Civic Intelligence

State Chartered Credit Unions in Florida

990 • Fiscal year 2017 • EIN 59-1262972

Jan 01, 2017 to Dec 31, 2017 • Filed on May 10, 2018

Organization ProfileWWW.POWERNETCU.ORG

View Organization Page

5619 Harney RoadTampa, FL 33610-7115

(813) 621-6454

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.91x

Higher debt load relative to assets than 84% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

28.55x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Net Margin

41st percentile

7.8%

Higher net margin than 41% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

28th percentile

$116,075

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2017

Asset Growth

86th percentile

7.3%

Faster asset growth than 86% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

25th percentile

2.0%

Faster revenue growth than 25% of similar nonprofits.

2017 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$87,304,446

Up $5,974,064 (+7.3%) from 2016

Net Assets

Up

$7,520,501

Up $216,747 (+3.0%) from 2016

Liabilities

Up

$79,783,945

Up $5,757,317 (+7.8%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin41st percentile

Revenue

Up

$2,794,734

Up $55,818 (+2.0%) from 2016

Expenses

Down

$2,577,987

Down $41,546 (-1.6%) from 2016

Net Income

Up

$216,747

Up $97,364 (+82%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$150M$100M$50M$0Assets 2010: $71,399,930Liabilities 2010: $65,401,853Net Assets 2010: $5,998,0772010Assets 2011: $72,207,620Liabilities 2011: $66,180,170Net Assets 2011: $6,027,4502011Assets 2012: $71,404,206Liabilities 2012: $65,192,952Net Assets 2012: $6,211,2542012Assets 2013: $71,665,974Liabilities 2013: $64,954,474Net Assets 2013: $6,711,5002013Assets 2014: $73,802,500Liabilities 2014: $66,751,596Net Assets 2014: $7,050,9042014Assets 2015: $75,891,351Liabilities 2015: $68,706,980Net Assets 2015: $7,184,3712015Assets 2016: $81,330,382Liabilities 2016: $74,026,628Net Assets 2016: $7,303,7542016Assets 2017: $87,304,446Liabilities 2017: $79,783,945Net Assets 2017: $7,520,5012017Assets 2018: $86,057,280Liabilities 2018: $78,112,650Net Assets 2018: $7,944,6302018Assets 2019: $88,500,251Liabilities 2019: $80,068,304Net Assets 2019: $8,431,9472019Assets 2020: $101,520,980Liabilities 2020: $92,827,225Net Assets 2020: $8,693,7552020Assets 2021: $109,750,634Liabilities 2021: $100,631,145Net Assets 2021: $9,119,4892021Assets 2022: $111,946,300Liabilities 2022: $102,408,790Net Assets 2022: $9,537,5102022Assets 2023: $111,111,713Liabilities 2023: $101,032,890Net Assets 2023: $10,078,8232023Assets 2024: $112,681,863Liabilities 2024: $102,108,137Net Assets 2024: $10,573,7262024

Highlighted filing

2017

Assets$87,304,446
Liabilities$79,783,945
Net Assets$7,520,501
Open 2017 Filing

Operations Trend

Revenue Growth25th percentile

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

$6.0M$4.0M$2.0M$0Expenses 2010: $3,634,6022010Expenses 2011: $3,004,2092011Expenses 2012: $2,711,3972012Revenue 2013: $2,851,665Expenses 2013: $2,351,419Net Income 2013: $500,2462013Revenue 2014: $2,779,372Expenses 2014: $2,439,968Net Income 2014: $339,4042014Revenue 2015: $2,745,976Expenses 2015: $2,612,509Net Income 2015: $133,4672015Revenue 2016: $2,738,916Expenses 2016: $2,619,533Net Income 2016: $119,3832016Revenue 2017: $2,794,734Expenses 2017: $2,577,987Net Income 2017: $216,7472017Revenue 2018: $3,024,245Expenses 2018: $2,600,116Net Income 2018: $424,1292018Revenue 2019: $3,219,133Expenses 2019: $2,731,816Net Income 2019: $487,3172019Revenue 2020: $2,935,101Expenses 2020: $2,673,293Net Income 2020: $261,8082020Revenue 2021: $2,516,978Expenses 2021: $2,091,244Net Income 2021: $425,7342021Revenue 2022: $2,892,898Expenses 2022: $2,474,877Net Income 2022: $418,0212022Revenue 2023: $3,849,288Expenses 2023: $3,242,112Net Income 2023: $607,1762023Revenue 2024: $4,520,694Expenses 2024: $4,025,791Net Income 2024: $494,9032024

Highlighted filing

2017

Revenue$2,794,734
Expenses$2,577,987
Net Income$216,747
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 10, 2018
Return Version
2017v2.3
Gross Receipts
$2,794,734
Mission and Program Overview

Mission

Programs of credit unions offering personal financial services exclusively to the members

Credit union - provide programs which offer a wide variety of financial services exclusively to the members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$42,139,813$41,469,053▼ $670,760
Investments in Publicly Traded Securities$26,917,372$24,515,505▼ $2,401,867
Savings and Temporary Cash Investments$8,402,290$16,997,834▲ $8,595,544
Rtn Earn Endowment Incm Other Fnds$7,303,754$7,520,501▲ $216,747
Investments Program Related$1,364,801$1,683,498▲ $318,697
Land, Buildings, and Equipment, Net$1,544,612$1,483,814▼ $60,798
Cash and Non-Interest-Bearing Accounts$531,010$578,434▲ $47,424
Accounts Receivable$217,192$274,322▲ $57,130
Prepaid Expenses and Deferred Charges$127,057$191,097▲ $64,040
Total Assets$81,330,382$87,304,446▲ $5,974,064
Other Assets Total$86,235$110,889▲ $24,654
Liabilities
Other Liabilities$73,667,654$79,379,931▲ $5,712,277
Accounts Payable and Accrued Expenses$358,974$404,014▲ $45,040
Total Liabilities$74,026,628$79,783,945▲ $5,757,317
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,303,754$7,520,501▲ $216,747
Total Liabilities and Net Assets / Fund Balance$81,330,382$87,304,446▲ $5,974,064

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,241,645$891,499$2,133,144
Equipment$18,285$540,059$558,344
Land$223,884-$223,884
Leasehold Improvements-$86,130$86,130
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Donald A PrueCEOFT$116,075$116,075

Board Members and Trustees

NameTitle
Johnathon DehmelDirector
R Ronald AndersonDirector
Shawn MacConnellDirector
Shawn McDonnellDirector
William NolanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,305,247
Investment Income
$489,487
Other Revenue
$0
Change in Net Assets
$216,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,385,711
Salaries, Compensation, and Employee Benefits$1,192,276
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$730,203--$730,203
Office Expenses$424,291--$424,291
Interest$377,455--$377,455
Fees for Services Accounting$235,956--$235,956
Other Employee Benefits$212,328--$212,328
Current Officers, Directors, Trustees, and Key Employees$116,075--$116,075
Depreciation Depletion$80,413--$80,413
Payroll Taxes$66,904--$66,904
Pension Plan Contributions$66,766--$66,766
Other Expenses$54,000--$54,000
Insurance$48,639--$48,639
Advertising$35,634--$35,634
Fees for Services Other$30,033--$30,033
Occupancy$28,700--$28,700
Fees for Services Legal$8,999--$8,999
Travel$8,439--$8,439
Conferences and Meetings$7,786--$7,786
All Other Expenses$4,809--$4,809
Total Functional Expenses$2,577,987$0$0$2,577,987
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
Federal income taxes$79,379,931
Member Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
Management duties delegated
No

Governance Explanations

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

“Employees are restricted from processing transactions on their own behalf or for a family member. There are regular reviews of the activity in the accounts of volunteers and employees.”

Form 990, Part VI, Section B, Line 15A

“Credit union industry salary surveys are used as a guide by the board to set salaries”

Form 990, Part VI, Section C, Line 19

“Financial statements are posted in the lobby and other items that are required to be disclosed are available upon request”

Filing and Contact Details

Filer

Filer Name
State Chartered Credit Unions in Fl
EIN
59-1262972
Phone
8136216454
Address
5619 HARNEY ROAD, TAMPA, FL 33610-7115
Doing Business As
Powernet Credit Union

Signing Officer

Name
Rick Walker
Title
CFO
Signed
2018-05-10
Discuss with paid preparer
Yes

Organization Details

Formed
1961
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
20
Volunteers
8

Preparer

Firm
Ewart & Associates LLC
Address
7480 FAIRWAY DR 207, MIAMI LAKES, FL 33014
Preparer
Richard T Ewart CPA
Phone
3055574683
Raw XML Appendix368 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.

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IRS990/ReconcilationRevenueExpnssAmt0216747
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02794734
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07303754
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt07520501
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08402290
IRS990/SavingsAndTempCashInvstGrp/EOYAmt016997834
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01241645
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0891499
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02133144
IRS990ScheduleD/EquipmentGrp/BookValueAmt018285
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0540059
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0558344
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0223884
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0223884
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt086130
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt086130
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt079379931
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MEMBER DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01483814
IRS990ScheduleD/TotalLiabilityAmt079379931
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EMPLOYEES ARE RESTRICTED FROM PROCESSING TRANSACTIONS ON THEIR OWN BEHALF OR FOR A FAMILY MEMBER. THERE ARE REGULAR REVIEWS OF THE ACTIVITY IN THE ACCOUNTS OF VOLUNTEERS AND EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CREDIT UNION INDUSTRY SALARY SURVEYS ARE USED AS A GUIDE BY THE BOARD TO SET SALARIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY AND OTHER ITEMS THAT ARE REQUIRED TO BE DISCLOSED ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt081330382
IRS990/TotalAssetsEOYAmt087304446
IRS990/TotalAssetsGrp/BOYAmt081330382
IRS990/TotalAssetsGrp/EOYAmt087304446
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02577987
IRS990/TotalFunctionalExpensesGrp/TotalAmt02577987
IRS990/TotalGrossUBIAmt0600
IRS990/TotalLiabilitiesBOYAmt074026628
IRS990/TotalLiabilitiesEOYAmt079783945
IRS990/TotalLiabilitiesGrp/BOYAmt074026628
IRS990/TotalLiabilitiesGrp/EOYAmt079783945
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07303754
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07520501
IRS990/TotalProgramServiceExpensesAmt02577987
IRS990/TotalProgramServiceRevenueAmt02305247
IRS990/TotalReportableCompFromOrgAmt0116075
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02794134
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02794734
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0600
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081330382
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt087304446
IRS990/TravelGrp/ProgramServicesAmt08439
IRS990/TravelGrp/TotalAmt08439
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05619 HARNEY ROAD
IRS990/USAddress/CityNm0TAMPA
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033610
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.POWERNETCU.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Rick Walker
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STATE CHARTERED CREDIT UNIONS IN FL
ReturnHeader/Filer/BusinessNameControlTxt0STAT
ReturnHeader/Filer/EIN0591262972
ReturnHeader/Filer/PhoneNum08136216454
ReturnHeader/Filer/USAddress/AddressLine1Txt05619 HARNEY ROAD
ReturnHeader/Filer/USAddress/CityNm0TAMPA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0336107115
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FAA5F9C3BCD8DCB50E7D2A8E960D138FFCF86EBD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FAA5F9C3BCD8DCB50E7D2A8E960D138FFCF86EBD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.115.41.3
ReturnHeader/FilingSecurityInformation/IPDt02018-05-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm016:58:02
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EWART & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07480 FAIRWAY DR 207
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIAMI LAKES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033014
ReturnHeader/PreparerPersonGrp/PhoneNum03055574683
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD T EWART CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-05-10T12:59:30-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$87,304,446
Liabilities
$79,783,945
Net assets
$7,520,501
Revenue
$2,794,734
Expenses
$2,577,987
Net income
$216,747
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$113$102$10.6$4.52$4.03$0.49
2023Summary only. Only limited summary data is available for this year.$111$101$10.1$3.85$3.24$0.61
2022Summary only. Only limited summary data is available for this year.$112$102$9.54$2.89$2.47$0.42
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$101$9.12$2.52$2.09$0.43
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$92.8$8.69$2.94$2.67$0.26
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.5$80.1$8.43$3.22$2.73$0.49
2018Summary only. Only limited summary data is available for this year.$86.1$78.1$7.94$3.02$2.60$0.42
2017Detailed filing. Detailed filing data is available for this year.$87.3$79.8$7.52$2.79$2.58$0.22
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$81.3$74.0$7.30$2.74$2.62$0.12
2015Detailed filing. Detailed filing data is available for this year.$75.9$68.7$7.18$2.75$2.61$0.13
2014Detailed filing. Detailed filing data is available for this year.$73.8$66.8$7.05$2.78$2.44$0.34
2013Detailed filing. Detailed filing data is available for this year.$71.7$65.0$6.71$2.85$2.35$0.50
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.4$65.2$6.21$2.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.2$66.2$6.03$3.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.4$65.4$6.00$3.63
Peer Organizations

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