FIRST COAST COMMUNITY CREDIT UNION

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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

1948

Legal Domicile

Principal Officer

GRETCHEN LUNSFORD

Phone

3863285555

Tax Period

2024-01-01 to 2024-12-31

FIRST COAST COMMUNITY CREDIT UNION, founded in 1948, is a community nonprofit that reported $7.3M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.4M, a strong 19% operating margin.

Mission

DELIVERING DREAMS THROUGH SIMPLIFIED FINANCIAL SERVICES.

Program Service Accomplishments

Program 1

INCOME FROM CREDIT UNION MEMBERSHIP AND FROM INVESTMENT OF MEMBERS' FUNDS PROVIDE THE FOUNDATION FROM WHICH THE ORGANIZATION CAN FUNCTION AND PROVIDE SERVICES TO ITS RESTRICTED MEMBERSHIP.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,705,805

Investment Income $2,581,742

Other Revenue $0

TOTAL REVENUE $7,287,547

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,580,067

Fundraising Expenses $0

Other Expenses $3,310,397

TOTAL EXPENSES $5,890,464

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,287,547	$6,569,294	+0.1%
Expenses	$5,890,464	$5,084,911	+0.2%
Net Income	$1,397,083	$1,484,383	-0.1%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$717,009

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES NORWOOD JR	CHAIRPERSON	1.00	Director	$0	$0	$0
RUDY HOWARD	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
CANDY RIGDON	SECRETARY	1.00	Director	$0	$0	$0
CATHY MERRITT	TREASURER	1.00	Director	$0	$0	$0
LINDA OSBORNE	BOD MEMBER	1.00	Director	$0	$0	$0
BETTY POTEET	BOD MEMBER	1.00	Director	$0	$0	$0
MATT REYNOLDS	BOD MEMBER	1.00	Director	$0	$0	$0
GRETCHEN LUNSFORD	CEO	40.00	Officer	$417,799	$39,949	$457,748
SANDRA PREVATT	EVP	40.00	Officer	$221,168	$38,093	$259,261

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	$7,287,547	$5,890,464	$146,696,091	$1,397,083
2023	$6,569,294	$5,084,911	$150,494,702	$1,484,383
2022	$5,329,757	$4,723,368	$155,934,171	$606,389
2021	$4,814,892	$4,395,551	$146,891,829	$419,341
2020	$5,204,690	$4,327,171	$129,298,124	$877,519
2019	$5,582,382	$4,403,464	$109,294,719	$1,178,918
2018	$5,310,005	$5,433,118	$108,174,526	$-123,113