Holy Rosary Regional Credit Union
- Assets
- $413.2m
- Revenue
- $16.9m
- Investments
- $7.2m
- Employees
- 115
- Location
- Rochester, NH
- Founding
- 05/1980
- Data as of
- 12/2022
- EIN
- 02-0272024
Organization Overview
Holy Rosary Regional Credit Union is located in Rochester, NH. The organization was established in 1980. 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 12/2022, Holy Rosary Regional Credit Union employed 115 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Holy Rosary Regional 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 12/2022, Holy Rosary Regional Credit Union generated $16.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $14.4m during the year ending 12/2022. While expenses have increased by 5.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BE A RESPONSIBLE, COMMUNITY-FOCUSED CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF MEMBERS' SHARE, DEPOSIT, AND LOAN ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Flanders Chairman | OfficerTrustee | 2 | $0 |
Ronald Vachon Vice Chairman | OfficerTrustee | 2 | $0 |
Suzanne Wilkins Director | Trustee | 2 | $0 |
Kathleen Simoneau Secretary | OfficerTrustee | 2 | $0 |
Richard Brunelle Director | Trustee | 2 | $0 |
Jean Grover Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tla Inc Architect/proj Mgmt | 12/30/16 | $177,651 |
Benchmark Construction | 12/30/16 | $390,309 |
Darci Creative Inc Marketing And Advertising | 12/30/16 | $131,398 |
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 | $15,030,763 |
| Investment income | $1,818,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,684 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,865,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,287,357 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,234,687 |
| Pension plan accruals and contributions | $106,308 |
| Other employee benefits | $676,041 |
| Payroll taxes | $418,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $116,680 |
| Fees for services: Accounting | $111,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $455,046 |
| Office expenses | $90,514 |
| Information technology | $988,578 |
| Royalties | $0 |
| Occupancy | $292,429 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,110 |
| Interest | $1,027,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $873,430 |
| Insurance | $138,915 |
| All other expenses | $766,145 |
| Total functional expenses | $14,350,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,624,371 |
| Savings and temporary cash investments | $128,229,288 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,600 |
| Loans from Officers, Directors, or Controlling Persons | $6,589,328 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $256,057,596 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $797,161 |
| Net Land, buildings, and equipment | $6,052,284 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,174,827 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,617,769 |
| Total assets | $413,178,224 |
| Accounts payable and accrued expenses | $1,529,076 |
| 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 | $383,831,759 |
| Total liabilities | $385,360,835 |
| 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 | $27,817,389 |
| Total liabilities and net assets/fund balances | $413,178,224 |