Dexter Credit Union
- Assets
- $96.7m
- Revenue
- $5.0m
- Investments
- $1.7m
- Employees
- 49
- Location
- Central Falls, RI
- Founding
- Data as of
- 12/2015
- EIN
- 05-0256493
Organization Overview
Dexter Credit Union is located in Central Falls, RI. As of 12/2015, Dexter Credit Union employed 49 individuals. Dexter Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS 3,079 LOANS TOTALING $68,635,938 FROM MEMBERS AND $90,881,510 OF DEPOSITS IN 16,282 MEMBER ACCOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen J Angell Esquire President & CEO | OfficerTrustee | 40 | $224,602 |
Jon E Walmsley CPA Sr Exec Vice President/cfo | Officer | 40 | $132,228 |
Paul R Brousseau Sr Exec Vice President | Officer | 40 | $96,961 |
Thomas P Kiley CPA Chairman | OfficerTrustee | 5 | $0 |
Roger E Lapierre Crpc First Vice Chairman | OfficerTrustee | 2 | $0 |
Joseph L Chiodo CPA Second Vice Chairman | OfficerTrustee | 2 | $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 | $4,701,398 |
| Investment income | $313,325 |
| 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 | $5,043,492 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,599,463 |
| Pension plan accruals and contributions | $163,570 |
| Other employee benefits | $230,351 |
| Payroll taxes | $143,563 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $236,583 |
| Fees for services: Accounting | $30,841 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $142,562 |
| Fees for services: Other | $77,665 |
| Advertising and promotion | $240,452 |
| Office expenses | $39,417 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $268,477 |
| Travel | $33,754 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,904 |
| Interest | $403,174 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $538,285 |
| Insurance | $81,853 |
| All other expenses | $731,639 |
| Total functional expenses | $7,061,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,090,944 |
| Savings and temporary cash investments | $3,874,224 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,875,597 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,407,360 |
| Investments—publicly traded securities | $9,931,035 |
| Investments—other securities | $1,698,997 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,780,122 |
| Total assets | $96,658,279 |
| Accounts payable and accrued expenses | $43,019 |
| 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 | $91,101,264 |
| Total liabilities | $91,144,283 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $5,513,996 |
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