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Nonprofiteer
← GECU FOUNDATION

Form 990 for tax year 2023

Filed by GECU FOUNDATION.

Totals

Total revenue
$843,511
Total expenses
$815,945
Contributions and grants received
$617,500
Grants paid
$584,698
Program service revenue
$0
Investment income
$1,937
Other revenue
$224,074
Total assets, end of year
$287,110
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$287,110
Program services expenses (Part IX)
$766,240
Management and general expenses
$48,436
Fundraising expenses
$1,269
Program service expenses (Part III)
$766,240

Program services were 93.9% 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.

  • 1e · Government grants (contributions)

    $200,000

  • 1f · All other contributions, gifts and grants

    $417,500

  • 3 · Investment income

    total $1,937 · excluded $1,937

  • 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

    $224,074

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $224,074

  • 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 $584,698 · program services $584,698

  • 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 $3,778 · program services $0 · management and general $3,778 · fundraising $0

  • 11c · Fees: accounting

    total $4,191 · program services $0 · management and general $4,191 · fundraising $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 $0

  • 13 · Office expenses

    total $8,851 · program services $4,861 · management and general $2,721 · fundraising $1,269

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $12,277 · program services $0 · management and general $12,277 · fundraising $0

  • 17 · Travel

    total $384 · program services $0 · management and general $384 · fundraising $0

  • 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: SUBGRANT AWARD

    total $50,000 · program services $50,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: VITA PROGRAM

    total $63,105 · program services $63,105 · management and general $0 · fundraising $0

  • 24c · Other expenses: SECURITY

    total $12,538 · program services $0 · management and general $12,538 · fundraising $0

  • 24d · Other expenses: EQUIPMENT RENTAL

    total $1,773 · program services $1,773 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $74,350 · program services $61,803 · management and general $12,547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $247,194 · end of year $274,055

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · 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 $12,350 · end of year $13,055

  • 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 $0 · end of year $0

  • 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 $0 · end of year $0

  • 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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $259,544 · end of year $287,110

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE GECU FOUNDATION IS THE PHILANTHROPIC ARM OF GECU THAT OPERATES TO ELEVATE THE EL PASO COMMUNITY AND THE CREDIT UNION MOVEMENT THROUGH STRATEGIC FUNDRAISING AND CHARITABLE GIVING. The GECU Foundation focuses on 12 development issues that affect our communities: *Health *Hunger *Housing *Education *Environment *Transportation *Savings *Technology *Access to credit *Employment *Inclusion *Diversity and equity Throughout 2023, the GECU Foundation successfully continued the work and efforts to elevate people's lives in the El Paso, Texas, community and expanded our reach to new communities in New Mexico. We made an impact on these communities through charitable giving to support important issues that affect the lives of their people - one of those issues being food insecurity which has been increasingly affecting families everywhere. We were honored to expand our philanthropic giving to Casa de Peregrinos' food pantry to help combat food insecurity in Southern New Mexico. In 2023, we we

Activities or mission (Part I)

THE GECU FOUNDATION WORKS TO SUPPORT GECU MISSION, GOALS & THE CREDIT UNION MOVEMENT BY SUPPORTING CHARITABLE CAUSES FOCUSING ON TWELVE DEVELOPMENT ISSUES THAT AFFECT OUR COMMUNITY

  • THE FOUNDATION PROUDLY SUPPORTED HEALTH-RELATED GRANTS TO ENHANCE MEDICAL AND MENTAL HEALTHCARE ACCESS FOR UNDERSERVED COMMUNITIES. BY PARTNERING WITH ESTEEMED ORGANIZATIONS SUCH AS EL PASO CHILDREN'S HOSPITAL, THE CHILDREN'S GRIEF CENTER OF EL PASO, AND THE DOCTORS OF THE WORLD BORDER HEALTH PROGRAM, WE HAVE ENSURED THAT QUALITY HEALTH ASSISTANCE REACHES THOSE IN NEED. THESE GRANTS ARE PIVOTAL IN PROVIDING ESSENTIAL MEDICAL SERVICES, MENTAL HEALTH SUPPORT, AND COMPREHENSIVE CARE, REFLECTING OUR COMMITMENT TO FOSTERING HEALTHIER, MORE RESILIENT COMMUNITIES.

    Expenses $64,767 · Grants $64,767

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

    Expenses $188,604 · Grants $188,604

  • THE FOUNDATION SUPPORTED COMMUNITY-RELATED GRANTS TO ADDRESS KEY DEVELOPMENT ISSUES SUCH AS HUNGER, HOUSING, AND EMPLOYMENT. BY PARTNERING WITH CHARITABLE ORGANIZATIONS LIKE UNITED WAY OF EL PASO COUNTY, HOSPICE EL PASO, EL PASOANS FIGHTING HUNGER, AND PROJECT VIDA, AMONG MANY OTHERS, THE FOUNDATION AIMED TO HELP PEOPLE IN OUR COMMUNITY LIVE THEIR BEST LIVES POSSIBLE. THESE GRANTS WERE PIVOTAL IN PROVIDING ESSENTIAL RESOURCES AND SUPPORT, ENSURING THAT INDIVIDUALS AND FAMILIES COULD ACCESS THE SERVICES THEY NEED TO THRIVE. THROUGH THESE EFFORTS, THE FOUNDATION REAFFIRMED ITS COMMITMENT TO FOSTERING A STRONGER, MORE RESILIENT COMMUNITY.

    Expenses $512,869 · Grants $331,327

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

  • Crystal Long

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Brad Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tomas Sigala Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Grace Vaughn

    TREASURER AND SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Elvira Valles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

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.

  • GECU

    501(c)(14) · FINANCE · TX

Provenance

Return type
form_990
Tax year
2023
Filed
10 June 2024
IRS schema version
2023v5.1
Source object
202432289349302683

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

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