Overview
What is Lynn Municipal Employees Credit Union?
Lynn Municipal Employees Credit Union is a nonprofit organization, initially focused on providing credit and thrift services. Although its current status is not active or operational, its mission involved serving a specific group – municipal employees in Lynn. This credit union likely offered financial services, such as savings accounts, loans, and other banking services, to its members. The organization may have played a significant role in the local community by offering financial support and resources to its members, contributing to their financial well-being.
Is Lynn Municipal Employees Credit Union legitimate?
Lynn Municipal Employees Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Lynn Municipal Employees Credit Union 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: $58,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Lynn Municipal Employees Credit Union?
Unfortunately, Lynn Municipal Employees Credit Union's mission statement is not available as the nonprofit is terminated or no longer active. Previously, it provided thrift services, which typically involve savings and loans, to its members, who were municipal employees in Lynn. However, details about its specific mission or objectives during its active period are unavailable.
Who is the CEO of Lynn Municipal Employees Credit Union?
Stephen Spencer is the Director And of Lynn Municipal Employees Credit Union.
What is the revenue of Lynn Municipal Employees Credit Union?
Lynn Municipal Employees Credit Union's revenue in 2022 was $57,386.
Who are the executives of Lynn Municipal Employees Credit Union and what are their salaries?
The average compensation at Lynn Municipal Employees Credit Union during 2022 was $14,500. There are 4 employees and 6 volunteers at Lynn Municipal Employees Credit Union.
Here are 10 key members and their salaries:
- Compensation: $18,000
- Related: $0
- Other: $0
- Compensation: $15,000
- Related: $0
- Other: $0
- Compensation: $14,000
- Related: $0
- Other: $0
- Compensation: $11,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lynn Municipal Employees Credit Union?
Lynn Municipal Employees Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lynn Municipal Employees Credit Union
Lynn Municipal Employees Credit Union, previously a nonprofit organization, was focused on providing thrift services. Its primary mission was centered around credit union activities, aiming to serve a specific group of individuals – the municipal employees of Lynn. However, the organization is now terminated or no longer active, ceasing its operations and services. Despite its non-operational status, the legacy of Lynn Municipal Employees Credit Union once served to offer financial services and opportunities to its intended members.
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Impact
October, 2024
Lynn Municipal Employees Credit Union played a significant role in providing financial services and thrift opportunities to its members in Lynn, Massachusetts. By focusing on credit union services, it helped individuals manage their finances, save for the future, and access loans, contributing to the financial well-being of the community. Its mission centered on delivering public benefit, emphasizing the importance of accessible financial resources for municipal employees and their families. Despite its termination, the impact it had during its operation included fostering a sense of community and cooperative economics among its members, promoting savings, and supporting local economic stability.
This information is meant to be a general summary of Lynn Municipal Employees Credit Union. 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: -$3,065
- Program Service Revenue: $59,907
- Gross Receipts: $57,386
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$59,907
Organization Details
Founding Year
1941
Phone
(781) 598-4000Principal Officer
Stephen Spencer
Main Address
3 CITY HALL SQUARE, LYNN, MA, 01901
NTEE Category
Code: W60 - Public benefit
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