LIBERTY BAY CREDIT UNION: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- LIBERTY BAY CREDIT UNION (EIN 04-1896000)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-05-13
- IRS object ID
- 201911339349306011
- Schema version
- 2018v3.1
- 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 | 2019-05-13T15:07:52-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | 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 | 2018-01-01 | 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 | VP FINANCE & RISK | PersonTitleTxt |
| Phone | 6174396500 | PhoneNum |
| Signature | 2019-05-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SEAN MCNEIL CPA | PreparerPersonNm |
| PTIN | P01731264 | PTIN |
| Phone | 6176968900 | PhoneNum |
| Preparation | 2019-05-10 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 173.14.170.162 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-05-10 | IPDt |
| IP Tm | 10:05:17 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 79F69FBBB9CDFD997BAEC65AF96CF0C028CE0325 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | 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 | $25,866,948 | 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 | 17 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 109 | TotalEmployeeCnt |
| Total Volunteers | 11 | 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 | $19,605,834 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $21,762,598 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,405,657 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,104,350 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $23,011,491 | PYTotalRevenueAmt |
| CY Total Revenue | $25,866,948 | 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 | $10,228,564 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,863,707 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $13,453,367 | PYOtherExpensesAmt |
| CY Other Expenses | $14,122,297 | CYOtherExpensesAmt |
| PY Total Expenses | $23,693,431 | PYTotalExpensesAmt |
| CY Total Expenses | $24,997,504 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$681,940 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $869,444 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $683,756,387 | TotalAssetsBOYAmt |
| Total Assets EOY | $667,405,233 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $585,997,120 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $569,290,767 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $97,759,267 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $98,114,466 | 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 |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | 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 With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| 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 | 9306 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 109 | 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 | 17 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | 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 |
| Other Website | Yes (X) | OtherWebsiteInd |
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 (26 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) | $5,625 | $0 | $82 | ||
| EUGENE LEAHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| BRIAN ADAMS | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $204 | ||
| WINIFRED BOLTER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $3,375 | $0 | $51 | ||
| EDWARD MCCOLGAN | |||||||
| 2ND VICE CHAIRMAN | 2.00 | Yes (X) | $0 | $0 | $132 | ||
| THOMAS J FLYNN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $133 | ||
| EDWARD R FOLEY | |||||||
| CHAIRMAN | 8.00 | Yes (X) | $11,250 | $0 | $133 | ||
| PATRICK J FOLEY | |||||||
| VICE CHAIRMAN | 2.00 | Yes (X) | $0 | $0 | $204 | ||
| ROBERT B FOLEY JR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $204 | ||
| DENNIS J SIRACUSA | |||||||
| SECRETARY | 4.00 | Yes (X) | $5,625 | $0 | $204 | ||
| STEPHEN J KELLEY SR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| JOHN J LEARY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $51 | ||
| WILLIAM T MURPHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $3,375 | $0 | $51 | ||
| MICHAEL F MCCARTHY | |||||||
| DIRECTOR | 2.00 | Yes (X) | $6,750 | $0 | $82 | ||
| ROBERT J MITCHELL | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| SEAN CASHMAN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $204 | ||
| PETER LINCOLN | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $82 | ||
| EDWARD LOPES | |||||||
| PRESIDENT/CEO | 40.00 | $408,348 | $0 | $39,203 | Yes (X) | ||
| JAMES QUINN | |||||||
| SVP ADMINISTRATION | 40.00 | $170,598 | $0 | $42,991 | Yes (X) | ||
| PETER DENNIS | |||||||
| SVP BUSINESS DEVELOPMENT | 40.00 | $210,032 | $0 | $47,101 | Yes (X) | ||
| JOSEPH BEAN | |||||||
| SVP FINANCE & LENDING OPER | 40.00 | $176,109 | $0 | $42,979 | Yes (X) | ||
| STEPHEN FULCHINI | |||||||
| VP OF INFO TECHNOLOGY | 40.00 | $157,402 | $0 | $41,598 | Yes (X) | ||
| BRIAN LEARY | |||||||
| DIRECTOR OF ADVANCED MEMBER SERVICES | 40.00 | $155,321 | $0 | $26,352 | Yes (X) | ||
| KATHERINE PEILA | |||||||
| SVP OF PROJECT ADMINISTRATION | 40.00 | $161,898 | $0 | $42,048 | Yes (X) | ||
| STEPHEN HILE | |||||||
| MORTGAGE LOAN OFFICER | 40.00 | $146,554 | $0 | $24,206 | Yes (X) | ||
| FREDERICK WILLIAMS | |||||||
| CAO, CONTROLLER | 40.00 | $140,688 | $0 | $39,255 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,762,950 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $347,796 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | 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 |
|---|---|---|---|---|---|
| THE LONG GROUP | |||||
| 22 GREELEY STREET | MERRIMACK | NH | 03054 | MARKETING | $754,991 |
| NCR CORPORATION | |||||
| PO BOX 740641 | LOS ANGELES | CA | 90074 | DATA PROCESSING | $445,851 |
| DARLING CONSULTING GROUP | |||||
| 260 MERRIMAC STREET 3RD FLOOR | NEWBURYPORT | MA | 01950 | ALM CONSULTING | $141,531 |
| SUPERLATIVE PRINTING INC | |||||
| 4 CABOT PLACE | STOUGHTON | MA | 02072 | PRINTING | $125,806 |
| SMITH & WILKINSON | |||||
| 71 US ROUTE 1 STE D | SCARBOROUGH | ME | 04074 | EXECUTIVE SEARCH SOLUTIONS | $104,597 |
| 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 | $19,116,396 | $19,116,396 |
| FEES ON ACCOUNTS | 522100 | $2,205,173 | $2,205,173 |
| MISCELLANEOUS INCOME | 522100 | $441,029 | $441,029 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $21,762,598 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,104,350 | TotalRevenueColumnAmt |
| Exclusion | $4,104,350 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $25,866,948 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $21,762,598 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,104,350 | 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 | $2,110,797 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,102,053 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $565,819 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,469,210 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $615,828 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $91,880 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,089 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,083,351 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $303,141 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,626,586 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,763 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,389,072 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $715,436 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EQUIPMENT MAINTENANCE | $1,259,293 |
| MISCELLANEOUS | $1,075,471 |
| PROVISION FOR LOAN LOSS | $724,000 |
| LOAN COLLECTION & OTHER | $676,660 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,077,555 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,997,504 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,763,293 | BOYAmt |
| EOY | $7,480,284 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,119,427 | BOYAmt |
| EOY | $12,873,611 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,444,173 | BOYAmt |
| EOY | $8,632,820 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $466,384,250 | BOYAmt |
| EOY | $476,735,820 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,549,108 | BOYAmt |
| EOY | $1,734,817 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $11,300,827 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,500,552 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,646,465 | BOYAmt |
| EOY | $4,800,275 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165,701,322 | BOYAmt |
| EOY | $151,994,361 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,148,349 | BOYAmt |
| EOY | $3,153,245 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $683,756,387 | BOYAmt |
| EOY | $667,405,233 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,683,271 | BOYAmt |
| EOY | $3,890,166 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $105,000,000 | BOYAmt |
| EOY | $99,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $476,313,849 | BOYAmt |
| EOY | $466,400,601 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $585,997,120 | BOYAmt |
| EOY | $569,290,767 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
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 | $97,759,267 | BOYAmt |
| EOY | $98,114,466 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,759,267 | BOYAmt |
| EOY | $98,114,466 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $683,756,387 | BOYAmt |
| EOY | $667,405,233 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $869,444 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$687,496 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $173,251 | 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 | $1,320,015 | OtherCostOrOtherBasisAmt |
| Depreciation | $117,074 | DepreciationAmt |
| Book Value | $1,202,941 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,020,455 | OtherCostOrOtherBasisAmt |
| Depreciation | $560,922 | DepreciationAmt |
| Book Value | $1,459,533 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,483,084 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,217,187 | DepreciationAmt |
| Book Value | $1,265,897 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,067,773 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,605,369 | DepreciationAmt |
| Book Value | $462,404 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,800,275 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (7 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| NCUSIF DEPOSIT | $4,368,343 | C |
| EASCORP PPIC | $265,589 | C |
| EASCORP PPIC II | $1,025,000 | C |
| FHLB BANK STOCK | $5,697,100 | C |
| FEDERAL AGENCY SECURITIES | $140,499,617 | F |
| CO-OP | $20,244 | C |
| INTEREST IN CSCU | $118,468 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $151,994,361 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER DEPOSITS | Desc |
| Amt | $466,400,601 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $466,400,601 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $25,866,948 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $25,866,948 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $25,866,948 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $24,997,504 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $24,997,504 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $24,997,504 | 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 |
| 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 (9 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EDWARD LOPES | ||||||||||||||
| PRESIDENT/CEO | $362,762 | $0 | $45,586 | $0 | $0 | $0 | $27,500 | $0 | $11,703 | $0 | $447,551 | $0 | $0 | $0 |
| JAMES QUINN | ||||||||||||||
| SVP ADMINISTRATION | $158,198 | $0 | $12,400 | $0 | $0 | $0 | $17,060 | $0 | $25,931 | $0 | $213,589 | $0 | $0 | $0 |
| PETER DENNIS | ||||||||||||||
| SVP BUSINESS DEVELOPMENT | $191,032 | $0 | $19,000 | $0 | $0 | $0 | $21,003 | $0 | $26,098 | $0 | $257,133 | $0 | $0 | $0 |
| JOSEPH BEAN | ||||||||||||||
| SVP FINANCE & LENDING OPER | $138,909 | $0 | $37,200 | $0 | $0 | $0 | $17,610 | $0 | $25,369 | $0 | $219,088 | $0 | $0 | $0 |
| STEPHEN FULCHINI | ||||||||||||||
| VP OF INFO TECHNOLOGY | $151,452 | $0 | $5,950 | $0 | $0 | $0 | $15,740 | $0 | $25,858 | $0 | $199,000 | $0 | $0 | $0 |
| BRIAN LEARY | ||||||||||||||
| DIRECTOR OF ADVANCED MEMBER SERVICES | $146,760 | $0 | $8,561 | $0 | $0 | $0 | $15,532 | $0 | $10,820 | $0 | $181,673 | $0 | $0 | $0 |
| KATHERINE PEILA | ||||||||||||||
| SVP OF PROJECT ADMINISTRATION | $150,959 | $0 | $10,939 | $0 | $0 | $0 | $16,190 | $0 | $25,858 | $0 | $203,946 | $0 | $0 | $0 |
| STEPHEN HILE | ||||||||||||||
| MORTGAGE LOAN OFFICER | $146,554 | $0 | $0 | $0 | $0 | $0 | $14,655 | $0 | $9,551 | $0 | $170,760 | $0 | $0 | $0 |
| FREDERICK WILLIAMS | ||||||||||||||
| CAO, CONTROLLER | $135,963 | $0 | $4,725 | $0 | $0 | $0 | $14,069 | $0 | $25,186 | $0 | $179,943 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | THE CHIEF EXECUTIVE OFFICER, EDWARD LOPES, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2014. THE CHIEF FINANCIAL OFFICER, JOEL KELLER, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2016. THE SENIOR VICE PRESIDENT OF LENDING AND FINANCE, JOSEPH BEAN, WAS PROVIDED WITH A SERP WHICH WAS FUNDED BY LIFE INSURANCE IN 2017. | ExplanationTxt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| ED LOPES | |||||||
| CEO | SERP | Yes (X) | $4,255,269 | $4,994,756 | 0 | Yes (1) | Yes (1) |
| JOEL KELLER | |||||||
| EVP/CFO | SERP | Yes (X) | $1,765,500 | $1,860,175 | 0 | Yes (1) | Yes (1) |
| JOSEPH BEAN | |||||||
| SVP | SERP | Yes (X) | $1,706,227 | $1,777,889 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $8,632,820 | 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 CFO 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 DISCUSS. |
| 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 173,251. |
| FORM 990, PART IV, LINE 12 AND FORM 990, PART XI, LINE 2B | AUDITED FINANCIAL STATEMENTS WERE PREPARED AS OF 09/30/18 |