Pentagon Federal Credit Union Fdn Penfed Foundation
- Assets
- $8.7m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/2002
- Data as of
- 12/2022
- EIN
- 54-2062271
Organization Overview
Pentagon Federal Credit Union Fdn Penfed Foundation is located in Alexandria, VA. The organization was established in 2002. According to its NTEE Classification (N20) the organization is classified as: Camps, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pentagon Federal Credit Union Fdn Penfed 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 12/2022, Pentagon Federal Credit Union Fdn Penfed Foundation generated $7.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $4.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
MILITARY HEROES PROGRAM: THE MILITARY HEROES PROGRAM SUPPORTS THE MILITARY COMMUNITY IN THREE WAYS. 1) FUNDING FOR PROJECTS THAT HAVE A SIGNIFICANT POSITIVE IMPACT ON A SPECIFIC MILITARY COMMUNITY OR MORE BROADLY ACROSS THE ENTIRE MILITARY FAMILY. 2) SUPPORT TO INDIVIDUALS EXPERIENCING A LIFE CHANGING EMERGENCY. 3) SUPPORT TO OUR ALLIES THROUGH THE AFGHAN RESCUE AND RESETTLEMENT PROGRAM, WHICH RESETTLED AFGHAN REFUGEES IN THE UNITED STATES AFTER THE FALL OF KABUL.
ALL OTHERS
VETERAN ENTREPRENEUR INVESTMENT PROGRAM (VEIP): VEIP PROVIDES VETERAN AND MILITARY SPOUSE ENTREPRENEURS WITH EDUCATION, MENTORSHIP, AND CONNECTION TO CAPITAL TO BUILD AND GROW THEIR BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Clark VP Foundation Operations | 37.5 | $0 | |
Mrs Seda Goff Thru 1022 Dir, Veteran Entrepreneurs | 37.5 | $0 | |
Ms Deborah Lee James Chairwoman | OfficerTrustee | 2 | $0 |
Mr Fred B Caprio Vice Chair | OfficerTrustee | 1.5 | $0 |
Mrs Sandra Patricola Secretary/treasurer | OfficerTrustee | 1 | $0 |
David P Barondess Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $5,965 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,437,259 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,515,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,958,332 |
| Total Program Service Revenue | $0 |
| Investment income | $24,624 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,840,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,823,201 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,460,937 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,166 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $666,040 |
| Advertising and promotion | $15,787 |
| Office expenses | $154,128 |
| Information technology | $39,787 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $96,755 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,296,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,077,612 |
| Savings and temporary cash investments | $580,416 |
| Pledges and grants receivable | $1,278,663 |
| Accounts receivable, net | $0 |
| 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 | $90,620 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,644,421 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,671,732 |
| Accounts payable and accrued expenses | $196,606 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $196,606 |
| Net assets without donor restrictions | $6,718,639 |
| Net assets with donor restrictions | $1,756,487 |
| 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 | $8,671,732 |