Nonprofit · EIN 05-0255777
CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION
Tax-exempt · CRANSTON, RI 02920
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,699,290 | $3,846,104 | -$146,814 | $80,578,999 | $68,733,016 | $11,845,983 |
| December 31, 2023 | 990 | $3,235,714 | $3,007,878 | $227,836 | $83,595,085 | $71,560,715 | $12,034,370 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,989,689
- Investment income
- $502,172
- Other revenue
- $207,429
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $37,600
- Other salaries and wages
- $667,965
- Salaries, compensation and benefits (total)
- $1,172,161
- Professional fundraising fees
- $0
- Legal fees
- $1,153
- Accounting fees
- $51,143
- Occupancy
- $58,079
- Travel
- $340
- Depreciation
- $37,161
Balance sheet and other
- Total assets, start of year
- $83,595,085
- Total assets, end of year
- $80,578,999
- Total liabilities, end of year
- $68,733,016
- Net assets, end of year
- $11,845,983
- Land, buildings and equipment
- $2,919,211
- Publicly traded securities
- $18,795,774
- Gross receipts
- $3,699,290
- Employees
- 16
- Year formed
- 1946
- State of legal domicile
- RI
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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRIAN W DUCHARME | FORMER PRES/ Former | 40 | $192,178 | $21,458 |
| STEPHEN P HOGAN | CHAIRPERSON Trustee or director, Officer | 5 | $7,580 | $0 |
| GAIL TOPAKIAN | CREDIT COMMI Trustee or director | 5 | $7,460 | $0 |
| JOHN R ZOLLI JR | SECRETARY Trustee or director, Officer | 2 | $5,380 | $0 |
| ANTHONY J VECCHIO | CREDIT COMMI Trustee or director | 5 | $5,250 | $0 |
| JOSEPH DILORENZO | SUPERVISORY Trustee or director | 3 | $5,140 | $0 |
| JOSEPH A BALDUCCI | VICE-CHAIRPE Trustee or director, Officer | 2 | $4,580 | $0 |
| MARIA K MANZI | ASSISTANT TR Trustee or director, Officer | 2 | $4,380 | $0 |
| MICHAEL J IGOE | SUPERVISORY Trustee or director | 3 | $3,200 | $0 |
| BETTE ANN BERK | BOARD MEMBER Trustee or director | 1 | $2,480 | $0 |
| ROBERT F STROM | SUPERVISORY Trustee or director | 3 | $2,420 | $0 |
| DONALD SALVATORE JR | BOARD MEMBER Trustee or director | 1 | $2,280 | $0 |
| JASON ANDOSCIA | BOARD MEMBER Trustee or director | 1 | $2,280 | $0 |
| PETER J LECLERC | BOARD MEMBER Trustee or director | 1 | $2,040 | $0 |
| THOMAS M MILEWSKI | BOARD MEMBER Trustee or director | 1 | $1,920 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PATRICIA CRUZ | BOARD MEMBER Trustee or director | 1 | $1,920 |
| JOSEPH MORRIS | BOARD MEMBER Trustee or director | 1 | $1,680 |
| RICHARD DEGRANDPRE | BOARD MEMBER Trustee or director | 1 | $1,080 |
| TIMOTHY J DYL | PRESIDENT/CE Trustee or director, Officer | 40 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRIAN W DUCHARME | TREASURER/PR Trustee or director, Officer | 40 | $192,178 | $30,458 |
| BRYAN BAPTISTE | CREDIT COMMI Officer | 40 | $141,972 | $6,304 |
| STEPHEN P HOGAN | CHAIRPERSON Trustee or director, Officer | 5 | $10,155 | $0 |
| JOHN R ZOLLI JR | SECRETARY Trustee or director, Officer | 2 | $7,135 | $0 |
| GAIL TOPAKIAN | CREDIT COMMI Trustee or director | 5 | $5,690 | $0 |
| MARIA K MANZI | ASSISTANT TR Trustee or director, Officer | 2 | $4,635 | $0 |
| JOSEPH A BALDUCCI | VICE-CHAIRPE Trustee or director, Officer | 2 | $4,365 | $0 |
| JOSEPH DILORENZO | SUPERVISORY Trustee or director | 3 | $3,630 | $0 |
| ANTHONY J VECCHIO | CREDIT COMMI Trustee or director | 5 | $3,430 | $0 |
| BETTE ANN BERK | BOARD MEMBER Trustee or director | 2 | $2,505 | $0 |
| PETER J LECLERC | BOARD MEMBER Trustee or director | 2 | $2,280 | $0 |
| RICHARD DEGRANDPRE | BOARD MEMBER Trustee or director | 2 | $2,220 | $0 |
| DONALD SALVATORE JR | BOARD MEMBER Trustee or director | 2 | $2,160 | $0 |
| JOSEPH MORRIS | BOARD MEMBER Trustee or director | 2 | $2,160 | $0 |
| THOMAS M MILEWSKI | BOARD MEMBER Trustee or director | 2 | $2,040 | $0 |
| MICHAEL J IGOE | SUPERVISORY Trustee or director | 3 | $1,630 | $0 |
| ROBERT F STROM | SUPERVISORY Trustee or director | 3 | $865 | $0 |
| JASON ANDOSCIA | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
| PATRICIA CRUZ | BOARD MEMBER Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1615 PONTIAC AVE, CRANSTON, RI 02920-4491
- Principal officer (990 for 2024)
- TIMOTHY J DYL, 1615 PONTIAC AVENUE, CRANSTON, RI 02920
- Signed the 990
- TIMOTHY J DYL, PRESIDENT/CEO
- Phone
- (401) 463-3010
- Website
- WWW.CMECREDITUNION.ORG
- Return prepared by
- WADOVICK & COMPANY
Mission
THE MISSION OF THE CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION IS TO PROVIDE OPPORTUNITY FOR MEMBERS TO SAVE AND BORROW FOR CURRENT AND FUTURE NEEDS AT A FINANCIALLY STRONG, MEMBER OWNED COOPERATIVE RESPONSIVE TO THEIR EXPANDING FINANCIAL SERVICE NEEDS. THE CREDIT UNION SEEKS TO PROVIDE OUTSTANDING SERVICE AT FAIR AND FAVORABLE RATES AND TERMS.
Program accomplishments
- INTEREST WAS PAID TO MEMBERS WITH SAVINGS ACCOUNTS AND CERTIFICATES OF DEPOSIT DURING 2024 WHICH TOTALED 1,025,650.
- DURING 2024, THE CREDIT UNION ISSUED 423 NEW LOANS TOTALING 8,562,903. TOTAL INTEREST INCOME ON LOANS ISSUED TO MEMBERS WAS 2,840,168.
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 05-0255777
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1988
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W61Z)
- Assets (IRS master file)
- $80,578,999
- Income (IRS master file)
- $3,699,290
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,699,290 | $3,846,104 | $80,578,999 | IRS |
| 990 | December 2023 | $3,235,714 | $3,007,878 | $83,595,085 | XML |
| 990 | December 2022 | $3,389,214 | $1,932,014 | $73,342,756 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 05-0255777).
Questions about CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION
- What is the EIN of CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION?
- The employer identification number (EIN) of CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION is 05-0255777.
- Is CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1988.
- Are donations to CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION 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 CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION?
- The 990 for the year ended December 31, 2024 names TIMOTHY J DYL.
- Who are the officers and directors of CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 19 people; 18 received compensation from the organization, the highest $192,178 (BRIAN W DUCHARME, FORMER PRES/).
- How much revenue does CRANSTON MUNICIPAL EMPLOYEES CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,699,290, expenses of $3,846,104 and total assets of $80,578,999 at year end.
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