Triangle Credit Union FY2021 filing

Nashua, NHUnknown exempt organizationSince 1939 EIN 02-0223137Revenue $30.4M in FY2021

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

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Credit Union

$1.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2021 · 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
$1.8M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
64 mo
of spending, in cash
Plus $169.3M in investments, Pt X · Ln 11–13
Looks good: 63.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$818.4M
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 10 voting members
Looks good: 9 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$30.4M
-9% vs prior year
Spent
$27.0M
To programs
0%
Net assets
$58.9M
By yearFY2020–FY2024
Revenue
$30.4M
FY2021▼ -9%
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
$27.0M
FY2021▼ -12%
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
$58.9M
FY2021▲ +9%
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 FY2021 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

19 people listed on the 990; $1.8M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO and Dire
$365,639Pt VII · Sec A
Executive VP
$324,614Pt VII · Sec A
VP of Lendin
$164,058Pt VII · Sec A
$145,433Pt VII · Sec A
SVP Human Re
$143,204Pt VII · Sec A
VP of Member
$134,500Pt VII · Sec A
SVP Commlend
$133,553Pt VII · Sec A
SVP Marketin
$132,561Pt 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

Programs and updates

Provides banking services and loans to its members.

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1 program · in their own filed words · FY2021
01

Maintenance of member deposit accounts. Number of deposit accounts is 104,704. Making loans to members at market rates of interest. Number of loan accounts is 22,149.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$30.4M
Ln 12
Fees for servicesLn 2g$20.9M
Other incomeLn 4–11$7.7M
Investment incomeLn 3$1.7M
Money outPt IX
$27.0M
Ln 25
Owns and owesPt X
$58.9M
net assets · Ln 32
Cash and savingsLn 1–2$143.8M
Total assetsLn 16$877.3M
LiabilitiesLn 26$818.4M
PeoplePt VI, VII
19
listed · VII A
PaidVII A10
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$20.9M
Investment incomeLn 3$1.7M
Other incomeLn 4–11$7.7M
Gains on assetsLn 7$870K
Total revenueLn 12$30.4M
Assets in detailPt X, end of year
CashLn 1$6.7M
SavingsLn 2$137.1M
Cash and savings togetherLn 1–2$143.8M
InvestmentsLn 11–13$169.3M
Land, buildings, equipmentLn 10c$10.8M
Other assetsLn 15$19.2M
Total assetsLn 16$877.3M
LiabilitiesLn 26$818.4M
Net assetsLn 32$58.9M
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 FY21End FY21
Cash and savingsLn 1–2$186.3M$143.8M
InvestmentsLn 11–13$54.2M$169.3M
Land, buildings, equipmentLn 10c$11.4M$10.8M
Total assetsLn 16$826.7M$877.3M
LiabilitiesLn 26$772.6M$818.4M
Net assetsLn 32$54.1M$58.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.3M
Other salaries and wagesLn 7$8.0M
Other employee benefitsLn 9$2.0M
Payroll taxesLn 10$701K
Legal feesLn 11b$7K
Accounting feesLn 11c$249K
Advertising and promotionLn 12$145K
Office expensesLn 13$2.5M
Information technologyLn 14$1.9M
OccupancyLn 16$1.3M
Conferences, conventions and meetingsLn 19$82K
InterestLn 20$5.1M
Depreciation, depletion and amortizationLn 22$1.1M
InsuranceLn 23$129K
Other expenses (24a–d)Ln 24$1.1M
All other expensesLn 24e$271K
Total functional expensesLn 25$27.0M$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 Viewing $30.4M$27.0M$3.4M$58.9M 990 PDF
FY2020 $33.4M$30.8M$2.6M$54.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $30,352,425 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $23,394,282$20,917,232
I-10 Investment incomePrior year $2,953,140$1,700,107
I-11 Other revenuePrior year $7,050,168$7,735,086
I-12 Total revenuePrior year $33,397,590$30,352,425
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $13,768,294$13,048,076
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $17,066,307$13,946,827
I-18 Total expensesPrior year $30,834,601$26,994,903
I-19 Revenue less expensesPrior year $2,562,989$3,357,522
Part VI · Governance 9 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
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 $30,352,425 across 5 lines filed
Lines not itemized here account for $635,191 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,917,232$20,917,232
VIII-3 Investment incomeExcluded from tax $830,417$830,417
VIII-7 Net gain or loss on sales of assetsRelated to mission $869,690$869,690
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,099,895$7,099,895
VIII-12 Total revenueRelated to mission $29,424,916 · Unrelated business $97,092 · Excluded from tax $830,417$30,352,425
Part IX · Statement of functional expenses $26,994,903 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$2,336,995
IX-7 Other salaries and wages$7,997,258
IX-9 Other employee benefits$2,012,979
IX-10 Payroll taxes$700,844
IX-11b Legal fees$6,828
IX-11c Accounting fees$249,467
IX-12 Advertising and promotion$144,925
IX-13 Office expenses$2,509,348
IX-14 Information technology$1,889,770
IX-16 Occupancy$1,270,810
IX-19 Conferences, conventions and meetings$82,089
IX-20 Interest$5,128,526
IX-22 Depreciation, depletion and amortization$1,137,971
IX-23 Insurance$129,137
IX-24 Other expenses (24a–d)$1,127,372
IX-24e All other expenses$270,584
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$26,994,903
Part X · Balance sheet $877,280,050 assets, 13 lines filed
Asset lines not itemized here account for $529,705,721; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,895,387$6,728,742
X-2 Savings and temporary cash investmentsStart of year $180,413,267$137,107,352
X-9 Prepaid expenses and deferred chargesStart of year $2,501,943$4,475,901
X-10c Land, buildings and equipment, netStart of year $11,439,974$10,776,450
X-11 Publicly traded securitiesStart of year $50,887,038$166,332,508
X-12 Other securitiesStart of year $3,354,100$2,929,500
X-15 Other assetsStart of year $18,120,057$19,223,876
X-16 Total assetsStart of year $826,708,185$877,280,050
X-17 Accounts payable and accrued expensesStart of year $1,602,782$1,827,482
X-25 Other liabilitiesStart of year $706,318,196$755,956,871
X-26 Total liabilitiesStart of year $772,627,016$818,394,175
X-32 Total net assets or fund balancesStart of year $54,081,169$58,885,875
X-33 Total liabilities and net assetsStart of year $826,708,185$877,280,050
Part XI · Reconciliation of net assets $58,885,875 net assets at year end
XI-1 Total revenue$30,352,425
XI-2 Total expenses$26,994,903
XI-3 Revenue less expenses$3,357,522
XI-4 Net assets at start of year$54,081,169
XI-5 Net unrealized gains (losses) on investments$1,042,069
XI-9 Other changes in net assets$405,115
XI-10 Net assets at end of year$58,885,875

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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