Totals
- Total revenue
- $2,073,323
- Total expenses
- $1,898,580
- Contributions and grants received
- $1,731,824
- Grants paid
- $0
- Program service revenue
- $337,048
- Investment income
- $4,451
- Other revenue
- $0
- Total assets, end of year
- $847,051
- Total liabilities, end of year
- $121,260
- Net assets or fund balances, end of year
- $725,791
- Program services expenses (Part IX)
- $1,387,970
- Management and general expenses
- $348,345
- Fundraising expenses
- $162,265
- Program service expenses (Part III)
- $1,387,970
Program services were 73.1% 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)
$416,230
-
1f · All other contributions, gifts and grants
$1,315,594
-
1g · Noncash contributions included above
$216,646
-
2a · Program service revenue: Program & Consulting Fees
total $337,048 · related or exempt $337,048
-
3 · Investment income
total $2,340 · excluded $2,340
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $218,757
-
7b · Less cost or other basis and sales expenses
securities $216,646
-
7c · Gain or loss
securities $2,111
-
7d · Net gain or loss
total $2,111 · related or exempt $2,111
-
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 $0
-
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 $151,711 · program services $128,954 · management and general $7,586 · fundraising $15,171
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $977,110 · program services $754,104 · management and general $134,161 · fundraising $88,845
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $234,909 · program services $183,765 · management and general $29,498 · fundraising $21,646
-
10 · Payroll taxes
total $90,716 · program services $70,966 · management and general $11,391 · fundraising $8,359
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $252,751 · program services $135,975 · management and general $97,531 · fundraising $19,245
-
12 · Advertising and promotion
total $210 · management and general $210
-
13 · Office expenses
total $3,191 · program services $559 · management and general $2,632
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $5,400 · program services $4,224 · management and general $678 · fundraising $498
-
17 · Travel
total $46,202 · program services $21,780 · management and general $21,366 · fundraising $3,056
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $2,311 · management and general $2,311
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $18,889 · program services $14,776 · management and general $2,373 · fundraising $1,740
-
23 · Insurance
total $9,232 · management and general $9,232
-
24a · Other expenses: Software and Data Services
total $42,145 · program services $21,145 · management and general $17,297 · fundraising $3,703
-
24b · Other expenses: Incentives
total $26,059 · program services $24,884 · management and general $1,175
-
24c · Other expenses: Credit Service Fees
total $23,397 · program services $23,397
-
24d · Other expenses: Professional Development
total $9,769 · program services $1,803 · management and general $7,966
-
24e · All other expenses
total $4,578 · program services $1,638 · management and general $2,938 · fundraising $2
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $469,148 · end of year $495,530
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $24,775 · end of year $255,520
-
4 · Accounts receivable
beginning of year $69,323 · end of year $35,824
-
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 $10,977 · end of year $16,469
-
10a · Land, buildings and equipment: cost or other basis
$140,599
-
10b · Land, buildings and equipment: accumulated depreciation
$96,891
-
10c · Land, buildings and equipment, net
beginning of year $49,734 · end of year $43,708
-
11 · Investments: publicly traded securities
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 $48,909 · end of year $85,808
-
19 · Deferred revenue
beginning of year $24,000 · end of year $35,452
-
27 · Net assets without donor restrictions
beginning of year $261,715 · end of year $267,816
-
28 · Net assets with donor restrictions
beginning of year $289,333 · end of year $457,975
Mission and programs · 2023
Mission
To interrupt structural racism by partnering with individuals and communities to provide credit building education, one-on-one counseling, and access to financial products needed to thrive financially.
-
The road to good credit is shorter than many think. People do not have to be wealthy to have a good credit score, but they do have to know the rules of the credit scoring system and adopt concrete strategies to establish and sustain creditworthiness. Enter Working Credit: our program aims to scale credit building, particularly among people of color, as a strategy for achieving financial resilience in the near term, and expanding access to economic and social opportunities in the longer term. We do this by helping participants acquire the upfront knowledge, affordable products, and ongoing support they need to achieve and sustain prime credit scores and to establish a safety net of at least $1,000 in available credit. Working Credits one-of-a-kind credit building program is comprised of two parts:1.Credit Building Workshops. Working Credit offers a signature virtual and in-person 45-minute workshop that provides baseline information on the credit scoring system, including the high cost of having poor or no credit, the fundamental rules of credit scoring, simple and straightforward strategies to establish and/or build a strong score, and scams to avoid like predatory credit repair. 2.One-on-One Credit Building Counseling and Coaching for 12 Months. Working Credits one-on-one, personalized, credit building counseling starts with a 60-minute, in-depth and confidential session during which Working Credit counselors and participants:a.Complete a baseline financial profile that encompasses a detailed personal/household budget reflecting the participants current reality and focusing on their unique goals; b.Pull and review a soft inquiry version of the participants credit report (soft inquiries do not impact consumers credit scores) to make sure the information is accurate and that participants understand its content and what may be affecting their score (if any), and identify barriers and solutions for improving their situation based on their goals; and c.Develop a personalized Credit Action Plan that serves as a detailed roadmap informed by the participants goals. Those who complete the first counseling session have unlimited access to, and receive unlimited help from, their Working Credit counselor for 12 months. Regardless of how many or how few additional sessions participants request, our counselors pull each persons credit reports and credit scores at 6 and 12 months after that first meeting. They then share with them a personalized report that explains what changed, why, and what the participant can do to continue building credit and make the most of new and improved scores. In addition to being credit building subject matter experts, Working Credits counselors and coaches can and do support participants on a range of financial topics. These include but are not limited to:Managing credit card, medical, student loan, collections, and other debtNavigating student aid and post-secondary education financing resourcesRefinancing high interest vehicle loansCancelling contracts, when possible, for predatory credit/debt servicesFiling for bankruptcyHandling judgments, garnishments, and tax liensNavigating credit and divorceRenting or purchasing a home (knowing your rights and options)Applying for tax credits (e.g., EITC) and other benefitsAs we have expanded our capacity to reach people in different contexts, our relational model is evidence-based and scalable. Provided remotely and with a robust backend platform to manage participants and partners, our services can be offered as a standalone program, or layered in as a complement to an existing initiative so that we and our partners can focus on what we each do bestand together better support our mutual participants. Working Credits goal is not just to convey information, but to transform that information into actionable knowledge and sustained impact that improves participants financial circumstances and interrupts barriers to goal achievement caused by structural racism in the credit system.
Expenses $1,387,970 · Revenue $337,048
As filed on the 2023 return.
Listed in Part VII
-
Sarah Chenven
CEO
- Total calculated
- $103,091
- From this org
- $103,091
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Erica Lowitz
Founder/Advisor
- Total calculated
- $48,620
- From this org
- $48,620
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Jacqueline Scott
President
- Total calculated
- $0
- Hours/week
- 2
-
Bob Thomas
Vice President
- Total calculated
- $0
- Hours/week
- 2
-
Ellen Meade
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Kim Allman
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Gary Kash
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kant Desai
Director
- Total calculated
- $0
- Hours/week
- 2
-
Diana Elliott
Director
- Total calculated
- $0
- Hours/week
- 2
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 25 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202432079349300033
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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