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← STATE CHARTERED CREDIT UNIONS IN FLORIDA

Form 990 for tax year 2022

Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.

Totals

Total revenue
$783,000
Total expenses
$573,976
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$690,427
Investment income
$92,573
Other revenue
$0
Total assets, end of year
$23,271,046
Total liabilities, end of year
$18,271,350
Net assets or fund balances, end of year
$4,999,696
Program services expenses (Part IX)
$573,976
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% 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 INCOME

    total $690,427 · related or exempt $690,427

  • 3 · Investment income

    total $92,573 · related or exempt $92,573

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $133,925 · program services $133,925

  • 7 · Other salaries and wages

    total $80,280 · program services $80,280

  • 8 · Pension plan contributions

    total $17,175 · program services $17,175

  • 10 · Payroll taxes

    total $17,211 · program services $17,211

  • 11c · Fees: accounting

    total $11,900 · program services $11,900

  • 11g · Fees: other

    total $30,895 · program services $30,895

  • 12 · Advertising and promotion

    total $2,290 · program services $2,290

  • 13 · Office expenses

    total $38,692 · program services $38,692

  • 16 · Occupancy

    total $37,244 · program services $37,244

  • 17 · Travel

    total $9,320 · program services $9,320

  • 20 · Interest

    total $149,616 · program services $149,616

  • 23 · Insurance

    total $16,852 · program services $16,852

  • 24a · Other expenses: DATA PROCESSING

    total $9,037 · program services $9,037

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

    total $7,650 · program services $7,650

  • 24c · Other expenses: SUPERVISION/EXAMINATION

    total $6,617 · program services $6,617

  • 24d · Other expenses: MISCELLANEOUS

    total $2,000 · program services $2,000

  • 24e · All other expenses

    total $3,272 · program services $3,272

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $766,021 · end of year $117,638

  • 2 · Savings and temporary cash investments

    beginning of year $4,325,700 · end of year $1,288,563

  • 4 · Accounts receivable

    beginning of year $25,747 · end of year $32,212

  • 7 · Other notes and loans receivable

    beginning of year $11,686,378 · end of year $14,496,394

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,396 · end of year $9,606

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

    $255,851

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

    $146,089

  • 10c · Land, buildings and equipment, net

    beginning of year $118,453 · end of year $109,762

  • 11 · Investments: publicly traded securities

    beginning of year $7,925,300 · end of year $7,216,871

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,915 · end of year $69,378

  • 24 · Unsecured notes and loans payable

    end of year $750,000

  • 25 · Other liabilities

    beginning of year $20,028,408 · end of year $17,451,972

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,790,672 · end of year $4,999,696

Mission and programs · 2022

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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Wa Lowery

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Donald Ragland

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Dennis Cooper

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • David Hart

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Paul Bradley

    SECURITY

    Total calculated
    $0
    Hours/week
    1

  • John C Walker

    PRESIDENT

    Total calculated
    $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
2022
Filed
1 August 2023
IRS schema version
2022v5.0
Source object
202302269349301485

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