Apple Federal Credit Union Foundation Foundation
- Assets
- $0.0
- Revenue
- $9.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, VA
- Founding
- 08/2007
- Data as of
- 01/2021
- EIN
- 20-5308299
Organization Overview
Apple Federal Credit Union Foundation Foundation is located in Springfield, VA. The organization was established in 2007. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. Apple Federal Credit Union Foundation Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 01/2021, Apple Federal Credit Union Foundation Foundation generated $9.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (55.3%) each year. All expenses for the organization totaled $830.9k during the year ending 01/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Apple Federal Credit Union Foundation Foundation has awarded 109 individual grants totaling $2,980,582. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION WAS TO ADVANCE EDUCATION WITHIN THE COMMUNITY WE SERVE. WE PROVIDED A SCHOLARSHIP PROGRAM FOR GRADUATING SENIORS, A TEACHER GRANT PROGRAM, AND SUPPORTED NEW TEACHERS THROUGH OUR TEACHER INDUCTION GRANT PROGRAM. IN ADDITION, WE WORKED WITH SCHOOL DIVISIONS AND THE VA VDOE TO IMPROVE TEACHER RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE GIVEN THROUGHOUT APPLE FEDERAL CREDIT UNION'S NORTHERN VIRGINIA SERVICE AREA TO DESERVING ORGANIZATION THAT HELP TO SUPPORT THE AREA'S STUDENTS, TEACHER, AND COMMUNITY. DURING THE YEAR, WE SUPPORTED TRAINING FOR OVER 3,000 NEW TEACHERS THROUGH OUR TEACHER INDUCTION GRANT PROGRAM. ; MANAGED FUNDS FOR SEVERAL PRIVATE SCHOLARSHIPS AT NO COST; PROVIDED GRANTS TO OTHER 501(C)(3) ORGANIZATIONS.
THE FOUNDATION AWARDED SCHOLARSHIPS TO GRADUATING SENIORS THROUGHOUT THE NORTHERN VIRGINIA AREA, WHO HAVE DEMONSTRATED A COMMITMENT TO HELPING THEIR SCHOOL AND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Sengstack Executive Director | OfficerTrustee | 25 | $60,000 |
Calanthia Tucker President | OfficerTrustee | 0.3 | $0 |
Robert Sowell Vice President, Secretary | OfficerTrustee | 0.3 | $0 |
Rc Bosley Treasurer | OfficerTrustee | 0.3 | $0 |
Su Chuang Director | Trustee | 0.3 | $0 |
Linda Whitfield Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,014 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $40 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,054 |
| Total Program Service Revenue | $0 |
| Investment income | $1,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,438 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $592,732 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $32,000 |
| Compensation of current officers, directors, key employees. | $11,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $95,054 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,352 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,048 |
| Advertising and promotion | $0 |
| Office expenses | $437 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $456 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $830,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Apple Federal Credit Union Foundation Foundation has awarded $592,732 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Ashburn, VA PURPOSE: FUNDING SUPPORT FOR NEW TEACHER INDUCTIONS,ALONG WITH MENTORING AND SUPPORT PROGRAMS. (REACH VIRGINIA) | $300,000 |
Richmond, VA PURPOSE: FUNDING FOR SUPPORT OF GREAT EXPECTATIONS PROGRAM | $120,000 |
Burke, VA PURPOSE: PROGRAM SUPPORT | $20,732 |
Berryville, VA PURPOSE: FUNDING SUPPORT FOR NEW TEACHER EQUITY IN EDUCATION | $12,000 |
Falls Church, VA PURPOSE: FUNDING SUPPORT FOR NEW TEACHER EQUITY IN EDUCATION. | $12,000 |
Ashburn, VA PURPOSE: FUNDING SUPPORT FOR NEW TEACHER EQUITY IN EDUCATION. | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Apple Federal Credit Union Foundation Foundation has recieved totaling $11.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $11 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commonwealth Credit Union Frankfort, KY | $1,891,090,350 | $88,350,902 |
Municipal Employees Credit Union Of Baltimore Inc Baltimore, MD | $1,362,108,647 | $60,211,083 |
Vizo Financial Corporate Credit Union Greensboro, NC | $5,382,501,749 | $155,341,145 |
Park Community Credit Union Inc Louisville, KY | $1,121,794,262 | $53,014,034 |
Self Help Credit Union Durham, NC | $1,341,389,804 | $52,319,101 |
Leaders Credit Union Jackson, TN | $642,989,895 | $47,507,703 |
State Chartered Credit Unions In North Carolina Durham, NC | $720,522,330 | $47,882,386 |
Point Breeze Credit Union Hunt Valley, MD | $935,513,107 | $29,545,819 |
First South Financial Credit Union Bartlett, TN | $775,898,594 | $36,735,546 |
Southeast Financial Credit Union Franklin, TN | $457,364,506 | $24,675,556 |
Volunteer Corporate Credit Union Nashville, TN | $2,404,399,500 | $49,925,746 |
Memphis City Employees Credit Union Memphis, TN | $441,662,639 | $21,190,840 |