Stamford Healthcare Credit Union Inc
- Assets
- $24.4m
- Revenue
- $927.0k
- Investments
- $15.0m
- Employees
- 5
- Location
- Stamford, CT
- Founding
- 03/1976
- Data as of
- 12/2023
- EIN
- 06-0991086
Organization Overview
Stamford Healthcare Credit Union Inc is located in Stamford, CT. The organization was established in 1976. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2023, Stamford Healthcare Credit Union Inc employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Stamford Healthcare 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, Stamford Healthcare Credit Union Inc generated $927.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $810.5k during the year ending 12/2023. While expenses have increased by 0.1% per year over the past 8 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
TO PROVIDE QUALITY FINANCIALSERVICES TO MEMBERS IN AN EQUITABLE MANNER WITHOUT REGARD TO EMPLOYMENTSTATUS, ETHNIC BACKGROUND OR FINANCIAL WORTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE QUALITY FINANCIAL SERVICES TO MEMBERS IN AN EQUITABLE MANNER WITHOUT REGARD TO EMPLOYMENT STATUS, ETHNIC BACKGROUND OR FINANCIAL WORTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rose Coscarelli-Curtis CEO & Treasurer | OfficerTrustee | 50 | $156,763 |
Robert Salvi Board Chairman | Officer | 10 | $0 |
A Rick Castiglione Board Vice-Chair | Officer | 10 | $0 |
Lola Marena Board Member | Officer | 10 | $0 |
Mary Judge Board Member | Officer | 10 | $0 |
Joanne Cesario Supervisory Chair | Officer | 10 | $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 | $0 |
| Investment income | $610,482 |
| 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 | $926,975 |
| 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. | $351,990 |
| Compensation of current officers, directors, key employees. | $351,990 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $36,179 |
| Other employee benefits | $27,751 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,651 |
| Advertising and promotion | $23 |
| Office expenses | $40,240 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,671 |
| Travel | $179 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,762 |
| All other expenses | $33,229 |
| Total functional expenses | $810,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,287 |
| Savings and temporary cash investments | $1,930,632 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,771,915 |
| Loans from Officers, Directors, or Controlling Persons | $130,646 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,842 |
| Net Land, buildings, and equipment | $88,079 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,003,710 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,385,172 |
| Total assets | $24,364,283 |
| Accounts payable and accrued expenses | $37,664 |
| 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 | $21,623,029 |
| Total liabilities | $21,660,693 |
| 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 | $2,703,590 |
| Total liabilities and net assets/fund balances | $24,364,283 |