Overview
What is Southeastern Credit Union Foundation?
The Southeastern Credit Union Foundation is a nonprofit organization situated in Tallahassee, Florida. Its primary mission is to promote science, education, and charitable purposes related to consumer credit. The foundation fosters collaboration among credit unions in Florida, Alabama, and Georgia to tackle common development issues within their respective communities. Notably, Alabama and Georgia have chosen to provide scholarships for historically Black College & University (HBCU) students, offering financial assistance to underserved and first-generation college students attending HBCUs in their states. Meanwhile, Florida is engaged in a job upscaling project in conjunction with Generations USA, aiming to train and place job candidates, including those who are displaced or disengaged from the current workforce, in Florida credit unions.
Official website here: www.lscu.coop/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star Rating)
The Southeastern Credit Union Foundation has achieved an impressive 96% score, which reflects its strong commitment to accountability and finance. This rating is derived solely from a single beacon score, indicating that the foundation has effectively implemented rigorous financial practices and transparency measures during its most recent fiscal year, FY2022.
The organization showcases an exemplary governance structure, with 90% of its board members being independent. This independence is crucial for unbiased decision-making. Furthermore, the foundation has been recognized for its comprehensive financial oversight, including a robust audit and oversight committee, and it has demonstrated a commendable commitment to ethical policies, such as conflict of interest and whistleblower policies.
Despite its strengths, it is important to note that the rating is based on financial metrics alone, which may not provide a complete picture of the foundation's overall impact or effectiveness in its mission. However, the high program expense ratio of 81.02% suggests that a significant portion of its resources is directed toward its programs, reinforcing its role in supporting the credit union community.
This AI summary has been generated from information found on Charity Navigator.
Is Southeastern Credit Union Foundation legitimate?
Southeastern Credit Union Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeastern 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.lscu.coop/foundation
What is the mission statement of Southeastern Credit Union Foundation?
The Southeastern Credit Union Foundation operates with a mission to advance science, charity, and education, focusing particularly on consumer credit matters. It operates for charitable purposes, primarily in the field of consumer credit. The foundation engages in various initiatives, such as the Community Sparks Program, which encourages collaboration among credit unions to address community development issues. In Alabama and Georgia, this program provides scholarships to historically black college and university students who are underserved or first-generation college attendees. Florida, on the other hand, is involved in a job upscaling project with Generation USA, aimed at training and placing job candidates who are either displaced or disengaged from the current workforce in Florida credit unions.
Official website here: www.lscu.coop/foundation
Who is the CEO of Southeastern Credit Union Foundation?
Dr Wen Hemingway is the Ceo of Southeastern Credit Union Foundation. The CEO's salary of Southeastern Credit Union Foundation is $0 and their total compensation is $959,439.
Official website here: www.lscu.coop/foundation
What is the revenue of Southeastern Credit Union Foundation?
Southeastern Credit Union Foundation's revenue in 2022 was $1,569,313.
Official website here: www.lscu.coop/foundation
Who are the executives of Southeastern Credit Union Foundation and what are their salaries?
There 30 volunteers at Southeastern Credit Union Foundation.
Here are 14 key members and their salaries (Southeastern Credit Union Foundation's CEO's salary is $0 and their total compensation is $959,439):
- Compensation: $0
- Related: $844,537
- Other: $114,902
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- Related: $0
- Other: $0
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- 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
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $264,378
- Other: $122,221
- Compensation: $0
- Related: $277,835
- Other: $74,670
Official website here: www.lscu.coop/foundation
Where can I find the form 990 for Southeastern Credit Union Foundation?
Southeastern Credit Union Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lscu.coop/foundation
Learn more at the official website: www.lscu.coop/foundation
Mission Statement of Southeastern Credit Union Foundation
The Southeastern Credit Union Foundation is an organization committed to advancing science, education, and other consumer credit-related charitable purposes. Operating with the objective of promoting advancement in these areas, the foundation has a mission to operate for the betterment of science, charity, and education, with a specific focus on consumer credit. The foundation's initiatives are geared towards serving various charitable purposes, especially in relation to consumer credit.
In an effort to make a tangible impact in the communities they serve, the Southeastern Credit Union Foundation has launched the Community Sparks Program. This program aims to foster collaboration among credit unions in Florida, Alabama, and Georgia, addressing pressing development issues in their respective communities. The program in Alabama and Georgia has chosen to support historically Black College & University (HBCU) scholarships, providing financial assistance to underprivileged and first-generation college students attending HBCUs within their states. In Florida, the foundation is engaged in a job upscaling project in conjunction with Generation USA. The goal of this project is to equip displaced or disengaged job candidates with the necessary skills, preparing them for employment opportunities within Florida credit unions.
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Impact
July, 2024
Southeastern Credit Union Foundation's impact can be seen through its innovative Community Sparks Program, which aims to spark collaboration among credit unions in Florida, Alabama, and Georgia to address overarching development issues within their communities. In Alabama and Georgia, the foundation has chosen to provide scholarships to historically Black colleges and universities, offering financial assistance to underserved and first-generation college students in these states. In Florida, the foundation is working on a job upscaling project in collaboration with Generations USA to train job candidates who are displaced or disengaged in the current workforce and place them in Florida credit unions. Through these initiatives, Southeastern Credit Union Foundation is making a significant impact on education, workforce development, and community empowerment in the region.
This information is meant to be a general summary of Southeastern 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: -$374,128
- Gross Receipts: $2,457,696
Assets and Liabilities:
- Total Assets: $4,926,905
- Total Liabilities: $97,165
- Net Assets: $4,829,740
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Organization Details
Founding Year
1982
Phone
(866) 231-0545Principal Officer
Dr Wen Hemingway
Main Address
3692 COOLIDGE COURT, TALLAHASSEE, FL, 32311
Website
www.lscu.coop/foundationNTEE Category
Code: T30 - Philanthropy
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