LIBERTY BAY CREDIT UNION: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- LIBERTY BAY CREDIT UNION (EIN 04-1896000)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-04-29
- IRS object ID
- 202141199349301449
- 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 | 2021-04-29T16:11:59-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042513210 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GERALD T REILLY & COMPANY | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 424 ADAMS STREET | AddressLine1Txt |
| City | MILTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02186 | 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 | 041896000 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LIBERTY BAY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LIBE | BusinessNameControlTxt |
| Phone | 6174396500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 GRANITE STREET | AddressLine1Txt |
| City | BRAINTREE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02184 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GEORGE KELLY | PersonNm |
| Person Title | SVP, CHIEF STRATEGY OFFICER | PersonTitleTxt |
| Phone | 6174396500 | PhoneNum |
| Signature | 2021-04-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | GEORGE | PersonFirstNm |
| Person Last | KELLY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SEAN MCNEIL CPA | PreparerPersonNm |
| PTIN | P01731264 | PTIN |
| Phone | 6176968900 | PhoneNum |
| Preparation | 2021-04-28 | 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 | GEORGE KELLY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 GRANITE STREET | AddressLine1Txt |
| City | BRAINTREE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02184 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $48,215,135 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.LIBERTYBAYCU.ORG | WebsiteAddressTxt |
| Type Of Organization Other | Yes (X) | TypeOfOrganizationOtherInd |
| Other Organization Dsc | CREDIT UNION | OtherOrganizationDsc |
| Formation | 1917 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO OFFER FINANCIAL SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 97 | TotalEmployeeCnt |
| Total Volunteers | 10 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,578,956 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $22,410,666 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,999,716 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,339,318 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $28,578,672 | PYTotalRevenueAmt |
| CY Total Revenue | $25,749,984 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $11,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $11,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $11,920,889 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,418,178 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $15,587,144 | PYOtherExpensesAmt |
| CY Other Expenses | $12,987,544 | CYOtherExpensesAmt |
| PY Total Expenses | $27,519,533 | PYTotalExpensesAmt |
| CY Total Expenses | $24,417,222 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,059,139 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,332,762 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $669,863,600 | TotalAssetsBOYAmt |
| Total Assets EOY | $701,131,908 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $567,389,153 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $594,245,228 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $102,474,447 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $106,886,680 | NetAssetsOrFundBalancesEOYAmt |
| Mission | LIBERTY BAY CREDIT UNION EXISTS TO BE A RESPONSIBLE AND RELEVANT FINANCIAL PARTNER TO ITS MEMBERS, EMPLOYEES, AND THE COMMUNITIES THAT IT SERVES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | LIBERTY BAY CREDIT UNION EXISTS TO BE A RESPONSIBLE AND RELEVANT FINANCIAL PARTNER TO ITS MEMBERS, EMPLOYEES, AND THE COMMUNITIES THAT IT SERVES. | 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 | 0 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | Yes (1) | 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 | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 10645 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 97 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 |
| Form8899 Filedind | 0 | Form8899Filedind |
| Form1098 C Filed | 0 | Form1098CFiledInd |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | 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 |
| 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 | GEORGE KELLY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6174396500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 GRANITE STREET | AddressLine1Txt |
| City | BRAINTREE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02184 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| GERARD BURM | |||||||
| TREASURER | 4.00 | Yes (X) | $9,000 | $0 | $82 | ||
| EUGENE LEAHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| EDWARD MCCOLGAN | |||||||
| VICE CHAIRMAN | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| THOMAS J FLYNN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| EDWARD R FOLEY | |||||||
| CHAIRMAN | 8.00 | Yes (X) | $18,000 | $0 | $82 | ||
| PATRICK J FOLEY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $204 | ||
| ROBERT B FOLEY JR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $133 | ||
| DENNIS J SIRACUSA | |||||||
| FORMER SECRETARY | 4.00 | Yes (X) | $7,500 | $0 | $111 | ||
| STEPHEN J KELLEY SR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| WILLIAM T MURPHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| MICHAEL F MCCARTHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| ROBERT J MITCHELL | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| SEAN CASHMAN | |||||||
| SECRETARY | 2.00 | Yes (X) | $2,250 | $0 | $204 | ||
| PETER LINCOLN | |||||||
| 2ND VICE CHAIRMAN | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| WINIFRED BOLTER | |||||||
| FORMER DIRECTOR | 40.00 | Yes (X) | $0 | $0 | $51 | ||
| STEPHEN FULCHINI | |||||||
| SVP, INFORMATION TECHNOLOG | 40.00 | $212,868 | $0 | $33,334 | Yes (X) | ||
| KATHERINE PEILA | |||||||
| CHIEF ADMIN OFFICER | 40.00 | $246,954 | $0 | $37,351 | Yes (X) | ||
| FREDERICK WILLIAMS | |||||||
| SVP AND CFO | 40.00 | $233,942 | $0 | $46,473 | Yes (X) | ||
| M LYNDON MATTESON III | |||||||
| PRESIDENT / CEO | 40.00 | $446,758 | $0 | $38,031 | Yes (X) | ||
| JOHN PARILLO | |||||||
| SENIOR EXECUTIVE VICE PRES | 40.00 | $395,105 | $0 | $38,031 | Yes (X) | ||
| PAUL GRAVELLESE | |||||||
| SVP & SENIOR LENDING OFFIC | 40.00 | $216,732 | $0 | $31,204 | Yes (X) | ||
| GEORGE KELLY | |||||||
| SVP & CHIEF STRATEGY OFFIC | 40.00 | $232,537 | $0 | $46,927 | Yes (X) | ||
| BRIAN LEARY | |||||||
| DIRECTOR OF ADVANCED MEMBE | 40.00 | $152,657 | $0 | $26,469 | Yes (X) | ||
| STEPHEN HILE | |||||||
| MORTGAGE LOAN OFFICER | 40.00 | $299,557 | $0 | $37,325 | Yes (X) | ||
| PAOLA FERRARA | |||||||
| MORTGAGE LOAN OFFICER | 40.00 | $286,841 | $0 | $51,468 | Yes (X) | ||
| MARGUERITE MURPHY | |||||||
| VP MORTGAGE | 40.00 | $155,361 | $0 | $26,739 | Yes (X) | ||
| JAMES DOWLING | |||||||
| CONTROLLER | 40.00 | $148,006 | $0 | $37,880 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,064,068 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $452,600 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 22 | 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 INC | |||||
| PO BOX 99924 | GRAPEVINE | TX | 76099 | CORE PROVIDER | $722,599 |
| NCR CORPORATION | |||||
| PO BOX 740641 | LOS ANGELES | CA | 90074 | DATA PROCESSING | $443,355 |
| GETFUSED | |||||
| 285 SUMMER ST 100 | BOSTON | MA | 02210 | BRANDING, MARKETING, DESIGN & TECHNOLOGY | $236,129 |
| SPECTROTEL | |||||
| PO BOX 1949 | NEWARK | NJ | 07101 | TELECOMMUNICATION | $150,291 |
| LUCRO COMMERCIAL SOLUTIONS INC | |||||
| 3692 COOLIDGE CT | TALLAHASSEE | FL | 32311 | CUSO - COMMERICAL LOANS | $126,048 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN INTEREST | 522100 | $19,004,714 | $19,004,714 |
| FEES ON ACCOUNTS | 522100 | $2,346,628 | $2,346,628 |
| MISCELLANEOUS INCOME | 522100 | $1,059,324 | $1,059,324 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $22,410,666 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,905,514 | TotalRevenueColumnAmt |
| Exclusion | $2,905,514 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $22,898,955 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $22,465,151 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $433,804 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $433,804 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $433,804 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $25,749,984 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $22,844,470 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,905,514 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,516,668 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,412,459 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $520,234 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,388,517 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $580,300 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $65,139 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $79,175 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $301,266 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $204,087 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,253,614 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,259 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,551,765 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $654,290 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $1,610,000 |
| MISCELLANEOUS | $1,576,206 |
| EQUIPMENT MAINTENANCE | $1,204,380 |
| LOAN COLLECTION & OTHER | $617,338 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,816,025 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,417,222 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,560,941 | BOYAmt |
| EOY | $24,821,104 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,691,424 | BOYAmt |
| EOY | $13,476,519 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,825,619 | BOYAmt |
| EOY | $14,460,794 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $456,566,398 | BOYAmt |
| EOY | $462,634,901 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,843,069 | BOYAmt |
| EOY | $1,572,990 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $11,716,035 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,851,064 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,369,372 | BOYAmt |
| EOY | $3,864,971 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $154,742,584 | BOYAmt |
| EOY | $167,458,112 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,863,431 | BOYAmt |
| EOY | $9,460,893 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,400,762 | BOYAmt |
| EOY | $3,381,624 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $669,863,600 | BOYAmt |
| EOY | $701,131,908 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,452,966 | BOYAmt |
| EOY | $4,200,141 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,000,000 | BOYAmt |
| EOY | $60,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $481,936,187 | BOYAmt |
| EOY | $530,045,087 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $567,389,153 | BOYAmt |
| EOY | $594,245,228 | 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 | $102,474,447 | BOYAmt |
| EOY | $106,886,680 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,474,447 | BOYAmt |
| EOY | $106,886,680 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $669,863,600 | BOYAmt |
| EOY | $701,131,908 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,332,762 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,053,023 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $26,448 | 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 | $409,500 | OtherCostOrOtherBasisAmt |
| Book Value | $409,500 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,329,658 | OtherCostOrOtherBasisAmt |
| Depreciation | $260,337 | DepreciationAmt |
| Book Value | $1,069,321 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,128,541 | OtherCostOrOtherBasisAmt |
| Depreciation | $970,915 | DepreciationAmt |
| Book Value | $1,157,626 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,504,979 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,526,191 | DepreciationAmt |
| Book Value | $978,788 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,343,357 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,093,621 | DepreciationAmt |
| Book Value | $249,736 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,864,971 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER DEPOSITS | Desc |
| Amt | $530,045,087 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $530,045,087 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $25,749,984 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $25,749,984 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $25,749,984 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $24,417,222 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $24,417,222 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,417,222 | TotalExpensesPerForm990Amt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS TO ENROLLED COLLEGE FRESHMAN WHO ARE MEMBERS OF LBCU - MADE PAYABLE TO THE MEMBERS | GrantTypeTxt |
| Recipient | 11 | RecipientCnt |
| Cash Grant | $11,500 | CashGrantAmt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| 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 | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| M LYNDON MATTESON III | ||||||||||||||
| PRESIDENT / CEO | $401,129 | $0 | $45,629 | $0 | $0 | $0 | $28,500 | $0 | $9,531 | $0 | $484,789 | $0 | $0 | $0 |
| JOHN PARILLO | ||||||||||||||
| SENIOR EXECUTIVE VICE PRES | $285,105 | $0 | $110,000 | $0 | $0 | $0 | $28,500 | $0 | $9,531 | $0 | $433,136 | $0 | $0 | $0 |
| PAOLA FERRARA | ||||||||||||||
| MORTGAGE LOAN OFFICER | $286,341 | $0 | $500 | $0 | $0 | $0 | $28,500 | $0 | $22,968 | $0 | $338,309 | $0 | $0 | $0 |
| STEPHEN HILE | ||||||||||||||
| MORTGAGE LOAN OFFICER | $299,057 | $0 | $500 | $0 | $0 | $0 | $28,500 | $0 | $8,825 | $0 | $336,882 | $0 | $0 | $0 |
| KATHERINE PEILA | ||||||||||||||
| CHIEF ADMIN OFFICER | $184,054 | $0 | $62,900 | $0 | $0 | $0 | $24,695 | $0 | $12,656 | $0 | $284,305 | $0 | $0 | $0 |
| FREDERICK WILLIAMS | ||||||||||||||
| SVP AND CFO | $172,742 | $0 | $61,200 | $0 | $0 | $0 | $23,394 | $0 | $23,079 | $0 | $280,415 | $0 | $0 | $0 |
| GEORGE KELLY | ||||||||||||||
| SVP & CHIEF STRATEGY OFFIC | $171,337 | $0 | $61,200 | $0 | $0 | $0 | $23,254 | $0 | $23,673 | $0 | $279,464 | $0 | $0 | $0 |
| PAUL GRAVELLESE | ||||||||||||||
| SVP & SENIOR LENDING OFFIC | $161,292 | $0 | $55,440 | $0 | $0 | $0 | $21,673 | $0 | $9,531 | $0 | $247,936 | $0 | $0 | $0 |
| STEPHEN FULCHINI | ||||||||||||||
| SVP, INFORMATION TECHNOLOG | $160,506 | $0 | $52,362 | $0 | $0 | $0 | $21,287 | $0 | $12,047 | $0 | $246,202 | $0 | $0 | $0 |
| JAMES DOWLING | ||||||||||||||
| CONTROLLER | $128,681 | $0 | $19,325 | $0 | $0 | $0 | $14,801 | $0 | $23,079 | $0 | $185,886 | $0 | $0 | $0 |
| MARGUERITE MURPHY | ||||||||||||||
| VP MORTGAGE | $130,661 | $0 | $24,700 | $0 | $0 | $0 | $15,536 | $0 | $11,203 | $0 | $182,100 | $0 | $0 | $0 |
| BRIAN LEARY | ||||||||||||||
| DIRECTOR OF ADVANCED MEMBE | $152,157 | $0 | $500 | $0 | $0 | $0 | $15,266 | $0 | $11,203 | $0 | $179,126 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4 | FormAndLineReferenceDesc |
| Explanation | THE FORMER CHIEF EXECUTIVE OFFICER, EDWARD LOPES, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2014. THE FORMER CHIEF FINANCIAL OFFICER, JOEL KELLER, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2016. THE FORMER SENIOR VICE PRESIDENT OF LENDING AND FINANCE, JOSEPH BEAN, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2017. THE CURRENT CHEIF EXECUTIVE OFFICER, M. LYNDON MATTESON III, WAS PROVIDED A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2020. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (4 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| ED LOPES | |||||||
| FORMER PRESIDENT/CEO | SERP | Yes (X) | $4,255,269 | $5,203,670 | 0 | Yes (1) | Yes (1) |
| JOEL KELLER | |||||||
| FORMER EVP/CFO | SERP | Yes (X) | $1,765,500 | $1,942,162 | 0 | Yes (1) | Yes (1) |
| JOSEPH BEAN | |||||||
| FORMER SVP | SERP | Yes (X) | $1,706,227 | $1,876,884 | 0 | Yes (1) | Yes (1) |
| M LYNDON MATTESON III | |||||||
| CHIEF EXECUTIVE OFFICER | SERP | Yes (X) | $5,352,000 | $5,438,078 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $14,460,794 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | THERE ARE FOUR INDIVIDUALS WHOM ARE RELATED ON THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 6 | DEPOSITORS WITH A MINIMUM OF $5 BALANCE IN THEIR SAVINGS ACCOUNT ARE MEMBERS OF THE CREDIT UNION. |
| FORM 990, PART VI, SECTION A, LINE 7A | ALL MEMBERS HAVE VOTING RIGHTS WHICH ARE LIMITED TO THE ANNUAL MEETING AND ANY SPECIAL MEETINGS HELD DUE TO CHARTER CHANGES, MERGERS, ETC. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE BOARD OF DIRECTORS ARE VOTED BY THE MEMBERS AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 IS REVIEWED BY THE CS0 AND PROVIDED TO THE AUDIT COMMITTEE FOR THEIR REVIEW PRIOR TO IT BEING FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS MONITORS THIS ANNUALLY TO ENSURE COMPLIANCE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS APPROVES THE CEO COMPENSATION. MANAGEMENT APPROVES ALL OTHER EMPLOYEE COMPENSATION AND MEETS YEARLY TO REVIEW. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S CALL REPORT AND FINANCIAL INFORMATION IS AVAILABLE THROUGH THE NCUA WEBSITE AND PRIVACY POLICIES ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | FAS158 OCI ADJUSTMENT 26,448. |
| FORM 990, PART IV, LINE 12 AND FORM 990, PART XI, LINE 2B | AUDITED FINANCIAL STATEMENTS WERE PREPARED AS OF 09/30/20 |