Northern Lights Federal Credit Union is located in St Johnsbury, VT. The organization was established in 1986. 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 12/2016, Northern Lights Federal Credit Union employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Lights Federal Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE A STATE CHARTERED CREDIT UNION FOR THE BENEFIT OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES RELATE TO DAILY OPERATIONS OF A LOCALLY CONTROLLED, FULL SERVICE CREDIT UNION. PROVIDING SERVICES FOR LOANS, DEPOSIT ACCOUNTS, AND OTHER RELEVANT FINANCIAL SERVICES TO A MEMBER BASE OF APPROXIMATELY 3,410 INDIVIDUALS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
James A Glidden Board Member | Trustee | 0.5 | $0 |
David Wiley Board Member | Trustee | 0.5 | $0 |
Janet Lumbra Vice Chair | Trustee | 0.5 | $0 |
Rita St Arnauld Treasurer | OfficerTrustee | 50 | $109,557 |
Todd Cohen Chair | Trustee | 0.5 | $0 |
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 | $873,488 |
Investment income | $6,924 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $5,527 |
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 | $1,197,075 |
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 | $51,674 |
Compensation of current officers, directors, key employees. | $109,557 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $205,080 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $5,774 |
Other employee benefits | $44,953 |
Payroll taxes | $27,298 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $27,145 |
Office expenses | $58,467 |
Information technology | $129,089 |
Royalties | $0 |
Occupancy | $34,724 |
Travel | $9,164 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $684 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $68,966 |
Insurance | $19,873 |
All other expenses | $77,587 |
Total functional expenses | $1,114,392 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,218,247 |
Savings and temporary cash investments | $51,690 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $300 |
Loans from Officers, Directors, or Controlling Persons | $223,891 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $17,045,461 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $100,256 |
Net Land, buildings, and equipment | $1,491,425 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $218,104 |
Total assets | $20,349,374 |
Accounts payable and accrued expenses | $75,218 |
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 | $18,295,490 |
Total liabilities | $18,370,708 |
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 | $0 |
Total net assets or fund balances | $1,978,666 |