Overview
What is Carolinas Credit Union Foundation?
Carolinas Credit Union Foundation is a philanthropic partner to credit unions in North and South Carolina. Its mission is to empower and inspire these financial institutions by collaborating on projects that enrich their communities. The foundation supports charitable giving through providing scholarships and community grants, serving as a platform for credit unions to showcase their philanthropic efforts. Based in Columbia, South Carolina, the foundation has a small team of two dedicated individuals committed to its cause.
Official website here: www.carolinasfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
The Carolinas Credit Union Foundation has achieved a commendable Four-Star rating from Charity Navigator, reflecting strong accountability and financial health. The organization has scored highly in various categories, showcasing a majority independent board and a solid financial oversight framework. This high score indicates effective management practices, ensuring that a significant portion of their funding is directed towards their programs.
Strengths highlighted include no material diversion of assets, a favorable liabilities to assets ratio, and exceptional fundraising efficiency. These factors suggest that the foundation operates with transparency and effectiveness, maximizing resources dedicated to its mission. Furthermore, their documentation practices for board meeting minutes and the absence of loans to officers reflect prudent governance.
However, it is important to note some limitations. The foundation lacks a whistleblower policy and a document retention and destruction policy, which could present risks in terms of governance and compliance. Despite these concerns, the overall performance indicates a well-managed nonprofit committed to its financial responsibilities and accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Carolinas Credit Union Foundation legitimate?
Carolinas Credit Union Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carolinas 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: $215,945
For more financial information, click here
Official website here: www.carolinasfoundation.org
What is the mission statement of Carolinas Credit Union Foundation?
The Carolinas Credit Union Foundation's mission is to support credit unions in North and South Carolina by providing educational scholarships and community grants. The foundation acts as a philanthropic partner, empowering credit unions and their chapters to engage in social responsibility initiatives. It inspires credit unions by celebrating their philanthropic efforts and collaborates with them on programs and projects that align with the cooperative principle of community concern. The primary objective of the foundation is to empower and inspire credit unions in North and South Carolina, enriching their communities through collaborative opportunities.
Official website here: www.carolinasfoundation.org
Who is the CEO of Carolinas Credit Union Foundation?
Lauren Whaley is the Executive Di of Carolinas Credit Union Foundation.
Official website here: www.carolinasfoundation.org
What is the revenue of Carolinas Credit Union Foundation?
Carolinas Credit Union Foundation's revenue in 2022 was $3,334,879.
Official website here: www.carolinasfoundation.org
Who are the executives of Carolinas Credit Union Foundation and what are their salaries?
The average compensation at Carolinas Credit Union Foundation during 2022 was $107,972. There are 2 employees and 100 volunteers at Carolinas Credit Union Foundation.
Here are 16 key members and their salaries:
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- Other: $13,880
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Official website here: www.carolinasfoundation.org
Where can I find the form 990 for Carolinas Credit Union Foundation?
Carolinas Credit Union Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.carolinasfoundation.org
Learn more at the official website: www.carolinasfoundation.org
Mission Statement of Carolinas Credit Union Foundation
The Carolinas Credit Union Foundation, as a philanthropic partner to all credit unions in North and South Carolina, is dedicated to providing educational scholarships and assisting credit unions in their charitable giving efforts. Their mission is threefold: firstly, they empower credit unions to take the lead in social responsibility initiatives that align with their values and goals; secondly, they inspire credit unions by showcasing and celebrating their philanthropic accomplishments; and lastly, they collaborate on programs and projects that uphold the cooperative principle of community concern. In essence, the Carolinas Credit Union Foundation aims to empower and inspire credit unions in North and South Carolina through collaborative opportunities that enrich their communities.
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Impact
July, 2024
Carolinas Credit Union Foundation empowers and inspires credit unions in the Carolinas through collaborative opportunities to enrich our communities. Through providing educational scholarships and support to credit unions in North and South Carolina, the foundation plays a significant role in advancing education and community development in the region. Its impact extends to fostering social responsibility efforts and celebrating philanthropic initiatives within the credit union industry. By collaborating on programs and projects that support the cooperative principle of concern for the community, the foundation contributes to the overall well-being and prosperity of the Carolinas.
This information is meant to be a general summary of Carolinas 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: $50,049
- Gross Receipts: $3,459,250
Assets and Liabilities:
- Total Assets: $4,718,312
- Total Liabilities: $245,202
- Net Assets: $4,473,110
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Organization Details
Founding Year
1993
Phone
(336) 299-6286Principal Officer
Lauren Whaley
Main Address
PO BOX 1787, COLUMBIA, SC, 29202
Website
www.carolinasfoundation.orgNTEE Category
Code: B82Z - Education
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