Civic Intelligence

Watertown Municipal Credit Union

EIN 04-1950795 • 501(c)14 • Watertown, MA

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Profile

CREDIT UNION

149 Main StreetWatertown, MA 02472-4410

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

14th percentile

0.70x

Higher debt load relative to assets than 14% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

25.61x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2021

Net Margin

82nd percentile

22%

Higher net margin than 82% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

13th percentile

$16,059

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

501(c)14 • $10M-$25M nonprofits • Source year 2021

Asset Growth

68th percentile

2.7%

Faster asset growth than 68% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

92nd percentile

22%

Faster revenue growth than 92% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$11,264,494

Up $299,239 (+2.7%) from 2020

Liabilities

Up

$7,922,866

Up $231,028 (+3.0%) from 2020

Net Assets

Up

$3,341,628

Up $68,211 (+2.1%) from 2020

Operations
Liabilities / Revenue87th percentileNet Margin82nd percentile

Revenue

Up

$309,357

Up $55,643 (+22%) from 2020

Expenses

Up

$241,146

Up $2,899 (+1.2%) from 2020

Net Income

Up

$68,211

Up $52,744 (+341%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth68th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $11,439,877Liabilities 2010: $7,744,351Net Assets 2010: $3,695,5262010Assets 2011: $11,468,583Liabilities 2011: $7,804,065Net Assets 2011: $3,664,5182011Assets 2012: $11,863,254Liabilities 2012: $8,237,473Net Assets 2012: $3,625,7812012Assets 2013: $12,123,133Liabilities 2013: $8,515,284Net Assets 2013: $3,607,8492013Assets 2014: $11,915,646Liabilities 2014: $8,465,444Net Assets 2014: $3,450,2022014Assets 2015: $11,732,076Liabilities 2015: $8,398,639Net Assets 2015: $3,333,4372015Assets 2016: $11,598,137Liabilities 2016: $8,282,229Net Assets 2016: $3,315,9082016Assets 2017: $10,946,515Liabilities 2017: $7,737,453Net Assets 2017: $3,209,0622017Assets 2018: $10,426,243Liabilities 2018: $7,198,015Net Assets 2018: $3,228,2282018Assets 2019: $9,946,363Liabilities 2019: $6,688,413Net Assets 2019: $3,257,9502019Assets 2020: $10,965,255Liabilities 2020: $7,691,838Net Assets 2020: $3,273,4172020Assets 2021: $11,264,494Liabilities 2021: $7,922,866Net Assets 2021: $3,341,6282021

Highlighted filing

2021

Assets$11,264,494
Liabilities$7,922,866
Net Assets$3,341,628
Open 2021 Filing

Operations Trend

Revenue Growth92nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $402,9972010Expenses 2011: $353,5762011Expenses 2012: $364,4152012Revenue 2013: $213,878Expenses 2013: $337,107Net Income 2013: -$123,2292013Revenue 2014: $323,294Expenses 2014: $335,352Net Income 2014: -$12,0582014Revenue 2015: $212,726Expenses 2015: $330,724Net Income 2015: -$117,9982015Revenue 2016: $225,406Expenses 2016: $227,263Net Income 2016: -$1,8572016Revenue 2017: $203,403Expenses 2017: $326,847Net Income 2017: -$123,4442017Revenue 2018: $252,024Expenses 2018: $232,858Net Income 2018: $19,1662018Revenue 2019: $277,076Expenses 2019: $247,354Net Income 2019: $29,7222019Revenue 2020: $253,714Expenses 2020: $238,247Net Income 2020: $15,4672020Revenue 2021: $309,357Expenses 2021: $241,146Net Income 2021: $68,2112021

Highlighted filing

2021

Revenue$309,357
Expenses$241,146
Net Income$68,211
Open 2021 Filing

Filings

Most recent year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,264,494
Liabilities
$7,922,866
Net assets
$3,341,628
Revenue
$309,357
Expenses
$241,146
Net income
$68,211
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$11.3$7.92$3.34$0.31$0.24$0.07
2020Detailed filing. Detailed filing data is available for this year.$11.0$7.69$3.27$0.25$0.24$0.02
2019Detailed filing. Detailed filing data is available for this year.$9.95$6.69$3.26$0.28$0.25$0.03
2018Detailed filing. Detailed filing data is available for this year.$10.4$7.20$3.23$0.25$0.23$0.02
2017Detailed filing. Detailed filing data is available for this year.$10.9$7.74$3.21$0.20$0.33$0.12
2016Detailed filing. Detailed filing data is available for this year.$11.6$8.28$3.32$0.23$0.23$0.00
2015Detailed filing. Detailed filing data is available for this year.$11.7$8.40$3.33$0.21$0.33$0.12
2014Detailed filing. Detailed filing data is available for this year.$11.9$8.47$3.45$0.32$0.34$0.01
2013Detailed filing. Detailed filing data is available for this year.$12.1$8.52$3.61$0.21$0.34$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$8.24$3.63$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.5$7.80$3.66$0.35
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$7.74$3.70$0.40
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 26, 2022
Return Version
2021v4.2
Gross Receipts
$309,357
Mission and Program Overview

Mission

CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,784,872$9,017,235▲ $232,363
Rtn Earn Endowment Incm Other Fnds$3,273,417$3,341,628▲ $68,211
Other Notes and Loans Receivable, Net$1,873,981$2,060,666▲ $186,685
Receivables From Officers Etc$44,195$38,607▼ $5,588
Cash and Non-Interest-Bearing Accounts$141,235$38,217▼ $103,018
Prepaid Expenses and Deferred Charges$17,632$13,265▼ $4,367
Land, Buildings, and Equipment, Net$6,915$4,737▼ $2,178
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$10,965,255$11,264,494▲ $299,239
Other Assets Total$96,425$91,767▼ $4,658
Liabilities
Other Liabilities$7,606,733$7,832,846▲ $226,113
Accounts Payable and Accrued Expenses$85,105$90,020▲ $4,915
Total Liabilities$7,691,838$7,922,866▲ $231,028
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,273,417$3,341,628▲ $68,211
Total Liabilities and Net Assets / Fund Balance$10,965,255$11,264,494▲ $299,239

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,737$178,270$183,007
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Barbara SheehanTreasurer/clerk/directorPT$16,059$16,059
Anthony FantasiaPresident/director-$5,412$5,412
Diane RyanDirector-$3,401$3,401

Board Members and Trustees

NameTitle
William LogueVice President/director
Domenic AroneDirector
Robert MclaughlinDirector
Shane GleasonDirector
Stephen HaggertyDirector
Thomas J TracyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$165,979
Investment Income
$143,033
Other Revenue
$345
Change in Net Assets
$68,211
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$155,220
Other Expenses$85,926
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$92,669--$92,669
Current Officers, Directors, Trustees, and Key Employees$24,871--$24,871
Other Employee Benefits$23,295--$23,295
Fees for Services Accounting$12,000--$12,000
Payroll Taxes$11,082--$11,082
Interest$8,569--$8,569
Information Technology$4,966--$4,966
Pension Plan Contributions$3,303--$3,303
Other Expenses$2,642--$2,642
Depreciation Depletion$2,178--$2,178
Office Expenses$1,912--$1,912
All Other Expenses$812--$812
Total Functional Expenses$241,146$0$0$241,146
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$44,195$38,607▼ $5,588
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposit Accounts$7,832,846
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Conflict-of-interest policy
No
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

“Classes or members or stockholders: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, Section A, Line 7A

“Election of members and their rights: each member has a vote at the election of the board of directors.”

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

“Decisions subject to approval of members: any changes to the incorporating documents, i.e. Bylaws are approved by the membership.”

Form 990, Part VI, Section B, Line 11B

“Organization's process to review form 990: once prepared, the form 990 is presented to the treasurer to review and approve. The return is then presented to the board at the next monthly meeting. Due to the timing of the completion of the return and the board meeting, the return may be filed prior to the entire board's approval.”

Form 990, Part VI, Section B, Line 15

“Line 15a compensation process for top official: the board approves all compensation. Line 15b compensation process for officers: the board approves all compensation. Employee compensation is based on a review of peer credit union compensation amounts. Officers' compensation is reviewed periodically.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation: information is posted in the credit union lobby and available upon request.”

Filing and Contact Details

Filer

Filer Name
Watertown Municipal Credit Union
EIN
04-1950795
Phone
6179240160
Address
149 MAIN STREET, WATERTOWN, MA 02472-4410

Signing Officer

Name
Barbara Sheehan
Title
Treasurer/clerk
Phone
6179240160
Signed
2022-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara Sheehan
Formed
1934
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
6
Volunteers
9

Preparer

Firm
Walsh & Co
Address
31 CHURCH STREET SUITE 2, WINCHESTER, MA 01890
Preparer
Michael J Walsh CPA
Phone
7817210295
Raw XML AppendixShowing 400 of 551 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/PoliticalCampaignActyInd00
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IRS990/ProgramServiceRevenueGrp/Desc0RECOVERY OF LOSS FROM
IRS990/ProgramServiceRevenueGrp/Desc1INTEREST FROM LOANS TO
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd00
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd21
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd31
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd61
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd71
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd81
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd91
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd101
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd141
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd181
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd191
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0AUTO LOAN
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt192000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0DOMENIC ARONE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1ANTHONY FANTASIA
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2SHANE GLEASON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3THOMAS TRACY
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4BARBARA SHEEHAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm5BARBARA SHEEHAN

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