Alabama Credit Union Foundation Inc
- Assets
- $885.0k
- Revenue
- $544.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Tuscaloosa, AL
- Founding
- 01/2015
- Data as of
- 12/2023
- EIN
- 45-5638180
Organization Overview
Alabama Credit Union Foundation Inc is located in Tuscaloosa, AL. The organization was established in 2015. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alabama Credit Union Foundation 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 12/2023, Alabama Credit Union Foundation Inc generated $544.2k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $302.7k during the year ending 12/2023. While expenses have increased by 8.0% 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, Alabama Credit Union Foundation Inc has awarded 28 individual grants totaling $2,205,500. 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
TO STRENGTHEN AND IMPROVE THE QUALITY OF LIFE IN THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DEVELOPED THE "SECRET MEALS FOR HUNGRY CHILDREN" PROGRAM THROUGH PARTNERSHIPS WITH LOCAL FOOD BANKS WITH THE OBJECTIVE OF ADDRESSING THE ISSUE OF HUNGER FACING ELEMENTARY SCHOOL CHILDREN. THE PROGRAM SERVES MANY CHILDREN RECEIVING FREE OR REDUCED COST MEALS AT SCHOOL, BUT THE PROGRAM IS OPEN TO ANY CHILD IDENTIFIED BY SCHOOL OFFICIALS AS GOING HUNGRY OVER THE WEEKEND. THE SECRET MEALS PROGRAM SUPPLIES IDENTIFIED UNDER-NOURISHED ELEMENTARY SCHOOL-AGED CHILDREN WITH A 3.5 POUND FOOD PACKS IN THEIR BACKPACKS EVERY FRIDAY THROUGHOUT THE SCHOOL YEAR TO SUSTAIN THEM DURING THE WEEKEND FEEDING GAPS WHEN THEIR SCHOOL'S FREE/REDUCED COST MEALS ARE NOT AVAILABLE. THIS IS DONE ANONYMOUSLY, WHILE THE CHILDREN ARE OUT OF THE CLASSROOM, TO PREVENT THE CHILD FROM BEING SINGLED OUT OR MADE TO FEEL UNCOMFORTABLE. THE PROGRAM SERVES OVER 2,000 CHILDREN ACROSS SEVERAL COUNTIES IN ALABAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Swofford President | OfficerTrustee | 1 | $0 |
Susan Daria Vice-President | OfficerTrustee | 1 | $0 |
Kelley Porter Treasurer | OfficerTrustee | 1 | $0 |
Sara H Crocker Director | Trustee | 1 | $0 |
Kim Riley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $87,102 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $453,178 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $540,280 |
| Total Program Service Revenue | $0 |
| Investment income | $1,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,122 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $544,226 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $302,690 |
| 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 | $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 | $0 |
| Total functional expenses | $302,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $885,029 |
| 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 | $885,029 |
| 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 | $885,029 |
| 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 | $885,029 |
Grants Awarded
Over the last fiscal year, Alabama Credit Union Foundation Inc has awarded $297,131 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WEST ALABAMA FOOD BANK PURPOSE: TO PURCHASE FOOD FOR THE SECRET MEAL FOOD PACKS. | $245,660 |
FOOD BANK OF NORTH ALABAMA PURPOSE: TO PURCHASE FOOD FOR THE SECRET MEAL FOOD PACKS. | $33,270 |
FEEDING THE GULF COAST FOOD BANK PURPOSE: TO PURCHASE FOOD FOR THE SECRET MEAL FOOD PACKS. | $18,201 |