Brookline Municipal Credit Union
- Assets
- $46.6m
- Revenue
- $945.9k
- Investments
- $64.5k
- Employees
- 6
- Location
- Brookline, MA
- Founding
- 06/1944
- Data as of
- 12/2021
- EIN
- 04-2041245
Organization Overview
Brookline Municipal Credit Union is located in Brookline, MA. The organization was established in 1944. 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 12/2021, Brookline Municipal Credit Union employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brookline Municipal 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, Brookline Municipal Credit Union generated $945.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $919.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 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
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE OF MEMBER SHARE AND DEPOSIT ACCOUNTS. NUMBER OF ACCOUNTS IS 4,349. MAKING OF LOANS TO MEMBERS. NUMBER OF LOAN ACCOUNTS IS 330.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul J Demaio President An | Officer | 40 | $102,963 |
Elizabeth A Mcdonald Treasurer/cl | OfficerTrustee | 2 | $3,300 |
Daniel C O'leary Assistant Tr | OfficerTrustee | 2 | $0 |
Francis M Moroney Chairman | OfficerTrustee | 2 | $0 |
Majorie Lalli 1st Vice Cha | OfficerTrustee | 2 | $0 |
Mathew S Baronas 2nd Vice Cha | 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 | $383,621 |
| Investment income | $417,564 |
| 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 | $945,897 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $144,793 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $222,511 |
| Pension plan accruals and contributions | $8,420 |
| Other employee benefits | $29,281 |
| Payroll taxes | $27,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,946 |
| Office expenses | $38,733 |
| Information technology | $127,407 |
| Royalties | $0 |
| Occupancy | $59,580 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,071 |
| Interest | $106,210 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,483 |
| Insurance | $10,664 |
| All other expenses | $1,223 |
| Total functional expenses | $919,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,444 |
| Savings and temporary cash investments | $30,084,428 |
| 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 | $10,780,728 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,478 |
| Net Land, buildings, and equipment | $27,073 |
| Investments—publicly traded securities | $4,799,673 |
| Investments—other securities | $64,500 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $529,625 |
| Total assets | $46,577,949 |
| Accounts payable and accrued expenses | $32,006 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $39,377 |
| 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 | $40,895,637 |
| Total liabilities | $40,967,020 |
| 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 | $5,610,929 |
| Total liabilities and net assets/fund balances | $46,577,949 |
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|---|---|---|
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Metro Credit Union Chelsea, MA | $2,510,941,078 | $92,937,477 |
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Sunmark Credit Union Latham, NY | $1,009,786,367 | $61,777,524 |
Jeanne Darc Credit Union Lowell, MA | $1,792,528,408 | $59,293,841 |
Vermont State Employees Credit Union Montpelier, VT | $1,088,463,473 | $48,370,084 |
Harvard University Employees Credit Union Cambridge, MA | $1,037,994,144 | $42,695,601 |
Sharon & Cresent United Credit Union Sharon, MA | $1,214,608,643 | $40,886,511 |
St Annes Credit Union Of Fall River Mass Fall River, MA | $1,266,762,131 | $34,865,858 |
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