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.
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 |
Roger E Lapierre Crpc First Vice Chairman | OfficerTrustee | 2 | $0 |
Robert W Leblanc Treasurer | OfficerTrustee | 2 | $0 |
Joseph L Chiodo CPA Second Vice Chairman | OfficerTrustee | 2 | $0 |
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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