Human Services

Pentagon Federal Credit Union Foundation

Because Military Heroes need heroes too

aka PenFed Foundation

Alexandria, VA

Mission

Our mission is to provide service members, veterans, their families and support networks with the skills and resources they need to build a strong financial future. The Foundation changes lives through financial education, credit building, home ownership and short-term assistance.

Ruling Year

2002

Volunteer Chief Executive Officer, Foundation

Mr. James Schenck

Main Address

2930 Eisenhower Avenue

Alexandria, VA 22314 USA

Keywords

financial counseling, emergency financial assistance, home ownership, housing, veterans, caregivers, microloans, credit building

EIN

54-2062271

 Number

4781548324

Cause Area (NTEE Code)

Financial Counseling, Money Management (P51)

Community Improvement, Capacity Building N.E.C. (S99)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Social Media

Programs + Results

What we aim to solve New!

The Pentagon Federal Credit Union Foundation was created to assist military personnel in securing a sound financial future for themselves and their families. The PenFed Foundation's mission is to provide service members, veterans, their families and support networks with the skills and resources they need to build a strong financial future. The Foundation changes lives through financial education, credit building, home ownership and short-term assistance.

Our programs

What are the organization's current programs, how do they measure success, and who do the programs serve?

SOURCE: Self-reported by organization

Military Heroes Fund

Dream Makers

Interest Free Loans

Veteran Entrepreneur Investment Program

Where we workNew!

Our Results

How does this organization measure their results? It's a hard question but an important one. These quantitative program results are self-reported by the organization, illustrating their committment to transparency, learning, and interest in helping the whole sector learn and grow.

SOURCE: Self-reported by organization

Number of financial literacy courses conducted

TOTALS BY YEAR
Population(s) served

General/Unspecified,

Adults

Related program

Military Heroes Fund

Context notes

All grant recipients for Military Heroes Fund programs must receive financial counseling as part of their application process.

Charting Impact

Five powerful questions that require reflection about what really matters - results.

SOURCE: Self-reported by organization

What is the organization aiming to accomplish?

What are the organization's key strategies for making this happen?

What are the organization's capabilities for doing this?

How will they know if they are making progress?

What have and haven't they accomplished so far?

Help our Military Heroes in need secure a more stable financial future.

Continue to raise funds and expand our partnerships and programs to help our Military Heroes in need.

The PenFed Credit Union covers all personnel and most operating expenses, and our Night of Heroes Gala and Military Heroes Golf Classic raise over $2M to support our programs. All other funds donated to the Foundation go 100% to support our Military Heroes in need. We partner with the Department of Veterans Affairs, the Disabled American Veterans, and numerous credit unions to help identify needy veterans, and we accept referrals from numerous other veterans service organizations.

We make progress every day, with military families and veterans purchasing a home they could not purchase without our grant, with active duty military personnel who secure an interest free loan that helps them avoid predatory lenders, and with our returning Afghan and Iraq war veterans when they can keep their car and stay in their homes as they weather a temporary financial setback due to their injuries and needed hospital care.

Since the Foundation's inception in 2001, it has provided over $6,200,000 to help Military Heroes purchase their first home; in 2017, 125 home purchase grants were provided. In interest-free loans, the foundation has provided 20,000 loans worth over $9,000,000 since 2001. The foundation's Military Heroes emergency assistance grants have provided over $6,900,000 in emergency funds since inception. In 2008, the PenFed Foundation embraced a new project effort--raising $11 million in private donations to cover the cost of building what is now the Lee and Penny Anderson Defenders Lodge--a $17 million public-private partnership between the PenFed Foundation and the U.S. Department of Veterans Affairs. Since 2001, more than 125,000 military families have been helped by the PenFed Foundation.

External Reviews

Financials

Pentagon Federal Credit Union Foundation

Fiscal year: Jan 01 - Dec 31

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Need more info on this nonprofit?

FREE: Gain immediate access to the following:

  • Address, phone, website and contact information
  • Forms 990 for 2017, 2016 and 2015
A Pro report is also available for this organization for $125.
Click here to view a Sample Report.

Operations

The people, governance practices, and partners that make the organization tick.

Need more info?

FREE: Gain immediate access to the following:

  • Address, phone, website and contact information
  • Forms 990 for 2017, 2016 and 2015
A Pro report is also available for this organization for $125.
Click here to see what's included.

Board Leadership Practices

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices.

SOURCE: Self-reported by organization

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Not Applicable

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

Not Applicable

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Not Applicable

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

Not Applicable

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?

Not Applicable