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Innovations Financial Credit Union

  • Panama City, FL
  • Tax-exempt since Feb. 2023
  • EIN: 59-0706843

Organization summary

Type of Nonprofit

Designated as a State-chartered credit unions and mutual reserve funds.

Category: Public, Society Benefit — Multipurpose and Other / Credit Unions (NTEE)

Donations to this organization are not tax deductible.

Details

According to its Dec. 2024 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$35.3M (2024)

Expenses
$32.8M (2024)

Total Assets
$615M (2024)

Total Liabilities
$573M (2024)

Source: Form 990 tax filings from 2022 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$35,305,173
Expenses
$32,767,483
Net Income
$2,537,690
Net Assets
$41,668,517
Notable Sources of Revenue Percent of Total Revenue
Contributions $165,855
0.5%
Program Services $30,936,287
87.6%
Investment Income $4,203,031
11.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $2,241,393
6.8%
Professional Fundraising Fees $0
Other Salaries and Wages $5,852,866
17.9%
Assets/Debt
Total Assets $615,037,932
Total Liabilities $573,369,415
Net Assets $41,668,517
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
David Southall (President/Ceo) $468,245 $0 $55,603
Michael Gladden (Evp/Coo) $405,544 $0 $76,869
Jeremy Hinton (Svp/Cfo) $323,155 $0 $68,758
Daniel Chaplik (Director Operations/Lending/Collections/Facilities) $241,988 $0 $52,446
Charles Powell (Director Business & Mortgage Lending) $234,987 $0 $52,998
Kenneth Mitchell (Market Leader Northern Panhandle Region) $219,158 $0 $41,642
Angelia Burnett (Director Projects) $173,822 $0 $43,012
Robert Guice (It Director) $150,314 $0 $25,956
Ruth Parker (Marketing Director) $145,590 $0 $27,128
Jonathan Smiley (Business Lending Manager) $133,371 $0 $33,421
Teresa Alexander (Senior Accountant) $130,041 $0 $21,196
Craig Ellis (Board Chair) $0 $0 $0
Nancy Luther (Board Vice Chair) $0 $0 $0
Joshua Scribner (Board Secretary) $0 $0 $0
Kristopher Mclane (Board Treasurer) $0 $0 $0
Rob Fernandez (Board Director) $0 $0 $0
Ken White (Board Director) $0 $0 $0
Anita Borughton (Board Director) $0 $0 $0
Kim Johns (Board Director) $0 $0 $0
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Document Links

990
Filed on Nov. 18, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$26,668,120
Expenses
$22,311,716
Net Income
$4,356,404
Net Assets
$39,524,789
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $18,759,233
70.3%
Investment Income $725,113
2.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $45,238
0.2%
Net Inventory Sales $0
Other Revenue $7,138,536
26.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,110,544
5.0%
Professional Fundraising Fees $0
Other Salaries and Wages $5,319,212
23.8%
Assets/Debt
Total Assets $428,396,918
Total Liabilities $388,872,129
Net Assets $39,524,789
Compensation
Key Employees and Officers Compensation Related Other
David Southall (Ceo) $437,176 $0 $5,058
Scott Gladden (Evpcoo) $366,671 $0 $6,080
Jeremy Hinton (Svpcfo) $306,697 $0 $0
David Powell (Dir Of Bus & Mtg Lending) $218,331 $0 $0
Dan Chaplik (Dir Of Branch Operation) $218,331 $0 $0
Kenny Ray Mitchell (Market Leader) $212,840 $0 $0
Angie Burnett (Director Of Projects) $171,588 $0 $13,605
Robert Guice (Marketing Director) $147,817 $0 $0
Kristopher Mclane (Treasurer) $0 $0 $0
Nancy Luther (Vice Chair) $0 $0 $0
Craig Ellis (Chairman) $0 $0 $0
Josh Scribner (Secretary) $0 $0 $0
Kenneth White (Director) $0 $0 $0
Rob Fernandez (Director) $0 $0 $0
Anita Broughton (Director) $0 $0 $0
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Document Links

990
Filed on Sept. 9, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$22,495,868
Expenses
$15,947,213
Net Income
$6,548,655
Net Assets
$35,405,793
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $14,150,468
62.9%
Investment Income $455,919
2.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $7,889,481
35.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $6,038,794
37.9%
Assets/Debt
Total Assets $367,562,433
Total Liabilities $332,156,640
Net Assets $35,405,793
Compensation
Key Employees and Officers Compensation Related Other
David Southall (Ceo) $412,846 $0 $5,150
Scott Gladden (Evpcoo) $335,512 $0 $7,302
Jeremy Hinton (Svpcfo) $289,377 $0 $0
David Powell (Dir Of Bus & Mtg Lending) $197,892 $0 $0
Dan Chaplik (Dir Of Branch Operation) $192,331 $0 $0
Kenny Ray Mitchell (Market Leader) $170,000 $0 $0
Angie Burnett (Director Of Projects) $162,573 $0 $7,110
Ruthie Parker (Marketing Director) $129,224 $0 $0
Kristopher Mclane (Treasurer) $0 $0 $0
Nancy Luther (Vice Chair) $0 $0 $0
Craig Ellis (Chairman) $0 $0 $0
Josh Scribner (Secretary) $0 $0 $0
Kenneth White (Director) $0 $0 $0
Rob Fernandez (Director) $0 $0 $0
Anita Broughton (Director) $0 $0 $0
+ View more people

Document Links

990
Filed on Oct. 27, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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About Nonprofit Explorer

Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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