STATE CHARTERED CREDIT UNIONS IN FLORIDA

EIN: 590703071

BRANDON, FL

Total Revenue
$7,082,165
Total Expenses
$6,239,903
Total Assets
$132,175,767
Net Assets
$11,487,282
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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
1942
Legal Domicile
FL
Principal Officer
JOHN PURCELL
Phone
8136435572
Tax Period
2024-01-01 to 2024-12-31

STATE CHARTERED CREDIT UNIONS IN FLORIDA, founded in 1942, is a community nonprofit that reported $7.1M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $6.2M left a modest 12% surplus.

Mission

NONPROFIT COOPERATIVE TO PROMOTE FISCAL RESPONSIBILITY AMONG ITS MEMBERS AND TO PROVIDE REASONABLE LOAN RATES AND COMPETITIVE SAVING AND INVESTMENT RATES

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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 $3,897,549
Investment Income $1,585,978
Other Revenue $1,598,638
TOTAL REVENUE $7,082,165

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,127,662
Fundraising Expenses $0
Program Expenses $6,239,903
Other Expenses $2,640,425
TOTAL EXPENSES $6,239,903

Year-over-Year Comparison

2024 2023 Change
Revenue $7,082,165 $6,400,447 +0.1%
Expenses $6,239,903 $5,204,026 +0.2%
Net Income $842,262 $1,196,421 -0.3%
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
7
Independent Members
N/A
Employees
28
Volunteers
10

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
4
$559,526
Total Directors
7
$0
Key Employees
4
$559,526
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN PURCELL PRESIDENT/CEO 45
Officer Key Emp
$215,000 $0 $215,000
ELIZABETH CHAVEZ EVP 45
Officer Key Emp
$123,988 $0 $123,988
JUSTIN DESKINS VP OF MARKETING AND RETAIL 45
Officer Key Emp
$115,962 $0 $115,962
VICKIE CUTTING VP OF ACCOUNTING 45
Officer Key Emp
$104,576 $0 $104,576
NANCY MILLAN DIRECTOR 1
Director
$0 $0 $0
BONNIE WISE VICE CHAIRMAN 1
Director
$0 $0 $0
CHRIS BOLES CHAIRMAN OF BOARD 1
Director
$0 $0 $0
VEDA LANDERS TREASURER 1
Director
$0 $0 $0
MIKE WELLS DIRECTOR 1
Director
$0 $0 $0
CHRIS RULE DIRECTOR 1
Director
$0 $0 $0
NICHOLE ALVEREZ SOWLES DIRECTOR 1
Director
$0 $0 $0
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
2025 No data No data No data No data
2024 $7,082,165 $6,239,903 $132,175,767 $842,262
2023 $6,400,447 $5,204,026 $127,736,710 $1,196,421
2022 $4,771,477 $3,691,589 $126,812,335 $1,079,888
2021 $4,456,456 $3,814,049 $128,880,841 $642,407
2020 $4,547,118 $3,953,221 $114,435,733 $593,897
2019 $4,904,315 $3,849,037 $96,822,246 $1,055,278
2018 $4,684,653 $3,765,466 $92,201,701 $919,187
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