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← MSUFCU DESK DRAWER FOUNDATION

Form 990 for tax year 2022

Filed by MSUFCU DESK DRAWER FOUNDATION.

Totals

Total revenue
$597,167
Total expenses
$589,303
Contributions and grants received
$571,888
Grants paid
$539,641
Program service revenue
$0
Investment income
$0
Other revenue
$25,279
Total assets, end of year
$186,107
Total liabilities, end of year
$70,449
Net assets or fund balances, end of year
$115,658
Program services expenses (Part IX)
$543,078
Management and general expenses
$26,495
Fundraising expenses
$19,730
Program service expenses (Part III)
$543,078

Program services were 92.2% 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.

  • 1d · Related organizations

    $275,000

  • 1f · All other contributions, gifts and grants

    $296,888

  • 9a · Gaming: gross income

    $56,440

  • 9b · Gaming: direct expenses

    $31,161

  • 9c · Net income from gaming

    total $25,279 · unrelated business $25,279

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $539,641 · program services $539,641

  • 11b · Fees: legal

    total $12,768 · management and general $12,768

  • 11c · Fees: accounting

    total $4,000 · management and general $4,000

  • 12 · Advertising and promotion

    total $23,167 · program services $3,437 · fundraising $19,730

  • 13 · Office expenses

    total $4,507 · management and general $4,507

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $5,220 · management and general $5,220

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $109,063 · end of year $186,107

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,269 · end of year $11,276

  • 18 · Grants payable

    beginning of year $0 · end of year $53,735

  • 25 · Other liabilities

    beginning of year $0 · end of year $5,438

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $107,794 · end of year $115,658

Mission and programs · 2022

Mission

OUR MISSION IS TO EMPOWER MEMBERS, EMPLOYEES, AND OTHER BUSINESSES TO CONTRIBUTE TO A UNIVERSAL WELLBEING BY INVESTING IN OUR LOCAL COMMUNITIES AND HELPING THEM FLOURISH.

  • ARTS & CULTURE: SUPPORTS THEATER, THE VISUAL ARTS, AND ARTISTS TO ESTABLISH AND PROMOTE CREATIVITY. 5 ORGANIZATIONS SERVED.STABLE HOUSING: ENSURES SUPPORT FOR ALL COMMUNITY MEMBERS IN SECURING RELIABLE AND SAFE SHELTER. 12 ORGANIZATIONS SERVED.EMPOWERING YOUTH: REMOVES BARRIERS FOR YOUTH TO SHARE THEIR IDEAS AND EMPOWERS FUTURE LEADERS. 20 ORGANIZATIONS SERVED.FINANCIAL EDUCATION: ENGAGES AND EDUCATES COMMUNITY MEMBERS TO TAKE CHARGE OF THEIR FINANCES. 2 ORGANIZATIONS SERVED.FOSTERING ENTREPRENEURIALISM: EMPOWERS AND EDUCATES ENTREPRENEURS TO DEVELOP SKILLS AND EXPLORE PROGRAMS. 7 ORGANIZATIONS SERVED.

    Expenses $543,078 · Grants $539,641

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ernest Betts

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Angela Brown

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Elliot Daniels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Diane Ottarson-Landry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Elizabeth Lawrence

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Dylan Minor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Daniel Spadafore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Greg Deppong

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    2 + 5 related
  • Susanne Elkins

    EXECUTIVE DIRECTOR

    Total calculated
    $235,145
    From this org
    $0
    From related orgs
    $209,621
    Other
    $25,524
    Hours/week
    8 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,621 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $20,962 related
    Nontaxable benefits
    $0 + $4,562 related
    Filer's total
    $0 + $235,145 related
  • April Clobes

    INTERIM EXECUTIVE DIRECTOR - PART YEAR

    Total calculated
    $1,700,380
    From this org
    $0
    From related orgs
    $1,528,830
    Other
    $171,550
    Hours/week
    8 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,528,830 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $152,883 related
    Nontaxable benefits
    $0 + $18,667 related
    Filer's total
    $0 + $1,700,380 related
  • Whitney Anderson-Harrell

    EXECUTIVE DIRECTOR -PART YEAR

    Total calculated
    $81,897
    From this org
    $0
    From related orgs
    $67,765
    Other
    $14,132
    Hours/week
    8 + 50 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

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

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.

  • MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION

    501(C)(1) · CREDIT UNION · MI

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202333079349300528

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