Form 990 for tax year 2023
Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.
Totals
- Total revenue
- $31,327,804
- Total expenses
- $28,712,884
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $22,547,789
- Investment income
- $8,780,015
- Other revenue
- $0
- Total assets, end of year
- $670,264,151
- Total liabilities, end of year
- $643,454,702
- Net assets or fund balances, end of year
- $26,809,449
- Program services expenses (Part IX)
- $28,712,884
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: INTEREST ON LOANS
total $15,634,539 · related or exempt $15,634,539
-
2b · Program service revenue: OTHER OPERATING INCOME
total $3,882,310 · related or exempt $3,882,310
-
2c · Program service revenue: FEE INCOME
total $3,008,101 · related or exempt $3,008,101
-
2d · Program service revenue: NON-MEMBER ATM FEES
total $15,439 · unrelated business $15,439
-
2e · Program service revenue: UNRELATED BUSINESS INCOME
total $7,400 · unrelated business $7,400
-
3 · Investment income
total $8,005,447 · related or exempt $8,005,447
-
7a · Gross sales of assets other than inventory
securities $11,436 · other assets $786,351
-
7b · Less cost or other basis and sales expenses
other assets $23,219
-
7c · Gain or loss
securities $11,436 · other assets $763,132
-
7d · Net gain or loss
total $774,568 · related or exempt $774,568
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $818,622 · program services $818,622
-
7 · Other salaries and wages
total $8,211,091 · program services $8,211,091
-
9 · Other employee benefits
total $2,472,437 · program services $2,472,437
-
16 · Occupancy
total $2,092,896 · program services $2,092,896
-
19 · Conferences, conventions and meetings
total $58,068 · program services $58,068
-
20 · Interest
total $4,630,003 · program services $4,630,003
-
24a · Other expenses: PROFESSIONAL FEES
total $4,560,095 · program services $4,560,095
-
24b · Other expenses: PROVISION FOR LOAN LOSSES
total $1,757,985 · program services $1,757,985
-
24c · Other expenses: OFFICE OPERATIONS
total $1,658,880 · program services $1,658,880
-
24d · Other expenses: LOAN SERVICING EXP
total $1,343,676 · program services $1,343,676
-
24e · All other expenses
total $1,109,131 · program services $1,109,131
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,132,515 · end of year $2,953,454
-
2 · Savings and temporary cash investments
beginning of year $78,550,087 · end of year $72,821,072
-
7 · Other notes and loans receivable
beginning of year $331,822,828 · end of year $337,760,851
-
10a · Land, buildings and equipment: cost or other basis
$17,898,182
-
10b · Land, buildings and equipment: accumulated depreciation
$8,120,557
-
10c · Land, buildings and equipment, net
beginning of year $10,503,308 · end of year $9,777,625
-
11 · Investments: publicly traded securities
beginning of year $244,951,158 · end of year $229,201,423
-
15 · Other assets
beginning of year $18,652,531 · end of year $17,749,726
-
17 · Accounts payable and accrued expenses
beginning of year $29,794,460 · end of year $31,703,931
-
25 · Other liabilities
beginning of year $631,369,626 · end of year $611,750,771
-
31 · Retained earnings, endowment or other funds
beginning of year $26,448,341 · end of year $26,809,449
Mission and programs · 2023
Mission
INSIGHT FINANCIAL CREDIT UNION IS A COOPERATIVE, NOT-FOR-PROFIT FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBER; AT ADVANTAGEOUS RATES OVER THOSE GENERALLY AVAILABLE FROM OTHER BANKING SOURCES.
-
INTEREST IS CHARGED AT MARKET RATES TO MEMBERS TO PROVIDE REVENUE TO PAY FOR THE COST OF THE FUNDS.
-
FEES AND CHARGES ARE ASSESSED TO MEMBERS FOR FINANCIAL SERVICES. THESE FEES GENERATE THE REVENUE NECESSARY TO PAY THE COSTS TO PROVIDE THESE SERVICES.
-
EARNINGS FROM THE INVESTMENTS. THE EXCESS OF FUNDS RECEIVED FROM MEMBERS, OVER THE AMOUNT LOANED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUSES IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE CREDIT UNION'S GOVERNING DOCUMENTS.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
George DavisGEORGE DAVIS
CEO
- Total calculated
- $465,172
- From this org
- $441,701
- From related orgs
- $0
- Other
- $23,471
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $441,701
- Bonus
- not reported
- Other
- not reported
- Deferred
- $23,471
- Nontaxable benefits
- not reported
- Filer's total
- $465,172
-
Carlene L MullinCARLENE L MULLIN
CFO
- Total calculated
- $212,847
- From this org
- $181,370
- From related orgs
- $0
- Other
- $31,477
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $181,370
- Bonus
- not reported
- Other
- not reported
- Deferred
- $31,477
- Nontaxable benefits
- not reported
- Filer's total
- $212,847
-
Jesse DeanJESSE DEAN
CRO
- Total calculated
- $189,334
- From this org
- $167,605
- From related orgs
- $0
- Other
- $21,729
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $167,605
- Bonus
- not reported
- Other
- not reported
- Deferred
- $21,729
- Nontaxable benefits
- not reported
- Filer's total
- $189,334
-
Jodi PetralaJODI PETRALA
CLO
- Total calculated
- $181,974
- From this org
- $162,050
- From related orgs
- $0
- Other
- $19,924
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $162,050
- Bonus
- not reported
- Other
- not reported
- Deferred
- $19,924
- Nontaxable benefits
- not reported
- Filer's total
- $181,974
-
Cynthia JonesCYNTHIA JONES
CIO
- Total calculated
- $179,220
- From this org
- $158,611
- From related orgs
- $0
- Other
- $20,609
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $158,611
- Bonus
- not reported
- Other
- not reported
- Deferred
- $20,609
- Nontaxable benefits
- not reported
- Filer's total
- $179,220
-
Deborah FoleyDEBORAH FOLEY
CHIEF RETAIL
- Total calculated
- $172,393
- From this org
- $153,538
- From related orgs
- $0
- Other
- $18,855
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $153,538
- Bonus
- not reported
- Other
- not reported
- Deferred
- $18,855
- Nontaxable benefits
- not reported
- Filer's total
- $172,393
-
Danielle MahoneyDANIELLE MAHONEY
VP- HUMAN RE
- Total calculated
- $148,444
- From this org
- $125,154
- From related orgs
- $0
- Other
- $23,290
- Hours/week
- 45
-
Deborah CollinsDEBORAH COLLINS
DIRECTOR
- Total calculated
- $140,603
- From this org
- $124,126
- From related orgs
- $0
- Other
- $16,477
- Hours/week
- 5
-
Charles ArnettCHARLES ARNETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
A Floyd BradleyA FLOYD BRADLEY
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Stephen HoeltkeSTEPHEN HOELTKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Karen JohnsonKAREN JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Linda ShortLINDA SHORT
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Daniel TatroDANIEL TATRO
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 5
-
Mark ZickefooseMARK ZICKEFOOSE
1ST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
INSIGHT INSURANCE SERVICES CORP
C CORP · INSURANCE · 100% owned · share of income $9,270 · share of assets $18,248 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202441369349308534
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