2025-07-28T10:19:19-05:00 2024-10-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2023-11-01 041647690 DEPOSITORS INSURANCE FUND DEPO 7819381984 ONE LINSCOTT ROAD WOBURN MA 01801 JUDITH M JAVIDPOUR PRESIDENT & CEO 7819381984 2025-07-28 1 1 KAREN S NG P01067482 6174399700 2025-07-28 2023 2025-03-06 01:10:19Z JUDITH M JAVIDPOUR ONE LINSCOTT ROAD WOBURN MA 01801 26636249 0 X WWW.DIFXS.COM X 1932 MA INSURES THOSE DEPOSITS IN EXCESS OF THE FDIC LIMITS AND ALSO PROVIDES TEMPORARY LIQUIDITY TO MEMBER BANKS BY MAKING LOANS TO THEM, SECURED BY MEMBER BANKS' ASSETS. 12 8 6 0 0 0 0 0 0 0 9489601 14995248 0 0 9489601 14995248 0 0 0 0 2610425 2895152 0 0 0 1224947 1056573 3835372 3951725 5654229 11043523 518011299 551241640 112395 626274 517898904 550615366 INSURES THOSE DEPOSITS IN EXCESS OF THE FDIC LIMITS AND ALSO PROVIDES TEMPORARY LIQUIDITY TO MEMBER BANKS BY MAKING LOANS TO THEM, SECURED BY MEMBER BANKS' ASSETS. 0 0 THE LIQUIDITY FUND WAS ESTABLISHED IN 1932 FOR THE PURPOSE OF PROVIDING TEMPORARY LIQUIDITY TO MEMBER BANKS BY MAKING LOANS TO THEM SECURED BY MEMBER BANKS' ASSETS. DEPOSIT INSURANCE FUND WAS ESTABLISHED IN 1934 FOR THE INSURANCE OF ALL DEPOSITS IN MASSACHUSETTS SAVINGS BANKS. CURRENTLY ALL MASSACHUSETTS SAVINGS BANKS AND COOPERATIVE BANKS ARE MEMBERS OF THE FDIC. THEREFORE, THE FUND CURRENTLY INSURES ONLY THOSE DEPOSITS IN EXCESS OF THE FDIC LIMITS 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 26 0 1 6 1 0 0 0 0 0 0 0 0 X 12 8 1 1 0 0 1 1 0 1 1 0 0 0 1 1 1 1 0 1 1 0 X KEVIN J DABRIEO 7819944229 ONE LINSCOTT ROAD WOBURN MA 01801 ANDREW J RACZKA ENDED 92024 DIRECTOR 2.00 X 12100 0 0 DAVID G FALWELL DIRECTOR 2.00 X 8000 0 0 DONNA BOULANGER ENDED 32024 DIRECTOR 2.00 X 11800 0 0 EDWARD F MANZI JR DIRECTOR 2.00 X 15100 0 0 JEFFREY WORTH DIRECTOR 2.00 X 10800 0 0 PETER G BROWN DIRECTOR 2.00 X 16500 0 0 RAIJA L VAISANEN DIRECTOR 2.00 X 8500 0 0 ROBERT S KARAM DIRECTOR 2.00 X 4000 0 0 ROBERT W TERRAVECCHIA JR DIRECTOR 2.00 X 17000 0 0 ROBERT J FRASER DIRECTOR 2.00 X 5500 0 0 CAROL MCCLINTOCK DIRECTOR 2.00 X 5500 0 0 MEG MCISAAC DIRECTOR 2.00 X 6000 0 0 KAZ BORAWSKI AS OF 32024 DIRECTOR 2.00 X 0 0 0 JOE BAPTISTA AS OF 92024 DIRECTOR 2.00 X 0 0 0 ANDREW CALAMARE PRESIDENT AND CEO 35.00 X 908468 0 75269 ANNEMARIE LEE VICE PRESIDENT 35.00 X 196158 0 74647 JUDITH JAVIDPOUR EVP, CFO & TREASURER 35.00 X 379885 0 82635 KARA M MCNAMARA SENIOR VICE PRESIDENT 30.00 X 188759 0 77024 MATTHEW P CALNAN SENIOR VICE PRESIDENT 35.00 X 168612 0 77779 MAURA VILLANOVA REPORTS SPECIALIST 35.00 X 104655 0 50242 2067337 0 437596 6 0 1 0 LONGFELLOW INVESTMENT MGMT COMPANY 125 HIGH ST OLIVER TOWER SUITE 832 BOSTON MA 02110 INVESTMENT MGMT 271462 THE BRENNAN GROUP ONE WALNUT STREET BOSTON MA 02108 LOBBYING/STRATEGIC PLANNING 125040 SYNERGISTIC ONLINE SOLUTIONS 710 NORTH STREET BATAVIA BATAVIA NY 14020 INTERNET PROGRAMMING 118770 3 14989521 14989521 11646728 11641001 5727 5727 5727 14995248 0 0 14995248 2237925 111788 251947 199018 94474 6039 68810 90000 285343 188459 9024 47867 76223 71966 24631 134272 BANK SERVICE CHARGES 47680 MISCELLANEOUS 4190 DUES/MEMBERSHIPS 2069 3951725 1520187 5578472 128378 1339875 507711415 535448138 8651319 8875155 518011299 551241640 112395 626274 112395 626274 X 517898904 550615366 0 0 0 0 517898904 550615366 518011299 551241640 X 11043523 16439254 5233685 X X 0 1 X 1 0 0 OTHER ACCRUED LIABILITIES 84799 ACCRUED PENSION LIABILITIES 177675 ACCRUED EMPLOYEE BENEFITS 363800 626274 19528162 4718681 4718681 14809481 185767 185767 14995248 3909207 0 3909207 42518 42518 3951725 PART XI, LINE 2D - OTHER ADJUSTMENTS: ASSESSMENTS FROM MEMBERS 4,718,681. PART XI, LINE 4B - OTHER ADJUSTMENTS: LIQUIDITY FUND INCOME 185,767. PART XII, LINE 4B - OTHER ADJUSTMENTS: LIQUIDITY FUND EXPENSES 42,518. PARTS XI & XII - RECONCILIATION OF REVENUE AND EXPENSES: DEPOSITORS INSURANCE FUND AND LIQUIDITY FUND FILE A CONSOLIDATED FORM 990 BUT THEY HAVE SEPARATED AUDITED FINANCIAL STATEMENTS. X X X 0 0 0 ANDREW CALAMARE PRESIDENT AND CEO 692086 0 200000 0 16382 0 43146 0 32123 0 983737 0 147600 0 JUDITH JAVIDPOUR EVP, CFO & TREASURER 307047 0 70000 0 2838 0 51804 0 30831 0 462520 0 0 0 ANNEMARIE LEE VICE PRESIDENT 176135 0 16000 0 4023 0 44834 0 29813 0 270805 0 0 0 KARA M MCNAMARA SENIOR VICE PRESIDENT 166742 0 20700 0 1317 0 50670 0 26354 0 265783 0 0 0 MATTHEW P CALNAN SENIOR VICE PRESIDENT 143991 0 23500 0 1121 0 48449 0 29330 0 246391 0 0 0 MAURA VILLANOVA REPORTS SPECIALIST 96303 0 7000 0 1352 0 21599 0 28643 0 154897 0 0 0 PART II, COLUMN F ANDREW CALAMARE RECEIVED $147,600 SERP PAYMENT. MAURA VILLANOVA SISTER OF KARA M. MCNAMARA, CURRENT OFFICER 111788 COMPENSATION PAID BY DIF FOR SERVICES AS A HIGHLY COMPENSATED EMPLOYEE 0 FORM 990, PART VI, SECTION A, LINE 2 THREE OF OUR DIRECTORS ARE ALSO DIRECTORS OF THE MASSACHUSETTS BANKERS ASSOCIATION. TWO OF OUR DIRECTORS ARE ALSO DIRECTORS OF THE SAVINGS BANK EMPLOYEES RETIREMENT ASSOCIATION. TWO OF OUR DIRECTORS ARE ALSO DIRECTORS OF FEDERAL HOME LOAN BANK OF BOSTON. FORM 990, PART VI, SECTION A, LINE 3 THE DEPOSITORS INSURANCE FUND (DIF) HAS CONTRACTED WITH LONGFELLOW INVESTMENT MANAGEMENT, INC. TO MANAGE APPROXIMATELY 70% OF THE DIF'S INVESTMENT PORTFOLIO. LONGFELLOW'S INVESTMENT ACTIVITIES ARE GOVERNED BY SPECIFIC INVESTMENT POLICIES AND INVESTMENT GUIDELINES ADOPTED ANNUALLY BY THE INVESTMENT COMMITTEE OR BY THE BOARD. THE BOARD REVIEWS AND APPROVES ALL PURCHASES AND SALES OF INVESTMENTS FOR THE PREVIOUS QUARTER AT ITS QUARTERLY BOARD MEETING. FORM 990, PART VI, SECTION A, LINE 6 THE DEPOSITORS INSURANCE FUND IS A PRIVATE SPECIAL ACT CORPORATION ESTABLISHED BY THE COMMONWEALTH OF MASSACHUSETTS. THE FUND IS OPERATED AND WHOLLY OWNED BY ITS MEMBERS ALL 72 STATE CHARTERED SAVINGS AND COOPERATIVE BANKS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS THE GOVERNING BODY OF THE DEPOSITORS INSURANCE FUND. ALL MEMBERS ARE ELIGIBLE TO VOTE ANNUALLY IN AN ELECTION FOR DIRECTORS. THE TERM LIMITS FOR DIRECTORS ARE PURSUANT TO THE FUND'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE DIF'S AUDITING FIRM USING INFORMATION FROM THE AUDIT AND ADDITIONAL INFORMATION SUPPLIED BY THE DIF'S TREASURER. THE TREASURER REVIEWS AND APPROVES THE FORM 990 FOR ACCURACY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE DIF RECEIVES OVERSIGHT FROM THE BOARD OF DIRECTORS AND ITS COMMITTEES TO ENSURE THAT SUCH POLICIES ARE ADHERED TO ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND OTHER OFFICERS ARE ADDRESSED IN DECEMBER OF EACH YEAR BY THE COMPENSATION COMMITTEE WHICH IS THEN APPROVED AND RATIFIED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE DIF'S CHARTER IS CODIFIED IN CHAPTER 44 OF THE MASSACHUSETTS ACTS OF 1932, AS AMENDED, AND CHAPTER 43 OF THE MASSACHUSETTS ACTS OF 1934, AS AMENDED. AS SUCH, THE DIF'S CHARTER IS AVAILABLE TO THE PUBLIC. THE DIF'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE DIF'S WEBSITE AND IS ALSO AVAILABLE UPON REQUEST. THE DIF'S CONFLICTS OF INTEREST POLICY AND THE FEDERAL FORM 990 ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FAS 158 CHANGE IN PENSION LIABILITY 515,004. ASSESSMENTS FROM MEMBERS 4,718,681. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELETION PROCESS DURING THE FISCAL YEAR 10/31/2024.