Mountain West Credit Union Foundation
- Assets
- $2.2m
- Revenue
- $550.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 08/1982
- Data as of
- 12/2021
- EIN
- 74-2232424
Organization Overview
Mountain West Credit Union Foundation is located in Denver, CO. The organization was established in 1982. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mountain West 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, Mountain West Credit Union Foundation generated $550.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $453.7k during the year ending 12/2021. While expenses have increased by 5.6% per year over the past 7 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, Mountain West Credit Union Foundation has awarded 35 individual grants totaling $555,360. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS OPERATED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES. THE FOUNDATION'S MISSION IS TO PROMOTE LEADERSHIP AND SUPPORT LONG-TERM SUCCESS OF CREDIT UNIONS IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT UNION DEVELOPMENT - INCLUDING EDUCATIONAL SCHOLARSHIPS FOR UNDERGRADUATE, GRADUATE, AND OTHER PROFESSIONAL DEVELOPMENT PROGRAMS - AND INCLUDING GRANTS FUNDED FROM COMMUNITY INVESTMENT FUND (CIF) THROUGH THE NATIONAL CREDIT UNION FOUNDATION - PROJECTS TO IMPROVE THE FINANCIAL WELL BEING OF CONSUMERS, COMMUNITIES AND DEMONSTRATE THE "CREDIT UNION DIFFERENCE".
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Earl President | Officer | 2 | $0 |
Dan Santangelo Executive Director | Officer | 4 | $0 |
Todd Pearson Chairman | Trustee | 2 | $0 |
Rainy Thoen Vice Chair | Trustee | 1 | $0 |
Dennis Paul Secretary | Trustee | 1 | $0 |
Tyler Valentine Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $238,684 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $281,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $520,126 |
| Total Program Service Revenue | $750 |
| Investment income | $31,336 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $125,379 |
| Net Income from Fundraising Events | -$126,648 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $550,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $94,101 |
| Grants and other assistance to domestic individuals. | $150,102 |
| 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 | $0 |
| Fees for services: Accounting | $9,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,440 |
| Fees for services: Other | $0 |
| Advertising and promotion | $135,086 |
| Office expenses | $3,320 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,549 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $823 |
| Total functional expenses | $453,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $122,621 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,124 |
| 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 | $13,670 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,049,483 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,240,898 |
| Accounts payable and accrued expenses | $31,525 |
| 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 | $31,525 |
| Net assets without donor restrictions | $2,018,873 |
| Net assets with donor restrictions | $190,500 |
| 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 | $2,240,898 |
Grants Awarded
Over the last fiscal year, Mountain West Credit Union Foundation has awarded $25,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: DONATION | $10,000 |
Madison, WI PURPOSE: DONATION | $10,000 |
COMMONWEALTH OF KENTUCKY PURPOSE: DONATION TO TORNADO RELIEF FUND | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mountain West Credit Union Foundation has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Ent Credit Union Colorado Springs, CO PURPOSE: VOLUNTARY CONTRIBUTION | $20,000 |
One Az Credit Union Phoenix, AZ PURPOSE: UNRESTRICTED | $15,000 |
Endowment Analysis
| Beg. Balance | $183,835 |
| Earnings | $16,665 |
| Grants | $10,000 |
| Ending Balance | $190,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Communities Foundation Of Oklahoma Inc Oklahoma City, OK | $155,793,943 | $76,729,791 |
Impact Investing Charitable Foundation Inc Overland Park, KS | $59,629,063 | $92,847,262 |
Nebraska Philanthropic Trust Omaha, NE | $2,416,213 | $1,885,786 |
Omni Behavioral Health Omaha, NE | $19,278,605 | $23,477,571 |
Amg Charitable Gift Foundation Greenwood Village, CO | $149,608,626 | $31,189,759 |
Faith Charitable Trust Omaha, NE | $0 | $922,113 |
Peopleforbikes Foundation Boulder, CO | $3,836,789 | $4,747,548 |
Olathe Health System Inc Olathe, KS | $604,759,622 | $8,223,691 |
Grand Teton National Park Foundation Moose, WY | $17,490,260 | $12,374,107 |
Colorado Springs Health Foundation Colorado Springs, CO | $192,761,783 | $20,158,263 |
Community Clinics At Mrh Craig, CO | $2,546,314 | $4,871,469 |
Park City Community Foundation Park City, UT | $23,921,888 | $11,932,031 |