New York Credit Union Association Inc
- Assets
- $26.5m
- Revenue
- $2.1m
- Investments
- $22.4m
- Employees
- 13
- Location
- Albany, NY
- Founding
- 07/1991
- Data as of
- 12/2021
- EIN
- 13-5582889
Organization Overview
New York Credit Union Association Inc is located in Albany, NY. The organization was established in 1991. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, New York Credit Union Association Inc employed 13 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. New York Credit Union Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, New York Credit Union Association Inc generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCING THE CREDIT UNION MOVEMENT BY ADVOCATING, EDUCATING, AND UNIFYING THE INTERESTS OF ALL CREDIT UNIONS IN NEW YORK STATE. FOUNDED IN 1917, THE NEW YORK CREDIT UNION ASSOCIATION PROVIDES CREDIT UNIONS WITH A FULL RANGE OF SERVICES INCLUDING EDUCATION AND TRAINING, ADVOCACY, COMMUNITY OUTREACH, HUMAN RESOURCES AND COMPLIANCE. UNDER THE LEADERSHIP OF PRESIDENT AND CEO WILLIAM J. MELLIN, THE ASSOCIATION IS NOW THE FOURTH LARGEST CREDIT UNION ASSOCIATION IN THE COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW YORK CREDIT UNION ASSOCIATION, INC. ("THE ASSOCIATION") HAS WORKED "TO SERVE AND SUPPORT CREDIT UNIONS" SINCE 1917. AS THE TRADE ASSOCIATION FOR APPROXIMATELY 300 NOT-FOR-PROFIT, MEMBER-OWNED CREDIT UNIONS IN NEW YORK, THE ASSOCIATION PROMOTES THE HEALTH AND WELL BEING OF THE CREDIT UNION MOVEMENT AT THE NATIONAL, STATE AND LOCAL LEVEL. THE ASSOCIATION UNIFIES CREDIT UNIONS AND PROMOTES THEIR MUTUAL WELFARE, WHILE ALSO MAINTAINING CONTACTS WITH SIMILAR ORGANIZATIONS IN OTHER STATES. EDUCATIONAL SEMINARS AND PROGRAMS PROVIDE MEMBER CREDIT UNIONS WITH ANOTHER SOURCE OF INFORMATION. THESE PROGRAMS, AVAILABLE TO ALL MEMBER CREDIT UNIONS, ARE EDUCATIONAL IN NATURE, PROVIDING INFORMATION TO CREDIT UNIONS ON ISSUES IMPACTING THE CREDIT UNION MOVEMENT. STILL ANOTHER SOURCE OF INFORMATION ARE THE VARIOUS PUBLICATIONS PUBLISHED PERIODICALLY TO MEMBER CREDIT UNIONS TO KEEP MEMBERS ABREAST OF CURRENT ISSUES, LAWS, REGULATIONS, ETC. THAT AFFECT CREDIT UNIONS. THE ASSOCIATION'S FULL-TIME COMPLIANCE STAFF ANSWER QUESTIONS AND WORK WITH CREDIT UNIONS ON ISSUES THAT AFFECT THEM DAILY, WHILE AT THE SAME TIME SERVING AS A LIAISON BETWEEN CREDIT UNIONS AND MANY REGULATORY AGENCIES SUCH AS NATIONAL CREDIT UNION ADMINISTRATION AND THE NEW YORK STATE BANKING DEPARTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Mellin President/ceo | Officer | 17.5 | $272,148 |
Henry Meier General Counsel | Officer | 31.5 | $174,268 |
Christopher Pajak VP Of Member Relations | 35 | $139,928 | |
Gregory Mastrangelo Chief Technology Officer | 8.75 | $38,652 | |
Edward Kovalefsky Chief Financial Officer | Officer | 7 | $34,629 |
Lori Mayer Director Of Human Resource | 8.75 | $29,408 |
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 | $2,022,949 |
| Investment income | $59,603 |
| 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 | $2,081,668 |
| 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. | $531,341 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $776,624 |
| Pension plan accruals and contributions | $23,258 |
| Other employee benefits | $39,670 |
| Payroll taxes | $83,107 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,438 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,710 |
| Advertising and promotion | $26,787 |
| Office expenses | $32,417 |
| Information technology | $142,182 |
| Royalties | $0 |
| Occupancy | $40,323 |
| Travel | $11,242 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,574 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,987 |
| Insurance | $21,093 |
| All other expenses | $45,000 |
| Total functional expenses | $2,232,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,846,888 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,000 |
| 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 | $120,244 |
| Net Land, buildings, and equipment | $79,686 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,380,952 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,477,770 |
| Accounts payable and accrued expenses | $1,778,247 |
| Grants payable | $0 |
| Deferred revenue | $1,403,862 |
| 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 | $5,721 |
| Total liabilities | $3,187,830 |
| Net assets without donor restrictions | $22,295,012 |
| Net assets with donor restrictions | $994,928 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $26,477,770 |
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