Connecticut Community Credit Union Inc
- Assets
- $20.2m
- Revenue
- $932.4k
- Investments
- $8.5m
- Employees
- 11
- Location
- Pawcatuck, CT
- Founding
- 03/1976
- Data as of
- 12/2017
- EIN
- 06-0667223
Organization Overview
Connecticut Community Credit Union Inc is located in Pawcatuck, CT. The organization was established in 1976. 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 12/2016, Connecticut Community Credit Union Inc employed 11 individuals. Connecticut Community Credit Union Inc 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 12/2017, Connecticut Community Credit Union Inc generated $932.4k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $985.6k during the year ending 12/2017. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF MEMBERS' DEPOSIT ACCOUNTS AND THE PAYMENT OF INTEREST AND DIVIDENDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Mcelhaney CEO | Officer | 40 | $88,941 |
Jacques Parenteau Treasurer | Trustee | 1 | $0 |
Susan Dowling Chair | Trustee | 1 | $0 |
Jean Swift Director | Trustee | 1 | $0 |
Peter Romeo Vice Chair | Trustee | 1 | $0 |
Jimmie Willson Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $118,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,978 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $932,385 |
| Statement of Expenses | |
|---|---|
| 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. | $93,985 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $329,693 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $77,017 |
| Payroll taxes | $34,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,067 |
| Advertising and promotion | $3,133 |
| Office expenses | $44,137 |
| Information technology | $63,942 |
| Royalties | $0 |
| Occupancy | $43,466 |
| Travel | $1,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80 |
| Interest | $5,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,726 |
| Insurance | $18,762 |
| All other expenses | $0 |
| Total functional expenses | $985,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,833,357 |
| Savings and temporary cash investments | $425,559 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250,407 |
| Loans from Officers, Directors, or Controlling Persons | $65,001 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,955,514 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,504,964 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,243 |
| Total assets | $20,172,264 |
| Accounts payable and accrued expenses | $261,806 |
| 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 | $18,695,780 |
| Total liabilities | $18,957,586 |
| 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 |
| Total liabilities and net assets/fund balances | $1,214,678 |
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|---|---|---|
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