SIKORSKY FINANCIAL CREDIT UNION INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- SIKORSKY FINANCIAL CREDIT UNION INC (EIN 06-0634736)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-10-29
- IRS object ID
- 202523029349302212
- Schema version
- 2024v5.2
- 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 | 2025-10-29T13:29:11-05:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 994260840 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 060634736 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SIKORSKY FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SIKO | BusinessNameControlTxt |
| Phone | 2033772252 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1Txt |
| City | STRATFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06614 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BENJAMIN W CITRIN | PersonNm |
| Person Title | SVP FINANCE/CFO | PersonTitleTxt |
| Phone | 2033857311 | PhoneNum |
| Signature | 2025-10-28 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AUBREY CLEGG | PreparerPersonNm |
| PTIN | P01076395 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | VINCENT CIAMBRIELLO JR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1Txt |
| City | STRATFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06614 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $69,684,795 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SIKORSKYFCU.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1948 | FormationYr |
| Legal Domicile State | CT | LegalDomicileStateCd |
| Activity Or Mission | SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 157 | TotalEmployeeCnt |
| Total Volunteers | 15 | TotalVolunteersCnt |
| Total Gross UBI | $67,838 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $39,566,709 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $53,204,740 | CYProgramServiceRevenueAmt |
| PY Investment Income | $13,276,181 | PYInvestmentIncomeAmt |
| CY Investment Income | $11,435,957 | CYInvestmentIncomeAmt |
| PY Other Revenue | $5,475,864 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $58,318,754 | PYTotalRevenueAmt |
| CY Total Revenue | $64,640,697 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $52,181 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $15,279,467 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $16,368,391 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $24,873,467 | PYOtherExpensesAmt |
| CY Other Expenses | $35,531,597 | CYOtherExpensesAmt |
| PY Total Expenses | $40,152,934 | PYTotalExpensesAmt |
| CY Total Expenses | $51,952,169 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $18,165,820 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $12,688,528 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,263,652,136 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,305,923,917 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,120,787,060 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,149,247,088 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $142,865,076 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $156,676,829 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF CONNECTICUT RESIDENTS IN FAIRFIELD, NEW HAVEN, AND HARTFORD COUNTIES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SIKORSKY FINANCIAL CREDIT UNION OFFERS NUMEROUS DEPOSIT PROGRAMS TO ITS MEMBERS. SHARE SAVINGS INCLUDE REGULAR SHARES, DAILY MONEY MARKET, EARLY ADVANTAGE SAVINGS, KASASA SAVER, SHARE DRAFT ACCOUNTS, HEALTH SAVINGS ACCOUNTS, COVERDELL EDUCATION SAVINGS, CLUB ACCOUNTS AND SHARE CERTIFICATES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SIKORSKY FINANCIAL CREDIT UNION OFFERS NUMEROUS LOAN PRODUCTS TO ITS MEMBERS. THE LOAN PROGRAM INCLUDES MORTGAGES, NEW AND USED AUTO, RECREATIONAL VEHICLES, CONSUMER, AND CREDIT CARD LOANS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 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 | 49538 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 157 | 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 |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | 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 | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BENJAMIN W CITRIN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2033772252 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1Txt |
| City | STRATFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06614 | 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 | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| WILLIAM SCHLENK | ||||||||
| BOARD CHAIRPERSON | 2.50 | Yes (X) | $1,432 | $0 | $2,676 | |||
| JAMES PRUSACZYK | ||||||||
| BOARD VICE CHAIRPERSON | 2.50 | Yes (X) | $4,395 | $0 | $7,442 | |||
| JOSEPH KUBIC | ||||||||
| BOARD SECRETARY | 2.50 | Yes (X) | $1,310 | $0 | $8,135 | |||
| RICHARD KOLLET | ||||||||
| BOARD TREASURER | 2.50 | Yes (X) | $2,988 | $0 | $4,994 | |||
| MAUREEN FINO | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $0 | $0 | $5,847 | |||
| ELIZABETH DORNEY | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $0 | $0 | $6,438 | |||
| CAROL NAVARRO | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $0 | $0 | $5,091 | |||
| JOHN PAWLOWSKI | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $2,207 | $0 | $7,566 | |||
| ROBERT DAVID | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $4,546 | $0 | $5,508 | |||
| JEFFREY LACZKOSKI | ||||||||
| BOARD MEMBER | 2.50 | Yes (X) | $1,801 | $0 | $3,213 | |||
| GEOFFREY HERALD | ||||||||
| BOARD MEMBER/SUPERVISORY COMMITTEE | 2.50 | Yes (X) | $0 | $0 | $2,935 | |||
| VINCENT CIAMBRIELLO JR | ||||||||
| PRESIDENT/CEO | 40.00 | $1,149,154 | $0 | $66,918 | Yes (X) | |||
| BENJAMIN CITRIN | ||||||||
| SVP/CFO | 40.00 | $449,576 | $0 | $87,473 | Yes (X) | |||
| CHARLES HODDINOTT | ||||||||
| EVP/COO | 40.00 | $421,647 | $0 | $84,088 | Yes (X) | |||
| KENNETH FERRARI | ||||||||
| SVP/CLGO | 40.00 | $394,538 | $0 | $77,332 | Yes (X) | |||
| ALFRED POSEY | ||||||||
| SVP/CIO | 40.00 | $374,623 | $0 | $80,691 | Yes (X) | |||
| ANN MARIE GILLICK | ||||||||
| SVP/CHRO | 40.00 | $315,978 | $0 | $79,264 | Yes (X) | |||
| LEE STATER | ||||||||
| HOME LOAN SALES MANAGER | 40.00 | $235,444 | $0 | $53,059 | Yes (X) | |||
| JOSEPH NUZZO | ||||||||
| VP BUSINESS LENDING | 40.00 | $193,752 | $0 | $49,172 | Yes (X) | |||
| LUCIA PANICO | ||||||||
| VP RETAIL BANKING | 40.00 | $162,019 | $0 | $22,653 | Yes (X) | |||
| ANN MARIE MARREIROS | ||||||||
| VP DEPOSIT OPERATIONS | 40.00 | $159,038 | $0 | $9,481 | Yes (X) | |||
| JENNA BARTLEY | ||||||||
| VP DIGITAL BANKING | 40.00 | $149,093 | $0 | $42,676 | Yes (X) | |||
| TIMOTHY CAHILL | ||||||||
| HOME LOAN CONSULTANT | 40.00 | $138,673 | $0 | $49,377 | Yes (X) | |||
| NICOLE CORRIVEAU | ||||||||
| IT INFRASTRUCTURE MANAGER | 40.00 | $132,394 | $0 | $19,619 | Yes (X) | |||
| ZACHARY HASSELBARTH | ||||||||
| CONSUMER LENDING MANAGER | 40.00 | $130,858 | $0 | $4,910 | Yes (X) | |||
| ALISON IGNATOWSKI | ||||||||
| HOME LOAN CONSULTANT | 40.00 | $138,988 | $0 | $41,163 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,564,454 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $827,721 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 25 | 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 |
|---|---|---|---|---|---|
| VELERAPSCU | |||||
| 560 CARILLON PARKWAY | ST PETERSBURG | FL | 33716 | CREDIT CARD SERVICING | $2,423,861 |
| DIGITAL FIRST HOLDINGS | |||||
| PO BOX 660367 | DALLAS | TX | 75266 | ONLINE BANKING & BILLPAY | $1,085,098 |
| FISERV INC | |||||
| PO BOX 934057 | ATLANTA | GA | 31193 | COMPUTER SOFTWARE | $892,663 |
| RESPONSE | |||||
| 85 WILLOW ST | NEW HAVEN | CT | 06511 | BRAND BUILDING AND MARKETING | $695,853 |
| INSIGHT DIRECT | |||||
| PO BOX 731069 | DALLAS | TX | 75373 | COPMUTER HARDWARE | $516,213 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 26 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $43,879,898 | $43,879,898 | |
| FEES, CHARGES & OTHER | 522100 | $9,257,004 | $9,257,004 | |
| FINANCE & INSURANCE | 520000 | $67,838 | $67,838 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $53,204,740 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,382,793 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,382,793 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $5,097,262 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $5,044,098 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $53,164 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $53,164 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $53,164 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $64,640,697 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $64,572,859 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $67,838 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,181 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,544,424 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,496,693 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $456,892 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,973,061 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $897,321 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,560 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $310,653 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $409,424 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $643,548 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,274,156 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,807,014 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $373,649 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,420,272 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,979 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,242,335 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,504,085 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $178,041 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOAN SERVICING | $1,152,927 |
| PROVISION FOR LOAN LOSS | $1,101,398 |
| LOSSES | $689,655 |
| MISCELLANEOUS EXPENSES | $181,035 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $180,866 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,952,169 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,802,288 | BOYAmt |
| EOY | $4,143,199 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $116,062,083 | BOYAmt |
| EOY | $114,544,390 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,883,429 | BOYAmt |
| EOY | $1,945,544 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $586,660 | BOYAmt |
| EOY | $599,400 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $883,891,973 | BOYAmt |
| EOY | $942,456,286 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,065,636 | BOYAmt |
| EOY | $1,427,426 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $18,853,167 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,268,525 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,878,126 | BOYAmt |
| EOY | $6,584,642 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,731,794 | BOYAmt |
| EOY | $212,671,097 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,994,544 | BOYAmt |
| EOY | $4,574,868 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,755,603 | BOYAmt |
| EOY | $16,977,065 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,263,652,136 | BOYAmt |
| EOY | $1,305,923,917 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,375,262 | BOYAmt |
| EOY | $11,191,219 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,000,000 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,070,411,798 | BOYAmt |
| EOY | $1,138,055,869 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,120,787,060 | BOYAmt |
| EOY | $1,149,247,088 | 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 | $142,865,076 | BOYAmt |
| EOY | $156,676,829 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,865,076 | BOYAmt |
| EOY | $156,676,829 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,263,652,136 | BOYAmt |
| EOY | $1,305,923,917 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $12,688,528 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,123,225 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $600,000 | OtherCostOrOtherBasisAmt |
| Book Value | $600,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,064,983 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,080,315 | DepreciationAmt |
| Book Value | $984,668 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,267,884 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,532,947 | DepreciationAmt |
| Book Value | $2,734,937 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,920,300 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,655,263 | DepreciationAmt |
| Book Value | $2,265,037 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,584,642 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MEMBER SHARES | Desc |
| Amt | $1,138,055,869 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,138,055,869 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $64,640,697 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $64,640,697 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $64,640,697 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $51,952,169 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $51,952,169 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $51,952,169 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOYS & GIRLS CLUB OF LNV | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 POSITIVE PL | AddressLine1Txt |
| City | SHELTON | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06484 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 060653185 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $5,500 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | TO IMPROVE THE OVERALL HEALTH OF CLUB MEMBERS. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 5 | RecipientCnt |
| Cash Grant | $5,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | THESE ARE CHARITABLE CONTRIBUTIONS OR SPONSORSHIPS, NOT GRANTS. THEREFORE, THERE IS NO SUBSEQUENT MONITORING BY THE CREDIT UNION. |
| FORM 990, SCH I, PART III | EACH YEAR, SIKORSKY CREDIT UNION AWARDS FIVE SCHOLARSHIPS TO DESERVING HIGH SCHOOL SENIORS WHO SHOW ACADEMIC PROMISE AND DEDICATION TO FURTHERING THEIR EDUCATION. THE $1,000 SCHOLARSHIP WILL ASSIST RECIPIENTS WITH TUITION, BOOKS, OR OTHER COLLEGE-RELATED EXPENSES. APPLICANTS MUST BE A MEMBER OF SIKORSKY CREDIT UNION AND SUBMIT AN ESSAY ON THE TOPIC OF MONEY MANAGEMENT. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (14 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VINCENT CIAMBRIELLO JR | ||||||||||||||
| PRESIDENT/CEO | $599,433 | $0 | $401,333 | $0 | $148,388 | $0 | $31,920 | $0 | $34,998 | $0 | $1,216,072 | $0 | $0 | $0 |
| BENJAMIN CITRIN | ||||||||||||||
| SVP/CFO | $301,967 | $0 | $146,421 | $0 | $1,188 | $0 | $34,135 | $0 | $53,338 | $0 | $537,049 | $0 | $0 | $0 |
| CHARLES HODDINOTT | ||||||||||||||
| EVP/COO | $286,068 | $0 | $134,805 | $0 | $774 | $0 | $35,420 | $0 | $48,668 | $0 | $505,735 | $0 | $0 | $0 |
| KENNETH FERRARI | ||||||||||||||
| SVP/CLGO | $265,127 | $0 | $128,637 | $0 | $774 | $0 | $34,681 | $0 | $42,651 | $0 | $471,870 | $0 | $0 | $0 |
| ALFRED POSEY | ||||||||||||||
| SVP/CIO | $247,896 | $0 | $126,313 | $0 | $414 | $0 | $30,681 | $0 | $50,010 | $0 | $455,314 | $0 | $0 | $0 |
| ANN MARIE GILLICK | ||||||||||||||
| SVP/CHRO | $207,687 | $0 | $107,517 | $0 | $774 | $0 | $32,762 | $0 | $46,502 | $0 | $395,242 | $0 | $0 | $0 |
| LEE STATER | ||||||||||||||
| HOME LOAN SALES MANAGER | $79,510 | $0 | $152,815 | $0 | $3,119 | $0 | $8,829 | $0 | $44,230 | $0 | $288,503 | $0 | $0 | $0 |
| JOSEPH NUZZO | ||||||||||||||
| VP BUSINESS LENDING | $162,394 | $0 | $30,708 | $0 | $650 | $0 | $7,391 | $0 | $41,781 | $0 | $242,924 | $0 | $0 | $0 |
| JENNA BARTLEY | ||||||||||||||
| VP DIGITAL BANKING | $120,284 | $0 | $28,719 | $0 | $90 | $0 | $2,893 | $0 | $39,783 | $0 | $191,769 | $0 | $0 | $0 |
| TIMOTHY CAHILL | ||||||||||||||
| HOME LOAN CONSULTANT | $41,794 | $0 | $93,864 | $0 | $3,015 | $0 | $5,277 | $0 | $44,100 | $0 | $188,050 | $0 | $0 | $0 |
| LUCIA PANICO | ||||||||||||||
| VP RETAIL BANKING | $136,920 | $0 | $25,000 | $0 | $99 | $0 | $5,984 | $0 | $16,669 | $0 | $184,672 | $0 | $0 | $0 |
| ALISON IGNATOWSKI | ||||||||||||||
| HOME LOAN CONSULTANT | $41,455 | $0 | $94,501 | $0 | $3,032 | $0 | $5,306 | $0 | $35,857 | $0 | $180,151 | $0 | $0 | $0 |
| ANN MARIE MARREIROS | ||||||||||||||
| VP DEPOSIT OPERATIONS | $132,754 | $0 | $25,603 | $0 | $681 | $0 | $4,846 | $0 | $4,635 | $0 | $168,519 | $0 | $0 | $0 |
| NICOLE CORRIVEAU | ||||||||||||||
| IT INFRASTRUCTURE MANAGER | $111,111 | $0 | $21,212 | $0 | $71 | $0 | $4,916 | $0 | $14,703 | $0 | $152,013 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GARY M HULTGREN | PersonNm |
| Relationship With Org | FORMER CEO FROM MERGED CU | RelationshipWithOrgTxt |
| Loan Purpose | SPLIT DOLLAR | LoanPurposeTxt |
| Loan From Organization | Yes (X) | LoanFromOrganizationInd |
| Original Principal | $859,702 | OriginalPrincipalAmt |
| Balance Due | $599,400 | BalanceDueAmt |
| Default | 0 | DefaultInd |
| Board Or Committee Approval | Yes (1) | BoardOrCommitteeApprovalInd |
| Written Agreement | Yes (1) | WrittenAgreementInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $599,400 | TotalBalanceDueAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCH L, PART III | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION ACQUIRED A COLLATERAL ASSIGNED SPLIT DOLLAR PLAN AS A RESULT OF ITS MERGER WITH MCKESSON FEDERAL CREDIT UNION ON OCTOBER 1, 2023. THE PLAN WAS CREATED TO PROVIDE SUPPLEMENTAL RETIREMENT BENEFITS TO GARY M. HULTGREN, THE FORMER CEO OF MCKESSON FEDERAL CREDIT UNION. ALTHOUGH THE IRS REQUIRES REPORTING IN SCHEDULE L, PART II AS A LOAN TO AN INTERESTED PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANT NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD, THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. THE CREDIT UNION'S FIELD OF MEMBERSHIP INCLUDES THOSE WHO LIVE, WORK, WORSHIP, OR VOLUNTEER IN FAIRFIELD, NEW HAVEN OR HARTFORD COUNTIES IN CONNECTICUT. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE MANAGER OF INTERNAL AUDIT, CEO, SVP/CFO, AND SFCU BOARD WILL REVIEW THE FORM 990 PRIOR TO ITS FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES ARE REQUIRED ANNUALLY TO READ AND ACKNOWLEDGE POLICIES THROUGH THE ADP PORTAL. NEWLY HIRED EMPLOYEES ARE ALSO REQUIRED TO READ AND ACKNOWLEDGE POLICIES THROUGH THE ADP PORTAL. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE SETS COMPENSATION FOR THE CEO OF SFCU. THE CEO SETS COMPENSATION FOR SFCU OFFICERS AND KEY EMPLOYEES WITHIN THE CREDIT UNION. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | COMPUTER SERVICE EXPENSE 587,428. ADVANCE PLANNING EXPENSE 56,120. |
| FORM 990, PART IX, LINE 24E | TRAINING EXPENSE 180,866. |
| FORM 990, PART XII, LINE 2C | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |