Maine State Credit Union is located in Augusta, ME. As of 12/2019, Maine State Credit Union employed 98 individuals.
For the year ending 12/2019, Maine State Credit Union generated $20.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $17.9m during the year ending 12/2019. While expenses have increased by 7.1% per year over the past 5 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
2019
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 30,222 MEMBERS AS OF 12/31/2019. MEMBERS HAVE ACCESS TO A WIDE VARIETY OF LOW COST, HIGH QUALITY SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tucker Cole President/ceo | Officer | 40 | $320,734 |
Deborah L Sparrow Svp/chief Lending Officer | Officer | 40 | $183,238 |
Mark Young Svp/chief Operations Offic | Officer | 40 | $177,371 |
Erin Campbell Svp/chief Financial Office | Officer | 40 | $124,859 |
Angela Harvey Director Of Human Resources | 40 | $116,549 | |
Stephen Wallace VP Of Lending And Branch Administration | 40 | $105,524 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Element Design Consulting | 12/30/19 | $318,178 |
Jack Henry & Associates Inc Financial Services | 12/30/19 | $270,295 |
Synergent Data Processing | 12/30/19 | $1,308,762 |
Workgroup Technology Partners Inc Managed It Services | 12/30/19 | $221,740 |
Wh Demmons Inc Hvac Firm | 12/30/19 | $259,727 |
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 | $15,455,697 |
Investment income | $1,844,009 |
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 | $20,717,237 |
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 | $3,474,336 |
Compensation of current officers, directors, key employees. | $915,672 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,898,402 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $2,164,952 |
Payroll taxes | $0 |
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 | $1,061,233 |
Advertising and promotion | $0 |
Office expenses | $2,481,384 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $891,608 |
Travel | $272,144 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $22,137 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $120,509 |
Total functional expenses | $17,924,353 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,339,457 |
Savings and temporary cash investments | $70,631,962 |
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 | $322,810,995 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $8,469,954 |
Investments—publicly traded securities | $32,451,582 |
Investments—other securities | $110,000 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $15,144,415 |
Total assets | $453,958,365 |
Accounts payable and accrued expenses | $2,120,699 |
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 | $395,936,388 |
Total liabilities | $398,057,087 |
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 | $55,901,278 |
Total liabilities and net assets/fund balances | $453,958,365 |
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Noble And Greenough School Dedham, MA | $296,315,709 | $52,902,949 |
Family Health Center Of Worcester Inc Worcester, MA | $21,349,121 | $51,005,573 |
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 |
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