Overview
What is Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation?
The Credit Union Foundation of New Mexico, formerly known as NM Cu Education Foundation, is a nonprofit organization based in Albuquerque, New Mexico. Its primary mission is to award scholarships to eligible students residing in New Mexico, who are pursuing higher education at accredited universities, colleges, or trade schools within the state. In 2022, the foundation distributed over 138 scholarships, totaling $138,000. This sum was partially offset due to some recipients not meeting the scholarship requirements. The foundation manages and administers funds contributed by credit unions, utilizing them for educational and charitable purposes, primarily by granting scholarships and making bequests to New Mexico's accredited universities, colleges, and trade schools.
Is Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation legitimate?
Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Credit Union Foundation Of New Mexico Fka Nm Cu Education 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:
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What is the mission statement of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation?
The Credit Union Foundation of New Mexico, formerly known as the NM Cu Education Foundation, is primarily focused on managing and administering funds contributed by credit unions as unclaimed funds. This is achieved by granting scholarships to students and making bequests to accredited universities, colleges, and trade schools within New Mexico. The organization's mission is to expend these funds for educational and charitable purposes, primarily through scholarship grants and university donations. In 2022, the foundation awarded over 138 scholarships totaling $138,000. However, some scholarship money was returned due to recipients declining the scholarship requirements.
Who is the CEO of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation?
Rebecca Isaacs is the Chairman of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation.
What is the revenue of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation?
Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation's revenue in 2022 was $433,436.
Who are the executives of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation and what are their salaries?
There 7 volunteers at Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation.
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Where can I find the form 990 for Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation?
Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Credit Union Foundation Of New Mexico Fka Nm Cu Education Foundation
The Credit Union Foundation of New Mexico, formerly known as NM CU Education Foundation, is a dedicated organization that manages and administers funds contributed by credit unions. Its primary mission is to allocate these funds, which originate from unclaimed funds derived from abandoned individual depositor accounts, towards educational and charitable purposes. The foundation achieves this mission primarily by granting scholarships to students and making bequests to accredited universities, colleges, and trade schools situated within the state of New Mexico.
In essence, the Credit Union Foundation of New Mexico serves as a bridge between credit unions and deserving students, channeling unclaimed funds into higher education opportunities. This philanthropic initiative not only benefits students but also contributes to the development of New Mexico's educational institutions. In 2022, the foundation awarded over 138 scholarships, totaling $138,000. However, it's worth noting that the total scholarship amount was partially offset due to the return of scholarship money, which was declined by recipients due to failing to meet the scholarship requirements.
In summary, the Credit Union Foundation of New Mexico plays a pivotal role in the educational landscape of New Mexico by providing financial aid to students through scholarships. This commitment to education not only empowers individuals but also bolsters the educational institutions within the state, contributing to a more educated and prosperous future for New Mexico.
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Impact
October, 2024
The Credit Union Foundation of New Mexico has made a significant impact by facilitating higher education opportunities for students across the state. By managing and administering funds contributed by credit unions as unclaimed funds, the foundation focuses on ensuring that these resources benefit aspiring students.
In 2022 alone, the foundation awarded over 138 scholarships, totaling $138,000, to qualifying students from New Mexico. This financial support helps alleviate the burden of educational costs, enabling students to pursue their academic goals at accredited universities, colleges, and trade schools. Through these scholarships, the foundation not only promotes access to education but also empowers the next generation with the skills and knowledge needed for their future careers.
By directing funds towards educational purposes, the foundation plays a crucial role in fostering academic achievement and contributing to the overall educational landscape of New Mexico, ultimately enriching the community and helping to build a more knowledgeable workforce.
This information is meant to be a general summary of Credit Union Foundation Of New Mexico Fka Nm Cu Education 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: $4,552
- Gross Receipts: $434,436
Assets and Liabilities:
- Total Assets: $3,261,544
- Total Liabilities: $769,618
- Net Assets: $2,491,926
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Organization Details
Founding Year
1993
Phone
(505) 298-9899Principal Officer
Rebecca Isaacs
Main Address
4200 WOLCOTT AVE NE, ALBUQUERQUE, NM, 87109
NTEE Category
Code: T99Z - Philanthropy
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