Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: LOAN INTEREST

  total $95,218,492 · related or exempt $95,218,492

• 2b · Program service revenue: OTHER OPERATING INCOME

  total $21,332,674 · related or exempt $21,332,674

• 2c · Program service revenue: FEES AND CHARGES

  total $14,218,089 · related or exempt $14,065,038 · unrelated business $153,051

• 3 · Investment income

  total $14,675,744 · excluded $14,675,744

• 7a · Gross sales of assets other than inventory

  other assets $149,492

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

  other assets $172,596

• 7c · Gain or loss

  other assets -$23,104

• 7d · Net gain or loss

  total -$23,104 · excluded -$23,104

• 11a · Other revenue: NET GAIN ON SERP INVESTMENTS

  total $3,034,122 · excluded $3,034,122

• 11e · Other revenue, total

  $3,034,122

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $25,000

• 4 · Benefits paid to or for members

  total $26,500,209

• 5 · Compensation of officers, directors and key employees

  total $3,364,536

• 7 · Other salaries and wages

  total $27,869,863

• 8 · Pension plan contributions

  total $633,541

• 9 · Other employee benefits

  total $3,579,845

• 10 · Payroll taxes

  total $2,234,562

• 11b · Fees: legal

  total $257,034

• 11c · Fees: accounting

  total $93,872

• 11g · Fees: other

  total $14,219,819

• 12 · Advertising and promotion

  total $5,137,909

• 13 · Office expenses

  total $4,429,610

• 14 · Information technology

  total $334,782

• 16 · Occupancy

  total $3,011,785

• 17 · Travel

  total $110,219

• 19 · Conferences, conventions and meetings

  total $1,117,460

• 20 · Interest

  total $3,611,754

• 22 · Depreciation, depletion and amortization

  total $3,320,863

• 23 · Insurance

  total $440,826

• 24a · Other expenses: PROVISION FOR CREDIT LO

  total $14,840,656

• 24b · Other expenses: LOAN SERVICING EXPENSE

  total $5,070,096

• 24c · Other expenses: MISCELLANEOUS EXPENSE

  total $527,322

• 24d · Other expenses: OPERATING FEES

  total $296,829

• 24e · All other expenses

  total $106,219

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $22,826,889 · end of year $22,149,339

• 2 · Savings and temporary cash investments

  beginning of year $101,244,629 · end of year $235,828,336

• 5 · Loans and receivables from officers and key people

  beginning of year $3,483,204 · end of year $3,520,324

• 7 · Other notes and loans receivable

  beginning of year $1,780,661,407 · end of year $1,902,590,330

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,343,051 · end of year $6,837,886

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

  $91,312,104

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

  $31,386,449

• 10c · Land, buildings and equipment, net

  beginning of year $47,073,156 · end of year $59,925,655

• 12 · Investments: other securities

  beginning of year $502,262,134 · end of year $403,093,916

• 15 · Other assets

  beginning of year $76,801,293 · end of year $86,081,895

• 17 · Accounts payable and accrued expenses

  beginning of year $28,678,443 · end of year $38,010,528

• 21 · Escrow or custodial account liability

  beginning of year $845,908 · end of year $769,167

• 23 · Secured mortgages and notes payable

  end of year $150,000,000

• 25 · Other liabilities

  beginning of year $2,244,904,919 · end of year $2,225,240,938

• 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 $265,266,493 · end of year $306,007,048

The filer's explanations (Part III)

PART I, LINE 1A

BETTIE ADAMS TRAVEL FOR COMPANION $1,716 WILLIAM PERMENTER TRAVEL FOR COMPANION $575 ELVIA WILLIAMS TRAVEL FOR COMPANION $2,864 BRENDA SIMMONS-HUTCHINS TRAVEL FOR COMPANION $1,792 CHANTELLE SCHART TRAVEL FOR COMPANION $1,558 JIM FARAH TRAVEL FOR COMPANION $1,788 TED WILLICH TRAVEL FOR COMPANION $2,775 BRUCE DOUECK TRAVEL FOR COMPANION $1,924

PART I, LINE 1B

WE ISSUE 1099S FOR COMPANION / GUEST TRAVEL.

PART I, LINE 4B

NAME: SAM INMAN, DESCRIPTION: SERP PARTICIPANT, CURRENT YEAR AMOUNT: $250,000. PLAN DESCRIPTION: SERP PAYOUT NAME: JOHN HIRABAYASHI, DESCRIPTION: SERP PARTICIPANT, CURRENT YEAR AMOUNT: $128,000. PLAN DESCRIPTION: SERP PAYOUT NAME: JIMMY LOVELACE, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION NAME: ROGER RASSMAN, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION NAME: TIM SIMPSON, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION NAME: RYAN OLSON, DESCRIPTION: SERP PARTICIPANT, NO DISTRIBUTION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• EDCO FINANCIAL SERVICES INC

  C · FINANCIAL SERVICES - INACTIVE · FL · 100% owned · share of assets $1,000 · controlled entity

  Directly controlled by COMMUNITY FIRST CREDIT UNION OF FLORIDA