Financial Resources Fcu Foundationsinc
- Assets
- $44.7k
- Revenue
- $23.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bridgewater, NJ
- Founding
- 05/2007
- Data as of
- 12/2018
- EIN
- 20-8216512
Organization Overview
Financial Resources Fcu Foundationsinc is located in Bridgewater, NJ. The organization was established in 2007. According to its NTEE Classification (O12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Resources Fcu Foundationsinc 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 12/2018, Financial Resources Fcu Foundationsinc generated $23.7k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $25.6k during the year ending 12/2018. While expenses have increased by 2.4% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION (FOUNDATION) HAS BEEN ORGANIZED EXCLUSIVELY FOR THE CHARITABLE, RELIGIOUS, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTIONS 501(C)(3) AND 170(C)(2) OF THE IRS CODE, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE IRS CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITY EVENT AT THE PALACE AT SOMERSET PARK WHICH BENEFITTED BINNACLE HOUSE, MARTIN LUTHER KING (MLK) YOUTH CENTER, AND SOMERSET HEALTH CARE FOUNDATION. BINNACLE HOUSE HELPS ADOLESCENT MALES RECOVER FROM TRAUMA, ADVERSITY AND STRESS WHILE SEEKING TO SUPPORT THEIR GROWTH AS PARTICIPANTS IN THEIR COMMUNITY. MLK YOUTH CENTER PROVIDES A NUTURING, LEARNING ENVIRONMENT FOR SCHOOL CHILDREN FROM ALL ETHNIC BACKGROUNDS. SOMERSET HEALTH CARE FOUNDATION PROVIDES FUNDING TO ROBERT WOOD JOHNSON UNIVERSITY HOSPITAL SOMERSET - THE ONLY HOSPITAL IN SOMERSET COUNTY - ENABLING IT TO PROVIDE COMPREHENSIVE HEALTH CARE IN A PATIENT-FRIENDLY ENVIRONMENT.
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.
THREE $1,000 SCHOLARSHIPS WERE AWARDED IN 2018. THE APPLICANTS MUST BE A MEMBER IN GOOD STANDING OF FINANCIAL RESOURCES FEDERAL CREDIT UNION OR RESIDE IN SOMERSET, HUNTERDON OR MIDDLESEX 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 INSTITUTION. THE SIGNED APPLICATION MUST BE SUBMITTED WITH AN OFFICIAL HIGH SCHOOL TRANSCRIPT, AN SAT/ACT TRANSCRIPT PROVIDED THROUGH THE STUDENT'S SCHOOL GUIDANCE OFFICE AND 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/INVOLVEMENT, TEACHER REFERENCE AND PERSONAL GOALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Elbaum Treasurer | OfficerTrustee | 0.75 | $0 |
Frank Almeida Vice President | OfficerTrustee | 0.5 | $0 |
Lena Matthews President | OfficerTrustee | 0.5 | $0 |
Ann Gorczynski Secretary | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,448 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,255 |
| Noncash contributions included in lines 1a–1f | $3,235 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,703 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $1 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $477 |
| Net Income from Gaming Activities | $480 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,661 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,775 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,781 |
| Total functional expenses | $25,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,255 |
| Savings and temporary cash investments | $16,700 |
| 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 | $1,428 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,318 |
| 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 | $44,701 |
| Accounts payable and accrued expenses | $8,460 |
| 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 | $8,460 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $36,241 |
Grants Awarded
Over the last fiscal year, Financial Resources Fcu Foundationsinc has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Flemington, NJ PURPOSE: TO PROVIDE SUPPORT FOR ADOLESCENT MALES | $7,500 |
Bridgewater, NJ PURPOSE: TO FUND EDUCATION PROGRAM FOR MKL YOUTH CENTER | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Financial Resources Fcu Foundationsinc has recieved totaling $12.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Summer Camp Opportunities Promote Education Inc Astoria, NY | $2,178,412 | $1,193,095 |
Youth Foundation Inc New York, NY | $10,787,193 | $1,768,490 |
Children And Screens-Institute Of Digital Media And Child Developmen Jericho, NY | $4,602,497 | $2,120,604 |
Buffalo Sabres Foundation Buffalo, NY | $633,341 | $899,798 |
Joseph Tse Foundation A New Jersey Nonprofit Corporation Glen Rock, NJ | $3,861,723 | $4,134,009 |
Hm Sarij Family Foundation Inc Deer Park, NY | $3,225,960 | $1,832,873 |
Hugh Obrian Youth Leadership Latham, NY | $134,625 | $0 |
Kids Club Of Tarrytown & Sleepy Hollow Inc Tarrytown, NY | $204,713 | $0 |
Friends Of Hudson Youth Inc Hudson, NY | $157,295 | $198,282 |
Ymca Youth Foundation Of The Central Atlantic Area Asbury Park, NJ | $1,608,193 | $85,480 |
Young Womens College Prep Foundation Inc Rochester, NY | $46,616 | $0 |
Creative Waves Foundation New York, NY | $31,572 | $0 |