Heritage Financial Credit Union
Heritage Financial Credit Union shows consistent revenue and asset growth with positive net income over three years.
EIN: 141348251 · Middletown, NY · NTEE: W61 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $46.0M |
| Total Expenses | $35.8M |
| Program Spending | 89% |
| CEO/Top Officer Pay | $700 |
| Net Assets | $50.5M |
| Transparency Score | 85/100 |
Search Intent Cockpit
Heritage Financial Credit Union Form 990, Revenue, CEO Pay, and IRS Filing Signals
Heritage Financial Credit Union is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Heritage Financial Credit Union in one place.
Form 990 Filing Summary
3 filing years are available, with latest revenue of $39.4M and expenses of $35.8M.
Revenue and Expenses
Heritage Financial Credit Union reported $39.4M in revenue and $35.8M in expenses, a surplus of $3.6M.
Executive Compensation
Top officer compensation appears as $700 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
85/100 mission score, 1 red flag, and 4 strengths are shown from structured and AI review.
Is Heritage Financial Credit Union Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $31.9M (89%) |
Across stored filings, Heritage Financial Credit Union shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 1 red flag identified |
| Mission spend | 89% to programs | Excellent |
| Financial durability | Grade A | 3 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Category W context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
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All Category W
Local and Sector Spokes
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Middletown, NY nonprofitsCategory W in New York
Public Benefit in New York
Follow the Money
Jump into spending, compensation, rankings, and filing-year evidence.
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Category W spending
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Keep the Investigation Moving
Heritage Financial Credit Union directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Heritage Financial Credit Union
Heritage Financial Credit Union (EIN: 141348251) is a nonprofit organization based in Middletown, NY, classified under NTEE code W61. The organization reported total revenue of $46.0M and total assets of $731.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Heritage Financial Credit Union's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Heritage Financial Credit Union is a large nonprofit that has been operating for 3 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 19.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $39.4M |
| Total Expenses | $35.8M |
| Surplus / Deficit | +$3.6M |
| Total Assets | $712.0M |
| Total Liabilities | $661.5M |
| Net Assets | $50.5M |
| Operating Margin | 9.2% |
| Debt-to-Asset Ratio | 92.9% |
| Months of Reserves | 238.5 months |
Financial Health Grade: A
In 2023, Heritage Financial Credit Union reported a surplus of $3.6M with revenue exceeding expenses, holds 238.5 months of operating reserves (strong position), has a debt-to-asset ratio of 92.9% (high leverage).
Financial Trends
Over 3 years of filings (2021–2023), Heritage Financial Credit Union's revenue has grown at a compound annual growth rate (CAGR) of 19.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +26.3% | +37.0% | +14.2% |
| 2022 | +13.5% | +11.2% | +16.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Heritage Financial Credit Union with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 11%
- programs: 89%
- fundraising: 0%
According to IRS 990 filings, Heritage Financial Credit Union allocates its expenses as follows: admin: 11%, programs: 89%, fundraising: 0%. With 89% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 92.9%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is unusual for an organization of this size with assets exceeding $700 million. This suggests that executive compensation may be reported in a different section of the filing or structured in a way that it is not categorized as 'officer compensation' in the summary, requiring deeper scrutiny for a full understanding of executive pay practices.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Heritage Financial Credit Union's IRS 990 filings:
- Consistent 0% officer compensation reported, which is atypical for an organization of this size and warrants further investigation for transparency.
Strengths
The following positive indicators were identified for Heritage Financial Credit Union:
- Consistent revenue growth from $27.5M in 2021 to $39.4M in 2023.
- Strong asset growth from $534.8M in 2021 to $711.9M in 2023.
- Positive net income in all reported periods, indicating financial stability and effective expense management.
- Healthy equity growth (Assets - Liabilities) over the three-year period.
Frequently Asked Questions about Heritage Financial Credit Union
Is Heritage Financial Credit Union a legitimate charity?
Heritage Financial Credit Union (EIN: 141348251) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 3 years of IRS 990 filings on record. Total revenue: $46.0M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Heritage Financial Credit Union spend its money?
Heritage Financial Credit Union directs 89% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Heritage Financial Credit Union tax-deductible?
Heritage Financial Credit Union is registered as a tax-exempt nonprofit (EIN: 141348251). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Heritage Financial Credit Union CEO make?
Heritage Financial Credit Union's highest-compensated officer earns $700 annually. The organization reported $46.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Heritage Financial Credit Union compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Heritage Financial Credit Union is above average for NTEE category W61 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Heritage Financial Credit Union located?
Heritage Financial Credit Union is headquartered in Middletown, New York and files with the IRS under EIN 141348251. It is classified under NTEE code W61.
How many years of IRS 990 filings does Heritage Financial Credit Union have?
Heritage Financial Credit Union has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $46.0M in total revenue.
Is Heritage Financial Credit Union a good charity?
As a credit union (NTEE W61), Heritage Financial Credit Union is a member-owned financial cooperative, not a traditional charity. Its 'goodness' should be evaluated based on its service to members, financial stability, and community impact, rather than typical charitable metrics. Financially, it appears stable and growing.
How does Heritage Financial Credit Union manage its expenses?
The organization consistently maintains expenses significantly below revenue, with a net income of $3.6 million in 2023, $5.0 million in 2022, and $4.0 million in 2021. This indicates effective expense management relative to its income.
What is the trend in the organization's assets and liabilities?
Assets have steadily increased from $534.8 million in 2021 to $711.9 million in 2023, while liabilities have also grown from $490.2 million to $661.5 million. The equity (assets minus liabilities) has consistently increased, indicating financial health and growth.
Why is officer compensation reported as 0%?
The consistent reporting of 0% officer compensation across all three filings is highly unusual for an organization of this scale. This could mean compensation is reported under different categories, paid by a related entity, or structured in a non-traditional way. Further investigation into the full 990 form would be needed to understand executive compensation practices.
Filing History
IRS 990 filing history for Heritage Financial Credit Union showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Heritage Financial Credit Union's revenue has grown by 43.4%, moving from $27.5M to $39.4M. Total assets increased by 33.1% over the same period, from $534.9M to $712.0M. Total functional expenses rose by 52.3%, from $23.5M to $35.8M. In its most recent filing year (2023), Heritage Financial Credit Union reported a surplus of $3.6M, with revenue exceeding expenses. The organization holds $661.5M in liabilities against $712.0M in assets (debt-to-asset ratio: 92.9%), resulting in net assets of $50.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $39.4M | $35.8M | $712.0M | $661.5M | — | View 990 |
| 2022 | $31.2M | $26.2M | $623.3M | $576.1M | — | View 990 |
| 2021 | $27.5M | $23.5M | $534.9M | $490.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $39.4M, expenses of $35.8M, and assets of $712.0M (revenue +26.3% year-over-year).
- 2022: Revenue of $31.2M, expenses of $26.2M, and assets of $623.3M (revenue +13.5% year-over-year).
- 2021: Revenue of $27.5M, expenses of $23.5M, and assets of $534.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Heritage Financial Credit Union:
Data Sources and Methodology
This transparency report for Heritage Financial Credit Union is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.