National Credit Union Foundation Inc
- Assets
- $12.6m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 13
- Location
- Madison, WI
- Founding
- 07/1981
- Data as of
- 12/2022
- EIN
- 39-1383650
Organization Overview
National Credit Union Foundation Inc is located in Madison, WI. The organization was established in 1981. According to its NTEE Classification (W12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, National Credit Union Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Credit 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 12/2022, National Credit Union Foundation Inc generated $6.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $4.4m during the year ending 12/2022. While expenses have increased by 2.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, National Credit Union Foundation Inc has awarded 122 individual grants totaling $5,057,995. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
A CATALYST TO IMPROVE PEOPLE'S FINANCIAL LIVES THROUGH CREDIT UNIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISASTER RELIEF: THROUGH THE NATIONAL CREDIT UNION FOUNDATION'S DISASTER RELIEF FUND & CUAID INITIATIVE, THE FOUNDATION CAN QUICKLY RESPOND WHEN DISASTERS STRIKE BY HARNESSING THE COLLECTIVE GENEROSITY OF CREDIT UNIONS, INDIVIDUALS AND OTHER STAKEHOLDERS. CUAID RAISES DONATIONS THAT SUPPORT CREDIT UNION EMPLOYEES AND VOLUNTEERS WHO ARE IMPACTED BY A DISASTER. THE FOUNDATION COORDINATES WITH THE STATE FOUNDATION/LEAGUE PARTNERS WITHIN THE GEOGRAPHIC AREA WHERE THE DISASTER HAPPENS TO ASSESS AND RESPOND TO NEEDS. MORE INFORMATION IS AVAILABLE AT: 2020 DISASTER RELIEF PLAY BOOK (NCUF.COOP).
OTHER PROGRAMS.
CREDIT UNION DEVELOPMENT EDUCATION (DE) PROGRAM: THE DE PROGRAM IS AN EDUCATION PROGRAM FOR ESTABLISHED AND EMERGING LEADERS WITHIN THE CREDIT UNION MOVEMENT. THIS PROGRAM EXPLORES HOW CREDIT UNIONS CAN LEVERAGE THEIR UNIQUE BUSINESS MODEL TO SOLVE CORE DEVELOPMENT ISSUES THAT PREVENT THE PROSPERITY AND FINANCIAL WELL-BEING OF THEIR MEMBERS AND COMMUNITIES. PARTICIPANTS TAKE PART IN A NUMBER OF LESSONS, ACTIVITIES AND GROUP PROJECTS TO DEMONSTRATE EFFECTIVE LEARNING AND POTENTIAL FOR APPLICATION. UPON COMPLETION, ATTENDEES EARN THEIR CREDIT UNION DEVELOPMENT EDUCATOR (CUDE) DESIGNATION. THE DE PROGRAM IS OFFERED AS AN IN-PERSON AND ONLINE TRAINING. SINCE 1982, MORE THAN 2,500 CREDIT UNION PROFESSIONALS HAVE EARNED THEIR CUDE DESIGNATION AND USED THIS NEW KNOWLEDGE TO IMPROVE THE QUALITY OF LIFE FOR THEIR MEMBERS, COLLEAGUES AND COMMUNITIES AROUND THE GLOBE. MORE INFORMATION IS AVAILABLE AT: DE PROGRAM INFORMATION (NCUF.COOP).
FINANCIAL WELL-BEING FOR ALL AND GRANT MAKING: THE NATIONAL CREDIT UNION FOUNDATION FUNDS THE EFFORTS OF CREDIT UNIONS AND OTHER NON-PROFIT ORGANIZATIONS TO MEASURE AND IMPROVE FINANCIAL HEALTH AND WELL-BEING FOR ALL. THROUGH IMPACT AND INNOVATIVE GRANTMAKING, CONVENINGS AND CONFERENCES, THE FOUNDATION HAS ASSEMBLED A ROBUST SUITE OF TOOLS AND CASE STUDIES TO HELP CREDIT UNIONS MEASURE FINANCIAL WELL-BEING, BUILD A STRATEGY, AND TAKE ACTION TO MOVE PEOPLE UP A PATH TO FINANCIAL FREEDOM. MORE INFORMATION IS AVAILABLE AT: MAKING FINANCIAL WELL-BEING FOR ALL A REALITY (NCUF.COOP).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Campbell Chair | OfficerTrustee | 1 | $0 |
John Sackett Vice Chair | OfficerTrustee | 1 | $0 |
Robert Cashman Treasurer | OfficerTrustee | 1 | $0 |
Jenny Vipperman Secretary | OfficerTrustee | 1 | $0 |
Brett Thompson Director | Trustee | 1 | $0 |
Christine Cordell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marriott Hotel Services 901 Food And Beverage For Foundation Dinner | 12/30/22 | $161,482 |
University Of Wisconsin De Training Site | 12/30/22 | $113,611 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $626,320 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,912,064 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,538,384 |
| Total Program Service Revenue | $744,438 |
| Investment income | $224,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,869 |
| Net Income from Fundraising Events | -$147,002 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,469,151 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $922,344 |
| Grants and other assistance to domestic individuals. | $51,984 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $735,720 |
| Compensation of current officers, directors, key employees. | $201,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,136,468 |
| Pension plan accruals and contributions | $58,059 |
| Other employee benefits | $231,258 |
| Payroll taxes | $113,076 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,000 |
| Fees for services: Accounting | $68,968 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $275,782 |
| Advertising and promotion | $17,781 |
| Office expenses | $11,586 |
| Information technology | $96,620 |
| Royalties | $0 |
| Occupancy | $24,651 |
| Travel | $163,542 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $311,669 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,677 |
| Insurance | $20,126 |
| All other expenses | $0 |
| Total functional expenses | $4,383,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,453 |
| Savings and temporary cash investments | $6,037,072 |
| Pledges and grants receivable | $11,500 |
| Accounts receivable, net | $106,245 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $145,951 |
| Net Land, buildings, and equipment | $21,389 |
| Investments—publicly traded securities | $6,265,030 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,602,640 |
| Accounts payable and accrued expenses | $522,857 |
| Grants payable | $723 |
| Deferred revenue | $334,269 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $857,849 |
| Net assets without donor restrictions | $6,126,899 |
| Net assets with donor restrictions | $5,617,892 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,602,640 |
Grants Awarded
Over the last fiscal year, National Credit Union Foundation Inc has awarded $258,550 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA CREDIT UNION PURPOSE: FINANCIAL WELL-BEING | $5,375 |
BIZ KIDS ENTERPRISES LLC PURPOSE: BIZ KIDS FINANCIAL EDUCATION | $50,000 |
CANOPY CREDIT UNION PURPOSE: FINANCIAL WELL-BEING | $20,000 |
CENTRAL WILLIAMETTE CREDIT UNION PURPOSE: FINANCIAL WELL-BEING | $20,000 |
CONSOLIDATED COMMUNITY CREDIT UNION PURPOSE: FINANCIAL WELL-BEING | $10,000 |
CREDIT HUMAN PURPOSE: FINANCIAL WELL-BEING | $5,375 |