Franklin Mint Federal Credit Unionfoundation Inc
- Assets
- $298.1k
- Revenue
- $146.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Chadds Ford, PA
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 26-0413862
Organization Overview
Franklin Mint Federal Credit Unionfoundation Inc is located in Chadds Ford, PA. The organization was established in 2008. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Franklin Mint Federal Credit Unionfoundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin Mint Federal Credit Unionfoundation Inc 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 12/2021, Franklin Mint Federal Credit Unionfoundation Inc generated $146.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $80.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE ARM OF FRANKLIN MINT FEDERAL CU MISSION TO SUPPORT CHARITABLE CAUSES AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MANAGES AND PROVIDES FINANCIAL SUPPORT TO THE ANNUAL DELCO HI-Q ACADEMIC COMPETITION FOR HIGH SCHOOL STUDENTS CO - SPONSORED BY THE FOUNDATION AND THE DELAWARE COUNTY INTERMEDIATE UNIT. THE FOUNDATION ALSO SUPPORTS ELEMENTARY SCHOOLS IN SPONSORING EDUCATIONALLY BASED FIELD TRIPS FOR STUDENTS AND FINANCIAL LITERACY PROGRAMS IN ELEMENTARY, MIDDLE AND HIGH SCHOOLS. AWARDS ARE ALSO GIVEN ANNUALLY TO HIGH SCHOOLS, TO HONOR THEIR TEACHERS WHO EXEMPLIFY SUPPORT FOR FINANCIAL LITERACY THAT THIS FOUNDATION PROMOTES TO YOUTHS AND FOR TEACHING EXCELLENCE. THE FOUNDATION REACHES THOUSANDS OF STUDENTS IN FINANCIAL LITERACY LESSONS IN SOUTHEASTERN PENNSYLVANIA AND NORTHERN DELAWARE.
TEACHER MINI GRANTS - FRANKLIN MINT FEDERAL CREDIT UNION FOUNDATION FUNDS INNOVATIVE EDUCATIONAL EXPERIENCES FOR K-12 STUDENTS THAT MAY NOT OTHERWISE BE FUNDED IN THE SCHOOL YEAR. TEACHERS MAY REQUEST FUNDS FOR CLASSROOM SUPPLIES, TECHNOLOGY, BOOKS, FUNDING FOR CLASSROOM PROJECTS OR PROGRAMS. AMOUNTS GIVEN ARE UP TO $500 PER APPLICANT. APPLICANTS MUST TEACH AT A SCHOOL LOCATED IN CHESTER, DELAWARE, MONTGOMERY, NEW CASTLE COUNTIES, WEST PHILADELPHIA, OR UNIVERSITY CITY.
JOHN D. UNANGST MEMORIAL SCHOLARSHIP- FMFCU FOUNDATION AWARDS FIVE ONE-TIME SCHOLARHIPS TO GRADUATING HIGH SCHOOL SENIORS. STUDENTS APPLY BY SUBMITTING TRANSCRIPTS AND AN ESSAY. A PANEL JUDGES THE SUBMISSIONS WITHOUT KNOWLEDGE OF THE IDENTITY OF STUDENTS OR SCHOOLS. EACH RECIPIENT IS AWARDED $3,000, PAYABLE TO THE POST-SECONDARY SCHOOL OF HIS OR HER CHOICE FOR QUAILIFIED EXPENSES. DELAWARE COUNTY COMMUNITY COLLEGE FOUNDATION IS GIVEN $3,000 TO AWARD STUDENT SCHOLARSHIPS THROUGH THEIR FUND. FMFCU FOUNDATION DOES NOT ADMINISTER THEIR PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Harry J Jamison President | OfficerTrustee | 1 | $0 |
Maria Rolston Vice President/secretary | OfficerTrustee | 1 | $0 |
Michael B Magnavita Treasurer | OfficerTrustee | 1 | $0 |
Richard V Durante Jr Executive Director | Officer | 16 | $0 |
Dr Lois Snyder Director | Trustee | 1 | $0 |
William Taylor Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,918 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,015 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,933 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $51,698 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $146,631 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,025 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,131 |
| 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 | $50 |
| 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 | $0 |
| Total functional expenses | $80,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $194,558 |
| Pledges and grants receivable | $103,494 |
| 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 | $298,052 |
| 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 | $199,508 |
| Net assets with donor restrictions | $98,544 |
| 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 | $298,052 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Franklin Mint Federal Credit Unionfoundation Inc has recieved totaling $39.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $39 |
Peer Organizations
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|---|---|---|
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Jackie Robinson Foundation Inc New York, NY | $30,161,175 | $8,662,334 |
Gilder Lehrman Institute Of American History New York, NY | $67,600,972 | $8,993,543 |
Siemens Foundation Iselin, NJ | $75,710,306 | $10,400,455 |
East Side Charter School Of Wilmington Inc Wilmington, DE | $9,042,787 | $7,810,738 |
Target Als Foundation Inc New York, NY | $26,527,264 | $6,977,665 |
Pursuit Transformation Company Inc Long Island City, NY | $13,294,970 | $6,856,404 |
Firemens Association Of The State New York Foundation Inc Albany, NY | $161,398,482 | $10,617,589 |
Morgan Stanley Foundation Inc New York, NY | $117,614,938 | $39,846,453 |
Brooklyn College Foundation Inc Brooklyn, NY | $101,301,645 | $6,939,639 |
The One Love Foundation In Honor Of Yeardley Love Inc Bronxville, NY | $10,162,225 | $8,418,764 |