Skip to content
Nonprofiteer
← MARINE CREDIT UNION FOUNDATION INC

Form 990 for tax year 2024

Filed by MARINE CREDIT UNION FOUNDATION INC.

Totals

Total revenue
$658,244
Total expenses
$462,911
Contributions and grants received
$368,960
Grants paid
$165,460
Program service revenue
$0
Investment income
$237,226
Other revenue
$52,058
Total assets, end of year
$1,314,209
Total liabilities, end of year
$18,789
Net assets or fund balances, end of year
$1,295,420
Program services expenses (Part IX)
$247,697
Management and general expenses
$215,214
Fundraising expenses
$0
Program service expenses (Part III)
$247,697

Program services were 53.5% 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

    $114,000

  • 1e · Government grants (contributions)

    $36,688

  • 1f · All other contributions, gifts and grants

    $218,272

  • 3 · Investment income

    total $30,425 · excluded $30,425

  • 7a · Gross sales of assets other than inventory

    securities $723,907

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

    securities $517,106

  • 7c · Gain or loss

    securities $206,801

  • 7d · Net gain or loss

    total $206,801 · excluded $206,801

  • 8a · Fundraising events: gross income

    $50,116

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

    $114,000

  • 8b · Fundraising events: direct expenses

    $51,961

  • 8c · Net income from fundraising events

    total -$1,845 · excluded -$1,845

  • 11d · All other revenue

    total $53,903 · excluded $53,903

  • 11e · Other revenue, total

    $53,903

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $165,460 · program services $165,460

  • 5 · Compensation of officers, directors and key employees

    total $72,361 · management and general $72,361

  • 7 · Other salaries and wages

    total $79,203 · management and general $79,203

  • 11b · Fees: legal

    total $2,001 · management and general $2,001

  • 11c · Fees: accounting

    total $26,025 · management and general $26,025

  • 11f · Fees: investment management

    total $8,072 · management and general $8,072

  • 11g · Fees: other

    total $24,483 · management and general $24,483

  • 13 · Office expenses

    total $409 · management and general $409

  • 23 · Insurance

    total $2,292 · management and general $2,292

  • 24a · Other expenses: FINDING HOMES EXPENSE

    total $82,237 · program services $82,237

  • 24e · All other expenses

    total $368 · management and general $368

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $93,323 · end of year $154,611

  • 2 · Savings and temporary cash investments

    beginning of year $171 · end of year $73,961

  • 3 · Pledges and grants receivable

    beginning of year $7,772 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,703 · end of year $2,471

  • 11 · Investments: publicly traded securities

    beginning of year $1,244,117 · end of year $1,083,166

  • 17 · Accounts payable and accrued expenses

    beginning of year $76,325 · end of year $18,789

  • 27 · Net assets without donor restrictions

    beginning of year $1,246,266 · end of year $1,295,420

  • 28 · Net assets with donor restrictions

    beginning of year $24,495 · end of year $0

Mission and programs · 2024

Mission

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 $165,460 · Grants $165,460

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

    Expenses $82,237

As filed on the 2024 return.

Listed in Part VII

  • Anne Snow

    PRESIDENT

    Total calculated
    $29,479
    From this org
    $0
    From related orgs
    $29,479
    Other
    $0
    Hours/week
    1 + 5 related

  • William Maas

    TREASURER

    Total calculated
    $27,500
    From this org
    $0
    From related orgs
    $27,500
    Other
    $0
    Hours/week
    1 + 5 related

  • Joumana McDad

    SECRETARY/MCU CHIEF EXPERIENCE OFF.

    Total calculated
    $355,822
    From this org
    $0
    From related orgs
    $319,723
    Other
    $36,099
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,462 related
    Bonus
    $0 + $86,000 related
    Other
    $0 + $261 related
    Deferred
    $0 + $3,195 related
    Nontaxable benefits
    $0 + $32,904 related
    Filer's total
    $0 + $355,822 related

  • Darrick Weeks

    DIRECTOR/MCU PRESIDENT & CEO

    Total calculated
    $659,455
    From this org
    $0
    From related orgs
    $610,318
    Other
    $49,137
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $462,177 related
    Bonus
    $0 + $138,880 related
    Other
    $0 + $9,261 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $33,887 related
    Filer's total
    $0 + $659,455 related

  • Ken King

    PRESIDENT (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Ryan Hall

    TREASURER (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Josh Vandeberg

    SECRETARY (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Shy Jackson

    DIRECTOR (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Juan Jimenez

    DIRECTOR (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Sam Kaufman

    DIRECTOR (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Tonya Wagner

    DIRECTOR (THRU 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • Quinn Devlin

    EXECUTIVE DIRECTOR (THRU 03/2024)

    Total calculated
    $40,609
    From this org
    $0
    From related orgs
    $29,485
    Other
    $11,124
    Hours/week
    25

  • Caitlin Wilson

    EXECUTIVE DIRECTOR

    Total calculated
    $169,541
    From this org
    $0
    From related orgs
    $160,174
    Other
    $9,367
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $0 + $128,969 related
    Bonus
    $0 + $31,000 related
    Other
    $0 + $205 related
    Deferred
    $0 + $7,737 related
    Nontaxable benefits
    $0 + $1,630 related
    Filer's total
    $0 + $169,541 related

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)

PART I, LINE 3
THE ORGANIZATION HAS A MANAGEMENT SERVICES AGREEMENT WITH MARINE CREDIT UNION, UNDER WHICH MCU ADMINISTERS ALL HUMAN RESOURCES FUNCTIONS FOR THE MCU EMPLOYEES PROVIDING SERVICES TO THE ORGANIZATION.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202543089349302694

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

The source document this was parsed from is served over the API, which is where bulk and document access live.