Destinations Credit Union

Not tax-deductible

Baltimore, MDMutual-benefit / member-servingEIN 52-0238203Revenue $3.8M in FY2024

On file with the IRSdestinationscu.org8767 Satyr Hill Rd, 21234-2825 · Baltimore, MDTax-exempt since Mar 1998

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State chartered Credit Union

$476K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
2 of 5
filings with a surplus
Average deficit $10K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 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
$476K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
26 mo
of spending, in cash
Looks good: 25.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$362K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
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
$3.8M
+11% vs prior year
Spent
$3.7M
To programs
0%
Net assets
$63.2M
By yearFY2020–FY2024
Revenue
$3.8M
FY2024▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$3.2M
FY2022$3.2M
FY2023$3.4M
FY2024$3.8M
Expenses
$3.7M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.5M
FY2021$3.2M
FY2022$3.2M
FY2023$3.5M
FY2024$3.7M
Net assets
$63.2M
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$65.6M
FY2021$69.5M
FY2022$66.7M
FY2023$64.4M
FY2024$63.2M

From the FY2024 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 ruling in Mar 1998.

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

Who runs it and what they're paid

10 people listed on the 990; $476K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$167,457Pt VII · Sec A
$119,344Pt VII · Sec A
$98,233Pt VII · Sec A
VP Branch Ops
$90,661Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Secretary/Treas
$0Pt 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 Vittek$167,457$167,495$166,996$166,487$161,929
Walter Sciolli$119,344$116,569$109,705$111,090—
Christina Kailer$98,233$96,056$93,481$89,984$80,466
Kristal Maynard$90,661————
Leonidas Session———$2,851$3,927
Joan Montgomery—$1,012$3,543$3,266$3,251
Reid Kreider—$400$2,889$3,176$3,535
William Lovelace—$738$2,124$2,229$2,327

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 II9 listed

Programs and updates

Destinations Credit Union is a member-serving organization based in Baltimore, MD.

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Provided by the organization

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1 program · $3.7M · in their own filed words · FY2024
01

Destinations credit union provides financial services to its 5,890 members.

$3.7Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.8M
Ln 12
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$678K
Money outPt IX
$3.7M
Ln 25
Owns and owesPt X
$63.2M
net assets · Ln 32
Cash and savingsLn 1–2$7.9M
Total assetsLn 16$63.5M
LiabilitiesLn 26$362K
PeoplePt VI, VII
10
listed · VII A
PaidVII A4
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.1M
Investment incomeLn 3$678K
Gains on assetsLn 7$0
Total revenueLn 12$3.8M
Assets in detailPt X, end of year
CashLn 1$4.1M
SavingsLn 2$3.8M
Cash and savings togetherLn 1–2$7.9M
InvestmentsLn 11–13$21.0M
Land, buildings, equipmentLn 10c$2.2M
Other assetsLn 15$2.5M
Total assetsLn 16$63.5M
LiabilitiesLn 26$362K
Net assetsLn 32$63.2M
OperationsPt I, VI
EmployeesI 525
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$7.5M$7.9M
InvestmentsLn 11–13$20.6M$21.0M
Land, buildings, equipmentLn 10c$2.4M$2.2M
Total assetsLn 16$64.8M$63.5M
LiabilitiesLn 26$404K$362K
Net assetsLn 32$64.4M$63.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$529K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$725K
Pension plan contributionsLn 8$23K
Other employee benefitsLn 9$88K
Payroll taxesLn 10$107K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$121K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$68K
Office expensesLn 13$110K
Information technologyLn 14$534K
RoyaltiesLn 15$0
OccupancyLn 16$122K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$9K
InterestLn 20$534K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$125K
InsuranceLn 23$34K
Other expenses (24a–d)Ln 24$576K
All other expensesLn 24e$2
Total functional expensesLn 25$3.7M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.8M$3.7M$81K$63.2M 990 PDF
FY2023 $3.4M$3.5M−$63K$64.4M 990 PDF
FY2022 $3.2M$3.2M−$47K$66.7M 990 PDF
FY2021 $3.2M$3.2M$24K$69.5M 990 PDF
FY2020 $3.4M$3.5M−$43K$65.6M 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 FY2024 990 (6 parts)
Part I · Summary $3,786,101 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $2,956,939$3,107,872
I-10 Investment incomePrior year $440,128$678,229
I-11 Other revenue$0
I-12 Total revenuePrior year $3,397,067$3,786,101
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,469,486$1,471,445
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,990,521$2,234,099
I-18 Total expensesPrior year $3,460,007$3,705,544
I-19 Revenue less expensesPrior year −$62,940$80,557
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $3,786,101 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,105,219 · Unrelated business $2,653$3,107,872
VIII-3 Investment incomeExcluded from tax $678,229$678,229
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $3,105,219 · Unrelated business $2,653 · Excluded from tax $678,229$3,786,101
Part IX · Statement of functional expenses $3,705,544 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$528,578
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$724,817
IX-8 Pension plan contributions$22,714
IX-9 Other employee benefits$87,965
IX-10 Payroll taxes$107,371
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$121,350
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$68,012
IX-13 Office expenses$109,975
IX-14 Information technology$534,090
IX-15 Royalties$0
IX-16 Occupancy$122,000
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$9,077
IX-20 Interest$533,906
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$125,372
IX-23 Insurance$33,914
IX-24 Other expenses (24a–d)$576,401
IX-24e All other expenses$2
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$3,705,544
Part X · Balance sheet $63,532,666 assets, 17 lines filed
Asset lines not itemized here account for $29,735,595; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,454,708$4,100,202
X-2 Savings and temporary cash investmentsStart of year $4,017,513$3,764,179
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $131,775$108,902
X-10c Land, buildings and equipment, netStart of year $2,354,451$2,243,031
X-11 Publicly traded securitiesStart of year $20,614,379$21,042,210
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,841,105$2,538,547
X-16 Total assetsStart of year $64,767,949$63,532,666
X-17 Accounts payable and accrued expensesStart of year $403,612$361,673
X-26 Total liabilitiesStart of year $403,612$361,673
X-32 Total net assets or fund balancesStart of year $64,364,337$63,170,993
X-33 Total liabilities and net assetsStart of year $64,767,949$63,532,666
Part XI · Reconciliation of net assets $63,170,993 net assets at year end
XI-1 Total revenue$3,786,101
XI-2 Total expenses$3,705,544
XI-3 Revenue less expenses$80,557
XI-4 Net assets at start of year$64,364,337
XI-5 Net unrealized gains (losses) on investments$838,417
XI-9 Other changes in net assets−$2,112,318
XI-10 Net assets at end of year$63,170,993

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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