ST MARY'S BANK CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- ST MARY'S BANK CREDIT UNION (EIN 02-0187390)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-08-09
- IRS object ID
- 201112219349301706
- Schema version
- 2010v3.4
- 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 | 2011-08-09T14:20:00-05:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Berry Dunn McNeil & Parker LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 Elm Street 15th Floor | AddressLine1 |
| City | Manchester | City |
| State | NH | State |
| ZIP Code | 03101 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 020187390 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | St Mary's Bank Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | STMA | NameControl |
| Phone | 6036694600 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1 |
| City | Manchester | City |
| State | NH | State |
| ZIP Code | 03105 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Robert A Desmeules | Name |
| Title | VP - CFO | Title |
| Phone | 6036694600 | Phone |
| Date Signed | 2011-08-04 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Rachel Williamson CPA | Name |
| Phone | 6036697337 | Phone |
| Date Prepared | 2011-08-04 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Ronald Covey | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1 |
| City | Manchester | City |
| State | NH | State |
| ZIP Code | 03105 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 158633000 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.stmarysbank.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1908 | YearFormation |
| State Legal Domicile | NH | StateLegalDomicile |
| Activity Or Mission Description | Provide members with savings and loan services to effectively serve our members by providing trusted ethical advice that helps members achieve their financial goals, a full array of financial services that offer real economic value, and best in the market service that results in long-term loyalty. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 11 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 11 | NbrIndependentVotingMembers |
| Total Nbr Employees | 226 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 398248 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -197286 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 32890000 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 32513161 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 6192000 | InvestmentIncomePriorYear |
| Investment Income Current Year | 5141839 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 3062000 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 42144000 | TotalRevenuePriorYear |
| Total Revenue Current Year | 37655000 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 9498477 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 7090654 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 11507669 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 12167603 | 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 | 20813854 | OtherExpensePriorYear |
| Other Expenses Current Year | 17790743 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 41820000 | TotalExpensesPriorYear |
| Total Expenses Current Year | 37049000 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 324000 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 606000 | RevenuesLessExpensesCY |
| Total Assets BOY | 698618000 | TotalAssetsBOY |
| Total Assets EOY | 703186915 | TotalAssetsEOY |
| Total Liabilities BOY | 644195000 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 650348198 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 54423000 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 52838717 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | Provide members with savings and loan services to effectively serve our members by providing trusted ethical advice that helps members achieve their financial goals, a full array of financial services that offer real economic value, and best in the market service that results in long-term loyalty. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | The credit union has 78,670 members as of December 31, 2010. Members have access to a wide variety of low-cost, high-quality services. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | St. Mary's Bank's Charitable Giving Theme is Children, Families and Individuals in Need. St. Mary's Bank proactively supports the communities it serves through a number of programs and initiatives with the commitment of monetary and non-monetary resources. St. Mary's supports many non-profit and social service agencies through donations and sponsorships. In addition, our employees collectively donate more than 3,000 hours annually by serving on Boards of non-profits and volunteering for various community related events. St. Mary's also donates Manchester Monarchs and Fisher Cats tickets as well as other items to non-profit organizations to use in their fund raising activities. In 2010, St. Mary's Bank supported over 100 organizations through donations and sponsorships for a total of about $200,000.St. Mary's also has a formal Community Outreach Program that is delivered through partnerships with non-profit and social services agencies. Programs include a number of specific programs to assist the underserved including Family Emergency Loans (FEL), Individual Development Accounts (IDAs) and Grants for non-profit, 501 (c)(3) organizations. In 2010, St. Mary's contributed $22,000 in Grants, $9,500 in FEL's and $500 in IDA's.In 2005, St. Mary's established the St. Mary's Bank Medallion scholarship which is administered by the NH Charitable Foundation. This scholarship program assists members enrolling in accredited vocational or technical programs. In 2010, five scholarships for a total of $7,300 were awarded. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | St. Mary's Bank's HLPR (Home Loan Payment Relief) mortgage program launched in the spring of 2008 assists low-to-moderate income home buyers. The program is modeled on CUNA's (Credit Union National Association's) program which includes a below market interest rate, low down payment requirement and no PMI. In 2010, St. Mary's closed over $2.5 million in HLPR loans. | 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 | 1 | 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 | 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 | 1 | GrantsToOrganizations |
| Grants To Individuals | 1 | 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 | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 20688 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 226 | 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 | 11 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 11 | 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 | 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 |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Robert Desmeules | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6036694600 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 Bedford St | AddressLine1 |
| City | Manchester | City |
| State | NH | State |
| ZIP Code | 03101 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (19 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 |
|---|---|---|---|---|---|---|---|---|
| Ronald J Rioux | ||||||||
| Director/Vice Chair | 1.00 | X | X | 3750 | 0 | 0 | ||
| Joseph G Fremeau | ||||||||
| Chairman Apr-Dec;Vice Chair Jan-Apr | 1.00 | X | X | 6550 | 0 | 0 | ||
| Daniel J Healy | ||||||||
| Director | 1.00 | X | 6350 | 0 | 0 | |||
| Ovide M Lamontagne | ||||||||
| Chairman Jan-April | 1.00 | X | X | 0 | 0 | 0 | ||
| Suzanne I Vachon | ||||||||
| Director | 1.00 | X | 6350 | 0 | 0 | |||
| Guy D Chapdelaine | ||||||||
| Director | 1.00 | X | 5420 | 0 | 0 | |||
| Gina M Balkus | ||||||||
| Director | 1.00 | X | 3750 | 0 | 0 | |||
| David H Bellman | ||||||||
| Director | 1.00 | X | 4150 | 0 | 0 | |||
| Stephen J Grzywacz | ||||||||
| Director | 1.00 | X | 2750 | 0 | 0 | |||
| Stephen Duffley | ||||||||
| Director | 1.00 | X | 2400 | 0 | 0 | |||
| Robert Duval | ||||||||
| Director | 1.00 | X | 2400 | 0 | 0 | |||
| Ronald Covey | ||||||||
| CEO | 40.00 | X | 356358 | 0 | 62458 | |||
| Daryl Cady | ||||||||
| COO | 40.00 | X | 235355 | 0 | 42664 | |||
| Donald Stevens | ||||||||
| CAO | 40.00 | 230635 | 0 | 37392 | X | |||
| Donald St Germain | ||||||||
| CIR Commercial Lending | 40.00 | 146268 | 0 | 28308 | X | |||
| Steven Macek | ||||||||
| Director of Consumer Lending | 40.00 | 123806 | 0 | 26953 | X | |||
| Judy LeClerc | ||||||||
| Residential Loan Officer | 40.00 | 118924 | 0 | 13942 | X | |||
| Christopher Freiberger | ||||||||
| Director IT | 40.00 | 113864 | 0 | 24231 | X | |||
| Elizabeth Stodolski | ||||||||
| Director of Marketing | 40.00 | 107253 | 0 | 33935 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1476333 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 269883 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| Lavallee Brensinger Architects | |||||
| 155 Dow St Suite 400 | Manchester | NH | 03101 | Architects | 299343 |
| ICLA Consulting | |||||
| 282 Water St | Newburyport | MA | 01950 | Operations Efficiency Consultant | 171000 |
| Gauthier & MacMartin | |||||
| 321 Nashua St | Milford | NH | 03055 | Attorneys | 164432 |
| NH Mailing Services | |||||
| 30 Terrill Park Dr | Concord | NH | 03301 | Mailing & Postage | 143141 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| Loan Income From Membe | 522100 | 26362468 | 26362468 | |
| Service Charges | 522100 | 4960000 | 4561752 | 398248 |
| Other Operating Income | 522100 | 1190693 | 1190693 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 32513161 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4755839 | TotalRevenueColumn |
| Exclusion | $4,755,839 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 9000 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 9000 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 121355000 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 120969000 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 386000 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 386000 | TotalRevenueColumn |
| Exclusion | $386,000 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 37655000 | TotalRevenueColumn |
| Related Or Exempt Function Income | 32114913 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 398248 | UnrelatedBusinessRevenue |
| Exclusion | $5,141,839 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7090654 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1008732 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8872631 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1023889 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 610191 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 652160 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 78997 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 424610 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 307211 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 916493 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 829872 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1408448 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 117720 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31276 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1933923 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 983665 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 149427 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| Provision for Loan Loss | 4152699 |
| NCUSIF Impairment Fee | 1462682 |
| Other Equipment | 1189077 |
| Debit Card Expense | 765135 |
| Credit Bureau/Underwrit | 333840 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2705668 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 37049000 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57210000 | BOY |
| EOY | 78047540 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2766000 | BOY |
| EOY | 2317582 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 464418000 | BOY |
| EOY | 479287654 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 616000 | BOY |
| EOY | 742587 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 17070163 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 9558846 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6169632 | BOY |
| EOY | 7511317 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 136229000 | BOY |
| EOY | 118668282 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23684000 | BOY |
| EOY | 4882050 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7525368 | BOY |
| EOY | 11729903 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 698618000 | BOY |
| EOY | 703186915 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2382421 | BOY |
| EOY | 380800 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 243579 | BOY |
| EOY | 454294 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55000000 | BOY |
| EOY | 50000000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 586569000 | BOY |
| EOY | 599513104 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 644195000 | BOY |
| EOY | 650348198 | 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 | 54423000 | BOY |
| EOY | 52838717 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 54423000 | BOY |
| EOY | 52838717 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 698618000 | BOY |
| EOY | 703186915 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 606000 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -2190283 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 1 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 612760 | OtherCostOrOtherBasis |
| Book Value | 612760 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10286370 | OtherCostOrOtherBasis |
| Depreciation | 4433996 | Depreciation |
| Book Value | 5852374 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6148580 | OtherCostOrOtherBasis |
| Depreciation | 5115495 | Depreciation |
| Book Value | 1033085 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 22453 | OtherCostOrOtherBasis |
| Depreciation | 9355 | Depreciation |
| Book Value | 13098 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 7511317 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| Members' Shares | $589,696,189 |
| Other Liabilities | $9,816,915 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 599513104 | TotalOfAmounts |
| Total Revenue | 37655000 | TotalRevenue |
| Total Expenses | 37049000 | TotalExpenses |
| Excess Or Deficit For Year | 606000 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -773283 | NetUnrealizedGLOnInvestments |
| Other | -$1,417,000 | OtherAmount |
| Total Adjustments | -2190283 | TotalAdjustments |
| Excess Or Deficit Per FS | -1584283 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 37655000 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 37655000 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 37655000 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 37049000 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 37049000 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 37049000 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| Part IV, Line 2b: | The credit union holds funds in escrow for its mortgage loans to pay taxes and insurance on behalf of the member. | |
| Part X: | Part X: The Internal Revenue Service (IRS) is currently revisiting what, if any, products and services provided by the Credit Union are subject to UBIT. There is currently very little guidance in the IRC on what activities should be subject to UBIT. The IRS has indicated that they are studying the issue and may issue additional guidance. As a result, at this time there is uncertainty regarding whether the Credit Union should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which the Credit Union was granted nontaxable status. The Credit Union has filed tax returns in the past for certain potential taxable activities. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed to be unrelated to the Credit Union's nontaxable status is not expected to have a material effect on the Credit Union's consolidated financial position or results of operations. | Description of Uncertain Tax Positions Under FIN 48: |
| Net defined benefit pension costs adjustments -1,417,000. | Part XI, Line 8 - Other Adjustments: |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 0 | RecordsMaintained |
| No Grant More Than5000 | X | NoGrantMoreThan5000 |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | St. Mary's Bank Medallion Scholarship | TypeOfGrant |
| Number Of Recipients | 5 | NumberOfRecipients |
| Amount Of Cash Grant | 7300 | AmountOfCashGrant |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 0 | SubstantiationRequired |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| 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 (5 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ronald Covey | |||||||||||||
| 277708 | 0 | 78650 | 0 | 0 | 0 | 3675 | 0 | 58783 | 0 | 418816 | 0 | 0 | 0 |
| Daryl Cady | |||||||||||||
| 198280 | 0 | 37075 | 0 | 0 | 0 | 3552 | 0 | 39112 | 0 | 278019 | 0 | 0 | 0 |
| Donald Stevens | |||||||||||||
| 193212 | 0 | 37423 | 0 | 0 | 0 | 3538 | 0 | 33854 | 0 | 268027 | 0 | 0 | 0 |
| Donald St Germain | |||||||||||||
| 134020 | 0 | 12248 | 0 | 0 | 0 | 2273 | 0 | 26035 | 0 | 174576 | 0 | 0 | 0 |
| Steven Macek | |||||||||||||
| 114068 | 0 | 9738 | 0 | 0 | 0 | 1931 | 0 | 25022 | 0 | 150759 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part I, Line 1a | ReturnReference |
| Explanation | Travel for companions of the Board and senior officers is permitted at times for special conferences. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| Form 990, Part VI, Section A, line 6 | The Credit Union's members have rights to elect the members of the governing body. Dividends on members' shares are based on available earnings at the end of a dividend period and are not guaranteed by the Credit Union. | |
| 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 B, line 11 | The Director of Finance will review Form 990 for accuracy and reasonableness. Then the Board of Directors will review. | |
| New employees are required to acknowledge that they have read and understand this policy. As updates to the policy occur, all SMB employees are required to acknowledge that they have read and understand the revised policy as applicable. In addition, the CAO sends out an annual "All Employee" communication reminding employees to use the review process for any situations that might be perceived as questionable. | Form 990, Part VI, Section B, line 12c | |
| SMB uses a third party vendor approved by the Board of Directors to set market based salary ranges for each position in the credit union. The vendor also makes recommendations regarding annual market increases each year. SMB's Board of Directors approves salary ranges for each year. The Board also approves the budget which contains merit increases for each year. | Form 990, Part VI, Section B, line 15 | |
| The financial statements for St. Mary's Bank Credit Union are distributed to all members who attend the annual meeting and also made available to the public upon written request. The governing documents are available upon request. All requests for the conflict of interest policy are referred to the marketing department to assess any potential public relations issues. | Form 990, Part VI, Section C, line 19 | |
| Changes in Net Assets or Fund Balances: | Net unrealized losses on investments: -773,283. Net defined benefit pension costs adjustments -1,417,000. Total to Form 990, Part XI, Line 5: -2,190,283. | Form 990, Part XI, line 5: |
| St. Mary's Bank developed a request for proposal process, management requested and received proposals from several CPA firms and presented those they determined most qualified to the Supervisory Committee. As a result, a new auditing firm was chosen for the current fiscal year. | Form 990, Part XII, Line 2c |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Riverside Financial Inc | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 990 | AddressLine1 |
| City | Manchester | City |
| State | NH | State |
| ZIP Code | 031050990 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 020419388 | EIN |
| Primary Activity | Financial and Tax Planning Services | PrimaryActivity |
| Legal Domicile State | NH | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | St Mary's Bank Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 90877 | ShareOfTotalIncome |
| Share Of EOY Assets | 260914 | 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 | 1 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |