ITHINK FINANCIAL CREDIT UNION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ITHINK FINANCIAL CREDIT UNION (EIN 59-1286880)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202423199349308132
- 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 | 2024-11-14T12:29:43+00:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 440160260 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Forvis Mazars LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 820 Massachusetts Ave Suite 1370 | AddressLine1Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | 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 | 591286880 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | iTHINK Financial Credit Union | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ITHI | BusinessNameControlTxt |
| Phone | 5619824700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 NW 17th Ave | AddressLine1Txt |
| City | Delray Beach | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 334452555 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Michael Miller | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 5619824700 | PhoneNum |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Michael Summers | PreparerPersonNm |
| PTIN | P00838533 | PTIN |
| Phone | 3173834000 | PhoneNum |
| Preparation | 2024-11-15 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ITHINK FINANCIAL | BusinessNameLine1Txt |
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL L MILLER | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 NW 17th Ave | AddressLine1Txt |
| City | Delray Beach | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 334452555 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $125,415,279 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | ITHINKFI.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1969 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | TO DELIVER SERVICE EXCELLENCE TO THE MEMBERSHIP AND THE COMMUNITIES WE SERVE WHILE ENSURING THE SAFETY AND SOUNDNESS OF THE CREDIT UNION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 457 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $116,204 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $81,246,392 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $98,497,668 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,180,046 | PYInvestmentIncomeAmt |
| CY Investment Income | $10,855,923 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $86,426,438 | PYTotalRevenueAmt |
| CY Total Revenue | $109,353,591 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $46,196 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $74,826 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $35,092,531 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $36,388,405 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $32,054,735 | PYOtherExpensesAmt |
| CY Other Expenses | $59,760,761 | CYOtherExpensesAmt |
| PY Total Expenses | $67,193,462 | PYTotalExpensesAmt |
| CY Total Expenses | $96,223,992 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $19,232,976 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $13,129,599 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,178,700,861 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,185,778,208 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,028,936,151 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,025,506,425 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $149,764,710 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $160,271,783 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO DELIVER SERVICE EXCELLENCE TO THE MEMBERSHIP AND THE COMMUNITIES WE SERVE WHILE ENSURING THE SAFETY AND SOUNDNESS OF THE CREDIT UNION. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, LOANS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. | Desc |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | Yes (true) | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 28154 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 457 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | Yes (true) | LocalChaptersInd |
| Policies Reference Chapters | Yes (true) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | false | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | FL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | GA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ITHINK FINANCIAL CREDIT UNION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5619824700 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 NW 17TH Ave | AddressLine1Txt |
| City | Delray Beach | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 334452555 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| BRAD J DEBAUCHE | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $1,054 | $0 | $0 | ||
| DONALD L LEE | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $6,062 | $0 | $0 | ||
| JOHNNY BENNETT | ||||||||
| DIRECTOR | 1.0 | 1.0 | Yes (X) | $8,076 | $0 | $0 | ||
| JUANA KRAUSE | ||||||||
| VICE CHAIRPERSON | 1.0 | 0.0 | Yes (X) | $10,408 | $0 | $0 | ||
| MARIE MASCARO | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $5,801 | $0 | $0 | ||
| MICHAEL W TOWNSEND | ||||||||
| CHAIRPERSON | 1.0 | 1.0 | Yes (X) | $6,837 | $0 | $0 | ||
| PETER BLACKLOCK | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $6,021 | $0 | $0 | ||
| STEPHANIE M FORSTER | ||||||||
| SECRETARY | 1.0 | 0.0 | Yes (X) | $904 | $0 | $0 | ||
| THOMAS E BRAWLEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| EDISON CERVANTES | ||||||||
| CTO | 40.0 | 0.0 | $309,559 | $0 | $31,461 | Yes (X) | ||
| JEFFREY KOLHAGEN | ||||||||
| CFO | 40.0 | 0.0 | $359,734 | $0 | $85,025 | Yes (X) | ||
| MARK SKINNER | ||||||||
| CLO | 40.0 | 0.0 | $352,812 | $0 | $68,380 | Yes (X) | ||
| MICHAEL MILLER | ||||||||
| PRESIDENT/CEO | 40.0 | 1.0 | $1,065,017 | $0 | $144,109 | Yes (X) | ||
| NICOLE HEFFELFINGER | ||||||||
| CRO | 40.0 | 0.0 | $318,797 | $0 | $48,406 | Yes (X) | ||
| ANTHONY FURINO | ||||||||
| AVP OF COMMERCIAL LENDING | 40.0 | 0.0 | $187,644 | $0 | $35,927 | Yes (X) | ||
| Benjamin Maffett | ||||||||
| SBA and Commercial Sales Manager | 40.0 | 0.0 | $255,478 | $0 | $29,131 | Yes (X) | ||
| BRADLEY STEWART | ||||||||
| AVP OF RISK MANAGEMENT | 40.0 | 0.0 | $179,830 | $0 | $37,608 | Yes (X) | ||
| DIANA CRULL | ||||||||
| DIRECTOR OF FINANCE | 40.0 | 0.0 | $168,328 | $0 | $22,021 | Yes (X) | ||
| STEPHEN JOHNSON | ||||||||
| AVP ADMINISTRATION & MARKETING | 40.0 | 0.0 | $172,090 | $0 | $36,999 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,414,452 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $539,067 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 35 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line2ContractorAddress/USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|
| UNITED HEALTHCARE | ||||||
| 500 ROSS STREET | PITTSBURGH | PA | 15262 | INSURANCE | $5,475,137 | |
| CORELATION | ||||||
| 2305 HISTORIC DECATUR RD STE 300 | SAN DIEGO | CA | 92106 | CORE PROCESSOR | $1,240,821 | |
| AT&T | ||||||
| PO BOX 5019 | CAROL STREAMS | IL | 601975019 | COMMUNICATIONS | $690,051 | |
| CUBUS SOLUTIONS | ||||||
| 1530 SUN CITY BLVD STE 120-127 | GEORGETOWN | TX | 78633 | WEB DESIGN | $642,471 | |
| EVOK Advertising | ||||||
| 152 N 4th St | Lake Mary | FL | 32746 | Marketing | $599,099 | Suite 140 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 51 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INCOME ON LOANS | 522100 | $82,705,516 | $82,705,516 |
| FEES/CHARGES/OTHER | 522100 | $6,841,932 | $6,841,932 |
| INTERCHANGE INCOME | 522100 | $6,098,251 | $6,098,251 |
| FNMA SERVICING | 522100 | $690,111 | $690,111 |
| GAP INSURANCE | 522100 | $231,613 | $231,613 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,930,245 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,814,041 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $116,204 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $98,497,668 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,035,804 | TotalRevenueColumnAmt |
| Exclusion | $10,035,804 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $16,048,648 | SecuritiesAmt |
| Other | $833,159 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $16,061,688 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$13,040 | SecuritiesAmt |
| Other | $833,159 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $820,119 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $820,119 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $109,353,591 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $99,201,583 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $116,204 | UnrelatedBusinessRevenueAmt |
| Exclusion | $10,035,804 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,826 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,828,463 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,743,172 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,551,509 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,230,932 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,034,329 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $386,522 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,128 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $817,375 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,138,382 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,422,930 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,972,534 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,611,895 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $950,369 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,134,981 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $169,706 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $975,160 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PROVISION FOR LOAN LOSS | $5,995,443 |
| VISA FEES/CHARGES | $1,886,097 |
| LOAN SERVICING | $1,612,936 |
| SHARED BRANCHING | $458,245 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,115,058 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $96,223,992 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,287,039 | BOYAmt |
| EOY | $11,449,122 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,557,425 | BOYAmt |
| EOY | $158,556,967 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,398,016 | BOYAmt |
| EOY | $4,430,611 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,651,862 | BOYAmt |
| EOY | $11,964,059 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,775,355,823 | BOYAmt |
| EOY | $1,771,762,012 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,619,579 | BOYAmt |
| EOY | $1,964,597 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $43,299,113 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $20,474,050 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,738,524 | BOYAmt |
| EOY | $22,825,063 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $131,579,830 | BOYAmt |
| EOY | $117,167,023 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,137,791 | BOYAmt |
| EOY | $12,381,855 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,416,894 | BOYAmt |
| EOY | $14,024,867 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $65,958,078 | BOYAmt |
| EOY | $59,252,032 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,178,700,861 | BOYAmt |
| EOY | $2,185,778,208 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,756,562 | BOYAmt |
| EOY | $23,648,311 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,163,606 | BOYAmt |
| EOY | $235,225,695 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,782,015,983 | BOYAmt |
| EOY | $1,766,632,419 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,028,936,151 | BOYAmt |
| EOY | $2,025,506,425 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $149,764,710 | BOYAmt |
| EOY | $160,271,783 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $149,764,710 | BOYAmt |
| EOY | $160,271,783 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,178,700,861 | BOYAmt |
| EOY | $2,185,778,208 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $13,129,599 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,719,703 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$8,342,229 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,966,552 | OtherCostOrOtherBasisAmt |
| Book Value | $7,966,552 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,893,408 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,505,142 | DepreciationAmt |
| Book Value | $10,388,266 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,645,515 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,319,235 | DepreciationAmt |
| Book Value | $326,280 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $16,643,385 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,500,146 | DepreciationAmt |
| Book Value | $4,143,239 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $150,253 | OtherCostOrOtherBasisAmt |
| Depreciation | $149,527 | DepreciationAmt |
| Book Value | $726 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $22,825,063 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| SHARE DRAFTS | $454,263,901 |
| MONEY MARKET | $324,652,551 |
| SHARES | $405,452,346 |
| CERTIFICATES | $575,782,264 |
| RIGHT OF USE LEASE LIABILITY | $6,481,357 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,766,632,419 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $111,804,420 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $2,450,829 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $2,450,829 | RevenueNotReportedAmt |
| Revenue Subtotal | $109,353,591 | RevenueSubtotalAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $109,353,591 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $96,223,992 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $96,223,992 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $96,223,992 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | FormAndLineReferenceDesc |
| Explanation | THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED 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 SUBSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBIT MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | iTHINK Community Foundation | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 NW 17th Avenue | AddressLine1Txt |
| City | Delray Beach | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33445 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 352550107 | RecipientEIN |
| IRC Section | 501(c)(3) | IRCSectionDesc |
| Cash Grant | $74,826 | CashGrantAmt |
| Purpose Of Grant | General Support | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | ITHINK COMMUNITY FOUNDATION INC IS THE ONLY RECIPIENT OF GRANT FUNDS. THE FUNDS ARE PROVIDED TO SUPPORT THE MISSION AND PROGRAMS OF THE ORGANIZATION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MICHAEL MILLER | ||||||||||||||
| PRESIDENT/CEO | $737,500 | $0 | $321,376 | $0 | $6,141 | $0 | $124,277 | $0 | $19,832 | $0 | $1,209,126 | $0 | $150,000 | $0 |
| JEFFREY KOLHAGEN | ||||||||||||||
| CFO | $300,502 | $0 | $59,232 | $0 | $0 | $0 | $63,590 | $0 | $21,435 | $0 | $444,759 | $0 | $0 | $0 |
| MARK SKINNER | ||||||||||||||
| CLO | $295,417 | $0 | $57,395 | $0 | $0 | $0 | $48,548 | $0 | $19,832 | $0 | $421,192 | $0 | $0 | $0 |
| NICOLE HEFFELFINGER | ||||||||||||||
| CRO | $264,552 | $0 | $54,245 | $0 | $0 | $0 | $26,971 | $0 | $21,435 | $0 | $367,203 | $0 | $0 | $0 |
| EDISON CERVANTES | ||||||||||||||
| CTO | $253,889 | $0 | $55,670 | $0 | $0 | $0 | $24,493 | $0 | $6,968 | $0 | $341,020 | $0 | $0 | $0 |
| ANTHONY FURINO | ||||||||||||||
| AVP OF COMMERCIAL LENDING | $161,345 | $0 | $26,299 | $0 | $0 | $0 | $14,492 | $0 | $21,435 | $0 | $223,571 | $0 | $0 | $0 |
| DIANA CRULL | ||||||||||||||
| DIRECTOR OF FINANCE | $154,500 | $0 | $13,828 | $0 | $0 | $0 | $15,053 | $0 | $6,968 | $0 | $190,349 | $0 | $0 | $0 |
| BRADLEY STEWART | ||||||||||||||
| AVP OF RISK MANAGEMENT | $154,237 | $0 | $25,593 | $0 | $0 | $0 | $16,173 | $0 | $21,435 | $0 | $217,438 | $0 | $0 | $0 |
| STEPHEN JOHNSON | ||||||||||||||
| AVP ADMINISTRATION & MARKETING | $148,277 | $0 | $23,813 | $0 | $0 | $0 | $15,564 | $0 | $21,435 | $0 | $209,089 | $0 | $0 | $0 |
| Benjamin Maffett | ||||||||||||||
| SBA and Commercial Sales Manager | $97,615 | $0 | $157,863 | $0 | $0 | $0 | $9,298 | $0 | $19,833 | $0 | $284,609 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 1a Travel for companions | CERTAIN BOARD MEMBERS AND OFFICERS RECEIVE TRAVEL FOR COMPANIONS AND IS INCLUDED IN TAXABLE COMPENSATION. |
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | THE CREDIT UNION ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT FOR MICHAEL MILLER, PRESIDENT/CEO, MARK SKINNER, CHIEF LENDING OFFICER, AND JEFFREY KOLHAGEN, CFO, IN THE FORM OF SECURED SPLIT DOLLAR AGREEMENTS. THE CREDIT UNION LOANED EACH EMPLOYEE, WHO ARE THE OWNERS OF THE POLICIES, THE FUNDS TO PURCHASE THESE POLICIES. THE POLICIES ARE USED TO COLLATERALIZE THE LOANS. AS OF DECEMBER 31, 2023, THE BALANCE OF THE LOANS TO MICHAEL MILLER, MARK SKINNER, AND JEFFREY KOLHAGEN APPROXIMATED $9,264,687, $1,042,521, AND $1,408,051, RESPECTIVELY. ITHINK FINANCIAL CREDIT UNION PARTICIPATES IN A 457(F) PLAN. MICHAEL MILLER, MARK SKINNER, AND JEFFREY KOLHAGEN PARTICIPATED AND HAD FUNDS ADDED IN 2023. |
Schedule L IRS990ScheduleL
Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp (3 entries)
| Relationship With OrgRelationshipWithOrgTxt | Loan PurposeLoanPurposeTxt | Loan From OrganizationLoanFromOrganizationInd | Original PrincipalOriginalPrincipalAmt | Balance DueBalanceDueAmt | DefaultDefaultInd | Board Or Committee ApprovalBoardOrCommitteeApprovalInd | Written AgreementWrittenAgreementInd |
|---|---|---|---|---|---|---|---|
| Michael L Miller | |||||||
| President/CEO | To Fund SERP Policy | Yes (X) | $8,750,000 | $9,264,687 | false | Yes (true) | Yes (true) |
| Mark Skinner | |||||||
| Chief Lending Officer | To fund SERP Policy | Yes (X) | $1,000,000 | $1,042,521 | false | Yes (true) | Yes (true) |
| Jeffrey Kolhagen | |||||||
| Chief Financial Officer | to Fund SERP Policy | Yes (X) | $1,400,000 | $1,408,051 | false | Yes (true) | Yes (true) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | $11,715,259 | TotalBalanceDueAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Line 4 Significant changes to organizational documents | iTHINK Financial Credit Union added additional counties to their list of eligible members for the most recent bylaws dated September 13, 2023. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | ITHINK FINANCIAL CREDIT UNION HAS MEMBERS AND REQUIRES A $5 SHARE ACCOUNT TO BE A MEMBER. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | 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 MEMBERS OF THE CREDIT UNION AS THEY OCCUR. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | THE FORM 990 IS REVIEWED BY THE CEO AND CFO PRIOR TO BEING FILED. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. |
| Form 990, Part VI, Line 12c Conflict of interest policy | ITHINK FINANCIAL CREDIT UNION REGULARLY MONITORS AND ENFORCES THE COMPLIANCE OF THEIR CONFLICT OF INTEREST POLICY. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | AN OUTSIDE COMPANY WAS USED TO ANALYZE THE PAY STRUCTURE FOR THE CEO. THE BOARD EXECUTIVE COMMITTEE REVIEWS IT ANNUALLY. |
| Form 990, Part VI, Line 19 Required documents available to the public | 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 AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. |
| Form 990, Part VIII, Line 2f Other Program Service Revenue | Misc Income - Total Revenue: 1930245, Related or Exempt Function Revenue: 1814041, Unrelated Business Revenue: 116204, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | Adoption of ASU 2016-13 Topic 326 (CECL) - -8342229; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|---|
| SOUTHEAST SERVICES ORGANIZATION II LLC | |||||||||
| 1000 NW 17TH AVENUE | DELRAY BEACH | FL | 33445 | 823522506 | LOANS | FL | $907,082 | $14,993,519 | ITHINK FIN |
| SOUTHEAST TITLE SERVICES ORGANIZATION | |||||||||
| 1000 NW 17TH AVENUE | DELRAY BEACH | FL | 33445 | 830971682 | TITLE SERVICE | FL | $29,612 | $78,573 | ITHINK FIN |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ITHINK COMMUNITY FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 NW 17TH AVENUE | AddressLine1Txt |
| City | DELRAY BEACH | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33445 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 352550107 | EIN |
| Primary Activities | CHARITABLE | PrimaryActivitiesTxt |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ITHINK FINAN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FIRST INTERNET ASSOCIATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 790 PARK OF COMMERCE BLVD | AddressLine1Txt |
| City | BOCA RATON | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33487 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 650772946 | EIN |
| Primary Activities | INTERNET EDUC | PrimaryActivitiesTxt |
| Legal Domicile State | FL | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ITHINK FIN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C Corporation | EntityTypeTxt |
| Share Of Total Income | $6,000 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $0 | ShareOfEOYAssetsAmt |
| Ownership | 1.00 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (true) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |