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Nonprofiteer
← STATE CHARTERED CREDIT UNIONS IN FLORIDA

Form 990 for tax year 2022

Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.

Totals

Total revenue
$1,809,184
Total expenses
$1,485,697
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,718,072
Investment income
$91,112
Other revenue
$0
Total assets, end of year
$30,364,295
Total liabilities, end of year
$24,795,825
Net assets or fund balances, end of year
$5,568,470
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: INTEREST ON MEMBER LOANS USED

    total $1,276,595 · related or exempt $1,276,595

  • 2b · Program service revenue: FEE INCOME

    total $285,909 · related or exempt $285,909

  • 2c · Program service revenue: OPERATING INCOME

    total $82,464 · related or exempt $82,464

  • 2d · Program service revenue: ATM INCOME

    total $68,244 · related or exempt $68,244

  • 2e · Program service revenue: INSURANCE

    total $4,860 · unrelated business $4,860

  • 3 · Investment income

    total $97,628 · related or exempt $97,628

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

    other assets $6,516

  • 7c · Gain or loss

    other assets -$6,516

  • 7d · Net gain or loss

    total -$6,516 · related or exempt -$6,516

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $433,852

  • 9 · Other employee benefits

    total $95,715

  • 10 · Payroll taxes

    total $130,716

  • 11a · Fees: management

    total $8,106

  • 11c · Fees: accounting

    total $16,784

  • 12 · Advertising and promotion

    total $17,026

  • 13 · Office expenses

    total $187,071

  • 14 · Information technology

    total $4,818

  • 16 · Occupancy

    total $20,686

  • 19 · Conferences, conventions and meetings

    total $34,956

  • 20 · Interest

    total $81,175

  • 22 · Depreciation, depletion and amortization

    total $37,594

  • 23 · Insurance

    total $53,071

  • 24a · Other expenses: PROFESSIONAL FEES

    total $110,188

  • 24b · Other expenses: LOAN LOSS PROVISIONS

    total $106,562

  • 24c · Other expenses: ATM FEES

    total $69,795

  • 24d · Other expenses: SERVICE CHARGES

    total $36,225

  • 24e · All other expenses

    total $41,357

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $835,255 · end of year $857,581

  • 2 · Savings and temporary cash investments

    beginning of year $5,241,068 · end of year $7,117,185

  • 7 · Other notes and loans receivable

    beginning of year $20,532,673 · end of year $21,319,249

  • 9 · Prepaid expenses and deferred charges

    beginning of year $139,539 · end of year $118,839

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

    $966,023

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

    $336,867

  • 10c · Land, buildings and equipment, net

    beginning of year $605,053 · end of year $629,156

  • 11 · Investments: publicly traded securities

    beginning of year $5

  • 15 · Other assets

    beginning of year $234,274 · end of year $322,285

  • 17 · Accounts payable and accrued expenses

    beginning of year $142,882 · end of year $206,040

  • 25 · Other liabilities

    beginning of year $22,070,002 · end of year $24,589,785

  • 29 · Capital stock, trust principal or current funds

    beginning of year $249,500 · end of year $249,500

  • 31 · Retained earnings, endowment or other funds

    beginning of year $5,125,483 · end of year $5,318,970

Mission and programs · 2022

Mission

POMPANO BEACH EMPL. CREDIT UNION IS A -NOT FOR PROFIT" COOPERATIVE, FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS AT BETTER RATES THAN THOSE AVAILABLE FROM OTHER 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 LOANDED TO MEMBERS, AS WELL AS ACCUMULATED SURPLUSE, IS INVESTED IN SECURITIES ALLOWED BY THE NCUA, AND THE CREDIT UNION'S GOVERNING DOCUMENTS.

As filed on the 2022 return.

Listed in Part VII

  • Nannette Collette

    CEO

    Total calculated
    $151,936
    From this org
    $136,713
    From related orgs
    $0
    Other
    $15,223
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $136,713
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,223
    Nontaxable benefits
    not reported
    Filer's total
    $151,936

  • Robert Brantley

    BOARD AUDIT

    Total calculated
    $0
    Hours/week
    5

  • Kerry Justice

    TREASURER

    Total calculated
    $0

  • Frankie Chevere

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    5

  • Mike Deberry

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Mary Pritchard

    SECRETARY

    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

None.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349308162

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