STATE CHARTERED CREDIT UNIONS IN FLORIDA 121 FINANCIAL CREDIT UNION

EIN: 590248325

JACKSONVILLE, FL

Total Revenue
$6,626,650
Total Expenses
$7,769,987
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1935
Legal Domicile
FL
Principal Officer
DAVID F MAROVICH
Phone
9047776000
Tax Period
2024-01-01 to 2024-02-29

STATE CHARTERED CREDIT UNIONS IN FLORIDA 121 FINANCIAL CREDIT UNION, founded in 1935, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2024. Revenue fell 85% from the prior year — a significant decline worth monitoring. Expenses of $7.8M exceeded revenue, resulting in a 17% operating deficit.

Mission

PROVIDING PERSONAL SOLUTIONS TO INSPIRE FINANCIAL WELL-BEING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $6,310,482
Investment Income $296,891
Other Revenue $19,277
TOTAL REVENUE $6,626,650

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,988,713
Fundraising Expenses $0
Other Expenses $4,938,168
TOTAL EXPENSES $7,769,987

Year-over-Year Comparison

2024 2023 Change
Revenue $6,626,650 $43,381,444 -0.8%
Expenses $7,769,987 $41,542,132 -0.8%
Net Income $-1,143,337 $1,839,312 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
141
Volunteers
12

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$178,123
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HAROLD BOREE CHAIRPERSON 2.00
Officer Director
$0 $0 $0
JOHN SCOTT III VICE CHAIRPERSON 2.00
Officer Director
$0 $0 $0
CYNTHIA DELASSUS TREASURER 2.00
Officer Director
$0 $0 $0
SHELBA WILLIAMS SECRETARY 2.00
Officer Director
$0 $0 $0
BILLIE GREENLIEF DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL HOGAN DIRECTOR 2.00
Director
$0 $0 $0
WILLIAM MACOMBER JR DIRECTOR 2.00
Director
$0 $0 $0
ROBERT GIPSON DIRECTOR 2.00
Director
$0 $0 $0
DAVID MAROVICH PRESIDENT/CEO 40.00
Officer
$95,383 $8,830 $104,213
CYNDI KOAN CFO 40.00
Officer
$64,300 $9,610 $73,910
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $6,626,650 $7,769,987 No data $-1,143,337
2022 $34,683,506 $30,632,937 $656,042,180 $4,050,569
2021 $33,183,095 $28,081,253 $664,348,175 $5,101,842
2020 $31,350,691 $31,266,075 $598,550,758 $84,616
2019 $33,156,168 $31,642,844 $541,950,448 $1,513,324
2018 $31,932,259 $29,125,494 $547,479,699 $2,806,765
2017 $27,131,576 $29,862,262 $551,333,815 $-2,730,686
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