Skip to content
Nonprofiteer
← FIRST RESPONDERS CREDIT UNION

Form 990 for tax year 2024

Filed by FIRST RESPONDERS CREDIT UNION.

Totals

Total revenue
$21,804,632
Total expenses
$18,274,622
Contributions and grants received
$0
Grants paid
$200,000
Program service revenue
$19,749,635
Investment income
$2,054,997
Other revenue
$0
Total assets, end of year
$420,586,232
Total liabilities, end of year
$369,945,830
Net assets or fund balances, end of year
$50,640,402
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$18,274,622

Listed in Part VII

  • richard Hayward Jr

    President & CEO

    Total calculated
    $516,734
    From this org
    $430,660
    From related orgs
    $0
    Other
    $86,074
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $358,682
    Bonus
    $25,952
    Other
    $46,026
    Deferred
    $61,599
    Nontaxable benefits
    $24,475
    Filer's total
    $516,734

  • craig mackenzie

    EVP/COO (Resigned 12/2024)

    Total calculated
    $353,696
    From this org
    $327,571
    From related orgs
    $0
    Other
    $26,125
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $258,272
    Bonus
    $31,000
    Other
    $38,299
    Deferred
    $17,405
    Nontaxable benefits
    $8,720
    Filer's total
    $353,696

  • cristina Prentis

    SVP/CFO

    Total calculated
    $246,189
    From this org
    $213,639
    From related orgs
    $0
    Other
    $32,550
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $181,727
    Bonus
    $20,691
    Other
    $11,221
    Deferred
    $32,327
    Nontaxable benefits
    $223
    Filer's total
    $246,189

  • kenneth Nasiff

    SVP MBL

    Total calculated
    $241,921
    From this org
    $202,910
    From related orgs
    $0
    Other
    $39,011
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $188,805
    Bonus
    $9,820
    Other
    $4,285
    Deferred
    $14,465
    Nontaxable benefits
    $24,546
    Filer's total
    $241,921

  • Andy Puga

    SVP/CIO

    Total calculated
    $223,616
    From this org
    $172,690
    From related orgs
    $0
    Other
    $50,926
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $154,185
    Bonus
    $13,650
    Other
    $4,855
    Deferred
    $26,454
    Nontaxable benefits
    $24,472
    Filer's total
    $223,616

  • Cathy Boucher

    EVP/COO (Retired 4/2024)

    Total calculated
    $219,757
    From this org
    $202,041
    From related orgs
    $0
    Other
    $17,716
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $65,262
    Bonus
    $22,415
    Other
    $114,364
    Deferred
    $14,692
    Nontaxable benefits
    $3,024
    Filer's total
    $219,757

  • catherine guerard

    VP Member Services

    Total calculated
    $178,219
    From this org
    $153,750
    From related orgs
    $0
    Other
    $24,469
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $139,487
    Bonus
    $8,839
    Other
    $5,424
    Deferred
    $22,793
    Nontaxable benefits
    $1,676
    Filer's total
    $178,219

  • wendy reiter

    Controller

    Total calculated
    $171,647
    From this org
    $134,315
    From related orgs
    $0
    Other
    $37,332
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $123,559
    Bonus
    $7,789
    Other
    $2,967
    Deferred
    $20,088
    Nontaxable benefits
    $17,244
    Filer's total
    $171,647

  • kaitryn Thornton

    VP Lending

    Total calculated
    $165,277
    From this org
    $144,273
    From related orgs
    $0
    Other
    $21,004
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $127,286
    Bonus
    $9,475
    Other
    $7,512
    Deferred
    $21,004
    Nontaxable benefits
    not reported
    Filer's total
    $165,277

  • Raymond Lazcano

    Financial Advisor

    Total calculated
    $151,464
    From this org
    $124,063
    From related orgs
    $0
    Other
    $27,401
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $91,572
    Bonus
    $31,789
    Other
    $702
    Deferred
    $18,709
    Nontaxable benefits
    $8,692
    Filer's total
    $151,464

  • Carlos Fontes

    IT Systems Officer

    Total calculated
    $145,761
    From this org
    $104,716
    From related orgs
    $0
    Other
    $41,045
    Hours/week
    37.5

  • Daniel Magoon

    Chairman

    Total calculated
    $12,504
    From this org
    $12,504
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Joseph Casper

    Treasurer/Clerk

    Total calculated
    $6,252
    From this org
    $6,252
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Charles Buchanan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Christopher Burke

    Director

    Total calculated
    $0
    Hours/week
    1

  • Edmund Street

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Meehan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Marc Sanders

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ralph Dowling

    Director

    Total calculated
    $0
    Hours/week
    1

  • Sean Costello

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • William O'Sullivan

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Broderick

    Director

    Total calculated
    $0
    Hours/week
    1

  • Sean O'Brien

    Director (Ended 11/19/2024)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE CEO IS CONTRACTUALLY ALLOWED TO HAVE A GUEST TRAVEL WITH HIM TO TWO CONFERENCES PER YEAR.
PART I, LINE 1B
THE CEOS SALARY IS REVIEWED ANNUALLY IN FEBRUARY BY THE EXECUTIVE COMMITTEE OF THE CREDIT UNION. THE COMMITTEE IS COMPRISED OF THE THREE CHAIR OFFICERS OF THE BOARD OF DIRECTORS (BOD). THE COMMITTEE USES A COMPREHENSIVE COMPENSATION PROGRAM DEVELOPED BY AN INDEPENDENT 3RD PARTY WHICH INCLUDES ADMINISTRATION OF THE ANNUAL REVIEW AND USES INDUSTRY BENCHMARKS AS WELL AS CPI INDICES TO MAKE THEIR RECOMMENDATIONS. THE COMMITTEE REVIEWS THE CEOS PERFORMANCE EVALUATION THAT IS COMPILED BY THE INDEPENDENT 3RD PARTY WHICH INCLUDES A BOARD ASSESSMENT, PERFORMANCE ASSESSMENT AND SPECIAL PROJECTS ASSESSMENT. BASED ON METRICS ESTABLISHED BY THE EXECUTIVE COMMITTEE, THE PERFORMANCE EVALUATION CALCULATES A RECOMMENDED MERIT ADJUSTMENT TO THE CEOS BASE PAY AND AN ANNUAL BONUS. THE EXECUTIVE COMMITTEE WILL DISCUSS THE RESULTS OF THE EVALUATION AND RECOMMEND AN AMOUNT FOR THE MERIT ADJUSTMENT AND THE ANNUAL BONUS FOR THE CEO TO THE FULL BOD. THE FULL BOD VOTES ON THE INCREASE AND BONUS AND THIS IS DOCUMENTED IN THE MEETING MINUTES OF THE CREDIT UNION. THIS WAS LAST DONE IN FEBRUARY 2024.
PART I, LINE 4B
THE RETIRED AND CURRENT CEOS PARTICIPATE IN A SERP FUNDED BY SPLIT DOLLAR LIFE INSURANCE. ONE EVP HAS A DEFERRED COMP AGREEMENT IN PLACE AND WAS PAID OUT IN 2024.
PART II, COLUMN F
CATHY BOUCHER RECEIVED A DEFERRED COMPENSATION PAYOUT OF $100,000 IN 2024.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202503169349305540

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.