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Nonprofiteer
← COASTAL1 CREDIT UNION

Form 990 for tax year 2022

Filed by COASTAL1 CREDIT UNION.

Totals

Total revenue
$105,557,200
Total expenses
$73,835,056
Contributions and grants received
$0
Grants paid
$193,799
Program service revenue
$88,021,324
Investment income
$5,132,208
Other revenue
$12,403,668
Total assets, end of year
$3,132,689,831
Total liabilities, end of year
$2,826,020,503
Net assets or fund balances, end of year
$306,669,328
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Listed in Part VII

  • DR FRANK P CASARELLA

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • JOHN B RICHER JR

    TREASURER

    Total calculated
    $52,250
    From this org
    $52,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • KARL A KOZAK

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • KEVIN TRACEY

    DIRECTOR

    Total calculated
    $31,320
    From this org
    $31,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LAWRENCE J MONASTESSE

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LINDA C MOFFAT

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • LYNN AM WEINSTEIN

    VICE CHAIRMAN

    Total calculated
    $54,750
    From this org
    $54,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • MARIO CARLUCCI

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • PAUL F LEFEBVRE

    SECRETARY

    Total calculated
    $52,250
    From this org
    $52,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • RICHARD H LECLERC

    DIRECTOR

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • RONALD W LECLAIR

    CHAIRMAN

    Total calculated
    $75,750
    From this org
    $75,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • BRIAN AZAR

    PRESIDENT/CEO

    Total calculated
    $650,884
    From this org
    $611,333
    From related orgs
    $0
    Other
    $39,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $525,245
    Bonus
    $71,250
    Other
    $14,838
    Deferred
    $17,599
    Nontaxable benefits
    $21,952
    Filer's total
    $650,884

  • VALERIE J PIMENTA

    EVP/CFO

    Total calculated
    $390,234
    From this org
    $356,242
    From related orgs
    $0
    Other
    $33,992
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,819
    Bonus
    $73,277
    Other
    $8,146
    Deferred
    $24,370
    Nontaxable benefits
    $9,622
    Filer's total
    $390,234

  • DONNA GREGSON

    EVP RETAIL

    Total calculated
    $350,673
    From this org
    $306,519
    From related orgs
    $0
    Other
    $44,154
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,679
    Bonus
    $63,187
    Other
    $8,653
    Deferred
    $22,196
    Nontaxable benefits
    $21,958
    Filer's total
    $350,673

  • TIMOTHY M JERMAIN

    EVP/COO

    Total calculated
    $530,938
    From this org
    $486,985
    From related orgs
    $0
    Other
    $43,953
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $370,173
    Bonus
    $98,599
    Other
    $18,213
    Deferred
    $21,688
    Nontaxable benefits
    $22,265
    Filer's total
    $530,938

  • COLLEEN MOONEY

    MORTGAGE ORIGINATOR

    Total calculated
    $372,059
    From this org
    $343,326
    From related orgs
    $0
    Other
    $28,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $341,872
    Other
    $1,454
    Deferred
    $19,303
    Nontaxable benefits
    $9,430
    Filer's total
    $372,059

  • KEVIN FARRELL

    SVP/COMMERCIAL LENDING

    Total calculated
    $338,687
    From this org
    $294,008
    From related orgs
    $0
    Other
    $44,679
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,085
    Bonus
    $32,085
    Other
    $2,838
    Deferred
    $22,760
    Nontaxable benefits
    $21,919
    Filer's total
    $338,687

  • MARK MCLAUGHLIN

    VP/MORTGAGE ORIGINATION

    Total calculated
    $446,603
    From this org
    $403,774
    From related orgs
    $0
    Other
    $42,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $26,225
    Bonus
    $376,409
    Other
    $1,140
    Deferred
    $21,766
    Nontaxable benefits
    $21,063
    Filer's total
    $446,603

  • PATRICIA WEBB

    SVP/RESIDENTAL & RETAIL LE

    Total calculated
    $343,783
    From this org
    $303,386
    From related orgs
    $0
    Other
    $40,397
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,601
    Bonus
    $54,267
    Other
    $1,518
    Deferred
    $22,588
    Nontaxable benefits
    $17,809
    Filer's total
    $343,783

  • ROBERT GOTTI

    SVP BUSINESS DEVELOPMENT

    Total calculated
    $347,167
    From this org
    $302,035
    From related orgs
    $0
    Other
    $45,132
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,907
    Bonus
    $54,162
    Other
    $3,966
    Deferred
    $22,858
    Nontaxable benefits
    $22,274
    Filer's total
    $347,167

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 · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1B
AS PART OF THE CURRENT CEO'S EMPLOYMENT AGREEMENT, THE CREDIT UNION HAS AGREED TO PAY THE DUES FOR A PERSONAL COUNTRY CLUB MEMBERSHIP.

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
2022
Filed
5 October 2023
IRS schema version
2022v5.0
Source object
202332799349301343

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