2025-08-13T14:45:35-05:00 2023-12-31 582487348 Aprio Advisory Group LLC 111 Rockville Pike Suite 600 Rockville MD 20850 990 2023-01-01 542062271 The Pentagon Federal Credit Union Foundation PENT 7038381200 2930 Eisenhower Avenue Alexandria VA 22314 Andrea McCarren President 7038381200 2025-08-12 1 0 Stacy Cullen P00974308 3012316200 2025-08-12 2023 2025-03-06 01:10:19Z X PenFed Foundation Andrea McCarren 2930 Eisenhower Avenue Alexandria VA 22314 4103087 0 X www.PenFedFoundation.org X 2001 VA To champion our military through investment, advocacy, and outreach. 8 8 0 60 0 0 5958332 3788577 0 0 24624 107106 1840245 -607060 7823201 3288623 2460937 1397810 0 0 0 0 0 0 122971 1835938 1221074 4296875 2618884 3526326 669739 8671732 8534940 196606 736001 8475126 7798939 X The mission of the PenFed Foundation is to champion our military through investment, advocacy, and outreach. 0 0 1515420 1243567 Military Heroes Program:The Military Heroes Program supports the military community in three ways: 1. Funding for projects that have a significant positive impact on a specific military community or more broadly across the entire military family. 2. Support to individuals experiencing a life changing emergency. 3. Support to our allies through the Afghan Rescue and Resettlement Program, which resettled Afghan refugees in the United States after the fall of Kabul. 421256 34242 Veteran Entrepreneur Investment Program (VEIP):VEIP provides veteran and military spouse entrepreneurs with education, mentorship, and connection to capital to build and grow their businesses. 231197 120000 Other Programs 79723 Outreach 79723 2247596 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 52 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 AL AK AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC ND OR PA RI SC TN UT VA WV WI X X One Degree Financial 7035796868 204 Washington Street Box 608a Occoquan VA 22125 X Deborah Lee James Chairwoman 2.00 0.00 X X 0 0 0 Fred B Caprio Vice Chair 1.50 0.00 X X 0 0 0 Sandra Patricola Secretary/Treasurer 1.00 6.00 X X 0 0 0 Edward B Cody Director 1.00 28.00 X 0 0 0 Jim Dinegar Director 1.00 0.00 X 0 0 0 James Quinn Director 1.00 5.00 X 0 0 0 Alfred Rudolph Director 1.00 4.00 X 0 0 0 David Barondess Director 1.00 0.00 X 0 0 0 David Clark VP Foundation Operations (Until 7/23) 37.50 0.00 X 0 205071 4813 Scott Davis Dir, Vet Entrepreneurship (until 12/23) 37.50 0.00 X 0 180584 5765 Katherine Watson Director of Philanthropy 37.50 0.00 X 0 113510 4131 0 499165 14709 0 0 1 0 One Degree Financial 204 Washington Street Box 608 Occoquan VA 22125 Accounting 177902 Fran Beaudette 4586 Cape Island Drive Awendaw SC 29429 Consulting 120000 2 2217004 1571573 3788577 107106 107106 207404 2217004 814464 -607060 -607060 3288623 0 0 -499954 X 515496 515496 882314 882314 19841 7341 12500 165902 123480 42422 299173 222672 76501 75650 42787 23701 9162 133534 47264 82754 3516 66398 52134 5139 9125 189049 177308 3181 8560 124549 43367 1897 79285 Sponsorship 121500 121500 Memberships and Subscri 4190 3875 315 Bad Debt 323 323 Personal Property Taxes 151 151 20814 8058 -244 13000 2618884 2247596 248317 122971 5077612 6631987 580416 581287 1278663 723609 10064 90620 137322 1644421 450671 8671732 8534940 196606 736001 196606 736001 X 6718639 6181225 1756487 1617714 8475126 7798939 8671732 8534940 669739 -1345926 0 X 0 1 X 0 0 X 2773922 4525135 3461356 5958332 3788577 20507322 2773922 4525135 3461356 5958332 3788577 20507322 696022 1028775 1437259 72850 3234906 0 696022 1028775 1437259 72850 3234906 17272416 7420 25921 36003 24624 71805 165773 7420 25921 36003 24624 71805 165773 2781342 4551056 3497359 5982956 3860382 20673095 0.83550 0.74960 0.00800 0.00470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 450671 F 450671 X 5310400 1207313 814464 2021777 3288623 0 3288623 4640661 1207313 814464 2021777 2618884 0 2618884 Part X, Line 2: The Foundation follows the accounting guidance that creates a single model to address uncertainty in tax positions and clarifies the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in its consolidated financial statements. Under the requirements of this guidance, organizations could now be required to record an obligation as the result of tax positions they have historically taken on various tax exposure items. The Foundation is not required to record such an obligation. The Foundation is no longer subject to income tax examination by federal, state or local tax authorities for tax years before 2019. Part XI, Line 2d - Other Adjustments: Special Event Expenses 814,464. Part XII, Line 2d - Other Adjustments: Special Event Expenses 814,464. X X X X 1 Fran Beaudette 4586 Cape Island Drive Awendaw SC 29429 Fundraising Consultant 0 0 120000 -120000 120000 -120000 NOLA Gala 1156286 1107351 48935 23395 37616 88254 22000 201072 DC Golf 871094 759017 112077 160160 63602 145080 3 397028 350636 46392 21383 13534 11474 300 26594 2424408 2217004 207404 44778 211310 163330 22300 372746 814464 -607060 1 Strong Compass Inc 1021 86th Avenue West Duluth MN 55808 872124302 501(c)(3) 10000 0 Grant to John Moder of Strong Compass for Saddle Up project Gold Star Mothers Maryland Chapter Inc PO Box 936 Laurel MD 20725 274380757 501(c)(3) 10000 0 Scholarship Grant for Gold Star Mothers of Maryland in honor of PFC Justin Davis and CPT Jesse Melton III Adaptive Sports Foundation PO Box 266 100 Silverman Way Windham NY 12496 141823155 501(c)(3) 15000 0 Grant issued for Warriors in Motion Project PTSD Foundation of America 9724 Derrington Road Houston TX 77064 203864341 501(c)(3) 50000 0 Grant to support Camp Hope Trauma Recovery Texas Family Life 3130 FM 1113 Copperas Cove TX 76522 920722912 501(c)(3) 50000 0 Grant to support The ETS Sponsorship Food Insecurity Program Coast Guard Foundation Inc 394 Taugwonk Road Stonington CT 06378 042899862 501(c)(3) 50000 0 Grant to support program Mental Resiliency Military Spouse Advocacy Network PO Box 769908 San Antonio TX 78245 472265233 501(c)(3) 50000 0 Grant to Military Spouse Leadership Development Program The Mission Continues 1141 South 7th Street St Louis MO 63104 208742553 501(c)(3) 60000 0 Grant to The Mission Continues to support Service Leadership Corps Arcadia Food Inc 9000 Richmond Highway Alexandria VA 22309 273611614 501(c)(3) 50000 0 Grant to support Arcadia Veteran Farmer Program Scott's Wish Inc 742 Millikens Bend Covington LA 70433 263566004 501(c)(3) 120000 0 Donation for Leaders & Legends PenFed Realty 2930 Eisenhower Avenue 4th Floor Alexandria VA 22314 10000 0 Emergency Relief Grant for Clarksville, TN Community Defenders Lodge 3801 Miranda Avenue Bldg 9 Palo Alto CA 94304 5227 0 US Bank - Visa Gift Cards for Defenders Lodge 8 2 Grants Given for VEP - Prep - Master's Program 15 29202 VEP attendee for travel and lodging Storyboard Films 1 5040 Prize production of promotional video for Jul '22 Ignition Challenge winner. Mississippi River Flavor Company Grants to FTPs 36 84071 Grants to FTPs for rents, medical and education Part I, Line 2: Grant requests must be submitted through our online grant portal, where we track applications through the approval process. Grant recipients sign a grant agreement, which lays out the terms of the grant. We also request follow up information on how the money was spent and the overall success of the project or grant. 0 0 0 0 0 0 0 0 0 David Clark VP Foundation Operations (Until 7/23 0 197065 0 5423 0 2583 0 4813 0 0 0 209884 0 0 Scott Davis Dir, Vet Entrepreneurship (until 12/ 0 170683 0 7676 0 2225 0 5765 0 0 0 186349 0 0 Form 990, Box B - Amended Return: The Pentagon Federal Credit Union Foundation is amending its previously filed 2023 return to account for audited financial statements that were issued after the final due date of the Form 990. Form 990, Part VIII, Line 3, Column (A) - Investment income As Amended: $107,106 As Originally Filed: $71,805 Change: $35,301 Form 990, Part VIII, Line 3, Column (D) - Investment income As Amended: $107,106 As Originally Filed: $71,805 Change: $35,301 Form 990, Part VIII, Line 12, Column (A) - Total Revenue As Amended: $3,288,623 As Originally Filed: $3,253,322 Change: $35,301 Form 990, Part VIII, Line 12, Column (D) - Total Revenue As Amended: -$499,954 As Originally Filed: -$535,255 Change: $35,301 Form 990, Part X, Line 1, Column (B) - Cash - non-interest-bearing As Amended: $6,631,987 As Originally Filed: $7,013,732 Change: -$381,745 Form 990, Part X, Line 13, Column (B) - Investments - other securities As Amended: $450,671 As Originally Filed: $5,750,483 Change: -$5,299,812 Form 990, Part X, Line 16, Column (B) - Total assets As Amended: $8,534,940 As Originally Filed: $14,216,497 Change: -$5,681,557 Form 990, Part X, Line 27, Column (B) - Net assets without donor restrictions As Amended: $6,181,225 As Originally Filed: $11,863,105 Change: -$5,681,880 Form 990, Part X, Line 28, Column (B) - Net assets with donor restrictions As Amended: $1,617,714 As Originally Filed: $1,617,391 Change: $323 Form 990, Part X, Line 32, Column (B) - Total net assets or fund balances As Amended: $7,798,939 As Originally Filed: $13,480,496 Change: -$5681,557 Form 990, Part X, Line 33, Column (B) - Total net assets or fund balances As Amended: $8,534,940 As Originally Filed: $14,216,497 Change: -$5,681,557 Form 990, Part XI, Line 1 - Total revenue As Amended: $3,288,623 As Originally Filed: $3,253,322 Change: $35,301 Form 990, Part XI, Line 3 - Revenue less expenses As Amended: $669,739 As Originally Filed: $634,438 Change: $35,301 Form 990, Part XI, Line 5 - Net unrealized gains (losses) on investments As Amended: $0 As Originally Filed: -$947,566 Change: -$947,566 Form 990, Part XI, Line 8 - Prior Period Adjustments As Amended: -$1,345,926 As Originally Filed: $5,318,498 Change: -$6,664,424 Form 990, Part XI, Line 10 - Net assets or fund balances at end of year As Amended: $7,798,939 As Originally Filed: $13,480,496 Change: -$5,681,557 Form 990, Schedule D, Part XI, Line 1 - Total revenue, gains, and other support per audited financial statements As Amended: $5,310,400 As Originally Filed: $4,327,533 Change: $982,867 Form 990, Schedule D, Part XI, Line 2a - Total revenue, gains, and other support per audited financial statements As Amended: $0 As Originally Filed: -$947,566 Change: -$947,566 Form 990, Schedule D, Part XI, Line 2e - Add lines 2a through 2d As Amended: $2,021,777 As Originally Filed: $1,074,211 Change: -$947,566 Form 990, Schedule D, Part XI, Line 3 - Subtract line 2e from line 1 As Amended: $3,288,623 As Originally Filed: $3,253,322 Change: $35,301 Form 990, Schedule D, Part XI, Line 5 - Total revenue As Amended: $3,288,623 As Originally Filed: $3,253,322 Change: $35,301 Form 990, Part VI, Section B, line 11b Regarding the filing of Form 990, the Foundation's board presently relies on the expertise of the financial staff at the Pentagon Federal Credit Union (PenFed) who are experts in these areas along with outside financial and tax expertise. The board has requested that outside tax experts prepare and file this Form 990. The board is updated on the financials of the Foundation on a regular basis and provided copies of the financial statements, as well as a copy of the Form 990 upon request. Form 990, Part VI, Section B, line 12c Regarding policies for conflict of interest, whistleblower policy, document retention and destruction policy, the Foundation has adopted the policies of the Pentagon Federal Credit Union (PenFed). PenFed donates all employee services to the Foundation. The Foundation relies on the expertise in these areas of the staff of PenFed, of which PenFed staff are experts and knowledgeable of the established policies and procedures within PenFed for these areas and the remedies therein. The Foundation is providing for the resources to adopt and manage its own separate policies through board direction and approval in these important areas of governance of the Foundation. Form 990, Part VI, Section C, line 19 Financial statements are available on the organization's website and to the public upon request. Form 990, Part IX, line 11g Consulting Services: Program service expenses 222,672. Management and general expenses 76,501. Fundraising expenses 0. Total expenses 299,173. Pentagon Federal Credit Union 7940 Jones Branch Drive McLean VA 22102 530197038 Credit Union VA 501(c)(1) N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0