The Heritage Foundation of First Security
The Heritage Foundation of First Security is a private grantmaking foundation based in Chicago, Illinois. Established in 1996 as a nonprofit organization affiliated with First Security Federal Savings Bank, the foundation operates as a 501(c)(3) organization dedicated to supporting Ukrainian institutions and community organizations across the United States.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$704K
-15.0% YoY
Grant Count
1
-97.9% YoY
Avg Grant Size
$704K
+3978.1% YoY
Mission & Focus Areas
The foundation was created with the mission of financially supporting Ukrainian educational institutions, churches, seminaries, museums, social, cultural and youth organizations in the United States. The overarching goal is to help maintain the viability and vitality of the Ukrainian community in the US, to provide awareness of Ukrainian history and culture, and to highlight the richness of the Ukrainian heritage.
Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Ukrainian cultural and educational institutions
Grantmaking
The foundation is an active grantmaker with a significant funding portfolio. In 2023, the foundation made 45 grants totaling $828,166 in giving.
Average Grant
amount: $50–$73,500
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in Illinois, New York, and Pennsylvania, with a particular emphasis on supporting the Ukrainian community in these regions.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $10.4 million
- Total Liabilities: $0
- Revenue: $733,000
- Expenses: $835,000
As of 2023:
- Total Assets: $10,551,122
- Total Revenues: $524,781
- Total Expenses: $969,856
- Total Giving: $828,166
Historical Context: The foundation was established in 1996 with an initial infusion of $5 million in First Security cash and stock. Following First Security Federal Savings Bank's 2004 merger with MB Financial Bank, MB Financial donated $1 million to the foundation, bringing its asset base to approximately $12 million.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
183 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
The original board of directors included:
- Julian Kulas, President and CEO of First Security Federal Savings Bank
- Paul Nadzikewycz, Chairman of the Board of Directors
- Taras Gawryk, Bank Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TARAS DROZD | PRESIDENT | 10 | — |
| CHRYSTYA WERESZCZAK | VICE PRESIDENT | 2 | — |
| JULIAN E KULAS | PRESIDENT-EMERITUS | — | — |
| TERRY GAWRYK | SECRETARY-TREASURER | 2 | — |
| PAUL BANDRIWSKY | TRUSTEE | — | — |
| MOTRIA MELNYK | TRUSTEE | — | — |
| MARIA KRUTIAK | TRUSTEE | — | — |
| DR PAUL NADZIKIEWYCZ | TRUSTEE | — | — |
Recent News & Activity
Recent developments and announcements
The foundation continues to thrive and actively support Ukrainian institutions. The organization maintains its commitment to the Ukrainian community through ongoing grantmaking activities, with recent grants distributed to major Ukrainian cultural and educational organizations in the United States.
[PDF] Download PDF File - Ukrainian Sports Hall of Fame and MuseumSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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