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Nonprofiteer
← THE CREDIT UNION FOUNDATION OF NEW MEXICO INC

Form 990 for tax year 2024

Filed by THE CREDIT UNION FOUNDATION OF NEW MEXICO INC.

Totals

Total revenue
$880,435
Total expenses
$338,410
Contributions and grants received
$750,479
Grants paid
$236,896
Program service revenue
$17,659
Investment income
$112,006
Other revenue
$291
Total assets, end of year
$4,711,674
Total liabilities, end of year
$1,564,129
Net assets or fund balances, end of year
$3,147,545
Program services expenses (Part IX)
$302,693
Management and general expenses
$35,717
Fundraising expenses
$0
Program service expenses (Part III)
$302,693

Program services were 89.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • KAREN GRIFFO

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JUDY CARRASCO

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • DONALD SARICH

    BOARD SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • RICK ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LILY CURRIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • STUART JOHNSTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • NELSON MEDINA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MELIA D HEIMBUCK

    PRESIDENT/CEO

    Total calculated
    $298,920
    From this org
    $0
    From related orgs
    $265,136
    Other
    $33,784
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,699 related
    Bonus
    $0 + $46,437 related
    Other
    $0
    Deferred
    $0 + $20,919 related
    Nontaxable benefits
    $0 + $12,865 related
    Filer's total
    $0 + $298,920 related

  • REBECCA ISSACS FORMER

    MANAGING DIRECTOR

    Total calculated
    $50,560
    From this org
    $0
    From related orgs
    $50,560
    Other
    $0
    Hours/week
    1 + 39 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

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4B
CUANM ESTABLISHED A DEFERRED COMPENSATION PLAN FOR ITS CHIEF EXECUTIVE OFFICER (CEO) IN 2024. CUANM ESTABLISHED A BENEFIT FUNDING ACCOUNT OF $600,000 AT A MAJOR INSURANCE COMPANY EARNING 5.05%. ACCOUNT EARNINGS FUND THE DEFERRED COMPENSATION OBLIGATION. CUANM'S COMMITMENT UNDER THE PLAN INCLUDES PAYMENTS OF 100% OF THE INVESTMENT EARNINGS CREDITED TO THE CEO'S BENEFIT ACCOUNT ON DECEMBER 31, 2026, 2029 AND 2032. AT DECEMBER 31, 2024, BENEFIT ACCOUNT EARNINGS WERE $24,373 FOR A TOTAL BENEFIT FUNDING ACCOUNT VALUE OF 624,373 AT OTHER INVESTMENTS IN THE CONSOLIDATED STATEMENTS OF NET POSITION. THE ORGANIZATION RETAINS TITLE AND BENEFICIAL OWNERSHIP OF THE ACCOUNT.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202513179349310456

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