New York Credit Union Association Inc
- Assets
- $315.0k
- Revenue
- $164.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Albany, NY
- Founding
- 07/1991
- Data as of
- 12/2021
- EIN
- 91-1996137
Organization Overview
New York Credit Union Association Inc is located in Albany, NY. The organization was established in 1991. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. New York 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 12/2021, New York Credit Union Association Inc generated $164.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $180.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) 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
THE ASSOCIATION'S 13 CHAPTERS REFLECT THE GRASSROOTS EFFORTS OF NY CREDIT UNIONS. CHAPTERS GENERATE FUNDS FROM DINNER MEETINGS, SEMINARS, EVENTS AND AN ANNUAL ALLOCATION FROM THE ASSOCIATION. FUNDS ARE EXPENDED ON MEETINGS, EDUCATION, CONSUMER AWARENESS, ADVOCACY, SCHOLARSHIPS AND CHARITABLE CAUSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE REVENUE INCLUDES MEMBERSHIP SERVICES WHICH ENCOMPASSES THE EDUCATIONAL SESSIONS THAT PROVIDE PROFESSIONAL TRAINING AND EDUCATION FOR CREDIT UNION MANAGEMENT, EMPLOYEES, AND VOLUNTEERS. COMMUNITY EVENTS ARE ALSO HELD TO PROMOTE CREDIT UNION AWARENESS AND MEMBERSHIP AS WELL AS CONSUMER FINANCIAL EDUCATION. ANNUAL MEETINGS FOR THE CHAPTERS ARE ALSO HELD FOR THE ELECTION OF OFFICERS. ADDITIONALLY, DINNER MEETINGS AND WORKSHOPS ARE HELD TO PROVIDE SPEAKERS ON PERTINENT ISSUES AS WELL AS A FORUM FOR MEMBERS TO EXCHANGE INFORMATION AND DISCUSS REGULATORY ISSUES. GOLF EVENTS AND SIMILAR FUNDRAISING ACTIVITIES ARE HELD IN SEVERAL CHAPTERS AS A MEANS OF FUNDING CHARITABLE DONATIONS IN THEIR COMMUNITIES AS WELL AS COLLEGE SCHOLARSHIP FOR GRADUATING HIGH SCHOOL SENIORS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Suave Central New York Chapter Treasurer | Trustee | 0 | $0 |
Catherine Benson Finger Lakes Chapter President | Trustee | 0 | $0 |
Robin Myers Metropolitan Chapter Treasurer | Trustee | 0 | $0 |
Patrick Gallagher Utica-Rome Chapter Treasurer | Trustee | 0 | $0 |
Kay Murray Southern Tier Chapter Treasurer | Trustee | 0 | $0 |
Vincent Dambroso Westchester-Rockland Chapter Treasurer | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $40,615 |
| 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 | $40,615 |
| Total Program Service Revenue | $123,147 |
| Investment income | $295 |
| 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 | $164,057 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $87,853 |
| Grants and other assistance to domestic individuals. | $24,150 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $412 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $180,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $314,997 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $314,997 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $314,997 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $314,997 |
Grants Awarded
Over the last fiscal year, New York Credit Union Association Inc has awarded $72,750 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Nesconset, NY PURPOSE: Charitable Donation | $35,000 |
Westbury, NY PURPOSE: Charitable Donation | $30,000 |
Albany, NY PURPOSE: Charitable Donation | $7,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trumark Financial Credit Union Fort Washington, PA | $2,771,242,877 | $109,685,822 |
Metro Credit Union Chelsea, MA | $2,510,941,078 | $92,937,477 |
American Eagle Financial Credit Union Incorporated East Hartford, CT | $2,355,398,570 | $80,581,273 |
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 |
Belco Community Credit Union Harrisburg, PA | $811,601,260 | $40,862,040 |
St Annes Credit Union Of Fall River Mass Fall River, MA | $1,266,762,131 | $34,865,858 |
Sikorsky Financial Credit Union Inc Stratford, CT | $1,094,000,567 | $34,623,993 |
Leominster Credit Union Leominster, MA | $813,719,349 | $30,410,755 |