Form 990 for tax year 2022
Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.
Totals
- Total revenue
- $5,518,385
- Total expenses
- $4,295,862
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $4,482,181
- Investment income
- $338,550
- Other revenue
- $697,654
- Total assets, end of year
- $108,741,379
- Total liabilities, end of year
- $100,593,584
- Net assets or fund balances, end of year
- $8,147,795
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $4,295,862
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,295,862
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 LOANS
total $3,893,890 · related or exempt $3,893,890
-
2b · Program service revenue: FEE INCOME
total $588,291 · related or exempt $588,291
-
3 · Investment income
total $338,550 · related or exempt $338,550
-
11a · Other revenue: OTHER OPERATING INCOME
total $644,861 · related or exempt $644,861
-
11b · Other revenue: UBIT
total $78,316 · unrelated business $78,316
-
11c · Other revenue: LOSS ON OTHER INVESTMENTS
total -$2,375 · related or exempt -$2,375
-
11d · All other revenue
total -$23,148 · related or exempt -$23,148
-
11e · Other revenue, total
$697,654
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,301,619 · management and general $1,301,619
-
8 · Pension plan contributions
total $124,519 · management and general $124,519
-
9 · Other employee benefits
total $186,258 · management and general $186,258
-
10 · Payroll taxes
total -$426,469 · management and general -$426,469
-
13 · Office expenses
total $934,150 · management and general $934,150
-
16 · Occupancy
total $274,731 · management and general $274,731
-
19 · Conferences, conventions and meetings
total $101,038 · management and general $101,038
-
20 · Interest
total $360,844 · management and general $360,844
-
24a · Other expenses: PROF. & OUTSIDE SERVICES
total $652,256 · management and general $652,256
-
24b · Other expenses: PROV FOR LOAN LOSS
total $343,196 · management and general $343,196
-
24c · Other expenses: EDUCATIONAL & PROMO
total $198,433 · management and general $198,433
-
24d · Other expenses: LOAN SERVICING EXPENSE
total $131,173 · management and general $131,173
-
24e · All other expenses
total $114,114 · management and general $114,114
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $9,678,393 · end of year $8,413,127
-
2 · Savings and temporary cash investments
beginning of year $4,939,000 · end of year $8,500,000
-
7 · Other notes and loans receivable
beginning of year $61,348,010 · end of year $76,409,908
-
9 · Prepaid expenses and deferred charges
beginning of year $139,421 · end of year $687,914
-
10a · Land, buildings and equipment: cost or other basis
$4,282,860
-
10b · Land, buildings and equipment: accumulated depreciation
$1,332,974
-
10c · Land, buildings and equipment, net
beginning of year $2,926,405 · end of year $2,949,886
-
12 · Investments: other securities
beginning of year $6,826,646 · end of year $10,582,526
-
15 · Other assets
beginning of year $1,027,028 · end of year $1,198,018
-
17 · Accounts payable and accrued expenses
beginning of year $473,705 · end of year $748,606
-
25 · Other liabilities
beginning of year $79,441,806 · end of year $99,844,978
-
29 · Capital stock, trust principal or current funds
beginning of year $990,192
-
31 · Retained earnings, endowment or other funds
beginning of year $5,979,200 · end of year $8,147,795
Mission and programs · 2022
Mission
CREDIT UNION - TO PROVIDE SERVIES TO APPROXIMATELY 6,040 MEMBERS IN THE FORM OF LOANS, SAVINGS, AND OTHER FINANCIAL SERVICES.
Activities or mission (Part I)
CREDIT UNION - TO PROVIDE FINANCIAL SERVICES FOR ITS MEMBERS.
-
NON-INTEREST EXPENSE & PROVISION FOR LOAN LOSS
Expenses $3,935,018
-
INTEREST EXPENSE
Expenses $360,844
As filed on the 2022 return.
Listed in Part VII
-
Thomas FlowersTHOMAS FLOWERS
CEO
- Total calculated
- $226,075
- From this org
- $202,217
- From related orgs
- $0
- Other
- $23,858
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,482
- Bonus
- $31,624
- Other
- $9,111
- Deferred
- $23,858
- Nontaxable benefits
- not reported
- Filer's total
- $226,075
-
Terri WaldonTERRI WALDON
COO
- Total calculated
- $168,940
- From this org
- $148,942
- From related orgs
- $0
- Other
- $19,998
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $124,038
- Bonus
- $22,500
- Other
- $2,404
- Deferred
- $19,998
- Nontaxable benefits
- not reported
- Filer's total
- $168,940
-
Reb SchmidtREB SCHMIDT
CFO
- Total calculated
- $162,349
- From this org
- $162,349
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,349
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $162,349
-
Shelly BurnsSHELLY BURNS
CLO
- Total calculated
- $132,173
- From this org
- $123,654
- From related orgs
- $0
- Other
- $8,519
- Hours/week
- 40
-
Annie Jo DawsonANNIE JO DAWSON
BOD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Judy FranklinJUDY FRANKLIN
BOD SECRETAR
- Total calculated
- $0
- Hours/week
- 1
-
Gene FreeGENE FREE
BOD
- Total calculated
- $0
- Hours/week
- 1
-
Danny Hassig JrDANNY HASSIG JR
BOD VICE CHA
- Total calculated
- $0
- Hours/week
- 1
-
Diane LongDIANE LONG
BOD TREASURE
- Total calculated
- $0
- Hours/week
- 1
-
Elaine BarberELAINE BARBER
SC MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Dannie BracewellDANNIE BRACEWELL
SC CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Carolyn LarkinsCAROLYN LARKINS
SC SECRETARY
- Total calculated
- $0
- Hours/week
- 1
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
- 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)
- SCHEDULE J, PAGE 1, PART I, LINE 4
- THOMAS FLOWERS 0 16,176 0 TERRI WALDON 0 10,000 0 SHELLY BURNS 0 10,000 0
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 March 2023
- IRS schema version
- 2022v5.0
- Source object
- 202341259349302029
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