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Nonprofiteer
← CORNERSTONE CREDIT UNION FOUNDATION

Form 990 for tax year 2023

Filed by CORNERSTONE CREDIT UNION FOUNDATION.

Totals

Total revenue
$1,652,357
Total expenses
$1,514,949
Contributions and grants received
$1,056,508
Grants paid
$737,193
Program service revenue
$30,482
Investment income
$131,911
Other revenue
$433,456
Total assets, end of year
$2,930,825
Total liabilities, end of year
$182,448
Net assets or fund balances, end of year
$2,748,377
Program services expenses (Part IX)
$982,768
Management and general expenses
$315,645
Fundraising expenses
$216,536
Program service expenses (Part III)
$982,768

Program services were 64.9% 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.

  • 1d · Related organizations

    $100,000

  • 1f · All other contributions, gifts and grants

    $956,508

  • 2a · Program service revenue: PRINCIPLES AND PHILOSOPHY

    total $30,482 · related or exempt $30,482

  • 3 · Investment income

    total $131,911 · excluded $131,911

  • 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

    $665,154

  • 8b · Fundraising events: direct expenses

    $237,989

  • 8c · Net income from fundraising events

    total $427,165 · excluded $427,165

  • 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

  • 11a · Other revenue: MISCELLANOUS REVENUE

    total $7,080 · related or exempt $7,080

  • 11b · Other revenue: KAREN HART LEGACY SOCIETY

    total $4,593 · related or exempt $4,593

  • 11c · Other revenue: LIFE SOLUTIONS

    total -$5,382 · related or exempt -$5,382

  • 11e · Other revenue, total

    $6,291

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $641,533 · program services $641,533

  • 2 · Grants to domestic individuals

    total $95,660 · program services $95,660

  • 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 $174,954 · program services $39,684 · management and general $39,684 · fundraising $95,586

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $191,321 · program services $43,396 · management and general $43,396 · fundraising $104,529

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $30,055 · program services $6,817 · management and general $6,817 · fundraising $16,421

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $915 · management and general $915

  • 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 $0

  • 12 · Advertising and promotion

    total $2,172 · management and general $2,172

  • 13 · Office expenses

    total $12,492 · management and general $12,492

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $36,718 · management and general $36,718

  • 17 · Travel

    total $68,936 · program services $40,617 · management and general $28,319

  • 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: EDUCTATION/PROFESSIONAL

    total $174,719 · program services $29,587 · management and general $145,132

  • 24b · Other expenses: CONFERENCE EXPENSES

    total $30,482 · program services $30,482

  • 24c · Other expenses: MISCELLANEOUS

    total $54,992 · program services $54,992

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $208,435 · end of year $932,026

  • 2 · Savings and temporary cash investments

    beginning of year $1,397,308 · end of year $1,286,430

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $26,082 · end of year $112,223

  • 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 $6,239 · end of year $11,400

  • 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 $72,467 · end of year $473,336

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $85,580 · end of year $115,410

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,652 · end of year $112,490

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,000 · end of year $37,433

  • 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 $38,060 · end of year $32,525

  • 27 · Net assets without donor restrictions

    beginning of year $1,468,450 · end of year $2,015,828

  • 28 · Net assets with donor restrictions

    beginning of year $240,949 · end of year $732,549

Mission and programs · 2023

Mission

EMPOWERING CREDIT UNIONS TO IMPACT THEIR COMMUNITIES. THE FOUNDATION IS DEDICATED TO HELPING CREDIT UNIONS MAKE A DIFFERENCE IN THE LIVES OF THE MEMBERS AND COMMUNITIES THEY SERVE.

Activities or mission (Part I)

EMPOWERING CREDIT UNIONS TO IMPROVE THEIR COMMUNITIES.

  • PROVIDE EDUCATIONAL GRANTS FOR FINANCIAL WELLNESS INITIATIVES AND CONTINUED TRAINING AND EDUCATIONAL CLASSES FOR BENEFIT OF MEMBER CREDIT UNIONS IN THE STATES OF TEXAS, ARKANSAS, OKLAHOMA, KANSAS, AND MISSOURI. TRAINING AND EVENTS INCLUDED CUFINHEALTH CONFERENCE AND FINANCIAL COUNSELING CERTIFICATION PROGRAM TO BENEFIT THE PUBLIC.

    Expenses $982,768 · Grants $641,533 · Revenue $30,482

  • PROVIDED DISASTER RELIEF GRANTS.

    Grants $95,660

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

Listed in Part VII

  • Caroline Willard

    President/CEO CCUL

    Total calculated
    $866,846
    From this org
    $0
    From related orgs
    $765,465
    Other
    $101,381
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $761,595 related
    Bonus
    not reported
    Other
    not reported + $3,870 related
    Deferred
    not reported + $87,729 related
    Nontaxable benefits
    not reported + $13,652 related
    Filer's total
    not reported + $866,846 related

  • Shoaib Salamat

    SVP/CFO CCUL

    Total calculated
    $214,524
    From this org
    $0
    From related orgs
    $177,227
    Other
    $37,297
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $177,047 related
    Bonus
    not reported
    Other
    not reported + $180 related
    Deferred
    not reported + $9,483 related
    Nontaxable benefits
    not reported + $27,814 related
    Filer's total
    not reported + $214,524 related

  • Courtney Moran

    Executive Director - FND

    Total calculated
    $174,953
    From this org
    $140,468
    From related orgs
    $0
    Other
    $34,485
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,468
    Bonus
    not reported
    Other
    not reported
    Deferred
    $7,647
    Nontaxable benefits
    $26,838
    Filer's total
    $174,953

  • Shelli McCoy

    Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Mary Beth Spuck

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Dougherty

    Secretary

    Total calculated
    $0
    Hours/week
    0.5

  • Evan Wilson

    Treasurer

    Total calculated
    $0
    Hours/week
    0.5

  • Ashley Bautista

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Jason Berridge

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Kanika Boutte

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Karyn Davis

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Lori Crutchley

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Sara Freeman

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Pam Garrett

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen Lark

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Tammy McNair

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Craig Rohden

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Erik Shaw

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Gina Wilson

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Dale Hansard

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Dave Willis

    Trustee/Past Foundation Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Tina Buttchen

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Ruby Alvarez

    DE Society Representative

    Total calculated
    $0
    Hours/week
    0.5

  • Melissa Burleson

    Friends of the Foundation Rep

    Total calculated
    $0
    Hours/week
    0.5

  • Sarah Hall

    Friends of the Foundation Rep

    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. 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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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

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.

  • Cornerstone Credit Union League

    501(C)(6) · ASSOCIATION · TX

  • TEXAS CCUL POLITICAL ACTION COMMITTEE

    527 · SUPPORT · TX · controlled entity

    Directly controlled by CCUL

  • ARKANSAS CREDIT UNOIN POLITICAL ACTION

    527 · SUPPORT · AR · controlled entity

    Directly controlled by CCUL

  • Oklahoma Credit Union Political Action

    527 · SUPPORT · OK · controlled entity

    Directly controlled by CCUL

  • Kansas Credit Union Political Action

    527 · SUPPORT · KS · controlled entity

    Directly controlled by CCUL

  • Missouri Credit Union Political Action

    527 · SUPPORT · MO · controlled entity

    Directly controlled by CCUL

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.

  • CREDIT UNION RESOURCES INC

    C CORP · SERVICE PROVI · TX · 0% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349322010

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