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Nonprofiteer
← NEW YORK CREDIT UNION FOUNDATION

Form 990 for tax year 2024

Filed by NEW YORK CREDIT UNION FOUNDATION.

Totals

Total revenue
$321,776
Total expenses
$256,251
Contributions and grants received
$237,435
Grants paid
$168,080
Program service revenue
$0
Investment income
$49,153
Other revenue
$35,188
Total assets, end of year
$1,238,380
Total liabilities, end of year
$16,249
Net assets or fund balances, end of year
$1,222,131
Program services expenses (Part IX)
$238,146
Management and general expenses
$11,202
Fundraising expenses
$6,903
Program service expenses (Part III)
$238,146

Program services were 92.9% 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.

  • 1f · All other contributions, gifts and grants

    $237,435

  • 3 · Investment income

    total $50,031 · excluded $50,031

  • 7a · Gross sales of assets other than inventory

    securities $551,508

  • 7b · Less cost or other basis and sales expenses

    securities $552,386

  • 7c · Gain or loss

    securities -$878

  • 7d · Net gain or loss

    total -$878 · excluded -$878

  • 8a · Fundraising events: gross income

    $60,370

  • 8b · Fundraising events: direct expenses

    $25,182

  • 8c · Net income from fundraising events

    total $35,188 · excluded $35,188

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $168,080 · program services $168,080

  • 11a · Fees: management

    total $39,500 · program services $29,005 · management and general $6,506 · fundraising $3,989

  • 11c · Fees: accounting

    total $15,000 · program services $11,015 · management and general $2,470 · fundraising $1,515

  • 24a · Other expenses: YOUNG PROFESSIONALS DEV

    total $12,085 · program services $12,085

  • 24b · Other expenses: GOVERNANCE

    total $10,000 · program services $7,343 · management and general $1,647 · fundraising $1,010

  • 24c · Other expenses: CONTRIBUTIONS

    total $6,000 · program services $6,000

  • 24d · Other expenses: OTHER EXPENSES

    total $3,586 · program services $2,618 · management and general $579 · fundraising $389

  • 24e · All other expenses

    total $2,000 · program services $2,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $142,008 · end of year $91,034

  • 2 · Savings and temporary cash investments

    beginning of year $557,597 · end of year $661,012

  • 3 · Pledges and grants receivable

    beginning of year $14,733 · end of year $18,337

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,404 · end of year $2,378

  • 11 · Investments: publicly traded securities

    beginning of year $455,843 · end of year $465,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,784 · end of year $16,249

  • 19 · Deferred revenue

    beginning of year $83,375

  • 27 · Net assets without donor restrictions

    beginning of year $478,468 · end of year $1,186,406

  • 28 · Net assets with donor restrictions

    beginning of year $595,958 · end of year $35,725

Mission and programs · 2024

Mission

THE MISSION IS TO SERVE CREDIT UNIONS, SCHOOLS AND COMMUNITY ORGANIZATIONS THAT IMPROVE THE FINANCIAL LITERACY AND INDEPENDENCE OF NEW YORKERS.

Activities or mission (Part I)

FOSTERING THE FINANCIAL INDEPENDENCE OF NEW YORKERS THROUGH CREDIT UNIONS.

  • GRANTMAKING PROGRAMS INCLUDE PROFESSIONAL DEVELOPMENT GRANTS, FINANCIAL FITNESS GRANTS, AND SMART MONEY GRANTS. PROFESSIONAL DEVELOPMENT GRANTS PROVIDE FUNDS FOR THE EDUCATION AND TRAINING OF CREDIT UNION EMPLOYEES AND VOLUNTEERS. FINANCIAL FITNESS GRANTS HELP FUND GENERAL OPERATING NEEDS OF CREDIT UNIONS THAT WILL ULTIMATELY HELP IMPROVE MEMBER SERVICE. SMART MONEY GRANTS HELP FUND PROGRAMS AND SERVICES THAT PROMOTE FINANCIAL LITERACY AND INDEPENDENCE.

    Expenses $238,146 · Grants $168,080

As filed on the 2024 return.

Listed in Part VII

  • William Mellin

    PRESIDENT / CEO

    Total calculated
    $613,513
    From this org
    $0
    From related orgs
    $608,742
    Other
    $4,771
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $413,479 related
    Bonus
    $0 + $117,140 related
    Other
    $0 + $78,123 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $4,771 related
    Filer's total
    $0 + $613,513 related

  • Edward Kovalefsky

    CHIEF FINANCIAL OFFICER

    Total calculated
    $222,979
    From this org
    $0
    From related orgs
    $222,200
    Other
    $779
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,700 related
    Bonus
    $0 + $26,500 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $779 related
    Filer's total
    $0 + $222,979 related

  • Christopher Pajak

    COO - ASSOCIATION SERVICES

    Total calculated
    $208,300
    From this org
    $0
    From related orgs
    $199,454
    Other
    $8,846
    Hours/week
    1 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $175,954 related
    Bonus
    $0 + $23,500 related
    Other
    $0
    Deferred
    $0 + $7,978 related
    Nontaxable benefits
    $0 + $868 related
    Filer's total
    $0 + $208,300 related

  • Shelby Baskin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Craig Booth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Amy Calabrese

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Twanda Christensen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eric Hepkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • James Langer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kevin Mietlicki

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Kathrya Pierre

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christina Sauve

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Domenic Vero

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lauran Wilson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Richard Yeager

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy Bruculere

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kusey Kirk

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Carol Allen

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

SCHEDULE J, PART I, LINE 3 - COMPENSATION
IN ESTABLISHING THE COMPENSATION OF THE PRESIDENT / CEO, IN A RELATED ORGANIZATION, THE FOLLOWING ARE USED: WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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

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.

  • CONSOLIDATED LEAGUE SERVICES INC

    C · MANAGEMENT COMPANY · NY

  • CUC SERVICES INC

    C · SERVICE PROVIDER · NY

  • OWNERSCHOICE FUNDING INC

    C · SERVICE PROVIDER · NY

  • CUC MANAGEMENT INC

    C · PAYROLL · NY

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349307665

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