Civic Intelligence

Newton Municipal Credit Union

990 • Fiscal year 2013 • EIN 04-2074661

Jan 01, 2013 to Dec 31, 2013 • Filed on Apr 25, 2014

Organization ProfileN/A
1000 Commonwealth Avenue02459

(617) 796-1320

Siviq Scores

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

Liabilities / Assets

14th percentile

0.76x

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

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

100th percentile

54.31x

Higher debt load relative to revenue than 100% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Net Margin

1st percentile

-52%

Higher net margin than 1% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

15th percentile

$33,020

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 21.7% of source-year revenue.

2013 filings • 501(c)14 • $10M-$25M nonprofits • Source year 2013

Asset Growth

25th percentile

-1.6%

Faster asset growth than 25% of similar nonprofits.

2013 filings • 501(c)14 • $10M-$25M 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 / Assets14th percentile

Assets

Down

$10,815,466

Down $174,930 (-1.6%) from 2012

Net Assets

Down

$2,548,807

Down $78,549 (-3.0%) from 2012

Liabilities

Down

$8,266,659

Down $96,381 (-1.2%) from 2012

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$152,203

No earlier filing loaded for comparison.

Expenses

Up

$230,752

Up $52,865 (+30%) from 2012

Net Income

-$78,549

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$15M$10M$5.0M$0Assets 2010: $10,789,272Liabilities 2010: $8,134,939Net Assets 2010: $2,654,3332010Assets 2011: $10,894,417Liabilities 2011: $8,252,745Net Assets 2011: $2,641,6722011Assets 2012: $10,990,396Liabilities 2012: $8,363,040Net Assets 2012: $2,627,3562012Assets 2013: $10,815,466Liabilities 2013: $8,266,659Net Assets 2013: $2,548,8072013

Highlighted filing

2013

Assets$10,815,466
Liabilities$8,266,659
Net Assets$2,548,807
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KExpenses 2010: $200,0842010Expenses 2011: $194,9292011Expenses 2012: $177,8872012Revenue 2013: $152,203Expenses 2013: $230,752Net Income 2013: -$78,5492013

Highlighted filing

2013

Revenue$152,203
Expenses$230,752
Net Income-$78,549
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Apr 25, 2014
Return Version
2013v3.1
Gross Receipts
$152,203
Mission and Program Overview

Mission

CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$6,048,933$7,267,826▲ $1,218,893
Rtn Earn Endowment Incm Other Fnds$2,627,356$2,548,807▼ $78,549
Other Notes and Loans Receivable, Net$1,578,955$1,467,242▼ $111,713
Investments in Publicly Traded Securities$2,221,282$1,002,926▼ $1,218,356
Cash and Non-Interest-Bearing Accounts$1,058,699$993,842▼ $64,857
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$10,990,396$10,815,466▼ $174,930
Other Assets Total$82,527$83,630▲ $1,103
Liabilities
Other Liabilities$8,363,040$8,266,659▼ $96,381
Total Liabilities$8,363,040$8,266,659▼ $96,381
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,627,356$2,548,807▼ $78,549
Total Liabilities and Net Assets / Fund Balance$10,990,396$10,815,466▼ $174,930

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$34,502-
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brenda L BoudreauAsst. TreasurerPT$33,020$33,020
George W Stiglich JrTreasurerPT$31,296$31,296

Board Members and Trustees

NameTitle
Donald GentilePresident
John J Babcock1st VICE CHAIR
RICHARD W McLEAN2nd VICE CHAIR
Ann Marie DaleyDirector
James R MulaDirector
John J VieiraDirector
John PanicaDirector
Lee CaramanicaDirector
Paul CanneyDirector
Robert a HuntDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$133,311
Investment Income
$18,892
Other Revenue
$0
Change in Net Assets
$-78,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$161,104
Salaries, Compensation, and Employee Benefits$69,648
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-$64,316-$64,316
Fees for Services Legal-$64,067-$64,067
Office Expenses-$22,453-$22,453
Interest$16,338--$16,338
Insurance-$11,704-$11,704
All Other Expenses-$7,696-$7,696
Fees for Services Accounting-$5,932-$5,932
Payroll Taxes-$5,332-$5,332
Other Expenses-$4,310-$4,310
Total Functional Expenses$16,338$214,414$0$230,752
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Share and Deposit Accounts$8,266,659
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
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

“The board reviews the form 990 after it is filed and the approval is noted in the meeting minutes. Due to the timing of when the return and completed and the filing due date, the return may be reviewed by the board subsequent to filing.”

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

“In november of each year a salary committee (of 3 persons) is appointed by the president/ceo and given the pay data history. They discuss the factors involved and present their recommendations to the board at the first directors' meeting after the shareholders' meeting. After any discussion, the board sets votes the salaries for the ensuing year. The results are based upon performance, economic conditions, and data from the industry.”

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

“Information is at the credit union and available upon request.”

Filing and Contact Details

Filer

EIN
04-2074661
Phone
6177961320

Signing Officer

Name
George W Stiglich Jr
Title
Treasurer
Signed
2014-04-25
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
11
Independent Board Members
10
Employees
2
Volunteers
10

Preparer

Preparer
Robert Anderson
Phone
9782329300
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0113792
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt119519
IRS990/ProgSrvcAccomActy2Grp/Desc0MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF ACCOUNTS IS 237.
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0113792
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt046085
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt084227
IRS990/PYProgramServiceRevenueAmt0117486
IRS990/PYRevenuesLessExpensesAmt0-14316
IRS990/PYSalariesCompEmpBnftPaidAmt093660
IRS990/PYTotalExpensesAmt0177887
IRS990/PYTotalRevenueAmt0163571
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-78549
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02627356
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02548807
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06048933
IRS990/SavingsAndTempCashInvstGrp/EOYAmt07267826
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt034502
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt034502
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08266659
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBERS SHARE AND DEPOSIT ACCOUNTS
IRS990ScheduleD/TotalLiabilityAmt08266659
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Persons who meet the requirements of the organization's field of membership who hold at least one share of the capital.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE FORM 990 AFTER IT IS FILED AND THE APPROVAL IS NOTED IN THE MEETING MINUTES. DUE TO THE TIMING OF WHEN THE RETURN AND COMPLETED AND THE FILING DUE DATE, THE RETURN MAY BE REVIEWED BY THE BOARD SUBSEQUENT TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN NOVEMBER OF EACH YEAR A SALARY COMMITTEE (OF 3 PERSONS) IS APPOINTED BY THE PRESIDENT/CEO AND GIVEN THE PAY DATA HISTORY. THEY DISCUSS THE FACTORS INVOLVED AND PRESENT THEIR RECOMMENDATIONS TO THE BOARD AT THE FIRST DIRECTORS' MEETING AFTER THE SHAREHOLDERS' MEETING. AFTER ANY DISCUSSION, THE BOARD SETS VOTES THE SALARIES FOR THE ENSUING YEAR. THE RESULTS ARE BASED UPON PERFORMANCE, ECONOMIC CONDITIONS, AND DATA FROM THE INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Information is at the credit union and available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt010990396
IRS990/TotalAssetsEOYAmt010815466
IRS990/TotalAssetsGrp/BOYAmt010990396
IRS990/TotalAssetsGrp/EOYAmt010815466
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0214414
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt016338
IRS990/TotalFunctionalExpensesGrp/TotalAmt0230752
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08363040
IRS990/TotalLiabilitiesEOYAmt08266659
IRS990/TotalLiabilitiesGrp/BOYAmt08363040
IRS990/TotalLiabilitiesGrp/EOYAmt08266659
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02627356
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02548807
IRS990/TotalProgramServiceExpensesAmt016338
IRS990/TotalProgramServiceRevenueAmt0133311
IRS990/TotalReportableCompFromOrgAmt064316
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0152203
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152203
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010990396
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010815466
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE W STIGLICH JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine10NEWTON MUNICIPAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0NEWT
ReturnHeader/Filer/EIN0042074661
ReturnHeader/Filer/PhoneNum06177961320
ReturnHeader/Filer/USAddress/AddressLine101000 COMMONWEALTH AVENUE
ReturnHeader/Filer/USAddress/City0NEWTON
ReturnHeader/Filer/USAddress/State0MA
ReturnHeader/Filer/USAddress/ZIPCode002459
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10ROBERT ANDERSON & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10138 DODGE ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0BEVERLY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0019151866
ReturnHeader/PreparerPersonGrp/PhoneNum09782329300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert Anderson
ReturnHeader/ReturnTs02014-04-25T08:46:15-07:00
ReturnHeader/ReturnTypeCd0990

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$10,815,466
Liabilities
$8,266,659
Net assets
$2,548,807
Revenue
$152,203
Expenses
$230,752
Net income
-$78,549
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Detailed filing. Detailed filing data is available for this year.$10.8$8.27$2.55$0.15$0.23$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$8.36$2.63$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$8.25$2.64$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$8.13$2.65$0.20