Athol Credit Union
- Assets
- $90.3m
- Revenue
- $4.6m
- Investments
- $374.5k
- Employees
- 35
- Location
- Athol, MA
- Founding
- 01/1935
- Data as of
- 12/2023
- EIN
- 04-1046540
Organization Overview
Athol Credit Union is located in Athol, MA. The organization was established in 1935. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Athol Credit Union employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Athol Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2023, Athol Credit Union generated $4.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.4m during the year ending 12/2023. While expenses have increased by 2.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CREDIT UNION ACCEPTS DEPOSITS AND GRANTS LOANS TO ITS MEMBERS. BENEFITS PAID ARE DIVIDENDS ON DEPOSIT ACCOUNTS AND GRANTING ACCESSIBLE CREDIT TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORIGINATION AND MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Carey Director | Trustee | 1 | $0 |
Glenn Eaton Director | Trustee | 1 | $0 |
Christopher Casella Chairman | Trustee | 1 | $0 |
Len Crossman Director | Trustee | 1 | $0 |
Brianna Drohen Director | Trustee | 1 | $0 |
Mark Wright Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,365,921 |
| Investment income | $238,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,412 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,642,872 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $486,180 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $739,944 |
| Pension plan accruals and contributions | $28,514 |
| Other employee benefits | $265,265 |
| Payroll taxes | $114,548 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $198,667 |
| Fees for services: Accounting | $39,992 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $30,974 |
| Office expenses | $126,933 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $409,979 |
| Travel | $854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,133,577 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $130,668 |
| Insurance | $42,967 |
| All other expenses | $0 |
| Total functional expenses | $4,399,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $322,489 |
| Savings and temporary cash investments | $4,661,872 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $76,802,969 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,897,794 |
| Net Land, buildings, and equipment | $947,628 |
| Investments—publicly traded securities | $2,787,971 |
| Investments—other securities | $374,500 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,482,790 |
| Total assets | $90,278,013 |
| Accounts payable and accrued expenses | $150,138 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,100,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $72,815,082 |
| Total liabilities | $82,065,220 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,212,793 |
| Total liabilities and net assets/fund balances | $90,278,013 |