League Of Southeastern Credit Unions
- Assets
- $39.8m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Tallahassee, FL
- Founding
- 06/2009
- Data as of
- 12/2021
- EIN
- 94-3458406
Organization Overview
League Of Southeastern Credit Unions is located in Tallahassee, FL. The organization was established in 2009. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. League Of Southeastern Credit Unions is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, League Of Southeastern Credit Unions generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $5.7m during the year ending 12/2021. While expenses have increased by 2.4% 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, League Of Southeastern Credit Unions has awarded 15 individual grants totaling $937,517. 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
PROMOTE ADVANCEMENT AND SUCCESS OF CREDIT UNIONS THROUGH ADVOCACY, INFORMATION AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNIONS AND OFFICIALS. DEVELOPING CREDIT UNION PROGRAMS AVAILABLE LEAGUE OF SOUTHEASTERN CREDIT UNIONS 94-3458406 RESEARCH, INFORMATION, AND TECHNICAL SERVICES. ECONOMIC NEWSLETTER TO CREDIT UNIONS. CRISIS TEAM ASSISTANCE AVAILABLE TO CREDIT UNIONS.
COMMUNICATIONS, PUBLIC RELATIONS, PLANNING. BI-WEEKLY GENERAL INFORMATION LETTER TO CREDIT UNIONS AND OFFICIALS. STRATEGIC PLANNING SESSIONS FOR CREDIT UNIONS AROUND STATES. NEWS RELEASES AND ISSUES AFFECTING CREDIT UNIONS.
HUMAN RESOURCE DEVELOPMENT AND EDUCATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Armstrong Chair-Elect | OfficerTrustee | 1 | $0 |
Kevin Johnson Chair | OfficerTrustee | 1 | $0 |
Caryl Greene Treasurer | OfficerTrustee | 1 | $0 |
Richard Skaggs Secretary | OfficerTrustee | 1 | $0 |
Hank Halter Vice Chair | OfficerTrustee | 1 | $0 |
Patrick Lapine CEO | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mike Mercer Consulting Services | 12/30/20 | $495,000 |
Lscu Service Corporation Inc Payroll, Human Resources, Accounting, Fa | 12/30/20 | $2,224,303 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,043 |
| Related organizations | $715,000 |
| 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 | $718,043 |
| Total Program Service Revenue | $4,857,366 |
| Investment income | $9,605 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,490 |
| Net Income from Fundraising Events | -$7,130 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$517,959 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,559,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $852,069 |
| 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. | $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 | $2,378,685 |
| Fees for services: Legal | $11,223 |
| Fees for services: Accounting | $348,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $294,508 |
| Advertising and promotion | $510,436 |
| Office expenses | $55,333 |
| Information technology | $183,053 |
| Royalties | $0 |
| Occupancy | $266,927 |
| Travel | $193,831 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,549 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,474 |
| Insurance | $41,929 |
| All other expenses | $121,769 |
| Total functional expenses | $5,668,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,961,088 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $84,031 |
| 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 | $313,284 |
| Net Land, buildings, and equipment | $15,348 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,387,007 |
| Total assets | $39,760,758 |
| Accounts payable and accrued expenses | $841,904 |
| Grants payable | $0 |
| Deferred revenue | $1,482,452 |
| 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 | $0 |
| Total liabilities | $2,324,356 |
| Net assets without donor restrictions | $36,411,395 |
| Net assets with donor restrictions | $1,025,007 |
| 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 | $39,760,758 |
Grants Awarded
Over the last fiscal year, League Of Southeastern Credit Unions has awarded $792,315 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AFFILIATES CONSOIDATED SERVICES LLC PURPOSE: PAC CONTRIBUTIONS | $450,000 |
FLORIDA CREDIT UNION POLITICAL ACTION COMMITTEE PURPOSE: PAC CONTRIBUTIONS | $175,000 |
ALABAMA CREDIT UNION LEGISLATIVE ACTION COMMITTEE PURPOSE: PAC CONTRIBUTIONS | $150,000 |
Madison, WI PURPOSE: FINANCIAL WELLNESS TRAINING AND DISASTER RELIEF | $17,315 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that League Of Southeastern Credit Unions has recieved totaling $5,295.
| Awarding Organization | Amount |
|---|---|
State Chartered Credit Unions In Florida Fort Lauderdale, FL PURPOSE: Charitable donation to support Credit Union friendly candidates for state legislature and constitutional offices throughout Florida. | $5,295 |
Endowment Analysis
| Beg. Balance | $1,180,048 |
| Net Contributions | $210,271 |
| Grants | $147,770 |
| Ending Balance | $1,242,549 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Association Of Insurance Agents Tallahassee, FL | $18,623,782 | $7,878,406 |
League Of Southeastern Credit Unions Tallahassee, FL | $39,760,758 | $6,559,105 |
Florida Insurance Council Inc Tallahassee, FL | $1,399,532 | $1,816,663 |
East Alabama Board Of Realtors Inc Phenix City, AL | $1,180,548 | $585,602 |
National Association Of Insurance Women Atlanta, GA | $663,265 | $416,354 |
Ceo Council Of Tampa Bay Inc Tampa, FL | $654,978 | $478,941 |
American Risk & Insurance Assn Inc Belleair Bluffs, FL | $1,120,789 | $313,453 |
Medical Staff Of Blake Medical Center Inc Bradenton, FL | $717,003 | $183,944 |
Nurse Practitioner Alliance Of Alabama Birmingham, AL | $116,728 | $0 |
Midway Canaan Community Water Association Inc Sanford, FL | $156,710 | $231,413 |
Georgia Association Of Woodturners Inc Winston, GA | $60,610 | $0 |
Atlanta Chapter Of The Cpcu Society Inc Atlanta, GA | $255,433 | $0 |