Credit Unions Care Foundation of Virginia
Nonprofit profile at a glance
- EIN
- 364651188
- IRS 990-EZ coverage
- 2021–2024
- Forms available
- Form 990-EZ 2024
- Location
- Richmond, VA, USA
- Phone
- 4342379600
- Rating
- 94
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Public Foundations
Reported finances
- Revenue
- $26,709
- Expenses
- $88,835
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- KARIMA FREEMAN (INTERIM PRESIDENT)
People named in this filing
- JEFF BENTLEY (CHAIRMAN)
- JANINE WILLIAMS (TREASURER)
- KARIMA FREEMAN (INTERIM PRESIDENT)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The corporation is organized exclusively for charitable, scientific and educational purposes within the meaning of section 501(c)(3) of the internal revenue code or the corresponding provision of any future federal tax law (the "code") , including but not limited to providing academic scholarships and micro-community grants, promoting financial literacy, providing relief to disaster victims and coordinating efforts with other credit union-supported charities, primarily in Virginia. Subject to the limitations set forth below, the corporation may conduct any or all lawful affairs, not required to be stated specifically in these articles, for which corporations may be incorporated under the Virginia nonstock corporation act.
What it reported doing in 2024
Assistance to community based & national non-profit organizations as it pertains to the needs of local communities and national disasters
Operating model
- Revenue model
- Donor-supported. 96% of the money available for current operations came from contributions and gifts.
- 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 9
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99.4%; rating input score 99
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -232.6%; rating input score 4; 4th 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: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 93.9% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 53.9% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: -4.2% per year; rating input score 0; 26th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99.4% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $88K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Sustainability: Operating margin scored 4/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.