Totals
- Total revenue
- $1,015,485
- Total expenses
- $1,026,679
- Contributions and grants received
- $645,630
- Grants paid
- $49,500
- Program service revenue
- $357,047
- Investment income
- $12,808
- Other revenue
- $0
- Total assets, end of year
- $4,054,828
- Total liabilities, end of year
- $2,422,065
- Net assets or fund balances, end of year
- $1,632,763
- Program services expenses (Part IX)
- $854,054
- Management and general expenses
- $124,451
- Fundraising expenses
- $48,174
- Program service expenses (Part III)
- $854,054
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)
$145,000
-
1f · All other contributions, gifts and grants
$500,630
-
2a · Program service revenue: Program Service Fees
total $357,047 · related or exempt $357,047
-
3 · Investment income
total $12,808 · excluded $12,808
-
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 $41,000 · program services $41,000
-
2 · Grants to domestic individuals
total $8,500 · program services $8,500
-
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 $190,313 · program services $121,724 · management and general $62,992 · fundraising $5,597
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $474,145 · program services $451,986 · management and general $14,752 · fundraising $7,407
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $36,366 · program services $34,088 · management and general $2,038 · fundraising $240
-
10 · Payroll taxes
total $43,494 · program services $40,921 · management and general $1,881 · fundraising $692
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $7,260 · management and general $7,260
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $33,187 · fundraising $33,187
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $41,725 · program services $33,887 · management and general $6,825 · fundraising $1,013
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $38,733 · program services $26,879 · management and general $11,816 · fundraising $38
-
14 · Information technology
total $15,278 · program services $14,135 · management and general $1,143
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $5,400 · program services $766 · management and general $4,634
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $3,418 · program services $1,255 · management and general $2,163
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $50,993 · program services $50,993
-
23 · Insurance
total $8,947 · management and general $8,947
-
24a · Other expenses: Participant Incentives
total $27,920 · program services $27,920
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,332,073 · end of year $829,684
-
2 · Savings and temporary cash investments
beginning of year $3,848,006 · end of year $2,930,438
-
3 · Pledges and grants receivable
end of year $26,000
-
4 · Accounts receivable
beginning of year $34,576 · end of year $84,733
-
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 $4,369 · end of year $3,250
-
10a · Land, buildings and equipment: cost or other basis
$292,877
-
10b · Land, buildings and equipment: accumulated depreciation
$112,154
-
10c · Land, buildings and equipment, net
beginning of year $137,946 · end of year $180,723
-
11 · Investments: publicly traded securities
beginning of year $21,692 · end of year $0
-
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 $39,102 · end of year $52,747
-
18 · Grants payable
beginning of year $3,523,785 · end of year $2,186,463
-
19 · Deferred revenue
beginning of year $171,818 · end of year $182,855
-
27 · Net assets without donor restrictions
beginning of year $1,180,174 · end of year $1,224,780
-
28 · Net assets with donor restrictions
beginning of year $463,783 · end of year $407,983
Mission and programs · 2023
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 accelerated our efforts in 2023 to achieve the following milestones: empowered 3,630 low-income, low-wealth participants to open bank accounts; over $26 million deposited on more than 8,900 accounts; launched a direct-to-consumer version of MoneyGoals, introducing Rosie the virtual coach; and made significant investments in CFRs technical capabilities and infrastructure, as well as hiring new staff positions.
Expenses $608,415 · Grants $43,500 · Revenue $94,489
-
Guaranteed Income: CFR partnered with 24 Guaranteed Income programs nationwide, processing over $8.6 million to 1,381 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 $245,639 · Grants $6,000 · Revenue $262,558
As filed on the 2023 return.
Listed in Part VII
-
Parisa Esmaili
Executive Dir.
- Total calculated
- $139,913
- From this org
- $139,913
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Carol Iascone
Director of Ops
- Total calculated
- $116,684
- From this org
- $103,887
- From related orgs
- $0
- Other
- $12,797
- Hours/week
- 40
-
Cynthini West
CFO
- Total calculated
- $50,400
- From this org
- $50,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Beadsie Woo
President
- Total calculated
- $0
- Hours/week
- 1
-
Kendall Baker
Sec/Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
David Derryck
President
- Total calculated
- $0
- Hours/week
- 1
-
Pat Krakov
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Suwandi TandJuandi
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Lauren Leimbach
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Lydia Bustamante
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
-
$14,000
Partner Stipend - JPMC Grant
-
$6,000
Better Angels Subscription
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202442009349300029
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