RIVER VALLEY CREDIT UNION: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- RIVER VALLEY CREDIT UNION (EIN 03-0196668)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-05-16
- IRS object ID
- 201641379349308264
- Schema version
- 2015v2.1
- 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 | 2016-05-16T15:21:20-05:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 030210880 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AM PEISCH & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1020 MEMORIAL DRIVE | AddressLine1Txt |
| City | ST JOHNSBURY | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05819 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 030196668 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RIVER VALLEY CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | RIVE | BusinessNameControlTxt |
| Phone | 8022544800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8366 | AddressLine1Txt |
| City | NORTH BRATTLEBORO | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05304 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEFFREY MORSE | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 8022544800 | PhoneNum |
| Signature | 2016-05-16 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RICHARD F LYON | PreparerPersonNm |
| PTIN | P00281531 | PTIN |
| Phone | 8027485654 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2016-09-27 15:27:22Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JILL FORTIER | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 8366 | AddressLine1Txt |
| City | NORTH BRATTLEBORO | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05304 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,259,334 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.RIVERCU.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1946 | FormationYr |
| Legal Domicile State | VT | LegalDomicileStateCd |
| Activity Or Mission | OPERATE A STATE CHARTERED CREDIT UNION FOR THE BENEFIT OF MEMBERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 10 | VotingMembersIndependentCnt |
| Total Employee | 60 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $65,224 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$49,871 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,717,543 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,053,635 | CYProgramServiceRevenueAmt |
| PY Investment Income | $8,793 | PYInvestmentIncomeAmt |
| CY Investment Income | $13,936 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,126,971 | PYOtherRevenueAmt |
| CY Other Revenue | $2,134,032 | CYOtherRevenueAmt |
| PY Total Revenue | $5,853,307 | PYTotalRevenueAmt |
| CY Total Revenue | $6,201,603 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $169,130 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $157,745 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,781,945 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,887,410 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,481,640 | PYOtherExpensesAmt |
| CY Other Expenses | $2,474,141 | CYOtherExpensesAmt |
| PY Total Expenses | $5,432,715 | PYTotalExpensesAmt |
| CY Total Expenses | $5,519,296 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $420,592 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $682,307 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $84,893,192 | TotalAssetsBOYAmt |
| Total Assets EOY | $90,429,024 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $78,825,217 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $83,678,742 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $6,067,975 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $6,750,282 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO OPERATE A STATE CHARTERED CREDIT UNION TO PROVIDE LOAN AND DEPOSIT SERVICES FOR THE BENEFIT OF ITS MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,519,296 | ExpenseAmt |
| Revenue | $6,136,379 | RevenueAmt |
| Desc | PROGRAM SERVICES RELATE TO DAILY OPERATIONS OF A LOCALLY CONTROLLED, FULL SERVICE CREDIT UNION. WE MAKE LOANS, ACCEPT DEPOSIT ACCOUNTS, AND CONTINUALLY AND EFFICIENTLY PROVIDE OTHER RELEVANT FINANCIAL SERVICES TO A MEMBER BASE OF APPROXIMATELY 16,498 INDIVIDUALS. | Desc |
| Total Program Service Expenses | $5,519,296 | TotalProgramServiceExpensesAmt |
| 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 | 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 | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | 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 | 36 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 60 | 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | 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 |
| States Where Copy Of Return Is Fld | VT | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFFREY J MORSE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8022544800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 820 PUTNEY ROAD | AddressLine1Txt |
| City | BRATTLEBORO | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 053048366 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 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 |
|---|---|---|---|---|---|---|---|
| DEBORAH CARPENTER | |||||||
| VICE CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RUSSELL FARRAR | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES BEDARD | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LARRY KRAFT | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SAMANTHA BOVAT | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RICHARD CARROLL | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL COONEY | |||||||
| CHAIRPERSON | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL ROGERS | |||||||
| TREASURE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBIN SWEETAPPLE | |||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES VALENTE | |||||||
| SUPERVISORY | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| EUGENE WHITNEY | |||||||
| SUPERVISORY | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| GEORGE ATHENS | |||||||
| SUPERVISORY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JOHN JAMISON | |||||||
| SUPERVISORY | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KAREN CEDERGREN | |||||||
| VP-BRANCH ADMINISTRATION | 50.00 | $73,038 | $0 | $2,869 | Yes (X) | ||
| STEPHEN DUCLOS | |||||||
| VP-MORTGAGE LENDING | 50.00 | $97,813 | $0 | $3,842 | Yes (X) | ||
| KIMBERLEY GOUGER | |||||||
| VP-CONSUMER LENDING | 50.00 | $39,135 | $0 | $1,499 | Yes (X) | ||
| JILL FORTIER | |||||||
| VP-CFO | 50.00 | $76,225 | $0 | $3,015 | Yes (X) | ||
| JEFFREY MORSE | |||||||
| CEO/PRESIDENT | 50.00 | $194,218 | $0 | $6,655 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $480,429 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $17,880 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| GPI CONTRUCTION INC | |||||
| 436 CANAL STREET SUITE 101 | BRATTLEBORO | VT | 05301 | BUILDING CONSTRUCTION | $381,280 |
| BLUE CROSS BLUE SHIELD | |||||
| PO BOX 1950 | BRATTLEBORO | VT | 05302 | HEALTH INSURANCE | $371,997 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INTEREST INCOME | Desc |
| Business | 522100 | BusinessCd |
| Total Revenue Column | $4,053,635 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,053,635 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,053,635 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,936 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,936 | RelatedOrExemptFuncIncomeAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $53,282 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $57,731 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$4,449 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$4,449 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$4,449 | UnrelatedBusinessRevenueAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SERVICE FEES | 522100 | $1,047,723 | $1,047,723 |
| CARD PROCESSING FEES | 522100 | $575,226 | $575,226 |
| NSF AND OVERDRAFT FEES | 522100 | $217,774 | $217,774 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $297,758 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $228,085 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $69,673 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,138,481 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,201,603 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,136,379 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $65,224 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $157,745 | TotalAmt |
| Program Services | $157,745 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $480,429 | TotalAmt |
| Program Services | $480,429 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,656,073 | TotalAmt |
| Program Services | $1,656,073 | ProgramServicesAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,261 | TotalAmt |
| Program Services | $62,261 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $500,124 | TotalAmt |
| Program Services | $500,124 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $188,523 | TotalAmt |
| Program Services | $188,523 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,963 | TotalAmt |
| Program Services | $1,963 | ProgramServicesAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,232 | TotalAmt |
| Program Services | $139,232 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $249,337 | TotalAmt |
| Program Services | $249,337 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $307,438 | TotalAmt |
| Program Services | $307,438 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,355 | TotalAmt |
| Program Services | $32,355 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,428 | TotalAmt |
| Program Services | $53,428 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,628 | TotalAmt |
| Program Services | $185,628 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,337 | TotalAmt |
| Program Services | $56,337 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| DEBIT CARD FEES | $367,974 | $367,974 |
| PROVISION FOR LOAN LOSS | $286,500 | $286,500 |
| OTHER | $162,166 | $162,166 |
| PROFESS. & OUTSIDE SERV | $137,789 | $137,789 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $493,994 | TotalAmt |
| Program Services | $493,994 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,519,296 | TotalAmt |
| Program Services | $5,519,296 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,181,474 | BOYAmt |
| EOY | $3,818,960 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,424,712 | BOYAmt |
| EOY | $2,724,395 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,169 | BOYAmt |
| EOY | $67,798 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,514,274 | BOYAmt |
| EOY | $78,645,876 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $204,460 | BOYAmt |
| EOY | $233,957 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $5,531,712 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,984,354 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,188,802 | BOYAmt |
| EOY | $3,547,358 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,325,301 | BOYAmt |
| EOY | $1,390,680 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,893,192 | BOYAmt |
| EOY | $90,429,024 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $157,828 | BOYAmt |
| EOY | $176,985 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,500,000 | BOYAmt |
| EOY | $3,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,167,389 | BOYAmt |
| EOY | $80,501,757 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $78,825,217 | BOYAmt |
| EOY | $83,678,742 | 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 | $6,067,975 | BOYAmt |
| EOY | $6,750,282 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,067,975 | BOYAmt |
| EOY | $6,750,282 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,893,192 | BOYAmt |
| EOY | $90,429,024 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $682,307 | ReconcilationRevenueExpnssAmt |
| 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 | $484,863 | OtherCostOrOtherBasisAmt |
| Book Value | $484,863 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,973,563 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,114,577 | DepreciationAmt |
| Book Value | $2,858,986 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $39,622 | OtherCostOrOtherBasisAmt |
| Depreciation | $36,612 | DepreciationAmt |
| Book Value | $3,010 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,033,664 | OtherCostOrOtherBasisAmt |
| Depreciation | $833,165 | DepreciationAmt |
| Book Value | $200,499 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,547,358 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER DEPOSITS | Desc |
| Amt | $80,501,757 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $80,501,757 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $6,259,334 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $57,731 | OtherRevenueAmt |
| Revenue Not Reported | $57,731 | RevenueNotReportedAmt |
| Revenue Subtotal | $6,201,603 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $6,201,603 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $5,577,027 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $57,731 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $57,731 | ExpensesNotReportedAmt |
| Expenses Subtotal | $5,519,296 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $5,519,296 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | GENERALLY ACCEPTED ACCOUNTING STANDARDS PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. THE CREDIT UNION IS NOT AWARE OF ANY SUCH UNCERTAIN TAX POSITIONS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 57,731. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES 57,731. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEFFREY MORSE | PersonNm |
| Title | CEO/PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $169,439 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $24,779 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $6,655 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $200,873 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (11 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| DEBORAH CARPENTER | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $91,203 | $52,257 | 0 | Yes (1) | Yes (1) |
| KIM GOUGER | |||||||
| OFFICER | MORTGAGE | Yes (X) | $123,859 | $65,036 | 0 | Yes (1) | Yes (1) |
| JEFFREY MORSE | |||||||
| PRESIDENT/CEO | MORTGAGE | Yes (X) | $100,000 | $100,467 | 0 | Yes (1) | Yes (1) |
| STEPHEN DUCLOS | |||||||
| OFFICER | MORTGAGE | Yes (X) | $250,000 | $239,564 | 0 | Yes (1) | Yes (1) |
| JAMES BEDARD | |||||||
| DIRECTOR | MORTGAGE | Yes (X) | $225,000 | $214,685 | 0 | Yes (1) | Yes (1) |
| ARTHUR SNARSKI | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $2,000 | $1,483 | 0 | Yes (1) | Yes (1) |
| LARRY KRAFT | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $14,461 | $27,821 | 0 | Yes (1) | Yes (1) |
| MICHAEL ROGERS | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $20,045 | $6,707 | 0 | Yes (1) | Yes (1) |
| JAMES VALENTE | |||||||
| SUPERVISORY COMMITTEE | PERSONAL | Yes (X) | $10,000 | $7,252 | 0 | Yes (1) | Yes (1) |
| RUSSELL FARRAR | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $10,000 | $10,000 | 0 | Yes (1) | Yes (1) |
| MICHAEL COONEY | |||||||
| DIRECTOR | PERSONAL | Yes (X) | $25,000 | $276 | 0 | Yes (1) | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $725,548 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ENTITY IS A CREDIT UNION WITH 16,498 MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF RVCU ELECT AT LEAST ONE MEMBER OF THE BOARD OF DIRECTORS |
| FORM 990, PART VI, SECTION A, LINE 7B | ENTITY WIDE DECISIONS INCLUDING ELECTION OF OFFICERS, MERGER AND ACQUISITION, AND CHANGES TO BY-LAWS OR GOVERNING DOCUMENTS WOULD REQUIRE MEMBERSHIP APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11 | FORM 990 IS REVIEWED BY THE CEO AND CFO PRIOR TO FILING. FILING IS REPORTED TO THE BOARD OF DIRECTORS AND MADE AVAILABLE FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 12C | RELATED PARTY QUESTIONNAIRES ARE COMPLETED BY DIRECTORS ANNUALLY TO DETERMINE ANY CONFLICTING INTERESTS. |
| FORM 990, PART VI, SECTION B, LINE 15 | CEO COMPENSATION IS REVIEWED AND APPROVED BY A COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS. OFFICER COMPENSATION IS INITIATED AND APPROVED BY THE CEO AND CONSIDERED BY THE BOARD IN ANNUAL BUDGET REPORTING. |
| FORM 990, PART VI, SECTION C, LINE 19 | RVCU MAKES ITS DOCUMENTS AVAILABLE TO THE PUBLIC BY REQUEST WITH THE EXCEPTION OF THE FINANCIAL STATEMENTS WHICH ARE POSTED IN EACH BRANCH LOBBY. |
| FORM 990, PART VII | DEBORAH CARPENTER - 190 CANOE BROOK ROAD, E DUMMERSTON, VT 05346. RUSSELL FARRAR - 2618 FLAMSTEAD ROAD, CHESTER, VT 05143. JAMES BEDARD - 186 MAPLE STREET, BRATTLEBORO, VT 05301. KAREN CEDERGREN - PO BOX 2532, W. BRATTLEBORO, VT 05303. STEPHEN DUCLOS - 20302 DEERBROOK WAY, WOODSTOCK, VT 05091. KIMBERLEY GOUGER - 7 MOSS HOLLOW LANE, NEWFANE, VT 05345. JILL FORTIER - 579 MT HERMAN STATION ROAD, NORTHFIELD, MA 01360. LARRY KRAFT - 12 PINEBROOK LANE F-8, N. SPRINGFIELD, VT 05150. SAMANTHA BOVAT - 270 HILL ROAD, BROOKLINE, VT 05345. RICHARD CARROLL - 93 SOUTHERN HEIGHTS DRIVE, VERNON, VT 05354. JEFFREY MORSE - PO BOX 538-6 NAMASCHAUG LANDING, SPOFFORD, NH 03462. MICHAEL COONEY - 146 NEWFANE ROAD, WARDSBORO, VT 05355. MICHAEL ROGERS - 33 NORCROSS LANDING, W CHESTERFIELD, NH 03466. ROBIN SWEETAPPLE - 84 OAK STREET, BRATTLEBORO, VT 05301. JAMES VALENTE - 92 GREEN STREET, BRATTLEBORO, VT 05301. EUGENE WHITNEY - PO BOX 57, W DUMMERSTON , VT 05357. GEORGE ATHENS - 39 OLIVE STREET, BRATTLEBORO, VT 05301. JOHN JAMISON - 31 VALLEY STREET, BRATTLEBORO, VT 05301. |
| FORM 990, PART XII, LINE 2C: | THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |