Commonwealth Utilities Employees

Marion, MAUnknown exempt organizationEIN 04-6055566Revenue $408K in FY2023

On file with the IRScuecu.org312 Wareham Road · Marion, MA

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Financial services to members

Run by 6 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $237K a year · 24% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$408K
-68% vs prior year
Spent
$224K
To programs
0%
Net assets
$0
By yearFY2020–FY2023
Revenue
$408K
FY2023▼ -68%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.1M
FY2022$1.3M
FY2023$408K
Expenses
$224K
FY2023▼ -75%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$904K
FY2022$883K
FY2023$224K
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.1M
FY2021$7.2M
FY2022$7.6M
FY2023$0

From the FY2023 Form 990 (year ending March 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Asst Treasur
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
2nd Vice Cha
$0Pt VII · Sec A
1st Vice Cha
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Operations/L
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2021FY2020
Pat Saladino—$74,025$123,540
Gloria Camara$98,956$94,481$92,220

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

Commonwealth Utilities Employees is a nonprofit organization based in Marion, MA.

Questions for Commonwealth Utilities Employees

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Maintenance of member loan accounts and share accounts. As of march 31, 2023 the credit union had 849 loan accounts and 3,522 share accounts.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$408K
Ln 12
Investment incomeLn 3$246K
Fees for servicesLn 2g$127K
Other incomeLn 4–11$35K
Money outPt IX
$224K
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$127K
Investment incomeLn 3$246K
Other incomeLn 4–11$35K
Total revenueLn 12$408K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 56
VolunteersI 66
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Total assetsLn 16$50.9M$0
LiabilitiesLn 26$43.4M$0
Net assetsLn 32$7.6M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$69K
Pension plan contributionsLn 8$4K
Other employee benefitsLn 9$18K
Payroll taxesLn 10$7K
Legal feesLn 11b$2K
Advertising and promotionLn 12$375
Office expensesLn 13$6K
Information technologyLn 14$14K
OccupancyLn 16$21K
InterestLn 20$30K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$5K
Other expenses (24a–d)Ln 24$38K
All other expensesLn 24e$7K
Total functional expensesLn 25$224K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $408K$224K$184K$0 990 PDF
FY2022 $1.3M$883K$399K$7.6M 990 PDF
FY2021 $1.1M$904K$177K$7.2M 990 PDF
FY2020 $1.2M$1.0M$189K$7.1M 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 FY2023 990 (6 parts)
Part I · Summary $407,509 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $501,116$126,951
I-10 Investment incomePrior year $625,380$245,902
I-11 Other revenuePrior year $155,379$34,656
I-12 Total revenuePrior year $1,281,875$407,509
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $355,629$97,614
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $527,494$126,206
I-18 Total expensesPrior year $883,123$223,820
I-19 Revenue less expensesPrior year $398,752$183,689
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
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 $407,509 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $126,951$126,951
VIII-3 Investment incomeRelated to mission $245,902$245,902
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $34,656$34,656
VIII-12 Total revenueRelated to mission $407,509$407,509
Part IX · Statement of functional expenses $223,820 across 14 lines filed
IX-7 Other salaries and wages$68,763
IX-8 Pension plan contributions$4,032
IX-9 Other employee benefits$17,717
IX-10 Payroll taxes$7,102
IX-11b Legal fees$2,450
IX-12 Advertising and promotion$375
IX-13 Office expenses$6,116
IX-14 Information technology$13,721
IX-16 Occupancy$21,027
IX-20 Interest$29,732
IX-22 Depreciation, depletion and amortization$1,712
IX-23 Insurance$5,425
IX-24 Other expenses (24a–d)$38,292
IX-24e All other expenses$7,356
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$223,820
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $50,936,191$0
X-26 Total liabilitiesStart of year $43,359,682$0
X-32 Total net assets or fund balancesStart of year $7,576,509$0
X-33 Total liabilities and net assetsStart of year $50,936,191$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$407,509
XI-2 Total expenses$223,820
XI-3 Revenue less expenses$183,689
XI-4 Net assets at start of year$7,576,509
XI-9 Other changes in net assets−$7,760,198
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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