Form 990 for tax year 2024

Totals

Total revenue

$1,795,688

Total expenses

$973,693

Contributions and grants received

$1,743,151

Grants paid

$375,000

Program service revenue

$38,230

Investment income

$14,042

Other revenue

$265

Total assets, end of year

$1,439,186

Total liabilities, end of year

$32,189

Net assets or fund balances, end of year

$1,406,997

Program services expenses (Part IX)

$724,462

Management and general expenses

$246,945

Fundraising expenses

$2,286

Program service expenses (Part III)

$724,462

Program services were 74.4% 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 · 2024

• SUPPORT OF STEPPING STONES FCU - THE STATED PURPOSE OF STEPPING STONES FEDERAL CREDIT UNION IS TO PROVIDE ACCESS TO ESSENTIAL FINANCIAL SERVICES FOR THE UNDERSERVED COMMUNITIES OF DELAWARE. THE FOUNDATION SOLICITS CONTRIBUTIONS TO SUPPORT A COMMUNITY-OWNED ORGANIZATION THAT PROVIDES OPPORTUNITIES TO ALL PEOPLE TO ACCESS AND USE FINANCIAL SERVICES. THIS SUPPORTS THE DIGNITY OF EACH PERSON AS THEY BUILD THEIR FINANCIAL SUCCESS AND TAKE OWNERSHIP OF THEIR FINANCIAL WELLBEING.

  Expenses $410,349 · Grants $375,000

• THE EQUITABLE ENTREPRENEURIAL ECOSYSTEM (E3) INITIATIVE IS DRIVEN BY THE FOUNDATION'S FOCUS ON REMOVING BARRIERS TO INNOVATION AND ITS STRONG BELIEF THAT GREAT IDEAS AND ENTREPRENEURSHIP CAN OCCUR THROUGHOUT SOCIETY. E3 IS AN AMBITIOUS INITIATIVE WITH THE GOAL OF BECOMING DELAWARE'S LEADING ENTREPRENEURIAL INCUBATOR AND ACCELERATOR BY CREATING AN INNOVATIVE ECOSYSTEM THAT IDENTIFIES, NURTURES, AND ULTIMATELY LEADS TO SUCCESSFUL BUSINESSES FOR DELAWARE'S FUTURE. E3 COMPLIMENTS AND WORKS IN TANDEM WITH REINVENTING DELAWARE IN WORKING TO CREATE THE CONDITIONS FOR SUCCESSFUL ENTREPRENEURS AND INNOVATORS ACROSS ALL COMMUNITIES WITH A PARTICULAR FOCUS ON UNDERREPRESENTED ENTREPRENEURS. E3 ATTEMPTS TO BUILD CITY-WIDE STRATEGIC COALITIONS DESIGNED TO IDENTIFY, VET, INCUBATE AND ACCELERATE THE LAUNCH OF NEW BUSINESSES.

  Expenses $139,209

• CAPACITY BUILDING: SUPPORTED BY A GRANT FROM LONGWOOD FOUNDATION, THE FOUNDATION AIMS TO EXPAND ITS REACH BY ENLARGING AND EXPANDING ITS PROGRAMS.

  Expenses $90,971

• THE PETE DU PONT FREEDOM FOUNDATION SERVES AS AN ENTREPRENEURIAL INCUBATOR BY PROVIDING A PLATFORM FOR INDIVIDUALS TO PRESENT IDEAS THAT WILL CREATE JOBS AND IMPROVE DELAWARE. THROUGH ITS "REINVENTING DELAWARE" PROGRAM WHICH BEGAN IN 2014, THE PUBLIC, FOUNDATION MEMBERS, SUPPORTERS AND THE BUSINESS COMMUNITY SUBMIT IDEAS TO THE FOUNDATION FOR CONSIDERATION. IDEA SUBMITTERS ARE INVITED TO PRESENT THEIR IDEAS AT AN ANNUAL DINNER EVENT, WHICH INCLUDES KEY MEMBERS OF THE DELAWARE BUSINESS AND LEADERSHIP COMMUNITIES. IN TOTAL, 100 INDIVIDUALS ATTEND THE EVENT AND PRESENT THEIR IDEAS. THE FOUNDATION PROVIDES TOP IDEA PRESENTERS FROM THE REINVENTING DELAWARE DINNER THE OPPORTUNITY THE REFINEMENT, DEVELOPMENT AND MENTORING SERVICES IN PARTNERSHIP WITH THIRD PARTY FACILITATORS, SPOTLIGHT ARTICLES IN THE DELAWARE BUSINESS TIMES (ONLINE AND PRINT), PROMOTION AND VISIBILITY THROUGH FOUNDATION SOCIAL MEDIA AND WEBSITE EXPOSURE, PROFESSIONALLY PRODUCED VIDEO SPOTLIGHTS FOR THE PROGRAM FINALISTS, EXHIBITION OPPORTUNITY AT THE ANNUAL PETE DU PONT FREEDOM AWARD EVENT FOR PROGRAM FINALISTS, AND A MONETARY AWARD FOR THE IDEA THAT CAN MAKE THE MOST IMPACT ON DELAWARE.

  Expenses $9,155 · Revenue $38,230

• HBCU INNOVATIVE SOLUTIONS INITIATIVE - THE FOUNDATION PARTNERED WITH THE BANK OF AMERICA AND DELAWARE STATE UNIVERSITY TO INTEGRATE THEIR REINVENTING PROGRAM AND PROCESS INTO THE 13TH ANNUAL PHILANTHROPY SYMPOSIUM, WHICH HOSTS OVER 30 HBCU REPRESENTATIVES FROM ACROSS THE COUNTRY. A $100,000 GRANT WAS RECEIVED IN 2022 TO LAUNCH THE INITIATIVE IN JULY 2023. A COMMITTEE HELD A MEETING TO REVIEW ALL OF THE IDEA PROPOSALS SUBMITTED FOR THE INITIATIVE AND SELECTED NINE TO MOVE FORWARD TO THE FIRST PHASE OF THE PROCESS TO RECEIVE IN-KIND CONSULTING SUPPORT VALUED AT UP TO $5,000 PER PROPOSAL. THE COMMITTEE RECONVENES TO SELECT FOUR FINALISTS WHO WILL RECEIVE AN ADDITIONAL SUITE OF IN-KIND SUPPORT VALUED AT UP TO $20,000 EACH. FINALLY THE COMMITTEE WILL SELECT ONE WINNER TO RECEIVE A $10,000 CASH GRANT TO CONTINUE TO MOVE THE IDEA FORWARD. THE WINNER WILL BE ANNOUNCED AT THE 14TH ANNUAL PHILANTHROPY SYMPOSIUM.

  Expenses $42,042

• THE REINVENTING DELAWARE PROGRAM SERVES AS AN ENTREPRENEURIAL INCUBATOR BY PROVIDING A PLATFORM FOR INDIVIDUALS TO PRESENT IDEAS THAT WILL CREATE JOBS AND IMPROVE DELAWARE. THE PUBLIC, THE FOUNDATION'S MEMBERS AND SUPPORTERS AND THE BUSINESS COMMUNITY ARE ENCOURAGED TO SUBMIT IDEAS FOR CONSIDERATION.

  Expenses $32,736

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

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.

Grants on this return

• STEPPING STONES FEDERAL CREDIT UNION

  $375,000

  MISSION SUPPORT

Provenance

Return type

form_990

Tax year

2024

Filed

12 May 2025

IRS schema version

2024v5.1

Source object

202501339349306730

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

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