Form 990 for tax year 2024
Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.
Totals
- Total revenue
- $7,082,165
- Total expenses
- $6,239,903
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,897,549
- Investment income
- $1,585,978
- Other revenue
- $1,598,638
- Total assets, end of year
- $132,175,767
- Total liabilities, end of year
- $120,688,485
- Net assets or fund balances, end of year
- $11,487,282
- Program services expenses (Part IX)
- $6,239,903
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $6,239,903
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 INCOME
total $3,897,549 · related or exempt $3,897,549 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,585,978 · related or exempt $1,585,978 · unrelated business $0 · excluded $0
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $1,598,638 · related or exempt $1,598,638 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,598,638
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0 · program services $0
-
2 · Grants to domestic individuals
total $0 · program services $0
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $1,471,816 · program services $1,471,816
-
5 · Compensation of officers, directors and key employees
total $559,527 · program services $559,527 · management and general $0 · fundraising $0
-
6 · Compensation of disqualified persons
total $1,001,820 · program services $1,001,820 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $0 · program services $0 · management and general $0 · fundraising $0
-
8 · Pension plan contributions
total $65,240 · program services $65,240 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $501,075 · program services $501,075 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $0 · program services $0 · management and general $0 · fundraising $0
-
11a · Fees: management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $0 · program services $0 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $0 · program services $0 · management and general $0 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $0 · program services $0 · management and general $0 · fundraising $0
-
13 · Office expenses
total $685,979 · program services $685,979 · management and general $0 · fundraising $0
-
14 · Information technology
total $0 · program services $0 · management and general $0 · fundraising $0
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $273,838 · program services $273,838 · management and general $0 · fundraising $0
-
17 · Travel
total $57,361 · program services $57,361 · management and general $0 · fundraising $0
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $0 · program services $0 · management and general $0 · fundraising $0
-
20 · Interest
total $0 · program services $0 · management and general $0 · fundraising $0
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $0 · program services $0 · management and general $0 · fundraising $0
-
23 · Insurance
total $0 · program services $0 · management and general $0 · fundraising $0
-
24a · Other expenses: LOAN LOSS PROVISION
total $245,619 · program services $245,619 · management and general $0 · fundraising $0
-
24b · Other expenses: STATE AND OPERATING FEES
total $34,850 · program services $34,850 · management and general $0 · fundraising $0
-
24c · Other expenses: ASSOCIATION DUES
total $25,007 · program services $25,007 · management and general $0 · fundraising $0
-
24d · Other expenses: OUTSIDE AND PROFESSIONAL EXPENSES
total $1,162,418 · program services $1,162,418 · management and general $0 · fundraising $0
-
24e · All other expenses
total $155,353 · program services $155,353 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,416,210 · end of year $1,026,799
-
2 · Savings and temporary cash investments
beginning of year $5,526,374 · end of year $7,444,157
-
4 · Accounts receivable
beginning of year $6,790 · end of year $32,227
-
5 · Loans and receivables from officers and key people
beginning of year $560,856 · end of year $740,924
-
7 · Other notes and loans receivable
beginning of year $62,063,416 · end of year $64,803,253
-
9 · Prepaid expenses and deferred charges
beginning of year $206,239 · end of year $162,781
-
10a · Land, buildings and equipment: cost or other basis
$2,756,664
-
10b · Land, buildings and equipment: accumulated depreciation
$1,740,262
-
10c · Land, buildings and equipment, net
beginning of year $1,021,810 · end of year $1,016,402
-
13 · Investments: program-related
beginning of year $54,963,907 · end of year $55,031,073
-
15 · Other assets
beginning of year $1,971,108 · end of year $1,918,151
-
17 · Accounts payable and accrued expenses
beginning of year $2,430,064 · end of year $2,458,604
-
25 · Other liabilities
beginning of year $114,851,480 · end of year $118,229,881
-
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 $10,455,166 · end of year $11,487,282
Mission and programs · 2024
Mission
A NONPROFIT COOPERATIVE TO PROMOTE FISCAL RESPONSIBILITY AMOUNG ITS MEMBERS AND TO PROVIDE REASONABLE LOAN RATES AND COMPETITIVE SAVING AND INVESTMENT RATES
Activities or mission (Part I)
NONPROFIT COOPERATIVE TO PROMOTE FISCAL RESPONSIBILITY AMONG ITS MEMBERS AND TO PROVIDE REASONABLE LOAN RATES AND COMPETITIVE SAVING AND INVESTMENT RATES
-
CREDIT UNION
Expenses $6,239,903
As filed on the 2024 return.
Listed in Part VII
-
John PurcellJOHN PURCELL
PRESIDENT/CEO
- Total calculated
- $215,000
- From this org
- $215,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $215,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $215,000
-
Elizabeth ChavezELIZABETH CHAVEZ
EVP
- Total calculated
- $123,988
- From this org
- $123,988
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Justin DeskinsJUSTIN DESKINS
VP OF MARKETING AND RETAIL
- Total calculated
- $115,962
- From this org
- $115,962
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Vickie CuttingVICKIE CUTTING
VP OF ACCOUNTING
- Total calculated
- $104,576
- From this org
- $104,576
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
-
Nancy MillanNANCY MILLAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bonnie WiseBONNIE WISE
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Chris BolesCHRIS BOLES
CHAIRMAN OF BOARD
- Total calculated
- $0
- Hours/week
- 1
-
Veda LandersVEDA LANDERS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Mike WellsMIKE WELLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris RuleCHRIS RULE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nichole Alverez SowlesNICHOLE ALVEREZ SOWLES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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 survey or study
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- TRAVEL REIMBURSEMENT IS DEFINED BY CREDIT UNION POLICY
- Schedule J, Part I, Line 3
- CONTRACT CLEARLY DEFINES COMPENSATION SURVEY COMPLETED EVERY 2 YEARS
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2025
- IRS schema version
- 2024v5.0
- Source object
- 202511349349303841
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