Community Credit Union Of New Milford Inc is located in New Milford, 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 12/2021, Community Credit Union Of New Milford Inc employed 7 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Community Credit Union Of New Milford 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 12/2021, Community Credit Union Of New Milford Inc generated $506.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $521.4k during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAVINGS AND BORROWING THRU MEMBER OWNED FINANCIAL COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAVINGS AND BORROWING THRU MEMBER OWNED FINANCIAL COOPERATIVE. THE ORGAINZATION OFFERS MEMBERS SAVINGS ACCOUNTS, CHECKING ACCOUNTS, AND LOANS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John T Kmetz III CEO | Officer | 45 | $64,403 |
Kevin Brown Vice Chair | Officer | 2 | $0 |
George Assad Secretary | Officer | 2 | $0 |
Martin Landgrebe Chairman | Officer | 2 | $0 |
George C Buckbee Treasurer | Officer | 2 | $0 |
Peter Stone Board Member | Trustee | 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 | $501,305 |
Investment income | $0 |
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 | $506,833 |
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. | $64,403 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $159,431 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $38,637 |
Payroll taxes | $0 |
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 | $0 |
Advertising and promotion | $8,370 |
Office expenses | $69,391 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $45,687 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $23 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,029 |
Insurance | $0 |
All other expenses | $9,217 |
Total functional expenses | $521,404 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,346,311 |
Savings and temporary cash investments | $8,056,202 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,411 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $4,971,053 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $90,108 |
Net Land, buildings, and equipment | $17,617 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $30,057 |
Total assets | $15,513,759 |
Accounts payable and accrued expenses | $14,201 |
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 | $14,588,859 |
Total liabilities | $14,603,060 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $910,699 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $15,513,759 |
Organization Name | Assets | Revenue |
---|---|---|
Navigant Credit Union Smithfield, RI | $3,081,655,511 | $116,968,150 |
Metro Credit Union Chelsea, MA | $2,510,941,078 | $92,937,477 |
American Eagle Financial Credit Union Incorporated East Hartford, CT | $2,355,398,570 | $80,581,273 |
Coastal1 Credit Union Pawtucket, RI | $2,840,412,596 | $91,925,616 |
Sunmark Credit Union Latham, NY | $1,009,786,367 | $61,777,524 |
Jeanne Darc Credit Union Lowell, MA | $1,792,528,408 | $59,293,841 |
Harvard University Employees Credit Union Cambridge, MA | $1,037,994,144 | $42,695,601 |
Sharon & Cresent United Credit Union Sharon, MA | $1,214,608,643 | $40,886,511 |
St Annes Credit Union Of Fall River Mass Fall River, MA | $1,266,762,131 | $34,865,858 |
Sikorsky Financial Credit Union Inc Stratford, CT | $1,094,000,567 | $34,623,993 |
Leominster Credit Union Leominster, MA | $813,719,349 | $30,410,755 |
St Marys Credit Union Inc Marlborough, MA | $985,400,554 | $32,310,700 |