Wisconsin Credit Union Foundationinc
- Assets
- $832.4k
- Revenue
- $210.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 02/2008
- Data as of
- 12/2023
- 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 12/2023, Wisconsin Credit Union Foundationinc generated $210.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $214.1k during the year ending 12/2023. While expenses have increased by 14.3% per year over the past 9 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 43 individual grants totaling $415,425. 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
2023
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 $75,000 TO 5 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 23 INDIVIDUALS AS CREDIT UNION CERTIFIED FINANCIAL COUNSELORS (CCUFCS), BRINGING THE PROGRAM TOTAL TO OVER 275. IN ADDITION, MORE THAN 20 INDIVIDUALS COMPLETED THE RE-CERTIFICATION PROCESS. THE FOUNDATION ENGAGED WITH SYSTEM PARTNERS TO FACILITATE FICEP. THE PROGRAM USED THE CREDIT UNION NATIONAL ASSOCIATION'S CERTIFIED CREDIT UNION FINANCIAL COUNSELOR (CCUFC) TEXTBOOK, 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. PARTICIPANTS HAD THE OPPORTUNITY TO NETWORK WITH OTHER CCUFC-CERTIFIED INDIVIDUALS TO DISCUSS EXPANDING COUNSELING PROGRAMS IN THEIR CREDIT UNIONS. THE FOUNDATION PROCTORS THE DESIGNATION EXAMINATION FOR STUDENTS WHO EARN THE CCUFC DESIGNATION FOLLOWING SUCCESSFUL COMPLETION. FUNDS FROM THE FOUNDATION CUT THE COST OF PARTICIPATION BY MORE THAN HALF.
THE FOUNDATION AWARDED $40,530 IN INCLUSION GRANTS TO CREDIT UNIONS TO SUPPORT CREDIT UNIONS IN THEIR MISSION TO REACH UNSERVED AND UNREPRESENTED COMMUNITIES IN WISCONSIN THAT STRUGGLE TO BE SERVED BY TRADITIONAL FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Palma Chair (from May 2023) | OfficerTrustee | 0.19 | $0 |
Lora Benrud Vice Chair | OfficerTrustee | 0.19 | $0 |
Chris Felton Treasurer | OfficerTrustee | 0.19 | $0 |
Shelly Mellenberger Secretary | OfficerTrustee | 0.19 | $0 |
Brett Thompson Director | OfficerTrustee | 0.19 | $0 |
Kevin Hauser Chair (thru May 2023) | OfficerTrustee | 0.19 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $56,670 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $131,070 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $187,740 |
| Total Program Service Revenue | $19,970 |
| Investment income | $8,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,985 |
| Net Income from Gaming Activities | $3,242 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $210,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $138,030 |
| Grants and other assistance to domestic individuals. | $11,495 |
| 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 | $4,250 |
| 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 | $2,627 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $55,241 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $130 |
| Total functional expenses | $214,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,581 |
| Savings and temporary cash investments | $579,936 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,407 |
| 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 | $8,158 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,362 |
| Total assets | $832,444 |
| Accounts payable and accrued expenses | $11,065 |
| Grants payable | $0 |
| Deferred revenue | $35,572 |
| 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 | $46,637 |
| Net assets without donor restrictions | $785,807 |
| 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 | $832,444 |
Grants Awarded
Over the last fiscal year, Wisconsin Credit Union Foundationinc has awarded $135,530 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
VERVE A CREDIT UNION PURPOSE: FOR FRAUD SQUAD, A PARTNERSHIP WITH LOCAL LAW ENFORCEMENT AND CREATIVE PARTNERS TO CURB THE EFFECTS FRAUD AND SCAMS HAVE IN COMMUNITIES | $10,000 |
FORT COMMUNITY CREDIT UNION PURPOSE: TO IMPLEMENT PROGRAMS AND SERVICES FOR MULTI-CULTURAL MARKETS UTILIZING RESOURCES FROM COOPERA CONSULTING | $11,488 |
SOUTHERN LAKES CREDIT UNION PURPOSE: TO IMPLEMENT PROGRAMS AND SERVICES FOR MULTI-CULTURAL MARKETS UTILIZING RESOURCES FROM COOPERA CONSULTING | $8,914 |
CO-OP CREDIT UNION PURPOSE: TO IMPLEMENT PROGRAMS AND SERVICES FOR MULTI-CULTURAL MARKETS UTILIZING RESOURCES FROM COOPERA CONSULTING | $9,713 |
PROSPERA CREDIT UNION PURPOSE: TO IMPLEMENT PROGRAMS AND SERVICES FOR MULTI-CULTURAL MARKETS UTILIZING RESOURCES FROM COOPERA CONSULTING | $10,415 |
BADGER GLOBE CREDIT UNION PURPOSE: TO UPGRADE LENDING SOFTWARE | $15,000 |