Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST INCOME ON LOANS

  total $120,805,625 · related or exempt $120,805,625

• 2b · Program service revenue: FEES, CHARGES, & OTHER

  total $57,156,500 · related or exempt $57,156,500

• 3 · Investment income

  total $31,463,190 · excluded $31,463,190

• 11a · Other revenue: FINANCE & INSURANCE

  total $5,079,297 · unrelated business $5,079,297

• 11e · Other revenue, total

  $5,079,297

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $328,653

• 5 · Compensation of officers, directors and key employees

  total $16,667,104

• 7 · Other salaries and wages

  total $29,898,836

• 8 · Pension plan contributions

  total $2,222,830

• 9 · Other employee benefits

  total $10,982,106

• 10 · Payroll taxes

  total $3,365,669

• 11a · Fees: management

  total $773,256

• 11b · Fees: legal

  total $230,130

• 11c · Fees: accounting

  total $231,602

• 11f · Fees: investment management

  total $899,195

• 11g · Fees: other

  total $1,469,809

• 12 · Advertising and promotion

  total $6,462,634

• 13 · Office expenses

  total $3,145,393

• 14 · Information technology

  total $11,121,407

• 16 · Occupancy

  total $3,853,130

• 17 · Travel

  total $930,865

• 19 · Conferences, conventions and meetings

  total $58,243

• 20 · Interest

  total $49,034,345

• 21 · Payments to affiliates

  total $183,322

• 22 · Depreciation, depletion and amortization

  total $3,617,992

• 23 · Insurance

  total $621,905

• 24a · Other expenses: VISA CREDIT EXPENSES

  total $7,389,164

• 24b · Other expenses: DEBIT EXPENSES

  total $4,997,911

• 24c · Other expenses: LOAN SERVICING EXPENSE

  total $3,710,226

• 24d · Other expenses: MAINTENANCE

  total $2,659,453

• 24e · All other expenses

  total $4,332,681

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,172,134 · end of year $11,086,451

• 2 · Savings and temporary cash investments

  beginning of year $329,757,852 · end of year $16,754,392

• 4 · Accounts receivable

  beginning of year $3,963,836 · end of year $9,537,530

• 7 · Other notes and loans receivable

  beginning of year $2,608,161,383 · end of year $2,909,575,981

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,895,863 · end of year $3,818,678

• 10a · Land, buildings and equipment: cost or other basis

  $154,570,226

• 10b · Land, buildings and equipment: accumulated depreciation

  $56,943,443

• 10c · Land, buildings and equipment, net

  beginning of year $101,331,702 · end of year $97,626,783

• 11 · Investments: publicly traded securities

  beginning of year $1,180,440,686 · end of year $1,133,240,461

• 12 · Investments: other securities

  beginning of year $2,315,100 · end of year $3,122,600

• 15 · Other assets

  beginning of year $226,774,515 · end of year $239,435,759

• 17 · Accounts payable and accrued expenses

  beginning of year $49,639,669 · end of year $48,081,530

• 19 · Deferred revenue

  beginning of year $15,699,605 · end of year $15,773,679

• 23 · Secured mortgages and notes payable

  end of year $55,000,000

• 25 · Other liabilities

  beginning of year $4,170,122,142 · end of year $4,007,367,731

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $225,351,655 · end of year $297,975,695

The filer's explanations (Part III)

PART I, LINE 1A

PROVIDES HOME SECURITY SYSTEMS FOR THE CEO AND CFO. PAYS FOR THE SECURITY MONITORING FOR THE CEO.

PART I, LINE 4B

THE BELOW-LISTED EXECUTIVES PARTICIPATE IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). THE PLAN GUARANTEES SPECIFIC PAYMENTS WILL BE MADE TO THE EXECUTIVES ONCE ELIGIBILITY REQUIREMENTS ARE MET. THE BALANCE REPORTED BELOW REPRESENTS THE SERP BENEFIT LIABILITY AS OF DECEMBER 31, 2023. LARRY TOBIN - CEO/PRESIDENT $6,718,326 KATHY CHONODY - SR EVP-CFO $990,913 PHILLIP TISCHER - SR EVP-COO $2,705,382 MATHY HOGAN - EXEC VP-PAYMENTS & DIGITAL BANKING $168,974 DIANNE OWEN - EXEC VP-SALES & MARKETING $378,353 CHARLES LAI - EXEC VP-CIO $518,254 JAMES ADAMCZYK- SR EVP-CSO $1,403,814 CATHY HERTZ - EXEC VP-HUMAN RESOURCES $33,982 JORGE M. FONT - SVP-BUSINESS SERVICES $261,798 KIMBERLY WRIGHTMAN - SVP-FINANCE/CONTROLLER $142,909 BRYAN MEIZINGER - SVP-LENDING $306,062 THOMAS BALDWIN III - SVP-RETAIL BANKING & WEALTH MANAGEMENT $64,000 THE FOLLOWING EMPLOYEES RECEIVED A PAYOUT DURING 2023: KATHY CHONODY: $4,596,408 (SERP) CATHERINE HERTZ: $225,000 (SERP) PHILLIP TISCHER: $107,992 (SERP) LARRY TOBIN: $2,000,000 (SERP) KIMBERLY WIGHTMAN: $150,000 (SERP)

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• FAIRWINDS FINANCIAL SERVICES LLC

  INACTIVE - NO BUSINESS HAS BEEN PROCESSED · FL · income $139 · assets $57,500

  Directly controlled by FAIRWINDS CREDIT UNION

• FAIRWINDS INSURANCE SERVICES LLC

  PROVIDING INSURANCE SERVICES · FL · income $33,962 · assets $510,098

  Directly controlled by FAIRWINDS CREDIT UNION