Form 990 for tax year 2023

Totals

Total revenue

$2,274,792

Total expenses

$3,518,985

Contributions and grants received

$2,070,628

Grants paid

$1,332,275

Program service revenue

$185,066

Investment income

$19,098

Other revenue

$0

Total assets, end of year

$3,451,582

Total liabilities, end of year

$1,373,123

Net assets or fund balances, end of year

$2,078,459

Program services expenses (Part IX)

$2,211,531

Management and general expenses

$612,866

Fundraising expenses

$694,588

Program service expenses (Part III)

$2,211,531

Program services were 62.8% 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.

Mission and programs · 2023

• DISASTER RELIEF VIA PROJECT STORM BREAKAS A GLOBAL FIRST RESPONDER, PROJECT STORM BREAK DELIVERS RELIEF AND RECOVERY AID TO DAMAGED CREDIT UNION SYSTEMS, IMPACTED EMPLOYEES AND DISPLACED MEMBERS IN THE WAKE OF DISASTER.THESE EFFORTS HELP THE GLOBAL CREDIT UNION SYSTEM STAY RESILIENT AND MILLIONS OF MEMBERS GET BACK ON THEIR FEET.IN 2023 THROUGH ITS PROJECT STORM BREAK CONTINUED TO SUPPORT CREDIT UNIONS AND THEIR MEMBERS WITH RELIEF AND RECOVERY EFFORTS IN:1) UKRAINE ($1.64M DONATED TO RELIEF & RECOVERY PROGRAMS SINCE 2022)AMID RUSSIA'S ONGOING WAR AGAINST UKRAINE WFCU: SUPPORTED 1,000 CREDIT UNION MEMBER FARMERS ENSURING FOOD SECURITY:- 450 FARMERS PROVIDED WITH CERTIFICATES TO CO-FINANCE THE PURCHASE OF AGRICULTURAL TOOLS AND EQUIPMENT,- 550 SMALL FARMERS REIMBURSED ON 10% OF THEIR LOAN PRINCIPAL. FINANCED THE DISBURSEMENT OF 100+ LOANS TO SMALL AND MEDIUM-SIZED BUSINESSES TO HELP RECOVER FROM WAR IMPACT. 40+% OF THE BORROWERS ARE WOMEN IN BUSINESS. FINANCED THE PURCHASE OF 7,000 LITERS OF DRINKING WATER, ALONG WITH DOZENS OF WATER PUMPS AND OTHER WATER STORAGE EQUIPMENT TO HELP CREDIT UNIONS IN SOUTHERN UKRAINE TO CONTINUE OPERATING AND SERVING THEIR COMMUNITIES DESPITE THE DESTRUCTION OF THE KAKHOVKA DAM THAT CAUSED MASS FLOODING AND WATER SUPPLY ISSUES.2) TURKEY ($70K DONATED FOR RELIEF PROGRAMS) WFCU FINANCED THE PURCHASE OF 10 PORTABLE OFFICE UNITS AND 40+ AIR CONDITIONERS THAT ALLOWED CREDIT COOPERATIVES IN TURKEY TO RESUME OPERATIONS HALTED SINCE TWO EARTHQUAKES CAUSED SIGNIFICANT DAMAGE TO THEIR PERMANENT STRUCTURES.3) BELIZE ($10K DONATED FOR MEMBER RELIEF PROGRAM) IN COOPERATION WITH THE CARIBBEAN CONFEDERATION OF CREDIT UNIONS' (CCCU) DEVELOPMENT FOUNDATION AND THE BELIZE CREDIT UNION LEAGUE, WFCU PROVIDED FINANCE TO 50 CREDIT UNION MEMBERS IN BELIZE MAKING REPAIRS TO HURRICANE-RELATED PROPERTY DAMAGES.

  Expenses $1,030,345 · Grants $1,030,345

• BRIDGING THE GAPFOR BILLIONS WORLDWIDE, PROSPERITY AND GROWTH REMAIN OUT OF REACH. IN PARTNERSHIP WITH THE CREDIT UNION COMMUNITIES, WORLDWIDE FOUNDATION FOR CREDIT UNIONS (WFCU) IS WORKING TO BRIDGE THE GAPS AND CREATE A MORE EQUITABLE WORLD THROUGH FOUR KEY INITIATIVES:1) BRIDGE THE INCLUSION GAP BY EXPANDING CREDIT UNIONS GLOBALLY TO BRING FINANCIAL ACCESS TO MORE PEOPLE.2) BRIDGE THE GENDER GAP BY EMPOWERING WOMEN TO BE LEADERS WITHIN THE GLOBAL CREDIT UNION MOVEMENT.3) BRIDGE THE SAFETY GAP BY SUPPORTING CREDIT UNION EMPLOYEES AND MEMBERS DURING TIMES OF CRISIS.4) BRIDGE THE LEADERSHIP GAP BY PROVIDING PROFESSIONAL DEVELOPMENT FOR FUTURE CREDIT UNION LEADERS.IN 2023, WFCU FUNDED PROGRAMMING AROUND THE WORLD TO REACH CREDIT UNION COMMUNITIES IN NEW AND LASTING WAYS. AT A TIME WHEN THE WEALTH GAP HAS NEVER BEEN GREATER, WFCU'S WORK TO STRENGTHEN THE GLOBAL CREDIT UNION SYSTEM IS CREATING A MORE EQUITABLE WORLD.FINANCIAL INCLUSION VIA GLOBAL BRIDGES 13 JOURNEYS COMPLETED SINCE 2021 $600K OF ADDED SUPPORT VIA ENGAGEMENT SINCE 2021 CARIBBEAN CONFEDERATION OF CREDIT UNIONS (CCCU) & NATIONAL CREDIT UNION CONFEDERATION OF KOREA (NACUFOK): ONGOING THREE-YEAR ENGAGEMENT TO ADVANCE DIGITIZATION IN THE CARIBBEAN. DUNDALK CREDIT UNION (IRELAND) COMPLETED TWO ENGAGEMENTS HOSTING A UKRAINIAN CU DELEGATION AND LEARNING ABOUT THE US CU SYSTEM IN MADISON, WI. OCCU ENGAGED WITH AUSTRALIAN CUS TO LEARN THEIR EXPERIENCE IN LOAN SALES AND CLIMATE FINANCE.

  Expenses $915,885 · Grants $291,930

• GENDER EQUALITY VIA GLOBAL WOMEN'S LEADERSHIP NETWORKGLOBAL WOMEN'S LEADERSHIP NETWORK (GWLN) IS A KEY RESOURCE FOR INFORMATION, NETWORKING, AND SUPPORT, COMMITTED TO NARROWING INEQUALITY GAPS BY PROVIDING WOMEN WITH OPPORTUNITIES TO MAKE MEASURABLE DIFFERENCES IN THEIR OWN LIVES, IN THE LIVES OF CREDIT UNION MEMBERS, AND IN THEIR COMMUNITIES.FOR THE FIRST TIME IN 2023, GWLN EXPANDED ITS SCHOLARSHIP PROGRAM TO INCLUDE YEAR-LONG, ONLINE LEADERSHIP PROGRAMS THROUGH INDUSTRY PARTNERSHIPS. GWLN ALSO RE-ACTIVATED EMPOWERMENT GRANTS FOR SCHOLARS TO IMPLEMENT PROJECTS AIMED AT GROWING FINANCIAL INCLUSION, ADVANCING SOCIAL AND COMMUNITY IMPACT EFFORTS.GWLN BY THE NUMBERS: 160 SISTER SOCIETIES IN 30 COUNTRIES ON SIX CONTINENTS 3.5K HOURS OF EDUCATION PROVIDED 2.5K GLOBAL EVENT ATTENDEES $500K IN SCHOLARSHIPS SINCE 2009

  Expenses $10,000 · Grants $10,000 · Revenue $185,066

• Withheld by Nonprofiteer: this text may name a private individual.

  Expenses $255,301

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

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

• WORLD COUNCIL OF CREDIT UNIONS

  $275,000

  TO SUPPORT THE PROGRAM DEVELOPMENT OPERATIONS

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.

• WORLD COUNCIL OF CREDIT UNIONS INC

  501(C)(6) · PROMOTE, SUPPORT, REPRESENT, AND SERVE THE WORLDWIDE CREDIT UNION MOVEMENT · WI

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

12 November 2024

IRS schema version

2023v5.1

Source object

202423199349312842

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