Atlantic Federal Credit Union Foundation
- Assets
- $2.6m
- Revenue
- $524.9k
- Investments
- $2.4m
- Employees
- 0
- Location
- South Portland, ME
- Founding
- Data as of
- 12/2023
- EIN
- 86-2316892
Organization Overview
Atlantic Federal Credit Union Foundation is located in South Portland, ME. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Atlantic 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, Atlantic Federal Credit Union Foundation generated $524.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (36.1%) each year. All expenses for the organization totaled $180.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Atlantic Federal Credit Union Foundation has awarded 181 individual grants totaling $389,757. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ATLANTIC FEDERAL CREDIT UNION FOUNDATION AWARDS SCHOLARSHIPS AND GRANTS TO INDIVIDUALS RESIDING IN, AND 501(C)(3) ORGANIZATIONS SERVING AND OPERATING IN COMMUNITIES SERVICED BY THE ATLANTIC REGIONAL FEDERAL CREDIT UNION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Mcgorrill President | 0 | $0 | |
Howard Dupee Treasurer | 0 | $0 | |
Rachel Newman Secretary | 0 | $0 | |
Donna Hodgdon Director | 0 | $0 | |
Kim Anania Director | 0 | $0 | |
Renee Oyster Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $427,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $105,043 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,180 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $524,863 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $400 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $23,200 |
| Contributions, gifts, grants paid | $157,427 |
| Total expenses and disbursements | $180,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,755 |
| Savings and temporary cash investments | $101,923 |
| 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 | $13,546 |
| Total assets | $2,565,105 |
| 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, Atlantic Federal Credit Union Foundation has awarded $157,427 in support to 71 organizations.
| Grant Recipient | Amount |
|---|---|
ALL SAINTS PARISH PURPOSE: GENERAL SUPPORT | $100 |
ALEX LABBE FOUNDATION PURPOSE: GENERAL SUPPORT | $100 |
AUTISM SOCIETY OF MAINE PURPOSE: GENERAL SUPPORT | $200 |
AMERICAN CANCER SOCIETY INC PURPOSE: GENERAL SUPPORT | $500 |
BIDDEFORD HIGH SCHOOL PURPOSE: GENERAL SUPPORT | $300 |
ADOPTIVE AND FOSTER FAMILIES OF MAINE INC PURPOSE: GENERAL SUPPORT | $250 |