Nonprofit · EIN 04-1647690
MUTUAL SAVINGS CENTRAL FUND INC
Also known as DEPOSITORS INSURANCE FUND
Tax-exempt · WOBURN, MA 01801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| October 31, 2025 | 990 | $19,761,142 | $3,489,549 | $16,271,593 | $582,914,539 | $1,994,509 | $580,920,030 |
| October 31, 2024 | 990 | $14,995,248 | $3,951,725 | $11,043,523 | $551,241,640 | $626,274 | $550,615,366 |
| October 31, 2023 | 990 | $9,489,601 | $3,835,372 | $5,654,229 | $518,011,299 | $112,395 | $517,898,904 |
Financial details: 990 for the year ended October 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $19,551,033
- Net gain from sales of assets
- $296
- Other revenue
- $210,109
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,734,106
- Salaries, compensation and benefits (total)
- $2,396,550
- Professional fundraising fees
- $0
- Legal fees
- $29,261
- Accounting fees
- $78,045
- Occupancy
- $65,693
Balance sheet and other
- Total assets, start of year
- $551,241,640
- Total assets, end of year
- $582,914,539
- Total liabilities, end of year
- $1,994,509
- Net assets, end of year
- $580,920,030
- Publicly traded securities
- $568,260,483
- Gross receipts
- $25,404,869
- Employees
- 7
- Volunteers
- 0
- Year formed
- 1932
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended October 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW CALAMARE | PRESIDENT/CEO (RETIRED 12/31/2024) Officer | 35 | $775,435 | $48,608 |
| JUDITH JAVIDPOUR | PRESIDENT/CEO (AS OF 1/1/2025) Officer | 35 | $405,843 | $90,301 |
| ANNEMARIE LEE | VICE PRESIDENT Officer | 35 | $197,661 | $79,270 |
| MATTHEW P CALNAN | SENIOR VICE PRESIDENT Officer | 35 | $192,513 | $82,961 |
| KARA M MCNAMARA | SENIOR VICE PRESIDENT Officer | 30 | $197,127 | $60,493 |
| MAURA VILLANOVA | REPORTS SPECIALIST Highest-paid employee | 35 | $106,328 | $49,277 |
| KEVIN DABRIEO | SVP, CFO (AS OF 1/1/2025) Officer | 35 | $36,716 | $2,015 |
| PETER G BROWN | DIRECTOR Trustee or director | 2 | $18,300 | $0 |
| ROBERT W TERRAVECCHIA JR | DIRECTOR Trustee or director | 2 | $16,800 | $0 |
| EDWARD F MANZI JR | DIRECTOR (ENDED 9/2025) Trustee or director | 2 | $14,800 | $0 |
| JEFFREY WORTH | DIRECTOR Trustee or director | 2 | $12,600 | $0 |
| ROBERT J FRASER | DIRECTOR Trustee or director | 2 | $11,300 | $0 |
| RAIJA L VAISANEN | DIRECTOR Trustee or director | 2 | $8,500 | $0 |
| CAROL MCCLINTOCK | DIRECTOR Trustee or director | 2 | $8,500 | $0 |
| DAVID G FALWELL | DIRECTOR Trustee or director | 2 | $8,000 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MEG MCISAAC | DIRECTOR Trustee or director | 2 | $8,000 |
| ANDREW J RACZKA | DIRECTOR (ENDED 9/2024) Trustee or director | 2 | $7,600 |
| KAZ BORAWSKI | DIRECTOR Trustee or director | 2 | $7,000 |
| ROBERT S KARAM | DIRECTOR (ENDED 12/2024) Trustee or director | 2 | $2,000 |
| JOSEPH T BAPTISTA | DIRECTOR (AS OF 12/2024) Trustee or director | 2 | $2,000 |
990 for the year ended October 31, 2024: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW CALAMARE | PRESIDENT AND CEO Officer | 35 | $908,468 | $75,269 |
| JUDITH JAVIDPOUR | EVP, CFO & TREASURER Officer | 35 | $379,885 | $82,635 |
| ANNEMARIE LEE | VICE PRESIDENT Officer | 35 | $196,158 | $74,647 |
| KARA M MCNAMARA | SENIOR VICE PRESIDENT Officer | 30 | $188,759 | $77,024 |
| MATTHEW P CALNAN | SENIOR VICE PRESIDENT Officer | 35 | $168,612 | $77,779 |
| MAURA VILLANOVA | REPORTS SPECIALIST Highest-paid employee | 35 | $104,655 | $50,242 |
| ROBERT W TERRAVECCHIA JR | DIRECTOR Trustee or director | 2 | $17,000 | $0 |
| PETER G BROWN | DIRECTOR Trustee or director | 2 | $16,500 | $0 |
| EDWARD F MANZI JR | DIRECTOR Trustee or director | 2 | $15,100 | $0 |
| ANDREW J RACZKA ENDED 92024 | DIRECTOR Trustee or director | 2 | $12,100 | $0 |
| DONNA BOULANGER ENDED 32024 | DIRECTOR Trustee or director | 2 | $11,800 | $0 |
| JEFFREY WORTH | DIRECTOR Trustee or director | 2 | $10,800 | $0 |
| RAIJA L VAISANEN | DIRECTOR Trustee or director | 2 | $8,500 | $0 |
| DAVID G FALWELL | DIRECTOR Trustee or director | 2 | $8,000 | $0 |
| MEG MCISAAC | DIRECTOR Trustee or director | 2 | $6,000 | $0 |
| ROBERT J FRASER | DIRECTOR Trustee or director | 2 | $5,500 | $0 |
| CAROL MCCLINTOCK | DIRECTOR Trustee or director | 2 | $5,500 | $0 |
| ROBERT S KARAM | DIRECTOR Trustee or director | 2 | $4,000 | $0 |
| KAZ BORAWSKI AS OF 32024 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOE BAPTISTA AS OF 92024 | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended October 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW CALAMARE | PRESIDENT AND CEO Officer | 35 | $808,977 | $104,443 |
| JUDITH JAVIDPOUR | EVP, CFO & TREASURER Officer | 35 | $372,433 | $69,968 |
| KARA M MCNAMARA | SENIOR VICE PRESIDENT Officer | 30 | $183,718 | $86,530 |
| ANNEMARIE LEE | VICE PRESIDENT Officer | 35 | $195,748 | $64,899 |
| MATTHEW P CALNAN | VICE PRESIDENT Officer | 35 | $164,179 | $55,420 |
| JOHN J D'ALESSANDRO | FORMER SVP Former | 35 | $140,792 | $21,172 |
| MAURA VILLANOVA | REPORTS SPECIALIST Highest-paid employee | 35 | $101,335 | $42,043 |
| ROBERT W TERRAVECCHIA JR | DIRECTOR Trustee or director | 2 | $22,400 | $0 |
| MARK R O'CONNELL ENDED 32023 | DIRECTOR Trustee or director | 2 | $19,100 | $0 |
| EDWARD F MANZI JR | DIRECTOR Trustee or director | 2 | $15,300 | $0 |
| PETER G BROWN | DIRECTOR Trustee or director | 2 | $15,300 | $0 |
| ANDREW J RACZKA | DIRECTOR Trustee or director | 2 | $14,900 | $0 |
| STEVEN E LOWELL ENDED 32023 | DIRECTOR Trustee or director | 2 | $13,800 | $0 |
| RAIJI L VAISANEN | DIRECTOR Trustee or director | 2 | $11,500 | $0 |
| DAVID G FALWELL | DIRECTOR Trustee or director | 2 | $11,000 | $0 |
| ROBERT S KARAM | DIRECTOR Trustee or director | 2 | $10,500 | $0 |
| JEFFREY WORTH | DIRECTOR Trustee or director | 2 | $9,500 | $0 |
| DONNA L BOULANGER | DIRECTOR Trustee or director | 2 | $9,000 | $0 |
| JOHN BATTAGLIA ENDED 32023 | DIRECTOR Trustee or director | 2 | $8,500 | $0 |
| ROBERT FRASER AS OF 32023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CAROL MCCLINTOCK AS OF 32023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
| MEG MCISAAC AS OF 32023 | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 LINSCOTT RD, WOBURN, MA 01801-2001
- In care of
- % NORMAN SEPPALA
- Principal officer (990 for 2024)
- JUDITH M JAVIDPOUR, ONE LINSCOTT ROAD, WOBURN, MA 01801
- Signed the 990
- JUDITH M JAVIDPOUR, PRESIDENT & CEO
- Phone
- (781) 938-1984
- Website
- WWW.DIFXS.COM
- Return prepared by
- WOLF & COMPANY PC
Mission
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.
Program accomplishments
- 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
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in October, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2024 | October 31, 2025 | March 16, 2026 | 990 on file |
| 2023 | October 31, 2024 | March 17, 2025 | 990 on file |
| 2022 | October 31, 2023 | March 15, 2024 | 990 on file |
IRS record
- EIN
- 04-1647690
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1952
- Accounting year ends
- October
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $582,914,539
- Income (IRS master file)
- $25,404,869
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | October 2025 | $19,761,142 | $3,489,549 | $582,914,539 | XML |
| 990 | October 2024 | $14,995,248 | $3,951,725 | $551,241,640 | XML |
| 990 | October 2023 | $9,489,601 | $3,835,372 | $518,011,299 | XML |
| 990 | October 2022 | $5,779,138 | $3,835,675 | $500,673,236 | IRS |
| 990 | October 2021 | – | – | – | IRS |
| 990 | October 2020 | – | – | – | IRS |
| 990 | October 2019 | – | – | – | IRS |
| 990 | October 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-1647690).
Questions about MUTUAL SAVINGS CENTRAL FUND INC
- What is the EIN of MUTUAL SAVINGS CENTRAL FUND INC?
- The employer identification number (EIN) of MUTUAL SAVINGS CENTRAL FUND INC is 04-1647690.
- Is MUTUAL SAVINGS CENTRAL FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1952.
- Are donations to MUTUAL SAVINGS CENTRAL FUND INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MUTUAL SAVINGS CENTRAL FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MUTUAL SAVINGS CENTRAL FUND INC due?
- The return for tax year 2025 (the year ending October 31, 2026) is due March 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MUTUAL SAVINGS CENTRAL FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended October 2025.
- Who is the principal officer of MUTUAL SAVINGS CENTRAL FUND INC?
- The 990 for the year ended October 31, 2025 names JUDITH M JAVIDPOUR.
- Who are the officers and directors of MUTUAL SAVINGS CENTRAL FUND INC?
- The 990 for the year ended October 31, 2025 lists 20 people; 20 received compensation from the organization, the highest $775,435 (ANDREW CALAMARE, PRESIDENT/CEO (RETIRED 12/31/2024)).
- How much revenue does MUTUAL SAVINGS CENTRAL FUND INC have?
- On its 990 for the year ended October 31, 2025 it reported revenue of $19,761,142, expenses of $3,489,549 and total assets of $582,914,539 at year end.
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