Civic Intelligence

Gloucester Fire Department Credit Union

990 • Fiscal year 2019 • EIN 04-2305850

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 22, 2020

Organization ProfileN/A
8 School StreetGloucester, MA 01930-3529

(978) 281-9760

Siviq Scores

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

Liabilities / Assets

91st percentile

0.63x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

10.48x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • $500k-$1M nonprofits • Source year 2019

Net Margin

66th percentile

12%

Higher net margin than 66% of similar nonprofits.

2019 filings • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

64th percentile

$14,400

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 42.1% of source-year revenue.

2019 filings • $500k-$1M nonprofits • Source year 2019

Asset Growth

66th percentile

8.2%

Faster asset growth than 66% of similar nonprofits.

2019 filings • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

71st percentile

17%

Faster revenue growth than 71% of similar nonprofits.

2019 filings • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$569,347

Up $43,316 (+8.2%) from 2018

Net Assets

Up

$211,037

Up $4,056 (+2.0%) from 2018

Liabilities

Up

$358,310

Up $39,260 (+12%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin66th percentile

Revenue

Up

$34,186

Up $5,084 (+17%) from 2018

Expenses

Up

$30,130

Up $2,438 (+8.8%) from 2018

Net Income

Up

$4,056

Up $2,646 (+188%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$800K$600K$400K$200K$0Assets 2010: $520,792Liabilities 2010: $358,986Net Assets 2010: $161,8062010Assets 2011: $517,838Liabilities 2011: $347,182Net Assets 2011: $170,6562011Assets 2012: $526,954Liabilities 2012: $346,482Net Assets 2012: $180,4722012Assets 2013: $521,196Liabilities 2013: $333,395Net Assets 2013: $187,8012013Assets 2014: $515,637Liabilities 2014: $321,768Net Assets 2014: $193,8692014Assets 2015: $527,597Liabilities 2015: $329,258Net Assets 2015: $198,3392015Assets 2016: $503,426Liabilities 2016: $300,326Net Assets 2016: $203,1002016Assets 2017: $490,884Liabilities 2017: $285,338Net Assets 2017: $205,5462017Assets 2018: $526,031Liabilities 2018: $319,050Net Assets 2018: $206,9812018Assets 2019: $569,347Liabilities 2019: $358,310Net Assets 2019: $211,0372019Assets 2020: $654,697Liabilities 2020: $442,485Net Assets 2020: $212,2122020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2019

Assets$569,347
Liabilities$358,310
Net Assets$211,037
Open 2019 Filing

Operations Trend

Revenue Growth71st percentile

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

$40K$20K$0-$20KExpenses 2010: $24,0152010Expenses 2011: $21,5752011Expenses 2012: $21,4672012Revenue 2013: $28,117Expenses 2013: $20,788Net Income 2013: $7,3292013Revenue 2014: $26,315Expenses 2014: $20,247Net Income 2014: $6,0682014Revenue 2015: $26,010Expenses 2015: $19,715Net Income 2015: $6,2952015Revenue 2016: $30,497Expenses 2016: $25,736Net Income 2016: $4,7612016Revenue 2017: $29,734Expenses 2017: $24,097Net Income 2017: $5,6372017Revenue 2018: $29,102Expenses 2018: $27,692Net Income 2018: $1,4102018Revenue 2019: $34,186Expenses 2019: $30,130Net Income 2019: $4,0562019Revenue 2020: $32,693Expenses 2020: $31,518Net Income 2020: $1,1752020Revenue 2021: $23,682Expenses 2021: $31,525Net Income 2021: -$7,8432021

Highlighted filing

2019

Revenue$34,186
Expenses$30,130
Net Income$4,056
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 22, 2020
Return Version
2019v5.0
Gross Receipts
$34,186
Mission and Program Overview

Mission

CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$211,934$215,805▲ $3,871
Savings and Temporary Cash Investments$209,105$213,375▲ $4,270
Rtn Earn Endowment Incm Other Fnds$206,981$211,037▲ $4,056
Receivables From Officers Etc$78,456$93,873▲ $15,417
Cash and Non-Interest-Bearing Accounts$20,631$39,139▲ $18,508
Prepaid Expenses and Deferred Charges$2,256$2,253▼ $3
Land, Buildings, and Equipment, Net$800$1,751▲ $951
Total Assets$526,031$569,347▲ $43,316
Other Assets Total$2,849$3,151▲ $302
Liabilities
Other Liabilities$315,143$357,405▲ $42,262
Accounts Payable and Accrued Expenses$3,907$905▼ $3,002
Total Liabilities$319,050$358,310▲ $39,260
Net Assets / Fund Balance
Total Net Assets Fund Balance$206,981$211,037▲ $4,056
Total Liabilities and Net Assets / Fund Balance$526,031$569,347▲ $43,316

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,751$12,147$13,898
Other Land Buildings-$2,242$2,242
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleBaseTotal
Susan DellacroceTreasurer$14,400$14,400

Board Members and Trustees

NameTitle
Dean DecostePresident
Richard CusickVice Chairpe
Alison DemeuleBoard Member
Andrew LyonsBoard Member
Glen AsaroBoard Member
James Hannon IiiBoard Member
Joseph AielloBoard Member
Kevin GarganBoard Member
Michael MitchellBoard Member
Michael ShulmanBoard Member
Robert RivasBoard Member
William DoucetteBoard Member
Thomas AielloClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,856
Investment Income
$4,269
Other Revenue
$61
Change in Net Assets
$4,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,750
Other Expenses$14,380
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---$14,400
Fees for Services Accounting---$4,856
Depreciation Depletion---$2,305
Interest---$2,254
Insurance---$1,619
Payroll Taxes---$1,350
Other Expenses---$311
All Other Expenses---$296
Total Functional Expenses$0$0$0$30,130
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$78,456$93,873▲ $15,417
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
MEMBERS' SHARE AND DEPOSIT ACCOUNTS$357,405
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
No
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, Page 6, Part VI, Line 2

“Director tom and joe aiello 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 11B

“The treasurer will review the return and present to the board at the next board meeting. Due to the timing of the filing due date and the date of the next board meeting, the form 990 may be reviewed subsequent to filing.”

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

“The treasurer's compensation is subject to review and and board approval.”

Form 990, Page 6, Part VI, Line 18

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

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Gloucester Fire Department
EIN
04-2305850
Phone
9782819760
Address
8 SCHOOL STREET, GLOUCESTER, MA 01930-3529

Signing Officer

Name
Susan Dellacroce
Title
Treasurer
Phone
9782819760
Signed
2020-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Dellacroce
Formed
1938
Legal Domicile
Ma
Voting Board Members
14
Independent Board Members
13
Employees
1
Volunteers
13

Preparer

Firm
Garvey Steele & Bancroft Llp
Address
PO BOX 397, MYSTIC, CT 06355-0397
Preparer
Nanette a Bancroft CPA
Phone
8605369831
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd5X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd6X
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd12X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0UNSECURED
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1USED AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2NEW AUTO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3LOAN SPECIAL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4UNSECURED
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt315000
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt76000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt85000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt93000
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt114500
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1210000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0ALISON DEMEULE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1SUSAN DELLACROCE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2ROBERT RIVAS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3DEAN DECOSTE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4MICHAEL MITCHELL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm5RICHARD CUSACK
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm6DEAN DECOSTE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm7SUSAN DELLACROCE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm8SUSAN DELLACROCE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm9RICHARD CUSICK
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm10JOSEPH AIELLO
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm11DEAN DECOSTE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm12MICHAEL SHULMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt5DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt6DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt7DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt8DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt9DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt10DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt11DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt12DIRECTOR
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0JOSEPH AIELLO FROM 25,957 2,370 NEW AUTO ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT DEAN DECOSTE FROM 4,500 2,323 LOAN SPECIAL ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT MICHAEL SHULMAN FROM 10,000 182 UNSECURED ( ) IN DEFAULT (X) APPROVED BY BOARD/COMMITTEE (X) WRITTEN AGREEMENT
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART II
IRS990ScheduleL/TotalBalanceDueAmt093873
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DIRECTOR TOM AND JOE AIELLO 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/ExplanationTxt3THE TREASURER WILL REVIEW THE RETURN AND PRESENT TO THE BOARD AT THE NEXT BOARD MEETING. DUE TO THE TIMING OF THE FILING DUE DATE AND THE DATE OF THE NEXT BOARD MEETING, THE FORM 990 MAY BE REVIEWED SUBSEQUENT TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TREASURER'S COMPENSATION IS SUBJECT TO REVIEW AND AND BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INFORMATION IS POSTED IN THE CREDIT UNION LOBBY AND AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INFORMATION IS POSTED IN THE CREDIT UNION LOBBY AND AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$569,347
Liabilities
$358,310
Net assets
$211,037
Revenue
$34,186
Expenses
$30,130
Net income
$4,056
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.24$0.32$0.08
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$6.55$4.42$2.12$0.33$0.32$0.01
2019Detailed filing. Detailed filing data is available for this year.$5.69$3.58$2.11$0.34$0.30$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.26$3.19$2.07$0.29$0.28$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.91$2.85$2.06$0.30$0.24$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.03$3.00$2.03$0.30$0.26$0.05
2015Detailed filing. Detailed filing data is available for this year.$5.28$3.29$1.98$0.26$0.20$0.06
2014Detailed filing. Detailed filing data is available for this year.$5.16$3.22$1.94$0.26$0.20$0.06
2013Detailed filing. Detailed filing data is available for this year.$5.21$3.33$1.88$0.28$0.21$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.27$3.46$1.80$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.18$3.47$1.71$0.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.21$3.59$1.62$0.24
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)14 • $500k-$1M nonprofits