FIRSTMARK CREDIT UNION FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

GREGG THORNE

Phone

2104420102

Tax Period

2023-01-01 to 2023-12-31

FIRSTMARK CREDIT UNION FOUNDATION, founded in 2019, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $221K in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $191K left a modest 14% surplus.

Mission

THE FOUNDATION'S MISSION IS TO FURTHER EDUCATION, TEACHER TRAINING AND DEVELOPMENT, HEALTH AND WELLNESS, FAMILY HEALTH AND STABILITY, YOUTH DEVELOPMENT, AND COMMUNITY SUSTAINABILITY.

Program Service Accomplishments

Program 1

Expenses: $190,980

TO OPERATE PROGRAMS RELATED TO IMPROVING ACADEMIC OUTCOMES, PARTICULARLY ACADEMIC OUTCOMES OF CHILDREN IN LOW-INCOME FAMILIES RESIDING IN THE COMMUNITIES SERVED BY FIRSTMARK CREDIT UNION. GIVEN THAT POOR ACADEMIC PERFORMANCE IS CLOSELY CORRELATED WITH POOR HEALTH AND NUTRITION, HOUSING INSECURITY, AND UNSAFE NEIGHBORHOODS, THE FOUNDATION MAY ENGAGE IN THE DIRECT OPERATION OF PROGRAMS DESIGNED TO COMBAT THESE RISK FACTORS, SUCH AS HEALTH AND WELLNESS PROGRAMS, AND COMMUNITY IMPROVEMENT PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $221,001

Program Service Revenue $0

Investment Income $367

Other Revenue $0

TOTAL REVENUE $221,368

Expense Breakdown

Grants Paid $140,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $190,980

Other Expenses $50,980

TOTAL EXPENSES $190,980

Year-over-Year Comparison

	2023	2022	Change
Revenue	$221,368	$287,489	-0.2%
Expenses	$190,980	$104,886	+0.8%
Net Income	$30,388	$182,603	-0.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE AKERS	DIR./SECRETA	5.00	Director	$0	$0	$0
MIKE GRUNDON	DIR./VICE CH	5.00	Director	$0	$0	$0
MARISA PEREZ-DIAZ	EXECUTIVE DI	5.00	Director	$0	$0	$0
NATHANAEL TARWASOKONO	DIR. CHAIRMA	5.00	Director	$0	$0	$0
VERONICA TERAN	DIR./TREASUR	5.00	Director	$0	$0	$0
GREGG THORNE	DIRECTOR	5.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$221,368	$190,980	$225,721	$30,388
2022	$287,489	$104,886	$195,333	$182,603