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← WISCONSIN CREDIT UNION FOUNDATIONINC

Form 990 for tax year 2023

Filed by WISCONSIN CREDIT UNION FOUNDATIONINC.

What the amendment changed

Compared with the return it replaced , filed 8 April 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$210,489
Total expenses
$214,137
Contributions and grants received
$187,740
Grants paid
$149,525
Program service revenue
$19,970
Investment income
$8,522
Other revenue
-$5,743
Total assets, end of year
$832,444
Total liabilities, end of year
$46,637
Net assets or fund balances, end of year
$785,807
Program services expenses (Part IX)
$204,094
Management and general expenses
$10,043
Fundraising expenses
$0
Program service expenses (Part III)
$204,094

Program services were 95.3% 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

    $56,670

  • 1f · All other contributions, gifts and grants

    $131,070

  • 2a · Program service revenue: FINANCIAL LITERACY REG

    total $9,600 · related or exempt $9,600

  • 2b · Program service revenue: EXPLORING WHY WORKSHOP

    total $5,370 · related or exempt $5,370

  • 2c · Program service revenue: BITE OF REALITY

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $8,522 · excluded $8,522

  • 8a · Fundraising events: gross income

    $22,400

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

    $56,670

  • 8b · Fundraising events: direct expenses

    $31,385

  • 8c · Net income from fundraising events

    total -$8,985 · excluded -$8,985

  • 9a · Gaming: gross income

    $10,058

  • 9b · Gaming: direct expenses

    $6,816

  • 9c · Net income from gaming

    total $3,242 · excluded $3,242

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $138,030 · program services $138,030

  • 2 · Grants to domestic individuals

    total $11,495 · program services $11,495

  • 11c · Fees: accounting

    total $4,250 · management and general $4,250

  • 13 · Office expenses

    total $2,627 · management and general $2,627

  • 17 · Travel

    total $2,364 · program services $2,364

  • 19 · Conferences, conventions and meetings

    total $55,241 · program services $52,205 · management and general $3,036

  • 24e · All other expenses

    total $130 · management and general $130

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $220,293 · end of year $217,581

  • 2 · Savings and temporary cash investments

    beginning of year $574,855 · end of year $579,936

  • 4 · Accounts receivable

    beginning of year $3,092 · end of year $5,407

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,097 · end of year $8,158

  • 15 · Other assets

    beginning of year $14,433 · end of year $21,362

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,947 · end of year $11,065

  • 19 · Deferred revenue

    beginning of year $17,018 · end of year $35,572

  • 25 · Other liabilities

    beginning of year $13,350 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $789,455 · end of year $785,807

Mission and programs · 2023

Mission

FOUNDATION RESOURCES PROMOTE CREDIT UNION DEVELOPMENT, HELP EDUCATE CREDIT UNION STAFF AND VOLUNTEERS, SUPPORT PROGRAMMING TO ENHANCE FINANCIAL LITERACY, AND SUPPORT THE CREDIT UNION SYSTEM IN TIMES OF NEED.

  • THE FOUNDATION AWARDED GRANTS TOTALING $75,000 TO 5 WISCONSIN CREDIT UNIONS IN NEED OF SUPPORT FOR TECHNOLOGY AND OPERATIONS RELATED EXPENSES AND UPGRADES THAT WILL MEASURABLY ASSIST THE CREDIT UNION IN SERVING ITS MEMBERS.

    Expenses $75,000 · Grants $75,000

  • THE FOUNDATION INVESTED IN THE FINANCIAL COUNSELING CERTIFICATION PROGRAM (FICEP) THAT CREDENTIALED 23 INDIVIDUALS AS CREDIT UNION CERTIFIED FINANCIAL COUNSELORS (CCUFCS), BRINGING THE PROGRAM TOTAL TO OVER 275. IN ADDITION, MORE THAN 20 INDIVIDUALS COMPLETED THE RE-CERTIFICATION PROCESS. THE FOUNDATION ENGAGED WITH SYSTEM PARTNERS TO FACILITATE FICEP. THE PROGRAM USED THE CREDIT UNION NATIONAL ASSOCIATION'S CERTIFIED CREDIT UNION FINANCIAL COUNSELOR (CCUFC) TEXTBOOK, WHICH INVOLVES SELF-STUDY AND A SERIES OF WEBINARS, AND ENHANCED IT WITH ADDITIONAL PROGRAM CONTENT. THE ADDITIONAL CONTENT OFFERED INSIGHTS TO HELP PARTICIPANTS INTEGRATE COUNSELING ACROSS MULTIPLE TOUCH-POINTS WITH MEMBERS, THEREBY BROADENING THE SCOPE AND EFFECTIVENESS OF THEIR EFFORT. PARTICIPANTS HAD THE OPPORTUNITY TO NETWORK WITH OTHER CCUFC-CERTIFIED INDIVIDUALS TO DISCUSS EXPANDING COUNSELING PROGRAMS IN THEIR CREDIT UNIONS. THE FOUNDATION PROCTORS THE DESIGNATION EXAMINATION FOR STUDENTS WHO EARN THE CCUFC DESIGNATION FOLLOWING SUCCESSFUL COMPLETION. FUNDS FROM THE FOUNDATION CUT THE COST OF PARTICIPATION BY MORE THAN HALF.

    Expenses $54,569 · Revenue $19,970

  • THE FOUNDATION AWARDED $40,530 IN INCLUSION GRANTS TO CREDIT UNIONS TO SUPPORT CREDIT UNIONS IN THEIR MISSION TO REACH UNSERVED AND UNREPRESENTED COMMUNITIES IN WISCONSIN THAT STRUGGLE TO BE SERVED BY TRADITIONAL FINANCIAL SERVICES.

    Expenses $40,530 · Grants $40,530

  • THE FOUNDATION AWARDED $20,000 IN THE DIFFERENCE GRANTS TO CREDIT UNIONS TO IMPLEMENT INNOVATIVE SERVICES AND PROGRAMS TO HELP BUILD FINANCIALLY STRONG, SELF-SUPPORTING FAMILIES AND COMMUNITIES IN WISCONSIN.

    Expenses $20,000 · Grants $20,000

  • THE FOUNDATION PROVIDED OVER $11,000 IN SCHOLARSHIPS TO CREDIT UNION EMPLOYEES TO FURTHER THEIR PROFESSIONAL DEVELOPMENT IN ORDER TO BETTER SERVE THEIR MEMBERS.

    Expenses $11,495 · Grants $11,495

  • THE FOUNDATION PROVIDED $2,500 TO THE NATIONAL CREDIT UNION FOUNDATION FOR DISASTER RELIEF ASSISTANCE.

    Expenses $2,500 · Grants $2,500

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lisa Palma

    CHAIR (FROM MAY 2023)

    Total calculated
    $0
    Hours/week
    0.19

  • Lora Benrud

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.19 + 0.3 related

  • Chris Felton

    TREASURER

    Total calculated
    $0
    Hours/week
    0.19

  • Shelly Mellenberger

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.19

  • Brett Thompson

    DIRECTOR

    Total calculated
    $679,389
    From this org
    $0
    From related orgs
    $635,685
    Other
    $43,704
    Hours/week
    0.19 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $527,179 related
    Bonus
    $0 + $75,702 related
    Other
    $0 + $32,804 related
    Deferred
    $0 + $43,704 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $679,389 related

  • Kevin Hauser

    CHAIR (THRU MAY 2023)

    Total calculated
    $0
    Hours/week
    0.19

  • Brandon Riechers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.19 + 0.3 related

  • Jami Olcott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.19

  • Kim Sponem

    DIRECTOR (THRU MAY 2023)

    Total calculated
    $0
    Hours/week
    0.19

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 4B
WISCONSIN CREDIT UNION LEAGUE HAS ESTABLISHED A DEFERRED COMPENSATION PLAN FOR THE PRESIDENT & CEO, BRETT THOMPSON, WHICH PROVIDES PAYMENT IN ACCORDANCE WITH THE PROVISIONS OF IRC SECTION 457(F). DURING 2023, WISCONSIN CREDIT UNION LEAGUE CONTRIBUTED $63,638 TO THE 457(F) PLAN.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WCUL SERVICES CORP

    C · SERVICES TO WISCONSIN CREDIT UNIONS · WI

Provenance

Return type
form_990
Tax year
2023
Filed
14 April 2025
IRS schema version
2023v6.0
Source object
202521119349300027

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