Boston Firefighters Credit Union

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

23 people listed

richard Hayward Jr (President & CEO): $516,734 total reported compensation
craig mackenzie (EVP/COO (Resigned 12/2024)): $353,696 total reported compensation
cristina Prentis (SVP/CFO): $246,189 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Provide financial services to our members

Revenue model: Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model: Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 91.7%; rating input score 92; 6th percentile among comparable filings
Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
Foreign activity oversight: Limited
Grant itemization coverage: 67.4%; rating input score 67; 14th percentile among comparable filings
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 90.9%; rating input score 91; 23rd percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail

Operating margin: 16.2%; rating input score 78; 78th percentile among comparable filings
Total-asset coverage ratio: 23.01; rating input score 97; 97th percentile among comparable filings
Liabilities to assets ratio: 0.88; rating input score 11; 11th percentile among comparable filings
Officer compensation ratio: 14.4%; rating input score 9; 9th percentile among comparable filings

Program expense growth: -66.7% per year; rating input score 0; 0th percentile among comparable filings
Revenue growth: 8% per year; rating input score 100; 65th percentile among comparable filings
Asset growth: 7.5% per year; rating input score 100; 52nd percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 10 of 11 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment · $18.3M in reported program spending
Leadership: top reported pay $517K · 23 people listed · 5 of 6 pay-setting controls reported
Highest-paid contractors: 5 contractors listed · $1.8M reported
Consistency: 11 of 12 current checks pass · 1 finding to review
Schedules: 5 filed schedules · includes grants and executive pay
Filing history: 15 filing years from 2010 to 2024
Contacts: How to reach this organization
Money network: 21 filed money-flow records
Related organizations: 6 filed related-organization links
Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
People: Everyone the filings name, and which of them the filings identify by more than a name.

Signals prioritize questions for review. They are not findings of misconduct.

High — Growth: Program expense growth scored 0/100.
Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
Review — Accountability: Governance controls: Independent financial-statement audit not reported.
High — Sustainability: Officer compensation ratio scored 9/100.
High — Sustainability: Liabilities to assets ratio scored 11/100.