Cabot Boston Credit Union
- Assets
- $6.8m
- Revenue
- $177.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 08/1944
- Data as of
- 12/2022
- EIN
- 04-6053292
Organization Overview
Cabot Boston Credit Union is located in Boston, MA. The organization was established in 1944. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cabot Boston 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 12/2022, Cabot Boston Credit Union generated $177.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $235.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 4 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CABOT BOSTON CREDIT UNION IS A CREDIT UNION FOR US BASED EMPLOYEES OF CABOT CORPORATION PROVIDING SAVINGS AND LOAN PRODUCTS TO MEMBERS AND THEIR FAMILIES FOR PRUDENT AND PRODUCTIVE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVIDENDS PAID TO MEMBERS
MEMBER CORE PROCESSING INCLUDING MEMBER ONLINE SERVICES
MEMBER LOAN SERVICING EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Hult Chairman | Officer | 3 | $0 |
Jesson Christhomme Director/clerk | Officer | 3 | $0 |
Viktoriya Shtyen-Bohl Director/treasurer | Officer | 3 | $0 |
Philip Doiron Director | Trustee | 3 | $0 |
Karen Bishop Director | Trustee | 3 | $0 |
Alisyn Rowe Director | Trustee | 3 | $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 | $131,874 |
| Investment income | $29,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $177,652 |
| 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 | $3,919 |
| Compensation of current officers, directors, key employees. | $133,575 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,566 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $497 |
| Office expenses | $2,250 |
| Information technology | $24,650 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $592 |
| Insurance | $6,084 |
| All other expenses | $1,410 |
| Total functional expenses | $235,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,839 |
| Savings and temporary cash investments | $0 |
| 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 | $3,728,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,988,760 |
| Intangible assets | $0 |
| Other assets | $67,882 |
| Total assets | $6,847,602 |
| Accounts payable and accrued expenses | $65,058 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,697,814 |
| Total liabilities | $5,762,872 |
| 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 | $1,084,730 |
| Total liabilities and net assets/fund balances | $6,847,602 |