Northwest Credit Union Foundation
- Assets
- $6.5m
- Revenue
- $1.4m
- Investments
- $4.5m
- Employees
- 0
- Location
- Seatac, WA
- Founding
- 04/1997
- Data as of
- 12/2021
- EIN
- 91-1649328
Organization Overview
Northwest Credit Union Foundation is located in Seatac, WA. The organization was established in 1997. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest 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 12/2021, Northwest Credit Union Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $903.1k during the year ending 12/2021. While expenses have increased by 7.2% 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 2014, Northwest Credit Union Foundation has awarded 83 individual grants totaling $1,927,366. 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
POWERED BY A NETWORK OF CREDIT UNIONS, WE ARE UNIQUELY POSITIONED TO HARNESS AND DELIVER RESOURCES THAT STRENGTHEN THE FINANCIAL LIVES OF PEOPLE AND COMMUNITIES THROUGHOUT THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GRANTS DEVELOPMENT PROGRAM AND PUBLIC EDUCATION PROGRAM PROVIDED FUNDS TO CREDIT UNIONS AND THEIR STAFF FOR PROGRAMS AND EDUCATION FOCUSED ON IMPROVING THE FINANCIAL LIVES OF PEOPLE AND COMMUNITIES ACROSS THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy Stang President | Officer | 1 | $0 |
Charolette Nemec Director | Trustee | 1 | $0 |
Nora Carpenter Director | Trustee | 1 | $0 |
Kelly Schrader Vice Chair | Trustee | 1 | $0 |
Jackie Hoonjan Director | Trustee | 1 | $0 |
Tom Berquist Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,248,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,248,018 |
| Total Program Service Revenue | $0 |
| Investment income | $141,684 |
| 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 | $1,389,702 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $463,052 |
| 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 | $172,926 |
| 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 | $11,979 |
| Advertising and promotion | $0 |
| Office expenses | $900 |
| Information technology | $2,527 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,636 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,324 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $903,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,743,698 |
| Pledges and grants receivable | $10,000 |
| Accounts receivable, net | $172,825 |
| 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 | $3,750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,548,437 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,478,710 |
| Accounts payable and accrued expenses | $1,500 |
| 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 | $1,500 |
| Net assets without donor restrictions | $5,808,162 |
| Net assets with donor restrictions | $669,048 |
| 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 | $6,478,710 |
Grants Awarded
Over the last fiscal year, Northwest Credit Union Foundation has awarded $280,553 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Portland, OR PURPOSE: FINANCIAL EMPOWERMENT GRANT | $136,500 |
pocatello, ID PURPOSE: RURAL ACCESS PLANNING GRANT | $57,000 |
Spokane, WA PURPOSE: ECONOMIC EMPOWERMENT GRANT | $45,000 |
pocatello, ID PURPOSE: EMERGENCY LOAN/WORKER RELIEF PROGRAM | $21,753 |
OLD WEST FCU PURPOSE: RURAL ACCESS PLANNING GRANT | $10,300 |
Albany, OR PURPOSE: RURAL ACCESS PLANNING GRANT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Northwest Credit Union Foundation has recieved totaling $381,158.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: Other | $150,000 |
Unitus Community Credit Union Portland, OR PURPOSE: GENERAL SUPPORT | $60,585 |
Potlatch No 1 Federal Credit Union Lewiston, ID PURPOSE: UNRESTRICTED | $51,075 |
Advantis Credit Union Clackamas, OR PURPOSE: 2021 MAXX EVENT LIVE AUCTION BID | $25,000 |
Credit Unions In The State Of Washington Tacoma, WA PURPOSE: CU4KIDS | $25,000 |
Credit Unions In The State Of Washington Tukwila, WA PURPOSE: DONATION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Action Partnership Of San Luis Obispo County Inc San Luis Obispo, CA | $35,822,140 | $99,105,503 |
Presbyterian Retirement Communities Northwest Bellevue, WA | $589,407,305 | $86,965,439 |
The Neighborhood House Assn San Diego, CA | $20,146,968 | $97,699,697 |
The Young Mens Christian Association Of Greater Seattle Seattle, WA | $265,124,230 | $94,589,187 |
Community Eldercare Of San Diego San Diego, CA | $76,291,474 | $103,929,835 |
Childrens Institute Inc Los Angeles, CA | $89,508,434 | $91,993,949 |
Center For Elders Independence Oakland, CA | $163,334,060 | $110,881,645 |
Lighthouse For The Blind Inc Seattle, WA | $80,430,822 | $96,974,887 |
Volunteers Of America Inc Everett, WA | $26,706,737 | $84,543,927 |
Pioneer Human Services Seattle, WA | $87,958,344 | $86,152,025 |
Sbcs Corporation Chula Vista, CA | $44,117,675 | $87,559,700 |
Aspiranet South San Francisco, CA | $26,806,344 | $80,729,845 |