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← FEDCHOICE CHARITABLE FOUNDATION INC

Form 990 for tax year 2024

Filed by FEDCHOICE CHARITABLE FOUNDATION INC.

Totals

Total revenue
$523,056
Total expenses
$210,831
Contributions and grants received
$521,053
Grants paid
$22,000
Program service revenue
$0
Investment income
$2,003
Other revenue
$0
Total assets, end of year
$466,360
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$466,360
Program services expenses (Part IX)
$179,156
Management and general expenses
$22,588
Fundraising expenses
$9,087
Program service expenses (Part III)
$179,156

Program services were 85.0% 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.

  • 1d · Related organizations

    $233,374

  • 1f · All other contributions, gifts and grants

    $287,679

  • 1g · Noncash contributions included above

    $165,024

  • 3 · Investment income

    total $2,003 · unrelated business $2,003

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $22,000 · program services $22,000

  • 5 · Compensation of officers, directors and key employees

    total $151,765 · program services $129,001 · management and general $15,176 · fundraising $7,588

  • 10 · Payroll taxes

    total $11,610 · program services $9,869 · management and general $1,161 · fundraising $580

  • 11b · Fees: legal

    total $2,362 · program services $1,362 · management and general $1,000

  • 11c · Fees: accounting

    total $2,000 · program services $1,800 · management and general $200

  • 12 · Advertising and promotion

    total $7,840 · program services $6,664 · management and general $784 · fundraising $392

  • 13 · Office expenses

    total $1,605 · program services $1,205 · management and general $240 · fundraising $160

  • 14 · Information technology

    total $7,341 · program services $5,506 · management and general $1,468 · fundraising $367

  • 17 · Travel

    total $2,268 · program services $1,749 · management and general $519

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $2,040 · management and general $2,040

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $153,785 · end of year $117,409

  • 2 · Savings and temporary cash investments

    end of year $130,832

  • 8 · Inventories for sale or use

    beginning of year $350

  • 12 · Investments: other securities

    end of year $218,119

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $312,225

Mission and programs · 2024

Mission

TO SUPPORT YOUTH EDUCATIONAL PROGRAMS, VARIOUS SPECIAL PROGRAMS AND SCHOLARSHIPS. FUNDS DESIGNATED FOR THESE PROGRAMS ARE RESTRICTED TO THE PROGRAM NAMED

Activities or mission (Part I)

TO SUPPORT YOUTH EDUCATIONAL PROGRAMS

  • SCHOOL HYGIENE DRIVE, TEACHERS AID PROGRAM, FINANCIAL LITERACY PROGRAM

    Expenses $115,100 · Grants $12,000 · Revenue $193,520

  • EDUCATIONAL SCHOLARSHIPS INCLUDING THE GUY FLEMING SCHOLARSHIP FUND

    Expenses $64,056 · Grants $10,000 · Revenue $90,276

  • OTHER UNDESIGNATED PROGRAMS

    Revenue $237,257

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BRETT NOLL

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • SANDRA PARK

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • CHRISTINE WRIGHT

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • EDWARD ATUAHENE

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • SUSAN BARNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANDREY GIDASPOV

    EXECUTIVE DIRECTOR

    Total calculated
    $163,374
    From this org
    $151,764
    From related orgs
    $0
    Other
    $11,610
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $151,764
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,610
    Filer's total
    $163,374

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

  • 6b · Pay contingent on a related organization's net earnings

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I LINE 5 & SECTION 2 501 (3) QUESTIONS
THE COMPENSATION PAID TO THE EXECUTIVE DIRECTOR OF THE FOUNDATION WAS NOT BASED UPON THE REVENUES OF THE FOUNDATION. THIS COMPENSATION WAS PAID BY FEDCHOICE FCU A RELATED ORGANIZATION
SCHEDULE J PART III LINE A & B
ANDREY GIDASPOV WAS PAID 151,764 IN SALARY AND 11,610 IN SOCIAL SECURITY AND MEDICARE TAX BENEFITS FROM FEDCHOICE FEDERAL CREDIT UNION.

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
9 May 2025
IRS schema version
2024v5.1
Source object
202511299349300826

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