Civic Intelligence

State Chartered Credit Unions in Florida

990 • Fiscal year 2023 • EIN 59-6131478

Jan 01, 2023 to Dec 31, 2023 • Filed on May 03, 2024

Organization ProfileN/A
600 North 8th StreetFernandina Beach, FL 32034

(904) 277-5713

Siviq Scores

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

Liabilities / Assets

12th percentile

0.61x

Higher debt load relative to assets than 12% of similar nonprofits.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

83rd percentile

22.51x

Higher debt load relative to revenue than 83% of similar nonprofits.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2023

Net Margin

14th percentile

-4.9%

Higher net margin than 14% of similar nonprofits.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

64th percentile

$57,663

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 31.9% of source-year revenue.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2023

Asset Growth

48th percentile

-5.6%

Faster asset growth than 48% of similar nonprofits.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

17th percentile

8.2%

Faster revenue growth than 17% of similar nonprofits.

2023 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$6,653,927

Down $394,216 (-5.6%) from 2022

Net Assets

Down

$2,584,528

Down $71,309 (-2.7%) from 2022

Liabilities

Down

$4,069,399

Down $322,907 (-7.4%) from 2022

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin14th percentile

Revenue

Up

$180,774

Up $13,773 (+8.2%) from 2022

Expenses

Up

$189,582

Up $64,374 (+51%) from 2022

Net Income

Down

-$8,808

Down $50,601 (-121%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $7,386,361Liabilities 2020: $4,682,244Net Assets 2020: $2,704,1172020Assets 2021: $7,359,294Liabilities 2021: $4,745,133Net Assets 2021: $2,614,1612021Assets 2022: $7,048,143Liabilities 2022: $4,392,306Net Assets 2022: $2,655,8372022Assets 2023: $6,653,927Liabilities 2023: $4,069,399Net Assets 2023: $2,584,5282023Assets 2024: $6,048,009Liabilities 2024: $3,436,783Net Assets 2024: $2,611,2262024

Highlighted filing

2023

Assets$6,653,927
Liabilities$4,069,399
Net Assets$2,584,528
Open 2023 Filing

Operations Trend

Revenue Growth17th percentile

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

$300K$200K$100K$0-$100KRevenue 2020: $200,623Expenses 2020: $229,641Net Income 2020: -$29,0182020Revenue 2021: $111,754Expenses 2021: $201,710Net Income 2021: -$89,9562021Revenue 2022: $167,001Expenses 2022: $125,208Net Income 2022: $41,7932022Revenue 2023: $180,774Expenses 2023: $189,582Net Income 2023: -$8,8082023Revenue 2024: $187,747Expenses 2024: $161,049Net Income 2024: $26,6982024

Highlighted filing

2023

Revenue$180,774
Expenses$189,582
Net Income-$8,808
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 3, 2024
Return Version
2023v5.0
Gross Receipts
$180,774
Mission and Program Overview

Mission

Credit union - to provide services to approximately 578 members in the form of loans, savings, and other financial services.

Credit union - to provide financial services for its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,284,861$3,887,860▼ $397,001
Rtn Earn Endowment Incm Other Fnds$2,655,837$2,584,528▼ $71,309
Other Notes and Loans Receivable, Net$2,242,255$1,953,307▼ $288,948
Cash and Non-Interest-Bearing Accounts$452,636$734,402▲ $281,766
Prepaid Expenses and Deferred Charges$4,064$17,477▲ $13,413
Total Assets$7,048,143$6,653,927▼ $394,216
Other Assets Total$64,327$60,881▼ $3,446
Liabilities
Other Liabilities$4,381,285$4,043,785▼ $337,500
Accounts Payable and Accrued Expenses$11,021$25,614▲ $14,593
Total Liabilities$4,392,306$4,069,399▼ $322,907
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,655,837$2,584,528▼ $71,309
Total Liabilities and Net Assets / Fund Balance$7,048,143$6,653,927▼ $394,216

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$76,860--
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Debi RowlandManagerFT$50,153$7,510$57,663

Board Members and Trustees

NameTitle
Sidney HaleBoard Chair
John SpenceSc Chair
Leon GrantBoard Member
Don WisienskiBoard Secret
Robert MartinBoard Treasu
Joshua WardBoard VP
Darrell HennSc Member
Tony CrewsSc Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$112,954
Investment Income
$65,243
Other Revenue
$2,577
Change in Net Assets
$-8,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$104,314
Other Expenses$85,268
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$90,006-$90,006
Office Expenses-$23,184-$23,184
Other Employee Benefits-$7,266-$7,266
Payroll Taxes-$7,042-$7,042
Interest-$4,111-$4,111
Other Expenses-$1,809-$1,809
Conferences and Meetings-$1,235-$1,235
All Other Expenses-$225-$225
Total Functional Expenses$0$189,582$0$189,582
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
Regular Shares$3,945,353
All Other Shares$67,866
Share Drafts$30,566
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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 6

“The credit union is owned by the members.”

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

“The board of directors is elected by the membership (one member, one vote). All duties, powers, and responsibilities are controlled by the board of directors. The members elect the board of directors at the annual meeting every year.”

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

“Some decisions made by the board of directors are affirmed by the members.”

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

“The form 990 is reviewed by the manager. The form 990 is available for review by the board upon request.”

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

“The board of directors use a comparison of small credit union compensation.”

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

“Only comparability data was used in determining compensation for the president/ceo.”

Form 990, Page 6, Part VI, Line 19

“Financial documents are posted in the credit union lobby by the 15th of the subsequent month.”

Filing and Contact Details

Filer

Filer Name
Container Mutual Credit Union
EIN
59-6131478
Phone
9042775713
Address
600 NORTH 8TH STREET, FERNANDINA BEACH, FL 32034

Signing Officer

Name
Debi Rowland
Title
Manager
Phone
9042775713
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Debi Rowland
Formed
1941
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
8

Preparer

Firm
Cu Audit & Compliance Group
Address
3692 COOLIDGE CT, TALLAHASSEE, FL 32311-7890
Preparer
Amanda Onkst
Phone
2054372176
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Hours of service are related to duties of the board of directors, supervisory committee, and credit committee without compensation.”

Form 990, Page 5, Part V, Line 3B

“The credit union had no unrelated income.”

Form 990, Part XI, Line 9

“Acct adj - cecl -62,500 due to rounding -1 total -62,501”

Raw XML Appendix353 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HOURS OF SERVICE ARE RELATED TO DUTIES OF THE BOARD OF DIRECTORS, SUPERVISORY COMMITTEE, AND CREDIT COMMITTEE WITHOUT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CREDIT UNION HAD NO UNRELATED INCOME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CREDIT UNION IS OWNED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP (ONE MEMBER, ONE VOTE). ALL DUTIES, POWERS, AND RESPONSIBILITIES ARE CONTROLLED BY THE BOARD OF DIRECTORS. THE MEMBERS ELECT THE BOARD OF DIRECTORS AT THE ANNUAL MEETING EVERY YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SOME DECISIONS MADE BY THE BOARD OF DIRECTORS ARE AFFIRMED BY THE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FORM 990 IS REVIEWED BY THE MANAGER. THE FORM 990 IS AVAILABLE FOR REVIEW BY THE BOARD UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS USE A COMPARISON OF SMALL CREDIT UNION COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ONLY COMPARABILITY DATA WAS USED IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FINANCIAL DOCUMENTS ARE POSTED IN THE CREDIT UNION LOBBY BY THE 15TH OF THE SUBSEQUENT MONTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ACCT ADJ - CECL -62,500 DUE TO ROUNDING -1 TOTAL -62,501
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 5, PART V, LINE 3B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
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, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07048143
IRS990/TotalAssetsEOYAmt06653927
IRS990/TotalAssetsGrp/BOYAmt07048143
IRS990/TotalAssetsGrp/EOYAmt06653927
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0189582
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0189582
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04392306
IRS990/TotalLiabilitiesEOYAmt04069399
IRS990/TotalLiabilitiesGrp/BOYAmt04392306
IRS990/TotalLiabilitiesGrp/EOYAmt04069399
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02655837
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02584528
IRS990/TotalOtherCompensationAmt07510
IRS990/TotalProgramServiceExpensesAmt0189582
IRS990/TotalProgramServiceRevenueAmt0112954
IRS990/TotalReportableCompFromOrgAmt050153
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0180774
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0180774
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07048143
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06653927
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0600 NORTH 8TH STREET
IRS990/USAddress/CityNm0FERNANDINA BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032034
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBI ROWLAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum09042775713
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CONTAINER MUTUAL CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0CONT
ReturnHeader/Filer/EIN0596131478
ReturnHeader/Filer/PhoneNum09042775713
ReturnHeader/Filer/USAddress/AddressLine1Txt0600 NORTH 8TH STREET
ReturnHeader/Filer/USAddress/CityNm0FERNANDINA BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032034
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202711127
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CU AUDIT & COMPLIANCE GROUP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03692 COOLIDGE CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TALLAHASSEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0323117890
ReturnHeader/PreparerPersonGrp/PhoneNum02054372176
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA ONKST
ReturnHeader/ReturnTs02024-05-08T10:05:09-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DEBI
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ROWLAND
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,653,927
Liabilities
$4,069,399
Net assets
$2,584,528
Revenue
$180,774
Expenses
$189,582
Net income
-$8,808
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.05$3.44$2.61$0.19$0.16$0.03
2023Detailed filing. Detailed filing data is available for this year.$6.65$4.07$2.58$0.18$0.19$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.05$4.39$2.66$0.17$0.13$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.36$4.75$2.61$0.11$0.20$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.39$4.68$2.70$0.20$0.23$0.03