SPACE COAST 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

1951

Legal Domicile

Principal Officer

TIMOTHY M ANTONITION

Phone

3217522222

Tax Period

2023-01-01 to 2023-12-31

SPACE COAST CREDIT UNION, founded in 1951, is a major nonprofit that reported $440.8M in total revenue in fiscal year 2023. Revenue surged 42% from the prior year, signaling strong growth momentum. Expenses of $378.4M left a modest 14% surplus.

Mission

THE CREDIT UNION OPERATES AS A MEMBER-OWNED DEMOCRATICALLY CONTROLLED COOPERATIVE ORGANIZED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM AT REASONABLE RATES OF INTEREST.

Program Service Accomplishments

Program 1

DEPOSIT/SAVINGS PRODUCTS - THE CREDIT UNION PROMOTES THRIFT AND SAVINGS BY MAINTAINING A BROAD ARRAY OF DEPOSIT ACCOUNT PRODUCTS WITH LOW FEES AND HIGH INTEREST RATES.

Program 2

CONSUMER LOANS - THE CREDIT UNION CREATES LOW COST SOURCES OF CREDIT FOR THE PURPOSES OF OUR MEMBERS PURCHASING AUTOMOBILES AND OTHER RETAIL PRODUCTS AND SERVICES USED IN THEIR DAILY LIVES.

Program 3

REAL ESTATE LOANS - THE CREDIT UNION CREATES A LOW COST SOURCE OF CREDIT FOR THE PURPOSES OF OUR MEMBERS ATTAINING HOME OWNERSHIP.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $409,934,128

Investment Income $30,844,478

Other Revenue $20,400

TOTAL REVENUE $440,799,006

Expense Breakdown

Grants Paid $0

Salaries & Benefits $94,730,956

Fundraising Expenses $0

Other Expenses $283,671,116

TOTAL EXPENSES $378,402,072

Year-over-Year Comparison

	2023	2022	Change
Revenue	$440,799,006	$310,171,993	+0.4%
Expenses	$378,402,072	$246,128,433	+0.5%
Net Income	$62,396,934	$64,043,560	0.0%

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

1252

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

$3,882,554

Total Directors

Key Employees

$4,554,465

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE ROBBINS	DIRECTOR	3.00	Director	$0	$0	$0
WILLIE HOWARD JR	DIRECTOR	3.00	Director	$0	$0	$0
KAREN PALLADINO	DIRECTOR	3.00	Director	$0	$0	$0
JOHN G OERTEL	CHAIRPERSON	3.00	Officer Director	$0	$0	$0
DALE NEUBERT	DIRECTOR	3.00	Director	$0	$0	$0
THOMAS MYERS	VICE CHAIRPERSON	3.00	Officer Director	$0	$0	$0
DESMOND ALMARALES	TREASURER	3.00	Officer Director	$0	$0	$0
HERBERT FISHER	SECRETARY	3.00	Officer Director	$0	$0	$0
KEVIN R MCKEOWN	DIRECTOR	3.00	Director	$0	$0	$0
TIMOTHY M ANTONITION	PRESIDENT/CEO	50.00	Officer	$1,394,242	$86,815	$1,481,057
GARY PRAGER	SVP CHF STR&GWTH OFFICER	50.00	Officer	$469,532	$34,570	$504,102
LINDA HART	SVP, CHRO	50.00	Officer	$506,044	$49,451	$555,495
SHANE W HOYLE	SVP/COO	50.00	Officer	$471,514	$43,108	$514,622
CHAD C JAENKE	SVP, CIO	50.00	Officer	$493,805	$25,155	$518,960
ENGMAN GABRIEL I	SVP, CFO	50.00	Officer	$288,246	$20,072	$308,318
CHRISTOPHER MATTHEWS	SVP, CARD SERVICES	50.00	Key Emp	$397,279	$19,904	$417,183
CARMEN M TAPANES	VP RETAIL SERVICES	50.00	Key Emp	$301,749	$14,699	$316,448
GREGORY E DEROY	VP, MEMBER SVC CENTER	50.00	Key Emp	$358,907	$12,325	$371,232
KIMBERLY TYREE	VP CONSUMER SALES	50.00	Key Emp	$267,895	$28,428	$296,323
DANIEL CHIAPPONE	VP LENDING	50.00	Key Emp	$301,298	$28,103	$329,401
ANN M ROBERTS	VP PMNT/LOSS PREVENTION	50.00	Key Emp	$269,506	$45,690	$315,196
BEVERLY B SMITH	VP RETAIL SERVICES	50.00	Key Emp	$250,735	$45,467	$296,202
ANTHONY M BLUNT	VP CONSUMER SALES	50.00	Key Emp	$241,297	$44,370	$285,667
BRYANT DANIEL G	VP, MEMBER SERVICE CENTER	50.00	Key Emp	$203,949	$41,126	$245,075
CANNING DAVID	VP, OPERATIONAL EXCELLENC	50.00	Key Emp	$230,451	$29,085	$259,536
FREEMAN ERIN E	VP, OPERATIONS	50.00	Key Emp	$206,936	$41,579	$248,515
KINLEY-SMITH JODIE R	VP, PRODUCT LINE MANAGER	50.00	Key Emp	$170,785	$26,384	$197,169
MATTESON ALLISON L	VP, LEARNING/DEVELOPMENT	50.00	Key Emp	$241,938	$47,739	$289,677
SNEAD BENJAMIN T	VP, ENTERPRISE RISK MGMT	50.00	Key Emp	$241,219	$48,030	$289,249
WICKARD TODD A	VP, IT OPERATIONS	50.00	Key Emp	$371,478	$26,114	$397,592
PETER S FREYSTAETTER	EXPRESS MORT ORIGINATOR	40.00	Highest	$316,481	$17,097	$333,578
TOMAS D ZAPATA JR	EXPRESS MORT ORIGINATOR	40.00	Highest	$287,795	$1,152	$288,947
TINA L CLARK	EXPRESS MORT ORIGINATOR	40.00	Highest	$300,771	$50,470	$351,241
PERRY KANEESHA S	AVP, IT PROJECT DELIVERY	40.00	Highest	$213,556	$40,944	$254,500
KATZ MICHAEL	AVP, IT DEVELOPMENT	40.00	Highest	$205,198	$32,115	$237,313
HILARY EISBRENNER	EVP/CFO	50.00		$348,200	$24,839	$373,039
HEATHER E HICKMAN	EVP/CRO	50.00		$484,748	$39,690	$524,438

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	No data	No data	No data	No data
2023	$440,799,006	$378,402,072	$8,946,056,038	$62,396,934
2022	$310,171,993	$246,128,433	$8,543,983,797	$64,043,560
2021	$248,524,436	$178,388,814	$6,746,004,503	$70,135,622
2020	$246,524,634	$200,877,757	$5,959,003,296	$45,646,877
2019	$229,476,019	$171,645,297	$4,922,318,222	$57,830,722
2018	$226,920,394	$175,565,591	$4,142,519,910	$51,354,803