Priority Credit Union FY2023 filing

Not tax-deductible

Orlando, FLMutual-benefit / member-servingSince 1930EIN 59-0385610Revenue $5.3M in FY2023

On file with the IRSprioritycu.org301 E Michigan St, 32806-4539 · Orlando, FLTax-exempt since Oct 1970

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Caring about people; connecting members with their financial dreams; confident in making a difference in the lives of members.

$273K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $195K a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$273K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
29 mo
of spending, in cash
Looks good: 29.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$54.7M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.3M
+40% vs prior year
Spent
$4.3M
To programs
0%
Net assets
$6.0M
By yearFY2020–FY2025
Revenue
$5.3M
FY2023▲ +40%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.2M
FY2021$4.1M
FY2022$3.8M
FY2023$5.3M
FY2024$3.7M
FY2025$3.8M
Expenses
$4.3M
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.3M
FY2021$2.9M
FY2022$3.6M
FY2023$4.3M
FY2024$3.9M
FY2025$4.7M
Net assets
$6.0M
FY2023▲ +21%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$5.0M
FY2022$4.9M
FY2023$6.0M
FY2024$5.7M
FY2025$4.8M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

8 people listed on the 990; $273K paid to officers and key staff.

Part VII, Section A · reportable compensation
$173,199Pt VII · Sec A
$99,972Pt VII · Sec A
Board Chairman
$0Pt VII · Sec A
Board Vice Chairman
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A
Board Director
$0Pt VII · Sec A
Board Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Alan Rowe$214,796$218,544$173,199$116,134$130,189$96,998
Maria Oshea$95,256$100,201$99,972$83,399$80,299$77,054

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects members with financial dreams, offering lower-rate credit and promoting thrift.

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Provided by the organization

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1 program · $333K · in their own filed words · FY2023
01

Income from the credit union membership and investment of members' funds provide the foundation from which the organization can function and provide services to its' restricted membership.

$333Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.3M
Ln 12
Fees for servicesLn 2g$3.3M
Gifts and grantsLn 1h$1.9M
Investment incomeLn 3$192K
Money outPt IX
$4.3M
Ln 25
Owns and owesPt X
$6.0M
net assets · Ln 32
Cash and savingsLn 1–2$10.4M
Total assetsLn 16$60.7M
LiabilitiesLn 26$54.7M
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Government grantsLn 1e$1.9M
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$192K
Total revenueLn 12$5.3M
Assets in detailPt X, end of year
CashLn 1$530K
SavingsLn 2$9.9M
Cash and savings togetherLn 1–2$10.4M
InvestmentsLn 11–13$531K
Land, buildings, equipmentLn 10c$661K
Other assetsLn 15$203K
Total assetsLn 16$60.7M
LiabilitiesLn 26$54.7M
Net assetsLn 32$6.0M
OperationsPt I, VI
EmployeesI 519
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$11.3M$10.4M
InvestmentsLn 11–13$572K$531K
Land, buildings, equipmentLn 10c$676K$661K
Total assetsLn 16$64.9M$60.7M
LiabilitiesLn 26$60.0M$54.7M
Net assetsLn 32$4.9M$6.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$273K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$777K
Pension plan contributionsLn 8$26K
Other employee benefitsLn 9$54K
Payroll taxesLn 10$67K
Management feesLn 11a$0
Legal feesLn 11b$20K
Accounting feesLn 11c$186K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$128K
Office expensesLn 13$935K
Information technologyLn 14$163K
RoyaltiesLn 15$0
OccupancyLn 16$80K
TravelLn 17$20K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$40K
InterestLn 20$21K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$89K
InsuranceLn 23$33K
Other expenses (24a–d)Ln 24$1.1M
All other expensesLn 24e$209K
Total functional expensesLn 25$4.3M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.8M$4.7M−$902K$4.8M 990 PDF
FY2024 $3.7M$3.9M−$275K$5.7M 990 PDF
FY2023 Viewing $5.3M$4.3M$1.0M$6.0M 990 PDF
FY2022 $3.8M$3.6M$178K$4.9M 990 PDF
FY2021 $4.1M$2.9M$1.2M$5.0M 990 PDF
FY2020 $3.2M$3.3M−$76K$3.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $5,304,291 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $208,331$1,860,187
I-9 Program service revenuePrior year $3,422,266$3,251,785
I-10 Investment incomePrior year $167,108$192,319
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,797,705$5,304,291
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,138,310$1,196,667
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,481,658$3,064,552
I-18 Total expensesPrior year $3,619,968$4,261,219
I-19 Revenue less expensesPrior year $177,737$1,043,072
Part VI · Governance no flags
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,304,291 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$1,860,187
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$1,860,187
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,251,785 · Unrelated business $0 · Excluded from tax $0$3,251,785
VIII-3 Investment incomeRelated to mission $192,319 · Unrelated business $0 · Excluded from tax $0$192,319
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $3,444,104 · Unrelated business $0 · Excluded from tax $0$5,304,291
Part IX · Statement of functional expenses $4,261,219 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$273,171
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$776,737
IX-8 Pension plan contributions$25,746
IX-9 Other employee benefits$54,179
IX-10 Payroll taxes$66,834
IX-11a Management fees$0
IX-11b Legal fees$20,276
IX-11c Accounting fees$185,960
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$127,548
IX-13 Office expenses$935,122
IX-14 Information technology$162,932
IX-15 Royalties$0
IX-16 Occupancy$79,753
IX-17 Travel$20,000
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$40,135
IX-20 Interest$21,496
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$89,422
IX-23 Insurance$32,751
IX-24 Other expenses (24a–d)$1,140,276
IX-24e All other expenses$208,881
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$4,261,219
Part X · Balance sheet $60,688,660 assets, 22 lines filed
Asset lines not itemized here account for $48,189,913; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $507,915$529,517
X-2 Savings and temporary cash investmentsStart of year $10,757,838$9,920,081
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $1,457,360$369,656
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $245,221$284,661
X-10c Land, buildings and equipment, netStart of year $675,955$660,845
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $572,269$531,443
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $174,038$202,544
X-16 Total assetsStart of year $64,902,303$60,688,660
X-17 Accounts payable and accrued expensesStart of year $2,721,279$1,144,794
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $57,273,634$53,593,404
X-26 Total liabilitiesStart of year $59,994,913$54,738,198
X-32 Total net assets or fund balancesStart of year $4,907,390$5,950,462
X-33 Total liabilities and net assetsStart of year $64,902,303$60,688,660
Part XI · Reconciliation of net assets $5,950,462 net assets at year end
XI-1 Total revenue$5,304,291
XI-2 Total expenses$4,261,219
XI-3 Revenue less expenses$1,043,072
XI-4 Net assets at start of year$4,907,390
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,950,462

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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