Holy Rosary Credit Union FY2020 filing

Rochester, NHUnknown exempt organizationSince 1962 EIN 02-0272024Revenue $15.3M in FY2020Latest return filed Nov 17, 2025

On file with the IRShrcu.orgRochester, NH

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To be a responsible, community-focused Credit Union

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 02-0272024) · Dispute this line
$871K 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
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.6M a year · 14% of revenue · last 5 filings
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$871K
to officers and key staff · 6% of spending
Pay to officers and key staff is 6% of spending.
Part VII, Section A
80.5 mo
of spending, in cash
80.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$307.9M
92% of total assets
Liabilities are 92% of assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$15.3M
Spent
$13.8M
Net assets
$28.1M
By yearFY2020–FY2024
Revenue
$15.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$15.3M
FY2021$15.4M
FY2022$16.9M
FY2023$20.6M
FY2024$24.4M
Expenses
$13.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$13.8M
FY2021$13.4M
FY2022$14.4M
FY2023$17.6M
FY2024$20.6M
Net assets
$28.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$28.1M
FY2021$30.1M
FY2022$27.8M
FY2023$32.9M
FY2024$38.5M

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

You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

14 people listed on the 990; $871K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
President/CEO
$276,189Pt VII · Sec A
$189,168Pt VII · Sec A
Chief Financial Officer
$147,366Pt VII · Sec A
Chief Information Officer
$124,985Pt VII · Sec A
VP of Digital Strategy & E-Services
$122,001Pt VII · Sec A
VP of Lending
$11,637Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Brian Hughes$358,398$342,249$319,441$296,532$276,189
Rosemary Shields$267,562$206,333$211,106$206,556$189,168
Brian Therrien$205,181$190,792$170,241$162,724$147,366
Ken Mauser$195,909$177,274$156,611$136,471$124,985
Cynthia McCormick$183,096$163,956———
Travis Bissonnette$166,075$151,140$116,598——
Tyler Hudson———$138,097$122,001
Ginger Gagne——$127,548$127,479$11,637

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.

See Holy Rosary Credit Union executive salaries →

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 II3 listed

Programs and updates

Provides financial services and community support as a responsible credit union.

Questions for Holy Rosary Credit Union

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1 program · in their own filed words · FY2020
01

Maintenance of members' share, deposit, and loan accounts.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 02-0272024) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $55K · 2020–2024
Unitemized GrantFY2024$16,500
Unitemized GrantFY2023$11,500
Unitemized GrantFY2022$10,750
Unitemized GrantFY2021$9,000
Unitemized GrantFY2020$7,250

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$15.3M
Ln 12
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$15K
Money outPt IX
$13.8M
Ln 25
Owns and owesPt X
$28.1M
net assets · Ln 32
Cash and savingsLn 1–2$92.8M
Total assetsLn 16$336.1M
LiabilitiesLn 26$307.9M
PeoplePt VI, VII
14
listed · VII A
PaidVII A6
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$15K
Gains on assetsLn 7$15K
Total revenueLn 12$15.3M
Assets in detailPt X, end of year
CashLn 1$5.5M
SavingsLn 2$87.3M
Cash and savings togetherLn 1–2$92.8M
Accounts receivableLn 4$93K
Loans to officers and key peopleLn 5$6.2M
Notes and loans receivableLn 7$221.6M
Prepaid expenses and deferred chargesLn 9$539K
Land, buildings, equipmentLn 10c$7.1M
InvestmentsLn 11–13$6.7M
Other assetsLn 15$996K
Total assetsLn 16$336.1M
LiabilitiesLn 26$307.9M
Net assetsLn 32$28.1M
OperationsPt I, VI
EmployeesI 5115
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$68.4M$92.8M
InvestmentsLn 11–13$7.8M$6.7M
Land, buildings, equipmentLn 10c$7.4M$7.1M
Total assetsLn 16$309.1M$336.1M
LiabilitiesLn 26$281.8M$307.9M
Net assetsLn 32$27.4M$28.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$7K
Pay of officers and key staff (Part IX, line 5)Ln 5$969K
Other salaries and wagesLn 7$3.6M
Pension plan contributionsLn 8$115K
Other employee benefitsLn 9$562K
Payroll taxesLn 10$331K
Legal feesLn 11b$77K
Accounting feesLn 11c$89K
Advertising and promotionLn 12$324K
Office expensesLn 13$109K
Information technologyLn 14$760K
OccupancyLn 16$397K
Conferences, conventions and meetingsLn 19$44K
InterestLn 20$2.1M
Depreciation, depletion and amortizationLn 22$688K
InsuranceLn 23$120K
Other expenses (24a–d)Ln 24$2.8M
All other expensesLn 24e$849K
Total functional expensesLn 25$13.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 17, 2025 $24.4M$20.6M$3.8M$38.5M 990 PDF
FY2023Filed with the IRS Nov 12, 2024 $20.6M$17.6M$3.0M$32.9M 990 PDF
FY2022Filed with the IRS Nov 14, 2023 $16.9M$14.4M$2.5M$27.8M 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $15.4M$13.4M$2.0M$30.1M 990 PDF
FY2020 ViewingFiled with the IRS Nov 11, 2021 $15.3M$13.8M$1.5M$28.1M 990 PDF

Schedules filed Part IV

I · Grants J · Pay O · Explanations
See the full FY2020 990
Part I · Summary $15,309,975 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $14,403,971$14,020,287
I-10 Investment incomePrior year $1,357,973$1,289,688
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $15,761,944$15,309,975
I-13 Grants and similar amounts paidPrior year $6,500$7,250
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,840,454$5,557,451
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,529,053$8,270,555
I-18 Total expensesPrior year $14,376,007$13,835,256
I-19 Revenue less expensesPrior year $1,385,937$1,474,719
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $15,309,975 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,954,111 · Unrelated business $66,176$14,020,287
VIII-3 Investment incomeExcluded from tax $1,274,780$1,274,780
VIII-7 Net gain or loss on sales of assetsRelated to mission $14,908$14,908
VIII-12 Total revenueRelated to mission $13,969,019 · Unrelated business $66,176 · Excluded from tax $1,274,780$15,309,975
Part IX · Statement of functional expenses $13,835,256 across 18 lines filed
IX-2 Grants to domestic individuals$7,250
IX-5 Pay of officers and key staff (Part IX, line 5)$968,688
IX-7 Other salaries and wages$3,581,731
IX-8 Pension plan contributions$114,716
IX-9 Other employee benefits$561,547
IX-10 Payroll taxes$330,769
IX-11b Legal fees$76,941
IX-11c Accounting fees$89,004
IX-12 Advertising and promotion$323,956
IX-13 Office expenses$108,753
IX-14 Information technology$759,991
IX-16 Occupancy$396,829
IX-19 Conferences, conventions and meetings$44,261
IX-20 Interest$2,061,731
IX-22 Depreciation, depletion and amortization$687,775
IX-23 Insurance$120,121
IX-24 Other expenses (24a–d)$2,751,944
IX-24e All other expenses$849,249
IX-25 Total functional expenses$13,835,256
Part X · Balance sheet $336,061,351 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $5,744,159$5,547,352
X-2 Savings and temporary cash investmentsStart of year $62,626,523$87,289,088
X-4 Accounts receivableStart of year $59,846$92,717
X-5 Loans to officers and key peopleStart of year $6,093,816$6,175,749
X-7 Notes and loans receivableStart of year $217,901,839$221,607,865
X-9 Prepaid expenses and deferred chargesStart of year $578,087$539,360
X-10c Land, buildings and equipment, netStart of year $7,357,667$7,143,611
X-12 Other securitiesStart of year $7,762,553$6,669,612
X-15 Other assetsStart of year $1,021,573$995,997
X-16 Total assetsStart of year $309,146,063$336,061,351
X-17 Accounts payable and accrued expensesStart of year $705,603$929,040
X-25 Other liabilitiesStart of year $281,070,851$307,002,686
X-26 Total liabilitiesStart of year $281,776,454$307,931,726
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $27,369,609$28,129,625
X-32 Total net assets or fund balancesStart of year $27,369,609$28,129,625
X-33 Total liabilities and net assetsStart of year $309,146,063$336,061,351
Part XI · Reconciliation of net assets $28,129,625 net assets at year end
XI-1 Total revenue$15,309,975
XI-2 Total expenses$13,835,256
XI-3 Revenue less expenses$1,474,719
XI-4 Net assets at start of year$27,369,609
XI-9 Other changes in net assets−$714,703
XI-10 Net assets at end of year$28,129,625

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

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