CENTRAL CREDIT UNION OF MARYLAND: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: CENTRAL CREDIT UNION OF MARYLAND (EIN 52-0679182)
Tax period: 2011-01-01 to 2011-12-31
Filed: 2012-05-10
IRS object ID: 201241319349300219
Schema version: 2011v1.2
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
Form 990
Schedule D
Schedule J
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-05-10T07:59:40-05:00	Timestamp
Tax Period End Date	2011-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Field	Value	IRS element (for citing)
EIN	520630619	EIN

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Rowles & Company LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	101 E Chesapeake Avenue	AddressLine1
City	Baltimore	City
State	MD	State
ZIP Code	21286	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2011-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	520679182	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	Central Credit Union of Maryland Inc	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	CENT	NameControl
Phone	4108284500	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	8501 LaSalle Road	AddressLine1
City	Baltimore	City
State	MD	State
ZIP Code	21286	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	Lisa M Jester	Name
Title	President	Title
Phone	4108284500	Phone
Date Signed	2012-05-10	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Edward C Beyer	Name
PTIN	P00383756	PTIN
Phone	4105836990	Phone

Field	Value	IRS element (for citing)
Tax Year	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	Lisa M Jester	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	8501 LaSalle Road	AddressLine1
City	Baltimore	City
State	MD	State
ZIP Code	21286	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	1350737	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	www.ccumd.org	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1950	YearFormation
State Legal Domicile	MD	StateLegalDomicile
Activity Or Mission Description	State chartered credit union	ActivityOrMissionDescription
Nbr Voting Members Governing Body	5	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	5	NbrIndependentVotingMembers
Total Nbr Employees	13	TotalNbrEmployees
Total Nbr Volunteers	0	TotalNbrVolunteers
Total Gross UBI	1160	TotalGrossUBI
Net Unrelated Business Txbl Income	-3778	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	0	ContributionsGrantsPriorYear
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	1390030	ProgramServiceRevenuePriorYear
Program Service Revenue CY	1284578	ProgramServiceRevenueCY
Investment Income Prior Year	51671	InvestmentIncomePriorYear
Investment Income Current Year	66159	InvestmentIncomeCurrentYear
Other Revenue Prior Year	0	OtherRevenuePriorYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	1441701	TotalRevenuePriorYear
Total Revenue Current Year	1350737	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	0	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	490660	SalariesEtcPriorYear
Salaries Etc Current Year	521392	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	0	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	941041	OtherExpensePriorYear
Other Expenses Current Year	802648	OtherExpensesCurrentYear
Total Expenses Prior Year	1431701	TotalExpensesPriorYear
Total Expenses Current Year	1324040	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	10000	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	26697	RevenuesLessExpensesCY
Total Assets BOY	20108081	TotalAssetsBOY
Total Assets EOY	20244923	TotalAssetsEOY
Total Liabilities BOY	40842	TotalLiabilitiesBOY
Total Liabilities EOY	38162	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	20067239	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	20206761	NetAssetsOrFundBalancesEOY
Mission Description	Our mission is based on three simple concepts: service, value and loans. We want to provide our members with the best financial services, maintaining the best values while becoming our members' CENTRAL loan source.	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Description	Central Credit Union of Maryland provides financial services to its 5,219 members.	Description
Described In501 C3	0	DescribedIn501C3
Schedule B Required	0	ScheduleBRequired
Political Activities	0	PoliticalActivities
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	0	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Report Land Bldg Equip	1	ReportLandBldgEquip
Report Invest Oth Securities	0	ReportInvestOthSecurities
Report Prog Rel Invest	0	ReportProgRelInvest
Report Other Assets	0	ReportOtherAssets
Report Other Liabilities	0	ReportOtherLiabilities
Report Fin48 Footnote	0	ReportFin48Footnote
Independent Audit Financial Stmt	0	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	0	GrantsToIndividuals
Schedule J Required	1	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Loan To Officer Or DQP	1	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	0	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	0	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	0	RelatedEntity
Related Org Controlled Entity	0	RelatedOrgControlledEntity
Transaction Related Entity	0	TransactionRelatedEntity
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	1175	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	1	ComplianceWithBackupWitholding
Number Of Employees	13	NumberOfEmployees
Employment Tax Returns Filed	1	EmploymentTaxReturnsFiled
Unrelated Business Income	1	UnrelatedBusinessIncome
Form990-T Filed	1	Form990-TFiled
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Indoor Tanning Services	0	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	5	NbrVotingGoverningBodyMembers
Number Independent Voting Members	5	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	1	MembersOrStockholders
Election Of Board Members	1	ElectionOfBoardMembers
Decisions Subject To Approval	0	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	1	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	0	LocalChapters
Form990 Provided To Governing Body	0	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	0	ConflictOfInterestPolicy
Whistleblower Policy	0	WhistleblowerPolicy
Document Retention Policy	1	DocumentRetentionPolicy
Compensation Process CEO	1	CompensationProcessCEO
Compensation Process Other	1	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	Lisa M Jester	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	4108284500	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	8501 LaSalle Road	AddressLine1
City	Baltimore	City
State	MD	State
ZIP Code	21286	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (6 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
Gary Martin
Chairman	1.00	X	550	0	0
Ruth Ann White
Treasurer	1.00	X	450	0	0
Karen Gouldmann
Secretary	2.00	X	475	0	0
Ron McElroy
Vice Chairman	1.00	X	500	0	0
Steve Ports
At Large	1.00	X	550	0	0
Lisa Jester
President/CEO	40.00		140070	0	16984	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	142595	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	16984	TotalOtherCompensation
Number Individuals GT100 K	1	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	1	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources
Number Of Contractors GT100 K	0	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (5 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome	Unrelated Business RevenueUnrelatedBusinessRevenue
Interest on loans	522100	916241	916241
Share account services	525990	147108	147108
Other services	525990	115581	115581
ATM services	525990	100271	99111	1160
Credit insurance	524298	5377	5377

Field	Value	IRS element (for citing)
Total Program Service Revenue	1284578	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	66159	TotalRevenueColumn
Exclusion	$66,159	ExclusionAmount

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	1350737	TotalRevenueColumn
Related Or Exempt Function Income	1283418	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	1160	UnrelatedBusinessRevenue
Exclusion	$66,159	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	159579	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	264530	Total

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	18998	Total

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	35644	Total

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	42641	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	800	Total

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	9415	Total

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	23587	Total

Advertising Advertising

Field	Value	IRS element (for citing)
Total	27016	Total

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	155480	Total

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	99982	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	106724	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	21811	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	122908	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	21524	Total

Insurance Insurance

Field	Value	IRS element (for citing)
Total	22288	Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal
Loan Loss Provision	70000
Member Share Insurance	44644
Loan Servicing	44447
Miscellaneous	32022

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	1324040	Total

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	528096	BOY
EOY	296645	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	3841957	BOY
EOY	2887284	EOY

Receivables From Officers Etc ReceivablesFromOfficersEtc

Field	Value	IRS element (for citing)
BOY	1958	BOY
EOY	21042	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	12375221	BOY
EOY	11279427	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	17289	BOY
EOY	5711	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	972277	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	925095	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	35988	BOY
EOY	47182	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	3098000	BOY
EOY	5482000	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	209572	BOY
EOY	225632	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	20108081	BOY
EOY	20244923	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	40842	BOY
EOY	38162	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	40842	BOY
EOY	38162	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	17190020	BOY
EOY	17302845	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	0	BOY
EOY	0	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	2877219	BOY
EOY	2903916	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	20067239	BOY
EOY	20206761	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	20108081	BOY
EOY	20244923	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	26697	ReconcilationRevenueExpenses
Reconcilation Other Changes	112825	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	0	FSAudited
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	300138	OtherCostOrOtherBasis
Depreciation	291119	Depreciation
Book Value	9019	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	672139	OtherCostOrOtherBasis
Depreciation	633976	Depreciation
Book Value	38163	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	47182	TotalOfBookValueLandBuildings

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	0	SeverancePayment
Supplemental Nonqual Retire Plan	0	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	0	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII

Field	Value	IRS element (for citing)
Name Person	Lisa Jester	NamePerson
Base Compensation Filing Org	111755	BaseCompensationFilingOrg
Comp Based On Related Orgs	0	CompBasedOnRelatedOrgs
Bonus Filing Org	15815	BonusFilingOrg
Bonus Related Orgs	0	BonusRelatedOrgs
Other Compensation Filing Org	12500	OtherCompensationFilingOrg
Other Compensation Related Orgs	0	OtherCompensationRelatedOrgs
Deferred Comp Filing Org	9298	DeferredCompFilingOrg
Deferred Comp Related Orgs	0	DeferredCompRelatedOrgs
Nontaxable Benefits Filing Org	7686	NontaxableBenefitsFilingOrg
Nontaxable Benefits Related Orgs	0	NontaxableBenefitsRelatedOrgs
Total Compensation Filing Org	157054	TotalCompensationFilingOrg
Total Compensation Related Orgs	0	TotalCompensationRelatedOrgs
Comp Report Prior990 Filing Org	0	CompReportPrior990FilingOrg
Comp Report Prior990 Related Orgs	0	CompReportPrior990RelatedOrgs

Schedule L IRS990ScheduleL

Loan Table LoanTable

Field	Value	IRS element (for citing)
Name Person	Steve Ports	NamePerson
Purpose Of Loan	Car	PurposeOfLoan
Loan From Organization	X	LoanFromOrganization
Original Principal	$21,372	OriginalPrincipalAmount
Balance Due	21042	BalanceDue
Default	0	Default
Approved By Board	1	ApprovedByBoard
Written Agreement	1	WrittenAgreement

Field	Value	IRS element (for citing)
Total Balance Due	21042	TotalBalanceDue

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (6 entries)

Return ReferenceReturnReference	ExplanationExplanation	IdentifierIdentifier
Form 990, Part VI, Section A, line 6	The Credit Union has 5,219 members.
Form 990, Part VI, Section A, line 7a	Credit Union members elect the board of directors.
Form 990, Part VI, Section B, line 11	The CEO reviews Form 990 for accuracy. The CEO presents Form 990 to the board at the next regularly scheduled meeting.
Form 990, Part VI, Section B, line 15	Each year the board reviews the Credit Union and the CEO's goals compared to actual performance. The Board meets privately to determine and approve the CEO's compensation. The CEO determines other officers' compensation. The CEO reviews staff performance and uses the Credit Union National Association survey as a guide to determining compensation.
Form 990, Part VI, Section C, line 19	The Credit Union makes available all required public documents. The Credit Union posts financial statements in the Credit Union office.
Form 990, Part XI, line 5:	Net Increase in Member Share Deposits 112,825. Total to Form 990, Part XI, Line 5: 112,825.	Changes in Net Assets or Fund Balances: