Form 990 for tax year 2023

What the amendment changed

Compared with the latest return for 2023 , filed 16 December 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.

Total revenue

$24,843,212 →changed to $0

Total expenses

$23,429,637 →changed to $0

Contributions and grants received

$884,811 →changed to $0

Grants paid

$206,273 →changed to $0

Program service revenue

$22,970,758 →changed to $0

Investment income

$664,947 →changed to $0

Other revenue

$322,696 →changed to $0

Total assets, end of year

$32,647,025 →changed to $0

Total liabilities, end of year

$16,562,210 →changed to $0

Net assets or fund balances, end of year

$16,084,815 →changed to $0

Totals

Total revenue

$24,843,212

Total expenses

$23,429,637

Contributions and grants received

$884,811

Grants paid

$206,273

Program service revenue

$22,970,758

Investment income

$664,947

Other revenue

$322,696

Total assets, end of year

$32,647,025

Total liabilities, end of year

$16,562,210

Net assets or fund balances, end of year

$16,084,815

Program services expenses (Part IX)

— not reported

Management and general expenses

— not reported

Fundraising expenses

— not reported

Program service expenses (Part III)

— not reported

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.

Mission and programs · 2023

• COMMUNICATIONS/LEGISLATIVE/REGULATORY/COMPLIANCE:KEEPS MEMBERS UP-TO-DATE ON ALL OF THE RULES AND LAWS GOVERNING CREDIT UNIONS AS WELL AS PROVIDING COMPLIANCE ASSISTANCE.

• MEMBERSHIP EDUCATIONAL CONFERENCES:NAFCU HOLDS AN ANNUAL CONFERENCE THAT ALLOWS MEMBERS TO LEARN ABOUT THE LATEST NEWS, ADVANCES IN TECHNOLOGY, AND INNOVATIVE PRODUCTS FOR CREDIT UNIONS. IN ADDITION, NAFCU HOLDS NUMEROUS OTHER EDUCATIONAL CONFERENCES DESIGNED TO EDUCATE MEMBERS ON MORE SPECIALIZED TOPICS.

• PRODUCTS & SERVICES:INCLUDES THE NAFCU JOURNAL, A BI-MONTHLY PERIODICAL ABOUT TRENDS IN CREDIT UNIONS AND OTHER PUBLICATION SUCH AS THE WEEKLY UPDATE NEWSLETTER AND REGULATORY ALERTS PUBLISHED FOR MEMBERS. ALSO INCLUDED ARE VARIOUS TRAINING RESOURCES AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC.

• 2022 ACCOMPLISHMENTSNAFCU CONTINUES TO FIGHT TO SECURE REGULATORY RELIEF AND FLEXIBILITY FOR CREDIT UNIONS AND IN 2022 REMAINED COMMITTED TO CREATING A LEGISLATIVE AND REGULATORY ENVIRONMENT THAT ALLOWS CREDIT UNIONS - AND THEIR 135 MILLION MEMBERS - TO THRIVE. OUR BOLD ADVOCACY BLUEPRINT AIMED TO CREATE REGULATORY RELIEF, FOSTER CREDIT UNION INNOVATION, GROW MEMBERSHIP, AND LEVEL THE PLAYING FIELD BETWEEN CREDIT UNIONS, LARGE BANKS, AND UNDERREGULATED MARKET PARTICIPANTS. THIS STRATEGY SECURED SEVERAL KEY WINS FOR THE INDUSTRY AND AMERICAN CONSUMERS.NAFCU FOUGHT BACK AGAINST BANKERS' ATTACKS BY CONTINUING EFFORTS UNDER THE AWARD-WINNING BIG BANK BULLIES CAMPAIGN TO HIGHLIGHT THE DIFFERENCE BETWEEN COMMUNITY-FOCUSED CREDIT UNIONS AND PROFIT-SEEKING BANKS. WE ALSO ADVOCATED AGAINST LEGISLATIVE EFFORTS TO EXTEND DEBIT INTERCHANGE ROUTING REQUIREMENTS TO CREDIT CARDS AND GRANT THE NCUA WITH EXPANDED THIRD-PARTY VENDOR AUTHORITY.IN ADDITION, NAFCU SECURED THE INTRODUCTION OF, AND BIPARTISAN SUPPORT FOR, MULTIPLE PIECES OF LEGISLATION TO PROVIDE CREDIT UNIONS WITH MORE FLEXIBILITY, INCLUDING THE FULLY ENACTED CREDIT UNION GOVERNANCE MODERNIZATION ACT (CUGMA).ON THE REGULATORY FRONT, NAFCU STRONGLY OPPOSED THE CONSUMER FINANCIAL PROTECTION BUREAU'S (CFPB) EFFORTS TO EXPAND THE SCOPE OF REGULATION E AND HOLD FINANCIAL INSTITUTIONS LIABLE FOR FRAUD ON PEER-TO-PEER PLATFORMS. WE ALSO ADVOCATED FOR THE CFPB TO CONSIDER ADDITIONAL WAYS TO SUPERVISE NONBANK FINTECH COMPANIES, LIMITING RISKS TO CONSUMERS AND CREATING A FAIRER REGULATORY ENVIRONMENT.NAFCU LED EFFORTS TO ENSURE THE NATIONAL CREDIT UNION ADMINISTRATION (NCUA) ALLOWED CREDIT UNIONS TO USE DISTRIBUTED LEDGER TECHNOLOGIES AND SUCCESSFULLY SECURED THE AGENCY'S RELEASE OF ADDITIONAL GUIDANCE ON HOW CREDIT UNIONS CAN BETTER ADOPT DIGITAL ASSETS AND EMERGING FINANCIAL TECHNOLOGIES.AT NAFCU, THE ASSOCIATION'S REGULATORY COMPLIANCE TEAM ANSWERED MORE THAN 6,000 QUESTIONS FROM MEMBERS VIA THE DIRECT COMPLIANCE ASSISTANCE PROGRAM - ANSWERING ALL QUESTIONS WITHIN ONE BUSINESS DAY TO CONTINUE OUR PRIORITIZATION OF EXTREME MEMBER SERVICE. IN ADDITION TO OUR COMPLIANCE HOTLINE, THE TEAM AUTHORED NUMEROUS BLOGS, ARTICLES, AND OTHER TOOLS TO PROVIDE VALUABLE COMPLIANCE ANALYSIS AND RESOURCES TO NAFCU MEMBERS.TO PROVIDE OUR MEMBERS WITH THE INDUSTRY'S BEST EDUCATIONAL OPPORTUNITIES, OUR EDUCATION AND EVENTS TEAMS CURATED 12 CONFERENCES AND EVENTS, DELIVERING FORWARD-THINKING CONTENT DESIGNED TO EQUIP CREDIT UNIONS WITH THE TOOLS NEEDED TO GROW AND SERVE MEMBERS STRAIGHT TO ATTENDEES. ADDITIONALLY, OUR ONLINE TRAINING CENTER CONTINUED TO BE HIGHLY UTILIZED, OFFERING WEEKLY LIVE AND ON-DEMAND WEBINARS ON THE INDUSTRY'S MOST PROMINENT ISSUES; IT REMAINS A VALUABLE OPPORTUNITY FOR CREDIT UNION STAFF TO STAY UP TO DATE ON THE LATEST TRENDS. THROUGHOUT THE YEAR, NEARLY 5,000 CREDIT UNION INDUSTRY PROFESSIONALS STREAMED MORE THAN 16,000 HOURS ALMOST 2 YEARS' WORTH OF CONTENT. NAFCU PROVIDES THE INDUSTRY'S LEADING ACE ADVOCACY, COMPLIANCE, AND EDUCATION AND WE ARE DEDICATED TO DELIVERING ON OUR PROMISES FOR THE BENEFIT OF OUR MEMBERS AND THE 135 MILLION AMERICANS THEY SERVE.

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

Listed in Part VII

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

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

• CHILDREN'S HOSPITAL FOUNDATION

  $62,263

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• OREGON HEALTH & SCIENCE UNIVERSITY FOUNDATION

  $21,843

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• PEACE HEALTH SACRED HEART MEDICAL CENTER FOUNDATION

  $21,843

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• CHILDREN'S MIRACLE NETWORK

  $13,586

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• THE UPSTATE FOUNDATION INC

  $13,586

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• CREDIT UNION MIRACLE DAY COMMITTEE

  $10,000

  UNRESTRICTED CHARITABLE GIFT

• FILENE RESEARCH INSTITUTE

  $10,000

  UNRESTRICTED CHARITABLE GIFT

• CHARTWAY PROMISE FOUNDATION

  $9,873

  UNRESTRICTED CHARITABLE GIFT AND MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• ASCENSION SACRED HEART FOUNDATION

  $8,116

  MATCH OF PAC DONATIONS - PLEDGE OWED NOT PAID, NOT TAX DEDUCTIBLE PER FEC

• AFRICAN AMERICAN CREDIT UNION COALITION

  $7,500

  UNRESTRICTED CHARITABLE GIFT

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.

• NATIONAL ASSOCIATION OF FEDERAL CREDIT UNIONS FOUNDATION

  501(C)(3) · TO PROMOTE THE CHARITABLE, LITERARY, EDUCATIONAL, AND HUMANITARIAN CAUSES · VA

• NAFCU POLITICAL ACTION COMMITTEE

  527 · POLITICAL ACTIVITIES · VA

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.

Provenance

Return type

form_990

Tax year

2023

Filed

22 November 2024

IRS schema version

2023v5.1

Source object

202413279349301131

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

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