2023-11-14T08:21:33-06:00 2022-12-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2022-01-01 815171277 NAVIGANT CREDIT UNION CHARITABLE FOUNDATION INC NAVI 4012334303 1005 DOUGLAS PIKE SMITHFIELD RI 02917 LISA DANDENEAU TREASURER 4012234304 2023-11-13 1 LISA DANDENEAU 000004187 1 HARRY A KALAJIAN JR CPA P00464296 6174399700 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LISA DANDENEAU 1005 DOUGLAS PIKE SMITHFIELD RI 02917 682704 0 X N/A X 2017 RI TO GIVE BACK TO THE COMMUNITY BY SUPPORTING, PROMOTING, AND FURTHERING CHARITABLE, EDUCATIONAL, SOCIAL SERVICE, CULTURAL, PUBLIC HEALTH, AND CIVIC ORGANIZATIONS, ACTIVITIES, AND CAUSES, PRIMARILY (BUT NOT EXCLUSIVELY) AFFECTING COMMUNITIES IN WHICH NAVIGANT CREDIT UNION HAS BRANCH OFFICES OR MEMBERS. 6 6 0 6 0 0 2506195 427337 0 0 304542 255367 0 0 2810737 682704 0 407000 0 0 0 0 0 0 0 64373 81481 64373 488481 2746364 194223 10138881 9063635 0 0 10138881 9063635 X TO GIVE BACK TO THE COMMUNITY BY SUPPORTING, PROMOTING, AND FURTHERING CHARITABLE, EDUCATIONAL, SOCIAL SERVICE, CULTURAL, PUBLIC HEALTH, AND CIVIC ORGANIZATIONS, ACTIVITIES, AND CAUSES, PRIMARILY (BUT NOT EXCLUSIVELY) AFFECTING COMMUNITIES IN WHICH NAVIGANT CREDIT UNION HAS BRANCH OFFICES OR MEMBERS. 0 0 407000 407000 TO PROVIDE CHARITABLE, EDUCATIONAL, AND CIVIC SERVICES TO MEMBERS OF THE COMMUNITY SERVED BY NAVIGANT CREDIT UNION, PRIMARILY IN RHODE ISLAND AND SOUTHERN MASSACHUSETTS. 407000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 X KATHLEEN OROVITZ 4012334301 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 X GARY E FURTADO DIRECTOR 1.00 X 0 0 0 LISA G DANDENEAU TREASURER/DIRECTOR 1.00 X X 0 0 0 TIMOTHY J DRAPER SECRETARY/DIRECTOR 1.00 X X 0 0 0 ANN M KASHMANIAN DIRECTOR 1.00 X 0 0 0 JAMES K SALOME DIRECTOR 1.00 X 0 0 0 KATHLEEN C OROVITZ PRESIDENT/CHAIRMAN 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 427337 427337 188941 188941 66426 0 66426 66426 66426 682704 0 0 255367 407000 407000 81447 81447 34 34 488481 407000 81481 0 2713029 512570 2000 7425852 8549065 10138881 9063635 0 0 X 0 0 0 0 10138881 9063635 10138881 9063635 10138881 9063635 X 194223 -1269833 364 X X 0 1 X 1 0 X 1500000 1701247 1508679 2506195 427337 7643458 1500000 1701247 1508679 2506195 427337 7643458 7460122 183336 35878 77976 123855 173795 188941 600445 8243903 0.02220 X SCHEDULE A. PART II, SECTION C, LINE 18: THE FOUNDATION DOESN'T MEET THE PUBLIC SUPPORT TEST TO BE A PUBLIC CHARITY. IT WILL BE A PRIVATE FOUNDATION AS OF 1/1/2023. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X -668246 -1269833 -81117 -1350950 682704 0 682704 407000 0 407000 81481 81481 488481 PART X, LINE 2: THE FOUNDATION IS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, EXEMPT FROM FEDERAL AND STATE INCOME TAX. THE FOUNDATION EVALUATES TAX POSITIONS TAKEN, INCLUDING THE POSITION THAT THE FOUNDATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION, AND EVALUATES WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2022 AND 2021 THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO AUDIT FOR ALL YEARS AFTER DECEMBER 31, 2019. THE FOUNDATION'S POLICY IS TO RECOGNIZE ANY INTEREST AND PENALTIES RELATED TO TAX MATTERS AS AN EXPENSE WHEN PAID. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES -81,447. MERCHANT SERVICE FEES -34. RETURN OF CAPITAL 364. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 81,447. MERCHANT SERVICE FEES 34. 1 WOMAN & INFANTS HOSPITAL 4 RICHMOND SQUARE 4TH FLOOR PROVIDENCE RI 029065117 050258937 501(C)(3) 100000 0 LABOR AND DELIVERY ROOM RENOVATION CAMPAIGN MUSEUM OF WORK & CULTURE 110 BENEVOLENT ST PROVIDENCE RI 029063152 050259110 501(C)(3) 25000 0 HISTORY OF THE EXHIBIT STADIUM THEATRE SOUND SYSTEM 28 MONUMENT SQ WOONSOCKET RI 028953023 050486986 501(C)(3) 75000 0 MONITOR REPLACEMENT REVIVE THE ROOTS 10 OLD FORGE RD SMITHFIELD RI 029171007 275380804 501(C)(3) 10000 0 REVIVE THE ROOTS CONTINUED PRESERVATION OF MOWRY COMMONS FAMILY SERVICE OF RHODE ISLAND 134 THURBERS AVE PROVIDENCE RI 029054754 050258858 501(C)(3) 12000 0 PROTECTING STUDENT LEARNING AT MOUNT PLEASANT ACADEMY MOUNT SAINT CHARLES ACADEMY 800 LOGEE STREET WOONSOCKET RI 02895 050258850 501(C)(3) 25000 0 THE LEARNING COMMONS AT MOUNT SAINT CHARLES ACADEMY PAWTUCKET CENTRAL FALLS DEVELOPMENT 204 BROAD ST BOX 6 PAWTUCKET RI 028602089 223241611 501(C)(3) 10000 0 PAWTUCKET CENTRAL FALLS HOMEOWNERSHIP PROGRAM OPERATIONS SUPPORT SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT 100 KENYON AVE WAKEFIELD RI 028794299 050259093 501(C)(3) 25000 0 SOUTH COUNTY HEALTH TRUST AND TRANSFORMATION NORTHERN RHODE ISLAND FOOD PANTRY INC 1 ANGELL RD CUMBERLAND RI 02864 455042619 501(C)(3) 25000 0 SECOND DISTRIBUTION CITY OF CENTRAL FALLS 580 BROAD ST CENTRAL FALLS RI 02863 100000 0 EL CENTRO COMMUNITY CNETER 9 1 PART I, LINE 2: GRANTEES ARE REQUIRED TO EXECUTE A GRANT AGREEMENT THAT REQUIRES THAT THE GRANTS BE USED FOR THEIR INTENDED PURPOSE. GRANT AGREEMENT ALSO REQUIRES THAT GRANTEES SUBMIT A USE OF FUNDS REPORT NO LATER THAN ONE YEAR FROM THE DATE OF THE DISTRIBUTION OF THE GRANT. FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION AMENDED ITS BY-LAWS IN NOVEMBER TO PREPARE FOR CHANGE TO PRIVATE FOUNDATION IN 2023. ARTICLE II PURPOSES, POWERS AND NONPROFIT STATUS SECTION 2.3. NONPROFIT STATUS. IF AND SO LONG AS THE CORPORATION IS A PRIVATE FOUNDATION (AS THAT TERM IS DEFINED IN SECTION 509 OF THE CODE), THEN NOTWITHSTANDING ANY OTHER PROVISIONS OF THESE ARTICLES OF ORGANIZATION OR THE BY-LAWS OF THE CORPORATION, THE FOLLOWING PROVISIONS SHALL APPLY: (A) THE INCOME OF THE CORPORATION FOR EACH TAXABLE YEAR SHALL BE DISTRIBUTED AT SUCH TIME AND IN SUCH MANNER AS NOT TO SUBJECT THE CORPORATION TO THE TAX ON UNDISTRIBUTED INCOME IMPOSED BY SECTION 4942 OF THE CODE; AND (B) THE CORPORATION SHALL NOT ENGAGE IN ANY ACT OF SELF-DEALING (AS DEFINED IN SECTION 4941(D) OF THE CODE), NOR RETAIN ANY EXCESS BUSINESS HOLDINGS (AS DEFINED IN SECTION 4943(C) OF THE CODE), NOR MAKE ANY INVESTMENTS IN SUCH MANNER AS TO SUBJECT THE CORPORATION TO TAX UNDER SECTION 4944 OF THE CODE, NOR MAKE ANY TAXABLE EXPENDITURES (AS DEFINED IN SECTION 4945(D) OF THE CODE). ARTICLE III MEMBERSHIP NAVIGANT CREDIT UNION SHALL BE THE SOLE MEMBER OF THE NAVIGANT CREDIT UNION CHARITABLE FOUNDATION, INC. (THE "SOLE MEMBER"). ARTICLE IV BOARD OF DIRECTORS SECTION 4.2. NUMBER, TENURE, APPOINTMENT, AND QUALIFICATIONS. B. THE CHIEF OPERATING OFFICER OR CHIEF ADMINISTRATIVE OFFICER OR OFFICER OF SUBSTANTIALLY SIMILAR DUTIES OF NAVIGANT CREDIT UNION, EX OFFICIO. SECTION 4.7. REMOVAL. A DIRECTOR MAY BE REMOVED FROM OFFICE WITH OR WITHOUT CAUSE BY A VOTE OF A MAJORITY OF THE DIRECTORS THEN IN OFFICE AT ANY REGULAR OR SPECIAL MEETING CALLED FOR THAT PURPOSE, SUBJECT TO SECTION 4.11(B), AND SUBJECT TO THE APPROVAL OF THE SOLE MEMBER. SECTION 4.8. VACANCIES. ANY VACANCY IN THE NUMBER OF ELECTED DIRECTORS, HOWEVER OCCURRING, INCLUDING A VACANCY RESULTING FROM THE ENLARGEMENT OF THE BOARD OF DIRECTORS, SHALL BE FILLED BY THE BOARD OF DIRECTORS, WITH THE APPROVAL OF THE SOLE MEMBER. SECTION 4.11. MANNER OF ACTING. B. 1. ANY RESOLUTION, AMENDMENT OF THESE BYLAWS, OR AMENDMENT OF THE ARTICLES OF INCORPORATION PERTAINING TO THE FOLLOWING REQUIRE APPROVAL BY THE SOLE MEMBER: (1) MODIFYING OR ELIMINATING PROVISIONS RELATING TO EX OFFICIO DIRECTORS ; (2) REMOVAL OF ANY EX OFFICIO DIRECTOR; (3) INCREASING THE NUMBER OF DIRECTORS; OR (4) THIS PROVISION. 2. THE FOLLOWING ACTS REQUIRE APPROVAL BY NOT LESS THAN EIGHTY PERCENT (80%) OF THE TOTAL NUMBER OF ALL DIRECTORS THEN IN OFFICE, AND THE SOLE MEMBER: (1) MODIFICATION OF THE CORPORATION'S EXEMPT PURPOSES; (2) INCURRENCE OF DEBT (NOT INCLUDING TRADE RECEIVABLES OR SIMILAR OBLIGATIONS) ABOVE A THRESHOLD SET BY THE DIRECTORS FROM TIME TO TIME; (3) MERGER, CONSOLIDATION, REORGANIZATION, LIQUIDATION, DISSOLUTION, OR ANY SALE, LEASE, EXCHANGE, OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; (4) AMENDING, ALTERING OR REPEALING THESE BYLAWS; OR (5) AMENDING OR RESTATING THE ARTICLES OF INCORPORATION. ARTICLE V OFFICERS SECTION 5.1. OFFICERS. THE OFFICERS SHALL BE A CHAIR OF THE BOARD, A PRESIDENT, ONE OR MORE VICE PRESIDENTS (IF SO DETERMINED BY THE BOARD OF DIRECTORS), A SECRETARY, A TREASURER, AND SUCH OTHER OFFICERS AS THE BOARD OF DIRECTORS MAY DETERMINE. ANY TWO OR MORE OFFICES MAY BE HELD BY THE SAME PERSON, EXCEPT THE OFFICES OF SECRETARY AND PRESIDENT. SECTION 5.2. ELECTION. THE CHAIR OF THE BOARD, PRESIDENT, TREASURER, VICE PRESIDENTS, AND SECRETARY SHALL BE ELECTED ANNUALLY BY THE BOARD OF DIRECTORS AT THE ANNUAL MEETING OF THE CORPORATION. OTHER OFFICERS MAY BE CHOSE BY THE BOARD OF DIRECTORS AT SUCH MEETING OR AT ANY OTHER MEETING. SECTION 5.3. SCOPE OF OFFICES. THE DUTIES AND RESPONSIBILITIES OF EACH OFFICER IS DESCRIBED BELOW; PROVIDED, HOWEVER, THAT THE BOARD OF DIRECTORS, MAY, BY RESOLUTION NOT INCONSISTENT WITH THESE BYLAWS, ADD TO AND DEFINE THE DUTIES OF ANY OFFICER. A. CHAIR OF THE BOARD. THE CHAIR OF THE BOARD SHALL PRESIDE WHEN PRESENT AT ALL MEETINGS OF THE BOARD OF DIRECTORS AND HE OR SHE SHALL BE AN EX OFFICIO MEMBER OF ALL COMMITTEES. THE CHAIR OF THE BOARD SHALL HAVE SUCH OTHER POWERS AND PERFORM SUCH OTHER DUTIES AS THE DIRECTORS MAY FROM TIME TO TIME DESIGNATE. B. PRESIDENT. THE PRESIDENT SHALL BE THE PRINCIPAL EXECUTIVE OFFICER OF THE CORPORATION AND, SUBJECT TO THE DIRECTION AND UNDER THE SUPERVISION OF THE BOARD OF DIRECTORS, SHALL HAVE GENERAL CHARGE OF THE BUSINESS, AFFAIRS AND PROPERTY OF THE CORPORATION, AND CONTROL OVER ITS OFFICERS, AGENTS AND EMPLOYEES. IN THE ABSENCE OR DISABILITY OF THE CHAIR, THE PRESIDENT SHALL PERFORM THE DUTIES OF THE CHAIR. THE PRESIDENT SHALL EXECUTE, ON BEHALF OF THE CORPORATION, ANY DEEDS, MORTGAGES, BONDS, CONTRACTS OR OTHER INSTRUMENTS WHICH THE BOARD OF DIRECTORS HAVE AUTHORIZED TO BE EXECUTED, EXCEPT IN CASES WHERE THE SIGNING AND EXECUTION THEREOF SHALL BE EXPRESSLY DELEGATED BY THE BOARD OF DIRECTORS OR BY THESE BYLAWS TO SOME OTHER OFFICER OR AGENT OF THE CORPORATION, OR SHALL BE REQUIRED BY LAW TO BE OTHERWISE SIGNED OR EXECUTED. THE PRESIDENT SHALL DO AND PERFORM ALL DUTIES INCIDENT TO THE OFFICE OF PRESIDENT AND SUCH OTHER DUTIES AS MAY BE ASSIGNED TO THE PRESIDENT BY THESE BYLAWS OR BY THE BOARD OF DIRECTORS. NOTHING IN THESE BYLAWS SHALL BE CONSTRUED TO PREVENT AN INDIVIDUAL FROM SERVING BOTH AS CHAIR OF THE BOARD AND PRESIDENT OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE EXTERNAL AUDIT FIRM, WOLF & COMPANY. THE FORM IS COMPLETED BASED UPON DETAIL INFORMATION PROVIDED BY THE FOUNDATION. DETAIL REVIEWS OF FORM 990 IS COMPLETED BY THE FOUNDATION TREASURER TO INSURE THAT ALL INFORMATION PROVIDED IS ACCURATE. THE FORM 990 HAS BEEN REVIEWED IN DETAIL PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS ADOPTED A CONFLICT OF INTEREST POLICY AND ETHICS AS PART OF ITS BYLAWS. THE BOARD OF DIRECTORS REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 BYLAWS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINES 13 AND 14: NAVIGANT CREDIT UNION CHARITABLE FOUNDATION (FOUNDATION) DOESN'T HAVE ITS OWN WRITTEN WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES IN PLACE. THE FOUNDATION FOLLOWS THE NAVIGANT CREDIT UNION'S WRITTEN WHISTLEBLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. FORM 990, PART XI, LINE 9: RETURN OF CAPITAL 364. FORM 990, PART XII, LINE 1 - ACCOUNTING METHOD USED TO PREPARE FORM 990 NAVIGANT CREDIT UNION CHARITABLE FOUNDATION USES ACCRUAL BASIS TO PREPARE FORM 990. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR 2022. NAVIGANT CREDIT UNION 1005 DOUGLAS PIKE SMITHFIELD RI 029171206 050125860 BANKING RI 501(C)(14) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NAVIGANT CREDIT UNION C 425000 FMV