Wisconsin Credit Union Foundationinc
- Assets
- $779.3k
- Revenue
- $188.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 02/2008
- Data as of
- 12/2021
- EIN
- 26-0819612
Organization Overview
Wisconsin Credit Union Foundationinc is located in Madison, WI. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Credit Union Foundationinc 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, Wisconsin Credit Union Foundationinc generated $188.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $147.9k during the year ending 12/2021. While expenses have increased by 12.6% per year over the past 7 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.
Since 2015, Wisconsin Credit Union Foundationinc has awarded 24 individual grants totaling $200,815. 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
FOUNDATION RESOURCES PROMOTE CREDIT UNION DEVELOPMENT, HELP EDUCATE CREDIT UNION STAFF AND VOLUNTEERS, SUPPORT PROGRAMMING TO ENHANCE FINANCIAL LITERACY, AND SUPPORT THE CREDIT UNION SYSTEM IN TIMES OF NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED GRANTS TOTALING $65,464 TO 9 WISCONSIN CREDIT UNIONS IN NEED OF SUPPORT FOR TECHNOLOGY AND OPERATIONS RELATED EXPENSES AND UPGRADES THAT WILL MEASURABLY ASSIST THE CREDIT UNION IN SERVING ITS MEMBERS.
THE FOUNDATION INVESTED IN THE FINANCIAL COUNSELING CERTIFICATION PROGRAM (FICEP) THAT CREDENTIALED 27 INDIVIDUALS AS CREDIT UNION CERTIFIED FINANCIAL COUNSELORS (CCUFCS), BRINGING THE TWO-YEAR TOTAL TO OVER 240. IN ADDITION, 23 INDIVIDUALS COMPLETED THE RE-CERTIFICATION PROCESS. THE FOUNDATION ENGAGED WITH SYSTEM PARTNERS TO FACILITATE FICEP. THE PROGRAM USED THE CREDIT UNION NATIONAL ASSOCIATION'S EXISTING FICEP TRAINING, WHICH INVOLVES SELF STUDY AND A SERIES OF WEBINARS, AND ENHANCED IT WITH ADDITIONAL PROGRAM CONTENT. THE ADDITIONAL CONTENT OFFERED INSIGHTS TO HELP PARTICIPANTS INTEGRATE COUNSELING ACROSS MULTIPLE TOUCH-POINTS WITH MEMBERS, THEREBY BROADENING THE SCOPE AND EFFECTIVENESS OF THEIR EFFORT. FUNDS FROM THE FOUNDATION CUT THE COST OF PARTICIPATION BY MORE THAN HALF.
THE FOUNDATION AWARDED $15,250 IN REAL SOLUTIONS GRANTS TO CREDIT UNIONS TO IMPLEMENT INNOVATIVE SERVICES AND PROGRAMS TO HELP BUILD FINANCIALLY STRONG, SELF-SUPPORTING FAMILIES AND COMMUNITIES IN WISCONSIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Thompson Director | OfficerTrustee | 0.19 | $0 |
Kevin Hauser Chair | OfficerTrustee | 0.19 | $0 |
Chris Felton Treasurer | OfficerTrustee | 0.19 | $0 |
Liza Edinger Vice Chair (thru Nov) | OfficerTrustee | 0.19 | $0 |
Lora Benrud Secretary | OfficerTrustee | 0.19 | $0 |
Lisa Palma Director | Trustee | 0.19 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,445 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $139,923 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,368 |
| Total Program Service Revenue | $17,470 |
| Investment income | $2,987 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,698 |
| Net Income from Gaming Activities | $778 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,905 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $87,248 |
| Grants and other assistance to domestic individuals. | $13,395 |
| 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 | $400 |
| 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 | $1,190 |
| 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 | $45,503 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $115 |
| Total functional expenses | $147,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,757 |
| Savings and temporary cash investments | $571,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,400 |
| 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 | $337 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,065 |
| Total assets | $779,314 |
| Accounts payable and accrued expenses | $6,648 |
| Grants payable | $0 |
| Deferred revenue | $14,082 |
| 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 | $2,500 |
| Total liabilities | $23,230 |
| Net assets without donor restrictions | $756,084 |
| 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 | $779,314 |
Grants Awarded
Over the last fiscal year, Wisconsin Credit Union Foundationinc has awarded $64,400 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Hayward, WI PURPOSE: TO FUND REMOTE CAPTURE, BUSINESS DEBIT CARDS AND MOBILE BANKING. | $10,000 |
Marshfield, WI PURPOSE: TO FUND ESIGNATURE ADOPTION. | $10,000 |
Tomah, WI PURPOSE: TO FUND A ROOF REPLACEMENT. | $10,000 |
Hurley, WI PURPOSE: TO FUND TECHNOLOGY UPGRADES. | $8,000 |
Green Bay, WI PURPOSE: TO FUND EMAIL MARKETING AND CONSULTING. | $7,950 |
Eau Claire, WI PURPOSE: TO FUND VIRTUAL FINANCIAL EDUCATION FOR YOUNG ADULTS AND TO SUPPORT JAIL-BASED FINANCIAL EDUCATION PROGRAM. | $7,750 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wisconsin Credit Union Foundationinc has recieved totaling $56.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |