Overview
What is Depositors Insurance Fund?
The Depositors Insurance Fund, established in 1932, is a nonprofit organization located in Woburn, Massachusetts. Its primary mission is to safeguard deposits that surpass the Federal Deposit Insurance Corporation (FDIC) limits and offer temporary liquidity to its member banks. This is achieved by providing loans to these banks, which are secured by the banks' assets. With a team of 10 dedicated individuals, the Depositors Insurance Fund plays a crucial role in maintaining financial stability within the banking sector, thereby protecting depositors' investments beyond the FDIC limits.
Official website here: www.difxs.com
Is Depositors Insurance Fund legitimate?
Depositors Insurance Fund is a legitimate nonprofit organization registered as a 501(c)(14) entity. Depositors Insurance Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,971,299
Professional Fundraising Fees: $0
Other Salaries and Wages: $139,669
For more financial information, click here
Official website here: www.difxs.com
What is the mission statement of Depositors Insurance Fund?
The Depositors Insurance Fund's mission is centered around insuring deposits that exceed the FDIC limits and offering temporary liquidity to member banks. This is achieved by making loans to these banks, with the security being provided by the member banks' assets. Established in 1932, the primary purpose of the Liquidity Fund is to provide temporary financial assistance to member banks during periods of need. This service aims to bolster the stability and resilience of the banking sector, thereby protecting depositors' savings.
Official website here: www.difxs.com
Who is the CEO of Depositors Insurance Fund?
Andrew Calamare is the Director of Depositors Insurance Fund. The CEO's salary of Depositors Insurance Fund is $683,506 and their total compensation is $756,160.
Official website here: www.difxs.com
What is the revenue of Depositors Insurance Fund?
Depositors Insurance Fund's revenue in 2022 was $5,779,138.
Official website here: www.difxs.com
Who are the executives of Depositors Insurance Fund and what are their salaries?
The average compensation at Depositors Insurance Fund during 2022 was $211,097. There are 10 employees at Depositors Insurance Fund.
Here are 25 key members and their salaries (Depositors Insurance Fund's CEO's salary is $683,506 and their total compensation is $756,160):
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $14,400
- Related: $0
- Other: $0
- Compensation: $11,500
- Related: $0
- Other: $0
- Compensation: $9,000
- Related: $0
- Other: $0
- Compensation: $13,000
- Related: $0
- Other: $0
- Compensation: $10,500
- Related: $0
- Other: $0
- Compensation: $20,100
- Related: $0
- Other: $0
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $10,500
- Related: $0
- Other: $0
- Compensation: $9,500
- Related: $0
- Other: $0
- Compensation: $17,800
- Related: $0
- Other: $0
- Compensation: $7,500
- Related: $0
- Other: $0
- Compensation: $13,300
- Related: $0
- Other: $0
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $9,000
- Related: $0
- Other: $0
- Compensation: $11,900
- Related: $0
- Other: $0
- Compensation: $12,800
- Related: $0
- Other: $0
- Compensation: $683,506
- Related: $0
- Other: $72,654
- Compensation: $188,768
- Related: $0
- Other: $63,331
- Compensation: $241,787
- Related: $0
- Other: $95,024
- Compensation: $350,667
- Related: $0
- Other: $70,653
- Compensation: $177,344
- Related: $0
- Other: $97,691
- Compensation: $143,454
- Related: $0
- Other: $49,593
- Compensation: $104,455
- Related: $0
- Other: $41,047
Official website here: www.difxs.com
Where can I find the form 990 for Depositors Insurance Fund?
Depositors Insurance Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.difxs.com
Learn more at the official website: www.difxs.com
Mission Statement of Depositors Insurance Fund
The Depositors Insurance Fund, established in 1932, is dedicated to insuring deposits beyond the Federal Deposit Insurance Corporation (FDIC) limits and offering temporary liquidity to its member banks. This is achieved by making loans to these banks, securing the loans with the member banks' assets. By undertaking this mission, the Depositors Insurance Fund provides a crucial safety net for depositors, ensuring that their excess funds are protected, and offers short-term financial support to banks during periods of financial instability.
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Impact
October, 2024
The Depositors Insurance Fund (DIF) plays a critical role in enhancing the stability of the banking system by insuring deposits that exceed the limits set by the Federal Deposit Insurance Corporation (FDIC). This additional layer of protection reassures depositors, fostering greater confidence in their financial institutions. By safeguarding these excess deposits, the DIF helps to maintain public trust in the banking sector, especially during times of economic uncertainty.
Moreover, the DIF provides vital temporary liquidity to member banks through secured loans backed by the banks' assets. Established in 1932, this liquidity mechanism ensures that banks can continue to operate smoothly without facing liquidity crises, thus preventing panic among consumers and maintaining the overall health of the financial ecosystem. By supporting member banks in this way, the DIF not only contributes to individual bank stability but also strengthens the broader financial system, benefiting the economy as a whole.
This information is meant to be a general summary of Depositors Insurance Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,770,418
- Gross Receipts: $40,029,782
Assets and Liabilities:
- Total Assets: $500,673,236
- Total Liabilities: $434,294
- Net Assets: $500,238,942
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Organization Details
Founding Year
1932
Phone
(781) 938-1984Principal Officer
Andrew Calamare
Main Address
ONE LINSCOTT ROAD, WOBURN, MA, 01801
Website
www.difxs.comNTEE Category
Code: W60 - Public benefit
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