THE COOPERATIVE CENTRAL BANK: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- THE COOPERATIVE CENTRAL BANK (EIN 04-1207240)
- Tax period
- 2018-09-01 to 2019-08-31
- Filed
- 2020-01-24
- IRS object ID
- 202000249349300535
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-01-24T13:36:42-06:00 | ReturnTs |
| Tax Period End | 2019-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 111986323 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARCUM LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 53 STATE STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02109 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041207240 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE COOPERATIVE CENTRAL BANK | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | COOP | BusinessNameControlTxt |
| Phone | 7819944151 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE LINSCOTT ROAD | AddressLine1Txt |
| City | WOBURN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01801 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANDREW J CALAMARE | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 6176950400 | PhoneNum |
| Signature | 2020-01-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DAVID ST YVES | PreparerPersonNm |
| PTIN | P00178146 | PTIN |
| Phone | 6178075000 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 47.19.127.190 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-01-23 | IPDt |
| IP Tm | 11:56:33 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 987FDD9EF9C0A3B3B60512F2147F3E8DA595B8A8 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-09-23 17:36:50Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | ANDREW J CALAMARE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE LINSCOTT ROAD | AddressLine1Txt |
| City | WOBURN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01801 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,132,062 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COOPCENTRALBANK.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1932 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE CASH RESERVES AND DEPOSIT INSURANCE FOR MASSACHUSETTS COOPERATIVE BANKS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 2 | VotingMembersIndependentCnt |
| Total Employee | 4 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,504,608 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,461,571 | CYProgramServiceRevenueAmt |
| PY Investment Income | $2,481,513 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,670,491 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $3,986,121 | PYTotalRevenueAmt |
| CY Total Revenue | $4,132,062 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,518,566 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,535,730 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $721,052 | PYOtherExpensesAmt |
| CY Other Expenses | $529,537 | CYOtherExpensesAmt |
| PY Total Expenses | $2,239,618 | PYTotalExpensesAmt |
| CY Total Expenses | $2,065,267 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,746,503 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,066,795 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $137,830,527 | TotalAssetsBOYAmt |
| Total Assets EOY | $143,477,491 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $30,645,838 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $30,275,425 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $107,184,689 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $113,202,066 | NetAssetsOrFundBalancesEOYAmt |
| Mission | OPERATED AND WHOLLY OWNED BY ALL 38 MASSACHUSETTS CO-OPERATIVE BANKS, SOLELY FOR THE MUTUAL BENEFIT OF ALL OF THEIR DEPOSITORS, AS A SOURCE OF CASH RESERVES AND TO PROVIDE INSURANCE IN FULL OF DEPOSITS UNDER MASSACHUSETTS LAW. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | N/A | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 21 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 4 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 2 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JUDITH M JAVIDPOUR | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7819944151 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE LINSCOTT ROAD | AddressLine1Txt |
| City | WOBURN | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01801 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| EILEEN P MCANNENY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $6,675 | $0 | $0 | |
| JOSEPH V SCHOLL | ||||||
| VICE CHAIR | 1.00 | Yes (X) | $12,950 | $0 | $0 | Yes (X) |
| JULIEANNE M THURLOW | ||||||
| CHAIR | 1.00 | Yes (X) | $14,475 | $0 | $0 | Yes (X) |
| JOSEPH T BAPTISTA JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $9,175 | $0 | $0 | |
| JOSEPH A DEVITO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $8,475 | $0 | $0 | |
| ANDREW J RACZKA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $7,350 | $0 | $0 | |
| RAIJA VAISANEN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $6,075 | $0 | $0 | |
| MARK R HARANAS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $7,875 | $0 | $0 | |
| MICHAEL E TUCKER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $7,350 | $0 | $0 | |
| ROBERT W TERRAVECCHIA JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $1,500 | $0 | $0 | |
| ANDREW J CALAMARE | ||||||
| PRESIDENT AND CEO | 40.00 | $559,066 | $0 | $35,642 | Yes (X) | |
| ANNEMARIE LEE | ||||||
| VICE PRESIDENT | 40.00 | $175,249 | $0 | $35,266 | Yes (X) | |
| JUDITH M JAVIDPOUR | ||||||
| SENIOR VP & TREASURER | 40.00 | $288,576 | $0 | $44,234 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,104,791 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $115,142 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| K&L GATES LLP | |||||
| ONE LINCOLN STREET | BOSTON | MA | 02111 | LEGAL SERVICES | $161,029 |
| JOYCE AND JOYCE | |||||
| ONE CANAL STREET SUITE 1201 | BOSTON | MA | 02114 | LEGAL SERVICES | $125,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSIT INSURANCE ASSESSMENTS | Desc |
| Business | 524298 | BusinessCd |
| Total Revenue Column | $1,461,571 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,461,571 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,461,571 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,670,491 | TotalRevenueColumnAmt |
| Exclusion | $2,670,491 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,132,062 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,461,571 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,670,491 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,208,188 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $193,427 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $88,135 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,980 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,360 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,395 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,671 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,539 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,992 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $110,782 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,645 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,222 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,480 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,996 | TotalAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUES & SUBSCRIPTIONS | Desc |
| Total | $13,455 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,065,267 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,380,957 | BOYAmt |
| EOY | $1,376,265 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,533,000 | BOYAmt |
| EOY | $9,818,000 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $86,191 | BOYAmt |
| EOY | $85,897 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $64,731 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $56,918 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,293 | BOYAmt |
| EOY | $7,813 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $118,690,123 | BOYAmt |
| EOY | $126,007,037 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,125,963 | BOYAmt |
| EOY | $6,182,479 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,830,527 | BOYAmt |
| EOY | $143,477,491 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $229,440 | BOYAmt |
| EOY | $227,061 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,416,398 | BOYAmt |
| EOY | $30,048,364 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,645,838 | BOYAmt |
| EOY | $30,275,425 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $107,184,689 | BOYAmt |
| EOY | $113,202,066 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $107,184,689 | BOYAmt |
| EOY | $113,202,066 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $137,830,527 | BOYAmt |
| EOY | $143,477,491 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $2,066,795 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,950,582 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $64,731 | OtherCostOrOtherBasisAmt |
| Depreciation | $56,918 | DepreciationAmt |
| Book Value | $7,813 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,813 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | US AND FEDERAL AGENCY OBLIGATIONS - AFS | Desc |
| Book Value | $126,007,037 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $126,007,037 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS BY MEMBER BANKS | Desc |
| Amt | $30,048,364 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $30,048,364 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $4,132,062 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,132,062 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $4,132,062 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,065,267 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,065,267 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $2,065,267 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE BANK IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)14 OF THE INTERNAL REVENUE CODE. THE BANK'S POLICY IS TO ANALYZE ITS TAX POSITIONS FOR ALL OPEN YEARS AND HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ANDREW J CALAMARE | ||||||||||||||
| PRESIDENT AND CEO | $352,042 | $0 | $69,655 | $0 | $137,369 | $0 | $27,500 | $0 | $8,142 | $0 | $594,708 | $0 | $0 | $0 |
| ANNEMARIE LEE | ||||||||||||||
| VICE PRESIDENT | $159,461 | $0 | $15,788 | $0 | $0 | $0 | $15,946 | $0 | $19,320 | $0 | $210,515 | $0 | $0 | $0 |
| JUDITH M JAVIDPOUR | ||||||||||||||
| SENIOR VP & TREASURER | $249,141 | $0 | $39,435 | $0 | $0 | $0 | $24,914 | $0 | $19,320 | $0 | $332,810 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE CENTRAL BANK IS A PRIVATE SPECIAL ACT CORPORATION ESTABLISHED BY THE LEGISLATURE OF THE COMMONWEALTH OF MASSACHUSETTS. THE CENTRAL BANK IS OPERATED AND WHOLLY OWNED BY ITS "MEMBERS" - ALL 38 MASSACHUSETTS COOPERATIVE BANKS. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBERS OF THE BOARD OF DIRECTORS ELECT NEW DIRECTORS OR REAPPOINT EXISTING DIRECTORS FOR ADDITIONAL TERMS. THE MAJORITY OF DIRECTOR POSITIONS CONSISTS OF REPRESENTATIVES OF THE CENTRAL BANK'S MEMBER-BANKS AS DESCRIBED IN PART VI, SECTION A, QUESTION 6. THE CENTRAL BANK ALSO HAS INDEPENDENT OR PUBLIC-INTEREST DIRECTORS THAT ARE NOT AFFILIATED WITH ITS MEMBER-BANKS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WAS REVIEWED BY THE TREASURER FOR ACCURACY. PRIOR TO FILING, THE FORM 990 WAS REVIEWED AND APPROVED BY THE GOVERNING BODY'S AUDIT COMMITTEE CHAIRMAN. A COPY OF THE COMPLETED FORM 990 IS MADE AVAILABLE TO ALL THE MEMBERS OF THE GOVERNING BOARD AFTER FILING THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CENTRAL BANK RECEIVES OVERSIGHT FROM THE BOARD OF DIRECTORS AND ITS COMMITTEES TO ENSURE THAT SUCH POLICIES ARE ADHERED TO ON A REGULAR BASIS. |
| FORM 990, PART VI, SECTION B, LINE 15 | ON AN ANNUAL BASIS, THE COMPENSATION COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD FOR THE PRESIDENT AND CEO. THEY ALSO RECOMMEND A PERCENTAGE COMPENSATION INCREASE, IF ANY, FOR ALL EMPLOYEES, WHICH IS ALLOCATED AT THE DISCRECTION OF THE PRESIDENT AND CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE CENTRAL BANK IS A PRIVATE SPECIAL ACT CORPORATION ESTABLISHED BY THE LEGISLATURE OF THE COMMONWEALTH OF MASSACHUSETTS. AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC VIA THE CENTRAL BANK'S WEBSITE (WWW.COOPCENTRALBANK.COM). OTHER DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 2B AND 2C: | THERE HAVE BEEN NO CHANGES SINCE THE PRIOR YEAR TO THE AUDIT COMMITTEE'S (I) OVERSIGHT OF THE AUDIT OF THE CENTRAL BANK'S FINANCIAL STATEMENTS, OR (II) THE SELECTION OF THE INDEPENDENT ACCOUNTANT. |