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Nonprofiteer
← MARINE CREDIT UNION FOUNDATION INC

Form 990 for tax year 2023

Filed by MARINE CREDIT UNION FOUNDATION INC.

Totals

Total revenue
$374,627
Total expenses
$570,512
Contributions and grants received
$404,584
Grants paid
$206,371
Program service revenue
$0
Investment income
-$45,996
Other revenue
$16,039
Total assets, end of year
$1,347,086
Total liabilities, end of year
$76,325
Net assets or fund balances, end of year
$1,270,761
Program services expenses (Part IX)
$477,139
Management and general expenses
$61,523
Fundraising expenses
$31,850
Program service expenses (Part III)
$477,139

Program services were 83.6% 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

    $93,500

  • 1e · Government grants (contributions)

    $12,949

  • 1f · All other contributions, gifts and grants

    $298,135

  • 3 · Investment income

    total $30,701 · excluded $30,701

  • 7a · Gross sales of assets other than inventory

    securities $1,333,081

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

    securities $1,409,778

  • 7c · Gain or loss

    securities -$76,697

  • 7d · Net gain or loss

    total -$76,697 · excluded -$76,697

  • 8a · Fundraising events: gross income

    $66,830

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

    $93,500

  • 8b · Fundraising events: direct expenses

    $54,491

  • 8c · Net income from fundraising events

    total $12,339 · excluded $12,339

  • 11a · Other revenue: OTHER REVENUE

    total $3,700 · related or exempt $3,700

  • 11e · Other revenue, total

    $3,700

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $206,371 · program services $206,371

  • 5 · Compensation of officers, directors and key employees

    total $109,108 · program services $87,286 · management and general $10,911 · fundraising $10,911

  • 7 · Other salaries and wages

    total $125,116 · program services $100,092 · management and general $12,512 · fundraising $12,512

  • 11c · Fees: accounting

    total $7,400 · program services $740 · management and general $5,920 · fundraising $740

  • 11f · Fees: investment management

    total $11,090 · management and general $11,090

  • 11g · Fees: other

    total $76,000 · program services $60,700 · management and general $13,600 · fundraising $1,700

  • 12 · Advertising and promotion

    total $4,414 · program services $4,414

  • 17 · Travel

    total $7,760 · program services $3,084 · management and general $4,676

  • 19 · Conferences, conventions and meetings

    total $1,982 · program services $1,586 · management and general $198 · fundraising $198

  • 24a · Other expenses: FINDING HOME EXPENSES

    total $12,516 · program services $12,516

  • 24b · Other expenses: FUNDRAISING EXPENSE

    total $5,789 · fundraising $5,789

  • 24c · Other expenses: OTHER

    total $2,616 · management and general $2,616

  • 24d · Other expenses: MISCELLANEOUS

    total $350 · program services $350

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $145,701 · end of year $93,323

  • 2 · Savings and temporary cash investments

    beginning of year $171 · end of year $171

  • 3 · Pledges and grants receivable

    beginning of year $13,517 · end of year $7,772

  • 9 · Prepaid expenses and deferred charges

    beginning of year $524 · end of year $1,703

  • 11 · Investments: publicly traded securities

    beginning of year $1,197,449 · end of year $1,244,117

  • 17 · Accounts payable and accrued expenses

    beginning of year $90,906 · end of year $76,325

  • 25 · Other liabilities

    beginning of year $56,001 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,195,455 · end of year $1,246,266

  • 28 · Net assets with donor restrictions

    beginning of year $15,000 · end of year $24,495

Mission and programs · 2023

Mission

THE MARINE CREDIT UNION FOUNDATION WAS FOUNDED TO MAKE A POSITIVEDIFFERENCE IN THE COMMUNITIES SERVED BY MARINE CREDIT UNION THROUGHCHARITABLE DONATIONS AND INITIATIVES THAT INCREASE FINANCIAL LITERACY.

Activities or mission (Part I)

THE MCU FOUNDATION WAS FOUNDED TO MAKE A POSITIVE DIFFERENCE IN THE COMMUNITIES SERVED BY MCU THROUGH CHARITABLE DONATIONS AND INITIATIVES THAT INCREASE FINANCIAL LITERACY.

  • THE MISSION OF THE MARINE CREDIT UNION FOUNDATION IS TO PROVIDE CHARITABLE CONTRIBUTIONS AND INCREASE FINANCIAL LITERACY TO IMPROVE THE QUALITY OF LIFE FOR INDIVIDUALS LIVING IN THE COMMUNITIES SERVED BY MARINE CREDIT UNION.

    Expenses $284,152 · Grants $206,371

  • THE FINDING HOME PROGRAM IS A 12-MONTH COUNSELING PROGRAM THAT ASSISTS FAMILIES IN FINANCING AND PURCHASING THEIR FIRST HOME.

    Expenses $192,987 · Revenue $3,700

As filed on the 2023 return.

Listed in Part VII

  • Ken King

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Josh Vandeberg

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ryan Hall

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Shy Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sam Kaufman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Juan Jimenez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tonya Wagner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Quinn Devlin

    EXECUTIVE DIRECTOR

    Total calculated
    $109,107
    From this org
    $0
    From related orgs
    $73,105
    Other
    $36,002
    Hours/week
    40

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413209349302506

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