National Credit Union Foundation meets the 20 Standards for Charity Accountability.
National Credit Union Foundation (NCUF) reports that it works to make financial freedom achievable through their three major programs areas: credit union development education (DE program), disaster relief, and financial well-being for all. The DE program explores how credit unions can leverage their business model to solve development issues that act as barriers to the prosperity and financial well-being of their members and communities. NCUF supports disaster relief efforts through its Disaster Relief Fund and CUAid initiative. Lastly, the organization funds the efforts of credit unions and other non-profit organizations to measure and improve the financial health and well-being for all.
For the year ended December 31, 2020, National Credit Union Foundation's program expenses were:
CIF grants and outreach |
$707,708 |
Development education |
$500,996 |
Disaster relief |
$463,605 |
Program services |
$400,295 |
Financial well-being |
$395,392 |
Biz Kid$ |
$98,312 |
Total Program Expenses: |
$2,566,308 |
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Chief Executive
Christiane Gigi Hyland, Executive Director
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Compensation*
$437,573
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Chair of the Board
Teresa Campbell
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Chair's Profession / Business Affiliation
President and Chief Executive Officer, San Diego County Credit Union
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Board Size
17
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Paid Staff Size
12
*2020 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Internet, Invitations to fund raising events
Fundraising costs were 9% of related contributions. (Related contributions, which totaled $3,730,047, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on National Credit Union Foundation's audited financial statements for the year ended December 31, 2020.
Source of Funds |
Contributions |
$2,696,890 |
Community investment fund |
$524,419 |
Special events revenue, net |
$508,738 |
Other income |
$282,892 |
Program revenue |
$264,287 |
Investment returns, net |
$221,269 |
Total Income |
$4,498,495 |
- Programs: 67%
- Administrative: 25%
- Fundraising: 8%
Total Income |
$4,498,495 |
Program expenses |
$2,566,308 |
Fundraising expenses |
$326,072 |
Administrative expenses |
$991,918 |
Other expenses |
$0 |
Total expenses: |
$3,884,298 |
Income in Excess of Expenses |
$614,197 |
Beginning Net Assets |
$8,454,560 |
Other Changes In Net Assets |
$404,555 |
Ending Net Assets |
$9,473,312 |
Total Liabilities |
$652,352 |
Total Assets |
$10,125,664 |
Note: As noted in the above financial section, "other changes in net assets" refers to unrealized gains on investments.