Form 990 for tax year 2023
Filed by FINANCIAL RESOURCES FCU FOUNDATIONSINC.
Totals
- Total revenue
- $103,500
- Total expenses
- $49,879
- Contributions and grants received
- $126,513
- Grants paid
- $47,651
- Program service revenue
- $0
- Investment income
- $366
- Other revenue
- -$23,379
- Total assets, end of year
- $112,881
- Total liabilities, end of year
- $3,392
- Net assets or fund balances, end of year
- $109,489
- Program services expenses (Part IX)
- $47,651
- Management and general expenses
- $2,228
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $47,651
Program services were 95.5% 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
$86,188
-
1d · Related organizations
$40,000
-
1f · All other contributions, gifts and grants
$325
-
3 · Investment income
total $366 · excluded $366
-
8a · Fundraising events: gross income
$2,740
-
8a · Fundraising events: contributions included on line 1c
$86,188
-
8b · Fundraising events: direct expenses
$28,446
-
8c · Net income from fundraising events
total -$25,706 · excluded -$25,706
-
9a · Gaming: gross income
$2,647
-
9b · Gaming: direct expenses
$320
-
9c · Net income from gaming
total $2,327 · excluded $2,327
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $44,651 · program services $44,651
-
2 · Grants to domestic individuals
total $3,000 · program services $3,000
-
11c · Fees: accounting
total $2,072 · management and general $2,072
-
14 · Information technology
total $156 · management and general $156
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $41,192 · end of year $36,447
-
2 · Savings and temporary cash investments
beginning of year $19,743 · end of year $76,434
-
9 · Prepaid expenses and deferred charges
beginning of year $4,000 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $9,067 · end of year $3,392
-
27 · Net assets without donor restrictions
beginning of year $55,868 · end of year $69,989
-
28 · Net assets with donor restrictions
end of year $39,500
Mission and programs · 2023
Mission
THE CORPORATION (FOUNDATION) HAS BEEN ORGANIZED EXCLUSIVELY FOR THE CHARITABLE RELIGIOUS, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTIONS 501(3) AND 170(2) OF THE IRS CODE, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE IRS CODE.
-
2023 CHARITY EVENT WAS AT THE PALACE AT SOMERSET PARK WITH PROCEEDS BENEFITTING MIDDLE EARTH AS WELL AS OTHER LOCAL CHARITIES (SEE FINANCIAL STATEMENT) AND SCHOLARSHIPS (LISTED HERE AND ON FINANCIAL STATEMENT). MIDDLE EARTH PROVIDES INDIVIDUALS, PRIMARILY YOUTH, WITH PREVENTION AND INTERVENTION SERVICES TO HELP THEM DEVELOP INTO RESPONSIBLE SELF-SUFFICIENT MEMBERS OF THE COMMUNITY.
Expenses $43,826 · Grants $43,826
-
PY - THREE $1,000 SCHOLARSHIPS WERE AWARDED IN 2023 THE APPLICANTS MUST BE A MEMBER IN GOOD STANDING OF FINANCIAL RESOURCES FEDERAL CREDIT UNION OR RESIDE IN SOMERSET, HUNTERDON, MIDDLESEX, HUDSON, OR UNION COUNTIES AND MUST BE ENROLLED AS A HIGH SCHOOL SENIOR AT THE TIME THE APPLICATION IS FILLED OUT. THE SCHOLARSHIP FUND MUST BE USED FOR TUITION OR TEXTBOOKS AND ONLY AT AN ACCREDITED EDUCATIONAL INSTITUITION. THE SIGNED APPLICATION MUST BE SUBMITTED WITH AN OFFICIAL HIGH SCHOOL TRANSCRIPT AND WITH THE TEACHER REFERENCE PORTION OF THE APPLICATION, COMPLETED BY ONE OF THE APPLICANT'S TEACHERS AND RETURNED IN A SEALED, SIGNED ENVELOPE. JUDGING IS BASED ON ACADEMIC PERFORMANCE, COMMUNITY SERVICE / INVOVLEMENT, TEACHER REFERENCE AND PERSONAL GOALS.
Expenses $3,000 · Grants $3,000
-
FINANCIAL RESOURCES FCU DEVELOPED THE "WE'RE HERE FOR YOU" PROGRAM TO PROVIDE EMERGENCY GRANTS TO CO-WORKERS.
Expenses $500 · Grants $500 · Revenue $40,000
-
EMPLOYEES OF FINANCIAL RESOURCES FCU DONATE AN AMOUNT IN ORDER TO WEAR JEANS TO WORK FOR THAT DAY. ALL MONEY RAISED IS THEN CONTRIBUTED TO LOCAL CHARITIES.
Expenses $325 · Grants $325
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
FRANK ALMEIDA
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
BRIAN DEMCSAK
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
BETH ELBAUM
TREASURER
- Total calculated
- $0
- Hours/week
- 1.25
-
SUSAN DVORIN
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
BETH MOLINARO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CARYN KOMENSKY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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
-
$20,000
TO PROVIDE SUPPORT TO MIDDLE EARTH WHO PROVIDES SERVICES AND PROGRAMS TO ADOLESCENTS. THE FUNDS PROVIDED MORE RESOURCES FOR LUNCH-TIME MENTORING PROGRAM AND COMMUNITY YOUTH CENTERS IN SOMERSET COUNTY.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 4 June 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421589349300407
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