Nonprofit · EIN 04-2296410
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION
Tax-exempt · NEWTON, MA 02464
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $4,151,712 | $4,191,467 | -$39,755 | $95,429,985 | $34,547,752 | $60,882,233 |
| September 30, 2024 | 990 | $6,824,226 | $7,615,698 | -$791,472 | $97,416,149 | $37,069,080 | $60,347,069 |
| September 30, 2023 | 990 | $4,771,301 | $5,507,611 | -$736,310 | $100,193,736 | $41,887,470 | $58,306,266 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $2,304,346
- Investment income
- $2,096,829
- Net rental income
- -$280,454
- Tax-exempt bond proceeds
- $6,499
- Other revenue
- -$249,463
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,776,547
- Other salaries and wages
- $601,030
- Salaries, compensation and benefits (total)
- $2,880,952
- Professional fundraising fees
- $0
- Legal fees
- $230,500
- Accounting fees
- $44,000
- Travel
- $156,400
- Depreciation
- $19,649
Balance sheet and other
- Total assets, start of year
- $97,416,149
- Total assets, end of year
- $95,429,985
- Total liabilities, end of year
- $34,547,752
- Net assets, end of year
- $60,882,233
- Land, buildings and equipment
- $25,386,607
- Publicly traded securities
- $57,685,118
- Gross unrelated business income
- $933,264
- Gross receipts
- $6,342,054
- Employees
- 7
- Volunteers
- 0
- Year formed
- 1961
- State of legal domicile
- MA
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 September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL C HANSON | PRESIDENT/CEO Officer | 40 | $1,061,629 | $60,183 |
| JOHN CIAMPA | TREASURER Officer | 40 | $252,306 | $58,712 |
| N ANTHONY ST PIERRE | VP OF TECHNOLOGY / SECURIT Officer | 40 | $183,005 | $42,133 |
| ERIKA MORIN | DIRECTOR OF TRAINING AND M Officer | 40 | $136,108 | $47,257 |
| MICHAEL E MURPHY | DIRECTOR Trustee or director | 5 | $8,750 | $0 |
| THERESA DORILAS | DIRECTOR Trustee or director | 5 | $8,500 | $0 |
| DIANE M HOY | DIRECTOR Trustee or director | 5 | $8,250 | $0 |
| GREGORI A MARTUCCI | DIRECTOR Trustee or director | 5 | $7,250 | $0 |
| MATTHEW G SCHONDEK | DIRECTOR Trustee or director | 5 | $6,500 | $0 |
| NEIL CREAN | DIRECTOR Trustee or director | 5 | $6,250 | $0 |
| GLENN S WELCH | DIRECTOR Trustee or director | 5 | $5,750 | $0 |
| LAURA YBARRA | DIRECTOR Trustee or director | 5 | $5,250 | $0 |
| RICHARD N MITCHELL MD | DIRECTOR Trustee or director | 5 | $4,500 | $0 |
| GEORGE HARDIMAN | DIRECTOR Trustee or director | 5 | $3,500 | $0 |
990 for the year ended September 30, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL C HANSON | PRESIDENT/CEO Officer | 40 | $942,693 | $58,091 |
| JOHN CIAMPA | TREASURER Officer | 40 | $241,806 | $58,127 |
| N ANTHONY ST PIERRE | VP OF TECHNOLOGY / SECURIT Officer | 40 | $168,505 | $41,008 |
| ERIKA MORIN | DIRECTOR OF TRAINING AND MEMBER SERVICES Officer | 40 | $94,158 | $44,648 |
| MICHAEL E MURPHY | DIRECTOR Trustee or director | 5 | $6,750 | $0 |
| THERESA DORILAS | DIRECTOR Trustee or director | 5 | $6,750 | $0 |
| NEIL CREAN | DIRECTOR Trustee or director | 5 | $6,500 | $0 |
| MATTHEW G SCHONDEK | DIRECTOR Trustee or director | 5 | $6,000 | $0 |
| DIANE M PERALTA | DIRECTOR Trustee or director | 5 | $5,750 | $0 |
| GREGORI A MARTUCCI | DIRECTOR Trustee or director | 5 | $5,500 | $0 |
| RICHARD N MITCHELL MD | DIRECTOR Trustee or director | 5 | $4,750 | $0 |
| GLENN S WELCH | DIRECTOR Trustee or director | 5 | $4,250 | $0 |
| GEORGE HARDIMAN | DIRECTOR Trustee or director | 5 | $4,000 | $0 |
| LAURA YBARRA | DIRECTOR Trustee or director | 5 | $0 | $0 |
990 for the year ended September 30, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL C HANSON | PRESIDENT/CEO Officer | 40 | $982,247 | $57,260 |
| JOHN CIAMPA | TREASURER Officer | 40 | $232,806 | $56,275 |
| N ANTHONY ST PIERRE | VP OF TECHNOLOGY / SECURIT Officer | 40 | $181,505 | $42,829 |
| MICHAEL E MURPHY | DIRECTOR Trustee or director | 5 | $7,750 | $0 |
| DIANE M PERALTA | DIRECTOR Trustee or director | 5 | $6,500 | $0 |
| NEIL CREAN | DIRECTOR Trustee or director | 5 | $6,500 | $0 |
| THERESA DORILAS | DIRECTOR Trustee or director | 5 | $6,500 | $0 |
| GREGORI A MARTUCCI | DIRECTOR Trustee or director | 5 | $6,250 | $0 |
| RICHARD N MITCHELL MD | DIRECTOR Trustee or director | 5 | $5,500 | $0 |
| GEORGE HARDIMAN | DIRECTOR Trustee or director | 5 | $4,250 | $0 |
| MATTHEW G SCHONDEK | DIRECTOR Trustee or director | 5 | $3,500 | $0 |
| GLENN S WELCH | DIRECTOR Trustee or director | 5 | $2,000 | $0 |
Address and contacts
- Address (IRS master file)
- 233 NEEDHAM ST STE 510, NEWTON, MA 02464-1536
- Principal officer (990 for 2024)
- MICHAEL C HANSON, 233 NEEDHAM STREET SUITE 510, NEWTON, MA 02464
- Signed the 990
- JOHN CIAMPA, TREASURER
- Phone
- (617) 758-0546
- Website
- WWW.MSIC.WEBSITE
- Return prepared by
- CBIZ ADVISORS LLC
Mission
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION'S MISSION IS TO PROMOTE AND STRENGTHEN THE CREDIT UNION MOVEMENT BY PROVIDING EXCESS SHARE AND DEPOSIT INSURANCE AND ASSOCIATED SERVICES FOR CREDIT UNIONS AND THEIR MEMBERS WHILE PRESERVING THE INTEGRITY OF THE FUND.
Program accomplishments
- THE MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION WAS CREATED BY STATE LAW TO INSURE THE DEPOSITS OF CREDIT UNIONS IN MASSACHUSETTS. PRIOR TO 1994, IT WAS THE PRIMARY INSURER OF STATE CHARTERED CREDIT UNIONS. AS OF 1994, AS A CONDITION FOR CREDIT UNIONS OBTAINING FEDERAL INSURANCE THROUGH THE NCUA, THE CORPORATION INFUSED CAPITAL INTO SEVERAL CREDIT UNIONS DEEMED CAPITAL DEFICIENT BY THE NCUA. THE AMOUNT OF THE INFUSION TOTALED $6,271,894, OF WHICH $1,392,934 REMAINS OUTSTANDING AS OF 9/30/25. IN 2012, THE MASSACHUSETTS STATE LAW WAS AMENDED TO ESTABLISH A VOLUNTARY RESERVE FUND. IN 2015, THE CORPORATION BEGAN ACCEPTING MEMBER DEPOSITS INTO THE LIQUIDITY RESERVE FUND.
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 September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 04-2296410
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1997
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $95,429,985
- Income (IRS master file)
- $6,342,054
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $4,151,712 | $4,191,467 | $95,429,985 | XML |
| 990 | September 2024 | $6,824,226 | $7,615,698 | $97,416,149 | XML |
| 990 | September 2023 | $4,771,301 | $5,507,611 | $100,193,736 | XML |
| 990 | September 2022 | $6,906,491 | $6,772,976 | $111,182,062 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 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 04-2296410).
Questions about MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION
- What is the EIN of MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION?
- The employer identification number (EIN) of MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION is 04-2296410.
- Is MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1997.
- Are donations to MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION 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 MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION?
- The 990 for the year ended September 30, 2025 names MICHAEL C HANSON.
- Who are the officers and directors of MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION?
- The 990 for the year ended September 30, 2025 lists 14 people; 14 received compensation from the organization, the highest $1,061,629 (MICHAEL C HANSON, PRESIDENT/CEO).
- How much revenue does MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $4,151,712, expenses of $4,191,467 and total assets of $95,429,985 at year end.
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