Civic Intelligence

Greater Springfield Credit Union

990 • Fiscal year 2013 • EIN 04-1859290

Jan 01, 2013 to Dec 31, 2013 • Filed on Aug 14, 2014

Organization ProfileWWW.GRSCU.ORG

View Organization Page

1030 Wilbraham RoadSpringfield, MA 01109

(413) 782-3161

Siviq Scores

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

Liabilities / Assets

49th percentile

0.90x

Higher debt load relative to assets than 49% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Liabilities / Revenue

93rd percentile

26.44x

Higher debt load relative to revenue than 93% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Net Margin

97th percentile

30%

Higher net margin than 97% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Top Officer Pay

27th percentile

$149,394

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Source year 2013

Asset Growth

68th percentile

4.3%

Faster asset growth than 68% of similar nonprofits.

2013 filings • 501(c)14 • $100M-$250M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$139,445,327

Up $5,752,362 (+4.3%) from 2012

Net Assets

Up

$14,530,355

Up $704,635 (+5.1%) from 2012

Liabilities

Up

$124,914,972

Up $5,047,727 (+4.2%) from 2012

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin97th percentile

Revenue

$4,725,228

No earlier filing loaded for comparison.

Expenses

Down

$3,292,008

Down $391,049 (-11%) from 2012

Net Income

$1,433,220

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$300M$200M$100M$0Assets 2010: $128,996,250Liabilities 2010: $117,454,035Net Assets 2010: $11,542,2152010Assets 2011: $129,927,634Liabilities 2011: $117,104,707Net Assets 2011: $12,822,9272011Assets 2012: $133,692,965Liabilities 2012: $119,867,245Net Assets 2012: $13,825,7202012Assets 2013: $139,445,327Liabilities 2013: $124,914,972Net Assets 2013: $14,530,3552013Assets 2014: $141,231,475Liabilities 2014: $124,463,770Net Assets 2014: $16,767,7052014Assets 2015: $145,585,334Liabilities 2015: $127,181,207Net Assets 2015: $18,404,1272015Assets 2016: $159,401,475Liabilities 2016: $139,303,613Net Assets 2016: $20,097,8622016Assets 2017: $165,517,312Liabilities 2017: $142,917,423Net Assets 2017: $22,599,8892017Assets 2018: $163,833,095Liabilities 2018: $139,010,424Net Assets 2018: $24,822,6712018Assets 2019: $180,047,432Liabilities 2019: $151,419,886Net Assets 2019: $28,627,5462019Assets 2020: $221,372,665Liabilities 2020: $189,649,256Net Assets 2020: $31,723,4092020Assets 2021: $256,133,035Liabilities 2021: $223,641,731Net Assets 2021: $32,491,3042021Assets 2022: $247,239,099Liabilities 2022: $218,282,206Net Assets 2022: $28,956,8932022Assets 2023: $232,247,256Liabilities 2023: $199,548,943Net Assets 2023: $32,698,3132023Assets 2024: $233,310,109Liabilities 2024: $197,942,639Net Assets 2024: $35,367,4702024

Highlighted filing

2013

Assets$139,445,327
Liabilities$124,914,972
Net Assets$14,530,355
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0Expenses 2010: $4,544,4612010Expenses 2011: $4,040,5872011Expenses 2012: $3,683,0572012Revenue 2013: $4,725,228Expenses 2013: $3,292,008Net Income 2013: $1,433,2202013Revenue 2014: $4,822,625Expenses 2014: $3,129,892Net Income 2014: $1,692,7332014Revenue 2015: $4,988,692Expenses 2015: $3,190,804Net Income 2015: $1,797,8882015Revenue 2016: $5,354,135Expenses 2016: $3,139,702Net Income 2016: $2,214,4332016Revenue 2017: $5,719,470Expenses 2017: $3,246,335Net Income 2017: $2,473,1352017Revenue 2018: $6,070,353Expenses 2018: $3,267,137Net Income 2018: $2,803,2162018Revenue 2019: $6,540,991Expenses 2019: $3,890,948Net Income 2019: $2,650,0432019Revenue 2020: $6,721,495Expenses 2020: $4,365,447Net Income 2020: $2,356,0482020Revenue 2021: $6,141,527Expenses 2021: $4,285,356Net Income 2021: $1,856,1712021Revenue 2022: $6,756,923Expenses 2022: $4,436,311Net Income 2022: $2,320,6122022Revenue 2023: $8,065,826Expenses 2023: $5,553,694Net Income 2023: $2,512,1322023Revenue 2024: $9,614,722Expenses 2024: $7,155,310Net Income 2024: $2,459,4122024

Highlighted filing

2013

Revenue$4,725,228
Expenses$3,292,008
Net Income$1,433,220
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Aug 14, 2014
Return Version
2013v3.1
Gross Receipts
$5,842,075
Mission and Program Overview

Mission

Credit union - thrift services

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$51,459,673$60,582,664▲ $9,122,991
Savings and Temporary Cash Investments$69,209,569$59,788,858▼ $9,420,711
Rtn Earn Endowment Incm Other Fnds$13,825,720$14,530,355▲ $704,635
Investments in Publicly Traded Securities$7,903,902$14,090,960▲ $6,187,058
Land, Buildings, and Equipment, Net$1,704,749$1,618,838▼ $85,911
Receivables From Officers Etc$1,250,446$994,824▼ $255,622
Cash and Non-Interest-Bearing Accounts$657,072$728,881▲ $71,809
Investments Other Securities$141,200$154,300▲ $13,100
Prepaid Expenses and Deferred Charges$42,808$83,023▲ $40,215
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$133,692,965$139,445,327▲ $5,752,362
Other Assets Total$1,323,546$1,402,979▲ $79,433
Liabilities
Other Liabilities$118,877,551$123,709,063▲ $4,831,512
Accounts Payable and Accrued Expenses$628,248$792,142▲ $163,894
Escrow Account Liability$361,446$413,767▲ $52,321
Total Liabilities$119,867,245$124,914,972▲ $5,047,727
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,825,720$14,530,355▲ $704,635
Total Liabilities and Net Assets / Fund Balance$133,692,965$139,445,327▲ $5,752,362

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,158,453$465,325-
Other Land Buildings$35,374$332,684-
Land$50,600--
Equipment$68,135$113,644-
Leasehold Improvements$306,276$179,535-
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julia LavoieCEOFT$129,383$20,011$149,394
Jennifer St PeterCFOFT$79,887$10,875$90,762
Carolyn CoutureCOOFT$62,273$10,875$73,148

Board Members and Trustees

NameTitle
Cornelius SullivanPresident
Thomas GardinerVice President
David CleavallDirector
Gary RookeDirector
John TurgeonDirector
Melinda PhelpsDirector
Richard TromblyDirector
Thomas SullivanDirector
Michael TriggsClerk
Kenneth GustafsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
One BridgeDebit Cards-$148,124
Share OneCore Data Processor-$132,298
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,599,762
Investment Income
$932,347
Other Revenue
$1,193,119
Change in Net Assets
$1,433,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,121,439
Salaries, Compensation, and Employee Benefits$1,167,569
Grants and Similar Amounts Paid$3,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$996,499$20-$996,519
Other Salaries and Wages-$660,395-$660,395
Current Officers, Directors, Trustees, and Key Employees-$311,236-$311,236
Information Technology-$189,430-$189,430
All Other Expenses-$154,819-$154,819
Depreciation Depletion-$106,635-$106,635
Occupancy-$73,995-$73,995
Pension Plan Contributions-$73,707-$73,707
Payroll Taxes-$65,983-$65,983
Other Expenses-$62,510-$62,510
Other Employee Benefits-$56,248-$56,248
Office Expenses-$53,846-$53,846
Insurance-$31,729-$31,729
Conferences and Meetings-$24,000-$24,000
Advertising-$22,048-$22,048
Fees for Services Accounting-$7,500-$7,500
Grants to Domestic Individuals$3,000--$3,000
Travel-$2,655-$2,655
Total Functional Expenses$999,499$2,292,509$0$3,292,008
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,250,446$994,824▼ $255,622
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposit Accounts$123,696,892
Other Liabilitites$12,171
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Persons who meet the requirements of the organization's field of membership who hold at least one share of the capital.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Ceo and cfo review prior to being filed. A copy is givent to the audit committee and board of directors subsequent to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Employees must read and sign annually.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation is based on industry data, competition, etc, and approval by the board of directors.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Compensation is based on industry data, competition, etc, and approval by the board of directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Information is posted in credit union's lobby and available upon request.”

Filing and Contact Details

Filer

EIN
04-1859290
Phone
4137823161

Signing Officer

Name
Julia Lavoie
Title
CEO
Signed
2014-08-14
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
11
Independent Board Members
11
Employees
24
Volunteers
11

Preparer

Preparer
Robert Anderson
Phone
9782329300
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Change in fas115- unrealized gain/loss = -$728585”

Raw XML AppendixShowing 400 of 596 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/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt9CLERK
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0123696892

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$139,445,327
Liabilities
$124,914,972
Net assets
$14,530,355
Revenue
$4,725,228
Expenses
$3,292,008
Net income
$1,433,220
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$233$198$35.4$9.61$7.16$2.46
2023Detailed filing. Detailed filing data is available for this year.$232$200$32.7$8.07$5.55$2.51
2022Detailed filing. Detailed filing data is available for this year.$247$218$29.0$6.76$4.44$2.32
2021Detailed filing. Detailed filing data is available for this year.$256$224$32.5$6.14$4.29$1.86
2020Detailed filing. Detailed filing data is available for this year.$221$190$31.7$6.72$4.37$2.36
2019Detailed filing. Detailed filing data is available for this year.$180$151$28.6$6.54$3.89$2.65
2018Detailed filing. Detailed filing data is available for this year.$164$139$24.8$6.07$3.27$2.80
2017Detailed filing. Detailed filing data is available for this year.$166$143$22.6$5.72$3.25$2.47
2016Detailed filing. Detailed filing data is available for this year.$159$139$20.1$5.35$3.14$2.21
2015Detailed filing. Detailed filing data is available for this year.$146$127$18.4$4.99$3.19$1.80
2014Detailed filing. Detailed filing data is available for this year.$141$124$16.8$4.82$3.13$1.69
2013Detailed filing. Detailed filing data is available for this year.$139$125$14.5$4.73$3.29$1.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$134$120$13.8$3.68
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$130$117$12.8$4.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$129$117$11.5$4.54
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)14 • $100M-$250M nonprofits