THE COOPERATIVE CENTRAL BANK

EIN: 041207240

WOBURN, MA

Total Revenue
$2,132,200
Total Expenses
$13,140,609
Total Assets
N/A
Net Assets
N/A
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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
1932
Legal Domicile
MA
Principal Officer
ANDREW J CALAMARE
Phone
7819944151
Tax Period
2019-09-01 to 2020-03-17

THE COOPERATIVE CENTRAL BANK, founded in 1932, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2019. Revenue fell 48% from the prior year — a significant decline worth monitoring. Expenses of $13.1M exceeded revenue, resulting in a 516% operating deficit.

Mission

TO PROVIDE CASH RESERVES AND DEPOSIT INSURANCE FOR MASSACHUSETTS COOPERATIVE BANKS.

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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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $682,356
Investment Income $1,449,844
Other Revenue $0
TOTAL REVENUE $2,132,200

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,538,657
Fundraising Expenses $0
Other Expenses $11,601,952
TOTAL EXPENSES $13,140,609

Year-over-Year Comparison

2019 2018 Change
Revenue $2,132,200 $4,132,062 -0.5%
Expenses $13,140,609 $2,065,267 +5.4%
Net Income $-11,008,409 $2,066,795 -6.3%
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

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Governance

Voting Members
10
Independent Members
2
Employees
4
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
4
$1,086,744
Total Directors
10
$62,775
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EILEEN P MCANNENY DIRECTOR 1.00
Director
$6,300 $0 $6,300
JOSEPH V SCHOLL CHAIR 1.00
Officer Director
$6,675 $0 $6,675
EDWARD MANZI DIRECTOR 1.00
Director
$300 $0 $300
JOSEPH T BAPTISTA JR VICE CHAIR 1.00
Director
$7,575 $0 $7,575
JOSEPH A DEVITO DIRECTOR 1.00
Director
$8,475 $0 $8,475
ANDREW J RACZKA DIRECTOR 1.00
Director
$6,075 $0 $6,075
RAIJA VAISANEN DIRECTOR 1.00
Director
$6,000 $0 $6,000
MARK R HARANAS DIRECTOR 1.00
Director
$7,800 $0 $7,800
MICHAEL E TUCKER DIRECTOR 1.00
Director
$6,975 $0 $6,975
ROBERT W TERRAVECCHIA JR DIRECTOR 1.00
Director
$6,600 $0 $6,600
ANDREW J CALAMARE PRESIDENT AND CEO 40.00
Officer
$480,896 $36,903 $517,799
ANNEMARIE LEE VICE PRESIDENT 40.00
Officer
$183,759 $35,745 $219,504
JUDITH M JAVIDPOUR SENIOR VP & TREASURER 40.00
Officer
$297,743 $45,023 $342,766
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
2020 $2,132,200 $13,140,609 No data $-11,008,409
2019 $4,132,062 $2,065,267 $143,477,491 $2,066,795
2018 $3,986,121 $2,239,618 $137,830,527 $1,746,503
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