Granite Hills Credit Union
- Assets
- $38.6m
- Revenue
- $1.4m
- Investments
- $18.1m
- Employees
- 10
- Location
- Barre, VT
- Founding
- Data as of
- 12/2016
- EIN
- 22-2610446
Organization Overview
Granite Hills Credit Union is located in Barre, VT. As of 12/2016, Granite Hills Credit Union employed 10 individuals. Granite Hills 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 12/2016, Granite Hills Credit Union generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A STATE CHARTERED CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES RELATE TO DAILY OPERATIONS OF A LOCALLY CONTROLLED, FULL SERVICE CREDIT UNION. WE MAKE LOANS, ACCEPT DEPOSIT ACCOUNTS, AND CONTINUALLY AND EFFICIENTLY PROVIDE OTHER RELEVANT FINANCIAL SERVICES TO A MEMBER BASE OF APPROXIMATELY 3,000 INDIVIDUALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan M Poczobut Ceo/treasurer | OfficerTrustee | 40 | $158,546 |
Bethany Chenette Board Member | Trustee | 0 | $0 |
Patricia Shedd Vice Chairperson | Trustee | 0 | $0 |
Michael Pinkans Board Member | Trustee | 0 | $0 |
Timothy Grenon Secretary | Trustee | 0 | $0 |
Rosemary Averill Board Member | Trustee | 0 | $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 | $1,064,197 |
| Investment income | $279,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,716 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,369,714 |
| 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. | $158,546 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $308,543 |
| Pension plan accruals and contributions | $17,092 |
| Other employee benefits | $96,672 |
| Payroll taxes | $34,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $38,930 |
| Office expenses | $14,805 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,594 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10 |
| Interest | $88,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,883 |
| Insurance | $26,500 |
| All other expenses | $36,218 |
| Total functional expenses | $1,350,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,145,586 |
| Savings and temporary cash investments | $2,962,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $108,556 |
| 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 | $45,484 |
| Net Land, buildings, and equipment | $1,603,307 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $18,136,487 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,634,833 |
| Total assets | $38,636,898 |
| Accounts payable and accrued expenses | $97,113 |
| 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 | $33,619,812 |
| Total liabilities | $33,716,925 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $865,742 |
| Total net assets or fund balances | $4,919,973 |
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