New York Credit Union Foundation

Organization Overview

New York Credit Union Foundation is located in Albany, NY. The organization was established in 1997. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Credit Union Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, New York Credit Union Foundation generated $185.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $143.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FOSTERING THE FINANCIAL INDEPENDENCE OF NEW YORKERS THROUGH CREDIT UNIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

GRANTMAKING PROGRAMS INCLUDE PROFESSIONAL DEVELOPMENT GRANTS, FINANCIAL FITNESS GRANTS AND SMART MONEY GRANTS. PROFESSIONAL DEVELOPMENT GRANTS PROVIDE FUNDS FOR THE EDUCATION AND TRAINING OF CREDIT UNION EMPLOYEES AND VOLUNTEERS. FINANCIAL FITNESS GRANTS HELP FUND GENERAL OPERATING NEEDS OF CREDIT UNIONS THAT WILL ULTIMATELY HELP IMPROVE MEMBER SERVICE. SMART MONEY GRANTS HELP FUND PROGRAMS AND SERVICES THAT PROMOTE FINANCIAL LITERACY AND INDEPENDENCE.


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Board, Officers & Key Employees

Name (title)Compensation
William J Mellin
Trustee
$0
Kaleb Wilson
Vice Chairperson
$0
Daniel Keleher
Trustee
$0
Mark Welshoff
Trustee
$0
Craig Booth
Trustee
$0
Carol Allen
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$132,902
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$27,769
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$160,671
Total Program Service Revenue$0
Investment income $18,173
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$706
Net Income from Fundraising Events $7,775
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $185,913

Grants Recieved

Over the last fiscal year, we have identified 2 grants that New York Credit Union Foundation has recieved totaling $7,832.

Awarding OrganizationAmount
New York Credit Union Association Inc

Albany, NY

PURPOSE: Charitable Donation

$7,750
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$82
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$538,723
Earnings$6,953
Net Contributions$1,000
Grants$6,953
Ending Balance$539,723

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