Nonprofit · EIN 06-0655039
NUTMEG STATE FINANCIAL CREDIT UNION
Tax-exempt · ROCKY HILL, CT 06067
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $42,153,342 | $39,668,633 | $2,484,709 | $697,084,624 | $616,759,819 | $80,324,805 |
| December 31, 2023 | 990 | $34,047,640 | $31,904,625 | $2,143,015 | $584,719,438 | $512,249,732 | $72,469,706 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $34,954,717
- Investment income
- $6,990,064
- Net rental income
- $208,561
- Net gain from sales of assets
- $2,248,362
- Other revenue
- $208,561
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $4,045,395
- Other salaries and wages
- $6,988,889
- Salaries, compensation and benefits (total)
- $13,588,509
- Professional fundraising fees
- $0
- Occupancy
- $2,978,648
- Travel
- $348,916
- Depreciation
- $799,383
Balance sheet and other
- Total assets, start of year
- $584,719,438
- Total assets, end of year
- $697,084,624
- Total liabilities, end of year
- $616,759,819
- Net assets, end of year
- $80,324,805
- Land, buildings and equipment
- $5,826,339
- Gross unrelated business income
- $491,177
- Gross receipts
- $42,083,890
- Employees
- 141
- Volunteers
- 0
- Year formed
- 1936
- State of legal domicile
- CT
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 |
|---|---|---|---|---|
| JOHN HOLT | CHIEF EXECUTIVE OFFICER Officer | 40 | $1,040,824 | $50,078 |
| PATRICK AHERN | PRESIDENT, CHIEF OPERATING OFFICER Officer | 40 | $552,702 | $50,339 |
| HEATHER GATES | SVP, CHIEF LENDING OFFICER Officer | 40 | $299,863 | $61,323 |
| ROBIN DEL VECCHIO | SVP TECHNOLOGY & OPERATIONS Officer | 40 | $266,750 | $60,892 |
| MARK CORNACCHIO | STRATEGIC ADVISOR Officer | 40 | $306,813 | $16,246 |
| VINCENT ANGELILLO | SVP SALES & MARKETING, CHIEF EXPERIENCE OFFICER Officer | 40 | $293,150 | $24,528 |
| CRAIG KNELL | SVP, CHIEF FINANCIAL OFFICER Officer | 40 | $278,382 | $24,971 |
| KENNETH LAWLESS | DIRECTOR, INFORMATION TECHNOLOGY SERVICES Key employee | 40 | $194,522 | $22,446 |
| SHANON PETERS | DIRECTOR, ENTERPRISE RISK MANAGEMENT Highest-paid employee | 40 | $146,043 | $41,454 |
| JAVIER ROMAN | DIRECTOR MEMBER SUCCESS Key employee | 40 | $164,937 | $17,806 |
| JULIE ELDRIDGE | DIRECTOR, PEOPLE AND CULTURE Key employee | 40 | $160,386 | $20,601 |
| SHANE DUGAN | COMMERCIAL AND MORTGAGES Key employee | 40 | $157,457 | $18,329 |
| KYLE CHRISTOPHER DAHN | DIRECTOR OF ACCOUNTING Key employee | 40 | $168,591 | $4,573 |
| DEVIN OBEDZINSKI | FINANCE DIRECTOR Highest-paid employee | 40 | $123,567 | $47,937 |
| AL FESTINI | STRATEGIC PARTNERSHIPS Officer | 40 | $161,381 | $0 |
11 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| PATRICK O'NEILL | INFORMATION SECURITY ANALYST Highest-paid employee | 40 | $134,063 | $20,252 |
| KATY LITTLE | DIRECTOR, CONSUMER LENDING Highest-paid employee | 40 | $131,331 | $18,558 |
| DANIELLE JACK | DIRECTOR OF ADMINISTRATION Highest-paid employee | 40 | $129,398 | $17,214 |
| DR LUIS RAMOS | CHAIR Trustee or director | 1 | $14,253 | $0 |
| MIKE PETTI | VICE CHAIR Trustee or director | 1 | $13,467 | $0 |
| WALLACE ABRAMSON | DIRECTOR EMERITUS Trustee or director | 1 | $7,800 | $0 |
| MARIA DEMARCO | SUPERVISORY COMMITTEE CHAIR Trustee or director | 1 | $7,800 | $0 |
| STEVEN HERNANDEZ ESQ | 2GEN COMMITTEE CHAIR Trustee or director | 1 | $5,200 | $0 |
| MIKE GODBOUT | TREASURER Trustee or director | 1 | $3,367 | $0 |
| BETH BUNKO | SECRETARY Trustee or director | 1 | $1,394 | $0 |
| PJ CIMINI ESQ | GOVERNANCE COMMITTEE CHAIR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN HOLT | CHIEF EXECUTIVE OFFICER Officer | 1 | $921,780 |
| PATRICK AHERN | PRESIDENT/COO Trustee or director, Officer | 1 | $416,506 |
| VINCENT G ANGELILLO | SVP SALES & MARKETING Officer | 1 | $283,340 |
| AL FESTNI | SVP - STRATEGIC PARTNERSHIPS AND COMMUNITY DEV Officer | 1 | $251,684 |
| CRAIG KNELL | SVP - CHIEF FINANCIAL OFFICER Officer | 1 | $239,367 |
| ROBIN DEL VECCHIO | SVP - TECHNOLOGY AND OPERATIONS Officer | 1 | $218,752 |
| SHANE P DUGAN | VICE PRESIDENT - COMMERCIAL & MORTGAGE LENDING Key employee | 1 | $175,524 |
| JOHN KORBER | SVP - STRATEGY AND INNOVATION Officer | 1 | $172,197 |
| JAVIER ROMAN | DIRECTOR - MEMBER SUCCESS Key employee | 1 | $155,716 |
| HEATHER GATES | SVP - CHIEF LENDING OFFICER Officer | 1 | $154,808 |
| MARC RIETZE | PRODUCT MARKETING MANAGER Key employee | 1 | $154,505 |
| LUIS RAMOS | BOARD CHAIRMAN Trustee or director | 1 | $7,897 |
| WALLACE ABRAMSON | BOARD TREASURER Trustee or director | 1 | $7,813 |
| PJ CIMINI ESQ | BOARD MEMBER Trustee or director | 1 | $7,800 |
| MICHAEL PETTI | BOARD VICE-CHAIRMAN Trustee or director | 1 | $7,795 |
| MARIA DEMARCO | SUPERVISORY COMMITTEE Trustee or director | 1 | $3,913 |
| MICHAEL GODBOUT | BOARD MEMBER Trustee or director | 1 | $2,600 |
| MARYBETH BUNKO | BOARD SECRETARY Trustee or director | 1 | $1,150 |
Address and contacts
- Address (IRS master file)
- 500 ENTERPRISE DR STE 4A, ROCKY HILL, CT 06067-3913
- Principal officer (990 for 2024)
- CRAIG KNELL, 500 ENTERPRISE DRIVE 4A, ROCKY HILL, CT 06067
- Signed the 990
- CRAIG KNELL, CHIEF FINANCIAL OFFICER
- Phone
- (860) 513-5000
- Website
- WWW.NUTMEGSTATEFCU.ORG
- Return prepared by
- WHITTLESEY PC
Mission
TO CREATE MULTI-GENERATIONAL PROSPERITY BY PROVIDING INCLUSIVE AND EQUITABLE ACCESS TO FINANCIAL PRODUCTS, SERVICES AND EDUCATION.
Program accomplishments
- TO PROVIDE FINANCIAL SERVICES TO OUR MEMBERS WITH LOW INTEREST RATE LOANS AND HIGH DIVIDEND RATE SHARE ACCOUNTS.
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
- 06-0655039
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1976
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 2711: CONNECTICUT STATE BANKING DEPARTMENT GROUP RETURN
- Assets (IRS master file)
- $697,084,624
- Income (IRS master file)
- $42,083,890
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $42,153,342 | $39,668,633 | $697,084,624 | IRS |
| 990 | December 2023 | $34,047,640 | $31,904,625 | $584,719,438 | XML |
| 990 | December 2022 | $33,470,573 | $27,715,613 | $554,794,800 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 06-0655039).
Questions about NUTMEG STATE FINANCIAL CREDIT UNION
- What is the EIN of NUTMEG STATE FINANCIAL CREDIT UNION?
- The employer identification number (EIN) of NUTMEG STATE FINANCIAL CREDIT UNION is 06-0655039.
- Is NUTMEG STATE FINANCIAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1976.
- Are donations to NUTMEG STATE FINANCIAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NUTMEG STATE FINANCIAL 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 NUTMEG STATE FINANCIAL 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 NUTMEG STATE FINANCIAL 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 NUTMEG STATE FINANCIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 names CRAIG KNELL.
- Who are the officers and directors of NUTMEG STATE FINANCIAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 26 people; 25 received compensation from the organization, the highest $1,040,824 (JOHN HOLT, CHIEF EXECUTIVE OFFICER).
- How much revenue does NUTMEG STATE FINANCIAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $42,153,342, expenses of $39,668,633 and total assets of $697,084,624 at year end.
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