Civic Intelligence

Montauk Credit Union

EIN 11-1096090 • 501(c)14 • New York, NY

View Organization Page

Profile

NONE

111 West 26th StreetNew York, NY 10001

www.montauk-cu.com

Siviq Scores

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

Liabilities / Assets

100th percentile

0.98x

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

501(c)14 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

20.47x

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

501(c)14 • $100M-$250M nonprofits • Source year 2015

Net Margin

1st percentile

-227%

Higher net margin than 1% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

94th percentile

$493,981

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2015

Asset Growth

12th percentile

-3.0%

Faster asset growth than 12% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

2nd percentile

-10%

Faster revenue growth than 2% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$162,431,047

Down $5,024,134 (-3.0%) from 2014

Liabilities

Up

$159,605,477

Up $12,667,788 (+8.6%) from 2014

Net Assets

Down

$2,825,570

Down $17,691,922 (-86%) from 2014

Operations
Liabilities / Revenue91st percentileNet Margin1st percentile

Revenue

Down

$7,797,075

Down $872,075 (-10%) from 2014

Expenses

Up

$25,488,997

Up $18,586,415 (+269%) from 2014

Net Income

Down

-$17,691,922

Down $19,458,490 (-1101%) from 2014

Trend Graphs

Balance Sheet Trend

Asset Growth12th percentile

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

$200M$150M$100M$50M$0Assets 2010: $118,037,382Liabilities 2010: $106,862,447Net Assets 2010: $11,174,9352010Assets 2012: $141,366,683Liabilities 2012: $125,401,402Net Assets 2012: $15,965,2812012Assets 2013: $156,963,990Liabilities 2013: $138,213,066Net Assets 2013: $18,750,9242013Assets 2014: $167,455,181Liabilities 2014: $146,937,689Net Assets 2014: $20,517,4922014Assets 2015: $162,431,047Liabilities 2015: $159,605,477Net Assets 2015: $2,825,5702015

Highlighted filing

2015

Assets$162,431,047
Liabilities$159,605,477
Net Assets$2,825,570
Open 2015 Filing

Operations Trend

Revenue Growth2nd percentile

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

$40M$20M$0-$20MExpenses 2010: $5,582,2912010Expenses 2012: $4,992,8832012Revenue 2013: $7,982,785Expenses 2013: $5,197,142Net Income 2013: $2,785,6432013Revenue 2014: $8,669,150Expenses 2014: $6,902,582Net Income 2014: $1,766,5682014Revenue 2015: $7,797,075Expenses 2015: $25,488,997Net Income 2015: -$17,691,9222015

Highlighted filing

2015

Revenue$7,797,075
Expenses$25,488,997
Net Income-$17,691,922
Open 2015 Filing

Filings

Most recent year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$162,431,047
Liabilities
$159,605,477
Net assets
$2,825,570
Revenue
$7,797,075
Expenses
$25,488,997
Net income
-$17,691,922
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$162$160$2.83$7.80$25.5$17.7
2014Detailed filing. Detailed filing data is available for this year.$167$147$20.5$8.67$6.90$1.77
2013Detailed filing. Detailed filing data is available for this year.$157$138$18.8$7.98$5.20$2.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$141$125$16.0$4.99
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$107$11.2$5.58
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 13, 2016
Return Version
2015v2.1
Gross Receipts
$7,825,119
Mission and Program Overview

Mission

Build lifetime financial relationships with each member while providing competitive products and excellent service.

CREDIT UNION

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$155,910,524$144,984,121▼ $10,926,403
Cash and Non-Interest-Bearing Accounts$5,469,523$11,756,331▲ $6,286,808
Rtn Earn Endowment Incm Other Fnds$20,517,492$2,825,570▼ $17,691,922
Land, Buildings, and Equipment, Net$2,473,063$2,372,057▼ $101,006
Prepaid Expenses and Deferred Charges$637,603$721,890▲ $84,287
Savings and Temporary Cash Investments$100,000$100,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$167,455,181$162,431,047▼ $5,024,134
Other Assets Total$2,864,468$2,496,648▼ $367,820
Liabilities
Other Liabilities$146,291,926$159,086,751▲ $12,794,825
Accounts Payable and Accrued Expenses$645,763$518,726▼ $127,037
Total Liabilities$146,937,689$159,605,477▲ $12,667,788
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,517,492$2,825,570▼ $17,691,922
Total Liabilities and Net Assets / Fund Balance$167,455,181$162,431,047▼ $5,024,134

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,022,837$914,863$2,937,700
Equipment$276,445$182,291$458,736
Leasehold Improvements$70,108$24,746$94,854
Other Land Buildings$2,667$56,749$59,416
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Louis JimenezCEO/treasurerFT$194,250$314,926$509,176
Gina Marie BoyleController/CFOFT$128,583$6,426$135,009
Michael TuranoLoan SupervisoryFT$127,083$6,351$133,434
Richard DichiaraInterim CEOFT$131,250-$131,250
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,722,824
Investment Income
$21,980
Other Revenue
$52,271
Change in Net Assets
$-17,691,922
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$24,452,494
Salaries, Compensation, and Employee Benefits$1,036,503
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---$625,231
Office Expenses---$428,601
Other Salaries and Wages---$313,491
Fees for Services Other---$266,236
Insurance---$157,455
Other Expenses---$142,328
Depreciation Depletion---$137,868
Payroll Taxes---$66,816
Information Technology---$49,412
Fees for Services Accounting---$47,592
Fees for Services Legal---$45,827
Travel---$44,949
Pension Plan Contributions---$24,214
All Other Expenses---$22,939
Advertising---$20,251
Conferences and Meetings---$14,585
Other Employee Benefits---$6,751
Fees for Services Management---$2,500
Total Functional Expenses$0$0$0$25,488,997
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
Members Share & Savings Accounts$158,183,848
Dividend & Accrued Interest Payable$620,304
Amts Due Under Loan Participations$273,049
Other Liabilities$9,550
Governance and Compliance

Governance Checklist

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

“All depositors are called members and in a mutual company they own the credit union.”

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

“All depositors are members.”

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

“All depositors are members.”

Form 990, Part VI, Section B, Line 11

“The treasurer reviews the form 990 before the form is signed and submitted.”

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

“The organization monitors compliance with conflict of interest policies via management oversight and regular evaluations.”

Form 990, Part VI, Section B, Line 15

“The process for determining compensation of the paid officers/directors includes a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Montauk Credit Union
EIN
11-1096090
Phone
2129895200
Address
111 WEST 26TH STREET, NEW YORK, NY 10001

Signing Officer

Name
Gina Marie Boyle
Title
Controller/CFO
Phone
2129895200
Signed
2016-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Same as C Above
Formed
1922
Legal Domicile
Ny
Voting Board Members
0
Independent Board Members
0
Employees
14
Volunteers
9

Preparer

Firm
Firley Moran Freer & Eassa CPA Pc
Address
5010 CAMPUSWOOD DR, E SYRACUSE, NY 13057
Preparer
Tammy L Reyes
Phone
3154727045
Raw XML Appendix364 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt024907
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt034019
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LOUIS JIMENEZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0509176
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL DEPOSITORS ARE CALLED MEMBERS AND IN A MUTUAL COMPANY THEY OWN THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DEPOSITORS ARE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL DEPOSITORS ARE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TREASURER REVIEWS THE FORM 990 BEFORE THE FORM IS SIGNED AND SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MONITORS COMPLIANCE WITH CONFLICT OF INTEREST POLICIES VIA MANAGEMENT OVERSIGHT AND REGULAR EVALUATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS FOR DETERMINING COMPENSATION OF THE PAID OFFICERS/DIRECTORS INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0167455181
IRS990/TotalAssetsEOYAmt0162431047
IRS990/TotalAssetsGrp/BOYAmt0167455181
IRS990/TotalAssetsGrp/EOYAmt0162431047
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/TotalAmt025488997
IRS990/TotalGrossUBIAmt052271
IRS990/TotalLiabilitiesBOYAmt0146937689
IRS990/TotalLiabilitiesEOYAmt0159605477
IRS990/TotalLiabilitiesGrp/BOYAmt0146937689
IRS990/TotalLiabilitiesGrp/EOYAmt0159605477
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt020517492
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02825570
IRS990/TotalOtherCompensationAmt022489
IRS990/TotalProgramServiceRevenueAmt07722824
IRS990/TotalReportableCompFromOrgAmt0871185
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07744804
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07797075
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt052271
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0167455181
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0162431047
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt044949
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.MONTAUK-CU.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GINA MARIE BOYLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CONTROLLER/CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum02129895200
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MONTAUK CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0MONT
ReturnHeader/Filer/EIN0111096090
ReturnHeader/Filer/PhoneNum02129895200
ReturnHeader/Filer/USAddress/AddressLine1Txt0111 WEST 26TH STREET
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010001
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161148763
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FIRLEY MORAN FREER & EASSA CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05010 CAMPUSWOOD DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0E SYRACUSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013057
ReturnHeader/PreparerPersonGrp/PhoneNum03154727045
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TAMMY L REYES
ReturnHeader/ReturnTs02016-05-16T09:06:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

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