Civic Intelligence

State Chartered Credit Unions in Florida

EIN 59-0703071 • 501(c)14 • Brandon, FL

Profile

A nonprofit cooperative to promote fiscal responsiblity among its members and to provide reasonable loan rates and competitive saving and investment rates

1225 Millennium ParkwayBrandon, FL 33511

fwccu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.91x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

17.04x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Net Margin

51st percentile

12%

Higher net margin than 51% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$215,000

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

501(c)14 • $100M-$250M nonprofits • Source year 2024

Asset Growth

56th percentile

3.5%

Faster asset growth than 56% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

11%

Faster revenue growth than 36% of similar nonprofits.

501(c)14 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$132,175,767

Up $4,439,057 (+3.5%) from 2023

Liabilities

Up

$120,688,485

Up $3,406,941 (+2.9%) from 2023

Net Assets

Up

$11,487,282

Up $1,032,116 (+9.9%) from 2023

Revenue

Up

$7,082,165

Up $681,718 (+11%) from 2023

Expenses

Up

$6,239,903

Up $1,035,877 (+20%) from 2023

Net Income

Down

$842,262

Down $354,159 (-30%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2010: $75,358,965Liabilities 2010: $69,257,038Net Assets 2010: $6,101,9272010Assets 2011: $78,881,948Liabilities 2011: $72,244,401Net Assets 2011: $6,637,5472011Assets 2012: $81,480,800Liabilities 2012: $73,795,479Net Assets 2012: $7,685,3212012Assets 2013: $82,520,092Liabilities 2013: $75,831,133Net Assets 2013: $6,688,9592013Assets 2014: $84,010,473Liabilities 2014: $75,873,408Net Assets 2014: $8,137,0652014Assets 2015: $88,340,837Liabilities 2015: $79,727,301Net Assets 2015: $8,613,5362015Assets 2016: $90,234,127Liabilities 2016: $81,323,070Net Assets 2016: $8,911,0572016Assets 2017: $93,291,476Liabilities 2017: $83,897,918Net Assets 2017: $9,393,5582017Assets 2018: $92,201,701Liabilities 2018: $82,012,312Net Assets 2018: $10,189,3892018Assets 2019: $96,822,246Liabilities 2019: $85,153,202Net Assets 2019: $11,669,0442019Assets 2020: $114,435,733Liabilities 2020: $101,940,754Net Assets 2020: $12,494,9792020Assets 2021: $128,880,841Liabilities 2021: $116,511,094Net Assets 2021: $12,369,7472021Assets 2022: $126,812,335Liabilities 2022: $118,470,029Net Assets 2022: $8,342,3062022Assets 2023: $127,736,710Liabilities 2023: $117,281,544Net Assets 2023: $10,455,1662023Assets 2024: $132,175,767Liabilities 2024: $120,688,485Net Assets 2024: $11,487,2822024

Highlighted filing

2024

Assets$132,175,767
Liabilities$120,688,485
Net Assets$11,487,282

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $3,708,6612010Expenses 2011: $3,244,3132011Revenue 2012: $3,788,773Expenses 2012: $3,093,035Net Income 2012: $695,7382012Revenue 2013: $3,665,871Expenses 2013: $3,185,456Net Income 2013: $480,4152013Revenue 2014: $3,670,139Expenses 2014: $3,171,704Net Income 2014: $498,4352014Revenue 2015: $3,718,621Expenses 2015: $3,226,156Net Income 2015: $492,4652015Revenue 2016: $3,905,422Expenses 2016: $3,493,444Net Income 2016: $411,9782016Revenue 2017: $4,081,159Expenses 2017: $3,558,910Net Income 2017: $522,2492017Revenue 2018: $4,684,653Expenses 2018: $3,765,466Net Income 2018: $919,1872018Revenue 2019: $4,904,315Expenses 2019: $3,849,037Net Income 2019: $1,055,2782019Revenue 2020: $4,547,118Expenses 2020: $3,953,221Net Income 2020: $593,8972020Revenue 2021: $4,456,456Expenses 2021: $3,814,049Net Income 2021: $642,4072021Revenue 2022: $4,771,477Expenses 2022: $3,691,589Net Income 2022: $1,079,8882022Revenue 2023: $6,400,447Expenses 2023: $5,204,026Net Income 2023: $1,196,4212023Revenue 2024: $7,082,165Expenses 2024: $6,239,903Net Income 2024: $842,2622024

Highlighted filing

2024

Revenue$7,082,165
Expenses$6,239,903
Net Income$842,262

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$132$121$11.5$7.08$6.24$0.84
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$128$117$10.5$6.40$5.20$1.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$127$118$8.34$4.77$3.69$1.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$129$117$12.4$4.46$3.81$0.64
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$102$12.5$4.55$3.95$0.59
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$96.8$85.2$11.7$4.90$3.85$1.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$92.2$82.0$10.2$4.68$3.77$0.92
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$93.3$83.9$9.39$4.08$3.56$0.52
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$90.2$81.3$8.91$3.91$3.49$0.41
2015Detailed filing. Detailed filing data is available for this year.$88.3$79.7$8.61$3.72$3.23$0.49
2014Detailed filing. Detailed filing data is available for this year.$84.0$75.9$8.14$3.67$3.17$0.50
2013Detailed filing. Detailed filing data is available for this year.$82.5$75.8$6.69$3.67$3.19$0.48
2012Summary only. Only limited summary data is available for this year.$81.5$73.8$7.69$3.79$3.09$0.70
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.9$72.2$6.64$3.24
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$75.4$69.3$6.10$3.71
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 4, 2022
Return Version
2021v4.0
Gross Receipts
$4,456,456
Mission and Program Overview

Mission

A nonprofit cooperative to promote fiscal responsiblity among its members and to provide reasonable loan rates and competitive saving and investment rates

Nonprofit cooperative to promote fiscal responsibility among its members and to provide reasonable loan rates and competitive saving and investment rates

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$47,391,973$51,786,533▲ $4,394,560
Investments Program Related$36,591,932$50,373,858▲ $13,781,926
Savings and Temporary Cash Investments$26,103,152$22,284,936▼ $3,818,216
Rtn Earn Endowment Incm Other Fnds$12,494,979$12,369,747▼ $125,232
Cash and Non-Interest-Bearing Accounts$1,092,510$1,371,924▲ $279,414
Land, Buildings, and Equipment, Net$1,084,435$1,010,144▼ $74,291
Receivables From Officers Etc$566,379$504,215▼ $62,164
Prepaid Expenses and Deferred Charges$226,630$194,314▼ $32,316
Accounts Receivable$70,321$21,117▼ $49,204
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$114,435,733$128,880,841▲ $14,445,108
Other Assets Total$1,308,401$1,333,800▲ $25,399
Liabilities
Other Liabilities$100,338,915$114,890,698▲ $14,551,783
Accounts Payable and Accrued Expenses$1,601,839$1,620,396▲ $18,557
Total Liabilities$101,940,754$116,511,094▲ $14,570,340
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,494,979$12,369,747▼ $125,232
Total Liabilities and Net Assets / Fund Balance$114,435,733$128,880,841▲ $14,445,108

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$891,263--
Buildings$402,969$598,910$0
Other Land Buildings$19,500$19,500$0
Land$465,000-$0
Equipment$122,238$656,918$0
Leasehold Improvements$437$323,458$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary Ott WoodPresident/CEOFT$218,299$27,857$246,156
Elizabeth ChavezEvpFT$107,423-$107,423
Vickie CuttingVP of AccountingFT$87,414-$87,414
Edward HampVP of Operations and MarketingFT$79,304-$79,304

Board Members and Trustees

NameTitle
Nancy MillanChairman of Board
Bonnie WiseVice Chairman
Donna LusczynskiDirector
Manny LongDirector
Mike WellsDirector
Veda LandersDirector
Chris BolesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,255,692
Investment Income
$672,734
Other Revenue
$1,528,030
All Other Contributions
$0
Change in Net Assets
$642,407

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,456,456
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$4,456,456
Total Revenue per Form 990
$4,456,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,818,074
Other Expenses$1,749,415
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$781,009$0$0$781,009
Other Expenses$752,646$0$0$752,646
Office Expenses$580,385$0$0$580,385
Current Officers, Directors, Trustees, and Key Employees$520,297$0$0$520,297
Other Employee Benefits$453,753$0$0$453,753
Benefits to Members$246,560--$246,560
Occupancy$210,309$0$0$210,309
Pension Plan Contributions$63,015$0$0$63,015
All Other Expenses$59,595$0$0$59,595
Travel$22,615$0$0$22,615
Total Functional Expenses$3,814,049$0$0$3,814,049

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,814,049
Total Expenses per Audited Statements$3,814,049
Total Expenses per Form 990$3,814,049
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$566,379$504,215▼ $62,164
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$114,890,698
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Each member purchases a share in the credit union which includes ownership in the co operative and voting rights at the annual meeting

Form 990, Part VI, Section A, Line 7A

At the annual meeting held by the credit union, members utilizing their voting rights elect and re-elect the board of directors, there is a nomination process held prior to this where notices are posted to the membership

Form 990, Part VI, Section B, Line 11B

Information is input by the vp of accounting and reviewed by the president/ceo and then submitted

Form 990, Part VI, Section B, Line 12C

Any direct or indirect conflict of interest between an employee and the credit union is prohibited. Florida west coast credit union updates the policy annually and monitors it continuously

Form 990, Part VI, Section B, Line 15

Compensation survey is completed by a third party vendor on a bi-annual basis

Form 990, Part VI, Section C, Line 18

Tax returns are available for review upon request

Form 990, Part VI, Section C, Line 19

Additional forms to include policies, our charter, by laws and additional documents are also available for review if requested

Filing and Contact Details

Filer

Filer Name
State Chartered Credit Unions in Florida
EIN
59-0703071
Phone
8136435572
Address
1225 MILLENNIUM PARKWAY, BRANDON, FL 33511

Signing Officer

Name
Mary Wood
Title
President/CEO
Phone
8136435572
Signed
2022-05-04

Organization Details

Principal Officer
Mary Ott Wood
Formed
1942
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
0
Employees
38
Volunteers
10
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Figure from previous unrealized gains and losses

Raw XML AppendixShowing 400 of 764 raw XML fields

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

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsReceivableGrp/EOYAmt021117
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0NONPROFIT COOPERATIVE TO PROMOTE FISCAL RESPONSIBILITY AMONG ITS MEMBERS AND TO PROVIDE REASONABLE LOAN RATES AND COMPETITIVE SAVING AND INVESTMENT RATES
IRS990/AdvertisingGrp/FundraisingAmt00
IRS990/AdvertisingGrp/ManagementAndGeneralAmt00
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IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherContributionsAmt00
IRS990/AllOtherExpensesGrp/FundraisingAmt00
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IRS990/AllOtherExpensesGrp/ProgramServicesAmt059595
IRS990/AllOtherExpensesGrp/TotalAmt059595
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IRS990/BenefitsToMembersGrp/ProgramServicesAmt0246560
IRS990/BenefitsToMembersGrp/TotalAmt0246560
IRS990/BooksInCareOfDetail/PersonNm0VICKIE CUTTING
IRS990/BooksInCareOfDetail/PhoneNum08136435572
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01225 MILLENNIUM PARKWAY
IRS990/BooksInCareOfDetail/USAddress/CityNm0BRANDON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0FL
IRS990/BooksInCareOfDetail/USAddress/ZIPCd033511
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IRS990/CashNonInterestBearingGrp/BOYAmt01092510
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IRS990/ChangeToOrgDocumentsInd00
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IRS990/CompDisqualPersonsGrp/ProgramServicesAmt0781009
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IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
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IRS990/CreditCounselingInd00
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IRS990/CYGrantsAndSimilarPaidAmt00
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IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04456456
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IRS990/Desc0CREDIT UNION
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IRS990/FeesForServicesLegalGrp/TotalAmt00
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IRS990/ForeignOfficeInd00
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IRS990/Form990PartVIISectionAGrp/KeyEmployeeInd2X
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IRS990/Form990PartVIISectionAGrp/OfficerInd0X
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IRS990/Form990PartVIISectionAGrp/OfficerInd3X
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IRS990/Form990PartVIISectionAGrp/PersonNm0MARY OTT WOOD
IRS990/Form990PartVIISectionAGrp/PersonNm1ELIZABETH CHAVEZ
IRS990/Form990PartVIISectionAGrp/PersonNm2VICKIE CUTTING
IRS990/Form990PartVIISectionAGrp/PersonNm3EDWARD HAMP
IRS990/Form990PartVIISectionAGrp/PersonNm4NANCY MILLAN
IRS990/Form990PartVIISectionAGrp/PersonNm5BONNIE WISE
IRS990/Form990PartVIISectionAGrp/PersonNm6CHRIS BOLES
IRS990/Form990PartVIISectionAGrp/PersonNm7VEDA LANDERS
IRS990/Form990PartVIISectionAGrp/PersonNm8DONNA LUSCZYNSKI
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IRS990/Form990PartVIISectionAGrp/PersonNm10MANNY LONG
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