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Nonprofiteer
← FRANKLIN MINT FEDERAL CREDIT UNIONFOUNDATION INC

Form 990 for tax year 2022

Filed by FRANKLIN MINT FEDERAL CREDIT UNIONFOUNDATION INC.

Totals

Total revenue
$412,362
Total expenses
$143,596
Contributions and grants received
$299,946
Grants paid
$55,232
Program service revenue
$37,463
Investment income
$0
Other revenue
$74,953
Total assets, end of year
$581,818
Total liabilities, end of year
$15,000
Net assets or fund balances, end of year
$566,818
Program services expenses (Part IX)
$140,558
Management and general expenses
$3,038
Fundraising expenses
$0
Program service expenses (Part III)
$140,558

Program services were 97.9% 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

    $13,770

  • 1f · All other contributions, gifts and grants

    $286,176

  • 2a · Program service revenue: DCIU MANAGEMENT INCOME

    total $30,450 · related or exempt $30,450

  • 2b · Program service revenue: PARTNERS IN LEARNING

    total $7,013 · related or exempt $7,013

  • 8a · Fundraising events: gross income

    $106,922

  • 8a · Fundraising events: contributions included on line 1c

    $13,770

  • 8b · Fundraising events: direct expenses

    $31,969

  • 8c · Net income from fundraising events

    total $74,953 · excluded $74,953

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,232 · program services $55,232

  • 7 · Other salaries and wages

    total $8,125 · program services $8,125

  • 11c · Fees: accounting

    total $150 · management and general $150

  • 11g · Fees: other

    total $1,435 · management and general $1,435

  • 13 · Office expenses

    total $1,393 · management and general $1,393

  • 24a · Other expenses: PARTNERS IN LEARNING

    total $66,197 · program services $66,197

  • 24b · Other expenses: DELCO HI-Q

    total $11,004 · program services $11,004

  • 24c · Other expenses: MISCELLANEOUS OPERATING

    total $60 · management and general $60

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $194,558 · end of year $526,538

  • 3 · Pledges and grants receivable

    beginning of year $103,494 · end of year $55,280

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $15,000

  • 27 · Net assets without donor restrictions

    beginning of year $199,508 · end of year $516,818

  • 28 · Net assets with donor restrictions

    beginning of year $98,544 · end of year $50,000

Mission and programs · 2022

Mission

THE FMFCU FOUNDATION IS THE CHARITABLE ARM OF THE FRANKLIN MINT FEDERAL CREDIT UNION WHOSE PRIMARY MISSION IS TO COLLECT AND DISTRIBUTE FUNDS THAT SUPPORT CHARITABLE CAUSES AS WELL AS THE IMPLEMENTATION OF FINANCIAL LITERACY INITIATIVES IN THE COMMUNITY.

Activities or mission (Part I)

CHARITABLE ARM OF FRANKLIN MINT FEDERAL CU MISSION TO SUPPORT CHARITABLE CAUSES AND EDUCATION.

  • THE FOUNDATION PARTNERS WITH THE DELAWARE COUNTY INTERMEDIATE UNIT IN PRESENTING THE COUNTY'S PREMIER EDUCATION RECOGNITION EVENT. THE EVENT ACKNIWLEDGES AND PROMOTES ACADEMIC ACCOMPLISHMENT IN A WAY THAT IS SIMILAR TO RECOGNIZING ATHLETIC ABILITY. THE BANQUET HONORS STUDENTS AND EDUCATORS, INCLUDING THE STUDENTS WHO PARTICIPATE IN THE DELCO HI-Q ACADEMIC QUIZ COMPETITION AND THEIR ADVISORS, RECIPIENT OF THE EXCELLENCE IN TEACHING AWARDS, SCHOLARSHIP RECIPIENTS, AND COMMUNITY NON-PROFITS. ALL HONOREES ATTEND THE EVENT AT NO COST. THE BANQUET REGULARLY DRAWS AS MANT AS 500 GUESTS.

    Expenses $85,326 · Revenue $37,463

  • TEACHER MINI GRANTS - FRANKLIN MINT FEDERAL CREDIT UNION FOUNDATION FUNDS INNOVATIVE EDUCATIONAL EXPERIENCES FOR K-12 STUDENTS THAT MAY NOT OTHERWISE BE FUNDED IN THE SCHOOL YEAR. TEACHERS MAY REQUEST FUNDS FOR CLASSROOM SUPPLIES, TECHNOLOGY, BOOKS, FUNDING FOR CLASSROOM PROJECTS OR PROGRAMS. AMOUNTS GIVEN ARE UP TO $500 PER APPLICANT. APPLICANTS MUST TEACH AT A SCHOOL LOCATED IN CHESTER, DELAWARE, MONTGOMERY, NEW CASTLE COUNTIES, WEST PHILADELPHIA, OR UNIVERSITY CITY.

    Expenses $27,732 · Grants $27,732

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $27,500 · Grants $27,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • DR HARRY J JAMISON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MARIA ROLSTON

    VICE PRESIDENT/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL B MAGNAVITA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DR LOIS SNYDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR JOSEPH O'BRIEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM TAYLOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATE MCGEEVER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHONETTE HARRISON-CAREW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR GEORGE STEINHOFF

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD V DURANTE JR

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    16

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.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
13 September 2023
IRS schema version
2022v5.0
Source object
202303199349314820

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