Civic Intelligence

Greater Springfield Credit Union

990 • Fiscal year 2016 • EIN 04-1859290

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 10, 2017

1030 Wilbraham RoadSpringfield, MA 01109-2023

(413) 782-3161

Siviq Scores

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

Liabilities / Assets

29th percentile

0.87x

Higher debt load relative to assets than 29% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

26.02x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

99th percentile

41%

Higher net margin than 99% of similar nonprofits.

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

Top Officer Pay

8th percentile

$117,116

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

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

Asset Growth

85th percentile

9.5%

Faster asset growth than 85% of similar nonprofits.

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

Revenue Growth

62nd percentile

7.3%

Faster revenue growth than 62% of similar nonprofits.

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

Assets

Up

$159,401,475

Up $13,816,141 (+9.5%) from 2015

Net Assets

Up

$20,097,862

Up $1,693,735 (+9.2%) from 2015

Liabilities

Up

$139,303,613

Up $12,122,406 (+9.5%) from 2015

Revenue

Up

$5,354,135

Up $365,443 (+7.3%) from 2015

Expenses

Down

$3,139,702

Down $51,102 (-1.6%) from 2015

Net Income

Up

$2,214,433

Up $416,545 (+23%) from 2015

Historical Trend

Balance Sheet Trend

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

2016

Assets$159,401,475
Liabilities$139,303,613
Net Assets$20,097,862

Operations Trend

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

2016

Revenue$5,354,135
Expenses$3,139,702
Net Income$2,214,433
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 10, 2017
Return Version
2016v3.0
Gross Receipts
$5,389,018
Mission and Program Overview

Mission

Credit union - thrift services

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$73,914,121$77,170,872▲ $3,256,751
Savings and Temporary Cash Investments$49,274,318$51,883,466▲ $2,609,148
Investments in Publicly Traded Securities$17,129,397$24,679,679▲ $7,550,282
Rtn Earn Endowment Incm Other Fnds$18,404,127$20,097,862▲ $1,693,735
Receivables From Officers Etc$1,268,539$1,657,625▲ $389,086
Land, Buildings, and Equipment, Net$1,464,442$1,383,584▼ $80,858
Cash and Non-Interest-Bearing Accounts$789,763$723,340▼ $66,423
Investments Other Securities$212,700$233,200▲ $20,500
Prepaid Expenses and Deferred Charges$35,547$69,102▲ $33,555
Total Assets$145,585,334$159,401,475▲ $13,816,141
Other Assets Total$1,496,507$1,600,607▲ $104,100
Liabilities
Other Liabilities$126,252,964$137,878,676▲ $11,625,712
Accounts Payable and Accrued Expenses$442,767$922,325▲ $479,558
Escrow Account Liability$485,476$502,612▲ $17,136
Total Liabilities$127,181,207$139,303,613▲ $12,122,406
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,404,127$20,097,862▲ $1,693,735
Total Liabilities and Net Assets / Fund Balance$145,585,334$159,401,475▲ $13,816,141

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,042,052$581,726$1,623,778
Leasehold Improvements$253,733$152,591$406,324
Other Land Buildings$19,266$379,766$399,032
Equipment$17,933$136,996$154,929
Land$50,600-$50,600
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer St PeterCEOFT$105,143$11,973$117,116
Carolyn CoutureCOOFT$76,407$24,252$100,659
Diane UlitschCFO-$55,980$16,532$72,512

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
VantivDebit Cards8500 GOVERNORS HILL DRIVE, Cinncinatti, OH 45249$141,107
Share OneCore Dp2650 THOUSND OAKS BLVD SUITE 1120, Memphis, TN 38101$128,530
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,903,781
Investment Income
$1,221,874
Other Revenue
$1,228,480
Change in Net Assets
$2,214,433
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,976,937
Salaries, Compensation, and Employee Benefits$1,159,765
Grants and Similar Amounts Paid$3,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$917,152
Other Salaries and Wages---$665,404
Current Officers, Directors, Trustees, and Key Employees---$290,287
Information Technology---$174,061
Office Expenses---$150,765
Occupancy---$108,100
All Other Expenses---$87,328
Pension Plan Contributions---$73,490
Other Employee Benefits---$66,258
Depreciation Depletion---$64,591
Payroll Taxes---$64,326
Other Expenses---$51,948
Fees for Services Accounting---$40,049
Conferences and Meetings---$37,945
Insurance---$28,332
Grants to Domestic Individuals---$3,000
Travel---$1,379
Advertising---$-9,015
Total Functional Expenses$0$0$0$3,139,702
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$1,268,539$1,657,625▲ $389,086
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposit Accounts$137,851,957
Other Liabilities$26,719
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 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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

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

Form 990, Page 6, Part VI, Line 7A

Eah member has a vote at the election of the board of directors.

Form 990, Page 6, Part VI, Line 7B

Any changes to the incorporating documents, i.e. Bylaws are approved by the membership

Form 990, Page 6, Part VI, Line 11B

The ceo and cfo review prior to being filed. A copy is given to the audit committee and board of directors subsequent to filing.

Form 990, Page 6, Part VI, Line 12C

Employees must read and sign annually.

Form 990, Page 6, Part VI, Line 15A

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

Form 990, Page 6, Part VI, Line 15B

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

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Greater Springfield Credit Union
EIN
04-1859290
Phone
4137823161
Address
1030 WILBRAHAM ROAD, SPRINGFIELD, MA 01109-2023

Signing Officer

Name
Jennifer St Peter
Title
CEO
Phone
4137823161
Signed
2017-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer St Peter
Formed
1927
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
11
Employees
24
Volunteers
11

Preparer

Firm
Garvey Steele & Company Llp
Address
PO BOX 397, MYSTIC, CT 06355-0397
Preparer
Richard B Steele CPA
Phone
8605369831
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

Mortgage escrow accounts held for the payment of real estate taxes for municipalities.

Raw XML AppendixShowing 400 of 650 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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Document Assets

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Filings

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