Cooperative Credit Union Association Inc
- Assets
- $11.2m
- Revenue
- $5.2m
- Investments
- $467.7k
- Employees
- 26
- Location
- Marlborough, MA
- Founding
- 03/2001
- Data as of
- 12/2022
- EIN
- 04-3403594
Organization Overview
Cooperative Credit Union Association Inc is located in Marlborough, MA. The organization was established in 2001. 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, Cooperative Credit Union Association Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cooperative Credit Union Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Cooperative Credit Union Association Inc generated $5.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEMBERS WITH SERVICES ON A LOCAL AND NATIONAL LEVEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SERVICES TO MEMBERS ON A LOCAL AND NATIONAL LEVEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roland Draper Board Chair | OfficerTrustee | 1 | $0 |
Anabela P Grenier Vice Chair | OfficerTrustee | 1 | $0 |
Fred Reinhardt 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Maurice W Dawkins Treasurer | OfficerTrustee | 1 | $0 |
A Scott Macknight Secretary | OfficerTrustee | 1 | $0 |
David Araujo Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,090 |
| 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 | $2,090 |
| Total Program Service Revenue | $3,103,496 |
| Investment income | $130,602 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$168,742 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,243,149 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| 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 | $2,279,084 |
| Pension plan accruals and contributions | $38,138 |
| Other employee benefits | $237,380 |
| Payroll taxes | $144,809 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,135 |
| Fees for services: Accounting | $53,869 |
| Fees for services: Lobbying | $203,862 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $248,425 |
| Office expenses | $53,422 |
| Information technology | $84,193 |
| Royalties | $0 |
| Occupancy | $276,701 |
| Travel | $183,734 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $231,322 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,501 |
| Insurance | $71,854 |
| All other expenses | $176,020 |
| Total functional expenses | $5,022,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,999,078 |
| Savings and temporary cash investments | $121,006 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $569,828 |
| Loans from Officers, Directors, or Controlling Persons | $1,583,256 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $204,226 |
| Net Land, buildings, and equipment | $128,790 |
| Investments—publicly traded securities | $1,978,550 |
| Investments—other securities | $467,723 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $157,708 |
| Total assets | $11,210,165 |
| Accounts payable and accrued expenses | $1,905,090 |
| Grants payable | $0 |
| Deferred revenue | $1,620,190 |
| 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 | $141,624 |
| Total liabilities | $3,666,904 |
| Net assets without donor restrictions | $7,503,606 |
| Net assets with donor restrictions | $39,655 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $11,210,165 |