JEANNE DARC CREDIT UNION: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- JEANNE DARC CREDIT UNION (EIN 04-1231965)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-07-19
- IRS object ID
- 201142009349300224
- Schema version
- 2010v3.2
- 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) |
|---|---|---|
| Timestamp | 2011-07-19T13:20:33-04:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WOLF & COMPANY PC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 99 HIGH STREET 21ST FLOOR | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02110 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 041231965 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jeanne D'Arc Credit Union | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | JEAN | NameControl |
| Phone | 9784525001 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 658 Merrimack Street | AddressLine1 |
| City | Lowell | City |
| State | MA | State |
| ZIP Code | 018543913 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Susan Gruber | Name |
| Title | Chief Financial Officer | Title |
| Phone | 9784525001 | Phone |
| Date Signed | 2011-07-12 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Michael J Rowe CPA | Name |
| Phone | 6174399700 | Phone |
| Date Prepared | 2011-07-07 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Susan Gruber | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 658 MERRIMACK ST | AddressLine1 |
| City | Lowell | City |
| State | MA | State |
| ZIP Code | 01854 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 50177188 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.jdcu.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1912 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | JEANNE D'ARC CREDIT UNION IS A FULL SERVICE, member-owned community based credit union. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 13 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 246 | TotalNbrEmployees |
| Total Gross UBI | 89703 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -250916 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 24692427 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 24932689 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 10047854 | InvestmentIncomePriorYear |
| Investment Income Current Year | 9760207 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 5987470 | OtherRevenuePriorYear |
| Other Revenue Current Year | 6258072 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 40727751 | TotalRevenuePriorYear |
| Total Revenue Current Year | 40950968 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 11780343 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11973319 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 27877754 | OtherExpensePriorYear |
| Other Expenses Current Year | 28530788 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 39658097 | TotalExpensesPriorYear |
| Total Expenses Current Year | 40504107 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 1069654 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 446861 | RevenuesLessExpensesCY |
| Total Assets BOY | 822579563 | TotalAssetsBOY |
| Total Assets EOY | 904488654 | TotalAssetsEOY |
| Total Liabilities BOY | 745108176 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 826642780 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 77471387 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 77845874 | NetAssetsOrFundBalancesEOY |
| Mission Description | We opened our doors in 1912 to provide financial stability to immigrants who came here from all over the world to work in the mills. Our goals then were the same as they are now: helping each member make smart financial choices; helping people save for their future; making loans available so our members can realize The American Dream by purchasing a home, buying a car or even starting their own business. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | Provide financial services to members as a licensed credit union. | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | true | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Info In Schedule O Part V | X | InfoInScheduleOPartV |
| Number Forms Transmitted With1096 | 38148 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 246 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 13 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Own Website | X | OwnWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JEANNE D'ARC CREDIT UNION | NamePerson |
| Telephone Number | 9784525001 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 658 MERRIMACK ST | AddressLine1 |
| City | LOWELL | City |
| State | MA | State |
| ZIP Code | 01854 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (26 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| Leon Bedard | ||||||||
| Director | 1.0 | X | 0 | 0 | 0 | |||
| John Chemaly | ||||||||
| Director | 1.0 | X | 4283 | 0 | 0 | |||
| Mark Cochran | ||||||||
| President/CEO/Director | 40.0 | X | 500476 | 0 | 41169 | X | ||
| Peter Doyle | ||||||||
| Director | 1.0 | X | 4283 | 0 | 0 | |||
| George Eliades | ||||||||
| Vice Chariman | 1.0 | X | 4211 | 0 | 0 | |||
| Henri Marchand | ||||||||
| Director | 1.0 | X | 4283 | 0 | 0 | |||
| Carol McDonough | ||||||||
| Director | 1.0 | X | 4211 | 0 | 0 | |||
| Armand Mercier | ||||||||
| Director | 1.0 | X | 4211 | 0 | 0 | |||
| Ellen Murphy Meehan | ||||||||
| Director | 1.0 | X | 4319 | 0 | 0 | |||
| Joseph Randazza | ||||||||
| Director | 1.0 | X | 4211 | 0 | 0 | |||
| William Soucy | ||||||||
| Director | 1.0 | X | 4282 | 0 | 0 | |||
| Richard Viau | ||||||||
| Chairman of the Board | 1.0 | X | 4211 | 0 | 0 | |||
| Naomi Prendergast | ||||||||
| Director | 1.0 | X | 0 | 0 | 0 | |||
| Peter Boyle | ||||||||
| Senior Vice President CIO | 40.0 | 274742 | 0 | 40523 | X | |||
| Scott Flagg | ||||||||
| Senior VP Member Services | 40.0 | 192486 | 0 | 27695 | X | |||
| Kathleen Grieco | ||||||||
| Senior Vice President CLO | 40.0 | 162467 | 0 | 22569 | X | |||
| Susan Gruber | ||||||||
| Senior Vice President CFO | 40.0 | 219935 | 0 | 26579 | X | |||
| Michelle Silveira | ||||||||
| Senior VP Marketing | 40.0 | 171079 | 0 | 27093 | X | |||
| Maureen Couture | ||||||||
| Loan Originator | 40.0 | 140069 | 0 | 0 | X | |||
| Carolyn Pelletier | ||||||||
| Vice President Operations | 40.0 | 101953 | 0 | 0 | X | |||
| Kara Doyle | ||||||||
| Assistant Vice President | 40.0 | 115885 | 0 | 0 | X | |||
| Paul McDonald | ||||||||
| VP Residential Consumer loans | 40.0 | 106506 | 0 | 0 | X | |||
| James Milinazzo | ||||||||
| VP Business Services | 40.0 | 131817 | 0 | 0 | X | |||
| Stephen Jones | ||||||||
| Vice President | 40.0 | 122583 | 0 | 0 | X | |||
| Denise Bouchard | ||||||||
| Vice President Technology | 40.0 | 108357 | 0 | 0 | X | |||
| Robert Jones | ||||||||
| Vice President | 40.0 | 103313 | 0 | 0 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2494173 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 185628 | TotalOtherCompensation |
| Number Individuals GT100 K | 14 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| DIGITAL INSIGHT CORP | |||||
| PO BOX 515306 | LOS ANGELES | CA | 90051 | Internet | 644246 |
| TREMONT YARD | |||||
| 5 DICK TRACY DRIVE | PELHAM | NH | 03076 | Property management | 986731 |
| CLEAR CHANNEL OUTDOOR | |||||
| PO BOX 402379 | ATLANTA | GA | 30384 | Advertising | 242420 |
| ENO BOULAY MARTIN DONAHUE LLC | |||||
| 21 GEORGE STREET | LOWELL | MA | 01852 | Legal | 209068 |
| WOLF COMPANY | |||||
| 99 HIGH STREET | BOSTON | MA | 02110 | Consulting Services | 187509 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | INTEREST INCOME | Description |
| Total Revenue Column | 24932689 | TotalRevenueColumn |
| Related Or Exempt Function Income | 24932689 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 24932689 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 8917867 | TotalRevenueColumn |
| Exclusion | $8,917,867 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 9568411 | Securities |
| Other | 500149 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 9226220 | Securities |
| Other | 0 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 342191 | Securities |
| Other | 500149 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 842340 | TotalRevenueColumn |
| Exclusion | $842,340 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | FEE INCOME | Description |
| Business Code | 522100 | BusinessCode |
| Total Revenue Column | 6258072 | TotalRevenueColumn |
| Related Or Exempt Function Income | 6168369 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 89703 | UnrelatedBusinessRevenue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 6258072 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 40950968 | TotalRevenueColumn |
| Related Or Exempt Function Income | 31101058 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 89703 | UnrelatedBusinessRevenue |
| Exclusion | $9,760,207 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1462906 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7966920 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 164801 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1622561 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 756131 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 137687 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 445502 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 617835 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1204329 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 858371 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 427128 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1819869 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 165095 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11572811 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1436072 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1838950 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| EQUIPMENT EXPENSE | 881081 |
| INTERNET BANKING | 613319 |
| ATM & DEBIT CARD NETWORK EXP | 1095414 |
| PROVISION FOR LOAN LOSSES | 3505676 |
| CREDIT CARD EXPENSE | 682643 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1229006 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40504107 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10087603 | BOY |
| EOY | 17067056 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 41242508 | BOY |
| EOY | 31539297 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 433992010 | BOY |
| EOY | 467585849 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 575018 | BOY |
| EOY | 665127 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 19678429 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 6508585 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14182947 | BOY |
| EOY | 13169844 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 317979146 | BOY |
| EOY | 370604595 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4520331 | BOY |
| EOY | 3856886 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 822579563 | BOY |
| EOY | 904488654 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4414207 | BOY |
| EOY | 3348495 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50222 | BOY |
| EOY | 80793 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 85500000 | BOY |
| EOY | 80500000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 655143747 | BOY |
| EOY | 742713492 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 745108176 | BOY |
| EOY | 826642780 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16000000 | BOY |
| EOY | 16000000 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 61471387 | BOY |
| EOY | 61845874 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 77471387 | BOY |
| EOY | 77845874 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 822579563 | BOY |
| EOY | 904488654 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 446861 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -72374 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 2541490 | OtherCostOrOtherBasis |
| Book Value | 2541490 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 6315702 | OtherCostOrOtherBasis |
| Depreciation | 2936212 | Depreciation |
| Book Value | 3379490 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 0 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 4448767 | OtherCostOrOtherBasis |
| Depreciation | 896878 | Depreciation |
| Book Value | 3551889 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3009299 | OtherCostOrOtherBasis |
| Depreciation | 1382301 | Depreciation |
| Book Value | 1626998 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3363171 | OtherCostOrOtherBasis |
| Depreciation | 1293194 | Depreciation |
| Book Value | 2069977 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 13169844 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | DEPOSITS & OTHER LIABILITIES | Description |
| Amount | $742,713,492 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 742713492 | TotalOfAmounts |
| Total Revenue | 40950968 | TotalRevenue |
| Total Expenses | 40504107 | TotalExpenses |
| Excess Or Deficit For Year | 446861 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -72374 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -72374 | TotalAdjustments |
| Excess Or Deficit Per FS | 374487 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 40929641 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 40929641 | RevenueSubtotal |
| Other Revenues Not Included | 21327 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 21327 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 40950968 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 40482780 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 40482780 | ExpensesSubtotal |
| Other Expenses Not Included | 21327 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 21327 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 40504107 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Gain on fixed assets | Schedule D page 4 part XII Line 4b | Audited financial statements treats the gain on sale of fixed assets as netted in other expenses. For purposes of 990 page 9 part VII gain was reported on line 7a-d. |
| Gain on sale of fixed assets reclassed to income | Schedule D page 4 part XIII Line 4b | Net gain from sale of fixed assets was reclassed from expenses on the 990 to other gains & losses part VII lines 7a-d. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Peter Boyle | |||||||||||||
| 259792 | 0 | 0 | 0 | 14950 | 0 | 29493 | 0 | 11030 | 0 | 315265 | 0 | 0 | 0 |
| Mark Cochran | |||||||||||||
| 476772 | 0 | 0 | 0 | 23704 | 0 | 30139 | 0 | 11030 | 0 | 541645 | 0 | 0 | 0 |
| Scott Flagg | |||||||||||||
| 176154 | 0 | 0 | 0 | 16332 | 0 | 16665 | 0 | 11030 | 0 | 220181 | 0 | 0 | 0 |
| Kathleen Grieco | |||||||||||||
| 161435 | 0 | 0 | 0 | 1032 | 0 | 18804 | 0 | 3765 | 0 | 185036 | 0 | 0 | 0 |
| Susan Gruber | |||||||||||||
| 218710 | 0 | 0 | 0 | 1225 | 0 | 21158 | 0 | 54213 | 0 | 295306 | 0 | 0 | 0 |
| Michelle Silveira | |||||||||||||
| 170044 | 0 | 0 | 0 | 1035 | 0 | 15582 | 0 | 11511 | 0 | 198172 | 0 | 0 | 0 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | William Soucy | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | Director | Relationship |
| Amount Of Transaction | 986731 | AmountOfTransaction |
| Description Of Transaction | Soucy owns the CU's building. | DescriptionOfTransaction |
| Sharing Of Revenues | false | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Officer & Director Loans | PAGE 4 PART IV LINE 26 Schedule L Part II | Some of the officers and directors have loans outstanding with the credit union. These loans were obtained in the normal course of business of the credit union with the same terms and conditions available to all members. These loans are not required to be reported on Schedule L, Part II. |
| Board review of Form 990 | Page 6 Part VI Section B Line 11 | The Board of Directors has delegated authority for the review of the Form 990 to the Chief Financial Officer (CFO). The CFO engages the services of an independent accounting firm for the preparation of the Form 990. Upon completion, the Form 990 is reviewed by the CFO, signed by the CFO, and filed with the IRS. |
| Written conflict of interest | Page 6 Part VI Section B Line 12c | Each year the Code of Ethics, which incorporates the Conflict of Interest Policy, is updated and ratified by the Board of Directors. The Code of Ethics pertains to employees as well as the Board of Directors. Annually, all employees and Board Members sign an acknowledgement that they have received and read the Code of Ethics. Further, all employees and Board Members must identify, in writing, all deposits and loan accounts in which they have a related interest. Loans granted to senior management, Directors, or their related parties must be approved by the Board. If the loan is for a Board Member or his/her related interest, the Board Member must leave the boardroom during the discussion and vote. The Board Member is recused from the vote. |
| Board review of Officer Compensation | Page 6 Part VI Section B Line 15 a & b | The credit union's Board of Directors assigns responsibility to the Board's Personnel Committee to interview members of senior management for input in the preparation of a written performance evaluation of the credit union's President. The Personnel Committee is comprised of independent directors. The Personnel Committee will then present the written evaluation to the full board, along with a recommendation for compensation. The compensation level is based on a combination of the President's perceived value to the credit union and job performance. Based on the Personnel Committee's recommendation, the full Board approves the President's compensation. For members of senior management, written performance evaluations are prepared by the President and reviewed with the Board's Chairman. No other Board Directors are involved in the compensation discussions for senior management. Compensation is based on the value to the credit union and job performance. |
| Availability of goverance documents | Page 6 Part VI Section C Line 19 | The credit union's Bylaws, Code of Ethics, Conflict of Interest Policy, etc. are available for inspection at the credit union's annual meeting or available at anytime upon a member's request. The credit union's Privacy Policy is mailed to each member annually. The credit union's Call Report (5300) data is available to the general public via the NCUA's website. |
| Financial statement audit review | PAGE 12 PART XI LINES 2B & 2C | THE JEANNE D'ARC CREDIT UNION STATEMENTS ARE AUDITED BY MCGLADREY & PULLEN, A CERTIFIED PUBLIC ACCOUNTING FIRM. THE FINANCIAL STATEMENT YEAR END IS DECEMBER 31, 2010. THE JUNE 30, 2010 STATEMENTS ARE NOT AUDITED. THE JEANNE D'ARC CREDIT UNION BY-LAWS REQUIRE A FINANCE COMMITTEE MADE UP OF BOARD MEMBERS TO REVIEW THE AUDITED FINANCIAL STATEMENTS AND ASSURE THAT ANY FINDINGS BY THE AUDITORS ARE IMPLEMENTED. |
| Members | Page 6 Part VI Section A lines 6 7a | Jeanne D'Arc Credit Union Membership is available to anyone who lives, works, or attends school in Middlesex or Essex counties, the cities or towns of Fitchburg, Leominster, Harvard, Lunenburg or Lancaster, or the New Hampshire counties of Hillsborough or Rockingham. The members vote for the board of directors at the Annual meeting and vote on any business broght before them at the annual meeting. |
| Related Party transaction | Page 4 Part IV Line 28c | While Director Soucy owns the building which the credit union leases and houses its administrative and back-office staff, Director Soucy excused himself for all Board of Director discussing regarding the decision to enter into the lease for the building. Additionally, a third-party commercial real estate firm, National Commercial Brokers, Inc. conducted a market survey for the credit union to ensure the credit union was paying a fair market lease rate and other pertinent conditions. Finally, the office of the Commissioner of Banks of Massachusetts reviewed the business transaction and had no negative comments on the transaction and approved the expenditure of funds. |
| Other changes to net assets | Page 12 Part XI Line 5 | Net change in unrealized gain and losses ($72,374). |
| Statement of uncertain Tax position | Form 990 page 4 Part IV Line 11f | The Credit Union is a state-chartered credit union described in Internal Revenue Code (IRC) Section 501(c)(14). As such, the Credit Union is exempt from federal taxation of income derived from the performance of activities that are in the furtherance of its exempt purposes. However, IRC Section 511 imposes a tax on the unrelated business income (as defined in Section 512) derived by state-chartered credit unions. Many states have similar laws. The specific application of Section 512 to the various activities conducted by state-chartered credit unions has been at issue for many years. The Internal Revenue Service (IRS) and certain state taxing authorities are currently revisiting what, if any, products and services provided by the Credit Union are subject to UBIT. There is currently very little guidance in the IRS Code on what activities should be subject to UBIT. The IRS has indicated that they are studying the issue and may issue additional guidance. As a result, at the time there is uncertainty regarding whether the Credit Union should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which the Credit Union was granted nontaxable status. The Credit Union has not filed any tax returns in the past for potential taxable activities. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. The Credit Union is currently not subject to U.S. federal, or state and local income tax examinations by tax authorities. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed to be unrelated to the Credit Union's nontaxable status is not expected to have a material effect on the Credit Union's financial position or results of operations. |
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