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Nonprofiteer
← RHODE ISLAND CREDIT UNION

Form 990 for tax year 2024

Filed by RHODE ISLAND CREDIT UNION.

Totals

Total revenue
$22,185,190
Total expenses
$18,826,483
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,185,190
Investment income
$0
Other revenue
$0
Total assets, end of year
$411,087,987
Total liabilities, end of year
$369,132,433
Net assets or fund balances, end of year
$41,955,554
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Insurance Sales

    total $66,014 · related or exempt $0 · unrelated business $66,014 · excluded $0

  • 2b · Program service revenue: Interest Income Loans

    total $14,914,481 · related or exempt $14,914,481 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Investment Income

    total $4,298,819 · related or exempt $4,298,819 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Other Service Fees and Income

    total $2,905,876 · related or exempt $2,905,876 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $2,041,698

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,870,102

  • 8 · Pension plan contributions

    total $207,852

  • 9 · Other employee benefits

    total $1,228,137

  • 10 · Payroll taxes

    total $442,138

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $11,800

  • 11c · Fees: accounting

    total $79,150

  • 11d · Fees: lobbying

    total $41,832

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $296,370

  • 13 · Office expenses

    total $1,711,319

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,049,126

  • 17 · Travel

    total $54,383

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $48,039

  • 20 · Interest

    total $3,820,338

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $617,361

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Loan Expenses

    total $2,028,008

  • 24b · Other expenses: Checking Expenses

    total $111,638

  • 24c · Other expenses: Loan Loss Expense

    total $607,408

  • 24d · Other expenses: Miscellaneous

    total $559,784

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,712,449 · end of year $1,682,600

  • 2 · Savings and temporary cash investments

    beginning of year $97,363,640 · end of year $103,213,160

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $281,868,433 · end of year $276,791,810

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,646,986 · end of year $4,207,254

  • 10a · Land, buildings and equipment: cost or other basis

    $31,265,056

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,492,652

  • 10c · Land, buildings and equipment, net

    beginning of year $10,361,935 · end of year $19,772,404

  • 15 · Other assets

    beginning of year $5,956,143 · end of year $5,420,759

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,035,283 · end of year $6,231,219

  • 25 · Other liabilities

    beginning of year $358,179,802 · end of year $362,901,214

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $37,694,501 · end of year $41,955,554

Mission and programs · 2024

Mission

Rhode Island Credit Union provides financial services to members

  • The Credit Union provides financial services to its members

As filed on the 2024 return.

Listed in Part VII

  • David B Suvall

    President/CEO

    Total calculated
    $295,950
    From this org
    $269,010
    From related orgs
    $0
    Other
    $26,940
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,010
    Bonus
    $0
    Other
    $0
    Deferred
    $16,140
    Nontaxable benefits
    $10,800
    Filer's total
    $295,950

  • Nancy L Zeppa

    Executive Vice President/COO

    Total calculated
    $227,135
    From this org
    $204,090
    From related orgs
    $0
    Other
    $23,045
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,090
    Bonus
    $0
    Other
    $0
    Deferred
    $12,245
    Nontaxable benefits
    $10,800
    Filer's total
    $227,135

  • Dana R Taglianetti

    Senior Vice President CFO

    Total calculated
    $210,719
    From this org
    $156,121
    From related orgs
    $0
    Other
    $54,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,121
    Bonus
    $0
    Other
    $0
    Deferred
    $43,798
    Nontaxable benefits
    $10,800
    Filer's total
    $210,719

  • John Morawski

    VP/IT

    Total calculated
    $195,502
    From this org
    $131,214
    From related orgs
    $0
    Other
    $64,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,214
    Bonus
    $0
    Other
    $0
    Deferred
    $38,716
    Nontaxable benefits
    $25,572
    Filer's total
    $195,502

  • Gina M DePalo

    SVP/CRMO

    Total calculated
    $193,319
    From this org
    $144,188
    From related orgs
    $0
    Other
    $49,131
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,188
    Bonus
    $0
    Other
    $0
    Deferred
    $38,331
    Nontaxable benefits
    $10,800
    Filer's total
    $193,319

  • Gary Mouktarian

    Senior VP/CLO

    Total calculated
    $176,198
    From this org
    $129,611
    From related orgs
    $0
    Other
    $46,587
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,611
    Bonus
    $0
    Other
    $0
    Deferred
    $21,015
    Nontaxable benefits
    $25,572
    Filer's total
    $176,198

  • Louis Votta

    Consumer Loan Operations Manager

    Total calculated
    $157,190
    From this org
    $110,152
    From related orgs
    $0
    Other
    $47,038
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,152
    Bonus
    $0
    Other
    $0
    Deferred
    $21,466
    Nontaxable benefits
    $25,572
    Filer's total
    $157,190

  • David Marsella

    In House Attorney

    Total calculated
    $156,928
    From this org
    $113,781
    From related orgs
    $0
    Other
    $43,147
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,781
    Bonus
    $0
    Other
    $0
    Deferred
    $17,575
    Nontaxable benefits
    $25,572
    Filer's total
    $156,928

  • Janice Kluge

    Consumer Loan Origination Manager

    Total calculated
    $139,671
    From this org
    $105,205
    From related orgs
    $0
    Other
    $34,466
    Hours/week
    40

  • Michael Rugg

    Network Manager

    Total calculated
    $135,285
    From this org
    $103,031
    From related orgs
    $0
    Other
    $32,254
    Hours/week
    40

  • Jane F Correia

    Board Chair

    Total calculated
    $19,550
    From this org
    $19,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Roger Pincince

    Board Member

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Robert E Christie

    Board Treasurer

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Leroy RoseJe

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dennis Tripodi

    Assistant Treasurer

    Total calculated
    $17,625
    From this org
    $17,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ernest A DeAngelis

    First Vice Chair

    Total calculated
    $17,250
    From this org
    $17,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joseph Durand

    Board Member

    Total calculated
    $17,250
    From this org
    $17,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Beverly A Dwyer

    Board Member

    Total calculated
    $14,625
    From this org
    $14,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Maureen Jendzejec

    Director

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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

  • 3 · Compensation survey or study
  • 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)

Schedule J, Part I, Line 4
The Credit Union offers a Supplemental Retirement Plan to certain top executives

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.0
Source object
202513179349306541

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

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