Triangle Credit Union FY2020 filing

Nashua, NHUnknown exempt organizationSince 1939EIN 02-0223137Revenue $33.4M in FY2020

On file with the IRStrianglecu.org33 Franklin Street · Nashua, NH

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Credit Union

$2.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.2M a year · 6% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.0M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
72 mo
of spending, in cash
Looks good: 72.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$772.6M
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$33.4M
Spent
$30.8M
To programs
0%
Net assets
$54.1M
By yearFY2020–FY2024
Revenue
$33.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$33.4M
FY2021$30.4M
FY2022$30.8M
FY2023$37.4M
FY2024$41.7M
Expenses
$30.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$30.8M
FY2021$27.0M
FY2022$28.7M
FY2023$36.4M
FY2024$39.9M
Net assets
$54.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$54.1M
FY2021$58.9M
FY2022$47.3M
FY2023$54.5M
FY2024$64.1M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO and Dire
$436,955Pt VII · Sec A
Executive VP
$368,604Pt VII · Sec A
$178,294Pt VII · Sec A
SVP Commlend
$173,114Pt VII · Sec A
VP of Lendin
$168,427Pt VII · Sec A
SVP Human Re
$163,475Pt VII · Sec A
SVP Marketin
$154,345Pt VII · Sec A
VP of Member
$148,636Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
A Scott Mac Knight——$477,341——
A Scott Macknight$459,361$439,444———
Scott Mac Knight———$365,639$436,955
Mark Warner——$348,295$324,614$368,604
John Ziemba$143,451$140,970$237,416$133,553$173,114
Pamela Ford$168,168$163,076$214,603$164,058$168,427
Jose Rivera Hernandez$156,103$152,671$165,842$145,433$178,294
Karen Wood$119,653$154,418$169,550$96,843—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II12 listed

Programs and updates

Provides banking services and loans to its members.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Maintenance of member deposit accounts. Number of deposit accounts is 105,317. Making loans to members at market rates of interest. Number of loan accounts is 22,010.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$33.4M
Ln 12
Fees for servicesLn 2g$23.4M
Other incomeLn 4–11$7.1M
Investment incomeLn 3$3.0M
Money outPt IX
$30.8M
Ln 25
Owns and owesPt X
$54.1M
net assets · Ln 32
Cash and savingsLn 1–2$186.3M
Total assetsLn 16$826.7M
LiabilitiesLn 26$772.6M
PeoplePt VI, VII
18
listed · VII A
PaidVII A10
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$23.4M
Investment incomeLn 3$3.0M
Other incomeLn 4–11$7.1M
Gains on assetsLn 7$1.7M
Total revenueLn 12$33.4M
Assets in detailPt X, end of year
CashLn 1$5.9M
SavingsLn 2$180.4M
Cash and savings togetherLn 1–2$186.3M
InvestmentsLn 11–13$54.2M
Land, buildings, equipmentLn 10c$11.4M
Other assetsLn 15$18.1M
Total assetsLn 16$826.7M
LiabilitiesLn 26$772.6M
Net assetsLn 32$54.1M
OperationsPt I, VI
EmployeesI 5207
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$36.1M$186.3M
InvestmentsLn 11–13$58.6M$54.2M
Land, buildings, equipmentLn 10c$11.5M$11.4M
Total assetsLn 16$721.3M$826.7M
LiabilitiesLn 26$669.1M$772.6M
Net assetsLn 32$52.1M$54.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.7M
Other salaries and wagesLn 7$8.6M
Other employee benefitsLn 9$1.8M
Payroll taxesLn 10$624K
Legal feesLn 11b$10K
Accounting feesLn 11c$165K
Advertising and promotionLn 12$138K
Office expensesLn 13$2.2M
Information technologyLn 14$1.7M
OccupancyLn 16$1.3M
Conferences, conventions and meetingsLn 19$63K
InterestLn 20$7.8M
Depreciation, depletion and amortizationLn 22$1.2M
InsuranceLn 23$127K
Other expenses (24a–d)Ln 24$1.9M
All other expensesLn 24e$420K
Total functional expensesLn 25$30.8M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $41.7M$39.9M$1.8M$64.1M 990 PDF
FY2023 $37.4M$36.4M$1.0M$54.5M 990 PDF
FY2022 $30.8M$28.7M$2.1M$47.3M 990 PDF
FY2021 $30.4M$27.0M$3.4M$58.9M 990 PDF
FY2020 Viewing $33.4M$30.8M$2.6M$54.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $33,397,590 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $24,351,645$23,394,282
I-10 Investment incomePrior year $2,009,570$2,953,140
I-11 Other revenuePrior year $6,414,017$7,050,168
I-12 Total revenuePrior year $32,775,232$33,397,590
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $12,297,567$13,768,294
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $17,601,357$17,066,307
I-18 Total expensesPrior year $29,898,924$30,834,601
I-19 Revenue less expensesPrior year $2,876,308$2,562,989
Part VI · Governance 7 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $33,397,590 across 5 lines filed
Lines not itemized here account for $379,935 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,394,282$23,394,282
VIII-3 Investment incomeRelated to mission $1,294,297$1,294,297
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,658,843$1,658,843
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,670,233$6,670,233
VIII-12 Total revenueRelated to mission $33,302,997 · Unrelated business $94,593$33,397,590
Part IX · Statement of functional expenses $30,834,601 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$2,652,746
IX-7 Other salaries and wages$8,643,295
IX-9 Other employee benefits$1,848,691
IX-10 Payroll taxes$623,562
IX-11b Legal fees$9,502
IX-11c Accounting fees$165,081
IX-12 Advertising and promotion$138,429
IX-13 Office expenses$2,191,602
IX-14 Information technology$1,726,391
IX-16 Occupancy$1,332,094
IX-19 Conferences, conventions and meetings$62,515
IX-20 Interest$7,811,193
IX-22 Depreciation, depletion and amortization$1,150,387
IX-23 Insurance$127,306
IX-24 Other expenses (24a–d)$1,932,298
IX-24e All other expenses$419,509
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$30,834,601
Part X · Balance sheet $826,708,185 assets, 13 lines filed
Asset lines not itemized here account for $554,096,419; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $6,353,798$5,895,387
X-2 Savings and temporary cash investmentsStart of year $29,704,985$180,413,267
X-9 Prepaid expenses and deferred chargesStart of year $1,876,408$2,501,943
X-10c Land, buildings and equipment, netStart of year $11,477,098$11,439,974
X-11 Publicly traded securitiesStart of year $55,269,109$50,887,038
X-12 Other securitiesStart of year $3,354,100$3,354,100
X-15 Other assetsStart of year $13,416,822$18,120,057
X-16 Total assetsStart of year $721,279,705$826,708,185
X-17 Accounts payable and accrued expensesStart of year $1,752,923$1,639,458
X-25 Other liabilitiesStart of year $596,369,282$706,281,520
X-26 Total liabilitiesStart of year $669,139,348$772,627,016
X-32 Total net assets or fund balancesStart of year $52,140,357$54,081,169
X-33 Total liabilities and net assetsStart of year $721,279,705$826,708,185
Part XI · Reconciliation of net assets $54,081,169 net assets at year end
XI-1 Total revenue$33,397,590
XI-2 Total expenses$30,834,601
XI-3 Revenue less expenses$2,562,989
XI-4 Net assets at start of year$52,140,357
XI-5 Net unrealized gains (losses) on investments$109,755
XI-9 Other changes in net assets−$731,932
XI-10 Net assets at end of year$54,081,169

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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