Montauk Credit Union
- Assets
- $162.4m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 14
- Location
- New York, NY
- Founding
- Data as of
- 12/2015
- EIN
- 11-1096090
Organization Overview
Montauk Credit Union is located in New York, NY. As of 12/2015, Montauk Credit Union employed 14 individuals. Montauk Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT UNION
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gina Marie Boyle Controller/cfo | 40 | $128,583 | |
Michael Turano Loan Supervisory | 40 | $127,083 | |
Richard Dichiara Interim CEO | 40 | $131,250 | |
Louis Jimenez Ceo/treasurer | 40 | $484,269 |
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 | $7,722,824 |
| Investment income | $4,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,156 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,797,075 |
| 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. | $625,231 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,491 |
| Pension plan accruals and contributions | $24,214 |
| Other employee benefits | $6,751 |
| Payroll taxes | $66,816 |
| Fees for services: Management | $2,500 |
| Fees for services: Legal | $45,827 |
| Fees for services: Accounting | $47,592 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $266,236 |
| Advertising and promotion | $20,251 |
| Office expenses | $428,601 |
| Information technology | $49,412 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $44,949 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,585 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,868 |
| Insurance | $157,455 |
| All other expenses | $22,939 |
| Total functional expenses | $25,488,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,756,331 |
| Savings and temporary cash investments | $100,000 |
| 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 | $144,984,121 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $721,890 |
| Net Land, buildings, and equipment | $2,372,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,496,648 |
| Total assets | $162,431,047 |
| Accounts payable and accrued expenses | $518,726 |
| 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 | $159,086,751 |
| Total liabilities | $159,605,477 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,825,570 |