Form 990 for tax year 2024
Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.
Totals
- Total revenue
- $31,798,268
- Total expenses
- $30,792,561
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $25,650,775
- Investment income
- $6,147,493
- Other revenue
- $0
- Total assets, end of year
- $600,624,639
- Total liabilities, end of year
- $585,919,502
- Net assets or fund balances, end of year
- $14,705,137
- 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: INTEREST ON LOANS
total $19,531,607 · related or exempt $19,531,607
-
2b · Program service revenue: FEES/CHARGES/OTHER
total $6,085,404 · related or exempt $6,085,404
-
2c · Program service revenue: FINANCE & INSURANCE
total $33,764 · unrelated business $33,764
-
3 · Investment income
total $6,147,493 · related or exempt $6,147,493
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $747,342
-
7 · Other salaries and wages
total $6,961,113
-
8 · Pension plan contributions
total $733,205
-
9 · Other employee benefits
total $1,083,827
-
10 · Payroll taxes
total $575,218
-
11a · Fees: management
total $61,384
-
11b · Fees: legal
total $81,668
-
11c · Fees: accounting
total $93,000
-
11g · Fees: other
total $367,323
-
12 · Advertising and promotion
total $599,365
-
13 · Office expenses
total $1,040,544
-
14 · Information technology
total $282,238
-
16 · Occupancy
total $1,146,940
-
17 · Travel
total $190,187
-
19 · Conferences, conventions and meetings
total $18,733
-
20 · Interest
total $8,208,252
-
22 · Depreciation, depletion and amortization
total $1,347,429
-
23 · Insurance
total $216,717
-
24a · Other expenses: SHARE/DEBIT/CREDIT CARD
total $2,500,896
-
24b · Other expenses: PROVISION FOR LOAN LOSS
total $1,793,141
-
24c · Other expenses: MAINTENANCE AND REPAIRS
total $1,119,044
-
24d · Other expenses: CREDIT AND COLLECTION E
total $696,584
-
24e · All other expenses
total $928,411
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,053,989 · end of year $2,795,166
-
2 · Savings and temporary cash investments
beginning of year $55,264,090 · end of year $57,705,559
-
4 · Accounts receivable
beginning of year $2,650,047 · end of year $8,663,130
-
5 · Loans and receivables from officers and key people
end of year $971,506
-
7 · Other notes and loans receivable
beginning of year $383,413,668 · end of year $386,996,452
-
9 · Prepaid expenses and deferred charges
beginning of year $10,100,349 · end of year $12,353,193
-
10a · Land, buildings and equipment: cost or other basis
$29,447,250
-
10b · Land, buildings and equipment: accumulated depreciation
$9,939,085
-
10c · Land, buildings and equipment, net
beginning of year $20,008,214 · end of year $19,508,165
-
11 · Investments: publicly traded securities
beginning of year $104,941,582 · end of year $96,332,164
-
12 · Investments: other securities
beginning of year $2,725,950 · end of year $2,789,056
-
15 · Other assets
beginning of year $12,694,109 · end of year $12,510,248
-
17 · Accounts payable and accrued expenses
beginning of year $8,066,319 · end of year $8,015,137
-
25 · Other liabilities
beginning of year $573,687,029 · end of year $577,904,365
-
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 $13,098,650 · end of year $14,705,137
Mission and programs · 2024
Mission
FLORIDACENTRAL CREDIT UNION IS A MEMBER OWNED COOPERATIVE DEDICATED TO PROMOTING THRIFT AND PROVIDING ITS MEMBERS WITH COMPETITIVELY PRICED, QUALITY FINANCIAL SERVICES WHILE MAINTAINING SERVICE IN A PROFESSIONAL, ACCURATE AND EFFICIENT MANNER TO ALL MEMBERS REGARDLESS OF SOCIO-ECONOMIC STATUS.
-
INCOME FROM THE CREDIT UNION MEMBERSHIP AND FROM THE INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
William MignoneWILLIAM MIGNONE
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Margaret SpurrierMARGARET SPURRIER
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Stephen ShearSTEPHEN SHEAR
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Braton ColeBRATON COLE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Stevie OsterlandSTEVIE OSTERLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David SteffenDAVID STEFFEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Gary VienGARY VIEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Thuy Linh N DangTHUY LINH N DANG
PRESIDENT/CEO
- Total calculated
- $556,250
- From this org
- $502,842
- From related orgs
- $0
- Other
- $53,408
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $502,842
- Bonus
- $0
- Other
- $0
- Deferred
- $29,591
- Nontaxable benefits
- $23,817
- Filer's total
- $556,250
-
Thomas GabrylukTHOMAS GABRYLUK
CFO
- Total calculated
- $22,935
- From this org
- $20,181
- From related orgs
- $0
- Other
- $2,754
- Hours/week
- 40
-
Mitchell Scott NewbergerMITCHELL SCOTT NEWBERGER
COO
- Total calculated
- $168,157
- From this org
- $150,408
- From related orgs
- $0
- Other
- $17,749
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,408
- Bonus
- $0
- Other
- $0
- Deferred
- $7,482
- Nontaxable benefits
- $10,267
- Filer's total
- $168,157
-
Thomas ChesnuttTHOMAS CHESNUTT
DIRECTOR OF SALES
- Total calculated
- $159,670
- From this org
- $151,515
- From related orgs
- $0
- Other
- $8,155
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,515
- Bonus
- $0
- Other
- $0
- Deferred
- $7,411
- Nontaxable benefits
- $744
- Filer's total
- $159,670
-
Carla GantCARLA GANT
VP HUMAN RESOURCES
- Total calculated
- $164,884
- From this org
- $142,892
- From related orgs
- $0
- Other
- $21,992
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,892
- Bonus
- $0
- Other
- $0
- Deferred
- $7,509
- Nontaxable benefits
- $14,483
- Filer's total
- $164,884
-
Daniel GeorgeDANIEL GEORGE
VP OF FINANCE
- Total calculated
- $130,527
- From this org
- $107,943
- From related orgs
- $0
- Other
- $22,584
- Hours/week
- 40
-
Brian RobinsonBRIAN ROBINSON
SVP/CMO
- Total calculated
- $194,571
- From this org
- $174,889
- From related orgs
- $0
- Other
- $19,682
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $174,889
- Bonus
- $0
- Other
- $0
- Deferred
- $8,672
- Nontaxable benefits
- $11,010
- Filer's total
- $194,571
-
Pamela WendlandPAMELA WENDLAND
CHIEF CREDIT OFFICER
- Total calculated
- $173,003
- From this org
- $154,574
- From related orgs
- $0
- Other
- $18,429
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,574
- Bonus
- $0
- Other
- $0
- Deferred
- $4,556
- Nontaxable benefits
- $13,873
- Filer's total
- $173,003
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 · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 4B
- THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS TO THE PRESIDENT/CEO, THUY LINH DANG THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR." AT SPECIFIED TIMES, THE PARTICIPANT MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. SEE SCHEDULE L.
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.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MEMBER SERVICES CORPORATION
C · CREDIT UNION SUPPORT SERVICE · FL · 100% owned · share of income $739,700 · share of assets $740,941 · controlled entity
Directly controlled by FLORIDA CENTRAL CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523149349303077
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