SOUTHEASTERN CREDIT UNION FOUNDATION

EIN: 592252733 501(c)(3)

TALLAHASSEE, FL

Total Revenue
$584,102
Total Expenses
$1,239,495
Total Assets
$4,491,985
Net Assets
$4,361,286
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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
1982
Legal Domicile
FL
Principal Officer
STEVE J SCHWARTZ
Phone
8662310545
Tax Period
2023-01-01 to 2023-12-31

SOUTHEASTERN CREDIT UNION FOUNDATION, founded in 1982, is a small nonprofit that reported $584K in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 112% operating deficit.

Mission

ADVANCE SCIENCE, EDUCATION, AND OTHER CONSUMER CREDIT CHARITABLE PURPOSES

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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 (2023)

Revenue Breakdown

Contributions & Grants $692,036
Program Service Revenue $0
Investment Income $171,050
Other Revenue $-278,984
TOTAL REVENUE $584,102

Expense Breakdown

Grants Paid $812,366
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,169,542
Other Expenses $427,129
TOTAL EXPENSES $1,239,495

Year-over-Year Comparison

2023 2022 Change
Revenue $584,102 $1,569,313 -0.6%
Expenses $1,239,495 $1,450,859 -0.1%
Net Income $-655,393 $118,454 -6.5%
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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Governance

Voting Members
10
Independent Members
9
Employees
N/A
Volunteers
30

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
11
$1,871,950
Total Directors
12
$1,186,130
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATRICK LAPINE CEO 1.00
Officer Director
$0 $495,683 $1,186,130
HANK HALTER CHAIR 1.00
Officer Director
$0 $0 $0
OLA ANISE VICE CHAIR (FROM 7/23) 1.00
Officer Director
$0 $0 $0
RICHARD SKAGGS CHAIR-ELECT 1.00
Officer Director
$0 $0 $0
BOB CLAMPETT SECRETARY (UNTIL 6/23) 1.00
Officer Director
$0 $0 $0
STEVE MOSELEY SECRETARY (FROM 7/23) 1.00
Officer Director
$0 $0 $0
TINA WILLIAMS TREASURER (UNTIL 6/23) 1.00
Officer Director
$0 $0 $0
BRIAN AKIN TREASURER (FROM 7/23) 1.00
Officer Director
$0 $0 $0
HENRY ARMSTRONG PAST CHAIR 1.00
Officer Director
$0 $0 $0
BRENT LISTER TRUSTEE 1.00
Director
$0 $0 $0
DEBBIE SMITH TRUSTEE 1.00
Director
$0 $0 $0
STEVE SWOFFORD TRUSTEE 1.00
Director
$0 $0 $0
SAMANTHA BEELER PRESIDENT LEAGUE 1.00
Officer
$0 $36,363 $309,161
DR WEN HEMINGWAY CFO 1.00
Officer
$0 $98,169 $376,659
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 $584,102 $1,239,495 $4,491,985 $-655,393
2022 $1,569,313 $1,450,859 $4,926,905 $118,454
2021 $1,190,369 $362,902 $4,857,599 $827,467
2020 $538,420 $656,294 $3,790,998 $-117,874
2019 $691,931 $637,915 $3,484,477 $54,016
2018 $1,213,594 $770,402 $3,180,166 $443,192
2017 $607,090 $311,841 $2,830,818 $295,249
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