Civic Intelligence

State Chartered Credit Unions in Florida

990 • Fiscal year 2019 • EIN 59-1262972

Jan 01, 2019 to Dec 31, 2019 • Filed on May 08, 2020

Organization ProfileWWW.POWERNETCU.ORG

View Organization Page

5619 Harney RoadTampa, FL 33610

(813) 621-6454

Siviq Scores

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

Liabilities / Assets

81st percentile

0.90x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

95th percentile

24.87x

Higher debt load relative to revenue than 95% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Net Margin

65th percentile

15%

Higher net margin than 65% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

47th percentile

$140,076

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Source year 2019

Asset Growth

44th percentile

2.8%

Faster asset growth than 44% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

48th percentile

6.4%

Faster revenue growth than 48% of similar nonprofits.

2019 filings • 501(c)14 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$88,500,251

Up $2,442,971 (+2.8%) from 2018

Net Assets

Up

$8,431,947

Up $487,317 (+6.1%) from 2018

Liabilities

Up

$80,068,304

Up $1,955,654 (+2.5%) from 2018

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin65th percentile

Revenue

Up

$3,219,133

Up $194,888 (+6.4%) from 2018

Expenses

Up

$2,731,816

Up $131,700 (+5.1%) from 2018

Net Income

Up

$487,317

Up $63,188 (+15%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2019

Assets$88,500,251
Liabilities$80,068,304
Net Assets$8,431,947
Open 2019 Filing

Operations Trend

Revenue Growth48th 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

2019

Revenue$3,219,133
Expenses$2,731,816
Net Income$487,317
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 8, 2020
Return Version
2019v5.0
Gross Receipts
$3,224,117
Mission and Program Overview

Mission

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

CREDIT UNION PROGRAMS

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$38,167,343$38,284,806▲ $117,463
Investments in Publicly Traded Securities$26,176,466$25,515,334▼ $661,132
Savings and Temporary Cash Investments$17,537,559$20,485,099▲ $2,947,540
Rtn Earn Endowment Incm Other Fnds$7,944,630$8,431,947▲ $487,317
Investments Program Related$1,818,188$1,706,367▼ $111,821
Land, Buildings, and Equipment, Net$1,426,812$1,387,418▼ $39,394
Cash and Non-Interest-Bearing Accounts$488,820$561,467▲ $72,647
Accounts Receivable$181,971$277,397▲ $95,426
Prepaid Expenses and Deferred Charges$260,121$172,363▼ $87,758
Total Assets$86,057,280$88,500,251▲ $2,442,971
Other Assets Total-$110,000-
Liabilities
Other Liabilities$77,733,509$79,745,130▲ $2,011,621
Accounts Payable and Accrued Expenses$379,141$323,174▼ $55,967
Total Liabilities$78,112,650$80,068,304▲ $1,955,654
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,944,630$8,431,947▲ $487,317
Total Liabilities and Net Assets / Fund Balance$86,057,280$88,500,251▲ $2,442,971

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$652,150--
Buildings$1,105,380$1,027,764-
Land$223,884--
Equipment$58,154$579,781-
Leasehold Improvements-$86,130-
Other Assets Org$110,000--
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Donald a PrueCEOFT$140,076$140,076

Board Members and Trustees

NameTitle
Cara a SmithDirector
Johnathon E DehmelDirector
Shawn M MacconnellDirector
Shawn P McdonnellDirector
William J NolanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,273,957
Investment Income
$945,176
Other Revenue
$0
Change in Net Assets
$487,317
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,491,967
Salaries, Compensation, and Employee Benefits$1,239,849
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$740,727
Interest---$574,198
Office Expenses---$403,714
Other Employee Benefits---$225,767
Fees for Services Accounting---$147,504
Current Officers, Directors, Trustees, and Key Employees---$140,076
Depreciation Depletion---$93,053
Payroll Taxes---$68,412
Pension Plan Contributions---$64,867
Occupancy---$64,739
Insurance---$50,609
Fees for Services Other---$40,552
Advertising---$37,880
Fees for Services Legal---$8,928
Travel---$8,123
Conferences and Meetings---$8,073
Other Expenses---$7,500
All Other Expenses---$3,954
Total Functional Expenses$0$0$0$2,731,816
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$79,745,130
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 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

Part VI Line 6

“Credit union is comprised of members”

Part VI Line 7A

“Each member gets one vote in election of each board opening”

Part VI Line 11B

“Ceo & cfo review 990 & make copies avialable to board”

Part VI Line 12C

“Directors with possible conflicts are excused from discussions & voting”

Part VI Line 12C

“Employees cannot process transactions on their own behalf or family”

Part VI Line 15A or B

“Industry salary surveys are used as a guide by the board to set salaries”

Part VI Line 19

“Financial statements are posted in the lobby”

Part VI Line 19

“Other items that are required to be disclosed are available upon request”

Filing and Contact Details

Filer

Filer Name
State Chartered Credit Unions in Florida
EIN
59-1262972
In Care Of
% DONALD PRUE
Phone
8136216454
Address
5619 HARNEY ROAD, TAMPA, FL 33610
Doing Business As
Powernet Credit Union

Signing Officer

Name
Donald Prue
Title
CEO
Phone
8136216454
Signed
2020-05-08

Organization Details

Principal Officer
Donald Prue
Formed
1961
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
23
Volunteers
8
Raw XML Appendix363 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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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/LandGrp/BookValueAmt0223884
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0223884
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt086130
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt086130
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0110000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt079745130
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER DEPOSITS
IRS990ScheduleD/Section170hRqrStsfdInd0false
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01387418
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0110000
IRS990ScheduleD/TotalBookValueProgramRltdAmt01706367
IRS990ScheduleD/TotalLiabilityAmt079745130
IRS990ScheduleD/WrittenPolicyMonitoringInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CREDIT UNION IS COMPRISED OF MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER GETS ONE VOTE IN ELECTION OF EACH BOARD OPENING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CEO & CFO REVIEW 990 & MAKE COPIES AVIALABLE TO BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS WITH POSSIBLE CONFLICTS ARE EXCUSED FROM DISCUSSIONS & VOTING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EMPLOYEES CANNOT PROCESS TRANSACTIONS ON THEIR OWN BEHALF OR FAMILY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INDUSTRY SALARY SURVEYS ARE USED AS A GUIDE BY THE BOARD TO SET SALARIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS ARE POSTED IN THE LOBBY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OTHER ITEMS THAT ARE REQUIRED TO BE DISCLOSED ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part VI Line 15a or b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part VI Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Part VI Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt086057280
IRS990/TotalAssetsEOYAmt088500251
IRS990/TotalAssetsGrp/BOYAmt086057280
IRS990/TotalAssetsGrp/EOYAmt088500251
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt023
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02731816
IRS990/TotalGrossUBIAmt0400
IRS990/TotalLiabilitiesBOYAmt078112650
IRS990/TotalLiabilitiesEOYAmt080068304
IRS990/TotalLiabilitiesGrp/BOYAmt078112650
IRS990/TotalLiabilitiesGrp/EOYAmt080068304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07944630
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08431947
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt059976
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt059976
IRS990/TotalProgramServiceExpensesAmt02731816
IRS990/TotalProgramServiceRevenueAmt02273957
IRS990/TotalReportableCompFromOrgAmt0140076
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03210267
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03219133
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0400
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt086057280
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt088500251
IRS990/TravelGrp/TotalAmt08123
IRS990/TypeOfOrganizationCorpInd0X
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/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD PRUE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08136216454
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STATE CHARTERED CREDIT UNIONS IN FLORIDA
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0POWERNET CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0STAT
ReturnHeader/Filer/EIN0591262972
ReturnHeader/Filer/InCareOfNm0% DONALD PRUE
ReturnHeader/Filer/PhoneNum08136216454
ReturnHeader/Filer/USAddress/AddressLine1Txt05619 HARNEY ROAD
ReturnHeader/Filer/USAddress/CityNm0TAMPA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033610
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08FBBBC3B679F771D7972AA199C5F19557DB7EEF1
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08FBBBC3B679F771D7972AA199C5F19557DB7EEF1
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId021010520201290398713
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-05-08
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0O
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.115.41.3
ReturnHeader/ReturnTs02020-05-08T19:13:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$88,500,251
Liabilities
$80,068,304
Net assets
$8,431,947
Revenue
$3,219,133
Expenses
$2,731,816
Net income
$487,317
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
2019Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)14 • $50M-$100M nonprofits