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← STATE CHARTERED CREDIT UNIONS IN FLORIDA

Form 990 for tax year 2023

Filed by STATE CHARTERED CREDIT UNIONS IN FLORIDA.

Totals

Total revenue
$64,769,031
Total expenses
$53,493,486
Contributions and grants received
$182,626
Grants paid
$0
Program service revenue
$58,657,533
Investment income
$5,928,872
Other revenue
$0
Total assets, end of year
$1,278,730,537
Total liabilities, end of year
$1,137,998,117
Net assets or fund balances, end of year
$140,732,420
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.

  • 1e · Government grants (contributions)

    $182,626

  • 2a · Program service revenue: MEMBER LOAN INTEREST

    total $49,576,424 · related or exempt $49,576,424

  • 2b · Program service revenue: SERVICE CHARGES AND FEES

    total $4,172,343 · related or exempt $4,144,945 · unrelated business $27,398

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $3,740,736 · related or exempt $3,740,736

  • 2d · Program service revenue: OTHER NONOPERATING INCOME

    total $1,168,030 · related or exempt $1,168,030

  • 3 · Investment income

    total $5,903,976 · excluded $5,903,976

  • 7a · Gross sales of assets other than inventory

    other assets $188,233

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

    other assets $163,337

  • 7c · Gain or loss

    other assets $24,896

  • 7d · Net gain or loss

    total $24,896 · excluded $24,896

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,928,464

  • 7 · Other salaries and wages

    total $9,513,562

  • 8 · Pension plan contributions

    total $751,482

  • 9 · Other employee benefits

    total $2,999,475

  • 10 · Payroll taxes

    total $833,594

  • 11a · Fees: management

    total $602,557

  • 11b · Fees: legal

    total $100,738

  • 11c · Fees: accounting

    total $155,579

  • 11d · Fees: lobbying

    total $4,398

  • 12 · Advertising and promotion

    total $1,735,512

  • 13 · Office expenses

    total $3,564,610

  • 14 · Information technology

    total $2,401,112

  • 16 · Occupancy

    total $1,133,831

  • 17 · Travel

    total $228,840

  • 19 · Conferences, conventions and meetings

    total $7,850

  • 20 · Interest

    total $1,238,645

  • 21 · Payments to affiliates

    total $125,346

  • 22 · Depreciation, depletion and amortization

    total $1,214,765

  • 23 · Insurance

    total $209,324

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $16,555,145

  • 24b · Other expenses: PROVISION FOR LOSSES

    total $4,662,140

  • 24c · Other expenses: LOAN SERVICING

    total $2,828,266

  • 24d · Other expenses: FRAUD EXPENSE

    total $263,354

  • 24e · All other expenses

    total $434,897

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,116,171 · end of year $5,990,422

  • 2 · Savings and temporary cash investments

    beginning of year $58,437,742 · end of year $82,354,917

  • 7 · Other notes and loans receivable

    beginning of year $820,341,901 · end of year $948,205,123

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,641,844 · end of year $29,330,384

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

    $35,929,191

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

    $11,935,136

  • 10c · Land, buildings and equipment, net

    beginning of year $18,041,354 · end of year $23,994,055

  • 12 · Investments: other securities

    beginning of year $177,263,003 · end of year $176,208,152

  • 15 · Other assets

    beginning of year $11,659,466 · end of year $12,647,484

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,251,408 · end of year $12,510,876

  • 21 · Escrow or custodial account liability

    beginning of year $1,556,605 · end of year $1,773,502

  • 23 · Secured mortgages and notes payable

    beginning of year $17,500,000 · end of year $66,500,000

  • 25 · Other liabilities

    beginning of year $960,599,334 · end of year $1,057,213,739

  • 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 $129,594,134 · end of year $140,732,420

Mission and programs · 2023

Mission

COMMUNITY CREDIT UNION OF FLORIDA IS A MEMBER-OWNED, NOT-FOR-PROFIT, FINANCIAL CO-OPERATIVE FORMED IN 1953 BY LOCAL EDUCATORS. COMMUNITY CREDIT UNION OF FLORIDA HAS GROWN TO MORE THAN 57,000 MEMBERS. COMMUNITY CREDIT UNION OF FLORIDA'S MISSION IS TO "ALWAYS IMPROVE THE FINANCIAL WELL-BEING OF OUR MEMBERS AND MAKE A POSITIVE DIFFERENCE IN OUR COMMUNITY."

Activities or mission (Part I)

IMPROVE MEMBERS' FINANCIAL WELL-BEING AND MAKE A POSITIVE DIFFERENCE IN OUR COMMUNITY.

  • COMMUNITY CREDIT UNION OF FLORIDA PROVIDED FINANCIAL SERVICES TO 57,000 MEMBERS AS OF 12/31/2023 AND SERVICED APPROXIMATELY 33,969 LOANS.

  • COMMUNITY CREDIT UNION OF FLORIDA OFFERS FINANCIAL SERVICES TO 57,000 MEMBERS THROUGH DEPOSIT ACCOUNTS, DEBIT CARDS, MONEY ORDERS, SAFE DEPOSIT BOXES, WIRE TRANSFERS AND MANY OTHER SERVICES PROVIDED TO MEMBERS.

  • INVESTMENTS ARE USED AS A MEANS OF EXTRA EARNINGS ON DEPOSITED FUNDS THAT HAVE NOT BEEN UTILIZED FOR ANY LENDING PROGRAMS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Linda Dale

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Moses Harvin

    VICE CHAIR OF THE BOARD

    Total calculated
    $3,301
    From this org
    $3,301
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Johnette Gindling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Platman

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Raines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurie Cappelli

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $847,467
    From this org
    $834,051
    From related orgs
    $0
    Other
    $13,416
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $447,705
    Bonus
    $112,693
    Other
    $273,653
    Deferred
    $12,033
    Nontaxable benefits
    $1,384
    Filer's total
    $847,468

  • Margaret Hasenbeck

    CHIEF FINANCIAL OFFICER

    Total calculated
    $232,544
    From this org
    $205,898
    From related orgs
    $0
    Other
    $26,646
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,617
    Bonus
    $20,375
    Other
    -$94
    Deferred
    $2,293
    Nontaxable benefits
    $24,353
    Filer's total
    $232,544

  • Lesli Dooley

    CHIEF OPERATING OFFICER

    Total calculated
    $298,633
    From this org
    $278,259
    From related orgs
    $0
    Other
    $20,374
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $243,026
    Bonus
    $33,029
    Other
    $2,204
    Deferred
    $7,928
    Nontaxable benefits
    $12,446
    Filer's total
    $298,633

  • Daniel Kelley

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $306,339
    From this org
    $275,334
    From related orgs
    $0
    Other
    $31,005
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $243,026
    Bonus
    $33,029
    Other
    -$721
    Deferred
    $0
    Nontaxable benefits
    $31,005
    Filer's total
    $306,339

  • David Hill

    CHIEF INFORMATION OFFICER

    Total calculated
    $243,480
    From this org
    $205,305
    From related orgs
    $0
    Other
    $38,175
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $185,617
    Bonus
    $20,375
    Other
    -$687
    Deferred
    $6,947
    Nontaxable benefits
    $31,228
    Filer's total
    $243,480

  • Barbara Gunter

    VP OF HUMAN RESOURCES

    Total calculated
    $206,262
    From this org
    $190,913
    From related orgs
    $0
    Other
    $15,349
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,203
    Bonus
    $14,136
    Other
    $574
    Deferred
    $6,167
    Nontaxable benefits
    $9,182
    Filer's total
    $206,262

  • Amanda Banks

    VP OF OPERATIONS

    Total calculated
    $206,113
    From this org
    $190,557
    From related orgs
    $0
    Other
    $15,556
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $176,203
    Bonus
    $14,136
    Other
    $218
    Deferred
    $6,167
    Nontaxable benefits
    $9,388
    Filer's total
    $206,112

  • Melissa Roundy

    VP OF LENDING

    Total calculated
    $203,552
    From this org
    $179,772
    From related orgs
    $0
    Other
    $23,780
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,918
    Bonus
    $13,295
    Other
    $559
    Deferred
    $11,649
    Nontaxable benefits
    $12,131
    Filer's total
    $203,552

  • Kimberly Seefeld

    VP OF BRANCH OPERATIONS

    Total calculated
    $186,940
    From this org
    $179,903
    From related orgs
    $0
    Other
    $7,037
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,918
    Bonus
    $13,295
    Other
    $690
    Deferred
    $5,807
    Nontaxable benefits
    $1,229
    Filer's total
    $186,939

  • Leslie Tibbetts

    VP OF COMMERCIAL SERVICES

    Total calculated
    $182,447
    From this org
    $167,198
    From related orgs
    $0
    Other
    $15,249
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,938
    Bonus
    $13,066
    Other
    -$6,806
    Deferred
    $5,633
    Nontaxable benefits
    $9,616
    Filer's total
    $182,447

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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 1A
IN TAX YEAR 2023, COMMUNITY CREDIT UNION OF FLORIDA REIMBURSED TRAVEL EXPENSES FOR THE COMPANIONS TO MOSES HARVIN, DIRECTOR. THE AMOUNTS ARE INCLUDED IN REPORTABLE COMPENSATION IN PART VII AND SCHEDULE J.
PART I, LINE 4B
LAURIE CAPPELLI, CHIEF EXECUTIVE OFFICER, PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN IN 2023 SPONSORED BY COMMUNITY CREDIT UNION OF FLORIDA. IN 2023, THERE WAS ONE DISTRIBUTION IN THE AMOUNT OF $250,000. THIS INFORMATION IS INCLUDED IN REPORTABLE COMPENSATION ON THE CURRENT YEAR FORM 990, PART VII AND SCHEDULE J, PART II.

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
2023
Filed
10 September 2024
IRS schema version
2023v5.1
Source object
202412569349301866

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