Monmouth County Postal Employees Credit Union
- Assets
- $23.2m
- Revenue
- $446.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Red Bank, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 21-0649618
Organization Overview
Monmouth County Postal Employees Credit Union is located in Red Bank, NJ. As of 12/2023, Monmouth County Postal Employees Credit Union employed 3 individuals. Monmouth County Postal Employees Credit Union 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, Monmouth County Postal Employees Credit Union generated $446.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $587.2k during the year ending 12/2023. 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
THE CREDIT UNION'S PURPOSE IS TO PROMOTE THRIFT AMONG ITS MEMBERSHIP. THE CREDIT UNION PROVIDES A WIDE RANGE OF FINANCIAL SERVICES IN ORDER TO ASSIST MEMBERS IN ACHIEVING THEIR FINANCIAL GOALS AND STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FINANCIAL SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Rubano Chairperson | OfficerTrustee | 2 | $0 |
James Maida Treasurer | OfficerTrustee | 2 | $0 |
Joseph Dugan Vice Chairman | OfficerTrustee | 2 | $0 |
Alan Linsangan Secretary | OfficerTrustee | 2 | $0 |
Phillip Costa Board Of Directors | Trustee | 2 | $0 |
Eric Turoff Board Of Directors | Trustee | 2 | $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 | $16,805 |
| Investment income | $429,282 |
| 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 | $446,087 |
| 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. | $84,630 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,715 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,229 |
| Fees for services: Accounting | $20,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $204,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,246 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $133,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,131 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $587,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,822,498 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,542,092 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $142,155 |
| Investments—publicly traded securities | $7,426,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $240,729 |
| Total assets | $23,174,344 |
| Accounts payable and accrued expenses | $5,574 |
| 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 | $18,586,278 |
| Total liabilities | $18,591,852 |
| 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 | $4,582,492 |
| Total liabilities and net assets/fund balances | $23,174,344 |