First Federal Credit Union Foundation
- Assets
- $289.2k
- Revenue
- $32.7k
- Investments
- $178.7k
- Employees
- 0
- Location
- Hiawatha, IA
- Founding
- 11/2018
- Data as of
- 12/2023
- EIN
- 82-5181234
Organization Overview
First Federal Credit Union Foundation is located in Hiawatha, IA. The organization was established in 2018. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. First Federal 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 12/2023, First Federal Credit Union Foundation generated $32.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 34.1% each year . All expenses for the organization totaled $19.7k during the year ending 12/2023. While expenses have increased by 4.1% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Netolicky Vice President | 0.5 | $0 | |
Geneva Williams Director | 0.5 | $0 | |
Mary Lawrence President | 0.5 | $0 | |
Nancy Kahle Director | 0.5 | $0 | |
Tom Chalstrom Director | 0.5 | $0 | |
Tracy Jackson Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $16,032 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,398 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,269 |
| Capital Gain Net Income | $10,269 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $32,699 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $286 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,110 |
| Total operating and administrative expenses | $4,724 |
| Contributions, gifts, grants paid | $14,950 |
| Total expenses and disbursements | $19,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,116 |
| Savings and temporary cash investments | $109,423 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| 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 | $178,709 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $289,248 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, First Federal Credit Union Foundation has awarded $14,950 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ADONIS KUUNDU PURPOSE: FFCU SCHOLARSHIP | $1,000 |
AFRICAN AMERICAN FAMILY RESILIENCY PURPOSE: EDUCATIONAL PROGRAMS FOR YOUTH | $1,500 |
ARC OF EAST CENTRAL IOWA PURPOSE: PLAYGROUND | $500 |
BIG BROTHERS BIG SISTERS PURPOSE: YOUTH PROGRAMMING EVENT SPONSOR -BOWL4KIDS EVENT | $1,000 |
CENTER POINT URBANA FELLOWSHIP OF CHRISTIAN ATHLETES PURPOSE: FUND RAISING EVENT | $100 |
FREEDOM FOUNDATION PURPOSE: VETERANS PANTRY | $1,000 |