Addition Financial Credit Union
- Assets
- $2.6b
- Revenue
- $110.0m
- Investments
- $442.8m
- Employees
- 711
- Location
- Lake Mary, FL
- Founding
- Data as of
- 12/2021
- EIN
- 59-0678236
Organization Overview
Addition Financial Credit Union, operating under the name James Rychlicki Cfo, is located in Lake Mary, FL. As of 12/2021, James Rychlicki Cfo employed 711 individuals. James Rychlicki Cfo is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADDITION FINANCIAL CREDIT UNION IS COMMITTED TO HELPING MEMBERS ACHIEVE THEIR MONEY MANAGEMENT GOALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED FOR CREDT UNION OPERATIONS AND MEMBERS
EXPENSES INCURRED FOR CREDT UNION OPERATIONS AND MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Miller President & CEO | Officer | 50 | $717,167 |
Kevin J Dougherty COO | 50 | $471,744 | |
Samuel M Nelson Caogeneral Counsel | 50 | $415,088 | |
Kevin S Wright Cio | 50 | $392,213 | |
James R Rychlicki CFO | 50 | $375,168 | |
Thuylinh N Dang Cdo | 50 | $359,918 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $68,828,526 |
| Investment income | $7,253,814 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,957,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,978,421 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,661,198 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,036,926 |
| Pension plan accruals and contributions | $1,279,959 |
| Other employee benefits | $5,187,295 |
| Payroll taxes | $2,231,552 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396,740 |
| Fees for services: Accounting | $227,922 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,623,918 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,808,189 |
| Travel | $485,957 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $402,858 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,764,898 |
| Insurance | $127,044 |
| All other expenses | $28,115,620 |
| Total functional expenses | $84,350,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,209,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,044,803 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,812,554,760 |
| Inventories for sale or use | $19,950 |
| Prepaid expenses and deferred charges | $3,537,874 |
| Net Land, buildings, and equipment | $73,988,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $442,758,215 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,212,472 |
| Total assets | $2,609,326,648 |
| Accounts payable and accrued expenses | $8,003,216 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $47,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,304,469,074 |
| Total liabilities | $2,359,972,290 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $249,354,358 |
| Total liabilities and net assets/fund balances | $2,609,326,648 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Addition Financial Credit Union has recieved totaling $13,875.
| Awarding Organization | Amount |
|---|---|
Southeastern Credit Union Foundation Inc Tallahassee, FL PURPOSE: COMMUNITY SUPPORT | $13,875 |
View Grant Recipient Profile
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Delta Account Based Medical Tr Atlanta, GA | $64,420,451 | $922,711,944 |
Global Health Solutions Inc Decatur, GA | $0 | $961,202,345 |
Capital Health Plan Inc Tallahassee, FL | $734,027,289 | $976,457,575 |
United Parcel Service Veba Ups Health And Welfare Plan Atlanta, GA | $4,408,597 | $950,371,007 |
Prisma Health-University Medical Group Greenville, SC | $134,365,616 | $657,970,757 |
First Health Of The Carolinas Inc Pinehurst, NC | $1,544,188,654 | $986,400,718 |
Shriners Hospitals For Children Tampa, FL | $10,877,290,799 | $896,169,390 |
University Community Hospital Inc Tampa, FL | $1,235,213,568 | $915,701,443 |
Morton Plant Hospital Association Inc Clearwater, FL | $1,389,589,934 | $934,836,650 |
Mount Sinai Medical Center Of Florida Inc Miami Beach, FL | $992,427,664 | $901,856,611 |
Florida Clinical Practice Association Inc Gainesville, FL | $318,503,929 | $849,836,390 |
Shands Jacksonville Medical Center Inc Jacksonville, FL | $750,537,278 | $894,366,475 |