Luso-american Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Luso-american Credit Union is a 501(c)(14) organization based in Peabody, Massachusetts, registered in 1972, with $6,037,220 in FY2024 revenue. CharityIndex grades it B.
37 Tremont St, Peabody, MA, 01960 EIN 04-6066641 Since 1972
Revenue (FY2024)
$6.0M
▲ 7.7% vs prior year
Expenses (FY2024)
$4.9M
Net assets
$18.7M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 2 of 4 criteria — the rest aren't reported in this filing type.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Luso-american Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating46 mo reserves · +19% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Luso-american Credit Union: 46 mo reserves · +19% margin earns a A on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Luso-american Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Luso-american Credit Union: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
- Address
- 37 Tremont St, Peabody, MA, 01960
- City
- Peabody
- State
- Massachusetts
- Category
- —
- Subcategory
- —
- Website
- …
Financial trends
Revenue grew from $2.5M (FY2013) to $6.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $105.4MNet assets $18.7M
Operating margin
19.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$124.1M
Total liabilities
$105.4M
Net assets
$18.7M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $6,037,220▲7.7% | $4,866,802▲21.7% | $18,672,736▲6.7% | $124,098,435▲1.8% | 990 |
| 2023 | $5,606,467▲33.2% | $3,997,987▲10.7% | $17,502,318▲10.1% | $121,868,639▼4.0% | 990 |
| 2022 | $4,209,549▲4.1% | $3,613,154▲3.5% | $15,893,838▲3.9% | $127,004,099▼0.7% | 990 |
| 2021 | $4,042,575▲8.0% | $3,490,386▲9.2% | $15,297,443▲3.7% | $127,835,727▲16.5% | 990 |
| 2020 | $3,741,914▼5.6% | $3,197,443▼0.6% | $14,745,254▲3.8% | $109,683,845▲16.0% | 990 |
| 2019 | $3,965,188▲6.7% | $3,217,335▲4.7% | $14,200,783▲5.6% | $94,533,360 | 990 |
| 2018 | $3,717,247▲13.8% | $3,073,589▲8.8% | $13,452,910▲5.7% | $94,536,034▲3.6% | 990 |
| 2017 | $3,265,735▲8.6% | $2,824,910▲2.5% | $12,732,283▲3.6% | $91,247,718▲2.1% | 990 |
| 2016 | $3,007,362▲4.3% | $2,755,080▲0.9% | $12,291,458▲2.1% | $89,365,248▲7.8% | 990 |
| 2015 | $2,883,928▲4.8% | $2,731,041▲17.3% | $12,039,176▼1.5% | $82,901,389▲5.7% | 990 |
| 2014 | $2,753,052▲8.5% | $2,327,974▼0.1% | $12,218,513▲11.5% | $78,442,230▲2.8% | 990 |
| 2013 | $2,537,575 | $2,330,823▼2.6% | $10,958,389▼7.7% | $76,271,002▲2.2% | 990 |
| 2012 | — | $2,392,607▼5.8% | $11,866,663▲2.4% | $74,621,115▲4.7% | 990 |
| 2011 | — | $2,540,485▼6.2% | $11,585,347▲7.5% | $71,262,777▲4.4% | 990 |
| 2010 | — | $2,709,046 | $10,779,699 | $68,281,715 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Frequently asked questions
- Is Luso-american Credit Union a legitimate nonprofit?
- Yes. Luso-american Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 04-6066641, based in Peabody, Massachusetts.
- What is Luso-american Credit Union's EIN?
- Luso-american Credit Union's Employer Identification Number (EIN) is 04-6066641.
- How much revenue does Luso-american Credit Union report?
- Luso-american Credit Union reported $6,037,220 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Luso-american Credit Union have?
- CharityIndex grades Luso-american Credit Union B, based on financial health (reserves and operating margin).
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Data for Luso-american Credit Union (EIN 04-6066641) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.