Civic Intelligence

Holyoke Credit Union

990 • Fiscal year 2016 • EIN 04-1448660

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 25, 2017

Organization Profilewww.holyokecu.com

View Organization Page

490 Westfield RoadHolyoke, MA 01040

(413) 532-7007

Siviq Scores

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

Liabilities / Assets

65th percentile

0.91x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

47th percentile

17.94x

Higher debt load relative to revenue than 47% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Net Margin

44th percentile

9.2%

Higher net margin than 44% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

45th percentile

$189,416

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2016

Asset Growth

96th percentile

19%

Faster asset growth than 96% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

79th percentile

11%

Faster revenue growth than 79% of similar nonprofits.

2016 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$182,703,080

Up $28,961,030 (+19%) from 2015

Net Assets

Up

$17,268,038

Up $582,938 (+3.5%) from 2015

Liabilities

Up

$165,435,042

Up $28,378,092 (+21%) from 2015

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin44th percentile

Revenue

Up

$9,219,886

Up $942,393 (+11%) from 2015

Expenses

Up

$8,370,739

Up $634,409 (+8.2%) from 2015

Net Income

Up

$849,147

Up $307,984 (+57%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$300M$200M$100M$0Assets 2010: $134,894,896Liabilities 2010: $121,250,876Net Assets 2010: $13,644,0202010Assets 2011: $139,786,285Liabilities 2011: $125,484,301Net Assets 2011: $14,301,9842011Assets 2012: $136,907,776Liabilities 2012: $121,463,769Net Assets 2012: $15,444,0072012Assets 2013: $137,492,624Liabilities 2013: $121,843,823Net Assets 2013: $15,648,8012013Assets 2014: $145,435,131Liabilities 2014: $129,383,363Net Assets 2014: $16,051,7682014Assets 2015: $153,742,050Liabilities 2015: $137,056,950Net Assets 2015: $16,685,1002015Assets 2016: $182,703,080Liabilities 2016: $165,435,042Net Assets 2016: $17,268,0382016Assets 2017: $195,462,491Liabilities 2017: $177,594,603Net Assets 2017: $17,867,8882017Assets 2018: $196,145,655Liabilities 2018: $177,788,401Net Assets 2018: $18,357,2542018Assets 2019: $205,289,367Liabilities 2019: $185,777,709Net Assets 2019: $19,511,6582019Assets 2020: $227,078,051Liabilities 2020: $204,839,766Net Assets 2020: $22,238,2852020Assets 2021: $242,121,845Liabilities 2021: $220,863,049Net Assets 2021: $21,258,7962021Assets 2022: $254,372,424Liabilities 2022: $243,653,988Net Assets 2022: $10,718,4362022Assets 2023: $268,762,394Liabilities 2023: $255,541,291Net Assets 2023: $13,221,1032023Assets 2024: $290,153,007Liabilities 2024: $275,900,841Net Assets 2024: $14,252,1662024

Highlighted filing

2016

Assets$182,703,080
Liabilities$165,435,042
Net Assets$17,268,038
Open 2016 Filing

Operations Trend

Revenue Growth79th percentile

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

$20M$15M$10M$5.0M$0Expenses 2010: $7,695,3452010Expenses 2011: $7,469,0162011Expenses 2012: $8,229,2282012Revenue 2013: $8,983,991Expenses 2013: $7,964,913Net Income 2013: $1,019,0782013Revenue 2014: $8,042,213Expenses 2014: $7,766,327Net Income 2014: $275,8862014Revenue 2015: $8,277,493Expenses 2015: $7,736,330Net Income 2015: $541,1632015Revenue 2016: $9,219,886Expenses 2016: $8,370,739Net Income 2016: $849,1472016Revenue 2017: $9,818,528Expenses 2017: $9,060,164Net Income 2017: $758,3642017Revenue 2018: $10,328,968Expenses 2018: $9,672,783Net Income 2018: $656,1852018Revenue 2019: $11,655,369Expenses 2019: $10,644,557Net Income 2019: $1,010,8122019Revenue 2020: $10,939,108Expenses 2020: $9,304,369Net Income 2020: $1,634,7392020Revenue 2021: $10,425,579Expenses 2021: $8,909,846Net Income 2021: $1,515,7332021Revenue 2022: $10,438,136Expenses 2022: $9,354,398Net Income 2022: $1,083,7382022Revenue 2023: $12,721,013Expenses 2023: $12,497,017Net Income 2023: $223,9962023Revenue 2024: $15,347,549Expenses 2024: $15,093,907Net Income 2024: $253,6422024

Highlighted filing

2016

Revenue$9,219,886
Expenses$8,370,739
Net Income$849,147
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 25, 2017
Return Version
2016v3.0
Gross Receipts
$9,219,886
Mission and Program Overview

Mission

CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$96,529,122$121,236,235▲ $24,707,113
Investments in Publicly Traded Securities$21,853,762$29,902,033▲ $8,048,271
Rtn Earn Endowment Incm Other Fnds$16,685,100$17,268,038▲ $582,938
Savings and Temporary Cash Investments$22,185,662$15,551,173▼ $6,634,489
Land, Buildings, and Equipment, Net$3,482,419$4,938,566▲ $1,456,147
Prepaid Expenses and Deferred Charges$3,706,440$3,919,445▲ $213,005
Cash and Non-Interest-Bearing Accounts$2,591,011$3,355,096▲ $764,085
Accounts Receivable$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$153,742,050$182,703,080▲ $28,961,030
Other Assets Total$3,393,634$3,800,532▲ $406,898
Liabilities
Other Liabilities$104,973,189$127,899,923▲ $22,926,734
Mortgage Notes Payable Secured by Investment Property$30,922,386$36,535,263▲ $5,612,877
Accounts Payable and Accrued Expenses$1,161,375$999,856▼ $161,519
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$137,056,950$165,435,042▲ $28,378,092
Net Assets / Fund Balance
Total Net Assets Fund Balance$16,685,100$17,268,038▲ $582,938
Total Liabilities and Net Assets / Fund Balance$153,742,050$182,703,080▲ $28,961,030

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,412,187$1,150,820-
Land$424,200--
Equipment$822,062$1,003,847-
Leasehold Improvements$280,117$256,291-
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michael E MurphyPres./CEOFT$189,416$189,416
Sharon HamelMortgage OriginatorFT$134,235$134,235
Jay WolohanExecutive Vice PresidentFT$120,700$120,700
DANIEL O'NEILLSenior Vice Pres Comm LendingFT$101,701$101,701

Board Members and Trustees

NameTitle
Anne Marie MaronaAudit Committee Chair
Thomas G PaquinChairman
Dennis MoranDirector
Edward J DalyDirector
Karl SchmaelzleDirector
Michael GhazilDirector
Nicholas F FiorentinoDirector
Robert A PerkinsDirector
Robert E SwanDirector
Robert I FerrierDirector
Joseph A BeaulieuTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,353,188
Investment Income
$5,866,698
Other Revenue
$0
Change in Net Assets
$849,147

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,219,886
Total Revenue per Audited Statements
$9,219,886
Total Revenue per Form 990
$9,219,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,398,804
Salaries, Compensation, and Employee Benefits$2,971,935
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$1,748,792-$1,748,792
All Other Expenses-$1,422,521-$1,422,521
Other Expenses-$990,271-$990,271
Interest$363,879$599,206-$963,085
Current Officers, Directors, Trustees, and Key Employees-$546,052-$546,052
Office Expenses-$500,109-$500,109
Occupancy-$414,026-$414,026
Depreciation Depletion-$316,101-$316,101
Other Employee Benefits-$250,956-$250,956
Pension Plan Contributions-$233,792-$233,792
Advertising-$209,327-$209,327
Payroll Taxes-$192,343-$192,343
Fees for Services Accounting-$82,834-$82,834
Insurance-$73,792-$73,792
Conferences and Meetings-$42,944-$42,944
Fees for Services Legal-$25,202-$25,202
Total Functional Expenses$363,879$8,006,860$0$8,370,739

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,370,739
Total Expenses per Audited Statements$8,370,739
Total Expenses per Form 990$8,370,739
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$127,899,923
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

SECTION C DISCLOSURE: PART VI, SECTION C, QUESTION 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

SECTION B DISCLOSURE: PART VI, SECTION B, 11B

“A board member reviews the 990 before it is filed.”

Filing and Contact Details

Filer

Filer Name
Holyoke Credit Union
EIN
04-1448660
In Care Of
% MICHAEL E MURPHY
Address
490 WESTFIELD ROAD, HOLYOKE, MA 01040

Signing Officer

Name
Michael E Murphy
Title
Pres/CEO
Phone
4135327007
Signed
2017-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael E Murphy
Formed
1911
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
0
Employees
53
Volunteers
0

Preparer

Firm
Aubrey & Dixon LLC
Address
330 Whitney Ave Suite 440, Holyoke, MA 01040
Preparer
Robert C Dixon
Phone
4135341160
Supplemental Narrative

Additional Explanations

Part XI, Number 5

“Change in unrealized gain on investments”

Form 990 Part IX Line 24 - Other Expenses

“Description:outside services total expenses:1241790 management and general:1241790”

Form 990 Part IX Line 24 - Other Expenses

“Description:payroll expenses total expenses:6161 management and general:6161”

Form 990 Part IX Line 24 - Other Expenses

“Description:loan loss provision total expenses:174570 management and general:174570”

Raw XML AppendixShowing 400 of 501 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/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Audit Committee Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRES./CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SENIOR VICE PRES COMM LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14MORTGAGE ORIGINATOR
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt029902033
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IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt036535263
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-266209
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IRS990/OperateHospitalInd0false
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IRS990/OtherAssetsTotalGrp/EOYAmt03800532
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0250956
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0250956
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IRS990/OtherExpensesGrp/Desc1CU DIRECT EXPENSES
IRS990/OtherExpensesGrp/Desc2LOSS ON SALE OF OTHER AUTO
IRS990/OtherExpensesGrp/Desc3BANK CHARGES AND OTHER
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11425
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23431
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3990271
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IRS990/OtherExpensesGrp/TotalAmt11425
IRS990/OtherExpensesGrp/TotalAmt23431
IRS990/OtherExpensesGrp/TotalAmt3990271
IRS990/OtherLiabilitiesGrp/BOYAmt0104973189
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01748792
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt096529122
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0121236235
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PayrollTaxesGrp/TotalAmt0192343
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0233792
IRS990/PensionPlanContributionsGrp/TotalAmt0233792
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03706440
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03919445
IRS990/PrincipalOfficerNm0MICHAEL E MURPHY
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherExpensesAmt04888647
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt03293470
IRS990/PYRevenuesLessExpensesAmt0541163
IRS990/PYSalariesCompEmpBnftPaidAmt02847683
IRS990/PYTotalExpensesAmt07736330
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08277493
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
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IRS990/ReconcilationRevenueExpnssAmt0849147
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0822062
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01003847
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01825907
IRS990ScheduleD/ExpensesSubtotalAmt08370739
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0280117
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0256291
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0536408
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0127899923
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Shares
IRS990ScheduleD/RevenueSubtotalAmt09219886
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04938566
IRS990ScheduleD/TotalExpensesPerForm990Amt08370739
IRS990ScheduleD/TotalLiabilityAmt0127899923
IRS990ScheduleD/TotalRevenuePerForm990Amt09219886
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08370739
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MICHAEL E MURPHY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRES./CEO

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$182,703,080
Liabilities
$165,435,042
Net assets
$17,268,038
Revenue
$9,219,886
Expenses
$8,370,739
Net income
$849,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$290$276$14.3$15.3$15.1$0.25
2023Detailed filing. Detailed filing data is available for this year.$269$256$13.2$12.7$12.5$0.22
2022Detailed filing. Detailed filing data is available for this year.$254$244$10.7$10.4$9.35$1.08
2021Detailed filing. Detailed filing data is available for this year.$242$221$21.3$10.4$8.91$1.52
2020Detailed filing. Detailed filing data is available for this year.$227$205$22.2$10.9$9.30$1.63
2019Detailed filing. Detailed filing data is available for this year.$205$186$19.5$11.7$10.6$1.01
2018Detailed filing. Detailed filing data is available for this year.$196$178$18.4$10.3$9.67$0.66
2017Detailed filing. Detailed filing data is available for this year.$195$178$17.9$9.82$9.06$0.76
2016Detailed filing. Detailed filing data is available for this year.$183$165$17.3$9.22$8.37$0.85
2015Detailed filing. Detailed filing data is available for this year.$154$137$16.7$8.28$7.74$0.54
2014Detailed filing. Detailed filing data is available for this year.$145$129$16.1$8.04$7.77$0.28
2013Detailed filing. Detailed filing data is available for this year.$137$122$15.6$8.98$7.96$1.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$137$121$15.4$8.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$140$125$14.3$7.47
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$135$121$13.6$7.70