Overview
What is Minnesota Credit Union Foundation?
Minnesota Credit Union Foundation is a nonprofit organization situated in Saint Paul, Minnesota, specifically at 555 WABASHA ST N SUITE 200. Their primary mission is to foster the growth and betterment of challenged credit unions within Minnesota and their surrounding communities. They achieve this through educational resources and assistance. Moreover, the foundation is dedicated to supporting the broader societal objectives of the credit union movement. As part of its social mission, Minnesota Credit Union Foundation raises funds for Gillette Children's Specialty Healthcare, which falls under the Children's Miracle Network. In 2022, they held six statewide fundraisers and additional minor events that collected donations for this noble cause.
Official website here: www.mncun.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Stars)
The Minnesota Credit Union Foundation has received a Two-Star rating from Charity Navigator, primarily due to its score of 73% in Accountability & Finance. This rating reflects a strong emphasis on responsible financial management and accountability practices, with notable scores in areas such as having a fully independent board and no diversion of assets.
Strengths include a high program expense ratio of 97.01%, indicating that the majority of expenses are directed toward its programs rather than administrative costs. Additionally, the foundation scores well for having a conflict of interest policy and maintaining detailed board meeting minutes. However, it does have some weaknesses, notably the absence of a whistleblower policy and document retention and destruction policies, which could affect its overall governance evaluation.
While the organization demonstrates effective financial practices, the missing policies may raise concerns regarding transparency and accountability. Stakeholders might want to consider these factors when evaluating the foundation's overall impact and governance structure.
This AI summary has been generated from information found on Charity Navigator.
Is Minnesota Credit Union Foundation legitimate?
Minnesota Credit Union Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Minnesota Credit Union Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mncun.org
What is the mission statement of Minnesota Credit Union Foundation?
The Minnesota Credit Union Foundation's mission is centered around promoting the growth and development of challenged credit unions within their communities. This is achieved through the provision of assistance and educational resources. Furthermore, the foundation supports the broader social mission of the credit union movement. As part of its activities, the foundation runs the Credit Union for Kids program, which raises funds to support children's healthcare, specifically the Gillette Children's Specialty Healthcare and the Children's Miracle Network. The foundation organizes various fundraisers to collect donations, with the total contributions for the year directly benefiting the children in need.
Official website here: www.mncun.org
Who is the CEO of Minnesota Credit Union Foundation?
Doug Ralston is the Chair of Minnesota Credit Union Foundation.
Official website here: www.mncun.org
What is the revenue of Minnesota Credit Union Foundation?
Minnesota Credit Union Foundation's revenue in 2022 was $607,518.
Official website here: www.mncun.org
Who are the executives of Minnesota Credit Union Foundation and what are their salaries?
There 25 volunteers at Minnesota Credit Union Foundation.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $426,942
- Other: $32,106
- Compensation: $0
- Related: $211,493
- Other: $6,171
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mncun.org
Where can I find the form 990 for Minnesota Credit Union Foundation?
Minnesota Credit Union Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mncun.org
Learn more at the official website: www.mncun.org
Mission Statement of Minnesota Credit Union Foundation
The Minnesota Credit Union Foundation, an organization dedicated to promoting the growth and development of challenged credit unions within Minnesota and their surrounding communities, carries out its mission through assistance and education. This is done with the intention of supporting the larger social mission of the credit union movement. The foundation's efforts aim to bolster the resilience of these credit unions, thereby empowering their communities.
In line with this mission, the Minnesota Credit Union Foundation spearheads various initiatives, one of which is Credit Union for Kids. This ongoing program is designed to raise funds for Gillette Children's Specialty Healthcare, which is also a part of the Children's Miracle Network. Each year, the organization collects and donates all proceeds to aid children in need of specialized medical care. In 2022, the MNCU4Kids Committee organized six statewide fundraisers, with some donors also holding minor events that added to the total funds contributed to Gillette Children's Specialty Healthcare. This commitment to supporting children's healthcare through fundraising activities is a testament to the Minnesota Credit Union Foundation's dedication to its mission.
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Impact
July, 2024
The Minnesota Credit Union Foundation's impact is significant in promoting the development of challenged credit unions in Minnesota and their communities through assistance and education. One of their key programs, Credit Union for Kids, raises funds to support Gillette Children's Specialty Healthcare and the Children's Miracle Network. In 2022, the organization held six statewide fundraisers, and additional donors organized minor fundraisers to raise more funds for the cause. All donations received are directed to help the children in need. This demonstrates the Foundation's dedication to supporting the greater social mission of the credit union movement and making a positive impact on the community.
This information is meant to be a general summary of Minnesota Credit Union Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,830
- Gross Receipts: $630,106
Assets and Liabilities:
- Total Assets: $878,020
- Total Liabilities: $9,277
- Net Assets: $868,743
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Organization Details
Founding Year
1969
Phone
(651) 288-5170Principal Officer
Doug Ralston
Main Address
555 WABASHA ST N SUITE 200, ST PAUL, MN, 55102
Website
www.mncun.orgNTEE Category
Code: T30 - Philanthropy
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