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MCU FOUNDATION
NEW YORK, NY · EIN 884171437 · Form 990PF · FY2024 · NTEE T21 · Philanthropy & Grantmaking · Medium ($1M-$10M)
revenue
$1.1M
expenses
$10K
net assets
$3.0M
employees
—
profile · synthesized from sources

MCU Foundation is a private foundation based in New York that provides targeted grants to individuals and organizations. It supports initiatives in education, home ownership, and basic necessities, with a focus on small-scale financial assistance. The foundation also makes microgrants through its MCU MEMBERS program.

named programs · 4 · from sources

What they call their work

$5–$10 Microgrants
Small-scale financial assistance program administered through MCU MEMBERS
Basic Necessities Support
Provides $10,000 grants to support access to basic necessities, awarded to nonprofit partners like Suncoast Credit Union Foundation
Education Grants
Provides $5,000 grants to individuals for education-related expenses
Home Ownership Assistance
Provides grants of $10,000 or more to support home ownership for individuals
activities · 4 groups

What they do

  • General Operating Support Grants 1 activity
    • Awarding microgrants to MCU members
      Awards small grants ranging from $5 to $10 to members of MCU. These microgrants are designed to provide immediate, flexible support to individuals within the MCU community.
  • Local High School Scholarship Programs 1 activity
    • Funding grants for individual education expenses
      Provides grants to cover education-related costs for individuals, such as tuition, books, or training programs, to support academic and professional development.
  • Community Foundation & United Way Support 1 activity
    • Funding grants to support access to basic necessities
      Provides financial support to the Suncoast Credit Union Foundation to expand access to basic necessities for underserved populations.
  • Interest-Free Loan and Grant Support 1 activity
    • Funding grants to support home ownership
      Provides financial grants aimed at helping individuals achieve home ownership, likely targeting low- to moderate-income applicants or those facing barriers to homeownership.
financials · form 990PF · fy2024
revenue
Total revenue$1.12M
Contributions & grants$1.05M93%
Program service revenue——
Investment income$76K7%
Other revenue$0
expenses
Total expenses$10K
Program expenses—
Admin / overhead—
Fundraising—
Salaries & benefits—
Grants paid out$155K
balance sheet
Total assets$3.02M
Cash—
Investments—
Liabilities—
Net assets$3.02M
3 years on record · 2022–2024 · YoY revenue -46.1%
leadership · form 990 part vii · fy2024

Who runs it

board members · 9
  • ANDREW WELTMAN — SECRETARY & DIRECTOR
  • CANIA INFANTE — DIRECTOR
  • FRANK MADEIRA — TREASURER & DIRECTOR
  • GEORGE CHACON — PRESIDENT & DIRECTOR
  • JIM MILL — DIRECTOR (AS OF 08/2024)
  • JUAN LUNA — DIRECTOR
  • KELLY GERBER — DIRECTOR (AS OF 03/2024)
  • MICHAEL SAVINO — DIRECTOR
  • TONI-ANN SFORZA — DIRECTOR
relationships · 1

Who they work with

  • Suncoast Credit Union Foundation Partner — Receives grant funding from MCU FOUNDATION to support basic necessities.