Nonprofit · EIN 54-2062271
PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION
Also known as PENFED FDN MILITARY HEROES FUND
Tax-exempt · MCLEAN, VA 22102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,252,682 | $2,260,393 | $992,289 | $11,395,752 | $86,941 | $11,308,811 |
| December 31, 2023 | 990 (amended) | $3,288,623 | $2,618,884 | $669,739 | $8,534,940 | $736,001 | $7,798,939 |
| December 31, 2022 | 990 | $7,823,201 | $4,296,875 | $3,526,326 | $8,671,732 | $196,606 | $8,475,126 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,414,962
- Program service revenue
- $0
- Investment income
- $134,331
- Net gain from sales of assets
- $101
- Net income from fundraising events
- -$405,111
- Other revenue
- -$296,611
Expenses
- Grants and similar amounts paid
- $1,324,266
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $14,078
- Accounting fees
- $223,302
- Travel
- $64,824
- Program services (functional)
- $1,894,180
- Management and general (functional)
- $351,865
- Fundraising (functional)
- $14,348
Balance sheet and other
- Total assets, start of year
- $8,534,940
- Total assets, end of year
- $11,395,752
- Total liabilities, end of year
- $86,941
- Net assets, end of year
- $11,308,811
- Net assets without donor restrictions
- $9,900,420
- Net assets with donor restrictions
- $1,408,391
- Gross receipts
- $4,017,049
- Employees
- 0
- Volunteers
- 60
- Year formed
- 2001
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Andrea McCarren | President Highest-paid employee | 37.5 | $0 | $346,524 | $23,638 |
| Katherine Watson | Director of Philanthropy Highest-paid employee | 37.5 | $0 | $142,157 | $14,879 |
| Deborah Lee James | Chairwoman Trustee or director, Officer | 2 | $0 | $0 | $0 |
| James Quinn | Vice Chair Trustee or director, Officer | 1.5 | $0 | $0 | $0 |
| Sandra Patricola | Secretary/Treasurer Trustee or director, Officer | 1 | $0 | $0 | $0 |
| David Barondess | Director Trustee or director | 1 | $0 | $0 | $0 |
| Edward B Cody | Director Trustee or director | 1 | $0 | $0 | $0 |
| Doug Doan | Director Trustee or director | 1 | $0 | $0 | $0 |
| John Flynn | Director Trustee or director | 1 | $0 | $0 | $0 |
| Pete Hilger | Director Trustee or director | 1 | $0 | $0 | $0 |
| Alfred Rudolph | Director Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| David Clark | VP Foundation Operations (Until 7/23) Highest-paid employee | 37.5 | $0 | $205,071 | $4,813 |
| Scott Davis | Dir, Vet Entrepreneurship (until 12/23) Highest-paid employee | 37.5 | $0 | $180,584 | $5,765 |
| Katherine Watson | Director of Philanthropy Highest-paid employee | 37.5 | $0 | $113,510 | $4,131 |
| Deborah Lee James | Chairwoman Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Fred B Caprio | Vice Chair Trustee or director, Officer | 1.5 | $0 | $0 | $0 |
| Sandra Patricola | Secretary/Treasurer Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Edward B Cody | Director Trustee or director | 1 | $0 | $0 | $0 |
| Jim Dinegar | Director Trustee or director | 1 | $0 | $0 | $0 |
| James Quinn | Director Trustee or director | 1 | $0 | $0 | $0 |
| Alfred Rudolph | Director Trustee or director | 1 | $0 | $0 | $0 |
| David Barondess | Director Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2022: 10 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| David Clark | VP Foundation Operations Highest-paid employee | 37.5 | $0 | $220,022 | $6,220 |
| Mrs Seda Goff THRU 1022 | Dir, Veteran Entrepreneurs Highest-paid employee | 37.5 | $0 | $178,080 | $6,307 |
| MS DEBORAH LEE JAMES | Chairwoman Trustee or director, Officer | 2 | $0 | $0 | $0 |
| MR FRED B CAPRIO | Vice Chair Trustee or director, Officer | 1.5 | $0 | $0 | $0 |
| MRS SANDRA PATRICOLA | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| David P Barondess | Director Trustee or director | 1 | $0 | $0 | $0 |
| MR EDWARD B CODY | Director Trustee or director | 1 | $0 | $0 | $0 |
| James C Dinegar | Director Trustee or director | 1 | $0 | $0 | $0 |
| COL RET JAMES QUINN | Director Trustee or director | 1 | $0 | $0 | $0 |
| MR ALFRED RUDOLPH | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7940 JONES BRANCH DR, MCLEAN, VA 22102-3381
- In care of
- % WILLIAM HEYER
- Principal officer (990 for 2024)
- Andrea McCarren, 2930 Eisenhower Avenue, Alexandria, VA 22314
- Signed the 990
- Chris Sowder, Director of Finance
- Phone
- (703) 838-1200
- Website
- www.PenFedFoundation.org
- Return prepared by
- Aprio Advisory Group LLC
Mission
The mission of the PenFed Foundation is to champion our military through investment, advocacy, and outreach.
Program accomplishments
- 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.Expenses $1,486,975 · grants $1,304,050
- 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.Expenses $357,967 · grants $19,716
- Other ProgramsExpenses $49,238 · grants $500
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-2062271
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N20)
- Assets (IRS master file)
- $11,395,752
- Income (IRS master file)
- $4,017,049
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,252,682 | $2,260,393 | $11,395,752 | IRS |
| 990 | December 2023 | $3,288,623 | $2,618,884 | $8,534,940 | XML |
| 990 | December 2022 | $7,823,201 | $4,296,875 | $8,671,732 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-2062271).
Questions about PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION
- What is the EIN of PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION?
- The employer identification number (EIN) of PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION is 54-2062271.
- Is PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION?
- The 990 for the year ended December 31, 2024 names Andrea McCarren.
- Who are the officers and directors of PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does PENTAGON FEDERAL CREDIT UNION FDN PENFED FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,252,682, expenses of $2,260,393 and total assets of $11,395,752 at year end.
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