COOPERATIVE CREDIT UNION ASSOCIATI… - Form 990 Financial Data

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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

1934

Legal Domicile

Principal Officer

A SCOTT MACKNIGHT

Phone

8008421242

Tax Period

2023-01-01 to 2023-12-31

COOPERATIVE CREDIT UNION ASSOCIATION INC, founded in 1934, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

THE ASSOCIATION ACTIVELY SUPPORTS AND ENCOURAGES CREDIT UNIONS IN THEIR COMMUNITY OUTREACH EFFORTS. IN SUPPORT OF THOSE EFFORTS, THE ASSOCIATION MAINTAINS A COMMITTEE ON SOCIAL RESPONSIBILITY. THE PURPOSE OF THAT COMMITTEE IS TO DEVELOP A UNIFIED PLAN OF SOCIAL RESPONSIBILITY FOR THE ASSOCIATION THROUGH RECOMMENDATIONS TO THE BOARD OF DIRECTORS. THAT PLAN FEATURES PROGRAMS AND EVENTS THAT FOCUS STATEWIDE EFFORTS ON AFFORDABLE HOUSING, FINANCIAL LITERACY AND DESIGNATED CHARITABLE AND COMMUNITY ACTIVITIES THAT ENHANCE THE POSITIVE IMAGE OF CREDIT UNIONS AS WELL AS THE PUBLIC'S OVERALL AWARENESS OF THEM.TO CAPTURE THE ESSENCE OF THE GOODWILL AND OUTREACH THAT MASSACHUSETTS CREDIT UNIONS HAVE BEEN ENGAGED IN OVER THE YEARS, THE ASSOCIATION IN 2006 LAUNCHED THE CREDIT UNION COMMUNITY HOPE INITIATIVE.

Program Service Accomplishments

Program 1

TO PROVIDE SERVICES TO MEMBERS ON A LOCAL AND NATIONAL LEVEL.

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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 (2023)

Revenue Breakdown

Contributions & Grants $441,579

Program Service Revenue $3,607,155

Investment Income $268,072

Other Revenue $1,746,185

TOTAL REVENUE $6,062,991

Expense Breakdown

Grants Paid $22,500

Salaries & Benefits $3,256,166

Fundraising Expenses $0

Other Expenses $2,761,923

TOTAL EXPENSES $6,040,589

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,062,991	$5,243,149	+0.2%
Expenses	$6,040,589	$5,022,852	+0.2%
Net Income	$22,402	$220,297	-0.9%

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

Volunteers

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

$762,666

Total Directors

$600,066

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED REINHARDT	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ANABELA P GRENIER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MAURICE W DAWKINS	2ND VICE CHAIR	1.00	Officer Director	$0	$0	$0
A SCOTT MACKNIGHT	TREASURER	1.00	Officer Director	$0	$0	$0
DAVID ARAUJO	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT M CASHMAN	DIRECTOR	1.00	Director	$0	$0	$0
EILEEN DANAHEY	DIRECTOR	1.00	Director	$0	$0	$0
RUI F DOMINGOS	DIRECTOR	1.00	Director	$0	$0	$0
ROLAND DRAPER	DIRECTOR	1.00	Director	$0	$0	$0
BLANCHE JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN J WHITE	DIRECTOR	1.00	Director	$0	$0	$0
RONALD MCLEAN	PRESIDENT/CEO	60.00	Officer Director	$530,924	$69,142	$600,066
DAWN ROBERTS	CONTROLLER	50.00	Officer	$133,525	$29,075	$162,600
MELISSA POMEROY	CHIEF REVENUE OFFICER	50.00	Highest	$258,360	$35,303	$293,663
WALTER J LASKOS	SVP STRATEGIC COMMUNICATIO	50.00	Highest	$219,990	$17,219	$237,209
ADRIAN VELAZQUEZ	CHIEF ADVOCACY OFFICER	50.00	Highest	$187,068	$15,468	$202,536
DEAN MARTINO	DIRECTOR OF BUSINESS DEVELOPMENT	40.00	Highest	$104,218	$20,990	$125,208
JANELLE MULLEN	DIRECTOR OF MARKETING	40.00	Highest	$144,662	$12,279	$156,941

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	No data	No data	No data	No data
2023	$6,062,991	$6,040,589	$11,131,688	$22,402
2022	$5,243,149	$5,022,852	$11,210,165	$220,297
2021	$5,571,085	$4,991,300	$10,385,282	$579,785
2020	$5,419,873	$5,144,219	$10,235,941	$275,654
2019	$6,441,524	$6,335,573	$10,131,165	$105,951
2018	$7,283,419	$6,852,293	$10,114,739	$431,126

COOPERATIVE CREDIT UNION ASSOCIATION INC