Civic Intelligence

State Chartered Credit Unions in Florida

990 • Fiscal year 2014 • EIN 59-0626648

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 15, 2015

PO Box 4900Orlando, FL 32802-4900

(407) 659-2740

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$467,917,874

Up $4,053,478 (+0.9%) from 2013

Net Assets

Up

$61,851,831

Up $12,938,247 (+26%) from 2013

Liabilities

Down

$406,066,043

Down $8,884,769 (-2.1%) from 2013

Revenue And Expenses

Revenue

Down

$25,543,821

Down $1,863,295 (-6.8%) from 2013

Expenses

Down

$12,527,000

Down $11,602,604 (-48%) from 2013

Net Income

Up

$13,016,821

Up $9,739,309 (+297%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2010: $447,757,548Liabilities 2010: $404,537,213Net Assets 2010: $43,220,3352010Assets 2011: $435,531,196Liabilities 2011: $390,464,357Net Assets 2011: $45,066,8392011Assets 2012: $451,552,205Liabilities 2012: $402,717,190Net Assets 2012: $48,835,0152012Assets 2013: $463,864,396Liabilities 2013: $414,950,812Net Assets 2013: $48,913,5842013Assets 2014: $467,917,874Liabilities 2014: $406,066,043Net Assets 2014: $61,851,8312014Assets 2014: $504,908,663Liabilities 2014: $450,150,588Net Assets 2014: $54,758,0752014Assets 2015: $554,768,324Liabilities 2015: $502,819,889Net Assets 2015: $51,948,4352015Assets 2016: $562,292,468Liabilities 2016: $512,960,885Net Assets 2016: $49,331,5832016Assets 2017: $562,818,449Liabilities 2017: $511,978,290Net Assets 2017: $50,840,1592017Assets 2018: $551,216,747Liabilities 2018: $501,686,781Net Assets 2018: $49,529,9662018Assets 2019: $553,070,987Liabilities 2019: $497,674,344Net Assets 2019: $55,396,6432019Assets 2020: $623,371,735Liabilities 2020: $564,088,089Net Assets 2020: $59,283,6462020Assets 2021: $694,415,445Liabilities 2021: $640,815,995Net Assets 2021: $53,599,4502021Assets 2022: $687,612,427Liabilities 2022: $661,164,086Net Assets 2022: $26,448,3412022Assets 2023: $670,264,151Liabilities 2023: $643,454,702Net Assets 2023: $26,809,4492023Assets 2024: $685,975,667Liabilities 2024: $655,291,312Net Assets 2024: $30,684,3552024Assets 2025: $659,248,205Liabilities 2025: $620,092,955Net Assets 2025: $39,155,2502025

Highlighted filing

2014

Assets$467,917,874
Liabilities$406,066,043
Net Assets$61,851,831

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $32,199,3282010Expenses 2011: $28,498,6172011Expenses 2012: $24,710,2782012Revenue 2013: $27,407,116Expenses 2013: $24,129,604Net Income 2013: $3,277,5122013Revenue 2014: $25,543,821Expenses 2014: $12,527,000Net Income 2014: $13,016,8212014Revenue 2014: $27,253,516Expenses 2014: $23,852,127Net Income 2014: $3,401,3892014Revenue 2015: $27,467,779Expenses 2015: $29,955,150Net Income 2015: -$2,487,3712015Revenue 2016: $27,179,472Expenses 2016: $28,696,664Net Income 2016: -$1,517,1922016Revenue 2017: $27,839,144Expenses 2017: $27,119,570Net Income 2017: $719,5742017Revenue 2018: $27,874,314Expenses 2018: $27,739,674Net Income 2018: $134,6402018Revenue 2019: $27,530,703Expenses 2019: $24,750,028Net Income 2019: $2,780,6752019Revenue 2020: $25,976,857Expenses 2020: $23,698,386Net Income 2020: $2,278,4712020Revenue 2021: $22,918,572Expenses 2021: $20,852,595Net Income 2021: $2,065,9772021Revenue 2022: $24,146,976Expenses 2022: $20,369,837Net Income 2022: $3,777,1392022Revenue 2023: $31,327,804Expenses 2023: $28,712,884Net Income 2023: $2,614,9202023Revenue 2024: $36,815,869Expenses 2024: $33,025,125Net Income 2024: $3,790,7442024Revenue 2025: $33,176,746Expenses 2025: $33,837,460Net Income 2025: -$660,7142025

Highlighted filing

2014

Revenue$25,543,821
Expenses$12,527,000
Net Income$13,016,821
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 15, 2015
Return Version
2014v5.0
Gross Receipts
$25,543,821
Mission and Program Overview

Mission

Insight financial credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to member; at advantageous rates over those generally available from other banking sources.

Insight financial credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to member; at advantages rates over those generally available from other banking sources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$280,651,739$295,105,000▲ $14,453,261
Investments in Publicly Traded Securities$96,098,416$101,555,889▲ $5,457,473
Rtn Earn Endowment Incm Other Fnds$48,835,010$61,851,831▲ $13,016,821
Savings and Temporary Cash Investments$41,531,671$46,500,000▲ $4,968,329
Land, Buildings, and Equipment, Net$19,938,879$17,756,985▼ $2,181,894
Cash and Non-Interest-Bearing Accounts$5,856,695$7,000,000▲ $1,143,305
Total Assets$451,552,205$467,917,874▲ $16,365,669
Other Assets Total$7,474,805--
Liabilities
Other Liabilities$399,614,197$401,585,255▲ $1,971,058
Accounts Payable and Accrued Expenses$3,102,998$4,480,788▲ $1,377,790
Total Liabilities$402,717,195$406,066,043▲ $3,348,848
Net Assets / Fund Balance
Total Net Assets Fund Balance$48,835,010$61,851,831▲ $13,016,821
Total Liabilities and Net Assets / Fund Balance$451,552,205$467,917,874▲ $16,365,669

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,311,112$5,254,888$17,566,000
Land$5,445,873-$5,445,873
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles ArnettChairman
Jerry LockeFormer Chair
Jerry LockeFormer Chairman
Karen JohnsonDirector
Mark ZickefooseDirector
Norma HortonDirector
Susan StuckerDirector
A Floyd Bradley1st V.c.
Linda Short2nd V.c.
Kristy MoistCCO
George DavisCEO
Cindy MorganCFO
Stephen HoeltkeSecretary
Deborah CollinsSupervisory
Michele HoppenstedtSupervisory
Lauren JosephSVP Operatio
Danny GrantTreasurer
Todd MellenberndtVP Lending
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$25,543,821
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$13,016,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,525,000
Other Expenses$5,002,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$7,525,000
Other Expenses---$3,050,000
Occupancy---$1,952,000
Total Functional Expenses$0$0$0$12,527,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Share Accounts$401,585,255
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

Yes- the credit union's board of directors are elected by members.

Form 990, Page 6, Part VI, Line 7B

Yes, certain decisions would be approved by membership.

Form 990, Page 6, Part VI, Line 9

Jerry locke po box 4900 orlando, fl 32802

Form 990, Page 6, Part VI, Line 11B

Board of directors reviews form 990 at regularly scheduled meeting.

Form 990, Page 6, Part VI, Line 12C

Yes, a conflicts of interest policy is actively enforced.

Form 990, Page 6, Part VI, Line 15A

Compensation for ceo, directors, and top management officials is subject to review and approval by board of directors.

Form 990, Page 6, Part VI, Line 15B

Yes, other officers and key employees compensation is subject to review by ceo within guidelines approved by board of directors.

Form 990, Page 6, Part VI, Line 19

Bylaws and governing documents are made available to all members upon request. Financial information is available to the public from ncua.

Filing and Contact Details

Filer

Filer Name
Insight Credit Union
EIN
59-0626648
Phone
4076592740
Address
PO BOX 4900, ORLANDO, FL 32802-4900

Signing Officer

Name
Cindy Morgan
Title
CFO
Phone
4076592740
Signed
2015-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Davis
Formed
1935
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
195

Preparer

Firm
Schwartz Cole and Associates LLC
Address
11776 W SAMPLE RD STE 106, CORAL SPRINGS, FL 33065-3180
Preparer
Daniel J Cole
Phone
9547551760
Supplemental Narrative

Additional Explanations

Form 990

The credit union does offer discounted loans to employees. Upon completion an employees probationary 90 day period, they can receive a 1% discounted loan rate off of prevailing market interest rates on all mortgage and consumer loans. Upon termination/resignation the loan reverts to normal market rates without the discount.

Form 990, Part XI

The adjustment to net fixed assets was from fasb 115 adjustments to unrealized gains and losses of securities held by the credit union

Form 990, Part XI, Line 9

FASB 115 ADJSUTMENT 0

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReconcilationRevenueExpnssAmt013016821
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt048835010
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt061851831
IRS990/SavingsAndTempCashInvstGrp/BOYAmt041531671
IRS990/SavingsAndTempCashInvstGrp/EOYAmt046500000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt012311112
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05254888
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt017566000
IRS990ScheduleD/LandGrp/BookValueAmt05445873
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05445873
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0401585255
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARE ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017756985
IRS990ScheduleD/TotalLiabilityAmt0401585255
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JERRY LOCKE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0FORMER CHAIRMAN
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION DOES OFFER DISCOUNTED LOANS TO EMPLOYEES. UPON COMPLETION AN EMPLOYEES PROBATIONARY 90 DAY PERIOD, THEY CAN RECEIVE A 1% DISCOUNTED LOAN RATE OFF OF PREVAILING MARKET INTEREST RATES ON ALL MORTGAGE AND CONSUMER LOANS. UPON TERMINATION/RESIGNATION THE LOAN REVERTS TO NORMAL MARKET RATES WITHOUT THE DISCOUNT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES- THE CREDIT UNION'S BOARD OF DIRECTORS ARE ELECTED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES, CERTAIN DECISIONS WOULD BE APPROVED BY MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3JERRY LOCKE PO BOX 4900 ORLANDO, FL 32802
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS REVIEWS FORM 990 AT REGULARLY SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5YES, A CONFLICTS OF INTEREST POLICY IS ACTIVELY ENFORCED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION FOR CEO, DIRECTORS, AND TOP MANAGEMENT OFFICIALS IS SUBJECT TO REVIEW AND APPROVAL BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7YES, OTHER OFFICERS AND KEY EMPLOYEES COMPENSATION IS SUBJECT TO REVIEW BY CEO WITHIN GUIDELINES APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8BYLAWS AND GOVERNING DOCUMENTS ARE MADE AVAILABLE TO ALL MEMBERS UPON REQUEST. FINANCIAL INFORMATION IS AVAILABLE TO THE PUBLIC FROM NCUA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9THE ADJUSTMENT TO NET FIXED ASSETS WAS FROM FASB 115 ADJUSTMENTS TO UNREALIZED GAINS AND LOSSES OF SECURITIES HELD BY THE CREDIT UNION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10FASB 115 ADJSUTMENT 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PART XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0451552205
IRS990/TotalAssetsEOYAmt0467917874
IRS990/TotalAssetsGrp/BOYAmt0451552205
IRS990/TotalAssetsGrp/EOYAmt0467917874
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt0195
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt012527000
IRS990/TotalGrossUBIAmt043821
IRS990/TotalLiabilitiesBOYAmt0402717195
IRS990/TotalLiabilitiesEOYAmt0406066043
IRS990/TotalLiabilitiesGrp/BOYAmt0402717195
IRS990/TotalLiabilitiesGrp/EOYAmt0406066043
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt048835010
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt061851831
IRS990/TotalProgramServiceRevenueAmt025543821
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025500000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt025543821
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt043821
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0451552205
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0467917874
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 4900
IRS990/USAddress/CityNm0ORLANDO
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032802
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.INSIGHTFINANCIALCU.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CINDY MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04076592740
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INSIGHT CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0INSI
ReturnHeader/Filer/EIN0590626648
ReturnHeader/Filer/PhoneNum04076592740
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 4900
ReturnHeader/Filer/USAddress/CityNm0ORLANDO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0328024900
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261694946
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHWARTZ COLE AND ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011776 W SAMPLE RD STE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0330653180
ReturnHeader/PreparerPersonGrp/PhoneNum09547551760
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL J COLE
ReturnHeader/ReturnTs02015-11-16T21:38:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$659$620$39.2$33.2$33.8$0.66
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$686$655$30.7$36.8$33.0$3.79
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$670$643$26.8$31.3$28.7$2.61
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$688$661$26.4$24.1$20.4$3.78
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$694$641$53.6$22.9$20.9$2.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$623$564$59.3$26.0$23.7$2.28
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$553$498$55.4$27.5$24.8$2.78
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$551$502$49.5$27.9$27.7$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$563$512$50.8$27.8$27.1$0.72
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$562$513$49.3$27.2$28.7$1.52
2015Detailed filing. Detailed filing data is available for this year.$555$503$51.9$27.5$30.0$2.49
2014Detailed filing. Detailed filing data is available for this year.$505$450$54.8$27.3$23.9$3.40
2014Detailed filing. Detailed filing data is available for this year.$468$406$61.9$25.5$12.5$13.0
2013Detailed filing. Detailed filing data is available for this year.$464$415$48.9$27.4$24.1$3.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$452$403$48.8$24.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$436$390$45.1$28.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$448$405$43.2$32.2