Homefield Credit Union

Nonprofit profile at a glance

EIN
042393313
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
North Grafton, MA, USA
Phone
5088395493
Rating confidence
Limited

Official website

Reported finances

Revenue
$8,565,371
Expenses
$8,169,321
Assets
$170,910,408
Liabilities
$156,824,012

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • KARL MOISAN (PRESIDENT & CEO)

Highest reported compensation

  • KARL MOISAN (PRESIDENT & CEO): $234,274 total reported compensation
  • JULIE DELONG TRIPP (EVP, CFO & COO): $215,915 total reported compensation
  • SARAH MILLER (SVP, CLO): $172,331 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a lifetime of personal service through innovative products and quality services, delivered by a team of dedicated professionals to meet the full range of member needs.

What it reported doing in 2025

To provide deposit products for daily financial needs as well as investment alternatives. Products include checking and saving accounts, certificates of deposit, ira and money market accounts. Members have a total of 10,153 deposit accounts with the credit union as of 12/31/25.

Operating model

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 verdict

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

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.6%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 20.92; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.6% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $234K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $167K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.