Waltham Municipal Employees Credit Union
- Assets
- $0.0
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 4
- Location
- Waltham, MA
- Founding
- 12/1951
- Data as of
- 12/2020
- EIN
- 04-2281295
Organization Overview
Waltham Municipal Employees Credit Union is located in Waltham, MA. The organization was established in 1951. 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 12/2020, Waltham Municipal Employees Credit Union employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waltham Municipal Employees 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 12/2020, Waltham Municipal Employees Credit Union generated $20.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (30.0%) each year. All expenses for the organization totaled $706.7k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION MAINTENANCE OF MEMBERS ACCOUNTS
Describe the Organization's Program Activity:
Part 3
MAINTENANCE OF MEMBERS' SHARE ACCOUNTS - NUMBER OF ACCOUNTS 930
MAINTENANCE OF MEMBERS' LOANS - NUMBER OF LOANS 190
BENIFITS PAID FOR MEMBERS - LOAN SERVICING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wilfred J Petipas Chairman | 0 | $0 | |
Michael J Davis Treasurer | 25 | $48,836 | |
William R Macdonald Asst Treasurer | 10 | $29,362 | |
Barry P Sullivan Clerkloan Officer | 5 | $13,098 | |
Dennis P Quinn Director | 0 | $0 | |
Stephen P Mahoney Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $9,355 |
| Membership dues | $0 |
| Investment income | $11,350 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $20,705 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $65 |
| Salaries, other compensation, and employee benefits | $149,042 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $533 |
| Other expenses | $557,013 |
| Total expenses | $706,653 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Total liabilities | $0 |
| Net assets or fund balances | $0 |