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← STATE CHARTERED CREDIT UNIONS IN FLORIDA

Form 990 for tax year 2023

Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.

Totals

Total revenue
$720,790
Total expenses
$679,485
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$775,492
Investment income
-$54,702
Other revenue
$0
Total assets, end of year
$19,499,034
Total liabilities, end of year
$14,458,033
Net assets or fund balances, end of year
$5,041,001
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: LOAN INTEREST INCOME

    total $775,492 · related or exempt $775,492

  • 3 · Investment income

    total $107,812 · related or exempt $107,812

  • 7a · Gross sales of assets other than inventory

    securities $1,695,486

  • 7b · Less cost or other basis and sales expenses

    securities $1,858,000

  • 7c · Gain or loss

    securities -$162,514

  • 7d · Net gain or loss

    total -$162,514 · related or exempt -$162,514

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $113,661

  • 7 · Other salaries and wages

    total $114,549

  • 8 · Pension plan contributions

    total $13,664

  • 10 · Payroll taxes

    total $18,003

  • 11g · Fees: other

    total $32,468

  • 12 · Advertising and promotion

    total $300

  • 13 · Office expenses

    total $6,334

  • 16 · Occupancy

    total $14,338

  • 17 · Travel

    total $6,965

  • 19 · Conferences, conventions and meetings

    total $26,984

  • 20 · Interest

    total $262,793

  • 22 · Depreciation, depletion and amortization

    total $13,749

  • 23 · Insurance

    total $15,147

  • 24a · Other expenses: DATA PROCESSING

    total $17,570

  • 24b · Other expenses: BANK/CREDIT CARD EXPENSE

    total $8,812

  • 24c · Other expenses: SUPERVISION/EXAMINATION

    total $6,203

  • 24d · Other expenses: LOAN SERVICING

    total $3,126

  • 24e · All other expenses

    total $4,819

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $117,638 · end of year $78,418

  • 2 · Savings and temporary cash investments

    beginning of year $1,288,563 · end of year $1,775,817

  • 4 · Accounts receivable

    beginning of year $32,212 · end of year $39,496

  • 7 · Other notes and loans receivable

    beginning of year $14,496,394 · end of year $13,527,973

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,606 · end of year $9,709

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

    $258,114

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

    $159,838

  • 10c · Land, buildings and equipment, net

    beginning of year $109,762 · end of year $98,276

  • 12 · Investments: other securities

    beginning of year $7,216,871 · end of year $3,969,345

  • 17 · Accounts payable and accrued expenses

    beginning of year $69,378 · end of year $29,726

  • 24 · Unsecured notes and loans payable

    beginning of year $750,000

  • 25 · Other liabilities

    beginning of year $17,451,972 · end of year $14,428,307

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,999,696 · end of year $5,041,001

Mission and programs · 2023

Mission

SAVINGS AND COMPETITIVE LOANS. ECCO CREDIT UNION IS A NON PROFIT COOPERATIVE INSTITUTION FORMED FOR THE PURPOSE OF ENCOURAGING SAVINGS BY OFFERING A GOOD RETURN AND USING COLLECTIVE MONIES.

  • ECCO CREDIT UNION IS A NON PROFIT COOPERATIVE INSTITUTION FORMED FOR THE PURPOSE OF ENCOURAGING SAVINGS BY OFFERING A GOOD RETURN AND USING COLLECTIVE MONIES TO MAKE LOANS AT COMPETITIVELY LOW INTEREST RATES.

  • ECCO CREDIT UNION IS A NON PROFIT COOPERATIVE INSTITUTION FORMED FOR THE PURPOSE OF ENCOURAGING SAVINGS BY OFFERING A GOOD RETURN AND USING COLLECTIVE MONIES TO MAKE LOANS AT COMPETITIVELY LOW INTEREST RATES.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Wa Lowery

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Donald Ragland

    SECURITY

    Total calculated
    $0
    Hours/week
    1

  • Dennis Cooper

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • David Hart

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • Paul Bradley

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • John Walker

    FORMER PRESI

    Total calculated
    $54,770
    From this org
    $54,770
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Stephanie H Graves

    PRESIDENT

    Total calculated
    $58,891
    From this org
    $58,891
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
29 May 2024
IRS schema version
2023v5.0
Source object
202411509349301146

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