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Nonprofiteer
← FINANCIAL RESOURCES FCU FOUNDATIONSINC

Form 990 for tax year 2022

Filed by FINANCIAL RESOURCES FCU FOUNDATIONSINC.

Totals

Total revenue
$51,094
Total expenses
$51,257
Contributions and grants received
$64,628
Grants paid
$51,140
Program service revenue
$0
Investment income
$2
Other revenue
-$13,536
Total assets, end of year
$64,935
Total liabilities, end of year
$9,067
Net assets or fund balances, end of year
$55,868
Program services expenses (Part IX)
$51,140
Management and general expenses
$117
Fundraising expenses
$0
Program service expenses (Part III)
$51,140

Program services were 99.8% 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

    $64,378

  • 1f · All other contributions, gifts and grants

    $250

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

    total $2 · related or exempt $2

  • 8a · Fundraising events: gross income

    $8,184

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

    $64,378

  • 8b · Fundraising events: direct expenses

    $23,047

  • 8c · Net income from fundraising events

    total -$14,863 · excluded -$14,863

  • 9a · Gaming: gross income

    $2,027

  • 9b · Gaming: direct expenses

    $700

  • 9c · Net income from gaming

    total $1,327 · excluded $1,327

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $46,140 · program services $46,140

  • 2 · Grants to domestic individuals

    total $5,000 · program services $5,000

  • 24a · Other expenses: TAX FILING FEES

    total $117 · management and general $117

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $45,357 · end of year $41,192

  • 2 · Savings and temporary cash investments

    beginning of year $19,491 · end of year $19,743

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $4,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,817 · end of year $9,067

  • 27 · Net assets without donor restrictions

    beginning of year $56,031 · end of year $55,868

Mission and programs · 2022

Mission

THE CORPORATION (FOUNDATION) HAS BEEN ORGANIZED EXCLUSIVELY FOR THE CHARITABLE RELIGIOUS, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTIONS 501(3) AND 170(2) OF THE IRS CODE, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE IRS CODE.

  • 2022 CHARITY EVENT WAS AT THE PALACE AT SOMERSET PARK WITH PROCEEDS BENEFITTING NJCT (NEW JERSEY CENTER FOR TOURETTES SYNDROME AND ASSOCIATED DISORDERS, INC.) AS WELL AS OTHER LOCAL CHARITIES AND SCHOLARSHIPS. NJCT YOUTH DEVELOPMENT PROGRAM PROVIDES YOUTH DIAGNOSED WITH TOURETTE SYNDROME, MENTORSHIP SUPPORT, LEADERSHIP AND SELF-ADVOCACY TRAINING. THE PROGRAM OFFERS A SAFE SPACE WHERE YOUTH CAN BE HEARD, SHARE EPERIENCES, AND LEARN TO ADVOCATE FOR THEMSELVES AND OTHERS.

    Expenses $45,890 · Grants $45,890

  • FIVE $1,000 SCHOLARSHIPS WERE AWARDED IN 2022. THE APPLICANTS MUST BE A MEMBER IN GOOD STANDING OF FINANCIAL RESOURCES FEDERAL CREDIT UNION OR RESIDE IN SOMERSET, HUNTERDON OR MIDDLESEX COUNTIES AND MUST BE ENROLLED AS A HIGH SCHOOL SENIOR AT THE TIME THE APPLICATION IS FILLED OUT. THE SCHOLARSHIP FUND MUST BE USED FOR TUITION OR TEXTBOOKS AND ONLY AT AN ACCREDITED EDUCATIONAL INSTITUITION. THE SIGNED APPLICATION MUST BE SUBMITTED WITH AN OFFICIAL HIGH SCHOOL TRANSCRIPT, AN SAT/ACT TRANSCRIPT PROVIDED THROUGH THE STUDENT'S SCHOOL GUIDANCE OFFICE AND THE TEACHER RFERENCE PORTION OF THE APPLICATION, COMPLETED BY ONE OF THE APPLICANT'S TEACHERS AND RETURNED IN A SEALED, SIGNED ENVELOPE. JUDGING IS BASED ON ACADEMIC PERFORMANCE, COMMUNITY SERVICE / INVOVLEMENT, TEACHER REFERENCE AND PERSONAL GOALS.

    Expenses $5,000 · Grants $5,000

  • EMPLOYEES OF FINANCIAL RESOURCES FCU DONATE AN AMOUNT IN ORDER TO WEAR JEANS TO WORK FOR THAT DAY. ALL MONEY RAISED IS THEN CONTRIBUTED TO LOCAL CHARITIES

    Expenses $250 · Grants $250

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

Listed in Part VII

  • Frank Almeida

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Brian Demcsak

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Beth Elbaum

    TREASURER

    Total calculated
    $0
    Hours/week
    0.75

  • Susan Dvorin

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Scott Witherspoon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Beth Molinaro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Caryn Komensky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202311329349302216

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