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← COMMUNITY FINANCIAL RESOURCES

Form 990 for tax year 2024

Filed by COMMUNITY FINANCIAL RESOURCES.

Totals

Total revenue
$785,438
Total expenses
$1,294,118
Contributions and grants received
$319,569
Grants paid
$73,452
Program service revenue
$453,450
Investment income
$12,419
Other revenue
$0
Total assets, end of year
$3,518,526
Total liabilities, end of year
$2,394,443
Net assets or fund balances, end of year
$1,124,083
Program services expenses (Part IX)
$1,076,758
Management and general expenses
$163,668
Fundraising expenses
$53,692
Program service expenses (Part III)
$1,076,758

Program services were 83.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $71,249

  • 1f · All other contributions, gifts and grants

    $248,320

  • 2a · Program service revenue: Education programs

    total $221,802 · related or exempt $221,802

  • 2b · Program service revenue: Guarenteed income program

    total $231,648 · related or exempt $231,648

  • 3 · Investment income

    total $12,419 · excluded $12,419

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $73,452 · program services $73,452

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $147,559 · program services $128,377 · management and general $13,451 · fundraising $5,731

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $693,245 · program services $581,308 · management and general $90,409 · fundraising $21,528

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $27,424 · program services $26,858 · management and general $566

  • 10 · Payroll taxes

    total $60,721 · program services $51,032 · management and general $7,745 · fundraising $1,944

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $6,390 · management and general $6,390

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $22,503 · fundraising $22,503

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $5,025 · program services $1,912 · management and general $3,113

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $15,590 · program services $5,928 · management and general $9,350 · fundraising $312

  • 14 · Information technology

    total $67,397 · program services $55,941 · management and general $10,108 · fundraising $1,348

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $7,746 · program services $1,284 · management and general $6,462

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $6,990 · program services $55 · management and general $6,935

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $83,797 · program services $83,797

  • 23 · Insurance

    total $8,862 · management and general $8,862

  • 24a · Other expenses: Participant Incentives

    total $48,952 · program services $48,952

  • 24b · Other expenses: Dues, license & service fees

    total $18,465 · program services $17,862 · management and general $277 · fundraising $326

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $829,684 · end of year $184,628

  • 2 · Savings and temporary cash investments

    beginning of year $2,930,438 · end of year $2,963,917

  • 3 · Pledges and grants receivable

    beginning of year $26,000 · end of year $22,500

  • 4 · Accounts receivable

    beginning of year $84,733 · end of year $23,388

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,250 · end of year $2,893

  • 10a · Land, buildings and equipment: cost or other basis

    $292,877

  • 10b · Land, buildings and equipment: accumulated depreciation

    $195,951

  • 10c · Land, buildings and equipment, net

    beginning of year $180,723 · end of year $96,926

  • 11 · Investments: publicly traded securities

    end of year $224,274

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,747 · end of year $73,743

  • 18 · Grants payable

    beginning of year $2,186,463 · end of year $2,165,723

  • 19 · Deferred revenue

    beginning of year $182,855 · end of year $154,977

  • 27 · Net assets without donor restrictions

    beginning of year $1,224,780 · end of year $989,083

  • 28 · Net assets with donor restrictions

    beginning of year $407,983 · end of year $135,000

Mission and programs · 2024

Mission

CFR provides pathways to financial well-being and economic justice with safe and reliable financial products for low-wealth communities.

Activities or mission (Part I)

CFR provides research, education, program development and technical assistance for non-profit organizations and their low-income constituents on financial literacy, money management, and accessing and effectively using low-cost financial products and services.

  • Education: Community Financial Resources (CFR) provides pathways to financial well-being and economic justice with safe and reliable financial products for low-wealth communities. CFR continued our efforts in 2024 to achieve the following milestones: empowered 2,803 low-income, low-wealth participants to open bank accounts; over $21 million deposited on more than 8,276 accounts; partnered with 8 Payment Facilitation Programs nationwide, processing over $2.5M to 997 recipients, updated our product portal, both on the backend and frontend, as well as hiring new staff positions.

    Expenses $969,611 · Grants $73,452 · Revenue $221,802

  • Guaranteed Income: CFR partnered with 20 Guaranteed Income programs nationwide, processing over $6.7 million to 1,098 participants, benefiting a diverse array of populations, including first-time moms, high school students, foster youth, artists, refugees escaping domestic violence, black youth, returning citizens, seniors, and families with young children.

    Expenses $107,147 · Revenue $231,648

As filed on the 2024 return.

Listed in Part VII

  • Parisa Esmaili

    Executive Dir.

    Total calculated
    $147,559
    From this org
    $142,418
    From related orgs
    $0
    Other
    $5,141
    Hours/week
    40

  • Carol Iascone

    Operations Manager

    Total calculated
    $119,420
    From this org
    $111,760
    From related orgs
    $0
    Other
    $7,660
    Hours/week
    40

  • Cynthini West

    CFO

    Total calculated
    $100,294
    From this org
    $100,294
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Beadsie Woo

    President

    Total calculated
    $0
    Hours/week
    2

  • Kendall Baker

    Sec/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Lauren Leimbach

    Founder & Board

    Total calculated
    $0
    Hours/week
    1

  • Rebeca Rangel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lydia Bustamante

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Suwandi Tandjung

    Board Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
16 July 2025
IRS schema version
2024v5.2
Source object
202501979349301860

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