Civic Intelligence

Opportunities Credit Union

990 • Fiscal year 2019 • EIN 03-0321712

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 16, 2020

Organization ProfileOPPSVT.ORG

View Organization Page

25 Winooski Falls Way No 203Winooski, VT 05404-0067

(802) 654-4540

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.87x

Higher debt load relative to assets than 52% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

12th percentile

11.25x

Higher debt load relative to revenue than 12% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Net Margin

13th percentile

2.2%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$134,485

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Asset Growth

97th percentile

13%

Faster asset growth than 97% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

23rd percentile

2.1%

Faster revenue growth than 23% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$43,417,963

Up $5,152,872 (+13%) from 2018

Net Assets

Up

$5,596,360

Up $75,392 (+1.4%) from 2018

Liabilities

Up

$37,821,603

Up $5,077,480 (+16%) from 2018

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin13th percentile

Revenue

Up

$3,362,082

Up $69,235 (+2.1%) from 2018

Expenses

Up

$3,286,690

Up $366,356 (+13%) from 2018

Net Income

Down

$75,392

Down $297,121 (-80%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $33,271,684Liabilities 2010: $31,046,350Net Assets 2010: $2,225,3342010Assets 2011: $32,703,105Liabilities 2011: $30,405,813Net Assets 2011: $2,297,2922011Assets 2012: $36,176,828Liabilities 2012: $33,241,327Net Assets 2012: $2,935,5012012Assets 2013: $34,338,303Liabilities 2013: $30,622,722Net Assets 2013: $3,715,5812013Assets 2014: $37,685,807Liabilities 2014: $33,624,761Net Assets 2014: $4,061,0462014Assets 2015: $36,497,082Liabilities 2015: $31,861,712Net Assets 2015: $4,635,3702015Assets 2016: $37,110,533Liabilities 2016: $32,103,442Net Assets 2016: $5,007,0912016Assets 2017: $36,958,672Liabilities 2017: $31,810,216Net Assets 2017: $5,148,4562017Assets 2018: $38,265,091Liabilities 2018: $32,744,123Net Assets 2018: $5,520,9682018Assets 2019: $43,417,963Liabilities 2019: $37,821,603Net Assets 2019: $5,596,3602019Assets 2020: $53,678,583Liabilities 2020: $48,064,330Net Assets 2020: $5,614,2532020Assets 2021: $59,732,951Liabilities 2021: $53,509,222Net Assets 2021: $6,223,7292021Assets 2022: $63,188,457Liabilities 2022: $56,961,629Net Assets 2022: $6,226,8282022Assets 2023: $65,716,416Liabilities 2023: $59,338,324Net Assets 2023: $6,378,0922023Assets 2024: $64,141,500Liabilities 2024: $57,937,007Net Assets 2024: $6,204,4932024Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2019

Assets$43,417,963
Liabilities$37,821,603
Net Assets$5,596,360
Open 2019 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,659,0522010Expenses 2011: $2,534,4342011Expenses 2012: $2,596,9192012Revenue 2013: $3,196,567Expenses 2013: $2,807,931Net Income 2013: $388,6362013Revenue 2014: $3,132,610Expenses 2014: $2,787,145Net Income 2014: $345,4652014Revenue 2015: $3,819,882Expenses 2015: $3,245,558Net Income 2015: $574,3242015Revenue 2016: $3,723,548Expenses 2016: $3,351,827Net Income 2016: $371,7212016Revenue 2017: $3,009,150Expenses 2017: $2,867,785Net Income 2017: $141,3652017Revenue 2018: $3,292,847Expenses 2018: $2,920,334Net Income 2018: $372,5132018Revenue 2019: $3,362,082Expenses 2019: $3,286,690Net Income 2019: $75,3922019Revenue 2020: $3,370,505Expenses 2020: $3,352,612Net Income 2020: $17,8932020Revenue 2021: $3,891,692Expenses 2021: $3,282,216Net Income 2021: $609,4762021Revenue 2022: $4,637,677Expenses 2022: $4,512,898Net Income 2022: $124,7792022Revenue 2023: $4,515,877Expenses 2023: $4,426,983Net Income 2023: $88,8942023Revenue 2024: $4,537,090Expenses 2024: $4,847,235Net Income 2024: -$310,1452024Revenue 2025: $1,647,308Expenses 2025: $2,147,740Net Income 2025: -$500,4322025

Highlighted filing

2019

Revenue$3,362,082
Expenses$3,286,690
Net Income$75,392
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 16, 2020
Return Version
2019v5.1
Gross Receipts
$3,362,082
Mission and Program Overview

Mission

To build wealth and create economic opportunity by bringing affordable capital and financial services to traditionally underserved populations

To build wealth, community, and opportunity through a fair and affordable financial system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$33,783,874$36,251,068▲ $2,467,194
Rtn Earn Endowment Incm Other Fnds$5,520,968$5,596,360▲ $75,392
Savings and Temporary Cash Investments$1,287,347$4,728,910▲ $3,441,563
Investments Other Securities$964,400$715,700▼ $248,700
Cash and Non-Interest-Bearing Accounts$797,346$380,559▼ $416,787
Accounts Receivable$160,391$129,206▼ $31,185
Prepaid Expenses and Deferred Charges$129,718$99,232▼ $30,486
Land, Buildings, and Equipment, Net$82,862$38,219▼ $44,643
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$38,265,091$43,417,963▲ $5,152,872
Other Assets Total$1,059,153$1,075,069▲ $15,916
Liabilities
Other Liabilities$25,300,342$30,058,992▲ $4,758,650
Unsecured Notes Loans Payable$5,295,660$5,668,460▲ $372,800
Escrow Account Liability$1,385,035$1,759,759▲ $374,724
Deferred Revenue$752,693$257,407▼ $495,286
Accounts Payable and Accrued Expenses$10,393$76,985▲ $66,592
Total Liabilities$32,744,123$37,821,603▲ $5,077,480
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,520,968$5,596,360▲ $75,392
Total Liabilities and Net Assets / Fund Balance$38,265,091$43,417,963▲ $5,152,872

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,659$836,030$857,689
Leasehold Improvements$16,560$151,318$167,878
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cheryl FatnassiPresident (until 12/31/19)FT$125,300$9,185$134,485
Erin MetivierSr Finance/hr ManagerFT$75,511$7,460$82,971
Kate LaudPresident (as of 9/9/19)FT$38,759-$38,759

Board Members and Trustees

NameTitle
Charles BakerChair
Michael Tuttle1st Vice Chair/treasurer (until 1/1/19)
Agnes Cook2nd Vice Chair/secretary
Amitava BiswasDirector
Gary EleyDirector
Glenn Von BernewitzDirector
Jacoub BogreDirector
Martin HoakDirector
Shanna RatnerDirector (until 1/29/19)
Steven KleinDirector (until 12/31/19)
Revenue and Support

Revenue Composition

Contributions and Grants
$673,184
Program Service Revenue
$2,612,575
Investment Income
$76,323
Other Revenue
$0
All Other Contributions
$36,684
Change in Net Assets
$75,392

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,362,082
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,362,082
Total Revenue per Form 990
$3,362,082
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,757,554
Other Expenses$1,452,513
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,173,364
Office Expenses---$322,439
Current Officers, Directors, Trustees, and Key Employees---$257,748
Other Employee Benefits---$175,461
Information Technology---$151,490
Occupancy---$141,145
Payroll Taxes---$126,162
Advertising---$103,345
Fees for Services Other---$78,048
Other Expenses---$77,359
Benefits to Members---$76,623
Interest---$59,129
Depreciation Depletion---$34,295
Fees for Services Accounting---$31,491
Pension Plan Contributions---$24,819
Conferences and Meetings---$22,042
Insurance---$21,913
All Other Expenses---$17,094
Travel---$14,203
Fees for Services Legal---$2,856
Total Functional Expenses$0$0$0$3,286,690

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,286,690
Total Expenses per Audited Statements$3,286,690
Total Expenses per Form 990$3,286,690
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share Accounts$18,772,984
Non-members Share Accounts$11,286,008
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Depositors qualifying under the credit union's field of membership are considered members with voting rights for the board of directors.”

Form 990, Part VI, Section A, Line 7A

“Members elect the board of directors at the annual meeting. The organization's board of directors elects the officers of the board after the board elections by it's members of the organization has occurred.”

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 11B

“Ceo and sr. Finance/hr manager review all of the financial pages against the cu's income statement and balance sheet and all of the questions and other information throughout all schedules for accuracy. Any issues are documented in writing to rsm prior to signing off on the final versions to be filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“The board reviews the conflict of interest which is updated as necessary at least annually. Each board member (officers) and sr. Manager (key persons) sign off that they have read and understood it. Any conflicts of interest are then resolved and documented in the board minutes. Any conflicts of interest are identified and reviewed by the board. Board discussion and any required approvals are handled annually at the board meeting after the disclosures have been received. The board will vote on any items that require board approval excluding members who are party to the disclosed area. Should the issue not be resolvable in this manner the governance committee working with the ceo will take appropriate action to address all other conflicts which may include termination of the individual with unresolved conflicts of interest.”

Form 990, Part VI, Section B, Line 15A

“The executive committee of the board reviews and make decisions on the ceo compensation decisions which are approved by the full board annually along with the ceo's annual performance review. The ceo works with the finance manager and hr committee to set compensation for all other positions using market information for similar positions and also internal comparisons against similar positions.”

Form 990, Part VI, Section C, Line 19

“The organization makes their governing documents, conflict of interest policy, and financial statements available to the public upon request, for the same period of time as required by irc section 6104.”

Filing and Contact Details

Filer

Filer Name
Opportunities Credit Union
EIN
03-0321712
Phone
8026544540
Address
25 WINOOSKI FALLS WAY NO 203, WINOOSKI, VT 05404-0067

Signing Officer

Name
Kate Laud
Title
President & CEO
Phone
8026544540
Signed
2020-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kate Laud
Formed
1989
Legal Domicile
Vt
Voting Board Members
7
Independent Board Members
7
Employees
35
Volunteers
17

Preparer

Firm
Rsm US Llp
Address
801 NICOLLET MALL WEST TOWER STE, 1100, MINNEAPOLIS, MN 55402-2526
Preparer
Kacie Mcewen
Phone
6123324300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization's process has not changed.”

Financial Statement Notes

PART IV, LINE 1B:

“Funds are held in escrow to pay insurance and taxes on mortgage loans serviced by the credit union.”

PART IV, LINE 2B:

“The credit union holds funds in escrow to pay insurance and taxes on behalf of its members on their mortgage loans.”

PART X, LINE 2:

“Management annually reviews for uncertain tax positions along with any related interest and penalties and believes that the credit union has no uncertain tax positions that would have a material adverse effect, individually or in the aggregate upon the credit union's statements of financial condition, or the related statements of income, or cash flows.”

Raw XML AppendixShowing 400 of 503 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0OPPORTUNITIES CREDIT UNION (THE CREDIT UNION) IS FOCUSED ON IMPROVING THE FINANCIAL STABILITY OF VERMONTERS AND OUR COMMUNITY. OUR MEMBERS COME FROM OVER 220 TOWNS IN VERMONT AND OVER 42 COUNTRIES. EACH MEMBER HAS HIS OR HER OWN UNIQUE STORY AND FINANCIAL GOALS. OUR INVESTORS AND PARTNERS ARE EQUALLY FOCUSED ON HAVING AN IMPACT IN OUR TARGET MARKET. THE CREDIT UNION IS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SERVING THE STATE OF VERMONT'S MODERATE- AND LOW-INCOME POPULATION WITH AFFORDABLE CAPITAL AND COUNSELING-BASED FINANCIAL SERVICES. THE CREDIT UNION ATTRACTS FEDERAL AND OTHER GRANTS TO ASSIST IN PROVIDING THESE PROGRAMS. AS A NONPROFIT ORGANIZATION, THE CREDIT UNION IS DEDICATED TO PROMOTING THRIFT AMONG ITS MEMBERS BY AFFORDING THEM AN OPPORTUNITY FOR ACCUMULATING THEIR SAVINGS, ASSISTING TO CREATE FOR THEM A SOURCE OF CREDIT FOR PROVIDENT OR PRODUCTIVE PURPOSES AT A REASONABLE RATE OF INTEREST, AND PROVIDING THE OPPORTUNITY FOR THE MEMBERS TO USE AND CONTROL THEIR MONEY FOR THEIR MUTUAL BENEFITS. THE TARGET AREA IS THE BURLINGTON ENTERPRISE COMMUNITY AND SELECTED GROUPS THROUGHOUT VERMONT.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT (UNTIL 12/31/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt1SR FINANCE/HR MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT (AS OF 9/9/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt41ST VICE CHAIR/TREASURER (UNTIL 1/1/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt52ND VICE CHAIR/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR (UNTIL 12/31/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR (UNTIL 1/29/19)
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01989
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt0636500
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt03362082
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0151490
IRS990/InsuranceGrp/TotalAmt021913
IRS990/InterestGrp/TotalAmt059129
IRS990/InvestmentIncomeGrp/ExclusionAmt076323
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt076323
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0964400
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0715700
IRS990/IRPDocumentCnt0463
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0987348
IRS990/LandBldgEquipBasisNetGrp/BOYAmt082862
IRS990/LandBldgEquipBasisNetGrp/EOYAmt038219
IRS990/LandBldgEquipCostOrOtherBssAmt01025567
IRS990/LegalDomicileStateCd0VT
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd01
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OPPORTUNITIES CREDIT UNION'S MISSION IS TO BUILD WEALTH, COMMUNITY, AND OPPORTUNITY THROUGH A FAIR AND AFFORDABLE FINANCIAL SYSTEM.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt05520968
IRS990/NetAssetsOrFundBalancesEOYAmt05596360
IRS990/NetUnrelatedBusTxblIncmAmt0-5854
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0141145
IRS990/OfficeExpensesGrp/TotalAmt0322439
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01059153
IRS990/OtherAssetsTotalGrp/EOYAmt01075069
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0175461
IRS990/OtherExpensesGrp/Desc0PROVISION FOR LOAN LOSS
IRS990/OtherExpensesGrp/Desc1DIVIDENDS PAID TO NON-M
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING EXPENSE
IRS990/OtherExpensesGrp/TotalAmt0188551
IRS990/OtherExpensesGrp/TotalAmt1187113
IRS990/OtherExpensesGrp/TotalAmt277359
IRS990/OtherLiabilitiesGrp/BOYAmt025300342
IRS990/OtherLiabilitiesGrp/EOYAmt030058992
IRS990/OtherSalariesAndWagesGrp/TotalAmt01173364
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt033783874
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt036251068
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0126162
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt024819
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0129718
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt099232
IRS990/PrincipalOfficerNm0KATE LAUD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0522100
IRS990/ProgramServiceRevenueGrp/BusinessCd1522100
IRS990/ProgramServiceRevenueGrp/BusinessCd2522100
IRS990/ProgramServiceRevenueGrp/BusinessCd3522100
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST ON LOANS
IRS990/ProgramServiceRevenueGrp/Desc1LOAN ORIGINATION AND M
IRS990/ProgramServiceRevenueGrp/Desc2LOAN SERVICING INCOME
IRS990/ProgramServiceRevenueGrp/Desc3NCUA SHARE INSURANCE F
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01919273
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1424770
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2221215
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt321764
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01919273
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1450323
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2221215
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt321764
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt025553
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt044524
IRS990/PYContributionsGrantsAmt0752473
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt084297
IRS990/PYOtherExpensesAmt01297685
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt02456077
IRS990/PYRevenuesLessExpensesAmt0372513
IRS990/PYSalariesCompEmpBnftPaidAmt01578125
IRS990/PYTotalExpensesAmt02920334
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03292847
IRS990/ReconcilationRevenueExpnssAmt075392
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05520968
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05596360
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01287347
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04728910
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd01
IRS990ScheduleD/BeginningBalanceAmt01008285
IRS990ScheduleD/DistributionsDuringYearAmt0348840
IRS990ScheduleD/EndingBalanceAmt0659445
IRS990ScheduleD/EquipmentGrp/BookValueAmt021659
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0836030
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0857689
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03286690
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt016560
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0151318
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0167878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018772984
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111286008
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARE ACCOUNTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NON-MEMBERS SHARE ACCOUNTS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03362082
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDS ARE HELD IN ESCROW TO PAY INSURANCE AND TAXES ON MORTGAGE LOANS SERVICED BY THE CREDIT UNION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY INSURANCE AND TAXES ON BEHALF OF ITS MEMBERS ON THEIR MORTGAGE LOANS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT ANNUALLY REVIEWS FOR UNCERTAIN TAX POSITIONS ALONG WITH ANY RELATED INTEREST AND PENALTIES AND BELIEVES THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT, INDIVIDUALLY OR IN THE AGGREGATE UPON THE CREDIT UNION'S STATEMENTS OF FINANCIAL CONDITION, OR THE RELATED STATEMENTS OF INCOME, OR CASH FLOWS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 1B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038219
IRS990ScheduleD/TotalExpensesPerForm990Amt03286690
IRS990ScheduleD/TotalLiabilityAmt030058992
IRS990ScheduleD/TotalRevenuePerForm990Amt03362082
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03362082
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03286690
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEPOSITORS QUALIFYING UNDER THE CREDIT UNION'S FIELD OF MEMBERSHIP ARE CONSIDERED MEMBERS WITH VOTING RIGHTS FOR THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING. THE ORGANIZATION'S BOARD OF DIRECTORS ELECTS THE OFFICERS OF THE BOARD AFTER THE BOARD ELECTIONS BY IT'S MEMBERS OF THE ORGANIZATION HAS OCCURRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CEO AND SR. FINANCE/HR MANAGER REVIEW ALL OF THE FINANCIAL PAGES AGAINST THE CU'S INCOME STATEMENT AND BALANCE SHEET AND ALL OF THE QUESTIONS AND OTHER INFORMATION THROUGHOUT ALL SCHEDULES FOR ACCURACY. ANY ISSUES ARE DOCUMENTED IN WRITING TO RSM PRIOR TO SIGNING OFF ON THE FINAL VERSIONS TO BE FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS THE CONFLICT OF INTEREST WHICH IS UPDATED AS NECESSARY AT LEAST ANNUALLY. EACH BOARD MEMBER (OFFICERS) AND SR. MANAGER (KEY PERSONS) SIGN OFF THAT THEY HAVE READ AND UNDERSTOOD IT. ANY CONFLICTS OF INTEREST ARE THEN RESOLVED AND DOCUMENTED IN THE BOARD MINUTES. ANY CONFLICTS OF INTEREST ARE IDENTIFIED AND REVIEWED BY THE BOARD. BOARD DISCUSSION AND ANY REQUIRED APPROVALS ARE HANDLED ANNUALLY AT THE BOARD MEETING AFTER THE DISCLOSURES HAVE BEEN RECEIVED. THE BOARD WILL VOTE ON ANY ITEMS THAT REQUIRE BOARD APPROVAL EXCLUDING MEMBERS WHO ARE PARTY TO THE DISCLOSED AREA. SHOULD THE ISSUE NOT BE RESOLVABLE IN THIS MANNER THE GOVERNANCE COMMITTEE WORKING WITH THE CEO WILL TAKE APPROPRIATE ACTION TO ADDRESS ALL OTHER CONFLICTS WHICH MAY INCLUDE TERMINATION OF THE INDIVIDUAL WITH UNRESOLVED CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND MAKE DECISIONS ON THE CEO COMPENSATION DECISIONS WHICH ARE APPROVED BY THE FULL BOARD ANNUALLY ALONG WITH THE CEO'S ANNUAL PERFORMANCE REVIEW. THE CEO WORKS WITH THE FINANCE MANAGER AND HR COMMITTEE TO SET COMPENSATION FOR ALL OTHER POSITIONS USING MARKET INFORMATION FOR SIMILAR POSITIONS AND ALSO INTERNAL COMPARISONS AGAINST SIMILAR POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST, FOR THE SAME PERIOD OF TIME AS REQUIRED BY IRC SECTION 6104.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION'S PROCESS HAS NOT CHANGED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0OPPORTUNITIES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1OPPORTUNITIES VENTURES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0043586239
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1043586244
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVIDE AFFORDABLE CAPITAL & FINANCIAL SERVICES TO UNDERSERVED.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROVIDES REVOLVING LOANS TO QUALIFIED INDIVIDUALS FOR VARIOUS PURPOSES.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt025 WINOOSKI FALLS WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt125 WINOOSKI FALLS WAY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WINOOSKI

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$43,417,963
Liabilities
$37,821,603
Net assets
$5,596,360
Revenue
$3,362,082
Expenses
$3,286,690
Net income
$75,392
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.65$2.15$0.50
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.1$57.9$6.20$4.54$4.85$0.31
2023Detailed filing. Detailed filing data is available for this year.$65.7$59.3$6.38$4.52$4.43$0.09
2022Detailed filing. Detailed filing data is available for this year.$63.2$57.0$6.23$4.64$4.51$0.12
2021Detailed filing. Detailed filing data is available for this year.$59.7$53.5$6.22$3.89$3.28$0.61
2020Detailed filing. Detailed filing data is available for this year.$53.7$48.1$5.61$3.37$3.35$0.02
2019Detailed filing. Detailed filing data is available for this year.$43.4$37.8$5.60$3.36$3.29$0.08
2018Detailed filing. Detailed filing data is available for this year.$38.3$32.7$5.52$3.29$2.92$0.37
2017Detailed filing. Detailed filing data is available for this year.$37.0$31.8$5.15$3.01$2.87$0.14
2016Detailed filing. Detailed filing data is available for this year.$37.1$32.1$5.01$3.72$3.35$0.37
2015Detailed filing. Detailed filing data is available for this year.$36.5$31.9$4.64$3.82$3.25$0.57
2014Detailed filing. Detailed filing data is available for this year.$37.7$33.6$4.06$3.13$2.79$0.35
2013Detailed filing. Detailed filing data is available for this year.$34.3$30.6$3.72$3.20$2.81$0.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.2$33.2$2.94$2.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.7$30.4$2.30$2.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.3$31.0$2.23$2.66