Boston Firefighters Credit Union
- Assets
- $398.0m
- Revenue
- $13.8m
- Investments
- $52.7m
- Employees
- 49
- Location
- Dorchester, MA
- Founding
- 07/1950
- Data as of
- 12/2021
- EIN
- 04-2077206
Organization Overview
Boston Firefighters Credit Union is located in Dorchester, MA. The organization was established in 1950. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2021, Boston Firefighters Credit Union employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Firefighters 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, Boston Firefighters Credit Union generated $13.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $11.2m during the year ending 12/2021. While expenses have increased by 6.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SERVICES TO OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SERVICES TO OUR MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John B Winne CEO | Officer | 35 | $388,998 |
Cathy Boucher Evp | Officer | 35 | $215,273 |
Cristina Prentis Chief Financial Officer | Officer | 35 | $160,422 |
Kaitryn Thornton VP Of Lending | Officer | 35 | $129,891 |
Andy Puga VP Of Digital Strategy | Officer | 35 | $127,271 |
Wendy Reiter Controller | 35 | $111,779 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mastercard International Card Services | 12/30/20 | $122,945 |
Elan Financial Services Card Services | 12/30/20 | $129,021 |
Mastercard International Card Services | 12/30/20 | $122,945 |
Elan Financial Services Card Services | 12/30/20 | $129,021 |
Pscu Credit Card Servicer | 12/30/20 | $243,192 |
Cocc Data Processor | 12/30/20 | $545,962 |
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 | $13,161,529 |
| Investment income | $671,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,830,110 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,151,312 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,412,187 |
| Pension plan accruals and contributions | $436,939 |
| Other employee benefits | $424,450 |
| Payroll taxes | $261,197 |
| Fees for services: Management | $70,796 |
| Fees for services: Legal | $22,084 |
| Fees for services: Accounting | $96,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,980 |
| Fees for services: Other | $0 |
| Advertising and promotion | $452,975 |
| Office expenses | $278,553 |
| Information technology | $1,091,532 |
| Royalties | $0 |
| Occupancy | $296,984 |
| Travel | $53,280 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150,000 |
| Interest | $2,310,758 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $263,637 |
| Insurance | $202,229 |
| All other expenses | $73,603 |
| Total functional expenses | $11,184,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,149,174 |
| Savings and temporary cash investments | $36,561,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,656,001 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $296,227,169 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $271,265 |
| Net Land, buildings, and equipment | $3,408,006 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $52,703,546 |
| Investments—program-related | $500,000 |
| Intangible assets | $0 |
| Other assets | $4,539,444 |
| Total assets | $398,016,214 |
| Accounts payable and accrued expenses | $1,332,142 |
| 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 | $5,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $350,034,859 |
| Total liabilities | $356,367,001 |
| 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 | $41,649,213 |
| Total liabilities and net assets/fund balances | $398,016,214 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Boston Firefighters Credit Union has recieved totaling $37,500.
| Awarding Organization | Amount |
|---|---|
The Red Sox Foundation Inc Boston, MA PURPOSE: SCHED I SUPPLEMENTAL INFORMATION | $30,000 |
Harvard Pilgrim Health Care Foundation Inc Canton, MA PURPOSE: SUPPORT FOR FAMILIES OF DECEASED BOSTON FIREFIGHTERS | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Firefighters Credit Union Dorchester, MA | $398,016,214 | $13,830,110 |
East Farmingdale Volunteer Fire Co Inc East Farmingdale, NY | $16,218,094 | $4,768,607 |
Plainview Volunteer Fire Dept Inc Plainview, NY | $40,057,209 | $5,342,646 |
Port Washington Fire Department Inc Port Washington, NY | $4,314,426 | $4,561,855 |
International Association Of Fire Fighters Boston, MA | $7,227,013 | $4,228,502 |
North Amityville Fire Company Inc Amityville, NY | $5,750,428 | $3,153,661 |
Vigilant Engine & Hook & Ladder Co Inc Great Neck, NY | $6,071,973 | $2,993,685 |
Alert Engine Hook And Ladder And Hose Company No One Inc Great Neck, NY | $8,829,373 | $2,819,438 |
Brookfield Volunteer Fire Company Inc Brookfield, CT | $3,595,891 | $2,413,051 |
North Lindenhurst Volunteer Fire Department Inc Lindenhurst, NY | $5,759,800 | $2,293,245 |
Orchard Park Fire District - Ems Inc Orchard Park, NY | $913,599 | $2,112,787 |
Rescue Hook & Ladder Company No 1 Roslyn Heights, NY | $12,782,014 | $1,956,468 |