Cport Credit Union
- Assets
- $219.0m
- Revenue
- $12.4m
- Investments
- $1.8m
- Employees
- 94
- Location
- Portland, ME
- Founding
- Data as of
- 12/2018
- EIN
- 01-0079380
Organization Overview
Cport Credit Union is located in Portland, ME. As of 12/2018, Cport Credit Union employed 94 individuals.
For the year ending 12/2018, Cport Credit Union generated $12.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $10.4m during the year ending 12/2018. While expenses have increased by 8.8% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEMBERS WITH SAVINGS AND LOAN SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREDIT UNION HAS 23,168 MEMBERS AS OF 12/31/2018. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene Ardito President & CEO | OfficerTrustee | 40 | $406,770 |
Christian Vandyck Svp/ General Counsel | Officer | 40 | $110,687 |
Kelsey Marquis VP Of Finance | Officer | 40 | $79,067 |
James Cloutier Treasurer | OfficerTrustee | 1 | $0 |
Mark Fernandez Vice Chairman | OfficerTrustee | 1 | $0 |
Scott Paquet Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Synergent Core Processing And Related Services | 12/30/18 | $1,065,517 |
Systems Engineering Information Tech. Services | 12/30/18 | $303,582 |
Malauzai Software Inc Online Banking Provider | 12/30/18 | $231,326 |
Portland Safe Atm Purchases And Maintenance | 12/30/18 | $218,819 |
Landry French Construction Contractors For New Branch | 12/30/18 | $1,641,472 |
View All Vendors
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 | $11,450,617 |
| Investment income | $698,719 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,279 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,416,693 |
| 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 | $978,628 |
| Compensation of current officers, directors, key employees. | $642,647 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,950,687 |
| Pension plan accruals and contributions | $104,258 |
| Other employee benefits | $318,762 |
| Payroll taxes | $261,963 |
| 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 | $841,843 |
| Advertising and promotion | $327,489 |
| Office expenses | $397,232 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $417,736 |
| Travel | $85,692 |
| 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 | $417,509 |
| Insurance | $61,159 |
| All other expenses | $99,890 |
| Total functional expenses | $10,356,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,631,093 |
| Savings and temporary cash investments | $36,848,198 |
| 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 | $158,586,968 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,716,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,803,615 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,405,977 |
| Total assets | $218,992,661 |
| Accounts payable and accrued expenses | $2,604,196 |
| 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 | $195,114,943 |
| Total liabilities | $197,719,139 |
| 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 | $21,273,522 |
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Peabody Essex Museum Inc Salem, MA | $744,344,002 | $55,752,290 |
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Pinkerton Academy Derry, NH | $84,999,106 | $50,814,999 |
Rivier University Nashua, NH | $127,299,502 | $50,041,895 |
Vna Home & Hospice South Portland, ME | $12,667,197 | $48,586,531 |
Down East Community Hospital Machias, ME | $34,835,177 | $50,232,566 |
Springwell Inc Waltham, MA | $21,002,244 | $49,797,029 |
Douglas A Thom Clinic Inc Natick, MA | $16,447,378 | $47,901,525 |
Beth Israel Lahey Health Inc Hcsr Cambridge, MA | $36,494,434 | $49,576,092 |
Houlton Regional Hospital Houlton, ME | $23,834,079 | $47,621,728 |