Civic Intelligence

Sikorsky Financial Credit Union

EIN 06-0634736 • 501(c)14 • Stratford, CT

Profile

Sikorsky financial credit union is committed to act in the best interest of its membership. Our mission is to make a difference in the lives of connecticut residents in fairfield, new haven, and hartford counties.

1000 Oronoque LaneStratford, CT 06614

www.sikorskyfcu.org

Siviq Scores

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

Liabilities / Assets

15th percentile

0.88x

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

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

17.78x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

89th percentile

20%

Higher net margin than 89% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$1,216,072

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

501(c)14 • $1B+ nonprofits • Source year 2024

Asset Growth

52nd percentile

3.3%

Faster asset growth than 52% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

11%

Faster revenue growth than 28% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,305,923,917

Up $42,284,066 (+3.3%) from 2023

Liabilities

Up

$1,149,247,088

Up $28,472,313 (+2.5%) from 2023

Net Assets

Up

$156,676,829

Up $13,811,753 (+9.7%) from 2023

Revenue

Up

$64,640,697

Up $6,321,943 (+11%) from 2023

Expenses

Up

$51,952,169

Up $11,799,235 (+29%) from 2023

Net Income

Down

$12,688,528

Down $5,477,292 (-30%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $596,569,402Liabilities 2010: $533,797,402Net Assets 2010: $62,772,0002010Assets 2011: $642,764,039Liabilities 2011: $573,246,039Net Assets 2011: $69,518,0002011Assets 2012: $681,124,709Liabilities 2012: $608,441,334Net Assets 2012: $72,683,3752012Assets 2013: $674,858,867Liabilities 2013: $615,493,012Net Assets 2013: $59,365,8552013Assets 2014: $692,738,762Liabilities 2014: $619,675,387Net Assets 2014: $73,063,3752014Assets 2015: $706,308,625Liabilities 2015: $629,722,538Net Assets 2015: $76,586,0872015Assets 2016: $720,391,148Liabilities 2016: $640,963,207Net Assets 2016: $79,427,9412016Assets 2017: $731,548,480Liabilities 2017: $646,904,210Net Assets 2017: $84,644,2702017Assets 2018: $740,060,013Liabilities 2018: $649,983,699Net Assets 2018: $90,076,3142018Assets 2019: $775,533,362Liabilities 2019: $675,676,215Net Assets 2019: $99,857,1472019Assets 2020: $949,372,007Liabilities 2020: $842,167,990Net Assets 2020: $107,204,0172020Assets 2021: $1,094,000,567Liabilities 2021: $982,646,634Net Assets 2021: $111,353,9332021Assets 2022: $1,128,876,808Liabilities 2022: $1,010,478,412Net Assets 2022: $118,398,3962022Assets 2023: $1,263,639,851Liabilities 2023: $1,120,774,775Net Assets 2023: $142,865,0762023Assets 2024: $1,305,923,917Liabilities 2024: $1,149,247,088Net Assets 2024: $156,676,8292024

Highlighted filing

2024

Assets$1,305,923,917
Liabilities$1,149,247,088
Net Assets$156,676,829

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $27,398,2532010Expenses 2011: $24,413,0902011Expenses 2012: $23,564,2052012Revenue 2013: $19,626,842Expenses 2013: $20,655,251Net Income 2013: -$1,028,4092013Revenue 2014: $23,857,399Expenses 2014: $21,320,738Net Income 2014: $2,536,6612014Revenue 2015: $24,540,324Expenses 2015: $20,431,370Net Income 2015: $4,108,9542015Revenue 2016: $26,884,933Expenses 2016: $22,904,813Net Income 2016: $3,980,1202016Revenue 2017: $29,013,532Expenses 2017: $23,484,474Net Income 2017: $5,529,0582017Revenue 2018: $32,305,541Expenses 2018: $26,303,310Net Income 2018: $6,002,2312018Revenue 2019: $34,353,683Expenses 2019: $28,055,675Net Income 2019: $6,298,0082019Revenue 2020: $32,836,740Expenses 2020: $28,155,637Net Income 2020: $4,681,1032020Revenue 2021: $34,623,993Expenses 2021: $28,796,078Net Income 2021: $5,827,9152021Revenue 2022: $41,268,421Expenses 2022: $29,611,028Net Income 2022: $11,657,3932022Revenue 2023: $58,318,754Expenses 2023: $40,152,934Net Income 2023: $18,165,8202023Revenue 2024: $64,640,697Expenses 2024: $51,952,169Net Income 2024: $12,688,5282024

Highlighted filing

2024

Revenue$64,640,697
Expenses$51,952,169
Net Income$12,688,528

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,306$1,149$157$64.6$52.0$12.7
2023Detailed filing. Detailed filing data is available for this year.$1,264$1,121$143$58.3$40.2$18.2
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,129$1,010$118$41.3$29.6$11.7
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,094$983$111$34.6$28.8$5.83
2020Detailed filing. Detailed filing data is available for this year.$949$842$107$32.8$28.2$4.68
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$776$676$99.9$34.4$28.1$6.30
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$740$650$90.1$32.3$26.3$6.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$732$647$84.6$29.0$23.5$5.53
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$720$641$79.4$26.9$22.9$3.98
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$706$630$76.6$24.5$20.4$4.11
2014Detailed filing. Detailed filing data is available for this year.$693$620$73.1$23.9$21.3$2.54
2013Detailed filing. Detailed filing data is available for this year.$675$615$59.4$19.6$20.7$1.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$681$608$72.7$23.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$643$573$69.5$24.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$597$534$62.8$27.4
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 28, 2025
Return Version
2024v5.2
Gross Receipts
$69,684,795
Mission and Program Overview

Mission

Sikorsky financial credit union is committed to act in the best interest of its membership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$883,891,973$942,456,286▲ $58,564,313
Investments in Publicly Traded Securities$225,731,794$212,671,097▼ $13,060,697
Rtn Earn Endowment Incm Other Fnds$142,865,076$156,676,829▲ $13,811,753
Savings and Temporary Cash Investments$116,062,083$114,544,390▼ $1,517,693
Land, Buildings, and Equipment, Net$7,878,126$6,584,642▼ $1,293,484
Investments Other Securities$5,994,544$4,574,868▼ $1,419,676
Cash and Non-Interest-Bearing Accounts$3,802,288$4,143,199▲ $340,911
Accounts Receivable$1,883,429$1,945,544▲ $62,115
Prepaid Expenses and Deferred Charges$1,065,636$1,427,426▲ $361,790
Receivables From Officers Etc$586,660$599,400▲ $12,740
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,263,652,136$1,305,923,917▲ $42,271,781
Other Assets Total$16,755,603$16,977,065▲ $221,462
Liabilities
Other Liabilities$1,070,411,798$1,138,055,869▲ $67,644,071
Mortgage Notes Payable Secured by Investment Property$36,000,000--
Accounts Payable and Accrued Expenses$14,375,262$11,191,219▼ $3,184,043
Total Liabilities$1,120,787,060$1,149,247,088▲ $28,460,028
Net Assets / Fund Balance
Total Net Assets Fund Balance$142,865,076$156,676,829▲ $13,811,753
Total Liabilities and Net Assets / Fund Balance$1,263,652,136$1,305,923,917▲ $42,271,781

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,265,037$5,655,263$7,920,300
Leasehold Improvements$2,734,937$2,532,947$5,267,884
Buildings$984,668$4,080,315$5,064,983
Land$600,000-$600,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vincent Ciambriello JrPresident/CEOFT$599,433$616,639$1,216,072
Benjamin CitrinSVP/CFOFT$301,967$235,082$537,049
Charles HoddinottEvp/COOFT$286,068$219,667$505,735
Kenneth FerrariSVP/clgoFT$265,127$206,743$471,870
Alfred PoseySVP/CIOFT$247,896$207,418$455,314
Ann Marie GillickSVP/chroFT$207,687$187,555$395,242
Lee StaterHome Loan Sales ManagerFT$79,510$208,993$288,503
Joseph NuzzoVP Business LendingFT$162,394$80,530$242,924
Jenna BartleyVP Digital BankingFT$120,284$71,485$191,769
Timothy CahillHome Loan ConsultantFT$41,794$146,256$188,050
Lucia PanicoVP Retail BankingFT$136,920$47,752$184,672
Alison IgnatowskiHome Loan ConsultantFT$41,455$138,696$180,151
Ann Marie MarreirosVP Deposit OperationsFT$132,754$35,765$168,519
Nicole CorriveauIt Infrastructure ManagerFT$111,111$40,902$152,013
Zachary HasselbarthConsumer Lending ManagerFT$130,858$4,910$135,768
James PrusaczykBoard Vice Chairperson-$4,395$7,442$11,837
Robert DavidBoard Member-$4,546$5,508$10,054
John PawlowskiBoard Member-$2,207$7,566$9,773
Joseph KubicBoard Secretary-$1,310$8,135$9,445
Richard KolletBoard Treasurer-$2,988$4,994$7,982
Elizabeth DorneyBoard Member--$6,438$6,438
Maureen FinoBoard Member--$5,847$5,847
Carol NavarroBoard Member--$5,091$5,091
Jeffrey LaczkoskiBoard Member-$1,801$3,213$5,014
William SchlenkBoard Chairperson-$1,432$2,676$4,108
Geoffrey HeraldBoard Member/supervisory Committee--$2,935$2,935

Highest Paid Contractors

ContractorServicesLocationCompensation
VelerapscuCredit Card Servicing560 CARILLON PARKWAY, St Petersburg, FL 33716$2,423,861
Digital First HoldingsOnline Banking & BillpayPO BOX 660367, Dallas, TX 75266$1,085,098
Fiserv INCComputer SoftwarePO BOX 934057, Atlanta, GA 31193$892,663
ResponseBrand Building And Marketing85 WILLOW ST, New Haven, CT 06511$695,853
Insight DirectCopmuter HardwarePO BOX 731069, Dallas, TX 75373$516,213
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$53,204,740
Investment Income
$11,435,957
Other Revenue
$0
Change in Net Assets
$12,688,528

Audited Revenue Reconciliation

Revenue per Audited Statements
$64,640,697
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$64,640,697
Total Revenue per Form 990
$64,640,697
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,531,597
Salaries, Compensation, and Employee Benefits$16,368,391
Grants and Similar Amounts Paid$52,181
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$18,242,335
Other Salaries and Wages---$8,496,693
Office Expenses---$7,807,014
Current Officers, Directors, Trustees, and Key Employees---$4,544,424
Other Employee Benefits---$1,973,061
Depreciation Depletion---$1,504,085
Occupancy---$1,420,272
Advertising---$1,274,156
Payroll Taxes---$897,321
Fees for Services Other---$643,548
Pension Plan Contributions---$456,892
Fees for Service Investment Mgmnt Fees---$409,424
Information Technology---$373,649
Fees for Services Accounting---$310,653
Other Expenses---$181,035
All Other Expenses---$180,866
Insurance---$178,041
Conferences and Meetings---$59,979
Grants to Domestic Orgs---$47,181
Grants to Domestic Individuals---$5,000
Fees for Services Legal---$2,560
Total Functional Expenses$0$0$0$51,952,169

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$51,952,169
Total Expenses per Audited Statements$51,952,169
Total Expenses per Form 990$51,952,169
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Boys & Girls Club of LnvShelton, CT501(c)(3)To Improve the Overall Health of Club Members.$5,500
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$586,660$599,400▲ $12,740
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$1,138,055,869
Governance and Compliance

Governance Checklist

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

The credit union has members. The credit union's field of membership includes those who live, work, worship, or volunteer in fairfield, new haven or hartford counties in connecticut.

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

Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise.

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

The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of the organization's profits in the form of cash dividends.

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

The manager of internal audit, ceo, svp/cfo, and sfcu board will review the form 990 prior to its filing.

Form 990, Part VI, Section B, Line 12C

All employees are required annually to read and acknowledge policies through the adp portal. Newly hired employees are also required to read and acknowledge policies through the adp portal.

Form 990, Part VI, Section B, Line 15

The executive committee sets compensation for the ceo of sfcu. The ceo sets compensation for sfcu officers and key employees within the credit union.

Form 990, Part VI, Section C, Line 19

Governing documents are made available to the public. The conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Sikorsky Financial Credit Union
EIN
06-0634736
Phone
2033772252
Address
1000 ORONOQUE LANE, STRATFORD, CT 06614

Signing Officer

Name
Benjamin W Citrin
Title
SVP Finance/CFO
Phone
2033857311
Signed
2025-10-28

Organization Details

Principal Officer
Vincent Ciambriello Jr
Formed
1948
Legal Domicile
Ct
Voting Board Members
11
Independent Board Members
11
Employees
157
Volunteers
15

Preparer

Firm
Doeren Mayhew
Address
8785 SW 165TH AVENUE SUITE 303, MIAMI, FL 33193
Preparer
Aubrey Clegg
Phone
3052328272
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Computer service expense 587,428. Advance planning expense 56,120.

Form 990, Part IX, Line 24E

Training expense 180,866.

Form 990, Part XII, Line 2C

There were no changes in the process of the committee that assumes responsibility of the oversight of the audit and selection of the independent auditor.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt from most federal, state and local income taxes under the provisions of the internal revenue code (irc) and state tax laws. However, irc section 511 imposes a tax on the unrelated business income derived by state-chartered credit unions. Generally, these taxes are insignificant to the credit union.

Raw XML AppendixShowing 400 of 808 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.

Path#Value
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IRS990/AccountsReceivableGrp/EOYAmt01945544
IRS990/ActivitiesConductedPrtshpInd00
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IRS990/BooksInCareOfDetail/PhoneNum02033772252
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
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IRS990/ContractorCompensationGrp/ServicesDesc4COPMUTER HARDWARE
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IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt0157
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IRS990/FamilyOrBusinessRlnInd00
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IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt17HOME LOAN SALES MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt18VP BUSINESS LENDING
IRS990/Form990PartVIISectionAGrp/TitleTxt19VP RETAIL BANKING
IRS990/Form990PartVIISectionAGrp/TitleTxt20VP DEPOSIT OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP DIGITAL BANKING
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IRS990/Form990PartVIISectionAGrp/TitleTxt23IT INFRASTRUCTURE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt24CONSUMER LENDING MANAGER
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IRS990/MissionDesc0SIKORSKY FINANCIAL CREDIT UNION IS COMMITTED TO ACT IN THE BEST INTEREST OF ITS MEMBERSHIP. OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF CONNECTICUT RESIDENTS IN FAIRFIELD, NEW HAVEN, AND HARTFORD COUNTIES.
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