Skip to content
Nonprofiteer
← STATE CHARTERED CREDIT UNIONS IN FLORIDA

Form 990 for tax year 2025

Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.

Totals

Total revenue
$7,109,835
Total expenses
$6,177,830
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,342,688
Investment income
$2,767,147
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: INCOME FROM LOANS

    total $3,094,191 · related or exempt $3,094,191

  • 2b · Program service revenue: FEES/CHARGES/OTHER

    total $1,222,525 · related or exempt $1,222,525

  • 2c · Program service revenue: FINANCE & INSURANCE

    total $25,972 · unrelated business $25,972

  • 3 · Investment income

    total $2,767,147 · related or exempt $2,767,147

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $563,609

  • 7 · Other salaries and wages

    total $1,353,791

  • 8 · Pension plan contributions

    total $156,540

  • 9 · Other employee benefits

    total $324,725

  • 10 · Payroll taxes

    total $111,164

  • 11b · Fees: legal

    total $34,480

  • 11c · Fees: accounting

    total $455,497

  • 12 · Advertising and promotion

    total $62,471

  • 13 · Office expenses

    total $435,363

  • 14 · Information technology

    total $398,719

  • 16 · Occupancy

    total $141,319

  • 17 · Travel

    total $88,130

  • 20 · Interest

    total $684,665

  • 22 · Depreciation, depletion and amortization

    total $234,260

  • 23 · Insurance

    total $188,470

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $331,331

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $284,403

  • 24c · Other expenses: RADIANT MERGER

    total $110,718

  • 24d · Other expenses: VISA EXPENSES

    total $95,668

  • 24e · All other expenses

    total $122,507

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,276,228 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $24,980,173 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $50,705 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $48,480,390 · end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $251,934 · end of year $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,595,745 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $17,749,792 · end of year $0

  • 12 · Investments: other securities

    beginning of year $45,447,976 · end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $1,901,281 · end of year $0

  • 15 · Other assets

    beginning of year $2,961,867 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,374,014

  • 25 · Other liabilities

    beginning of year $126,664,760 · end of year $0

  • 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 $18,657,317 · end of year $0

Mission and programs · 2025

Mission

DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES.

  • INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James Norwood Jr

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Rudy Howard

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Candy Rigdon

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Cathy Merritt

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Linda Osborne

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Betty Poteet

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Matt Reynolds

    BOD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gretchen Lunsford

    CEO

    Total calculated
    $692,215
    From this org
    $649,116
    From related orgs
    $0
    Other
    $43,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,716
    Bonus
    $24,682
    Other
    $388,718
    Deferred
    $0
    Nontaxable benefits
    $43,099
    Filer's total
    $692,215

  • Sandra Prevatt

    EVP

    Total calculated
    $630,112
    From this org
    $589,320
    From related orgs
    $0
    Other
    $40,792
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,067
    Bonus
    $27,329
    Other
    $373,924
    Deferred
    $0
    Nontaxable benefits
    $40,792
    Filer's total
    $630,112

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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

PART I, LINE 3
GRETCHEN LUNSFORD'S AND SANDRA PREVATT'S COMPENSATION REPORTED IN COLUMN B(III) OF SCH J INCLUDES A 457(B) BENEFIT DISTRIBUTIONS. THE EXECUTIVES' ANNUAL 457(B) DEFERRALS WERE REPORTED AS A COMPONENT OF BOX 5 COMPENSATION WITHIN PRIOR YEARS' FORMS W-2. SPECIFICALLY, SINCE BOX 5 HAS HISTORICALLY EXCEEDED THE DOLLAR AMOUNT REPORTED IN BOX 1, THE COMPENSATION RELATIVE TO THE 457(B) DISTRIBUTION ($384,996 FOR GRETCHEN LUNSFORD AND $373,722 FOR SANDRA PREVATT) INCLUDED IN 2025 COMPENSATION REPORTED IN PART VII AND SCH J, PART II WAS BEEN REPORTED AS W-2 COMPENSATION IN PRIOR YEARS' FORMS 990 AS IT WAS BEING DEFERRED BY THE EMPLOYEE.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2025
Filed
27 August 2026
IRS schema version
2025v4.2
Source object
202632439349301208

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.