOANS OUTSTANDING WITH THE CREDIT UNION. THESE LOANS WERE OBTAINED IN THE NORMAL COURSE OF BUSINESS OF THE CREDIT UNION WITH THE SAME TERMS AND CONDITIONS AVAILABLE TO ALL MEMBERS. AS PER INSTRUCTIONS FOR SCHEDULE L, THESE LOANS ARE NOT TO BE LISTED ON SCHEDULE L. |
| SCHEDULE L PART IV - RELATED PARTY TRANSACTIONS | TREMONT YARD LLC, SINGLE MEMBER LLC OWNED BY DIRECTOR SOUCY OWNS THE BUILDING WHICH THE CREDIT UNION LEASES AND HOUSES ITS ADMINISTRATIVE AND BACK-OFFICE STAFF. DIRECTOR SOUCY EXCUSED HIMSELF FOR ALL BOARD OF DIRECTOR DISCUSSIONS REGARDING THE DECISION TO ENTER INTO THE LEASE FOR THE BUILDING. ADDITIONALLY, A THIRD-PARTY COMMERCIAL REAL ESTATE FIRM, NATIONAL COMMERCIAL BROKERS, INC. CONDUCTED A MARKET SURVEY FOR THE CREDIT UNION TO ENSURE THE CREDIT UNION WAS PAYING A FAIR MARKET LEASE RATE AND OTHER PERTINENT CONDITIONS. FINALLY, THE OFFICE OF THE COMMISSIONER OF BANKS OF MASSACHUSETTS REVIEWED THE BUSINESS TRANSACTION AND HAD NO NEGATIVE COMMENTS ON THE TRANSACTION AND APPROVED THE EXPENDITURE OF FUNDS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7A | JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | JEANNE D'ARC CREDIT UNION MEMBERSHIP IS AVAILABLE TO ANYONE WHO LIVES, WORKS, OR ATTENDS SCHOOL IN MIDDLESEX OR ESSEX COUNTIES, THE CITIES OR TOWNS OF FITCHBURG, LEOMINSTER, HARVARD, LUNENBURG OR LANCASTER, OR THE NEW HAMPSHIRE COUNTIES OF HILLSBOROUGH OR ROCKINGHAM. THE MEMBERS VOTE FOR THE BOARD OF DIRECTORS AT THE ANNUAL MEETING AND VOTE ON ANY BUSINESS BROUGHT BEFORE THEM AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | A FULL COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW BEFORE FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH YEAR THE CODE OF ETHICS, WHICH INCORPORATES THE CONFLICT OF INTEREST POLICY, IS UPDATED AND RATIFIED BY THE BOARD OF DIRECTORS. THE CODE OF ETHICS PERTAINS TO EMPLOYEES AS WELL AS THE BOARD OF DIRECTORS. ANNUALLY, ALL EMPLOYEES AND BOARD MEMBERS SIGN AN ACKNOWLEDGEMENT THAT THEY HAVE RECEIVED AND READ THE CODE OF ETHICS. FURTHER, ALL EMPLOYEES AND BOARD MEMBERS MUST IDENTIFY, IN WRITING, ALL DEPOSITS AND LOAN ACCOUNTS IN WHICH THEY HAVE A RELATED INTEREST. LOANS GRANTED TO SENIOR MANAGEMENT, DIRECTORS, OR THEIR RELATED PARTIES MUST BE APPROVED BY THE BOARD. IF THE LOAN IS FOR A BOARD MEMBER OR HIS/HER RELATED INTEREST, THE BOARD MEMBER IS RECUSED FROM THE VOTE. |
| FORM 990, PART VI, SECTION B, LINE 15 | BOARD REVIEW OF OFFICER COMPENSATION THE CREDIT UNION'S BOARD OF DIRECTORS ASSIGNS RESPONSIBILITY TO THE BOARD'S PERSONNEL COMMITTEE FOR THE PREPARATION OF A VERBAL PERFORMANCE EVALUATION OF THE CREDIT UNION'S PRESIDENT. THE PERSONNEL COMMITTEE IS COMPRISED OF INDEPENDENT DIRECTORS. THE PERSONNEL COMMITTEE WILL THEN PRESENT THE WRITTEN EVALUATION TO THE FULL BOARD, ALONG WITH A RECOMMENDATION FOR COMPENSATION. THE COMPENSATION LEVEL IS BASED ON A COMBINATION OF THE PRESIDENT'S PERCEIVED VALUE TO THE CREDIT UNION AND JOB PERFORMANCE. BASED ON THE PERSONNEL COMMITTEE'S RECOMMENDATION, THE FULL BOARD APPROVES THE PRESIDENT'S COMPENSATION. FOR MEMBERS OF SENIOR MANAGEMENT, WRITTEN PERFORMANCE EVALUATIONS ARE PREPARED BY THE PRESIDENT. THE BOARD'S CHAIRMAN APPROVES TOTAL COMPENSATION FOR ALL OFFICERS. NO OTHER BOARD DIRECTORS ARE INVOLVED IN THE COMPENSATION DISCUSSIONS FOR SENIOR MANAGEMENT. COMPENSATION IS BASED ON THE VALUE TO THE CREDIT UNION AND JOB PERFORMANCE. THE CREDIT UNION ALSO UTILIZED THE THIRD PARTY INDEPENDENT CONSULTANT TO REVIEW AND ANALYZE THE OFFICERS' COMPENSATION FOR 2020. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S BYLAWS, CODE OF ETHICS, CONFLICT OF INTEREST POLICY, ETC. ARE AVAILABLE FOR INSPECTION AT THE CREDIT UNION'S ANNUAL MEETING OR AVAILABLE AT ANYTIME UPON A MEMBER'S REQUEST. THE CREDIT UNION'S PRIVACY POLICY IS MAILED TO EACH MEMBER ANNUALLY. WHEN THERE IS A CHANGE TO OUR POLICY, A STATEMENT OF CHANGE IS MADE ANNUALLY ON ACCOUNT STATEMENTS SENT TO MEMBERS. THE CREDIT UNION'S CALL REPORT (5300) DATA IS AVAILABLE TO THE GENERAL PUBLIC VIA THE NCUA'S WEBSITE. |
| FORM 990, PART XII, LINE 2C | THE JEANNE D'ARC CREDIT UNION STATEMENTS ARE AUDITED BY CROWE HORWATH, LLP, A CERTIFIED PUBLIC ACCOUNTING FIRM. THE FINANCIAL STATEMENT YEAR END IS DECEMBER 31ST. THE JEANNE D'ARC CREDIT UNION BY-LAWS REQUIRE AN AUDIT COMMITTEE MADE UP OF BOARD MEMBERS TO REVIEW THE AUDITED FINANCIAL STATEMENTS AND ASSURE THAT ANY FINDINGS BY THE AUDITORS ARE IMPLEMENTED. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WE SHARE A COMMON THREAD FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 TREMONT PLACE | AddressLine1Txt |
| City | LOWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01854 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 452916988 | EIN |
| Primary Activities | GRANT MAKING | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEANN D'ARC CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CALLAHAN CREDIT UNION FINANCIAL SERVICES LLLP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1001 CONNECTICUT AVE NW SUITE 1001 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20036 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521536477 | EIN |
| Primary Activities | INVESMENT | PrimaryActivitiesTxt |
| Legal Domicile State | DC | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Predominant Income Type | UNRELATED | PredominantIncomeTypeTxt |
| Share Of Total Income | $24,358 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $140,359 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| UBI Code V | $23,602 | UBICodeVAmt |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Ownership | 0.02160 | OwnershipPct |
| 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 | WE SHARE A COMMON THREAD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | B | TransactionTypeTxt |
| Involved | $323,070 | InvolvedAmt |
| Method Of Amount Determination | FMV | MethodOfAmountDeterminationTxt |