Addition Financial Credit Union
100% goes to programs Strong reserves Growing revenue
Addition Financial Credit Union is a 501(c)(14) organization based in Lake Mary, Florida, registered in 2022, with $172,550,204 in FY2024 revenue. CharityIndex grades it B+, and it directs about 100% of spending to programs.
1000 Primera Blvd, Lake Mary, FL, 32746 EIN 59-0678236 Since 2022
Revenue (FY2024)
$172.6M
▲ 1.2% vs prior year
Public Benefit median: $140K
Expenses (FY2024)
$155.3M
Net assets
$226.5M
Employees
734
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Addition Financial Credit Union: 100% to programs earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating18 mo reserves · +10% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Addition Financial Credit Union: 18 mo reserves · +10% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Addition Financial Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Addition Financial Credit Union: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Addition financial credit union is committed to helping members achieve their money management goals.
What they do
Provide 87,349 loans including mortgages, business, home equity, credit cards, share secured, vehicle, and line of credit loans with aggregate loan balances that approximated $1,850,385,000 as of december 31, 2024.
Contact & location
- Address
- 1000 Primera Blvd, Lake Mary, FL, 32746
- City
- Lake Mary
- State
- Florida
- Category
- Public & Societal Benefit
- Subcategory
- Financial Institutions
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $110.0M (FY2021) to $172.6M (FY2024) across 4 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $2.5BNet assets $226.5M
Operating margin
10.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.7B
Total liabilities
$2.5B
Net assets
$226.5M
Salaries & benefits
$45.7M
29% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $172,550,204▲1.2% | $155,260,898▼5.5% | $226,458,215▲11.0% | $2,735,864,519▼6.1% | 990 |
| 2023 | $170,511,185▲34.8% | $164,238,136▲58.6% | $204,060,036▼8.0% | $2,912,144,631▲5.4% | 990 |
| 2022 | $126,516,804▲15.0% | $103,558,609▲22.8% | $221,790,124▼11.1% | $2,764,171,874▲5.9% | 990 |
| 2021 | $109,978,421 | $84,350,076 | $249,354,358 | $2,609,326,648 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Kevin Miller — $999,561 (0.64% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kevin Miller | President/ceo | 40 | $999,561 |
| Kevin Dougherty | Chief Operating Officer | 40 | $497,196 |
| Kevin Wright | Chief Information Officer | 40 | $426,331 |
| Sam Nelson | Chief Administrative Officer | 40 | $424,242 |
| Qing Lu | Chief Financial Officer | 40 | $421,247 |
| Miriam Mitchell | Chief Lending Officer | 40 | $343,895 |
| Nora Rodriguez Patterson | Chief Communications Officer | 40 | $300,614 |
| Shirley Shoemaker | Svp Branch Operations | 40 | $229,721 |
| Joseph Maclaren | Assistant General Counsel | 40 | $227,238 |
| Alex Dejesus | Svp Member Experience | 40 | $200,266 |
| Jason Hansen | Vp Marketing | 40 | $187,374 |
| Matthew Walsh | Vp Information Technology | 40 | $186,651 |
| Gabriela Ortigoni | Board Member | 10 | $7,758 |
| Janet Bush | Board Member | 10 | $5,585 |
| Richard Collins | Board Chairperson | 10 | $4,074 |
| Kimberly Marten | Board Member | 10 | $831 |
| Judith Padres | Board Member | 10 | $792 |
| Cary Dortona | Board Member | 10 | — |
| Dale Kelly | Board Vice Chairperson | 10 | — |
| Naval Modani | Board Treasurer | 10 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Seibold Security of Florida Inc | Security Equipment | $979,954 |
| Lanvera Ltd | Data Processing | $826,019 |
| Cdw LLC | Data Processing | $759,945 |
| Jack Henry & Associates Inc | Data Processing | $698,307 |
| Meridianlink Inc | Lending Software Service | $691,978 |
Grants made · $423K in FY2024
1 grant totaling $423K in FY2024. All grants made by Addition Financial Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Addition Financial Foundation Inc | The addition financial foundation, inc. was primarily formed to assist addition financial credit union promote and provide assistance to initiatives benefiting education. | $423,002 |
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Compare Addition Financial Credit Union
Frequently asked questions
- Is Addition Financial Credit Union a legitimate nonprofit?
- Yes. Addition Financial Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 59-0678236, based in Lake Mary, Florida.
- What is Addition Financial Credit Union's EIN?
- Addition Financial Credit Union's Employer Identification Number (EIN) is 59-0678236.
- How much revenue does Addition Financial Credit Union report?
- Addition Financial Credit Union reported $172,550,204 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Addition Financial Credit Union's spending goes to programs?
- Addition Financial Credit Union spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Addition Financial Credit Union have?
- CharityIndex grades Addition Financial Credit Union B+, based on program efficiency and fundraising cost.
- How much does Addition Financial Credit Union's highest-paid employee make?
- The highest reported compensation on Addition Financial Credit Union's latest Form 990 is $999,561, paid to Kevin Miller (President/ceo).
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Data for Addition Financial Credit Union (EIN 59-0678236) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.