Western Union Foundation Inc
- Assets
- $5.5m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 02/2001
- Data as of
- 12/2023
- EIN
- 31-1738614
Organization Overview
Western Union Foundation Inc is located in Denver, CO. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Union Foundation Inc 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 12/2023, Western Union Foundation Inc generated $7.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $5.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Western Union Foundation Inc has awarded 1,672 individual grants totaling $23,126,648. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTERN UNION FOUNDATION, A CHARITABLE CORPORATION INCORPORATED IN THE STATE OF COLORADO ON JULY 20, 1999 AS A PHILANTHROPIC ORGANIZATION, FACILITATES CHARITABLE GIVING PROGRAMS WORLDWIDE. THROUGH THE DONATIONS OF THE WESTERN UNION COMPANY (WESTERN UNION), ITS EMPLOYEES, AGENTS, VENDORS, BUSINESS UNITS, CUSTOMERS, AND OTHER BUSINESS PARTNERS, WESTERN UNION FOUNDATION AND SUBSIDIARIES SUPPORT TRAINING, EDUCATION, AND DISASTER RELIEF EFFORTS AS A PATHWAYS TOWARD ECONOMIC OPPORTUNITY AND A BETTER FUTURE. TO DATE, WESTERN UNION FOUNDATION HAS FUNDED MORE THAN 140 MILLION FOR PROJECTS AND SCHOLARSHIPS GLOBALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Adams Chair | 2 | $0 | |
Karen Wolf Treasurer | 2 | $0 | |
Sobia Rahman Board Member | 1 | $0 | |
Sohini Rajola Board Member | 1 | $0 | |
Tyler Mcpherson-Wiman Board Member | 1 | $0 | |
Rodrigo Garcia Estebarena Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Plante Moran | 12/30/22 | $53,561 |
Andavo Event Planning | 12/30/22 | $52,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,387,652 |
| Interest on Savings | $172,784 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,313 |
| Total Revenue | $7,564,749 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $190,784 |
| Other employee salaries and wages | $461,342 |
| Pension plans, employee benefits | $120,810 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $16,517 |
| Printing and publications | $0 |
| Other expenses | $112,124 |
| Total operating and administrative expenses | $930,727 |
| Contributions, gifts, grants paid | $4,339,573 |
| Total expenses and disbursements | $5,270,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,111,168 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $386,871 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,472 |
| Total assets | $5,500,511 |
| Accounts payable and accrued expenses | $289,146 |
| Grants payable | $1,281,534 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $200,000 |
| Total liabilities | $1,770,680 |
Grants Awarded
Over the last fiscal year, Western Union Foundation Inc has awarded $5,507,508 in support to 342 organizations.
| Grant Recipient | Amount |
|---|---|
RECODED PURPOSE: WORKFORCE / EDUCATION | $225,000 |
WATSON PURPOSE: WORKFORCE / EDUCATION | $400,000 |
IRC - VOLUNTEERISM PURPOSE: WORKFORCE / EDUCATION | $5,000 |
FORWARD INCUBATOR PURPOSE: WORKFORCE / EDUCATION | $200,000 |
METROPOLITAN STATE UNIVERSITY OF D PURPOSE: WORKFORCE / EDUCATION | $147,039 |
PLAN INTERNATIONAL - PHILIPPINES PURPOSE: WORKFORCE / EDUCATION | $309,598 |