State Police Credit Union Inc
- Assets
- $78.7m
- Revenue
- $2.0m
- Investments
- $25.8m
- Employees
- 8
- Location
- Meriden, CT
- Founding
- 03/1976
- Data as of
- 12/2023
- EIN
- 06-0762028
Organization Overview
State Police Credit Union Inc is located in Meriden, 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 12/2023, State Police Credit Union Inc employed 8 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. State Police 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 12/2023, State Police Credit Union Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 2.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CREDIT UNION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CREDIT UNION SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Gasiorowski President/ceo | Officer | 37.5 | $131,007 |
Brunilda Lopez Operations Specialist | Officer | 37.5 | $64,804 |
Cynthia Graham Past President/ceo | Officer | 38 | $21,096 |
John Kolosky Chairperson | OfficerTrustee | 1 | $0 |
Robert Grega Vice Chairperson | OfficerTrustee | 1 | $0 |
J Paul Vance Treasurer | OfficerTrustee | 1 | $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 | $942,628 |
| Investment income | $1,064,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,231 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,026,393 |
| 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. | $284,628 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,718 |
| Pension plan accruals and contributions | $19,209 |
| Other employee benefits | $115,573 |
| Payroll taxes | $36,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,689 |
| Office expenses | $272,488 |
| Information technology | $126,236 |
| Royalties | $0 |
| Occupancy | $102,360 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,508 |
| Interest | $316,539 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,384 |
| Insurance | $22,936 |
| All other expenses | $0 |
| Total functional expenses | $1,684,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $270,651 |
| Savings and temporary cash investments | $2,726,368 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,044 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,755,790 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $681,790 |
| Net Land, buildings, and equipment | $10,206 |
| Investments—publicly traded securities | $27,603,685 |
| Investments—other securities | $25,802,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $681,927 |
| Total assets | $78,652,561 |
| Accounts payable and accrued expenses | $570,449 |
| 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 | $67,292,609 |
| Total liabilities | $67,863,058 |
| 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 | $10,789,503 |
| Total liabilities and net assets/fund balances | $78,652,561 |