Civic Intelligence

Chicopee Municipal Employees Credit Union

990 • Fiscal year 2014 • EIN 04-2491164

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 02, 2015

Organization ProfileN/A

View Organization Page

923 Front StreetChicopee, MA 01020

(413) 592-5108

Siviq Scores

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

Liabilities / Assets

60th percentile

0.89x

Higher debt load relative to assets than 60% of similar nonprofits.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

34.55x

Higher debt load relative to revenue than 96% of similar nonprofits.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2014

Net Margin

48th percentile

7.0%

Higher net margin than 48% of similar nonprofits.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

35th percentile

$84,844

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2014

Asset Growth

23rd percentile

-1.6%

Faster asset growth than 23% of similar nonprofits.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

16th percentile

-6.4%

Faster revenue growth than 16% of similar nonprofits.

2014 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$46,637,734

Down $755,738 (-1.6%) from 2013

Net Assets

Up

$5,103,612

Up $84,115 (+1.7%) from 2013

Liabilities

Down

$41,534,122

Down $839,853 (-2.0%) from 2013

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin48th percentile

Revenue

Down

$1,202,195

Down $81,974 (-6.4%) from 2013

Expenses

Down

$1,118,080

Down $79,280 (-6.6%) from 2013

Net Income

Down

$84,115

Down $2,694 (-3.1%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$60M$40M$20M$0Assets 2010: $45,206,822Liabilities 2010: $40,527,711Net Assets 2010: $4,679,1112010Assets 2011: $45,414,918Liabilities 2011: $40,618,120Net Assets 2011: $4,796,7982011Assets 2012: $45,342,479Liabilities 2012: $40,409,791Net Assets 2012: $4,932,6882012Assets 2013: $47,393,472Liabilities 2013: $42,373,975Net Assets 2013: $5,019,4972013Assets 2014: $46,637,734Liabilities 2014: $41,534,122Net Assets 2014: $5,103,6122014Assets 2015: $47,764,837Liabilities 2015: $42,670,437Net Assets 2015: $5,094,4002015

Highlighted filing

2014

Assets$46,637,734
Liabilities$41,534,122
Net Assets$5,103,612
Open 2014 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.5M$1.0M$500K$0Expenses 2010: $1,492,3012010Expenses 2011: $1,414,0982011Expenses 2012: $1,288,7272012Revenue 2013: $1,284,169Expenses 2013: $1,197,360Net Income 2013: $86,8092013Revenue 2014: $1,202,195Expenses 2014: $1,118,080Net Income 2014: $84,1152014Revenue 2015: $1,147,693Expenses 2015: $1,115,847Net Income 2015: $31,8462015

Highlighted filing

2014

Revenue$1,202,195
Expenses$1,118,080
Net Income$84,115
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 2, 2015
Return Version
2014v5.0
Gross Receipts
$1,202,195
Mission and Program Overview

Mission

Credit union - thrift services

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$31,648,810$30,185,348▼ $1,463,462
Other Notes and Loans Receivable, Net$8,651,912$8,905,824▲ $253,912
Investments in Publicly Traded Securities$5,017,689$5,293,833▲ $276,144
Rtn Earn Endowment Incm Other Fnds$5,019,497$5,103,612▲ $84,115
Cash and Non-Interest-Bearing Accounts$623,641$738,222▲ $114,581
Land, Buildings, and Equipment, Net$432,979$514,989▲ $82,010
Receivables From Officers Etc$481,096$452,550▼ $28,546
Prepaid Expenses and Deferred Charges$38,769$30,829▼ $7,940
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$47,393,472$46,637,734▼ $755,738
Other Assets Total$498,576$516,139▲ $17,563
Liabilities
Other Liabilities$42,247,050$41,343,493▼ $903,557
Escrow Account Liability$121,560$143,622▲ $22,062
Accounts Payable and Accrued Expenses$5,365$47,007▲ $41,642
Total Liabilities$42,373,975$41,534,122▼ $839,853
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,019,497$5,103,612▲ $84,115
Total Liabilities and Net Assets / Fund Balance$47,393,472$46,637,734▼ $755,738

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$121,160$622,847$744,007
Buildings$287,105$450,209$737,314
Land$101,666-$101,666
Leasehold Improvements$5,058$28,980$34,038
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kenneth a ChampeauPresident & CEOFT$72,587$12,257$84,844
Laurie ManciniSr.loan OfficerFT$40,265$17,215$57,480

Board Members and Trustees

NameTitle
Carole J HarmsChairman
Edward Czepiel JrVice Chair
Christopher GolbaDirector
Ernest Laflamme IiiDirector
Ernest Laflamme JrDirector
Frank BoronDirector
Gregory PietrasDirector
Jennifer WolowiczDirector
Shawn HemingwayDirector
William LynchDirector
MARGARET O'KEEFEAccount Officer
Paul MorinAsst. Treasurer
Sandra StasiowskiClerk
John RyanMembership Offi
Robert J ZygarowskiSecurityOfficer
Carmino DanieleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$525,045
Investment Income
$564,279
Other Revenue
$112,871
Change in Net Assets
$84,115
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$558,673
Salaries, Compensation, and Employee Benefits$556,907
Grants and Similar Amounts Paid$2,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$259,556-$259,556
Current Officers, Directors, Trustees, and Key Employees-$142,323-$142,323
Interest$134,497--$134,497
Information Technology-$129,196-$129,196
Other Employee Benefits-$85,696-$85,696
Occupancy-$48,234-$48,234
Depreciation Depletion-$42,228-$42,228
Pension Plan Contributions-$39,528-$39,528
All Other Expenses-$39,262-$39,262
Office Expenses-$35,562-$35,562
Payroll Taxes-$29,804-$29,804
Fees for Services Accounting-$14,400-$14,400
Other Expenses-$10,674-$10,674
Insurance-$9,803-$9,803
Advertising-$4,459-$4,459
Grants to Domestic Individuals$2,500--$2,500
Fees for Services Legal-$1,620-$1,620
Total Functional Expenses$136,997$981,083$0$1,118,080
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Director SonLandscaping/maint.No$9,950
Frank LaflammeSon and BrotherSnow RemovalNo$2,435

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$481,096$452,550▼ $28,546
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposit Accounts$41,342,864
Other Liabilities$629
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Frank laflamme is the son of ernest laflamme iii and brother to director ernest laflamme jr. Frank is the maintenance manager of the credit union (landscaping and cleaning). The owner of n. Riley construction is the son of director laflamme iii and the brother to director laflamme. N. Riley construction does snow removal and sanding for the credit union.”

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 form 990 was presented for approval at the july 17, 2014 board meeting.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“An annual ethics compliance statement must be signed by all employees, officers and directors.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Determined by the personnel committee and then brought to the board for approval.”

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

“Determined by the personnel committee and then brought to the board for approval.”

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

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

Filing and Contact Details

Filer

Filer Name
Chicopee Municipal Employees
EIN
04-2491164
Phone
4135925108
Address
923 FRONT STREET, CHICOPEE, MA 01020

Signing Officer

Name
Kenneth a Champeau
Title
President & CEO
Signed
2015-06-02
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
15
Employees
10
Volunteers
15

Preparer

Firm
Robert Anderson & Company Pc
Address
138 DODGE ST, BEVERLY, MA 01915-1866
Preparer
Robert Anderson
Phone
9782329300
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

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

Raw XML AppendixShowing 400 of 629 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/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Asst. Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBERSHIP OFFI
IRS990/Form990PartVIISectionAGrp/TitleTxt12Clerk
IRS990/Form990PartVIISectionAGrp/TitleTxt13SecurityOfficer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15ACCOUNT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt16President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt17SR.LOAN OFFICER
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IRS990/GamingActivitiesInd0false
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IRS990/GrantsToOrganizationsInd0false
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IRS990/LandBldgEquipCostOrOtherBssAmt01617025
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IRS990/LoanOutstandingInd0true
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt03515
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NondeductibleContributionsInd0false
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IRS990/OccupancyGrp/TotalAmt048234
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt035562
IRS990/OfficeExpensesGrp/TotalAmt035562
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0498576
IRS990/OtherAssetsTotalGrp/EOYAmt0516139
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt085696
IRS990/OtherEmployeeBenefitsGrp/TotalAmt085696
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IRS990/OtherExpensesGrp/Desc1Postage and Shipping
IRS990/OtherExpensesGrp/Desc2LOAN SERVICING
IRS990/OtherExpensesGrp/Desc3STATEMENT RENDERING
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt128981
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt215132
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt310674
IRS990/OtherExpensesGrp/TotalAmt044625
IRS990/OtherExpensesGrp/TotalAmt128981
IRS990/OtherExpensesGrp/TotalAmt215132
IRS990/OtherExpensesGrp/TotalAmt310674
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IRS990/OtherLiabilitiesGrp/EOYAmt041343493
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IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0MEMBER ATM FEES
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/Desc2SERVICE CHARGES AND FEES
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt19198
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt233235
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt19198
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt233235
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt08905824
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IRS990/PayrollTaxesGrp/TotalAmt029804
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt039528
IRS990/PensionPlanContributionsGrp/TotalAmt039528
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt030829
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0525045
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt02500
IRS990/PYInvestmentIncomeAmt0612908
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0597556
IRS990/PYOtherRevenueAmt0126523
IRS990/PYProgramServiceRevenueAmt0544738
IRS990/PYRevenuesLessExpensesAmt086809
IRS990/PYSalariesCompEmpBnftPaidAmt0597304
IRS990/PYTotalExpensesAmt01197360
IRS990/PYTotalRevenueAmt01284169
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0481096
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt0452550
IRS990/ReconcilationRevenueExpnssAmt084115
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05019497
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt05103612
IRS990/SavingsAndTempCashInvstGrp/BOYAmt031648810
IRS990/SavingsAndTempCashInvstGrp/EOYAmt030185348
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$46,637,734
Liabilities
$41,534,122
Net assets
$5,103,612
Revenue
$1,202,195
Expenses
$1,118,080
Net income
$84,115
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$47.8$42.7$5.09$1.15$1.12$0.03
2014Detailed filing. Detailed filing data is available for this year.$46.6$41.5$5.10$1.20$1.12$0.08
2013Detailed filing. Detailed filing data is available for this year.$47.4$42.4$5.02$1.28$1.20$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.3$40.4$4.93$1.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.4$40.6$4.80$1.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.2$40.5$4.68$1.49