Adventhealth Credit Union
- Assets
- $95.1m
- Revenue
- $4.3m
- Investments
- $2.4m
- Employees
- 29
- Location
- Altamonte Springs, FL
- Founding
- 10/1970
- Data as of
- 12/2022
- EIN
- 59-1022425
Organization Overview
Adventhealth Credit Union is located in Altamonte Springs, FL. The organization was established in 1970. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Adventhealth Credit Union employed 29 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Adventhealth Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Adventhealth Credit Union generated $4.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. While expenses have increased by 7.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO EMPOWER MEMBERS TO ACHIEVE THEIR FINANCIAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARES - THE CREDIT UNION HAS OVER 18,878 SHARE ACCOUNTS THAT HAVE AN AGGREGATE BALANCE OVER $85 MILLION.
LOANS - THE CREDIT UNION HAS OVER 4,000 LOAN ACCOUNTS THAT HAVE AN AGGREGATE BALANCE OVER $70 MILLION.
FINANCIAL SERVICES - THE CREDIT UNION OFFERS A VARIETY OF FINANCIAL SERVICES FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Deegan Chair | Trustee | 1 | $0 |
Kathy Reep Vice Chair | Trustee | 1 | $0 |
Gregory Edris Secretary | Trustee | 1 | $0 |
Cecil Lowry Treasurer | Trustee | 1 | $0 |
Tim Cook Director | Trustee | 1 | $0 |
William Cochran Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cu Answers Core Processing | 12/30/21 | $235,601 |
Worldpay Debit/credit Processing | 12/30/21 | $226,048 |
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 | $3,914,157 |
| Investment income | $401,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,316,141 |
| 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. | $478,611 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,113,370 |
| Pension plan accruals and contributions | $53,606 |
| Other employee benefits | $37,972 |
| Payroll taxes | $122,102 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,453 |
| Fees for services: Accounting | $69,522 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,975 |
| Office expenses | $70,946 |
| Information technology | $296,401 |
| Royalties | $0 |
| Occupancy | $99,291 |
| Travel | $176 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,079 |
| Interest | $229,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,566 |
| Insurance | $31,499 |
| All other expenses | $0 |
| Total functional expenses | $3,455,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $469,072 |
| Savings and temporary cash investments | $7,889,591 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $535,866 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $69,754,832 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,580 |
| Net Land, buildings, and equipment | $658,822 |
| Investments—publicly traded securities | $11,294,423 |
| Investments—other securities | $2,370,170 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,090,201 |
| Total assets | $95,116,557 |
| Accounts payable and accrued expenses | $4,134,663 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $85,108,907 |
| Total liabilities | $89,243,570 |
| 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 | $5,872,987 |
| Total liabilities and net assets/fund balances | $95,116,557 |