CITY OF BOSTON CREDIT UNION (EIN 041103180) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1915

Legal Domicile

Principal Officer

RAYMOND CHARLES VOLPER JR

Phone

6176352471

Tax Period

2024-01-01 to 2024-12-31

CITY OF BOSTON CREDIT UNION, founded in 1915, is a mid-sized nonprofit that reported $24.2M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $28.1M exceeded revenue, resulting in a 16% operating deficit.

Mission

CREDIT UNION - THRIFT SERVICES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $26,654,766

Investment Income $-2,445,611

Other Revenue $0

TOTAL REVENUE $24,209,155

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,086,707

Fundraising Expenses $0

Other Expenses $18,986,205

TOTAL EXPENSES $28,072,912

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,209,155	$25,890,287	-0.1%
Expenses	$28,072,912	$29,184,284	0.0%
Net Income	$-3,863,757	$-3,293,997	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

108

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,044,030

Total Directors

$32,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CECIL JONES	CHAIRPERSON	5.00	Officer Director	$10,800	$0	$10,800
BRIAN GILL	CLERK/SECRETARY	5.00	Officer Director	$10,800	$0	$10,800
TIMOTHY SMYTH	TREASURER	5.00	Officer Director	$10,800	$0	$10,800
SUSAN CONNOLLY	DIRECTOR	5.00	Director	$0	$0	$0
KEVIN LINSKEY	DIRECTOR	5.00	Director	$0	$0	$0
JAMES DRISCOLL	DIRECTOR	5.00	Director	$0	$0	$0
STEPHEN GREEN	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTOPHER STOCKBRIDGE	DIRECTOR	5.00	Director	$0	$0	$0
NEIL MCGONAGLE	DIRECTOR	5.00	Director	$0	$0	$0
GREGORY ROONEY	DIRECTOR	5.00	Director	$0	$0	$0
MARK BERNARD	DIRECTOR	5.00	Director	$0	$0	$0
CATHERINE MULLEN	FORMER INTERIM CEO/VP OP.	40.00	Officer	$176,054	$20,392	$196,446
ROBERT MCCAULEY	FORMER VP LENDING	40.00	Officer	$112,364	$16,565	$128,929
KARLA MCCARRON	FORMER VP MARKETING	40.00	Officer	$67,657	$17,133	$84,790
ROBERT DASILVA	CLO	40.00	Officer	$201,125	$29,457	$230,582
LISA PERRIN	PRESIDENT & CEO	40.00	Officer	$150,641	$26,687	$177,328
RAYMOND VOLPER	CFO	40.00	Officer	$47,065	$10,976	$58,041
ROBERT OPFERMAN	FORMER COMPLIANCE OFFICER	40.00	Officer	$105,189	$30,325	$135,514
AUDREY WALKER	OPERATIONS MANAGER	40.00	Highest	$115,915	$43,708	$159,623
KERI BASZKIEWICZ	RETAIL MANAGER	40.00	Highest	$113,402	$42,647	$156,049
MARIA COSTA	DIRECTOR OF LENDING	40.00	Highest	$110,097	$36,803	$146,900
COLLEEN DONAVAN	EXECUTIVE ASSISTANT	40.00	Highest	$179,654	$49,910	$229,564
MELINDA GAUDREAU	DIRECTOR OF RETAIL	40.00	Highest	$109,858	$32,173	$142,031
COLEMAN NEE	MARKETING/ FINACIAL ANALYST	40.00	Highest	$104,156	$24,886	$129,042

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$24,209,155	$28,072,912	$552,723,863	$-3,863,757
2023	$25,890,287	$29,184,284	$617,768,388	$-3,293,997
2022	$22,869,244	$21,682,627	$674,850,893	$1,186,617
2021	$22,922,558	$21,096,102	$650,816,767	$1,826,456
2020	$21,750,049	$21,546,063	$533,323,153	$203,986
2019	$23,155,829	$22,425,605	$455,973,829	$730,224
2018	$20,190,513	$18,922,456	$390,949,890	$1,268,057

CITY OF BOSTON CREDIT UNION