Southeastern Credit Union Foundation Inc
- Assets
- $4.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 03/1984
- Data as of
- 12/2021
- EIN
- 59-2252733
Organization Overview
Southeastern Credit Union Foundation Inc is located in Tallahassee, FL. The organization was established in 1984. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Credit Union Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Southeastern Credit Union Foundation Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $362.9k during the year ending 12/2021. While expenses have increased by 7.4% per year over the past 7 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.
Since 2015, Southeastern Credit Union Foundation Inc has awarded 25 individual grants totaling $293,952. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE SCIENCE, EDUCATION, AND OTHER CONSUMER CREDIT CHARITABLE PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL COUNSELING CERTIFICATION PROGRAM (FICEP) FOR CREDIT UNION STAFF, DESIGNED FOR THOSE WHO WORK WITH MEMBERS THROUGH MEMBER SERVICE, LENDING, COLLECTIONS, AND ANY OTHERS DEDICATED TO ASSISTING MEMBERS WITH FINANCIAL CAPABILITY GOALS. INCLUDES TWO PARTS OF FOUR LEARNING MODULES EACH AND TWO EXAMS TO OBTAIN THE CERTIFIED CREDIT UNION FINANCIAL COUNSELOR DESIGNATION.
UPDATING AND OPERATING PROGRAMS FOR DISASTER RELIEF FOR CREDIT UNIONS AND/OR CREDIT UNION EMPLOYEES AND VOLUNTEERS WHO HAVE BEEN AFFECTED BY A NATURAL DISASTER.
COMMUNITY SPARKS PROGRAM - SPARKING COLLABORATION AMONG CREDIT UNIONS IN EACH FLORIDA, ALABAMA, AND GEORGIA TO ADDRESS AN OVERLYING DEVELOPMENT ISSUE WITHIN THE COMMUNITIES THEY SERVE. ALABAMA AND GEORGIA HAVE CHOSEN TO PROVIDE HISTORICALLY BLACK COLLEGE & UNIVERSITY SCHOLARSHIPS TO PROVIDE FINANCIAL ASSISTANCE TO THE UNDERSERVED/FIRST-GENERATION COLLEGE STUDENTS ATTENDING HBCU'S WITHIN EACH OF THEIR STATES. FLORIDA IS WORKING ON A JOB UPSCALING PROJECT WITH GENERATIONS USA TO TRAIN JOB CANDIDATES WHO ARE DISPLACED OR OTHERWISE DISENGAGED IN THE CURRENT WORKFORCE AND PLACE THEM IN FLORIDA CREDIT UNIONS.
SCHOLARSHIPS/GRANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Lapine CEO | OfficerTrustee | 1 | $0 |
Kevin Johnson Chair | OfficerTrustee | 1 | $0 |
Henry Armstrong Chair-Elect | OfficerTrustee | 1 | $0 |
Hank Halter Vice Chair | OfficerTrustee | 1 | $0 |
Richard Skaggs Secretary | OfficerTrustee | 1 | $0 |
Caryl Greene Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,066 |
| Related organizations | $632,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $417,632 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,106,698 |
| Total Program Service Revenue | $0 |
| Investment income | $1,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $72,751 |
| Net Income from Fundraising Events | $6,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,190,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,057 |
| Grants and other assistance to domestic individuals. | $24,004 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $109,225 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $60,063 |
| Advertising and promotion | $16,795 |
| Office expenses | $12,147 |
| Information technology | $17,160 |
| Royalties | $0 |
| Occupancy | $24,648 |
| Travel | $19,188 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,290 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,116 |
| Insurance | $2,252 |
| All other expenses | $0 |
| Total functional expenses | $362,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,096,236 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,838 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,875 |
| Net Land, buildings, and equipment | $2,698 |
| Investments—publicly traded securities | $3,252,286 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $433,666 |
| Total assets | $4,857,599 |
| Accounts payable and accrued expenses | $32,902 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $57,174 |
| Total liabilities | $95,076 |
| Net assets without donor restrictions | $2,909,112 |
| Net assets with donor restrictions | $1,853,411 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,857,599 |
Grants Awarded
Over the last fiscal year, Southeastern Credit Union Foundation Inc has awarded $26,177 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PUBLIC PROTECTION CABINET PURPOSE: DISASTER RELIEF FOR KENTUCKY - STATE AGENCY | $20,000 |
Washington, DC PURPOSE: COUNSELING CERTIFICATION PROGRAM SUPPORT | $6,177 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Southeastern Credit Union Foundation Inc has recieved totaling $82,054.
| Awarding Organization | Amount |
|---|---|
Suncoast Credit Union Tampa, FL PURPOSE: TO PROVIDE ASSISTANCE TO SMALLER CREDIT UNIONS | $66,791 |
Delta Community Credit Union Atlanta, GA PURPOSE: EXECUTIVE TEAM SPONSORSHIP | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $263 |
Endowment Analysis
| Beg. Balance | $1,172,132 |
| Net Contributions | $712,604 |
| Grants | $31,325 |
| Ending Balance | $1,853,411 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Chartered Credit Unions In Florida Jonesville, FL | $2,692,290,378 | $122,435,815 |
Florida Credit Union Gainesville, FL | $1,449,934,229 | $94,300,981 |
Atlanta Postal Credit Union Atlanta, GA | $2,565,202,791 | $86,141,254 |
Georgia United Credit Union Duluth, GA | $1,880,574,240 | $80,835,681 |
State Chartered Credit Unions In Florida Dunedin, FL | $2,485,154,200 | $95,219,795 |
State Chartered Credit Unions In Florida Jacksonville, FL | $2,430,634,345 | $94,716,587 |
Lge Community Credit Union Atlanta, GA | $1,989,595,139 | $81,568,561 |
Associated Credit Union Norcross, GA | $2,094,343,004 | $74,274,351 |
Max Credit Union Montgomery, AL | $2,021,706,470 | $76,797,432 |
Credit Unions In The State Of Alabama Birmingham, AL | $3,681,543,052 | $74,996,749 |
Credit Unions In The State Of Alabama Sheffield, AL | $1,142,398,865 | $57,547,152 |
Credit Unions Of Alabama Tuscaloosa, AL | $1,400,922,106 | $57,798,045 |