Metropolitan Credit Union in Chelsea, Massachusetts (MA)

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Metropolitan Credit Union
Employer Identification Number (EIN)041695745
Name of OrganizationMetropolitan Credit Union
In Care of NameEileen Danahey
Address200 Revere Beach Pkwy, Chelsea, MA 02150-1608
ActivitiesEndowment fund or financial services, Loans or credit reporting
SubsectionCredit Union
Ruling Date08/1948
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,279,777,202
Amount of Income$283,499,653
Form 990 Revenue Amount$58,316,336


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Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$57,522,772
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$46,234,518
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,711,345
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$8,002,503
Gross amount from sales of assets other than inventory (Securities / Other)$2,168,181 / $223,635,086
Less: cost or other basis and sales expenses (Securities / Other)$2,151,535 / $215,649,229
Gain or (loss) (Securities / Other)$16,646 / $7,985,857
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$1,574,406
Statement of Functional Expenses (for 2012)
Total functional expenses$47,121,551
Compensation of current officers, directors, trustees, and key employees$2,740,060
Other salaries and wages$10,870,165
Payroll taxes$1,114,957
Professional fundraising services$0
Other$32,396,369
Balance Sheet (for 2012)
Total assets$1,126,560,711
Total liabilities$1,008,329,870
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$82,210,369
Unsecured notes and loans payable to unrelated third parties$0
Other$926,119,501
Total net assets or fund balances$118,230,841
Retained earnings, endowment, accumulated income, or other funds$118,230,841
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:Not provided
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