Civic Intelligence

Firstmark Credit Union Foundation

990 • Fiscal year 2023 • EIN 84-2953607

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 06, 2024

2023 Gold Canyon DriveSan Antonio, TX 78232-1703

(210) 442-0102

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

67th percentile

14%

Higher net margin than 67% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

69th percentile

16%

Faster asset growth than 69% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

23rd percentile

-23%

Faster revenue growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$225,721

Up $30,388 (+16%) from 2022

Net Assets

Up

$225,721

Up $30,388 (+16%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Down

$221,368

Down $66,121 (-23%) from 2022

Expenses

Up

$190,980

Up $86,094 (+82%) from 2022

Net Income

Down

$30,388

Down $152,215 (-83%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $12,730Liabilities 2021: $0Net Assets 2021: $12,7302021Assets 2022: $195,333Liabilities 2022: $0Net Assets 2022: $195,3332022Assets 2023: $225,721Liabilities 2023: $0Net Assets 2023: $225,7212023Assets 2024: $297,721Liabilities 2024: $0Net Assets 2024: $297,7212024

Highlighted filing

2023

Assets$225,721
Liabilities$0
Net Assets$225,721

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0Revenue 2019: $4,219Expenses 2019: $4,219Net Income 2019: $02019Revenue 2020: $42,658Expenses 2020: $42,658Net Income 2020: $02020Revenue 2021: $26,252Expenses 2021: $13,522Net Income 2021: $12,7302021Revenue 2022: $287,489Expenses 2022: $104,886Net Income 2022: $182,6032022Revenue 2023: $221,368Expenses 2023: $190,980Net Income 2023: $30,3882023Revenue 2024: $249,633Expenses 2024: $177,633Net Income 2024: $72,0002024

Highlighted filing

2023

Revenue$221,368
Expenses$190,980
Net Income$30,388
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.0
Gross Receipts
$221,368
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$195,333$225,721▲ $30,388
Total Assets$195,333$225,721▲ $30,388
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$195,333$225,721▲ $30,388
Total Net Assets Fund Balance$195,333$225,721▲ $30,388
Total Liabilities and Net Assets / Fund Balance$195,333$225,721▲ $30,388
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nathanael TarwasokonoDirector Chairma
Gregg ThorneDirector
Michelle AkersDir./secreta
Veronica TeranDir./treasur
Mike GrundonDir./vice Ch
Marisa Perez-diazExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$221,001
Program Service Revenue
$0
Investment Income
$367
Other Revenue
$0
All Other Contributions
$50,981
Change in Net Assets
$30,388
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$140,000
Other Expenses$50,980
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$140,000--$140,000
Conferences and Meetings$38,617--$38,617
Fees for Services Other$9,660--$9,660
Other Expenses$623--$623
Insurance$324--$324
Total Functional Expenses$190,980$0$0$190,980
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Holdsworth CenterAustin, TX501c3Teacher Grant$100,000
Center for Applied Sciences and TecSan Antonio, TX501c3Teacher Grants$40,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Organization's process to review form 990 upon completion of form 990, the cfo and ceo will review it and deliver it to the governing body for final approval.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Firstmark Credit Union Foundation
EIN
84-2953607
Phone
2104420102
Address
2023 GOLD CANYON DRIVE, SAN ANTONIO, TX 78232-1703

Signing Officer

Name
Gregg Thorne
Title
Director
Phone
2103087813
Signed
2024-11-06

Organization Details

Principal Officer
Gregg Thorne
Formed
2019
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Schwartz Cole and Associates LLC
Address
7301 WILES RD STE 202, CORAL SPRINGS, FL 33067
Preparer
Daniel J Cole
Phone
9547551760
Supplemental Narrative

Additional Explanations

Form 990

In october 2021, firstmark credit union introduced the power of the dollar checking to include a 1 impact fee (paid by members). The monthly impact fee goes directly to the firstmark foundation to make a tangible, positive impact in the education community through the collective support of the membership. On behalf of the credit union members, the firstmark foundation will fund significant needs across school districts, such as the construction of new facilities, improving existing amenities, enhancing learning spaces, and providing educator grants and student scholarships. During the year, the foundation awarded a 100,000 grant to the holdsworth center to help scale their superintendent leadership program, designed to enhance the unique leadership needs and responsibilities required of our superintendents serving in public education. The foundation also awarded a 40,000 grant to the cast schools network to provide additional funding for their teacher residency program. This program allows new teachers to gain hands-on classroom experience where they can be challenged and mentored as they begin their teaching careers. In addition, in 2023, the firstmark foundation pledged 100,000 to samsat, the san antonio museum of science and technology, in support of the samsat educator fellows program. The program will train twelve teachers over one year in methods of project-based learning (pbl), including three teachers with prior experience who will also serve as mentors. With a focus on aiding teachers who serve underrepresented populations via title i schools, the program is designed to provide professional development and an overall unique experience. Professional development opportunities are limited and, oftentimes, come at an added expense to the educator, which could impact their growth in the field. By merging both practice and training through pbl, it will provide teachers advantages toward their real-world transition. The program will also give each teacher the chance to make two visits to samsat area 21 on field trips with their students, where they will receive direct assistance integrating new approaches into daily practice.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN OCTOBER 2021, FIRSTMARK CREDIT UNION INTRODUCED THE POWER OF THE DOLLAR CHECKING TO INCLUDE A 1 IMPACT FEE (PAID BY MEMBERS). THE MONTHLY IMPACT FEE GOES DIRECTLY TO THE FIRSTMARK FOUNDATION TO MAKE A TANGIBLE, POSITIVE IMPACT IN THE EDUCATION COMMUNITY THROUGH THE COLLECTIVE SUPPORT OF THE MEMBERSHIP. ON BEHALF OF THE CREDIT UNION MEMBERS, THE FIRSTMARK FOUNDATION WILL FUND SIGNIFICANT NEEDS ACROSS SCHOOL DISTRICTS, SUCH AS THE CONSTRUCTION OF NEW FACILITIES, IMPROVING EXISTING AMENITIES, ENHANCING LEARNING SPACES, AND PROVIDING EDUCATOR GRANTS AND STUDENT SCHOLARSHIPS. DURING THE YEAR, THE FOUNDATION AWARDED A 100,000 GRANT TO THE HOLDSWORTH CENTER TO HELP SCALE THEIR SUPERINTENDENT LEADERSHIP PROGRAM, DESIGNED TO ENHANCE THE UNIQUE LEADERSHIP NEEDS AND RESPONSIBILITIES REQUIRED OF OUR SUPERINTENDENTS SERVING IN PUBLIC EDUCATION. THE FOUNDATION ALSO AWARDED A 40,000 GRANT TO THE CAST SCHOOLS NETWORK TO PROVIDE ADDITIONAL FUNDING FOR THEIR TEACHER RESIDENCY PROGRAM. THIS PROGRAM ALLOWS NEW TEACHERS TO GAIN HANDS-ON CLASSROOM EXPERIENCE WHERE THEY CAN BE CHALLENGED AND MENTORED AS THEY BEGIN THEIR TEACHING CAREERS. IN ADDITION, IN 2023, THE FIRSTMARK FOUNDATION PLEDGED 100,000 TO SAMSAT, THE SAN ANTONIO MUSEUM OF SCIENCE AND TECHNOLOGY, IN SUPPORT OF THE SAMSAT EDUCATOR FELLOWS PROGRAM. THE PROGRAM WILL TRAIN TWELVE TEACHERS OVER ONE YEAR IN METHODS OF PROJECT-BASED LEARNING (PBL), INCLUDING THREE TEACHERS WITH PRIOR EXPERIENCE WHO WILL ALSO SERVE AS MENTORS. WITH A FOCUS ON AIDING TEACHERS WHO SERVE UNDERREPRESENTED POPULATIONS VIA TITLE I SCHOOLS, THE PROGRAM IS DESIGNED TO PROVIDE PROFESSIONAL DEVELOPMENT AND AN OVERALL UNIQUE EXPERIENCE. PROFESSIONAL DEVELOPMENT OPPORTUNITIES ARE LIMITED AND, OFTENTIMES, COME AT AN ADDED EXPENSE TO THE EDUCATOR, WHICH COULD IMPACT THEIR GROWTH IN THE FIELD. BY MERGING BOTH PRACTICE AND TRAINING THROUGH PBL, IT WILL PROVIDE TEACHERS ADVANTAGES TOWARD THEIR REAL-WORLD TRANSITION. THE PROGRAM WILL ALSO GIVE EACH TEACHER THE CHANCE TO MAKE TWO VISITS TO SAMSAT AREA 21 ON FIELD TRIPS WITH THEIR STUDENTS, WHERE THEY WILL RECEIVE DIRECT ASSISTANCE INTEGRATING NEW APPROACHES INTO DAILY PRACTICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION'S PROCESS TO REVIEW FORM 990 UPON COMPLETION OF FORM 990, THE CFO AND CEO WILL REVIEW IT AND DELIVER IT TO THE GOVERNING BODY FOR FINAL APPROVAL.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C14
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IRS990ScheduleR/PaidEmployeesSharingInd0false
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IRS990/SchoolOperatingInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0195333
IRS990/TotalAssetsEOYAmt0225721
IRS990/TotalAssetsGrp/BOYAmt0195333
IRS990/TotalAssetsGrp/EOYAmt0225721
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0221001
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0190980
IRS990/TotalFunctionalExpensesGrp/TotalAmt0190980
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0195333
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0225721
IRS990/TotalProgramServiceExpensesAmt0190980
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0367
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0221368
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SAN ANTONIO
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IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0HTTPS://WWW.FIRSTMARKCU.ORG/FOUNDATION
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0GREGG THORNE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02103087813
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRSTMARK CREDIT UNION FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0842953607
ReturnHeader/Filer/PhoneNum02104420102
ReturnHeader/Filer/USAddress/AddressLine1Txt02023 GOLD CANYON DRIVE
ReturnHeader/Filer/USAddress/CityNm0SAN ANTONIO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd0782321703
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261694946
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHWARTZ COLE AND ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07301 WILES RD STE 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033067
ReturnHeader/PreparerPersonGrp/PhoneNum09547551760
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL J COLE
ReturnHeader/ReturnTs02024-11-06T11:27:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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