Civic Intelligence

Lynn Police Credit Union

EIN 04-2025425 • 501(c)14 • Lynn, MA

Profile

Credit union - thrift services

300 Washington StreetLynn, MA 01901

n/A

Siviq Scores

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

Liabilities / Assets

15th percentile

0.72x

Higher debt load relative to assets than 15% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

20.89x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Net Margin

54th percentile

9.3%

Higher net margin than 54% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$31,276

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 8.8% of source-year revenue.

501(c)14 • $10M-$25M nonprofits • Source year 2024

Asset Growth

27th percentile

-3.4%

Faster asset growth than 27% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

96th percentile

27%

Faster revenue growth than 96% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$10,345,415

Down $367,477 (-3.4%) from 2023

Liabilities

Down

$7,461,667

Down $468,376 (-5.9%) from 2023

Net Assets

Up

$2,883,748

Up $100,899 (+3.6%) from 2023

Operations
Liabilities / Revenue78th percentileNet Margin54th percentile

Revenue

Up

$357,248

Up $76,130 (+27%) from 2023

Expenses

Up

$324,134

Up $59,055 (+22%) from 2023

Net Income

Up

$33,114

Up $17,075 (+106%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth27th percentile

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

$15M$10M$5.0M$0Assets 2010: $12,525,964Liabilities 2010: $10,022,267Net Assets 2010: $2,503,6972010Assets 2011: $12,445,836Liabilities 2011: $9,910,966Net Assets 2011: $2,534,8702011Assets 2012: $12,191,530Liabilities 2012: $9,656,147Net Assets 2012: $2,535,3832012Assets 2013: $12,280,858Liabilities 2013: $9,739,932Net Assets 2013: $2,540,9262013Assets 2014: $12,117,804Liabilities 2014: $9,565,760Net Assets 2014: $2,552,0442014Assets 2015: $11,901,611Liabilities 2015: $9,333,250Net Assets 2015: $2,568,3612015Assets 2016: $11,783,507Liabilities 2016: $9,133,965Net Assets 2016: $2,649,5422016Assets 2017: $12,058,760Liabilities 2017: $9,391,783Net Assets 2017: $2,666,9772017Assets 2018: $12,183,362Liabilities 2018: $9,438,551Net Assets 2018: $2,744,8112018Assets 2019: $11,381,365Liabilities 2019: $8,514,619Net Assets 2019: $2,866,7462019Assets 2020: $12,225,669Liabilities 2020: $9,319,095Net Assets 2020: $2,906,5742020Assets 2021: $12,604,621Liabilities 2021: $9,655,951Net Assets 2021: $2,948,6702021Assets 2022: $11,934,340Liabilities 2022: $9,186,090Net Assets 2022: $2,748,2502022Assets 2023: $10,712,892Liabilities 2023: $7,930,043Net Assets 2023: $2,782,8492023Assets 2024: $10,345,415Liabilities 2024: $7,461,667Net Assets 2024: $2,883,7482024

Highlighted filing

2024

Assets$10,345,415
Liabilities$7,461,667
Net Assets$2,883,748
Open 2024 Filing

Operations Trend

Revenue Growth96th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $408,8652010Expenses 2011: $404,1152011Expenses 2012: $381,4592012Revenue 2013: $327,488Expenses 2013: $303,718Net Income 2013: $23,7702013Revenue 2014: $266,016Expenses 2014: $253,666Net Income 2014: $12,3502014Revenue 2015: $267,274Expenses 2015: $249,353Net Income 2015: $17,9212015Revenue 2016: $263,910Expenses 2016: $178,194Net Income 2016: $85,7162016Revenue 2017: $273,795Expenses 2017: $256,217Net Income 2017: $17,5782017Revenue 2018: $326,227Expenses 2018: $248,078Net Income 2018: $78,1492018Revenue 2019: $330,306Expenses 2019: $233,618Net Income 2019: $96,6882019Revenue 2020: $295,884Expenses 2020: $270,082Net Income 2020: $25,8022020Revenue 2021: $244,658Expenses 2021: $252,028Net Income 2021: -$7,3702021Revenue 2022: $232,462Expenses 2022: $224,372Net Income 2022: $8,0902022Revenue 2023: $281,118Expenses 2023: $265,079Net Income 2023: $16,0392023Revenue 2024: $357,248Expenses 2024: $324,134Net Income 2024: $33,1142024

Highlighted filing

2024

Revenue$357,248
Expenses$324,134
Net Income$33,114
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,345,415
Liabilities
$7,461,667
Net assets
$2,883,748
Revenue
$357,248
Expenses
$324,134
Net income
$33,114
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.3$7.46$2.88$0.36$0.32$0.03
2023Detailed filing. Detailed filing data is available for this year.$10.7$7.93$2.78$0.28$0.27$0.02
2022Detailed filing. Detailed filing data is available for this year.$11.9$9.19$2.75$0.23$0.22$0.01
2021Detailed filing. Detailed filing data is available for this year.$12.6$9.66$2.95$0.24$0.25$0.01
2020Detailed filing. Detailed filing data is available for this year.$12.2$9.32$2.91$0.30$0.27$0.03
2019Detailed filing. Detailed filing data is available for this year.$11.4$8.51$2.87$0.33$0.23$0.10
2018Detailed filing. Detailed filing data is available for this year.$12.2$9.44$2.74$0.33$0.25$0.08
2017Detailed filing. Detailed filing data is available for this year.$12.1$9.39$2.67$0.27$0.26$0.02
2016Detailed filing. Detailed filing data is available for this year.$11.8$9.13$2.65$0.26$0.18$0.09
2015Detailed filing. Detailed filing data is available for this year.$11.9$9.33$2.57$0.27$0.25$0.02
2014Detailed filing. Detailed filing data is available for this year.$12.1$9.57$2.55$0.27$0.25$0.01
2013Detailed filing. Detailed filing data is available for this year.$12.3$9.74$2.54$0.33$0.30$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.2$9.66$2.54$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$9.91$2.53$0.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$10.0$2.50$0.41
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 23, 2025
Return Version
2024v5.0
Gross Receipts
$357,248
Mission and Program Overview

Mission

Credit union - thrift services

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,411,441$4,682,867▲ $271,426
Savings and Temporary Cash Investments$5,315,823$3,749,836▼ $1,565,987
Rtn Earn Endowment Incm Other Fnds$2,782,849$2,883,748▲ $100,899
Cash and Non-Interest-Bearing Accounts$124,448$1,011,122▲ $886,674
Investments in Publicly Traded Securities$683,831$740,903▲ $57,072
Prepaid Expenses and Deferred Charges$11,561$17,268▲ $5,707
Land, Buildings, and Equipment, Net$1,052$228▼ $824
Total Assets$10,712,892$10,345,415▼ $367,477
Other Assets Total$164,736$143,191▼ $21,545
Liabilities
Other Liabilities$7,923,013$7,453,959▼ $469,054
Accounts Payable and Accrued Expenses$7,030$7,708▲ $678
Total Liabilities$7,930,043$7,461,667▼ $468,376
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,782,849$2,883,748▲ $100,899
Total Liabilities and Net Assets / Fund Balance$10,712,892$10,345,415▼ $367,477

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$228$2,678$2,906
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Christopher P ReddyAssistant TrPT$31,276$31,276
Kevin CoppingerTreasurerPT$31,276$31,276
Edward ShinnickOps Manager-$21,580$21,580
Richard CarrowPresident-$13,530$13,530
Thomas N ReddyVice PresidePT$8,600$8,600
MARK O'TOOLEClerkPT$3,500$3,500

Board Members and Trustees

NameTitle
Christopher KellyDirector
Grace McmanusDirector
Lawrence WentzellDirector
Thomas McdermottDirector
Michael VailIt Officer
Michael KelterSecurity Off
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$236,152
Investment Income
$121,096
Other Revenue
$0
Change in Net Assets
$33,114

Audited Revenue Reconciliation

Revenue per Audited Statements
$357,248
Total Revenue per Audited Statements
$357,248
Total Revenue per Form 990
$357,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$204,088
Salaries, Compensation, and Employee Benefits$120,046
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$109,762
Interest---$95,331
Fees for Services Accounting---$13,567
Payroll Taxes---$9,484
Insurance---$5,371
Office Expenses---$3,942
All Other Expenses---$3,682
Other Expenses---$3,503
Depreciation Depletion---$824
Other Salaries and Wages---$800
Total Functional Expenses$0$0$0$324,134

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$324,134
Total Expenses per Audited Statements$324,134
Total Expenses per Form 990$324,134
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
Member Share and Deposit Accounts$7,453,959
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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, Page 6, Part VI, Line 2

“Thomas reddy christopher reddy director director brothers”

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

“Each 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 990 documents are presented to the members of the board for review and discussion.”

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

“Compensation for all employees is discussed at an annual directors meeting and voted upon by the board.”

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

“Compensation for all employees is discussed at an annual directors meeting and voted upon by the board.”

Form 990, Page 6, Part VI, Line 19

“All policies and financial statements are available for public review at the credit union.”

Filing and Contact Details

Filer

Filer Name
Lynn Police Credit Union
EIN
04-2025425
Phone
7815952000
Address
300 WASHINGTON STREET, LYNN, MA 01901

Signing Officer

Name
Christopher P Reddy
Title
Assistant Treasurer
Phone
7815952000
Signed
2025-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher P Reddy
Formed
1945
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
4
Employees
6
Volunteers
4

Preparer

Firm
Mystic Accounting Group Llp
Address
PO BOX 397, MYSTIC, CT 06355
Preparer
Theodoros Poulopoulos
Phone
8605361040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The credit union follows fasb accounting standards codification 740-10, accounting for uncertainties in income taxes, and has evaluated its tax positions taken for all open years and has determined that there are no uncertain tax positions that qualify for either recognition or disclosure.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THOMAS REDDY CHRISTOPHER REDDY DIRECTOR DIRECTOR BROTHERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PERSONS WHO MEET THE REQUIREMENTS OF THE ORGANIZATION'S FIELD OF MEMBERSHIP WHO HOLD AT LEAST ONE SHARE OF THE CAPITAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER HAS A VOTE AT THE ELECTION OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY CHANGES TO THE INCORPORATING DOCUMENTS, I.E. BYLAWS ARE APPROVED BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 990 DOCUMENTS ARE PRESENTED TO THE MEMBERS OF THE BOARD FOR REVIEW AND DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION FOR ALL EMPLOYEES IS DISCUSSED AT AN ANNUAL DIRECTORS MEETING AND VOTED UPON BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION FOR ALL EMPLOYEES IS DISCUSSED AT AN ANNUAL DIRECTORS MEETING AND VOTED UPON BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALL POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW AT THE CREDIT UNION.
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PhoneNum07815952000
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LYNN POLICE CREDIT UNION
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THEODOROS POULOPOULOS
ReturnHeader/ReturnTs02025-07-23T09:15:41-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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