Nonprofit · EIN 54-0314180
BAYPORT FEDERAL CREDIT UNION
Tax-exempt · NEWPORT NEWS, VA 23606
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $185,859,609 | $169,659,562 | $16,200,047 | $2,383,985,109 | $2,140,804,827 | $243,180,282 |
| December 31, 2023 | 990 | $152,756,668 | $127,432,775 | $25,323,893 | $2,365,294,400 | $2,137,524,830 | $227,769,570 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $166,878,903
- Investment income
- $19,258,094
- Net rental income
- -$520,966
- Other revenue
- -$277,388
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,852,266
- Other salaries and wages
- $34,807,053
- Salaries, compensation and benefits (total)
- $49,492,655
- Professional fundraising fees
- $0
- Occupancy
- $6,938,934
- Travel
- $1,072,464
Balance sheet and other
- Total assets, start of year
- $2,365,294,400
- Total assets, end of year
- $2,383,985,109
- Total liabilities, end of year
- $2,140,804,827
- Net assets, end of year
- $243,180,282
- Land, buildings and equipment
- $59,444,389
- Gross unrelated business income
- -$520,966
- Gross receipts
- $187,389,326
- Employees
- 640
- Volunteers
- 16
- Year formed
- 1928
- State of legal domicile
- VA
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 |
|---|---|---|---|
| JAMES MEARS | PRESIDENT/CEO | 40 | $590,567 |
| GODFREY SMITH | EXEC VP/CFO | 40 | $351,771 |
| JENNIFER COYNE | EXEC VP/COO | 40 | $341,326 |
| STANLEY LEICESTER | EXECUTIVE VP | 40 | $298,968 |
| MARGARET TAYLOR | INVESTMENT ADVISOR | 40 | $269,634 |
| DENISE MCROBERTS | CHIEF INFO OFFICER | 40 | $250,730 |
| SUSAN FERNAAYS | CHIEF EXP OFFICER | 40 | $247,619 |
| IRA WILLIAMS | CHIEF RETAIL OFF | 40 | $244,981 |
| NANCY PORTER | VP MARKETING | 40 | $220,308 |
| TONYA EDWARDS | VP BUSINESS BANKIN | 40 | $216,735 |
| PAMELA J ROWE | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 |
| CRAIG HOLLEY JR | Director Trustee or director | 0 | $0 |
| SUZANNE M BECKSTOFFER | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 |
| MAUREEN DAVIS | Chairman Trustee or director, Officer | 0 | $0 |
| MARY CULLEN | Director Trustee or director | 0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LEMESHIA STEELE | Director Trustee or director | 0 | $0 |
| JENNIFER M MILLER | Secretary/Treas Trustee or director, Officer | 0 | $0 |
| RAY C BAGLEY | Asst Secretary Trustee or director, Officer | 0 | $0 |
| DARLENE GRAHAM | Director Trustee or director | 0 | $0 |
| DINETTA D HILL | Director Trustee or director | 0 | $0 |
| THOMASINA R WRIGHT | Director Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES MEARS | PRESIDENT/CEO | 40 | $552,573 | $22,408 |
| STANLEY LEICESTER | EXECUTIVE VP | 40 | $394,784 | $0 |
| GODFREY SMITH | EXEC VP/CFO | 40 | $302,765 | $0 |
| JENNIFER COYNE | EXEC VP/COO | 40 | $290,656 | $0 |
| SUSAN FERNAAYS | CHIEF EXPERIENCE OFFICER | 40 | $243,462 | $0 |
| DENISE MCROBERTS | CHIEF INFO OFFICER | 40 | $243,171 | $0 |
| IRA WILLIAMS | CHIEF RETAIL OFF | 40 | $236,388 | $0 |
| WENDY BROWN | CHIEF HR OFFICER | 40 | $229,598 | $0 |
| NANCY PORTER | VP MARKETING | 40 | $212,325 | $0 |
| TONYA EDWARDS | VP BUSINESS BANKIN | 40 | $209,189 | $0 |
| PAMELA J ROWE | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 | $0 |
| CRAIG HOLLEY JR | Director Trustee or director | 0 | $0 | $0 |
| SUZANNE M BECKSTOFFER | VICE CHAIRMAN Trustee or director, Officer | 0 | $0 | $0 |
| MAUREEN DAVIS | Chairman Trustee or director, Officer | 0 | $0 | $0 |
| MARY CULLEN | Director Trustee or director | 0 | $0 | $0 |
| LEMESHIA STEELE | Director Trustee or director | 0 | $0 | $0 |
| JENNIFER M MILLER | Secretary/Treas Trustee or director, Officer | 0 | $0 | $0 |
| RAY C BAGLEY | Asst Secretary Trustee or director, Officer | 0 | $0 | $0 |
| GEORGE C WIATT JR | Director Trustee or director | 0 | $0 | $0 |
| DINETTA D HILL | Director Trustee or director | 0 | $0 | $0 |
| THOMASINA R WRIGHT | Director Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 BAYPORT WAY STE 350, NEWPORT NEWS, VA 23606-4571
- In care of
- % WENDY BROWN
- Signed the 990
- G LEWIS SMITH, VP/FINANCE
- Phone
- (757) 928-8850
- Website
- www.bayportcu.org
- Return prepared by
- BOYCE SPADY & MOORE PLC
Mission
TO PROVIDE AFFORDABLE FINANCIAL SERVICES TO ITS MEMBERS INCLUDING LOAN RELATIONSHIPS DEPOSITORY SERVICES CREDIT CARDS AND INTERNET BANKING AT CONVENIENT LOCATIONS BY PROFESSIONALS WHO PROVIDE EXCELLENT SERVICE
Program accomplishments
- TO PROVIDE AFFORDABLE LOANS TO OVER 16,000 MEMBERS DURING THE YEAR. MANY OF THE INDIVIDUALS WOULD NOT HAVE BEEN ABLE TO OBTAIN SUCH LOANS FROM OTHER FINANCIAL INSTITUTIONS. IN ADDITION, THE CREDIT UNION PROVIDED DEPOSITORY SERVICES TO MEMBERS PROVIDING BRANCHES, ON-LINE BANKING, FINANCIAL COUNSELING SERVICES, HOME BUYING AND RETIREMENT SEMINARS, FINANCIAL EDUCATION, SCHOLARSHIPS AND NUMEROUS OTHER RELATED SERVICES. THE CREDIT UNION'S MEMBERSHIP CONSISTS PRIMARILY OF INDIVUDALS IN THE HAMPTON ROADS AREA AND INCLUDES MANY INDIVIDUALS GENERALLY NOT RECRUITED FOR SERVICES AT LARGER FINANCIAL INSTITUTIONS.
What it must file and when
IRS records say it files Not required (government). 501(c)(1) organizations do not file. 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
- 54-0314180
- Tax-exempt status
- 501(c)(1): Corporation organized under an act of Congress
- Exempt since
- 2026
- Accounting year ends
- December
- Files
- Not required (government)
- Assets (IRS master file)
- $2,383,985,109
- Income (IRS master file)
- $187,389,326
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $185,859,609 | $169,659,562 | $2,383,985,109 | XML |
| 990 | December 2023 | $152,756,668 | $127,432,775 | $2,365,294,400 | XML |
| 990 | December 2022 | – | – | – | 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 54-0314180).
Questions about BAYPORT FEDERAL CREDIT UNION
- What is the EIN of BAYPORT FEDERAL CREDIT UNION?
- The employer identification number (EIN) of BAYPORT FEDERAL CREDIT UNION is 54-0314180.
- Is BAYPORT FEDERAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(1) since 2026.
- Which annual return does BAYPORT FEDERAL CREDIT UNION file?
- Form Not required (government). 501(c)(1) organizations do not file.
- When is the next return of BAYPORT FEDERAL 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 BAYPORT FEDERAL 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 are the officers and directors of BAYPORT FEDERAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 21 people; 10 received compensation from the organization, the highest $590,567 (JAMES MEARS, PRESIDENT/CEO).
- How much revenue does BAYPORT FEDERAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $185,859,609, expenses of $169,659,562 and total assets of $2,383,985,109 at year end.
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