Form 990 for tax year 2023
Filed by CAROLINAS CREDIT UNION FOUNDATION INC.
Totals
- Total revenue
- $4,359,588
- Total expenses
- $3,804,218
- Contributions and grants received
- $4,125,628
- Grants paid
- $3,413,154
- Program service revenue
- $0
- Investment income
- $201,837
- Other revenue
- $32,123
- Total assets, end of year
- $5,211,747
- Total liabilities, end of year
- $86,571
- Net assets or fund balances, end of year
- $5,125,176
- Program services expenses (Part IX)
- $3,632,833
- Management and general expenses
- $112,825
- Fundraising expenses
- $58,560
- Program service expenses (Part III)
- $3,632,833
Program services were 95.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$110,000
-
1f · All other contributions, gifts and grants
$4,015,628
-
1g · Noncash contributions included above
$8,987
-
3 · Investment income
total $178,837 · excluded $178,837
-
7a · Gross sales of assets other than inventory
securities $23,000
-
7c · Gain or loss
securities $23,000
-
7d · Net gain or loss
total $23,000 · related or exempt $23,000
-
8a · Fundraising events: gross income
$157,368
-
8a · Fundraising events: contributions included on line 1c
$110,000
-
8b · Fundraising events: direct expenses
$125,245
-
8c · Net income from fundraising events
total $32,123 · excluded $32,123
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,695,652 · program services $2,695,652
-
2 · Grants to domestic individuals
total $717,502 · program services $717,502
-
7 · Other salaries and wages
total $239,559 · program services $155,713 · management and general $47,912 · fundraising $35,934
-
9 · Other employee benefits
total $36,246 · program services $23,560 · management and general $7,249 · fundraising $5,437
-
10 · Payroll taxes
total $17,903 · program services $11,637 · management and general $3,581 · fundraising $2,685
-
11c · Fees: accounting
total $12,300 · management and general $12,300
-
11g · Fees: other
total $33,807 · program services $21,975 · management and general $6,761 · fundraising $5,071
-
13 · Office expenses
total $1,924 · program services $1,250 · management and general $385 · fundraising $289
-
16 · Occupancy
total $8,529 · program services $5,544 · management and general $1,706 · fundraising $1,279
-
17 · Travel
total $19,323 · management and general $11,458 · fundraising $7,865
-
19 · Conferences, conventions and meetings
total $3,595 · management and general $3,595
-
22 · Depreciation, depletion and amortization
total $14,393 · management and general $14,393
-
23 · Insurance
total $3,485 · management and general $3,485
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,998,007 · end of year $2,943,638
-
2 · Savings and temporary cash investments
beginning of year $500,000 · end of year $1,000,000
-
4 · Accounts receivable
beginning of year $186,622 · end of year $103,014
-
10a · Land, buildings and equipment: cost or other basis
$65,524
-
10b · Land, buildings and equipment: accumulated depreciation
$19,789
-
10c · Land, buildings and equipment, net
beginning of year $11,019 · end of year $45,735
-
12 · Investments: other securities
beginning of year $1,022,664 · end of year $1,119,360
-
17 · Accounts payable and accrued expenses
beginning of year $198,343 · end of year $76,824
-
19 · Deferred revenue
beginning of year $46,859 · end of year $9,747
-
27 · Net assets without donor restrictions
beginning of year $4,473,110 · end of year $5,125,176
Mission and programs · 2023
Mission
TO PROVIDE EDUCATIONAL SCHOLARSHIPS, AND TO PROVIDE ASSISTANCE TO CREDIT UNIONS IN NORTH AND SOUTH CAROLINA, AND SPECIAL PROJECTS.
Activities or mission (Part I)
ASSIST CREDIT UNIONS WITH CHARITABLE GIVING BY PROVIDING SCHOLARSHIPS AND COMMUNITY GRANTS.
-
OUR FOUNDATION SERVES AS A PHILANTROPIC PARTNER TO ALL CREDIT UNIONS IN THE CAROLINAS THROUGH: EMPOWERING SOCIAL RESPONSIBILITY EFFORTS THAT ARE SELF- DIRECTED BY CREDIT UNIONS, CHAPTERS AND BUSINESS PARTNERS; INSPIRING CREDIT UNIONS BY SHARING AND CELEBRATING PHILANTHROPIC EFFORTS; AND COLLABORATING ON PROGRAMS AND PROJECTS THAT SUPPORT OUR COOPERATIVE PRINCIPLE OF CONCERN FOR THE COMMUNITY. OUR MISSION IS TO EMPOWER AND INSPIRE CREDIT UNIONS IN THE CAROLINAS THROUGH COLLABORATIVE OPPORUNITIES TO ENRICH OUR COMMUNITIES.
Expenses $3,632,833 · Grants $3,413,154
As filed on the 2023 return.
Listed in Part VII
-
Lauren WhaleyLAUREN WHALEY
EXECUTIVE DI
- Total calculated
- $187,122
- From this org
- $163,886
- From related orgs
- $0
- Other
- $23,236
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $163,886
- Bonus
- not reported
- Other
- not reported
- Deferred
- $18,640
- Nontaxable benefits
- $4,596
- Filer's total
- $187,122
-
Jesscia BakerJESSCIA BAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Creighton BlackwellCREIGHTON BLACKWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Leigh BradyLEIGH BRADY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
David BrehmerDAVID BREHMER
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Bob BrunsBOB BRUNS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frankie DedonatoFRANKIE DEDONATO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Precious McCloudPRECIOUS MCCLOUD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer ParkerJENNIFER PARKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Liz PonderLIZ PONDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ashley RuffinASHLEY RUFFIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dan SchlineDAN SCHLINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brian SponaugleBRIAN SPONAUGLE
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Sam WhitehurstSAM WHITEHURST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott WoodsSCOTT WOODS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Genice DecorteGENICE DECORTE
TREASURER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$112,500
GENERAL SUPPORT
-
$40,000
GENERAL SUPPORT
-
GENERAL SUPPORT
-
CATHOLIC CHARITIES OF THE DIOC
$30,000
GENERAL SUPPORT
-
$25,000
GENERAL SUPPORT
-
$25,000
GENERAL SUPPORT
-
GREENVILLE TECH FOUNDATION INC
$25,000
GENERAL SUPPORT
-
$25,000
GENERAL SUPPORT
-
$25,000
GENERAL SUPPORT
-
$25,000
GENERAL SUPPORT
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 24 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411229349300736
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