Civic Intelligence

State Chartered Credit Unions in Florida

EIN 59-0705380 • 501(c)14 • Jacksonville, FL

Profile

First florida credit union is dedicated to delivering financial solutions to enrich members' lives.

500 West 1st StreetJacksonville, FL 32202

www.firstflorida.org

Siviq Scores

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

Liabilities / Assets

31st percentile

0.90x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

74th percentile

16.78x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

33rd percentile

6.5%

Higher net margin than 33% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

47th percentile

$1,021,720

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)14 • $1B+ nonprofits • Source year 2024

Asset Growth

39th percentile

1.5%

Faster asset growth than 39% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

39th percentile

14%

Faster revenue growth than 39% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,382,448,900

Up $20,422,490 (+1.5%) from 2023

Liabilities

Up

$1,240,348,815

Up $11,870,096 (+1.0%) from 2023

Net Assets

Up

$142,100,085

Up $8,552,394 (+6.4%) from 2023

Revenue

Up

$73,919,519

Up $8,958,159 (+14%) from 2023

Expenses

Up

$69,109,978

Up $11,524,099 (+20%) from 2023

Net Income

Down

$4,809,541

Down $2,565,940 (-35%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5B$1.0B$500M$0Assets 2010: $366,073,867Liabilities 2010: $316,977,483Net Assets 2010: $49,096,3842010Assets 2011: $390,125,702Liabilities 2011: $337,677,512Net Assets 2011: $52,448,1902011Assets 2012: $401,167,408Liabilities 2012: $347,775,170Net Assets 2012: $53,392,2382012Assets 2013: $408,006,472Liabilities 2013: $355,745,676Net Assets 2013: $52,260,7962013Assets 2014: $705,627,693Liabilities 2014: $582,025,535Net Assets 2014: $123,602,1582014Assets 2015: $716,883,363Liabilities 2015: $592,050,392Net Assets 2015: $124,832,9712015Assets 2016: $811,515,799Liabilities 2016: $683,377,733Net Assets 2016: $128,138,0662016Assets 2017: $870,503,263Liabilities 2017: $735,623,561Net Assets 2017: $134,879,7022017Assets 2018: $930,360,155Liabilities 2018: $793,059,919Net Assets 2018: $137,300,2362018Assets 2019: $1,055,950,421Liabilities 2019: $904,388,960Net Assets 2019: $151,561,4612019Assets 2020: $1,233,287,162Liabilities 2020: $1,073,464,621Net Assets 2020: $159,822,5412020Assets 2021: $1,319,070,045Liabilities 2021: $1,159,831,892Net Assets 2021: $159,238,1532021Assets 2022: $1,386,119,924Liabilities 2022: $1,256,738,182Net Assets 2022: $129,381,7422022Assets 2023: $1,362,026,410Liabilities 2023: $1,228,478,719Net Assets 2023: $133,547,6912023Assets 2024: $1,382,448,900Liabilities 2024: $1,240,348,815Net Assets 2024: $142,100,0852024

Highlighted filing

2024

Assets$1,382,448,900
Liabilities$1,240,348,815
Net Assets$142,100,085

Operations Trend

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

$80M$60M$40M$20M$0Expenses 2010: $18,169,3082010Expenses 2011: $17,533,1532011Expenses 2012: $16,801,8702012Revenue 2013: $19,345,001Expenses 2013: $16,261,693Net Income 2013: $3,083,3082013Revenue 2014: $35,881,080Expenses 2014: $21,184,432Net Income 2014: $14,696,6482014Revenue 2015: $27,955,266Expenses 2015: $24,821,322Net Income 2015: $3,133,9442015Revenue 2016: $31,736,970Expenses 2016: $26,449,890Net Income 2016: $5,287,0802016Revenue 2017: $34,464,162Expenses 2017: $28,676,487Net Income 2017: $5,787,6752017Revenue 2018: $40,075,459Expenses 2018: $33,742,302Net Income 2018: $6,333,1572018Revenue 2019: $45,405,397Expenses 2019: $39,429,693Net Income 2019: $5,975,7042019Revenue 2020: $42,935,650Expenses 2020: $39,750,674Net Income 2020: $3,184,9762020Revenue 2021: $41,838,326Expenses 2021: $35,911,812Net Income 2021: $5,926,5142021Revenue 2022: $48,027,529Expenses 2022: $40,848,476Net Income 2022: $7,179,0532022Revenue 2023: $64,961,360Expenses 2023: $57,585,879Net Income 2023: $7,375,4812023Revenue 2024: $73,919,519Expenses 2024: $69,109,978Net Income 2024: $4,809,5412024

Highlighted filing

2024

Revenue$73,919,519
Expenses$69,109,978
Net Income$4,809,541

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,382$1,240$142$73.9$69.1$4.81
2023Summary only. Only limited summary data is available for this year.$1,362$1,228$134$65.0$57.6$7.38
2022Summary only. Only limited summary data is available for this year.$1,386$1,257$129$48.0$40.8$7.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,319$1,160$159$41.8$35.9$5.93
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,233$1,073$160$42.9$39.8$3.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1,056$904$152$45.4$39.4$5.98
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$930$793$137$40.1$33.7$6.33
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$871$736$135$34.5$28.7$5.79
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$812$683$128$31.7$26.4$5.29
2015Detailed filing. Detailed filing data is available for this year.$717$592$125$28.0$24.8$3.13
2014Detailed filing. Detailed filing data is available for this year.$706$582$124$35.9$21.2$14.7
2013Detailed filing. Detailed filing data is available for this year.$408$356$52.3$19.3$16.3$3.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$401$348$53.4$16.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$390$338$52.4$17.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$366$317$49.1$18.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 6, 2025
Return Version
2024v5.2
Gross Receipts
$73,983,774
Mission and Program Overview

Mission

First Florida Credit Union's mission is to deliver financial solutions that will enrich members' lives.

First florida credit union is dedicated to delivering financial solutions to enrich members' lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$876,515,610$947,536,013▲ $71,020,403
Investments in Publicly Traded Securities$329,557,431$282,808,775▼ $46,748,656
Rtn Earn Endowment Incm Other Fnds$133,547,691$142,100,085▲ $8,552,394
Savings and Temporary Cash Investments$78,000,656$68,383,774▼ $9,616,882
Land, Buildings, and Equipment, Net$29,778,942$32,329,994▲ $2,551,052
Accounts Receivable$12,716,438$14,974,157▲ $2,257,719
Investments Other Securities$8,095,300$8,553,500▲ $458,200
Receivables From Officers Etc$3,900,000$3,900,000→ $0
Cash and Non-Interest-Bearing Accounts$4,059,750$3,747,342▼ $312,408
Prepaid Expenses and Deferred Charges$2,521,444$2,486,625▼ $34,819
Intangible Assets$285,430--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,362,026,410$1,382,448,900▲ $20,422,490
Other Assets Total$16,595,409$17,728,720▲ $1,133,311
Liabilities
Other Liabilities$1,064,816,287$1,067,581,260▲ $2,764,973
Mortgage Notes Payable Secured by Investment Property$150,000,000$160,000,000▲ $10,000,000
Accounts Payable and Accrued Expenses$13,662,432$12,767,555▼ $894,877
Total Liabilities$1,228,478,719$1,240,348,815▲ $11,870,096
Net Assets / Fund Balance
Total Net Assets Fund Balance$133,547,691$142,100,085▲ $8,552,394
Total Liabilities and Net Assets / Fund Balance$1,362,026,410$1,382,448,900▲ $20,422,490

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,627,324$8,852,756$28,480,080
Land$10,775,651-$10,775,651
Equipment$1,815,877$7,754,674$9,570,551
Leasehold Improvements$111,142$28,250$139,392
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brent ListerPresident/CEOFT$649,978$371,742$1,021,720
Joseph CarpenterChief Operating OfficerFT$299,164$150,139$449,303
Bradley a LongEvp/chief Financial OfficerFT$299,529$143,368$442,897
Christian BarnettManaging Director FfisFT$249,199$71,793$320,992
Timothy BrownChief Technology OfficerFT$172,792$88,815$261,607
Richard MarkleyChief Retail OfficerFT$174,432$81,180$255,612
Angela GarmanChief Strategy OfficerFT$166,625$72,596$239,221
Michelle TrohaChief Marketing OfficerFT$163,844$74,705$238,549
Andrea HurleyChief Risk OfficerFT$157,250$80,629$237,879
Edward RushVP Business ServicesFT$130,146$81,045$211,191
William TurpinVP Branch Operations IiFT$132,529$66,754$199,283
Nicanor DelacruzVP LendingFT$141,747$49,597$191,344
Frank NorganVP Information SecurityFT$136,875$43,934$180,809

Board Members and Trustees

NameTitle
Dean WillisChairperson
Cornita RileyVice Chairperson
Jennifer MartinAssociate Director
Johnny Bowman JrAssociate Director
Ken JonesDirector
Kyle PetersDirector
Nancy H MeierDirector
Sandra MagyarSecretary
Jonathan R LyonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Alkami TechnologyData ProcessorPO BOX 122223 DEPT 2223, Dallas, TX 75312$748,484
CardtronicsAtm MachinePO BOX 7411058, Chicago, IL 60674$577,980
Jack Henry And Associates INCData ProcessingPO BOX 609, Monett, MO 65708$562,048
LendkeyLending Origination Fees104 W/ 27TH ST 4TH FLOOR, New York, NY 10001$456,431
At&tData/phone LinesPO BOX 5076, Carol Stream, IL 60197$450,287
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$62,948,000
Investment Income
$10,488,855
Other Revenue
$482,664
Change in Net Assets
$4,809,541

Audited Revenue Reconciliation

Revenue per Audited Statements
$73,919,519
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$33,721
Total Revenue per Audited Statements
$73,953,240
Total Revenue per Form 990
$73,919,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,561,530
Salaries, Compensation, and Employee Benefits$21,548,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$22,419,710
Other Salaries and Wages---$10,166,569
Other Employee Benefits---$5,858,911
Current Officers, Directors, Trustees, and Key Employees---$3,397,486
Information Technology---$3,282,795
Occupancy---$2,135,432
Depreciation Depletion---$1,586,811
Office Expenses---$1,520,310
Advertising---$1,251,382
Payroll Taxes---$1,153,480
Pension Plan Contributions---$972,002
Other Expenses---$912,723
Insurance---$302,949
Fees for Services Accounting---$234,720
Conferences and Meetings---$108,974
Travel---$75,837
All Other Expenses---$74,831
Fees for Services Legal---$74,056
Fees for Services Management---$19,571
Total Functional Expenses$0$0$0$69,109,978

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$69,143,699
Total Expenses per Audited Statements$69,143,699
Total Expenses per Form 990$69,109,978
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-33,721
Other Expense Adjustments$-33,721
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$3,900,000$3,900,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$1,067,581,260
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

First florida credit union has members. A $5.00 share deposit is required for membership.

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

First florida credit union has a board of directors election by ballot held every year. Each primary member of the credit union receives a ballot for the purpose of electing one or more members for the position of director of the board.

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

The credit union field of membership has authority to elect and re-elect the board of directors every three years.

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

Form 990 is reviewed by a member of the credit union management team (evp/chief financial officer) before it is filed. It is not presented to the board of directors for review before filing.

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

The policies of first florida credit union are reviewed on an annual basis. Each employee receives a copy of the policy manual upon being hired at first florida credit union. The policy states that all employees and officials must disclose any possible conflicts (when the possible conflict arises) so that the credit union may assess and prevent potential conflicts of interest from arising. Any change in the policies are communicated to the employees verbally and updates are received in hard copy form as well.

Form 990, Part VI, Section B, Line 15

First florida credit union's board of directors has an administrative committee that reviews the salaries of all credit union employees on an annual basis. Internally, the hr department reviews and researches all salary ranges for each employee job title annually. A third party research firm is contacted for comparable region and job title data.

Form 990, Part VI, Section C, Line 19

First florida credit union makes its governing documents, conflict of interst policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
State Chartered Credit Unions in Florida
EIN
59-0705380
Phone
9043596800
Address
500 WEST 1ST STREET, JACKSONVILLE, FL 32202
Doing Business As
First Florida Credit Union

Signing Officer

Name
Bradley a Long
Title
Evp/chief Financial Officer
Phone
8007664328
Signed
2025-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brent E Lister
Formed
1950
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
9
Employees
257
Volunteers
9

Preparer

Firm
Doeren Mayhew
Address
8785 SW 165TH AVENUE SUITE 303, MIAMI, FL 33193
Preparer
Aubrey Clegg
Phone
3052328272
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

STAFF MANAGEMENT 74,831.

FORM 990, PART XII, LINE 2C:

The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from previous years.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt from most federal, state, and local income taxes under the provisions of the internal revenue code (irc) and state tax laws. However, irc section 511 imposes a tax on the unrelated business income derived by state-chartered credit unions. Generally, these taxes are insignificant to the credit union.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses reported net of rental revenue in the statement of revenue of form 990 but reported as a component of expenses within the audited financials 33,721.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses reported net of rental revenue in the statement of revenue of form 990 but reported as a component of expenses within the audited financials -33,721.

Raw XML AppendixShowing 400 of 769 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/ActivitiesConductedPrtshpInd00
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IRS990/BooksInCareOfDetail/USAddress/CityNm0JACKSONVILLE
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IRS990/CollectionsOfArtInd00
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IRS990/CompensationProcessOtherInd01
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IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0748484
IRS990/ContractorCompensationGrp/CompensationAmt1577980
IRS990/ContractorCompensationGrp/CompensationAmt2562048
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IRS990/ContractorCompensationGrp/ServicesDesc4DATA/PHONE LINES
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IRS990/DescribedInSection501c3Ind00
IRS990/DisregardedEntityInd00
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IRS990/DonorAdvisedFundInd00
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IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt0257
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
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IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
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