Northeast Schools And Hospital Credit Union
- Assets
- $6.3m
- Revenue
- $236.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Newport, VT
- Founding
- Data as of
- 12/2021
- EIN
- 03-0259968
Organization Overview
Northeast Schools And Hospital Credit Union is located in Newport, VT. As of 12/2021, Northeast Schools And Hospital Credit Union employed 6 individuals. Northeast Schools And Hospital 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 12/2021, Northeast Schools And Hospital Credit Union generated $236.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $223.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 2 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR MEMBERS INCLUDING LOANS AT AFFORDABLE RATES AND ATTRACTIVE RATES ON DEPOSITS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR MEMBERS INCLUDING LOANS AT AFFORDABLE RATES AND ATTRACTIVE RATES ON DEPOSITS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linn Elko Treasurer | OfficerTrustee | 40 | $60,336 |
Elizabeth Perkins Employee | $20,019 | ||
Paula Bugbee Employee | $9,449 | ||
Tracy Messier Employee | $3,746 | ||
Patricia Clark President | OfficerTrustee | 2 | $0 |
Sally Fraize Secretary | OfficerTrustee | 2 | $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 | $231,221 |
| Investment income | $976 |
| 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 | $4,080 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $236,277 |
| 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 | $10,736 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $116,984 |
| Pension plan accruals and contributions | $3,085 |
| Other employee benefits | $5,057 |
| Payroll taxes | $10,620 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,116 |
| Fees for services: Accounting | $25,693 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,374 |
| Office expenses | $15,032 |
| Information technology | $16,833 |
| Royalties | $0 |
| Occupancy | $13,225 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,163 |
| Interest | $0 |
| Payments to affiliates | $12,304 |
| Depreciation, depletion, and amortization | $1,414 |
| Insurance | $6,645 |
| All other expenses | $0 |
| Total functional expenses | $223,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,208,521 |
| Savings and temporary cash investments | $1,836,306 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $36,384 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,124,451 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,286 |
| Total assets | $6,266,622 |
| Accounts payable and accrued expenses | $6,072 |
| 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 | $0 |
| Total liabilities | $6,072 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,694,837 |
| Paid-in or capital surplus, or land, building, or equipment fund | $127,928 |
| Retained earnings, endowment, accumulated income, or other funds | $437,785 |
| Total liabilities and net assets/fund balances | $6,266,622 |
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