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Nonprofiteer
← MICHIGAN CREDIT UNION FOUNDATION

Form 990 for tax year 2023

Filed by MICHIGAN CREDIT UNION FOUNDATION.

Totals

Total revenue
$432,747
Total expenses
$241,548
Contributions and grants received
$379,720
Grants paid
$208,269
Program service revenue
$0
Investment income
$53,027
Other revenue
$0
Total assets, end of year
$1,284,050
Total liabilities, end of year
$10,235
Net assets or fund balances, end of year
$1,273,815
Program services expenses (Part IX)
$225,822
Management and general expenses
$11,489
Fundraising expenses
$4,237
Program service expenses (Part III)
$225,822

Program services were 93.5% 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.

  • 1d · Related organizations

    $29,750

  • 1f · All other contributions, gifts and grants

    $349,970

  • 3 · Investment income

    total $53,027 · excluded $53,027

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $208,269 · program services $208,269

  • 11b · Fees: legal

    total $1,640 · management and general $1,640

  • 11c · Fees: accounting

    total $6,150 · management and general $6,150

  • 11g · Fees: other

    total $19 · management and general $19

  • 17 · Travel

    total $10,286 · program services $9,257 · management and general $1,029

  • 24a · Other expenses: STAFF SUPPORT

    total $6,500 · program services $5,850 · management and general $650

  • 24b · Other expenses: MARKETING MATERIALS

    total $6,053 · program services $605 · management and general $1,211 · fundraising $4,237

  • 24c · Other expenses: MISCELLANEOUS

    total $2,631 · program services $1,841 · management and general $790

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $520,824 · end of year $692,881

  • 12 · Investments: other securities

    beginning of year $500,000 · end of year $500,000

  • 15 · Other assets

    beginning of year $75,258 · end of year $91,169

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,466 · end of year $10,235

  • 27 · Net assets without donor restrictions

    beginning of year $947,682 · end of year $1,098,043

  • 28 · Net assets with donor restrictions

    beginning of year $134,934 · end of year $175,772

Mission and programs · 2023

Mission

COOPERATIVELY EMPOWERING CREDIT UNIONS TO INCREASE FINANCIAL WELL-BEING BY SUPPORTING COMMUNITY ENRICHMENT, FINANCIAL EDUCATION, AND CREDIT UNION DEVELOPMENT INITIATIVES

  • PROVIDE AWARDS, GRANTS AND SCHOLARSHIPS TO ORGANIZATIONS AND INDIVIDUALS ON BEHALF OF THE CREDIT UNION MOVEMENT.

    Expenses $225,822 · Grants $208,269

As filed on the 2023 return.

Listed in Part VII

  • Kyle Gurzynski

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Dave Brandt

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Chrissy Siders

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Bridget Staffileno

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Brenda Lippens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jennifer Martines

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Tansley Stearns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Debi Southworth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jennifer Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Casey Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Kieran Marion

    DIRECTOR

    Total calculated
    $233,524
    From this org
    $0
    From related orgs
    $205,501
    Other
    $28,023
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,501 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,109 related
    Nontaxable benefits
    $0 + $17,914 related
    Filer's total
    $0 + $233,524 related

  • Beth Troost

    EXECUTIVE DIRECTOR

    Total calculated
    $65,471
    From this org
    $0
    From related orgs
    $62,442
    Other
    $3,029
    Hours/week
    30 + 40 related

  • Andrea Tucker

    FOUNDATION SPECIALIST

    Total calculated
    $72,557
    From this org
    $0
    From related orgs
    $55,588
    Other
    $16,969
    Hours/week
    30 + 40 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 EXECUTIVE DIRECTOR IS COMPENSATED BY A RELATED ORGANIZATION WITH SALARY DETERMINED BY THE RELATED ORGANIZATION'S POLICY AND REVIEW PROCEDURES.

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.

  • MICHIGAN CREDIT UNION LEAGUE SERVICE CORPORATION

    C · CREDIT UNION ACTIVITIES · MI

  • CU SOLUTIONS GROUP INCORPORATED

    C · CREDIT UNION ACTIVITIES · MI

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202423179349308012

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