Pentagon Federal Credit Union Foundation

Because Military Heroes need heroes, too.

aka PenFed Foundation   |   Alexandria, VA   |  http://www.penfedfoundation.org

Mission

The mission of the PenFed Foundation for Military Heroes is to empower military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity.

Ruling year info

2002

Chief Executive Officer, Foundation

Mr. James Schenck

Main address

2930 Eisenhower Avenue

Alexandria, VA 22314 USA

Show more contact info

EIN

54-2062271

NTEE code info

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.

Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018.
Register now

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The Pentagon Federal Credit Union Foundation was created to assist military personnel in securing a sound financial future for themselves and their families. The mission of the PenFed Foundation for Military Heroes is to empower military service members, veterans and their communities with the skills and resources to realize financial stability and opportunity.

Our programs

SOURCE: Self-reported by organization

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

Military Heroes Grant Program

The Military Heroes Grant Program provides high-impact financial assistance to prevent a significant crisis or improve quality of life for veterans, military members, their families, and caregivers who may be experiencing an unforeseen emergency with life changing consequences. Our assistance aims to address an emergency or unmet need that has a time sensitive solution such as benefiting service members and veterans dealing with a service-related injury, military spouses or children facing a medical challenge, or someone in the military community who has been significantly impacted by a natural disaster.

Population(s) Served
Veterans
Caregivers
Military personnel
Families

VEIP helps veteran entrepreneurs access capital through workshops, boot camps, and investment. VEIP provides veteran entrepreneurs with education, mentorship, and networking to enhance their fundraising strategy while connecting them with investors.

Education
Educational programs that focus on different aspects of entrepreneurship and access to capital.

Preparation
Our Master’s Program, a one-year intensive program to prepare growth-stage, veteran-owned startups to raise investor funds to scale their company and tackle the challenge of access to capital

Investment
We invest seed stage capital in veteran entrepreneurs. The PenFed Foundation conducts Review Boards quarterly for possible investments and then equips founders with the financing they need to succeed. Previous investments include True Made Foods, LeaseLock, Honest Soul + Yoga, Ziberty, and Flagship Management.

Population(s) Served
Military personnel
Veterans

In response to the 2021 crisis in Afghanistan the Foundation opened the Afghan Rescue and Resettlement Program to assist refugees who are proven to have assisted our nation’s veterans or supported our country’s values in exemplary ways. The program has a focus on resettling Afghan women and their families who worked alongside U.S. Army women soldiers through the Army’s Cultural Support Team (CST).

The program is designed to evolve to meet the changing needs of our special Afghan cohort by providing resources with the following:
• Basic needs such as food, furniture, clothing, medical care, household items, etc.
• Rent coverage until they are able to work
• Relocation costs such as flights
• Access to advanced ESL classes
• College or vocational tuition
• Quality childcare
• Tuition for children nearing college age
• Stipends for extracurricular activities for the children
• Transportation
• Other needs as determined by the women

Population(s) Served
Refugees and displaced people

Where we work

Awards

Association and Nonprofit 2021

Moxie Award

Nonprofit of the Year 2020

Northern Virginia Chamber of Commerce

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of financial literacy courses conducted

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults

Related Program

Military Heroes Grant Program

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

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

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

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

Our vision is that all service members are able to serve our nation free of financial worry and that every veteran has a strong financial future.

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

The PenFed Credit Union covers most personnel and operating expenses, meaning more than 95% of donations go directly to support our programs. We partner with the Department of Veterans Affairs, the Disabled American Veterans, and numerous veterans service organizations to help identify needy veterans, and we accept referrals from numerous other veterans service organizations.

Since the Foundation's inception in 2001, it has provided over $7,500,000 to help Military Heroes purchase their first home; in 2020, 217 home purchase grants were provided. The foundation's Military Heroes emergency assistance grants have provided over $8,000,000 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 140,000 military families have been helped by the PenFed Foundation. In 2018, we launched the Veteran Entrepreneur Investment Program, which supports veteran-owned startups with access to resources. In 2021, we reached more than 7,000 veteran entrepreneurs through the program.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • Who are the people you serve with your mission?

    Military veterans, service members, and their families and caregivers.

  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Focus groups or interviews (by phone or in person), Case management notes,

  • How is your organization using feedback from the people you serve?

    To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects,

  • What significant change resulted from feedback?

    Feedback from our Military Heroes Fund emergency financial assistance program and from surveys informed us to remove the "combat service requirement" from our application to better serve our Military Heroes. We are currently evaluating survey data to help inform our Military Heroes Fund past due bills' coverage and may make further changes based on this information.

  • With whom is the organization sharing feedback?

    The people we serve, Our staff, Our board, Our funders, Our community partners,

  • Which of the following feedback practices does your organization routinely carry out?

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, Staff find it hard to prioritize feedback collection and review due to lack of time,

Financials

Pentagon Federal Credit Union Foundation
lock

Unlock financial insights by subscribing to our monthly plan.

Subscribe

Unlock nonprofit financial insights that will help you make more informed decisions. Try our monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights?
Learn more about GuideStar Pro.

Operations

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

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Pentagon Federal Credit Union Foundation

Board of directors
as of 02/22/2022
SOURCE: Self-reported by organization
Board chair

The Honorable Deborah Lee James

Fred Caprio

The Caprio Group

Sandra (Sam) Patricola

Air Force Audit Agency

James Quinn

USA (Ret)

Edward Cody

James Dinegar

Deborah James

Alfred Rudolph

David Barondess

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and 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? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 2/9/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

No data

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data