Centricity Credit Union Foundation Inc
- Assets
- $12.9k
- Revenue
- $10.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Hermantown, MN
- Founding
- Data as of
- 12/2022
- EIN
- 85-3743819
Organization Overview
Centricity Credit Union Foundation Inc is located in Hermantown, MN. 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. Centricity 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, Centricity Credit Union Foundation Inc generated $10.9k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $8.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WILL EDUCATE INDIVIDUALS IN AND AROUND ST. LOUIS COUNTY MN ON BUILDING SMART FINANCIAL HABITS BY PROVIDING THIS EDUCATION THE FOUNDATION WILL ASSIST INDIVIDUALS IN GAINING FINANCIAL IMPENDENCE THUS IMPROVING AN INDIVIDUAL'S QUALITY OF LIFE. IN 2022 THE FOUNDATION WAS LAYING THE GROUNDWORK FOR THESE PROGRAMS. COVID DELAYED OUR FUNDRAISING EFFORTS. IN 2022 WE HELD OUR FIRST CHARITABLE GIVING CAMPAIGN.
THE MANAGEMENT AND ADMINISTRATIVE COSTS INCURRED TO OPERATE THE FOUNDATION DIRECTLY SUPPORT AND ARE NECESSARY TO CARRY THE CHARITABLE PROGRAMS AND ACTIVITIES CONDUCTED BY THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Ralston President | 1 | $0 | |
Erin Olson Secretary | 1 | $0 | |
Sharesse Edwards Director | 1 | $0 | |
Connie Carter Treasurer | 1 | $0 | |
Mark Thorsten Director | 1 | $0 | |
Scott Christensen Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,931 |
| Interest on Savings | $0 |
| 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 | $0 |
| Total Revenue | $10,931 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,742 |
| Total operating and administrative expenses | $4,712 |
| Contributions, gifts, grants paid | $3,262 |
| Total expenses and disbursements | $7,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,903 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $12,903 |
| Accounts payable and accrued expenses | $755 |
| 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 | $755 |
Grants Awarded
Over the last fiscal year, Centricity Credit Union Foundation Inc has awarded $3,262 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BENEVOLENT GIVING LESS THAN 2000 PURPOSE: PROGRAM SUPPORT | $1,762 |
DICK VEECH SCHOLARSHIP PURPOSE: SCHOLARSHIP RECIPIENT | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |
Peo Sisterhood International Chapter Des Moines, IA | $85,884,604 | $5,248,161 |
Herb Kohl Educational Foundation Inc Milwaukee, WI | $133,385 | $3,506,418 |
Valley Senior Living Grand Forks, ND | $804,854 | $3,496,436 |
Ab Nicholas Scholarship Foundation Mequon, WI | $58,753,687 | $6,013,180 |
Hemophilia Outreach Of Wisconsin Inc Green Bay, WI | $38,605,342 | $5,343,718 |
C H Robinson Worldwide Foundation Sioux Falls, SD | $19,568,040 | $4,443,280 |
Delta Dental Of Wisconsin Foundation Inc Stevens Point, WI | $16,778,803 | $4,566,346 |