Apple Federal Credit Union Foundation

Nonprofit profile at a glance

EIN
205308299
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
Springfield, VA, USA
Phone
5713211800
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Credit Unions

Official website

Reported finances

Revenue
$9,438
Expenses
$830,875
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • CALANTHIA TUCKER (PRESIDENT)
  • STEVE SENGSTACK (EXECUTIVE DIRECTOR)
  • ROBERT SOWELL (VICE PRESIDENT, SECRETARY)

Highest reported compensation

  • ERIN VERGARA (DIRECTOR): $88,155 total reported compensation
  • STEVE SENGSTACK (EXECUTIVE DIRECTOR): $60,000 total reported compensation
  • CALANTHIA TUCKER (PRESIDENT): $53,482 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Apple federal credit union education foundation is a charitable giving institution that makes a focused commitment to serving the educational community.

What it reported doing in 2020

Grants are given throughout apple federal credit union's northern Virginia service area to deserving organization that help to support the area's students, teacher, and community. During the year, we supported training for over 3,000 new teachers through our teacher induction grant program. ; managed funds for several private scholarships at no cost; provided grants to other 501(c)(3) organizations.

Operating model

Revenue model
Affiliate-supported. 85% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 67
  • Sustainability: 4
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.6%; rating input score 92
  • Fundraising efficiency: $3.1 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 44.4%; rating input score 44; 18th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: Pass

Sustainability

  • Operating margin: -8,703.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.5%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -3.6% per year; rating input score 0; 54th percentile among comparable filings
  • Revenue growth: -6.8% per year; rating input score 0; 44th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.6% of spending went to programs
  • Governance: 4 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $761K in reported program spending
  • Leadership: top reported pay $88K · 10 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2009 to 2020
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 17 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.

  • Moderate — Accountability: Independent voting board scored 44/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.