2016-11-07T15:50:05-06:00 2015-12-31 382492570 DOEREN MAYHEW 12060 S W 129TH COURT STE 201 MIAMI FL 331864582 990 2015-01-01 596134207 1ST CU OF GAINESVILLE 1STC 3523728225 412 E UNIVERSITY AVE GAINESVILLE FL 32601 TIMOTHY J CANNON CEO 3523728225 2016-11-06 1 DOUGLS J ORTH P01076394 3052328272 2015 2017-02-10 21:41:12Z TIMOTHY J CANNON 412 E UNIVERSITY AVE GAINESVILLE FL 32601 5125711 0 2106 X WWW.ALLIANCECUFL.ORG X 1944 FL PEOPLE HELPING PEOPLE TO MASTER THEIR FINANCIAL SITUATIONS, ONE SOLUTION AT A TIME. 7 7 24 9 26059 -9459 0 0 3529850 3974725 67489 70986 0 0 3597339 4045711 0 0 0 0 1333206 1399651 0 0 0 3406174 2494735 4739380 3894386 -1142041 151325 43843758 47782960 40538022 44321962 3305736 3460998 PEOPLE HELPING PEOPLE TO MASTER THEIR FINANCIAL SITUATIONS, ONCE SOLUTION AT A TIME. 0 0 1ST CREDIT UNION OF GAINESVILLE IS DEDICATED TO SERVING ITS MEMBERS' SAVINGS AND LOAN NEEDS. SERVICES INCLUDE AVAILABILITY OF VARIOUS TYPES OF SAVINGS, CHECKING, CERTIFICATES OF DEPOSIT, AND RETIREMENT ACCOUNTS. THE CREDIT UNION ALSO MAKES LOANS TO MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 950 0 1 24 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X TOM STUDLEY 3523728225 412 E UNIVERSITY AVE GAINESVILLE FL 32601 JOHN E POWER V. CHAIRPERSON 1.00 X 0 0 0 RALPH W HILLARD DIRECTOR 1.00 X 0 0 0 ALAN R MORROW TREASURER/DIRECTOR 1.00 X 0 0 0 GWENDOLYN B DAWSON DIRECTOR/SC CHAIRPERSON 1.00 X 0 0 0 DONNA L MCAFEE CHAIRPERSON/DIRECTOR 1.00 X 0 0 0 TIMOTHY A GOOD DIRECTOR 1.00 X 0 0 0 REIDA SQUIRES SECRETARY/DIRECTOR 1.00 X 0 0 0 TIM CANNON CEO 40.00 X 187992 0 25386 YADLINE SAINT-FORT VP/ACCOUNTING/CFO 40.00 X 101769 0 11869 289761 0 37255 2 0 1 0 FISERV PO BOX 300016 DULUTH GA 300960300 CORE PROCESSOR, CARD PROC. 253914 FRANKEL MEDIA GROUP 105 SW 12 STRETT SUITE 200 NEWBERRY FL 32669 MARKETING 192859 DIGITAL INSIGHT PO BOX 740641 LOS ANGELES CA 900740641 INTERNET BANKING 134653 WILLIAMS GAUTIER GWYNN DELOACH SOREN PO BOX 4128 TALLAHASSEE FL 32315 LAWYERS 101005 4 INCOME ON LOANS 522100 2918570 2918570 FEES/CHARGES/MISC INCOME 522100 1030096 1030096 UNRELATED BUSINESS INCOME 524298 15108 15108 UNRELATED BUSINESS INCOME 900099 10951 10951 3974725 70870 70870 1080116 1080000 116 116 116 4045711 4019652 26059 0 327016 327016 642736 642736 47024 47024 293593 293593 89282 89282 71546 71546 32500 32500 69299 69299 267705 267705 345031 345031 407654 407654 86420 86420 75836 75836 2260 2260 104516 104516 14952 14952 99079 99079 35302 35302 SEE ATTACHED SCHEDULE 882635 882635 3894386 3894386 0 0 972674 511514 764091 4311988 216181 8272 34271869 35364724 105097 90490 2341390 685121 1716673 1656269 345337 344873 4903202 4959905 548634 534925 43843758 47782960 780173 526465 39757849 43795497 40538022 44321962 X 0 0 0 0 3305736 3460998 3305736 3460998 43843758 47782960 151325 3937 0 X 0 1 X 1 0 728453 728453 1347840 546317 801523 265097 138804 126293 1656269 INVESTMENTS IN CERTIFICATES OF DEPOSIT 4528846 F SECFCU CAPITAL SHARES 431059 C 4959905 CERTIFICATES OF DEPOSIT 6658164 MONEY MARKET 8261311 IRAS 1580350 SHARE DRAFT 9341961 REGULAR SHARES 17953711 43795497 X 4045711 0 4045711 0 4045711 3894386 0 3894386 0 3894386 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. 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 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 TO SPECIFIC STATE CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBI MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. AS A RESULT OF ADOPTING THE INCOME TAX TOPIC OF THE FASB ASC, THE CREDIT UNION HAS ASSESSED ITS ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. AS SUCH, THE CREDIT UNION HAS NOT FILED TAX RETURNS FOR REPORTING UBIT-RELATED INCOME FOR TAX YEARS PRIOR TO MARCH 31, 2015. THE IRS AND STATE, WHERE APPLICABLE, HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR YEARS IN WHICH NO TAX RETURNS WAS FILED. MANAGEMENT HAS DETERMINED THAT THE FINANCIAL IMPACT, IF ANY, OF NOT FILING UBIT-RELATED INCOME TAX RETURNS IN PREVIOUS YEARS WOULD NOT BE MATERIAL TO THE CREDIT UNION'S FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2015 AND 2014. X X 0 0 0 TIM CANNON CEO 157610 0 30382 0 0 0 7602 0 17784 0 213378 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION HAS MEMBERS FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED FOR 3 YEAR TERMS BY THE MEMBERSHIP OF THE CREDIT UNION. ELECTIONS ARE HELD ANNUALLY. 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 MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE HAS THE RESPONSIBILITY TO REVIEW ANY CONFLICT OF INTEREST DISCLOSURES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS SET BY THE BOARD. THEY OBTAIN SURVEYS PREPARED BY CUES AND CUNA. THE DATA IS COMPARED AT THE POSITION LEVEL, INCLUDING FACTORS SUCH AS THE NUMBER OF SERVICES, NUMBER OF MEMBERS, AND NUMBER OF LOANS. COMPENSATION IS BASED ON ANALYSIS OF THIS DATA. THE CEO AND COO SET COMPENSATION LEVELS FOR OTHER STAFF MEMBERS BASED ON ANALYSIS DATA OBTAINED FROM SURVEYS PREPARED BY CUES AND CUNA. 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 AVAILABLE FOR PUBLIC VIEWING ON THE NCUA.GOV WEBSITE VIA THE QUARTERLY 5300 FILING.