Alabama Credit Union Foundation Inc

Nonprofit profile at a glance

EIN
455638180
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Tuscaloosa, AL, USA
Phone
2054695760
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Children's, Youth Services

Official website

Reported finances

Revenue
$410,874
Expenses
$247,661
Assets
$1,048,242
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • STEVE SWOFFORD (PRESIDENT)
  • KELLEY PORTER (VICE-PRESIDENT)

People named in this filing

  • STEVE SWOFFORD (PRESIDENT)
  • KELLEY PORTER (VICE-PRESIDENT)
  • SUSAN DARIA (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Alabama credit union foundation is dedicated to strengthening the community and improving the quality of life both now and for future generations. The organization is a vehicle for private donors to make a lasting contribution to our community. The organization fulfills its mission by educating the public about the practice of philanthropy and its benefits both to donors and to the community, and serves as a catalyst and resource to effectively respond to community problems.

What it reported doing in 2024

The organization developed the "secret meals for hungry children" program through partnerships with local food banks with the objective of addressing the issue of hunger facing elementary school children. The program serves many children receiving free or reduced cost meals at school, but the program is open to any child identified by school officials as going hungry over the weekend. The secret meals program supplies identified under-nourished elementary school-aged children with a 3.5 pound food packs in their backpacks every friday throughout the school year to sustain them during the weekend feeding gaps when their school's free/reduced cost meals are not available. This is done anonymously, while the children are out of the classroom, to prevent the child from being singled out or made to feel uncomfortable. The program serves over 2,000 children across several counties in Alabama.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 88
  • Accountability: 88
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: $623.48 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.8%; rating input score 95; 55th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 39.7%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 4.23; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 99.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $247K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.