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Nonprofiteer
← REGIONAL WATER AUTHORITY EMPLOYEES CREDIT UNION INC

Form 990 for tax year 2023

Filed by REGIONAL WATER AUTHORITY EMPLOYEES CREDIT UNION INC.

Totals

Total revenue
$141,227
Total expenses
$140,999
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,941
Investment income
$79,626
Other revenue
$2,660
Total assets, end of year
$6,569,342
Total liabilities, end of year
$5,957,076
Net assets or fund balances, end of year
$612,266
Program services expenses (Part IX)
$48,065
Management and general expenses
$92,934
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 34.1% 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: INTEREST ON LOANS

    total $58,941 · related or exempt $58,941

  • 3 · Investment income

    total $79,626 · related or exempt $79,626

  • 11a · Other revenue: FEES AND CHARGES

    total $2,660 · related or exempt $2,660

  • 11e · Other revenue, total

    $2,660

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $48,065 · program services $48,065

  • 5 · Compensation of officers, directors and key employees

    total $69,240 · management and general $69,240

  • 10 · Payroll taxes

    total $6,176 · management and general $6,176

  • 11g · Fees: other

    total $8,461 · management and general $8,461

  • 13 · Office expenses

    total $3,232 · management and general $3,232

  • 24a · Other expenses: MAINTENANCE CONTRACTS

    total $2,495 · management and general $2,495

  • 24b · Other expenses: LOAN SERVICING

    total $1,889 · management and general $1,889

  • 24c · Other expenses: OUTSIDE SERVICES

    total $1,061 · management and general $1,061

  • 24d · Other expenses: ANNUAL MEETING.

    total $213 · management and general $213

  • 24e · All other expenses

    total $167 · management and general $167

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $131,882 · end of year $55,904

  • 2 · Savings and temporary cash investments

    beginning of year $5,575,391 · end of year $4,930,391

  • 7 · Other notes and loans receivable

    beginning of year $1,265,410 · end of year $1,501,545

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,759 · end of year $18,562

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

    $10

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $10 · end of year $10

  • 15 · Other assets

    beginning of year $61,084 · end of year $62,930

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,357 · end of year $45,742

  • 25 · Other liabilities

    beginning of year $6,394,141 · end of year $5,911,334

  • 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 $612,038 · end of year $612,266

Mission and programs · 2023

Mission

PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS

  • PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS

As filed on the 2023 return.

Listed in Part VII

  • Vicki Lawson

    DIRECTOR

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Christina Gagne

    SECRETARY

    Total calculated
    $20,040
    From this org
    $20,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Marcel Piekarski

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Sarah Bochicchio

    CEO-MANAGER

    Total calculated
    $48,000
    From this org
    $48,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2024
IRS schema version
2023v5.0
Source object
202441289349301714

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