STATE CHARTERED CREDIT UNIONS IN FLORIDA FLORIDA CENTRAL CREDIT UNION (EIN 590857430) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

THUY LINH N DANG

Phone

8138793333

Tax Period

2023-01-01 to 2023-12-31

STATE CHARTERED CREDIT UNIONS IN FLORIDA FLORIDA CENTRAL CREDIT UNION, founded in 1991, is a mid-sized nonprofit that reported $27.4M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $25.5M left a modest 7% surplus.

Mission

FLORIDACENTRAL CREDIT UNION IS A MEMBER OWNED COOPERATIVE DEDICATED TO PROMOTING THRIFT AND PROVIDING ITS MEMBERS WITH COMPETITIVELY PRICED, QUALITY FINANCIAL SERVICES WHILE MAINTAINING SERVICE IN A PROFESSIONAL, ACCURATE AND EFFICIENT MANNER TO ALL MEMBERS REGARDLESS OF SOCIO-ECONOMIC STATUS.

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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 $22,450,435

Investment Income $4,935,384

Other Revenue $0

TOTAL REVENUE $27,385,819

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,020,151

Fundraising Expenses $0

Other Expenses $15,513,662

TOTAL EXPENSES $25,533,813

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,385,819	$22,088,773	+0.2%
Expenses	$25,533,813	$19,819,876	+0.3%
Net Income	$1,852,006	$2,268,897	-0.2%

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

185

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

$913,390

Total Directors

$13,580

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH H SPENCE	DIRECTOR	1.00	Director	$3,395	$0	$3,395
STEPHEN SHEAR	SECRETARY	1.00	Director	$3,395	$0	$3,395
WILLIAM MIGNONE	CHAIRPERSON	1.00	Director	$3,395	$0	$3,395
DAVID STEFFEN	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET SPURRIER	VICE CHAIRPERSON	1.00	Director	$0	$0	$0
GARY VIEN	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE OSTERLAND	DIRECTOR	1.00	Director	$0	$0	$0
BRATON COLE	TREASURER	1.00	Director	$3,395	$0	$3,395
THUY LINH N DANG	PRESIDENT/CEO	40.00	Officer	$488,827	$19,547	$508,374
DEANNA KNIGHT	CFO	40.00	Officer	$67,612	$8,344	$75,956
MITCHELL SCOTT NEWBERGER	COO	40.00	Officer	$146,539	$22,689	$169,228
PAMELA WENDLAND	CHIEF CREDIT OFFICER	40.00	Officer	$148,529	$11,303	$159,832
PATRICIA WADDELL	IT MANAGER	40.00	Highest	$140,583	$19,710	$160,293
THOMAS CHESNUTT	DIRECTOR OF SALES	40.00	Highest	$150,262	$9,658	$159,920
CARLA GANT	VP HUMAN RESOURCES	40.00	Highest	$137,800	$49,523	$187,323
BRIAN ROBINSON	SVP/CMO	40.00	Highest	$172,899	$45,312	$218,211
DANIEL GEORGE	VP OF FINANCE	40.00	Highest	$107,998	$19,237	$127,235

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	$27,385,819	$25,533,813	$594,851,998	$1,852,006
2022	$22,088,773	$19,819,876	$591,612,328	$2,268,897
2021	$19,516,716	$19,696,004	$620,353,009	$-179,288
2020	$20,410,782	$20,746,977	$573,102,269	$-336,195
2019	$22,829,219	$23,254,955	$495,049,945	$-425,736
2018	$21,071,123	$19,952,284	$498,115,505	$1,118,839

STATE CHARTERED CREDIT UNIONS IN FLORIDA FLORIDA CENTRAL CREDIT UNION