Firstmark Credit Union Foundation
- Assets
- $195.3k
- Revenue
- $287.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Antonio, TX
- Founding
- Data as of
- 12/2022
- EIN
- 84-2953607
Organization Overview
Firstmark Credit Union Foundation is located in San Antonio, TX. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Firstmark Credit Union Foundation 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 12/2022, Firstmark Credit Union Foundation generated $287.5k in total revenue. All expenses for the organization totaled $104.9k during the year ending 12/2022. While expenses have increased by 123.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO FURTHER EDUCATION, TEACHER TRAINING AND DEVELOPMENT, HEALTH AND WELLNESS, FAMILY HEALTH AND STABILITY, YOUTH DEVELOPMENT, AND COMMUNITY SUSTAINABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE PROGRAMS RELATED TO IMPROVING ACADEMIC OUTCOMES, PARTICULARLY ACADEMIC OUTCOMES OF CHILDREN IN LOW INCOME FAMILIES RESIDING IN THE COMMUNITIES SERVED BY FIRSTMARK CREDIT UNION. GIVEN THAT POOR ACADEMIC PERFORMANCE IS CLOSELY CORRELATED WITH POOR HEALTH AND NUTRITION, HOUSING INSECURITY, AND UNSAFE NEIGHBORHOODS, THE FOUNDATION MAY ENGAGE IN THE DIRECT OPERATION OF PROGRAMS DESIGNED TO COMBAT THESE RISK FACTORS, SUCH AS HEALTH AND WELLNESS PROGRAMS, ACADEMIC ENRICHMENT PROGRAMS, COMMUNITY IMPROVEMENT PROGRAMS, AND THE PROVISION OF QUALITY AFFORDABLE HOUSING TO LOW INCOME FAMILIES AT OR BELOW COST. ALL SERVICES ARE PROVIDED AT NO COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Akers Dir./secreta | Trustee | 40 | $0 |
Mike Grundon Dir./vice Ch | Trustee | 40 | $0 |
Marisa Perez-Diaz Executive Di | Trustee | 40 | $0 |
Nathanael Tarwasokono Dir. Chairma | Trustee | 40 | $0 |
Veronica Teran Dir./treasur | Trustee | 40 | $0 |
Gregg Thorne Director | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $137,284 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,000 |
| Noncash contributions included in lines 1a–1f | $8,386 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,284 |
| Total Program Service Revenue | $0 |
| Investment income | $205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $287,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,500 |
| 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 | $8,386 |
| 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 | $104,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,333 |
| 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 | $195,333 |
| 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 | $195,333 |
| 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 | $195,333 |
Grants Awarded
Over the last fiscal year, Firstmark Credit Union Foundation has awarded $96,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CENTER FOR APPLIED SCIENCES AND TEC PURPOSE: TEACHER GRANTS | $80,000 |
ROBB ELEMENTARY SCHOOL PURPOSE: TRAGEDY RELIEF | $16,500 |