Overview
What is Tropical Financial Credit Union?
Tropical Financial Credit Union is a not-for-profit financial cooperative based in Miramar, Florida, with an address at 3050 Corporate Way, ZIP code 33025. The organization's mission is to support its restricted membership by offering valuable products, services, and educational resources to help them reach their objectives. The credit union's operations are funded by the income generated from its members' membership and the investment of their funds. With a workforce of 228 employees, Tropical Financial Credit Union aims to provide essential financial services and assistance to its members.
Official website here: www.tropicalfcu.org
What are the reviews and ratings of this charity?
Tropical Financial Credit Union does not have a current rating from Charity Navigator due to its status as an organization not registered under 501(c)(3). Ratings on Charity Navigator require specific criteria, which this credit union does not meet, including comprehensive evaluations based on Accountability & Finance, Impact & Measurement, and other factors pertinent to nonprofits.
Since it is not a 501(c)(3) IRS registered nonprofit, Charity Navigator cannot apply its typical evaluation methods to Tropical Financial Credit Union. This means that common performance metrics or financial data such as total revenue and expenses, or salaries of key persons, are not available for analysis. Therefore, the lack of rating should not be interpreted as either favorable or unfavorable without additional context.
No user reviews are available from GreatNonprofits, meaning there is no direct public feedback regarding experiences with the credit union. This absence of reviews leaves a gap in understanding personal interactions or the community impact of the organization, which would typically complement the organizational profiles provided by quantitative reviews.
This AI summary has been generated from information found on Charity Navigator.
Is Tropical Financial Credit Union legitimate?
Tropical Financial Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Tropical Financial Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,348,910
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,974,835
For more financial information, click here
Official website here: www.tropicalfcu.org
What is the mission statement of Tropical Financial Credit Union?
Tropical Financial Credit Union is a not-for-profit financial cooperative dedicated to serving its member-owners. The organization's mission is to deliver valuable products, services, and education, helping members achieve their financial goals. Income from membership fees and the investment of members' funds serve as the foundation for the credit union to function and provide essential services. By working together as a cooperative, Tropical Financial Credit Union empowers its members to build a better financial future.
Official website here: www.tropicalfcu.org
Who is the CEO of Tropical Financial Credit Union?
Richard Shaw is the Ceo of Tropical Financial Credit Union. The CEO's salary of Tropical Financial Credit Union is $464,349 and their total compensation is $677,188.
Official website here: www.tropicalfcu.org
What is the revenue of Tropical Financial Credit Union?
Tropical Financial Credit Union's revenue in 2022 was $45,945,135.
Official website here: www.tropicalfcu.org
Who are the executives of Tropical Financial Credit Union and what are their salaries?
The average compensation at Tropical Financial Credit Union during 2022 was $62,823. There are 228 employees and 9 volunteers at Tropical Financial Credit Union.
Here are 22 key members and their salaries (Tropical Financial Credit Union's CEO's salary is $464,349 and their total compensation is $677,188):
- Compensation: $464,349
- Related: $0
- Other: $212,839
- Compensation: $378,736
- Related: $0
- Other: $43,496
- Compensation: $189,279
- Related: $0
- Other: $27,449
- Compensation: $179,729
- Related: $0
- Other: $33,836
- Compensation: $173,461
- Related: $0
- Other: $37,657
- Compensation: $182,656
- Related: $0
- Other: $25,215
- Compensation: $154,625
- Related: $0
- Other: $27,929
- Compensation: $155,817
- Related: $0
- Other: $16,917
- Compensation: $126,024
- Related: $0
- Other: $24,509
- Compensation: $117,812
- Related: $0
- Other: $26,501
- Compensation: $124,723
- Related: $0
- Other: $19,343
- Compensation: $123,362
- Related: $0
- Other: $16,210
- Compensation: $117,086
- Related: $0
- Other: $14,124
- Compensation: $13,136
- Related: $0
- Other: $0
- Compensation: $11,471
- Related: $0
- Other: $0
- Compensation: $10,902
- Related: $0
- Other: $0
- Compensation: $8,641
- Related: $0
- Other: $0
- Compensation: $769
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.tropicalfcu.org
Where can I find the form 990 for Tropical Financial Credit Union?
Tropical Financial Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tropicalfcu.org
Learn more at the official website: www.tropicalfcu.org
Mission Statement of Tropical Financial Credit Union
Tropical Financial Credit Union, a not-for-profit financial cooperative, is dedicated to enhancing the financial well-being of its member-owners. By offering a range of valuable products, services, and educational resources, the organization empowers its members to reach their financial goals. Through the collective income generated from membership and the investment of members' funds, Tropical Financial Credit Union is able to sustain its operations and extend its support to its exclusive membership base.
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Impact
October, 2024
Tropical Financial Credit Union plays a crucial role in enhancing the financial well-being of its members in Miramar, FL, by offering valuable products, services, and educational resources tailored to help individuals achieve their financial goals. As a member-owned financial cooperative, it focuses on serving the unique needs of its community, fostering a sense of partnership and commitment among its members.
The income generated from membership fees and the prudent investment of members' funds creates a stable foundation that enables the credit union to deliver accessible financial solutions. By prioritizing member benefits over profit, Tropical Financial Credit Union ensures that its financial offerings remain affordable and equitable, ultimately contributing to the overall economic health of the community it serves. This commitment to public benefit enhances financial literacy, empowers members to make informed decisions, and supports them in reaching their aspirations.
This information is meant to be a general summary of Tropical Financial Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,437,787
- Program Service Revenue: $43,507,348
- Gross Receipts: $79,174,961
Assets and Liabilities:
- Total Assets: $988,133,882
- Total Liabilities: $899,462,575
- Net Assets: $88,671,307
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME ON LOANS
Revenue
$33,282,778
CHARGES/FEES/OTHER
Revenue
$10,224,570
Organization Details
Founding Year
1935
Phone
(888) 261-8328Principal Officer
Richard Shaw
Main Address
3050 CORPORATE WAY, MIRAMAR, FL, 33025
Website
www.tropicalfcu.orgNTEE Category
Code: W60 - Public benefit
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