2023-11-15T13:25:10-06:00 2022-12-31 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2022-01-01 260413862 FRANKLIN MINT FEDERAL CREDIT UNION FOUNDATION INC FRAN 4842591880 5 HILLMAN DR STE 100 304 CHADDS FORD PA 193179998 RICHARD V DURANTE JR EXECUTIVE DIRECTOR 4842591880 2023-09-13 1 RICHARD DURANTE JR XXX-XX-XXXX 0 RUTHANN J WOLL CPA P00647342 6103761595 2023-09-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL MAGNAVITA 5 HILLMAN DR STE 100 304 CHADDS FORD PA 193179998 444331 0 X WWW.FMFCUFOUNDATION.ORG X 2007 PA CHARITABLE ARM OF FRANKLIN MINT FEDERAL CU MISSION TO SUPPORT CHARITABLE CAUSES AND EDUCATION. 9 9 2 10 0 0 94933 299946 0 37463 0 0 51698 74953 146631 412362 61025 55232 0 0 8131 8125 0 0 0 11130 80239 80286 143596 66345 268766 298052 581818 0 15000 298052 566818 X THE FMFCU FOUNDATION IS THE CHARITABLE ARM OF THE FRANKLIN MINT FEDERAL CREDIT UNION WHOSE PRIMARY MISSION IS TO COLLECT AND DISTRIBUTE FUNDS THAT SUPPORT CHARITABLE CAUSES AS WELL AS THE IMPLEMENTATION OF FINANCIAL LITERACY INITIATIVES IN THE COMMUNITY. 1 1 85326 37463 THE FOUNDATION PARTNERS WITH THE DELAWARE COUNTY INTERMEDIATE UNIT IN PRESENTING THE COUNTY'S PREMIER EDUCATION RECOGNITION EVENT. THE EVENT ACKNIWLEDGES AND PROMOTES ACADEMIC ACCOMPLISHMENT IN A WAY THAT IS SIMILAR TO RECOGNIZING ATHLETIC ABILITY. THE BANQUET HONORS STUDENTS AND EDUCATORS, INCLUDING THE STUDENTS WHO PARTICIPATE IN THE DELCO HI-Q ACADEMIC QUIZ COMPETITION AND THEIR ADVISORS, RECIPIENT OF THE EXCELLENCE IN TEACHING AWARDS, SCHOLARSHIP RECIPIENTS, AND COMMUNITY NON-PROFITS. ALL HONOREES ATTEND THE EVENT AT NO COST. THE BANQUET REGULARLY DRAWS AS MANT AS 500 GUESTS. 27732 27732 TEACHER MINI GRANTS - FRANKLIN MINT FEDERAL CREDIT UNION FOUNDATION FUNDS INNOVATIVE EDUCATIONAL EXPERIENCES FOR K-12 STUDENTS THAT MAY NOT OTHERWISE BE FUNDED IN THE SCHOOL YEAR. TEACHERS MAY REQUEST FUNDS FOR CLASSROOM SUPPLIES, TECHNOLOGY, BOOKS, FUNDING FOR CLASSROOM PROJECTS OR PROGRAMS. AMOUNTS GIVEN ARE UP TO $500 PER APPLICANT. APPLICANTS MUST TEACH AT A SCHOOL LOCATED IN CHESTER, DELAWARE, MONTGOMERY, NEW CASTLE COUNTIES, WEST PHILADELPHIA, OR UNIVERSITY CITY. 27500 27500 THE EXCELLENCE IN TEACHING AWARDS AND GRANT - LOCAL TEACHERS CAN BE NOMINATED TO RECEIVE $1,000 GRANTS TOWARDS EDUCATIONAL EXPENSES AND $1,000 FOR THEIR SCHOOL. THE EXCELLENCE IN TEACHING AWARD RECOGNIZES 20 OUTSTANDING AND DEDICATED TEACHERS IN OUR AREA. RECIPIENTS OF THIS AWARD RECEIVE $1,000 TOWARDS CLASSROOM EXPENSES AND A COMMEMORATIVE KEEPSAKE. THE RECIPIENT'S SCHOOL ALSO RECEIVES A $1,000 AWARD. A TOTAL OF $40,000 WILL BE AWARDED TO SCHOOLS AND EDUCATORS! TEACHERS CAN BE NOMINATED BY STUDENTS, PARENTS, CO-WORKERS OR SUPERVISORS! NOMINEES MUST BE PENNSYLVANIA- OR DELAWARE-CERTIFIED ACTIVE TEACHERS IN GOOD STANDING THAT PROVIDE DIRECT INSTRUCTION TO STUDENTS IN A CLASSROOM SETTING. 140558 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 2 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 9 9 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 PA X MICHAEL B MAGNAVITA 4842591971 5 HILLMAN DR STE 100 CHADDS FORD PA 193179998 X DR HARRY J JAMISON PRESIDENT 1.00 X X 0 0 0 MARIA ROLSTON VICE PRESIDENT/SECRETARY 1.00 X X 0 0 0 MICHAEL B MAGNAVITA TREASURER 1.00 X X 0 0 0 DR LOIS SNYDER DIRECTOR 1.00 X 0 0 0 DR JOSEPH O'BRIEN DIRECTOR 1.00 X 0 0 0 WILLIAM TAYLOR DIRECTOR 1.00 X 0 0 0 KATE MCGEEVER DIRECTOR 1.00 X 0 0 0 SHONETTE HARRISON-CAREW DIRECTOR 1.00 X 0 0 0 DR GEORGE STEINHOFF DIRECTOR 1.00 X 0 0 0 RICHARD V DURANTE JR EXECUTIVE DIRECTOR 16.00 X 0 0 0 0 0 0 0 0 0 0 0 13770 286176 299946 DCIU MANAGEMENT INCOME 611430 30450 30450 PARTNERS IN LEARNING 611710 7013 7013 37463 106922 13770 31969 74953 74953 412362 37463 0 74953 55232 55232 8125 8125 150 150 1435 1435 1393 1393 PARTNERS IN LEARNING 66197 66197 DELCO HI-Q 11004 11004 MISCELLANEOUS OPERATING 60 60 143596 140558 3038 0 194558 526538 103494 55280 298052 581818 0 15000 0 15000 X 199508 516818 98544 50000 298052 566818 298052 581818 268766 0 X 1 X 0 0 0 X 65693 78471 30544 94933 299946 569587 65693 78471 30544 94933 299946 569587 12566 557021 471 471 25475 26184 51659 621717 352291 0.89590 0.68310 X SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: BEQUEATH DATE: 12/31/14 AMOUNT: 450894. 0 X 384909 0 384909 27453 27453 412362 116143 0 116143 27453 27453 143596 PART X, LINE 2: AS A NOT-FOR-PROFIT ORGANIZATION, THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS SUBJECT TO THE FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE FOUNDATION RECOGNIZES PENALTIES AND INTEREST ACCRUED RELATED TO INCOME TAX LIABILITIES IN THE PROVISION (BENEFIT) FOR INCOME TAXES IN ITS STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THERE WAS NO ACCRUAL FOR THE PAYMENT OF PENALTIES AND INTEREST. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION, INCLUDING WHETHER THE ENTITY IS EXEMPT FROM INCOME TAXES. MANAGEMENT EVALUATED THE TAX POSITIONS TAKEN AND CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS FUNDRAISING EXPENSES 27,453. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS FUNDRAISING EXPENSES 27,453. GOLF OUTING 120692 13770 106922 2488 25588 3893 120692 13770 106922 2488 25588 3893 31969 74953 FORM 990, PART III, LINE 2 THE EXCELLENCE IN TEACHING AWARDS AND GRANTS PROGRAM WAS ADDED. LOCAL TEACHERS CAN BE NOMINATED TO RECEIVE $1,000 GRANTS TOWARDS EDUCATIONAL EXPENSES AND $1,000 FOR THEIR SCHOOL. THE PROGRAM WILL RECOGNIZES 20 OUTSTANDING AND DEDICATED TEACHERS IN OUR AREA. RECIPIENTS OF THIS AWARD RECEIVE $1,000 TOWARDS CLASSROOM EXPENSES AND A COMMEMORATIVE KEEPSAKE. THE RECIPIENT'S SCHOOL ALSO RECEIVES A $1,000 AWARD. A TOTAL OF $40,000 WILL BE AWARDED TO SCHOOLS AND EDUCATORS! TEACHERS CAN BE NOMINATED BY STUDENTS, PARENTS, CO-WORKERS OR SUPERVISORS! NOMINEES MUST BE PENNSYLVANIA- OR DELAWARE-CERTIFIED ACTIVE TEACHERS IN GOOD STANDING THAT PROVIDE DIRECT INSTRUCTION TO STUDENTS IN A CLASSROOM SETTING. FORM 990, PART III, LINE 3 THE BERENSTAIN BEARS FINANCIAL LITERACY PROGRAM WAS DISCONTINUED. FORM 990, PART VI, SECTION A, LINE 2 DR. HARRY J. JAMISON, PRESIDENT; MICHAEL B. MAGNAVITA, TREASURER; AND RICHARD V. DURANTE JR., EXECUTIVE DIRECTOR ALL HAVE A BUSINESS RELATIONSHIP WITH FRANKLIN MINT FEDERAL CREDIT UNION. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION WILL HAVE ONE CLASS OF MEMBERS ONLY, AND THE MEMBERSHIP VOTING AND OTHER RIGHTS, INTERESTS AND PRIVILEGES OF EACH MEMBER SHALL BE EQUAL. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS SHALL ELECT A MAXIMUM OF TWO DIRECTORS, BUT NOT LESS THAN ONE DIRECTOR. FORM 990, PART VI, SECTION A, LINE 7B THE BY-LAWS MAY BE AMENDED OR APPEALED, IN WHOLE OR IN PART AND NEW BY-LAWS ADOPTED BY THE VOTE OR WRITTEN CONSENT OF A MAJORITY OF THE DIRECTORS OF THE ASSOCIATION, PROVIDED THAT ANY CHANGE TO THE VOTING RIGHTS OF THE MEMBERS SHALL ALSO REQUIRE CONSENT OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE OFFICERS AND EXECUTIVE DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PERIODIC REVIEWS, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: 1. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION AND THE RESULT OF ARM'S LENGTH BARGAINING. 2. WHETHER THE PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS CONFORM TO THE FOUNDATION'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION HAS NOT MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. STATE FINANCIAL NETWORK LLC 5 HILLMAN DRIVE SUITE 300 CHADDS FORD PA 19317 800873092 MORTGAGE ACTIVITY PA 358717 FRANKLIN MINT FEDERAL CREDIT UNION