SIKORSKY FINANCIAL CREDIT UNION INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- SIKORSKY FINANCIAL CREDIT UNION INC (EIN 06-0634736)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-09
- IRS object ID
- 201241309349302039
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-05-09T16:19:10-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420714325 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MCGLADREY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 NICOLLET MALL SUITE 1100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55402 | 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 | 060634736 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SIKORSKY FINANCIAL CREDIT UNION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SIKO | NameControl |
| Phone | 2033772252 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1 |
| City | STRATFORD | City |
| State | CT | State |
| ZIP Code | 06614 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | OFFICER | Name |
| Title | OFFICER | Title |
| Phone | 2033772252 | Phone |
| Date Signed | 2012-05-08 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | GERALD B KISSELL | Name |
| PTIN | P00092658 | PTIN |
| Phone | 6123324300 | 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 | THOMAS J WILLIAMS | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1 |
| City | STRATFORD | City |
| State | CT | State |
| ZIP Code | 06614 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28102437 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.SIKORSKYFCU.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1948 | YearFormation |
| State Legal Domicile | CT | StateLegalDomicile |
| Activity Or Mission Description | SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 10 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 147 | TotalNbrEmployees |
| Total Nbr Volunteers | 18 | TotalNbrVolunteers |
| Total Gross UBI | 62164 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -1259 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 24152914 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 23092231 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 4234040 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4712899 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 274964 | OtherRevenuePriorYear |
| Other Revenue Current Year | 296552 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 28661918 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28101682 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 6000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 6000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 6044081 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 4851056 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 9594134 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 9121589 | 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 | 11754038 | OtherExpensePriorYear |
| Other Expenses Current Year | 10434445 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 27398253 | TotalExpensesPriorYear |
| Total Expenses Current Year | 24413090 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1263665 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3688592 | RevenuesLessExpensesCY |
| Total Assets BOY | 596569402 | TotalAssetsBOY |
| Total Assets EOY | 642764039 | TotalAssetsEOY |
| Total Liabilities BOY | 533797402 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 573246039 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 62772000 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 69518000 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | SFCU SERVES APPROXIMATELY 53,000 MEMBERS WHO LIVE, WORK, WORSHIP, OR VOLUNTEER IN FAIRFIELD, NEW HAVEN, AND HARTFORD COUNTIES IN CONNECTICUT. THE PURPOSE OF THE CREDIT UNION IS TO PROMOTE THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY TO ACCUMULATE THEIR SAVINGS AND PROVIDE THEM A SOURCE OF CREDIT. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | SFCU OFFERS SAVINGS AND LOAN PROGRAMS. THE SHARE SAVINGS INCLUDES DAILY MONEY MARKET ACCOUNTS, EARLY ADVANTAGE ACCOUNTS, COVERDALE EDUCATION SAVINGS, SHARE DRAFT ACCOUNTS, AND SHARE CERTIFICATES. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | THE LOAN PROGRAM INCLUDES MORTGAGE LOANS, NEW AND USED AUTO LOANS, MOTORCYCLE LOANS, RECREATIONAL VEHICLE LOANS, BOAT LOANS, AND CREDIT CARDS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SFCU'S SUBSIDIARY, A CREDIT UNION SERVICE ORGANIZATION ("CUSO"), IS ENGAGED PRIMARILY IN FINANCIAL AND INSURANCE SERVICES. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | 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 | 0 | 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 | 1 | 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 | 2509 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 147 | 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 | 10 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | 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 | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CT | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JIM HARPER CFO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2033857304 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1 |
| City | STRATFORD | City |
| State | CT | State |
| ZIP Code | 06614 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| THOMAS J WILLIAMS | ||||||||
| PRESIDENT/CEO | 45.00 | X | X | 271732 | 0 | 36981 | ||
| WILLIAM W BOIAN | ||||||||
| CHAIRPERSON | 2.60 | X | X | 2031 | 0 | 0 | ||
| WILLIAM F SCHLENK JR | ||||||||
| FIRST VICE-CHAIRPERSON | 1.70 | X | X | 0 | 0 | 0 | ||
| JOSEPH KUBIC | ||||||||
| SECRETARY | 1.70 | X | X | 750 | 0 | 0 | ||
| ELIZABETH H DORNEY | ||||||||
| DIRECTOR | 1.30 | X | 640 | 0 | 0 | |||
| MAUREEN FINO | ||||||||
| DIRECTOR | 1.30 | X | 1002 | 0 | 0 | |||
| GEOFFREY R HERLAD | ||||||||
| DIRECTOR | 1.30 | X | 1265 | 0 | 0 | |||
| MARK IZZO | ||||||||
| DIRECTOR | 1.30 | X | 674 | 0 | 0 | |||
| JAMES PRUSACZYK | ||||||||
| DIRECTOR | 1.30 | X | 0 | 0 | 0 | |||
| JOHN PAWLOWSKI | ||||||||
| DIRECTOR | 1.30 | X | 0 | 0 | 0 | |||
| CAROL NAVARRO | ||||||||
| DIRECTOR | 1.30 | X | 1113 | 0 | 0 | |||
| JAMES HARPER | ||||||||
| CFO AND SVP FINANCE | 40.00 | X | 152059 | 0 | 31955 | |||
| FRANCINE PLATKO | ||||||||
| SVP ADMIN/SECURITY | 40.00 | 161587 | 0 | 21935 | X | |||
| VINCENT CIAMBRIELLO JR | ||||||||
| SVP RETAIL DELIVERY/STRATEGIC PLANNING | 40.00 | 166409 | 0 | 22008 | X | |||
| JANET GYGER | ||||||||
| CHIEF INFORMATION OFFICER | 37.50 | 149155 | 0 | 32609 | X | |||
| AL J FESTINI | ||||||||
| INFORMATION SECURITY OFFICER | 37.50 | 123211 | 0 | 29231 | X | |||
| JEFFREY J LEVESQUE | ||||||||
| SR NETWORK ENGINEER | 37.50 | 119127 | 0 | 24957 | X | |||
| CARMEN C ALVARADO | ||||||||
| DIRECTOR INTERNAL AUDIT | 37.50 | 117943 | 0 | 15209 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1268698 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 214885 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ANTHEM BCBS | |||||
| PO BOX 31703 | HARTFORD | CT | 06150 | INSURANCE | 1197792 |
| FIS | |||||
| 11601 N ROOSEVELT BLVD | ST PETERSBURG | FL | 33716 | VISA PROCESSOR | 607011 |
| NCR CORPORATION | |||||
| 14181 COLLECTIONS CENTER DR | CHICAGO | IL | 60693 | ATM HARDWARE/SOFTWARE | 420358 |
| EFUNDS | |||||
| DEPT 2667 | LOS ANGELES | CA | 90084 | ATM DEBIT CARD PROCESSING | 410458 |
| FISERV SOLUTIONS INC | |||||
| 75 REMITTANCE DRIVE SUITE 6945 | CHICAGO | IL | 606756945 | SOFTWARE/MAINTENANCE | 254565 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 8 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| INTEREST ON LOANS TO M | 522100 | 18417144 | 18417144 | |
| SERVICE CHARGES | 522100 | 3236235 | 3174071 | 62164 |
| ATM CARD FEES | 522100 | 1438852 | 1438852 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 23092231 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4713654 | TotalRevenueColumn |
| Exclusion | $4,713,654 | ExclusionAmount |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 755 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -755 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -755 | TotalRevenueColumn |
| Exclusion | -$755 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| CUSO OPERATING INCOME | 522100 | 199836 | 199836 |
| OTHER MISC OPERATING I | 522100 | 81022 | 81022 |
| NON OPERATING INCOME | 522100 | 15694 | 15694 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 296552 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28101682 | TotalRevenueColumn |
| Related Or Exempt Function Income | 23326619 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 62164 | UnrelatedBusinessRevenue |
| Exclusion | $4,712,899 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1000 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5000 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4851056 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 872141 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6201023 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 488119 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1004894 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 555412 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -3660 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23032 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42814 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 124319 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 369257 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1087989 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1014995 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 111000 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 973980 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18511 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 219742 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7758 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 72043 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 413451 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 91571 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PROVISION FOR LOAN LOSS | 2280145 |
| NCUSIF INSURANCE PREMIU | 1347999 |
| OTHER EXPENSES | 984886 |
| LOAN SERVICING | 429633 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 824980 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 24413090 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10437000 | BOY |
| EOY | 42579000 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 134315 | BOY |
| EOY | 138070 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 310545000 | BOY |
| EOY | 294648000 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 382111 | BOY |
| EOY | 573869 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 10941005 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 8164225 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2714372 | BOY |
| EOY | 2776780 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 262035000 | BOY |
| EOY | 294118000 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10321604 | BOY |
| EOY | 7930320 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 596569402 | BOY |
| EOY | 642764039 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2335000 | BOY |
| EOY | 2221000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 355000 | BOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 531107402 | BOY |
| EOY | 571025039 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 533797402 | BOY |
| EOY | 573246039 | 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 | 0 | BOY |
| EOY | 0 | 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 | 62772000 | BOY |
| EOY | 69518000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62772000 | BOY |
| EOY | 69518000 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 596569402 | BOY |
| EOY | 642764039 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3688592 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 3057408 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 600000 | OtherCostOrOtherBasis |
| Book Value | 600000 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3475826 | OtherCostOrOtherBasis |
| Depreciation | 2574226 | Depreciation |
| Book Value | 901600 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1662650 | OtherCostOrOtherBasis |
| Depreciation | 1266790 | Depreciation |
| Book Value | 395860 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2145150 | OtherCostOrOtherBasis |
| Depreciation | 1565180 | Depreciation |
| Book Value | 579970 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3057379 | OtherCostOrOtherBasis |
| Depreciation | 2758029 | Depreciation |
| Book Value | 299350 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 2776780 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| AVAILABLE FOR SALE INVESTMENTS | 273675000 | F |
| OTHER INVESTMENTS - RESTRICTED STOCK | 20443000 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 294118000 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| MEMBERS' SHARES | $570,660,039 |
| ACCRUED DIVIDENDS PAYABLE | $365,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 571025039 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | Identifier |
| Return Reference | PART X: | ReturnReference |
| Explanation | THE CREDIT UNION ADOPTED RECENT GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AS OF JANUARY 1, 2009. MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Discretionary Spending Account | X | DiscretionarySpendingAccount |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| 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 (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| THOMAS J WILLIAMS | |||||||||||||
| 269522 | 0 | 0 | 0 | 2210 | 0 | 23520 | 0 | 13461 | 0 | 308713 | 0 | 0 | 0 |
| JAMES HARPER | |||||||||||||
| 152059 | 0 | 0 | 0 | 0 | 0 | 15017 | 0 | 16938 | 0 | 184014 | 0 | 0 | 0 |
| FRANCINE PLATKO | |||||||||||||
| 161587 | 0 | 0 | 0 | 0 | 0 | 15603 | 0 | 6332 | 0 | 183522 | 0 | 0 | 0 |
| VINCENT CIAMBRIELLO JR | |||||||||||||
| 166409 | 0 | 0 | 0 | 0 | 0 | 16074 | 0 | 5934 | 0 | 188417 | 0 | 0 | 0 |
| JANET GYGER | |||||||||||||
| 149155 | 0 | 0 | 0 | 0 | 0 | 15104 | 0 | 17505 | 0 | 181764 | 0 | 0 | 0 |
| AL J FESTINI | |||||||||||||
| 123211 | 0 | 0 | 0 | 0 | 0 | 12434 | 0 | 16797 | 0 | 152442 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | THE POLICY OF THE CREDIT UNION IS TO PROVIDE OPPORTUNITIES FOR THE BOARD, COMMITTEES, MANAGEMENT AND STAFF TO ATTEND MEETINGS, CONFERENCES AND OTHER EDUCATION SESSIONS THAT PROVIDE DESIRED TRAINING, DEPTH OF UNDERSTANDING IN TECHNICAL AREAS, AND IDEAS HELPFUL TO DEVELOPMENT OR OPERATION OF THE CREDIT UNION. THE CREDIT UNION WILL PAY FOR EACH BOARD AND COMMITTEE MEMBER TO BE ACCOMPANIED BY ONE GUEST TO A CREDIT UNION RELATED CONFERENCE AS APPROVED BY THE BOARD OF DIRECTORS. THE CREDIT UNION WILL ALSO PAY FOR CHAIRMEN OF COMMITTEES TO ATTEND ONE EDUCATIONAL SEMINAR IN THE COMMITTEE'S AREA OF RESPONSIBILITY. IN ACCORDANCE WITH IRS TAX LIABILITIES, IF THE SPOUSE OR GUEST ATTENDANCE AT THE MEETING IS NOT REQUIRED BECAUSE HE OR SHE WILL NOT ACTIVELY ENGAGE IN THE ADMINISTRATION OF THE MEETING AND IF THE TRAVEL EXPENSE REIMBURSEMENT FOR THE SPOUSE OR GUEST EXCEEDS $600.00 IN ANY ONE CALENDAR YEAR, THEN A 1099 IS ISSUED TO THE VOLUNTEER OF THE CREDIT UNION AS COMPENSATION FOR THE AMOUNT OF THE SPOUSE OR GUEST TRAVEL EXPENSE REIMBURSEMENT. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | 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 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 | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE DIRECTOR OF INTERNAL AUDIT, CEO, AND SFCU BOARD WILL REVIEW FORM 990 PRIOR TO ITS FILING. | |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES ARE REQUIRED TO ATTEND ANNUAL POLICY REVIEW TRAINING. AN EMPLOYEE'S SIGNED ACKNOWLEDGEMENT IS OBTAINED AND FILED IN EMPLOYEE'S PERSONNEL FILE. NEWLY HIRED EMPLOYEES ARE TRAINED DURING NEW HIRE ORIENTATION. THE POLICY IS INCLUDED IN THE SFCU EMPLOYEE HANDBOOK, ALSO AVAILABLE ELECTRONICALLY.THE INTERNAL AUDITOR, PRESIDENT/CEO OR DESIGNATED EXECUTIVE MANAGMENT OFFICAL, HUMAN RESOURSES MANAGER/SECURITY OFFICER ARE NOTIFIED OF ANY FRAUD DISCOVERED UNDER CODE OF PERSONAL AND PROFESSIONAL ETHICS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE SETS COMPENSATION FOR THE CEO/PRESIDENT OF SFCU. THE CEO/PRESIDENT SETS COMPENSATION FOR SFCU OFFICERS AND KEY EMPLOYEES WITHIN THE CREDIT UNION APPROVED BUDGET. HUMAN RESOURCES COMMITTEE ANNUAL MEETING MINUTES PREPARED BY HR MANAGER AND CEO ARE APPROVED BY THE BOARD AND MAINTAINED BY HR. A COPY IS PROVIDED TO DIRECTOR OF INTERNAL AUDIT. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CONFLICT OF INTEREST POLICIES ARE INCLUDED IN THE SFCU EMPLOYEE HANDBOOK, ALSO AVAILABLE ELECTRONICALLY.SFCU DOES NOT ALLOW EMPLOYEES TO ACCEPT GIFTS FROM MEMBERS OR OUTSIDE ASSOCIATES. THE CREDIT UNION HAS ADOPTED GUIDELINES WHICH CONFORM TO THE BANK BRIBERY ACT OF 1985. A COPY OF THE COMPLETE POLICY IS AVAILABLE IN THE HR DEPARTMENT, THE CEO/PRESIDENT'S OFFICE, OR WITH THE INTERNAL AUDITOR UPON REQUEST. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 3,057,000. ROUNDING ADJUSTMENTS 408. TOTAL TO FORM 990, PART XI, LINE 5: 3,057,408. | CHANGES IN NET ASSETS OR FUND BALANCES: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 980 FINANCIAL SERVICES CORP | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 ORONOQUE LANE | AddressLine1 |
| City | STRATFORD | City |
| State | CT | State |
| ZIP Code | 06614 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 060634736 | EIN |
| Primary Activity | INSURANCE SERVICES | PrimaryActivity |
| Legal Domicile State | CT | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 251485 | ShareOfTotalIncome |
| Share Of EOY Assets | 1268429 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |