SEAPORT CREDIT UNION

Address
336 LAFAYETTE STREET
SALEM, MA 01970
Contact
Phone: +1 (978) 744-1153
Nonprofit
NTEE: W61 - Credit Unions
EIN: 04-2015276

Mission

CREDIT UNION- THRIFT SERVICES
 20142013201220112010
Basic features of the organization
Metropolitan statistical area1123
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$335,416.00$577,722.00$409,888.00$430,678.00$342,536.00
Sum of reportable (W2/1099) compensation$300,262.00$505,572.00$334,090.00$355,891.00$285,489.00
Number of employees1622171824
Number of people compensated >$100k11111
Number of volunteers78888
Number of highly compensated contractors11   
Personnel
Homan, Peter
Title 1st Vice Chair1st Vice Chair1st Vice Chair1st Vice Chair
Name of key/compensated person PETER HOMANPETER HOMANPETER HOMANPETER HOMAN
Position of compensated person
Current individual trustee or director TrueTrueTrueTrue
Current officer TrueTrueTrueTrue
Average hours per week working for org 1.001.001.001.00
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Average hours per week working for related orgs 0.000.00  
Julien, J
TitleChairmanTreasurerTreasurerTreasurerTreasurer
Name of key/compensated personJ RICHARD JULIENJ RICHARD JULIENJ RICHARD JULIENJ RICHARD JULIENJ RICHARD JULIEN
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org2.002.002.002.002.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Keane, William
TitleCFOCFOCFOCFOCFO
Name of key/compensated personWILLIAM A KEANEWILLIAM A KEANEWILLIAM A KEANEWILLIAM A KEANEWILLIAM A KEANE
Position of compensated person
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org40.0040.0040.0040.0040.00
Reportable compensation from org$67,673.00$89,953.00$86,978.00$96,659.00$82,751.00
Other comp, non-reportable, from org and related orgs$16,361.00$22,170.00$24,146.00$24,013.00$21,885.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Labrie, Patricia
TitleDirectorDirectorDirectorDirectorDirector
Name of key/compensated personPATRICIA LABRIEPATRICIA LABRIEPATRICIA LABRIEPATRICIA LABRIEPATRICIA LABRIE
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Lamontagne, David
Title ChairmanChairmanChairmanChairman
Name of key/compensated person DAVID LAMONTAGNEDAVID LAMONTAGNEDAVID LAMONTAGNEDAVID LAMONTAGNE
Position of compensated person
Current individual trustee or director TrueTrueTrueTrue
Current officer TrueTrueTrueTrue
Average hours per week working for org 1.501.501.501.50
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Average hours per week working for related orgs 0.000.00  
Levesque, Paul
TitleVice Chairman2nd ViceChairma2nd ViceChairma2nd ViceChairma2nd ViceChairma
Name of key/compensated personPAUL LEVESQUEPAUL LEVESQUEPAUL LEVESQUEPAUL LEVESQUEPAUL LEVESQUE
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Murphy, John
TitlePresident & CEOPresident & CEO   
Name of key/compensated personJOHN MURPHYJOHN MURPHY   
Position of compensated person
Current officerTrueTrue   
Average hours per week working for org40.0040.00   
Reportable compensation from org$136,413.00$11,281.00   
Other comp, non-reportable, from org and related orgs$1,370.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs0.000.00   
Nadeau, Marcel
TitleDirectorDirectorDirectorDirectorDirector
Name of key/compensated personMARCEL NADEAUMARCEL NADEAUMARCEL NADEAUMARCEL NADEAUMARCEL NADEAU
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.501.501.501.501.50
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Rausch, Lawrence
TitleDirectorDirectorDirectorDirectorDirector
Name of key/compensated personLAWRENCE RAUSCHLAWRENCE RAUSCHLAWRENCE RAUSCHLAWRENCE RAUSCHLAWRENCE RAUSCH
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Shea, Timothy
TitleDirector    
Name of key/compensated personTIMOTHY SHEA    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org1.00    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs0.00    
Spychalski, Robert
TitleTreasurerDirectorDirectorDirectorDirector
Name of key/compensated personROBERT G SPYCHALSKIROBERT G SPYCHALSKIROBERT G SPYCHALSKIROBERT G SPYCHALSKIROBERT G SPYCHALSKI
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrue    
Average hours per week working for org1.001.001.001.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Tarr, Patricia
Title OPERATIONS MGROPERATIONS MGROPERATIONS MGROPERATIONS MGR
Name of key/compensated person PATRICIA TARRPATRICIA TARRPATRICIA TARRPATRICIA TARR
Position of compensated person
Current officer TrueTrueTrueTrue
Average hours per week working for org 40.0040.0040.0040.00
Reportable compensation from org $58,862.00$57,073.00$61,703.00$55,951.00
Other comp, non-reportable, from org and related orgs $14,327.00$15,712.00$15,392.00$9,911.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Average hours per week working for related orgs 0.000.00  
Warren, Patricia
TitlePresident & CEOPresident & CEOPresident & CEOPresident & CEOPresident & CEO
Name of key/compensated personPATRICIA WARRENPATRICIA WARRENPATRICIA WARRENPATRICIA WARRENPATRICIA WARREN
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org40.0040.0040.0040.0040.00
Reportable compensation from org$37,200.00$273,091.00$120,261.00$120,512.00$117,307.00
Other comp, non-reportable, from org and related orgs$5,057.00$19,713.00$18,471.00$20,621.00$18,842.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Waugh, Ann
TitleCLOVP LENDINGVP LENDINGVP LENDINGVP LENDING
Name of key/compensated personANN MARIE WAUGHANN MARIE WAUGHANN MARIE WAUGHANN MARIE WAUGHANN MARIE WAUGH
Position of compensated person
Current individual trustee or director    True
Current officerTrueTrueTrueTrueTrue
Average hours per week working for org40.0040.0040.0040.0040.00
Reportable compensation from org$58,976.00$72,385.00$69,778.00$77,017.00$29,480.00
Other comp, non-reportable, from org and related orgs$12,366.00$15,939.00$17,468.00$16,894.00$4,324.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00  
Purpose: mission, activities, & accomplishments
Mission or significant activitiesCREDIT UNION- THRIFT SERVICESCREDIT UNION- THRIFT SERVICESCREDIT UNION- THRIFT SERVICESCREDIT UNION- THRIFT SERVICESCREDIT UNION- THRIFT SERVICES
Program service expenses, total$184,969.00$206,581.00$240,907.00$294,424.00$423,979.00
Programs, including revenue & expenses
MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF ACCOUNTS 1,070.
Program revenue    $1,860,973.00
Program description    MAINTENANCE OF MEMBERS' LOAN ACCOUNTS. NUMBER OF ACCOUNTS 1,161.
MAINTENANCE OF MEMBERS' SHARE AND DEPOSIT ACCOUNTS AND THE PAYMENT OF INTEREST THEREON. NUMBER OF ACCOUNTS 5,719.
Program description    MAINTENANCE OF MEMBERS' SHARE AND DEPOSIT ACCOUNTS AND THE PAYMENT OF INTEREST THEREON. NUMBER OF ACCOUNTS 6,101.
Financial data
Revenue
Total revenue$1,935,597.00$2,002,200.00$2,410,892.00$2,317,398.00$2,628,125.00
Revenue from contributions (total)$0.00$0.00$0.00$0.00$0.00
Investment income, current yr$378,556.00$371,255.00$624,813.00$444,444.00$462,802.00
Total revenue from grants, etc., current yr$0.00$0.00$0.00$0.00$0.00
Total unrelated business revenue$3,128.00$3,577.00$3,502.00$3,671.00$6,482.00
Other revenue, current yr$310,760.00$331,422.00$308,445.00$266,935.00$304,350.00
Net unrelated business taxable revenue-$8,549.00-$6,127.00-$6,200.00-$2,396.00-$8,066.00
Program service revenue (total)$1,246,281.00$1,299,523.00$1,477,634.00$1,606,019.00$1,860,973.00
Gross receipts$3,509,216.00$6,154,200.00$15,175,745.00$4,466,347.00$2,908,125.00
Other types of revenue
Royalties (total)$0.00$0.00$0.00$0.00$0.00
Miscellaneous revenue (total)$310,760.00$331,422.00$308,445.00$266,935.00$304,350.00
Net revenue from gaming (total)$0.00$0.00$0.00$0.00$0.00
Income from dividends, interest, and similar investments$333,012.00$260,321.00$272,384.00$366,720.00$460,287.00
Net rental income$0.00$0.00$0.00$0.00$0.00
Net income from fundraising events$0.00$0.00$0.00$0.00$0.00
Net inventory sales (total)$0.00$0.00$0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$2,056,608.00$2,274,025.00$2,388,750.00$2,367,780.00$2,534,341.00
Total functional expenses: program service $184,969.00$206,581.00$240,907.00$294,424.00$423,979.00
Total functional expenses: management and general$1,871,639.00$2,067,444.00$2,147,843.00$2,073,356.00$2,110,362.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Lobbying fees (total)$0.00$0.00$0.00$0.00$0.00
Legal fees (total)$0.00$0.00$0.00$0.00$0.00
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
General management fees (total)$0.00$0.00$0.00$0.00$0.00
Investment management fees (total)$0.00$0.00$0.00$0.00$0.00
Assets and liabilities
Total assets$58,007,085.00$58,875,321.00$60,332,636.00$58,393,237.00$58,257,753.00
Total assets, beginning of year$58,875,321.00$60,332,636.00$58,393,237.00$58,257,753.00$61,072,965.00
Total liabilities$49,233,939.00$50,167,739.00$51,092,613.00$49,143,953.00$48,986,736.00
Total liabilities, beginning of year$50,167,739.00$51,092,613.00$49,143,953.00$48,986,736.00$51,918,715.00
Pledges & accounts receivable, net$0.00$0.00$0.00$0.00$0.00
Loans & receivables from key persons$486,744.00$498,947.00$569,618.00$558,441.00$637,062.00
Net assets$8,773,146.00$8,707,582.00$9,240,023.00$9,249,284.00$9,271,017.00
Net assets, beginning of year$8,707,582.00$9,240,023.00$9,249,284.00$9,271,017.00$9,154,250.00
Other liabilities$37,595,855.00$38,754,682.00$36,905,967.00$34,914,452.00$34,778,317.00
Intangible assets$0.00$0.00$0.00$0.00$0.00
Other assets$1,041,595.00$1,005,457.00$1,295,811.00$1,079,642.00$514,010.00
Investments: other securities$821,900.00$821,900.00$945,900.00$5,528,731.00$0.00
Investments: publicly traded securities$11,362,921.00$5,740,337.00$4,017,493.00$0.00$3,948,057.00
Cash: non-interest bearing$324,256.00$301,165.00$361,840.00$381,379.00$568,965.00
Cash: non-interest bearing, beginning of year$301,165.00$361,840.00$381,379.00$568,965.00$711,548.00
Investments -- program-related$0.00$0.00$0.00$0.00$0.00
Escrow or custodial account liability$97,135.00$101,537.00$91,753.00$110,759.00$107,754.00
Inventories for sale or use$0.00$0.00$0.00$0.00$0.00
Other financial variables
Revenue less expenses-$121,011.00-$271,825.00$22,142.00-$50,382.00$93,784.00
Advertising (total)$76,924.00$117,348.00$156,517.00$145,906.00$59,911.00
Savings & temp cash investment$10,945,865.00$16,558,976.00$19,734,732.00$16,536,290.00$18,728,656.00
Accounts receivable, net$0.00$0.00$0.00$0.00$0.00
Prepaid expenses & deferred charges$118,869.00$121,541.00$49,144.00$63,495.00$40,966.00
Accounts payable & accrued expenses$40,949.00$61,520.00$94,893.00$118,742.00$100,665.00
Secured mortgages and notes payable$11,500,000.00$11,250,000.00$14,000,000.00$14,000,000.00$14,000,000.00
Total net assets or fund balances$8,773,146.00$8,707,582.00$9,240,023.00$9,249,284.00$9,271,017.00
Depreciation, depletion, amortization$92,361.00$101,443.00$103,839.00$70,543.00$67,316.00
Payment to affiliates$0.00$0.00$0.00$0.00$0.00
Governance and accountability
Number of voting members89999
Number of independent voting members78888
Financial sheets auditedTrueTrueTrueTrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2014-01-012013-01-012012-01-012011-01-012010-01-01
Tax year end date2014-12-012013-12-012012-12-012011-12-012010-12-01
Indicators for schedules (selected)
Outstanding loan to key person or disqualified personTrueTrueTrueTrueTrue
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2015-08-042014-10-232013-07-252012-10-112011-10-27
IRS schema version2014v5.02013v3.12012v2.02011v1.22010v3.2
Filing identifier201522019349300232201422269349302027201321269349300872201231329349301213201102159349300010
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