Tremont Credit Union

Nonprofit profile at a glance

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

18 people listed

GEORGE HARDIMAN (CEO): $500,968 total reported compensation
BRYAN GREENBAUM (COO): $177,487 total reported compensation
BONNIE PIETRAGALLO (VP LENDING OPERATIONS): $159,211 total reported compensation

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

State chartered credit union

The credit union provides financial products such as various types of deposit accounts and loans to its members.

Revenue model: Other-operating. 88% of the money available for current operations came from other operating 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: 100%; rating input score 100; 62nd 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

Independent voting board: 81.8%; rating input score 82; 16th percentile among comparable filings
Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail

Operating margin: -4.5%; rating input score 17; 17th percentile among comparable filings
Total-asset coverage ratio: 17.46; rating input score 95; 95th percentile among comparable filings
Liabilities to assets ratio: 0.92; rating input score 9; 9th percentile among comparable filings
Officer compensation ratio: 8.8%; rating input score 26; 26th percentile among comparable filings

Program expense growth: Limited
Revenue growth: 4% per year; rating input score 100; 34th percentile among comparable filings
Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 9 of 11 board members independent · 5 of 9 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $501K · 18 people listed · 2 of 6 pay-setting controls reported
Highest-paid contractors: 2 contractors listed · $312K reported
Consistency: 12 of 12 current checks pass
Schedules: 4 filed schedules · includes executive pay
Filing history: 14 filing years from 2010 to 2024
Contacts: How to reach this organization
Money network: 10 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.

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