Totals
- Total revenue
- $773,930
- Total expenses
- $1,436,525
- Contributions and grants received
- $508,226
- Grants paid
- $0
- Program service revenue
- $263,081
- Investment income
- $2,623
- Other revenue
- $0
- Total assets, end of year
- $623,957
- Total liabilities, end of year
- $72,909
- Net assets or fund balances, end of year
- $551,048
- Program services expenses (Part IX)
- $1,164,267
- Management and general expenses
- $209,855
- Fundraising expenses
- $62,403
- Program service expenses (Part III)
- $1,164,267
Program services were 81.0% 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)
$82,508
-
1f · All other contributions, gifts and grants
$425,718
-
2a · Program service revenue: Program & Consulting Fees
total $263,081 · related or exempt $263,081
-
3 · Investment income
total $2,623 · excluded $2,623
-
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 $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 $189,979 · program services $161,482 · management and general $9,499 · fundraising $18,998
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $661,840 · program services $605,155 · management and general $33,092 · fundraising $23,593
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $202,157 · program services $181,941 · management and general $10,108 · fundraising $10,108
-
10 · Payroll taxes
total $69,629 · program services $62,667 · management and general $3,481 · fundraising $3,481
-
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 $155,140 · program services $66,879 · management and general $88,244 · fundraising $17
-
12 · Advertising and promotion
total $793 · program services $793
-
13 · Office expenses
total $6,092 · program services $552 · management and general $5,540
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $5,400 · program services $4,860 · management and general $270 · fundraising $270
-
17 · Travel
total $30,385 · program services $8,322 · management and general $22,063
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $9,966 · program services $8,970 · management and general $498 · fundraising $498
-
23 · Insurance
total $10,339 · program services $2,103 · management and general $8,236
-
24a · Other expenses: Software and Data Services
total $41,859 · program services $26,229 · management and general $10,647 · fundraising $4,983
-
24b · Other expenses: Credit Service Fees
total $18,254 · program services $18,254
-
24c · Other expenses: Professional Development
total $13,418 · program services $2,652 · management and general $10,394 · fundraising $372
-
24d · Other expenses: Incentives
total $6,120 · program services $6,037 · fundraising $83
-
24e · All other expenses
total $15,154 · program services $7,371 · management and general $7,783
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $637,109 · end of year $469,148
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $606,250 · end of year $24,775
-
4 · Accounts receivable
beginning of year $18,899 · end of year $69,323
-
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 $41,239 · end of year $10,977
-
10a · Land, buildings and equipment: cost or other basis
$127,736
-
10b · Land, buildings and equipment: accumulated depreciation
$78,002
-
10c · Land, buildings and equipment, net
beginning of year $39,046 · end of year $49,734
-
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 $49,006 · end of year $48,909
-
19 · Deferred revenue
beginning of year $79,894 · end of year $24,000
-
27 · Net assets without donor restrictions
beginning of year $636,052 · end of year $261,715
-
28 · Net assets with donor restrictions
beginning of year $577,591 · end of year $289,333
Mission and programs · 2022
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.
-
MAKE CREDIT WORK FOR YOU IS A 12-MONTH COMPREHENSIVE FINANCIAL WELLNESS PROGRAM THAT HELPS INDIVIDUALS BUILD AND SUSTAIN STRONG CREDIT SCORES, SO THEY CAN REDUCE OR ELIMINATE EXPENSES DUE TO POOR OR NO CREDIT. THE PROGRAM OFFERS WORKSHOPS ON THE CREDIT SYSTEM, AS WELL AS ONE-ON-ONE COUNSELING AND COACHING SERVICESALL AIMED AT HELPING PEOPLE UNDERSTAND AND MASTER THE CREDIT SCORING SYSTEM. EMPLOYERS CAN BRING MAKE CREDIT WORK FOR YOU TO THE WORK PLACE, NONPROFITS CAN BRING IT TO THEIR CLIENTS, AND INDIVIDUALS WITHOUT ANY INSTITUTIONAL AFFILIATION CAN SIGN UP FOR IT THROUGH WORKING CREDITS WEBSITE.CREDIT-BUILDING WORKSHOPThe program starts with a credit-building workshop for all eligible workers, designed to establish a foundation of knowledge about the ins and out of the credit-scoring system and how credit impacts a familys finances. At the end of the workshop, we encourage individuals to attend a one-on-one meeting with a Working Credit counselor, the next step in the process. To date, 63% of all workshop participant have asked for this service.ONGOING PERSONALIZED COACHINGAt the first one-on-one meeting, the counselor helps the employee put together a personalized budget and then reviews the employees credit report and score. Based on that information, the counselor frames out an individualized Credit Action Plandesigned to help the employee increase his or her credit score and improve theoverall credit profile. The first meeting is usually at the work site, andsubsequently the counselor and employee generally communicate by phone, text, oremail. Our counselors have all been trained as coaches, and we offer coaching services toall individuals as part of Make Credit Work for You. To date, two-thirds of allindividuals have asked for and are receiving this service. With coaching, the counselor supports the individual by holding him or her accountable for taking each step outlined in the Credit Action Plan, adding encouragement and structure to the credit building process.CW-3 CREDIT-BUILDING PRODUCTFOR MANY individuals, OUR COUNSELORS WILL RECOMMEND USE OF WORKING CREDIT'S CW-3 CREDIT BUILDING PRODUCT, OFFERED BY A THIRD-PARTY PARTNER COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, AS PART OF THE CREDIT ACTION PLAN. READ MORE HERE ABOUT HOW CW-3 DEPLOYS THREE MAINSTREAM FINANCIAL PRODUCTS TO BUILD A BETTER CREDIT PROFILE AND HELP individuals SAVE MONEY.CREDIT CHECK EVERY SIX MONTHS FOR 12 MONTHSWorking Credit counselors pull a new credit report and score for individuals every six months for eighteen months. Counselors then share this information with individuals, lifting up successes in credit building and reinforcing lessons about the creditsystem.TARGETED CONSUMER EDUCATIONAs soon as an employee reaches a threshold credit score (usually 660), a WorkingCredit counselor reaches out to the participant with relevant consumer information.For example, an employee whos been paying inflated car insurance premiums because of poor credit will be prompted by the counselor to negotiate a lower premium as soon as the score gets above 660. The counselor will also send information about what rates and terms to expect, given the new score.
Expenses $1,164,267 · Revenue $263,081
As filed on the 2022 return.
Listed in Part VII
-
Sarah Chenven
Co-CEO
- Total calculated
- $113,577
- From this org
- $113,577
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Erica Lowitz
Founder/ Co-Ceo
- Total calculated
- $76,402
- From this org
- $76,402
- 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
-
George Wright
Director
- Total calculated
- $0
- Hours/week
- 2
-
Toby Herr
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
- 2022
- Filed
- 20 June 2023
- IRS schema version
- 2022v5.0
- Source object
- 202321719349300247
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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