State Chartered Credit Unions in Florida

Nonprofit profile at a glance

EIN
590968187
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Chipley, FL, USA
Phone
8506388376
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$16,877,852
Expenses
$14,963,113
Assets
$233,031,060
Liabilities
$202,347,124

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • JAN L PAGE (PRESIDENT-CEO)
  • WAYLAND FULFORD (SENIOR VICE PRESIDENT, CLO)
  • NINA ADAMS (SENIOR VICE-PRESIDENT, CFO)
  • REBECCA SPENCER (SENIOR VICE PRESIDENT OF BRANCH OPERATIONS)

Highest reported compensation

  • JAN L PAGE (PRESIDENT-CEO): $314,471 total reported compensation
  • WAYLAND FULFORD (SENIOR VICE PRESIDENT, CLO): $216,448 total reported compensation
  • NINA ADAMS (SENIOR VICE-PRESIDENT, CFO): $198,049 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community South is committed to building better communities by creating lifelong relationships and inspiring the financial success our of our members.

What it reported doing in 2025

The credit union offers share savings, share draft and share certificate accounts. The credit union also provides debit cards, home and mobile banking, bill payer and remote deposit services to our members.

Operating model

Revenue model
Other-operating. 93% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 88
  • Accountability: 37
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.3%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 15.57; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.87; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 7.4%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 19.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 6 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $22.2M in reported program spending
  • Leadership: top reported pay $314K · 12 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.