2021-11-16T08:45:46-06:00 2020-12-31 BKD LLP 201 N Illinois Street Indianapolis IN 46204 990 2020-01-01 591286880 iThink Financial Credit Union % ITHINK FINANCIAL CREDIT UNIO ITCU 5619824700 1000 NW 17 Ave Delray Beach FL 334452555 MICHAEL MILLER CEO 5619824700 2021-11-15 true MICHAEL MILLER 999009999 MICHAEL J SUMMERS P00838533 3173834000 2021-11-15 3 2020 2022-09-23 18:48:47Z X ITHINK FINANCIAL MICHAEL L MILLER 1000 NW 17 AVE DELRAY BEACH FL 334452555 88412823 false X ITHINKFI.ORG X 1969 FL TO DELIVER SERVICE EXCELLENCE TO THE MEMBERSHIP AND THE COMMUNITIES WE SERVE WHILE ENSURING THE SAFETY AND SOUNDNESS OF THE CREDIT UNION. 9 8 427 17 240366 0 0 0 73188735 74626235 5742064 8434797 0 0 78930799 83061032 27605 28871 0 0 28289320 31911259 0 0 0 40595175 39414931 68912100 71355061 10018699 11705971 1532195437 1712161633 1413951350 1580719628 118244087 131442005 TO DELIVER SERVICE EXCELLENCE TO THE MEMBERSHIP AND THE COMMUNITIES WE SERVE WHILE ENSURING THE SAFETY AND SOUNDNESS OF THE CREDIT UNION. false false THE CREDIT UNION PROVIDES DRAFT AND SHARE ACCOUNTS, LOANS, SHARE CERTIFICATES AND OTHER EXEMPT FUNCTION ACTIVITIES TO ITS MEMBERS. false false false false false false false false false true false false false true true false true false false false false false false false false false true false true false true false false false false false false false false true true true false false true 27819 0 true 427 true true true false false false false false false false false false false false X 9 8 false false false false true true true true true false true true false true true true false false true false false X ITHINK FINANCIAL CREDIT UNIO 5619824700 1000 NW 17 AVE DELRAY BEACH FL 334452555 MICHAEL MILLER PRESIDENT/CEO 40.0 1.0 X 633637 0 118407 JEFFREY KOLHAGEN CFO 40.0 0.0 X 391609 0 90152 MARK SKINNER CLO 40.0 0.0 X 327472 0 76397 CHRISTOPHER RUSSELL VP BUSINESS LENDING 40.0 0.0 X 249309 0 36375 NICOLE HEFFELFINGER CRO 40.0 0.0 X 238838 0 45360 DAVID LYONS CAO 40.0 0.0 X 217114 0 40012 EDISON CERVANTES CTO 40.0 0.0 X 217114 0 27796 LAURA HETHERINGTON VP LENDING (END 7/31/20) 40.0 0.0 X 196028 0 4418 DIANA CRULL DIRECTOR OF FINANCE 40.0 0.0 X 158340 0 32111 KIMBERLEY BURNS-DONNELL DIRECTOR OF MEMBER BUS LENDING 40.0 0.0 X 141923 0 19831 CAROL FOXWELL AVP PROJECT MANAGEMENT 40.0 0.0 X 124879 0 19341 JAMES M DORMAN TREASURER 1.0 1.0 X 10800 0 0 MICHAEL W TOWNSEND CHAIRPERSON 1.0 1.0 X 2847 0 0 BRAD J DEBAUCHE DIRECTOR 1.0 0.0 X 460 0 0 DONALD L LEE DIRECTOR 1.0 0.0 X 0 0 0 JOHNNY BENNETT DIRECTOR 1.0 1.0 X 0 0 0 STEPHANIE M FORSTER SECRETARY 1.0 0.0 X 0 0 0 PETER BLACKLOCK DIRECTOR 1.0 0.0 X 0 0 0 THOMAS E BRAWLEY DIRECTOR 1.0 0.0 X 0 0 0 JUANA KRAUSE VICE CHAIRPERSON 1.0 0.0 X 0 0 0 2910370 0 510200 12 false true false ATT PO BOX 5019 CAROL STREAMS IL 601975019 COMMUNICATIONS 857000 VISA 742233 LOS ANGELES CA 900742233 CREDIT CARD PROCESSO 743274 FINASTRA PO BOX 535120 ATLANTA GA 303535120 CORE PROCESSOR 694432 LIVE NATION MARKETING INC 9348 CIVIC CENTER DRIVE BEVERLY HILLS CA 90210 MARKETING 560860 EVOK ADVERTISING INC 1485 INTERNATIONAL PARKWAY STE 300 HEATHROW FL 32474 MARKETING 545517 38 0 INCOME ON LOANS 522100 61088464 61088464 FEES/CHARGES/OTHER 522100 5793257 5793257 INTERCHANGE INCOME 522100 4993224 4993224 FNMA SERVICING 522100 871102 871102 GAP INSURANCE 522100 189642 189642 1690546 1450180 240366 74626235 2061737 2061737 0 0 0 0 0 5449058 6275793 5351791 0 97267 6275793 6373060 6373060 0 0 0 0 0 0 0 0 0 0 0 83061032 80758929 240366 2061737 28871 0 0 0 2025784 0 22123139 1119741 5079211 1563384 599176 544946 572218 0 0 0 293167 2556943 5909765 804331 0 2031426 395167 0 7501 11535798 160268 1028113 0 PROVISION FOR LOAN LOSS 8988446 VISA FEES/CHARGES 1560828 LOAN SERVICING 1497261 SHARED BRANCHING 208251 721326 71355061 10416057 16833222 88826722 119852819 0 0 1578311 1246466 5550181 10100777 0 0 1253572579 1344164856 0 0 1515856 2464427 39010258 16623555 23234276 22386703 72684808 118697723 5567406 5563480 0 0 16050134 15415064 53199107 55436096 1532195437 1712161633 15722536 15360000 0 0 0 0 0 0 0 0 0 0 0 0 64608418 62560232 1333620396 1502799396 1413951350 1580719628 X 0 0 0 0 118244087 131442005 118244087 131442005 1532195437 1712161633 X 11705971 713415 778532 X false true X true false 7966552 7966552 16847787 4949285 11898502 1692582 1137309 555273 12357039 10421442 1935597 146298 115519 30779 22386703 0 SHARE DRAFTS 399086445 MONEY MARKET 364693513 SHARES 388224663 CERTIFICATES 350794775 1502799396 X 83774447 713415 713415 83061032 83061032 71355061 71355061 71355061 SCHEDULE D, PART X, LINE 2 THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE, AND LOCAL TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND STATE TAX LAWS. THE INCOME TAXES TOPIC OF THE FASB ASC CLARIFIES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERPRETATION PROVIDES CRITERIA FOR ASSESSMENT OF INDIVIDUAL TAX POSITIONS AND A PROCESS FOR RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. TAX POSITIONS ARE EVALUATED ON WHETHER THEY MEET THE MORE LIKELY THAN NOT STANDARD FOR SUBSTAINABILITY UPON EXAMINATION BY TAX AUTHORITIES. THE CREDIT UNION IS A STATE-CHARTERED CREDIT UNION AS DEFINED IN INTERNAL REVENUE CODE (IRC) SECTION 501(C)(14). AS SUCH, THE CREDIT UNION IS EXEMPT FROM FEDERAL TAXATION OF INCOME DERIVED FROM THE PERFORMANCE OF ACTIVITIES DIRECTLY RELATED TO ITS EXEMPT PURPOSES. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME (UBI) DERIVED BY STATE-CHARTERED CREDIT UNIONS. BEGINNING IN MARCH 2008, THE INTERNAL REVENUE SERVICE (IRS) RELEASED TECHNICAL ADVICE MEMORANDUMS (TAMS) TO SPECIFIC STATE-CHARTERED CREDIT UNIONS SPECIFYING THE REVENUE SOURCES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). UBIT MAY ALSO BE SUBJECT TO TAX IN CERTAIN STATES. MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL OR STATE INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. true ITHINK COMMUNITY FOUNDATION INC 1000 NW 17th Ave Delray Beach FL 334452555 352550107 501(C)(3) 28871 general support 1 SCHEDULE I, PART I, LINE 2 MONITORING THE USE OF GRANT FUNDS: ITHINK COMMUNITY FOUNDATION INC IS THE ONLY RECIPIENT OF GRANT FUNDS. THE FUNDS ARE PROVIDED TO SUPPORT THE MISSION AND PROGRAMS OF THE ORGANIZATION. X true true X X X false true false MICHAEL MILLER PRESIDENT/CEO 565000 0 65400 0 3237 0 101330 0 17077 0 752044 0 DAVID LYONS CAO 201240 0 15874 0 0 0 20131 0 19881 0 257126 0 MARK SKINNER CLO 210912 0 116560 0 0 0 59320 0 17077 0 403869 0 100000 0 JEFFREY KOLHAGEN CFO 224016 0 167593 0 0 0 70271 0 19881 0 481761 0 150000 0 EDISON CERVANTES CTO 201240 0 15874 0 0 0 21783 0 6013 0 244910 0 NICOLE HEFFELFINGER CRO 201240 0 37598 0 0 0 25479 0 19881 0 284198 0 LAURA HETHERINGTON VP LENDING (END 7/31/20) 170040 0 25988 0 0 0 900 0 3518 0 200446 0 KIMBERLEY BURNS-DONNELL DIRECTOR OF MEMBER BUS LENDING 140083 0 1840 0 0 0 12678 0 7153 0 161754 0 CHRISTOPHER RUSSELL VP BUSINESS LENDING 225000 0 24309 0 0 0 19298 0 17077 0 285684 0 DIANA CRULL DIRECTOR OF FINANCE 154500 0 3840 0 0 0 15034 0 17077 0 190451 0 SCHEDULE J, PART I, LINE 1a CERTAIN BOARD MEMBERS AND OFFICERS RECEIVE TRAVEL FOR COMPANIONS AND IS INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 4B THE CREDIT UNION ESTABLISHED A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT FOR MICHAEL MILLER, PRESIDENT/CEO, AND MARK SKINNER, AVP OF REAL ESTATE AND COMMERCIAL LENDING, IN THE FORM OF SECURED SPLIT DOLLAR AGREEMENTS. THE CREDIT UNION LOANED EACH EMPLOYEE, WHO ARE THE OWNERS OF THE POLICIES, THE FUNDS TO PURCHASE THESE POLICIES. THE POLICIES ARE USED TO COLLATERALIZE THE LOANS. AS OF DECEMBER 31, 2020, THE BALANCE OF THE LOANS TO MICHAEL MILLER AND MARK SKINNER, APPROXIMATED $9,099,692 AND $1,001,085, RESPECTIVELY. ITHINK FINANCIAL CREDIT UNION PARTICIPATES IN A 457(F) PLAN. MICHAEL MILLER, MARK SKINNER, AND JEFFREY KOLHAGEN PARTICIPATED AND HAD FUNDS ADDED IN 2020. MICHAEL L MILLER PRESIDENT/CEO TO FUND SERP POLICY X 8750000 9099692 false true true MARK SKINNER CHIEF LENDING OFFICE TO FUND SERP POLICY X 1000000 1001085 false true true 10100777 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS OR STOCKHOLDERS: ITHINK FINANCIAL CREDIT UNION HAS MEMBERS AND REQUIRES A $5 SHARE ACCOUNT TO BE A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BODY: THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS RESERVED FOR MEMBERS: MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW THE FORM 990: THE FORM 990 IS REVIEWED BY THE CEO AND CFO PRIOR TO BEING FILED. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: ITHINK FINANCIAL CREDIT UNION REGULARLY MONITORS AND ENFORCES THE COMPLIANCE OF THEIR CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION FOR THE CEO: AN OUTSIDE COMPANY WAS USED TO ANALYZE THE PAY STRUCTURE FOR THE CEO. THE BOARD EXECUTIVE COMMITTEE REVIEWS IT ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC: THE CREDIT UNION'S GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. THE CREDIT UNION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING ON NCUA.GOV VIA THE QUARTERLY 5300 FILING. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES: DEFINED-BENEFIT PLAN: LOSSES FROM CHANGES IN ACTUARIAL ASSUMPTIONS $ (319,313) AMORTIZATION OF PRIOR OF PRIOR SERVICE COST 1,195,112 REALIZED GAINS ON AFS SECURITIES (97,267) ----------- TOTAL CHANGE IN NET ASSETS $ 778,532 SOUTHEAST SERVICES ORGANIZATIONS II LLC 1000 NW 17TH AVENUE DELRAY BEACH FL 33445 823522506 LOANS FL 1812954 34293348 ITHINK FIN SOUTHEAST TITLE SERVICES ORGANIZATION 1000 NW 17TH AVENUE DELRAY BEACH FL 33445 830971682 TITLE SERVICE FL 69402 120486 ITHINK FIN ITHINK COMMUNITY FOUNDATION INC 1000 NW 17TH AVENUE DELRAY BEACH FL 33445 352550107 CHARITABLE FL 501(C)(3) 7 ITHINK FIN true FIRST INTERNET ASSOCIATION INC 790 PARK OF COMMERCE BLVD BOCA RATON FL 33487 650772946 INTERNET EDUC FL ITHINK FIN C CORP 6000 441 1.00000 true false true false false false false false false false false false false false false false false false false