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State Chartered Cu's in FL

Pensacola, FLUnknown exempt organizationEIN 59-0895489Revenue $1.2M in FY2020

On file with the IRSgpcecu.com200 North Pace Blvd · Pensacola, FL

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Provision of credit union (cu) services to its members.

Run by 12 volunteers and 16 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Pay to officers and key staff
$92K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$1.1M
Net assets
$0

From the FY2020 Form 990 (year ending October 2020) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Who runs it and what they're paid

10 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation
Anita Cooper
President/CEO
$92,106Pt VII · Sec A
Lisa Williams
Vice Chair
$0Pt VII · Sec A
Regina Carter
Secretary
$0Pt VII · Sec A
Wayne Rhodes
Treasurer
$0Pt VII · Sec A
Larry Carter
Director
$0Pt VII · Sec A
Joel Moye
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Hugh Fones
Director
$0Pt VII · Sec A
See State Chartered Cu's in FL executive salaries →

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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

Offers credit union services to its members.

Questions for State Chartered Cu's in FL

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Loan production

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$720K
Investment incomeLn 3$299K
Other incomeLn 4–11$137K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$720K
Investment incomeLn 3$299K
Other incomeLn 4–11$137K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 516
VolunteersI 612
Fiscal year endsHeaderOctober
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 FY20End FY20
Cash and savingsLn 1–2$4.0M$0
InvestmentsLn 11–13$20.9M$0
Land, buildings, equipmentLn 10c$600K$0
Total assetsLn 16$46.6M$0
LiabilitiesLn 26$42.9M$0
Net assetsLn 32$3.7M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$98K
Other salaries and wagesLn 7$366K
Other employee benefitsLn 9$102K
Other fees for servicesLn 11g$502K
OccupancyLn 16$41K
Depreciation, depletion and amortizationLn 22$33K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $1.2M$1.1M$13K$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $1,155,768 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $949,697$719,798
I-10 Investment incomePrior year $630,847$299,398
I-11 Other revenuePrior year $268,348$136,572
I-12 Total revenuePrior year $1,848,892$1,155,768
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 $755,024$565,966
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $732,651$576,353
I-18 Total expensesPrior year $1,487,675$1,142,319
I-19 Revenue less expensesPrior year $361,217$13,449
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $1,155,768 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $719,798$719,798
VIII-3 Investment incomeRelated to mission $299,398$299,398
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $136,572$136,572
VIII-12 Total revenueRelated to mission $1,155,768 · Unrelated business $0 · Excluded from tax $0$1,155,768
Part IX · Statement of functional expenses $1,142,319 across 6 lines filed
IX-5 Pay of current officers, directors and key staff$97,828
IX-7 Other salaries and wages$366,003
IX-9 Other employee benefits$102,135
IX-11g Other fees for services$501,594
IX-16 Occupancy$41,341
IX-22 Depreciation, depletion and amortization$33,418
IX-25 Total functional expenses$1,142,319
Part X · Balance sheet $0 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,486,068$0
X-2 Savings and temporary cash investmentsStart of year $2,536,209$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $600,243$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investmentsStart of year $20,943,445$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,458,451$0
X-16 Total assetsStart of year $46,611,116$0
X-17 Accounts payable and accrued expensesStart of year $268,780$0
X-25 Other liabilitiesStart of year $42,648,832$0
X-26 Total liabilitiesStart of year $42,917,612$0
X-32 Total net assets or fund balancesStart of year $3,693,504$0
X-33 Total liabilities and net assetsStart of year $46,611,116$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$1,155,768
XI-2 Total expenses$1,142,319
XI-3 Revenue less expenses$13,449
XI-4 Net assets at start of year$3,693,504
XI-9 Other changes in net assets−$3,706,953
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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