Brightstar Credit Union 121, Brow Co Assn Of Media Spec in Fort Lauderdale, Florida (FL)

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Brightstar Credit Union 121, Brow Co Assn Of Media Spec
Employer Identification Number (EIN)590653174
Name of OrganizationBrightstar Credit Union 121
Secondary NameBrow Co Assn Of Media Spec
In Care of NameVICTORIA SHARROW
Address2301 Nw 26th Street Bldg 7, Fort Lauderdale, FL 33311
ActivitiesEndowment fund or financial services, Loans or credit reporting, Other services or benefits to members or employees
SubsectionCredit Union
Ruling Date10/1970
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period2008
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$423,644,579
Amount of Income$37,123,073
Form 990 Revenue Amount$29,465,282


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Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?NoNo
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?YesYes
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10965,8807,977
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return148173
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,101,347$1,181,418
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$202,279$269,127
Total number of individuals who received more than $100,000 of reportable compensation from the organization67
Total number of independent contractors who received more than $100,000 of compensation from the organization13
Statement of Revenue
201120122013
Total revenue$24,641,488$27,971,121$29,465,282
Contributions, Gifts, Grants and Other Similar Amounts$0$0$0
Program Service Revenue$14,926,382$17,684,303$20,593,352
Credit Unions $17,684,303$20,593,352
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,369,302$1,036,695$881,626
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$192,127$-71,557$-2,163,892
Gross amount from sales of assets other than inventory (Securities / Other)$3,305,678 / $378,355$0 / $1,383,981$0 / $5,493,899
Less: cost or other basis and sales expenses (Securities / Other)$3,183,628 / $308,278$0 / $1,455,538$0 / $7,657,791
Gain or (loss) (Securities / Other)$122,050 / $70,077$0 / $-71,557$0 / $-2,163,892
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$8,153,677$9,321,680$10,154,196
Credit Unions $6,201,017$6,591,304
Credit Unions $3,120,663$3,562,892
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$21,255,162$18,831,762$25,217,699
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$382,068$458,432$500,170
Compensation not included above, to disqualified persons$5,119,023$5,662,247
Other salaries and wages$0$0$0
Pension plan accruals and contributions$157,872$22,642
Other employee benefits$638,561$597,155
Payroll taxes$425,563$461,211$552,173
Fees for services (non-employees)
Management$0$0
Legal$94,419$103,969
Accounting$99,973$122,845
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$0$0
Advertising and promotion$743,882$949,128
Office expenses$3,666,085$4,071,960
Information technology$476,784$535,985
Royalties$0$0
Occupancy$1,003,863$1,086,529
Travel$20,417$23,237
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$183,097$222,098
Interest$1,335$147
Payments to affiliates$0$0
Depreciation, depletion, and amortization$698,663$637,044
Insurance$312,002$289,194
Other expenses$1,446,046$1,714,702
Other expenses$2,215,148$6,620,048
Other expenses$1,034,949$1,506,426
Balance Sheet
201120122013
Total assets$349,356,301$382,217,389$423,644,579
Cash - non-interest-bearing$6,276,577$4,897,587
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$0$0
Accounts receivable, net$596,728$341,650
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$155,022$125,906
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$293,709,889$313,126,231
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$4,073,722$5,206,369
Land, buildings, and equipment: cost or other basis$11,357,034$11,647,353
Investments - publicly traded securities$56,537,707$74,400,629
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$9,510,710$13,898,854
Total liabilities$318,744,107$342,539,085$379,984,104
Accounts payable and accrued expenses$4,103,869$3,633,037
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$239,668$240,728
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$338,195,548$376,110,339
Total net assets or fund balances$30,612,194$39,678,304$43,660,475
Unrestricted net assets$0$0
Temporarily restricted net assets$0$0
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$30,612,194$39,678,304$43,660,475
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:Not provided
Number of organizations supported0
Sum of amounts of support$0
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20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateState Chartered Credit Unions In Florida, Bay Credit Union601 N Highway 231, Panama City, FL 32405-4705FL1972-02$4,388,953
CentralState Charter Credit Unions In Florida Group ReturnOffice Of Comptroller, Tallahassee, FL 32399FL1972-02$0
SubordinateVystar Credit Union, Vfw District 6 Vfw D-6P O Box 782, Orange Park, FL 32067FL1972-02$247,053,411
SubordinateState Chartered Credit Unions In Florida, Space Coast Credit Union8045 N Wickham Rd, Melbourne, FL 32940-7920FL1970-10$181,561,719
SubordinateEastern Financial Florida Credit Union, 669 Charter8045 N Wickham Rd, Melbourne, FL 32940-7920FL1972-02$112,898,839
SubordinateState Chartered Credit Unions In Florida, Fairwinds Credit Union3087 N Alafaya Trl, Orlando, FL 32826-3205FL1972-02$110,943,853
SubordinateState Chartered Credit Unions In Florida, Tropical Financial Credit Union3050 Corporate Way, Miramar, FL 33025-6548FL1970-10$84,302,402
SubordinateState Chartered Credit Unions In Florida, First Florida Credit Union500 W 1st St, Jacksonville, FL 32202-3939FL1970-10$78,470,924
SubordinateState Chartered Credit Unions In Florida, Campus Usa Credit UnionPO BOX 147029, Gainesville, FL 32614-7029FL1972-02$69,853,556
SubordinateState Chartered Credit Unions In Florida, Community First Credit Union Of Flo637 N Lee St, Jacksonville, FL 32204-1141FL1970-10$69,153,433
SubordinateState Chartered Credit Unions In Florida, Achieva Credit UnionPO BOX 1500, Dunedin, FL 34697-1500FL1970-10$56,729,958
Subordinate121 Financial Credit Union9700 Touchton Rd, Jacksonville, FL 32246-8227FL1970-10$54,782,160
SubordinateState Chartered Credit Unions In Florida, Envision Credit UnionPO BOX 5198, Tallahassee, FL 32314-5198FL1970-10$53,278,653
SubordinateState Chartered Credit Unions In Florida, Florida Credit UnionPO BOX 5549, Gainesville, FL 32627-5549FL1970-11$47,888,352
SubordinateBrightstar Credit Union 121, Brow Co Assn Of Media Spec2301 Nw 26th Street Bldg 7, Fort Lauderdale, FL 33311FL1970-10$37,123,073
SubordinateSarasota Coastal Credit Union, 253 St Chartered Cr Unions In Fl7349 Merchant Ct, Sarasota, FL 34240-8437FL1970-10$34,019,628
SubordinateState Chartered Credit Unions In Florida, Otto Wettstein Jr ClubPO BOX 490048 MS, Leesburg, FL 34749FL1972-02$30,040,778
SubordinateFirst Commerce Credit Union2073 Summit Lake Dr Ste 100, Tallahassee, FL 32317-7949FL1972-02$28,306,916
SubordinateState Chartered Credit Unions In Florida, City County Credit Union Of Fort La1982 N State Road 7, Margate, FL 33063-5710FL1970-10$25,710,619
SubordinateState Chartered Credit Unions In Florida, Power Financial Credit Union2020 Nw 150th Ave, Pembroke Pnes, FL 33028-2805FL1972-02$25,397,686
Number of affiliated organizations
Florida87
Total87

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