STATE CHARTERED CREDIT UNIONS IN FLORIDA: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- STATE CHARTERED CREDIT UNIONS IN FLORIDA (EIN 59-0690962)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-08-07
- IRS object ID
- 202402209349301700
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-07T13:10:41-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 382492570 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOEREN MAYHEW | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8785 SW 165TH AVENUE SUITE 303 | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33193 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590690962 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STATE CHARTERED CREDIT UNIONS IN FLORIDA | BusinessNameLine1Txt |
| Business Name Line2 | POWER FINANCIAL CREDIT UNION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | STAT | BusinessNameControlTxt |
| Phone | 9545384400 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2020 NW 150TH AVENUE | AddressLine1Txt |
| City | PEMBROKE PINES | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33028 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ALLAN PRINDLE | PersonNm |
| Person Title | PRESIDENT/CEO | PersonTitleTxt |
| Phone | 9545386228 | PhoneNum |
| Signature | 2024-08-02 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN J MURNANE JR | PreparerPersonNm |
| PTIN | P03021572 | PTIN |
| Phone | 3052328272 | PhoneNum |
| Preparation | 2024-08-01 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | POWER FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ALLAN PRINDLE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2020 NW 150TH AVE | AddressLine1Txt |
| City | PEMBROKE PINES | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33028 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $41,000,804 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Group Exemption | 2106 | GroupExemptionNum |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.POWERFI.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | POWER FINANCIAL CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS AT RATES GENERALLY LOWER THAN BANKS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 162 | TotalEmployeeCnt |
| Total Volunteers | 11 | TotalVolunteersCnt |
| Total Gross UBI | $59,621 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $28,096,020 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $35,119,819 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,403,523 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,759,438 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $32,499,543 | PYTotalRevenueAmt |
| CY Total Revenue | $40,879,257 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $149,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $74,372 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $11,719,433 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $12,800,278 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,531,411 | PYOtherExpensesAmt |
| CY Other Expenses | $14,277,807 | CYOtherExpensesAmt |
| PY Total Expenses | $24,399,844 | PYTotalExpensesAmt |
| CY Total Expenses | $27,152,457 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $8,099,699 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $13,726,800 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $892,249,418 | TotalAssetsBOYAmt |
| Total Assets EOY | $878,503,924 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $810,338,667 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $778,142,504 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $81,910,751 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $100,361,420 | NetAssetsOrFundBalancesEOYAmt |
| Mission | POWER FINANCIAL CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION ORGANIZED TO PROMOTE THRIFT AND PROVIDE CREDIT TO MEMBERS AT RATES GENERALLY LOWER THAN BANKS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | INTERESTS AND DIVIDENDS PAID TO MEMBERS ON THEIR SHARE ACCOUNTS, MONEY MARKET ACCOUNTS, AND CERTIFICATES OF DEPOSIT. INTEREST IS PAID AT MARKET RATES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EMPLOYEE LABOR AND BENEFITS COSTS INCURRED TO SUPPORT SAVINGS SERVICES, LOAN ORIGINATIONS, AND SERVICING THE LOAN PORTFOLIO FOR ITS MEMBERS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OFFICE EXPENSES AND DATA PROCESSING EXPENSES NECESSARY TO SUPPORT MEMBER ACCOUNT AND LOAN ACTIVITIES BY PROVIDING MEMBERS ACCESS TO THEIR ACCOUNTS AND SERVICES PROVIDED BY THE CREDIT UNION. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 12145 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 162 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WANDA S FERRER | PersonNm |
| Phone | 9545384446 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2020 NW 150 AVE | AddressLine1Txt |
| City | PEMBROKE PINES | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33028 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| LEMAN MURRAY | ||||||||
| CHAIRPERSON OF BOARD | 5.00 | Yes (X) | $9,826 | $0 | $0 | |||
| WENDEL SAUER | ||||||||
| SECRETARY OF BOARD | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| TERRY KEITH | ||||||||
| TREASURER OF BOARD | 5.00 | Yes (X) | $2,826 | $0 | $0 | |||
| JOHN BRESLIN | ||||||||
| VICE CHAIRPERSON OF BOARD | 5.00 | Yes (X) | $9,551 | $0 | $0 | |||
| PAT CARNEVALE | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| TONY CUBA | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN KNIGHT | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| LESLIE MCCONACHIE | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $3,294 | $0 | $0 | |||
| JACK E PATTERSON | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $0 | $0 | $0 | |||
| GEORGE SKILLAS | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $9,724 | $0 | $0 | |||
| GENE SEVILLA | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $7,613 | $0 | $0 | |||
| ALLAN PRINDLE | ||||||||
| PRESIDENT/CEO | 40.00 | $1,028,473 | $0 | $32,295 | Yes (X) | |||
| WANDA FERRER | ||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | $250,629 | $0 | $36,702 | Yes (X) | |||
| MICHELLE DIAZ | ||||||||
| CHIEF INFORMATION OFFICER | 40.00 | $264,261 | $0 | $27,351 | Yes (X) | |||
| CLAIRE BERGGUIST | ||||||||
| CHIEF TALENT & KNOWLEDGE O | 40.00 | $206,094 | $0 | $39,879 | Yes (X) | |||
| LESLEY GARCIA SUAREZ | ||||||||
| CHIEF LENDING OFFICER | 40.00 | $202,731 | $0 | $36,746 | Yes (X) | |||
| ALICIA QUEVEDO | ||||||||
| CHIEF MEMBERSHIP OFFICER | 40.00 | $186,134 | $0 | $25,947 | Yes (X) | |||
| MARK MATTOZZI | ||||||||
| SR. COMM. LENDING OFFICER | 40.00 | $203,400 | $0 | $16,197 | Yes (X) | |||
| PING LUO | ||||||||
| VP CONTROLLER | 40.00 | $176,808 | $0 | $24,701 | Yes (X) | |||
| DAVID ESQUIVEL | ||||||||
| VP NETWORK SERVICES | 40.00 | $157,013 | $0 | $25,003 | Yes (X) | |||
| VINCENZO FIORDELISI | ||||||||
| VP, MARKETING | 40.00 | $135,820 | $0 | $29,346 | Yes (X) | |||
| JAVIER SABORIO | ||||||||
| VP, RETAIL | 40.00 | $132,140 | $0 | $29,775 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,986,337 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $323,942 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JACK HENRY AND ASSOCIATES INC | |||||
| PO BOX 609 | MONETT | MO | 65708 | FINANCIAL SERVICES | $686,780 |
| NCR CORPORATION | |||||
| PO BOX 740641 | LOS ANGELES | CA | 900740641 | IT SERVICES | $455,595 |
| VISA USA INC | |||||
| PO BOX 742233 | LOS ANGELES | CA | 900742233 | CREDIT/DEBIT SERVICES | $445,159 |
| PSCU-FS | |||||
| 560 CARILLON PARKWAY | ST PETERBURG | FL | 33716 | FINANCIAL SERVICES | $229,703 |
| KRCX WRI HOLDINGS LLC | |||||
| 500 NORTH BROADWAY STE 201 | JERICHO | NY | 11753 | RENT | $221,957 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| INTEREST ON LOANS | 522100 | $29,759,326 | $29,759,326 | |
| FEE INCOME & OTHER OPERATING INCO | 522100 | $5,300,872 | $5,300,872 | |
| FINANCE & INSURANCE | 520000 | $59,621 | $59,621 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $35,119,819 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,785,192 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,785,192 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $95,793 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $121,547 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$25,754 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$25,754 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$25,754 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,879,257 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $40,819,636 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $59,621 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,372 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,380,076 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,409,498 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $181,476 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,083,997 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $745,231 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,822 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $136,415 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $158,217 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $739,544 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $788,037 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,005,411 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $320,248 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $328,659 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,633 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,831,822 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $983,902 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $153,035 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| MAINTENANCE & REPAIRS | $1,884,843 |
| PROVISION FOR LOAN LOSS | $921,530 |
| LOAN SERVICING | $506,712 |
| DEBIT/CREDIT EXPENSE | $463,304 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $929,673 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,152,457 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,940,848 | BOYAmt |
| EOY | $4,014,801 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,677,617 | BOYAmt |
| EOY | $48,673,635 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,392,801 | BOYAmt |
| EOY | $5,903,535 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $607,594,880 | BOYAmt |
| EOY | $652,754,168 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,633,799 | BOYAmt |
| EOY | $7,739,538 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $30,149,092 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $16,760,551 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,677,598 | BOYAmt |
| EOY | $13,388,541 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $103,812,549 | BOYAmt |
| EOY | $92,375,170 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,832,675 | BOYAmt |
| EOY | $3,436,975 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,541,510 | BOYAmt |
| EOY | $15,467,191 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,145,141 | BOYAmt |
| EOY | $34,750,370 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $892,249,418 | BOYAmt |
| EOY | $878,503,924 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,885,929 | BOYAmt |
| EOY | $7,445,956 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,663,125 | BOYAmt |
| EOY | $5,337,160 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,012,492 | BOYAmt |
| EOY | $58,332,694 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $773,777,121 | BOYAmt |
| EOY | $707,026,694 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $810,338,667 | BOYAmt |
| EOY | $778,142,504 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,910,751 | BOYAmt |
| EOY | $100,361,420 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,910,751 | BOYAmt |
| EOY | $100,361,420 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $892,249,418 | BOYAmt |
| EOY | $878,503,924 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $13,726,800 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $2,167,920 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $2,555,949 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,086,421 | OtherCostOrOtherBasisAmt |
| Book Value | $3,086,421 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,986,745 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,955,431 | DepreciationAmt |
| Book Value | $10,031,314 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $404,257 | OtherCostOrOtherBasisAmt |
| Depreciation | $273,930 | DepreciationAmt |
| Book Value | $130,327 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,618,022 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,477,543 | DepreciationAmt |
| Book Value | $140,479 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $53,647 | OtherCostOrOtherBasisAmt |
| Depreciation | $53,647 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,388,541 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SHARE DEPOSITS | Desc |
| Amt | $707,026,694 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $707,026,694 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $41,083,643 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $204,386 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $204,386 | RevenueNotReportedAmt |
| Revenue Subtotal | $40,879,257 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $40,879,257 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $27,152,457 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $27,152,457 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $27,152,457 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | THE CREDIT UNION COLLECTS (ON A MONTHLY BASIS) PAYMENT FROM MEMBERS WITH MORTGAGE LOANS OUTSTANDING. AS STIPULATED BY THE AGREEMENT SIGNED BY BOTH PARTIES, THE MONTHLY PAYMENT FOR EACH MEMBER INLCUDES PRINCIPAL, INTEREST, AND ESCROWS. ESCROWS ARE USED TO PAY TAXES AND INSURANCE ON THE PROPERTY. |
| PART X, LINE 2: | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. HOWEVER, THE CREDIT UNION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE "MORE LIKELY THAN NOT" STANDARD FOR SUSTAINABILITY ON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BIG BROTHERS BIG SISTERS OF MIAMI | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 NW 42ND AVENUE | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33126 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 475086692 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $67,972 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | TO SUPPORT THE ORGANIZATION'S MISSION TO INSPIRE CHILDREN'S PASSIONS AND ENCOURAGE THEM TO ACHIEVE SUCCESS IN LIFE. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THESE ARE CHARITABLE CONTRIBUTIONS, NOT A GRANTS. THEREFORE THERE IS NO MONITORING OF THE USE OF FUNDS SUBSEQUENT TO THE CONTRIBUTIONS BEING FUNDED. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (11 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ALLAN PRINDLE | ||||||||||||||
| PRESIDENT/CEO | $476,606 | $0 | $112,147 | $0 | $439,720 | $0 | $14,850 | $0 | $17,445 | $0 | $1,060,768 | $0 | $0 | $0 |
| MICHELLE DIAZ | ||||||||||||||
| CHIEF INFORMATION OFFICER | $217,824 | $0 | $45,355 | $0 | $1,082 | $0 | $10,967 | $0 | $16,384 | $0 | $291,612 | $0 | $0 | $0 |
| WANDA FERRER | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $206,556 | $0 | $43,413 | $0 | $660 | $0 | $11,693 | $0 | $25,009 | $0 | $287,331 | $0 | $0 | $0 |
| CLAIRE BERGGUIST | ||||||||||||||
| CHIEF TALENT & KNOWLEDGE O | $168,879 | $0 | $36,613 | $0 | $602 | $0 | $9,854 | $0 | $30,025 | $0 | $245,973 | $0 | $0 | $0 |
| LESLEY GARCIA SUAREZ | ||||||||||||||
| CHIEF LENDING OFFICER | $166,624 | $0 | $35,807 | $0 | $300 | $0 | $9,637 | $0 | $27,109 | $0 | $239,477 | $0 | $0 | $0 |
| MARK MATTOZZI | ||||||||||||||
| SR. COMM. LENDING OFFICER | $122,369 | $0 | $76,944 | $0 | $4,087 | $0 | $9,056 | $0 | $7,141 | $0 | $219,597 | $0 | $0 | $0 |
| ALICIA QUEVEDO | ||||||||||||||
| CHIEF MEMBERSHIP OFFICER | $151,116 | $0 | $32,016 | $0 | $3,002 | $0 | $8,569 | $0 | $17,378 | $0 | $212,081 | $0 | $0 | $0 |
| PING LUO | ||||||||||||||
| VP CONTROLLER | $155,869 | $0 | $19,847 | $0 | $1,092 | $0 | $8,188 | $0 | $16,513 | $0 | $201,509 | $0 | $0 | $0 |
| DAVID ESQUIVEL | ||||||||||||||
| VP NETWORK SERVICES | $138,091 | $0 | $18,310 | $0 | $612 | $0 | $5,004 | $0 | $19,999 | $0 | $182,016 | $0 | $0 | $0 |
| VINCENZO FIORDELISI | ||||||||||||||
| VP, MARKETING | $119,385 | $0 | $16,015 | $0 | $420 | $0 | $6,613 | $0 | $22,733 | $0 | $165,166 | $0 | $0 | $0 |
| JAVIER SABORIO | ||||||||||||||
| VP, RETAIL | $113,247 | $0 | $14,848 | $0 | $4,045 | $0 | $6,086 | $0 | $23,689 | $0 | $161,915 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4B | FormAndLineReferenceDesc |
| Explanation | ALLAN PRINDLE, THE CEO, PARTICIPATES IN A NON-QUALIFIED RETENTION PAYMENT PLAN. DURING 2023, $405,000 OF THE TOTAL BENEFIT VESTED. THIS VESTED BENEFIT WAS REPORTED AS COMPENSATION ON HIS 2023 FORM W-2. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE CREDIT UNION HAS MEMBERS. MEMBERS ARE THOSE WHO QUALIFY UNDER THE FIELD OF MEMBERSHIP CRITERIA AND CHOOSE TO JOIN. |
| FORM 990, PART VI, SECTION A, LINE 7A | THERE IS A PRE-QUALIFICATION FOR NOMINEES TO THE BOARD OF DIRECTORS. A NOMINATING COMMITTEE INTERVIEWS EACH POTENTIAL BOARD MEMBER AND MAKES RECOMMENDATIONS ON WHETHER THE APPLICANT WILL BE NOMINATED TO THE VOTING BALLOT. ONCE THE BALLOT IS FINAL, THE MEMBERS OF THE CREDIT UNION VOTE ON THE ELECTION OF THE BOARD MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF THE MEMBERS OF THE CREDIT UNION AS THEY OCCUR. |
| FORM 990, PART VI, SECTION B, LINE 11B | A CPA FIRM PREPARES FORM 990. A COMPLETED DRAFT OF FORM 990 IS REVIEWED BY MANAGEMENT. ONCE THE FINAL DRAFT IS APPROVED, THE FORM IS FILED. SUBSSEQUENT TO FILING THE RETURN IS PRESENTED TO THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANY KNOWN CONFLICTS WHEN HIRED TO WORK AT POWER FINANCIAL CREDIT UNION. THEY ARE ALSO REQUIRED TO INFORM HUMAN RESOURCES DEPARTMENT OF ANY CHANGES. OUR "CONFLICTS OF INTEREST" POLICY STATES THAT THE CREDIT UNION RESERVES THE RIGHT TO TAKE APPROPRIATE ACTION FOR NOT TIMELY REPORTING CHANGES. THE HUMAN RESOURCES DEPARTMENT KEEPS ALL EMPLOYEES' "ANNUAL DISCLOSURE STATEMENTS." |
| FORM 990, PART VI, SECTION B, LINE 15 | FOR THE CEO, WE USE A COMPENSATION SURVEY PUBLISHED BY A THIRD PARTY. THE CEO HAS A WRITTEN EMPLOYMENT CONTRACT AND CHANGES TO HIS COMPENSATION REQUIRE APPROVAL BY THE BOARD OF DIRECTORS. FOR OTHER OFFICERS AND KEY EMPLOYEES, WE REVIEW OUR BUDGET FOR THE POSITION, AND THEN USE COMPENSATION SURVEYS TO DETERMINE APPRORIATE COMPENSATION. COMPENSATION LEVELS ARE APPROVED BY THE CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. |
| FORM 990, PART IX, LINE 24E | ATM EXPENSE 413,086. FRAUD LOSSES 288,914. SHARED FACILITIES EXPENSE 206,377. MISCELLANEOUS 21,296. |
| FORM 990, PART XI, LINE 9: | NET PENSION GAINS/(LOSSES) 2,555,949. |
| FORM 990, PART XII, LINE 2C | THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. |