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Nonprofiteer
← PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION

Form 990 for tax year 2022

Filed by PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION.

Totals

Total revenue
$7,823,201
Total expenses
$4,296,875
Contributions and grants received
$5,958,332
Grants paid
$2,460,937
Program service revenue
$0
Investment income
$24,624
Other revenue
$1,840,245
Total assets, end of year
$8,671,732
Total liabilities, end of year
$196,606
Net assets or fund balances, end of year
$8,475,126
Program services expenses (Part IX)
$3,242,071
Management and general expenses
$176,809
Fundraising expenses
$877,995
Program service expenses (Part III)
$3,242,071

Program services were 75.5% 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.

  • 1a · Federated campaigns

    $5,965

  • 1d · Related organizations

    $1,437,259

  • 1f · All other contributions, gifts and grants

    $4,515,108

  • 3 · Investment income

    total $24,624 · unrelated business $0 · excluded $24,624

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $2,641,378

  • 8b · Fundraising events: direct expenses

    $801,133

  • 8c · Net income from fundraising events

    total $1,840,245 · excluded $1,840,245

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,460,937 · program services $2,460,937

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $51,166 · program services $39,663 · management and general $11,503

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $666,040 · program services $524,267 · management and general $141,773 · fundraising $0

  • 12 · Advertising and promotion

    total $15,787 · program services $15,787

  • 13 · Office expenses

    total $154,128 · program services $10,104 · management and general $1,486 · fundraising $142,538

  • 14 · Information technology

    total $39,787 · program services $18,620 · management and general $200 · fundraising $20,967

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $96,755 · program services $80,810 · management and general $4,710 · fundraising $11,235

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: MISCELLANEOUS

    total $802,311 · program services $81,919 · management and general $17,137 · fundraising $703,255

  • 24b · Other expenses: DREAM MAKERS GRANTS

    total $9,964 · program services $9,964 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,438,124 · end of year $5,077,612

  • 2 · Savings and temporary cash investments

    beginning of year $579,546 · end of year $580,416

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $1,278,663

  • 4 · Accounts receivable

    beginning of year $6,161 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,505 · end of year $90,620

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $1,957,763 · end of year $1,644,421

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $173,373 · end of year $196,606

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,926 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,069,227 · end of year $6,718,639

  • 28 · Net assets with donor restrictions

    beginning of year $1,879,573 · end of year $1,756,487

Mission and programs · 2022

Mission

THE PENTAGON FEDERAL CREDIT UNION FOUNDATION IS A NONPROFIT ORGANIZATION FORMED TO SUPPORT THE MEMBERS OF THE UNITED STATES DEFENSE COMMUNITY BY OFFERING PROGRAMS THAT INSTILL FINANCIAL LITERACY AND PROVIDE MILITARY MEMBERS, VETERANS AND THEIR COMMUNITIES WITH THE SKILLS AND RESOURCES TO REALIZE FINANCIAL STABILITY AND OPPORTUNITY. THE FOUNDATION'S VISION IS THAT ALL SERVICE MEMBERS ARE ABLE TO SERVE THE NATION FREE OF FINANCIAL WORRY AND THAT EVERY VETERAN HAS A STRONG FINANCIAL FUTURE.

Activities or mission (Part I)

SEE SCHEDULE O

  • MILITARY HEROES PROGRAM: THE MILITARY HEROES PROGRAM SUPPORTS THE MILITARY COMMUNITY IN THREE WAYS. 1) FUNDING FOR PROJECTS THAT HAVE A SIGNIFICANT POSITIVE IMPACT ON A SPECIFIC MILITARY COMMUNITY OR MORE BROADLY ACROSS THE ENTIRE MILITARY FAMILY. 2) SUPPORT TO INDIVIDUALS EXPERIENCING A LIFE CHANGING EMERGENCY. 3) SUPPORT TO OUR ALLIES THROUGH THE AFGHAN RESCUE AND RESETTLEMENT PROGRAM, WHICH RESETTLED AFGHAN REFUGEES IN THE UNITED STATES AFTER THE FALL OF KABUL.

    Expenses $2,542,772

  • VETERAN ENTREPRENEUR INVESTMENT PROGRAM (VEIP): VEIP PROVIDES VETERAN AND MILITARY SPOUSE ENTREPRENEURS WITH EDUCATION, MENTORSHIP, AND CONNECTION TO CAPITAL TO BUILD AND GROW THEIR BUSINESSES.

    Expenses $574,062

  • ALL OTHERS

    Expenses $125,237

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Clark

    VP Foundation Operations

    Total calculated
    $226,242
    From this org
    $0
    From related orgs
    $220,022
    Other
    $6,220
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $190,290 related
    Bonus
    $0 + $25,597 related
    Other
    $0 + $4,135 related
    Deferred
    $0 + $6,220 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $226,242 related

  • Mrs Seda Goff THRU 1022

    Dir, Veteran Entrepreneurs

    Total calculated
    $184,387
    From this org
    $0
    From related orgs
    $178,080
    Other
    $6,307
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $0 + $164,832 related
    Bonus
    $0 + $11,441 related
    Other
    $0 + $1,807 related
    Deferred
    $0 + $6,307 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $184,387 related

  • MS DEBORAH LEE JAMES

    Chairwoman

    Total calculated
    $0
    Hours/week
    2

  • MR FRED B CAPRIO

    Vice Chair

    Total calculated
    $0
    Hours/week
    1.5

  • MRS SANDRA PATRICOLA

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • David P Barondess

    Director

    Total calculated
    $0
    Hours/week
    1

  • MR EDWARD B CODY

    Director

    Total calculated
    $0
    Hours/week
    1

  • James C Dinegar

    Director

    Total calculated
    $0
    Hours/week
    1

  • COL RET JAMES QUINN

    Director

    Total calculated
    $0
    Hours/week
    1

  • MR ALFRED RUDOLPH

    Director

    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

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
2022
Filed
8 January 2024
IRS schema version
2022v5.0
Source object
202410129349300201

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