Skip to content
Nonprofiteer
← FRANKLIN MINT FEDERAL CREDIT UNIONFOUNDATION INC

Form 990 for tax year 2023

Filed by FRANKLIN MINT FEDERAL CREDIT UNIONFOUNDATION INC.

Totals

Total revenue
$612,689
Total expenses
$183,242
Contributions and grants received
$505,578
Grants paid
$101,326
Program service revenue
$35,641
Investment income
$0
Other revenue
$71,470
Total assets, end of year
$996,265
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$996,265
Program services expenses (Part IX)
$179,311
Management and general expenses
$3,931
Fundraising expenses
$0
Program service expenses (Part III)
$179,311

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.

  • 1b · Membership dues

    $22,468

  • 1c · Fundraising events

    $18,550

  • 1f · All other contributions, gifts and grants

    $464,560

  • 2a · Program service revenue: DCIU MANAGEMENT INCOME

    total $30,775 · related or exempt $30,775

  • 2b · Program service revenue: FOUNDATION CELEBRATION

    total $4,866 · related or exempt $4,866

  • 8a · Fundraising events: gross income

    $98,900

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

    $18,550

  • 8b · Fundraising events: direct expenses

    $27,430

  • 8c · Net income from fundraising events

    total $71,470 · excluded $71,470

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $60,326 · program services $60,326

  • 2 · Grants to domestic individuals

    total $41,000 · program services $41,000

  • 7 · Other salaries and wages

    total $8,775 · program services $8,775

  • 11g · Fees: other

    total $3,367 · management and general $3,367

  • 13 · Office expenses

    total $4 · management and general $4

  • 17 · Travel

    total $237 · management and general $237

  • 24a · Other expenses: PARTNERS IN LEARNING

    total $61,025 · program services $61,025

  • 24b · Other expenses: DELCO HI-Q

    total $8,185 · program services $8,185

  • 24c · Other expenses: MISCELLANEOUS OPERATING

    total $301 · management and general $301

  • 24d · Other expenses: SUBSCRIPTIONS

    total $22 · management and general $22

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $526,538 · end of year $564,264

  • 3 · Pledges and grants receivable

    beginning of year $55,280 · end of year $432,001

  • 17 · Accounts payable and accrued expenses

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

  • 27 · Net assets without donor restrictions

    beginning of year $516,818 · end of year $578,364

  • 28 · Net assets with donor restrictions

    beginning of year $50,000 · end of year $417,901

Mission and programs · 2023

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 ACKNOWLEDGES 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 $132,681 · Grants $54,696 · Revenue $35,641

  • 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 $5,630 · Grants $5,630

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

    Expenses $41,000 · Grants $41,000

As filed on the 2023 return. 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

  • Dr George Steinhoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shonette Carew

    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.

  • STATE FINANCIAL NETWORK LLC

    MORTGAGE ACTIVITY · PA · income $195,086

    Directly controlled by FRANKLIN MINT FEDERAL CREDIT UNION

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443189349308124

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.