Totals
- Total revenue
- $9,021,043
- Total expenses
- $20,000,045
- Contributions and grants received
- $7,517,022
- Grants paid
- $9,533,865
- Program service revenue
- $253,353
- Investment income
- $1,250,668
- Other revenue
- $0
- Total assets, end of year
- $43,085,680
- Total liabilities, end of year
- $4,321,761
- Net assets or fund balances, end of year
- $38,763,919
- Program services expenses (Part IX)
- $18,468,120
- Management and general expenses
- $947,809
- Fundraising expenses
- $584,116
- Program service expenses (Part III)
- $18,468,120
Program services were 92.3% 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)
$2,542,844
-
1f · All other contributions, gifts and grants
$4,974,178
-
1g · Noncash contributions included above
$392
-
2a · Program service revenue: PROGRAM SERVICE & LICENSE FEES
total $183,625 · related or exempt $183,625
-
2b · Program service revenue: CONFERENCE, SEMINARS, & OTHER
total $69,728 · related or exempt $69,728
-
3 · Investment income
total $1,294,917 · excluded $1,294,917
-
7a · Gross sales of assets other than inventory
securities $14,452,710
-
7b · Less cost or other basis and sales expenses
securities $14,496,959
-
7c · Gain or loss
securities -$44,249
-
7d · Net gain or loss
total -$44,249 · excluded -$44,249
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $9,533,865 · program services $9,533,865
-
5 · Compensation of officers, directors and key employees
total $758,734 · program services $650,460 · management and general $59,145 · fundraising $49,129
-
7 · Other salaries and wages
total $4,688,070 · program services $4,023,386 · management and general $356,063 · fundraising $308,621
-
8 · Pension plan contributions
total $234,985 · program services $202,011 · management and general $17,712 · fundraising $15,262
-
9 · Other employee benefits
total $506,792 · program services $424,938 · management and general $52,775 · fundraising $29,079
-
10 · Payroll taxes
total $413,702 · program services $359,325 · management and general $28,964 · fundraising $25,413
-
11b · Fees: legal
total $7,443 · management and general $7,443
-
11c · Fees: accounting
total $61,675 · management and general $61,675
-
11f · Fees: investment management
total $76,741 · management and general $76,741
-
11g · Fees: other
total $415,848 · program services $241,635 · management and general $121,297 · fundraising $52,916
-
12 · Advertising and promotion
total $6,779 · program services $6,582 · fundraising $197
-
13 · Office expenses
total $279,393 · program services $233,727 · management and general $24,220 · fundraising $21,446
-
14 · Information technology
total $1,338,314 · program services $1,326,977 · management and general $6,200 · fundraising $5,137
-
16 · Occupancy
total $191,971 · program services $170,740 · management and general $12,201 · fundraising $9,030
-
17 · Travel
total $102,241 · program services $74,790 · management and general $19,248 · fundraising $8,203
-
19 · Conferences, conventions and meetings
total $206,964 · program services $198,043 · management and general $4,864 · fundraising $4,057
-
20 · Interest
total $15,000 · program services $15,000
-
22 · Depreciation, depletion and amortization
total $73,636 · program services $70,062 · management and general $1,951 · fundraising $1,623
-
23 · Insurance
total $32,636 · management and general $32,636
-
24a · Other expenses: DUES, LICENSES, & FEES
total $866,882 · program services $749,826 · management and general $63,429 · fundraising $53,627
-
24b · Other expenses: SURVEY INCENTIVES
total $96,980 · program services $96,157 · management and general $451 · fundraising $372
-
24c · Other expenses: BAD DEBT EXPENSE
total $90,542 · program services $90,542
-
24e · All other expenses
total $852 · program services $54 · management and general $794 · fundraising $4
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,778,407 · end of year $5,238,461
-
2 · Savings and temporary cash investments
beginning of year $10,830,532 · end of year $1,851,557
-
3 · Pledges and grants receivable
beginning of year $604,579 · end of year $764,236
-
4 · Accounts receivable
beginning of year $66,929 · end of year $71,305
-
7 · Other notes and loans receivable
beginning of year $3,750 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $265,968 · end of year $333,986
-
10a · Land, buildings and equipment: cost or other basis
$234,775
-
10b · Land, buildings and equipment: accumulated depreciation
$166,869
-
10c · Land, buildings and equipment, net
beginning of year $64,113 · end of year $67,906
-
11 · Investments: publicly traded securities
beginning of year $37,315,067 · end of year $33,357,726
-
13 · Investments: program-related
beginning of year $433,286 · end of year $667,542
-
14 · Intangible assets
beginning of year $145,459 · end of year $275,962
-
15 · Other assets
beginning of year $15,000 · end of year $456,999
-
17 · Accounts payable and accrued expenses
beginning of year $531,274 · end of year $672,961
-
19 · Deferred revenue
beginning of year $1,817,942 · end of year $2,515,014
-
24 · Unsecured notes and loans payable
beginning of year $540,000 · end of year $520,000
-
25 · Other liabilities
beginning of year $154,575 · end of year $613,786
-
27 · Net assets without donor restrictions
beginning of year $45,703,900 · end of year $33,190,427
-
28 · Net assets with donor restrictions
beginning of year $5,775,399 · end of year $5,573,492
Mission and programs · 2022
Mission
TO HELP PEOPLE BECOME VISIBLE, ACTIVE, AND SUCCESSFUL IN THEIR FINANCIAL LIVES.
Activities or mission (Part I)
HELPING IMMIGRANTS AND LOW-INCOME INDIVIDUALS TO IMPROVE THEIR FINANCIAL CAPABILITIES ACROSS THE UNITED STATES.
-
EMERGENCY GRANTS - IN 2020, THE ORGANIZATION CREATED THE COVID-19 RAPID RESPONSE FUND, A NATIONWIDE FINANCIAL RELIEF FUND TO PROVIDE DIRECT CASH ASSISTANCE TO LOW WAGE WORKERS, CALIFORNIA PUBLIC COLLEGE STUDENTS, AND IMMIGRANT FAMILIES EXCLUDED FROM FEDERAL SUPPORT. RATHER THAN DISBURSING GRANTS THROUGH A FIRST-COME, FIRST-SERVED BASIS OR LOTTERY SYSTEMS--APPROACHES THAT FURTHER INEQUALITY BY PREFERENCING THOSE WITH THE BEST RESOURCES, ACCESS, OR LUCK--THE ORGANIZATION DEVELOPED A FINANCIAL EQUITY FRAMEWORK TO DIRECT RESOURCES TO APPLICANTS FACING THE GREATEST FINANCIAL HARDSHIP. OVER THE COURSE OF 18 MONTHS, THE ORGANIZATION DISBURSED MORE THAN 65,000 GRANTS TOTALING $40M IN DIRECT RELIEF. BEYOND GRANTS, THE ORGANIZATION ALSO ESTABLISHED RESOURCES FINDER, A NEW ONLINE TOOL TO MATCH PEOPLE WITH RELEVANT RESOURCES THAT THEY MAY BE ELIGIBLE FOR.
Expenses $9,533,865 · Grants $9,533,865
-
RECOVERY PROGRAM - TO SUPPORT PEOPLE IN THE TRANSITION FROM EMERGENCY RELIEF TO LONG-TERM RECOVERY, MAF LAUNCHED AN UNPARALLELED INITIATIVE SUPPORTING THE FINANCIAL RECOVERY OF IMMIGRANT FAMILIES EXCLUDED FROM FEDERAL COVID-19 RELIEF. THE ORGANIZATION'S IMMIGRANT FAMILIES RECOVERY PROGRAM, LAUNCHED AT THE END OF 2021, IS A $30M FUND TO PROVIDE A $400 GUARANTEED MONTHLY INCOME FOR UP TO 24 MONTHS TO 3,000 IMMIGRANT FAMILIES. GOING BEYOND CASH SUPPORT, THE PROGRAM PAIRS MONTHLY PAYMENTS WITH ACCESS TO THE ORGANIZATION'S CREDIT BUILDING PRODUCTS, FINANCIAL EDUCATION COURSES, ONE-ON-ONE COACHING, AND SELF-ADVOCACY TRAINING TO HELP PARTICIPANTS REBUILD AND RECOVER FASTER.
Expenses $4,554,269
-
IMMIGRATION LOANS - IN 2017, THE ORGANIZATION EXPANDED THE PORTFOLIO OF PROGRAMS TO INCLUDE A ZERO-INTEREST IMMIGRATION LOAN PROGRAM AND SCHOLARSHIPS TO HELP INDIVIDUALS COVER THE COST OF CITIZENSHIP APPLICATIONS, DEFERRED ACTION FOR CHILDHOOD ARRIVALS (DACA), GREEN CARD AND OTHER IMMIGRATION RELATED FEES. IN 2021, AGAINST THE BACKDROP OF THE COVID-19 PANDEMIC, NUMEROUS CHANGES IN IMMIGRATION POLICY PUT IMMIGRANT HOUSEHOLDS' FUTURE AND FINANCES UNDER IMMENSE STRAIN. THE ORGANIZATION EXPANDED ITS IMMIGRATION PROGRAM OFFERINGS, PROVIDING A SLIDING SCALE OF CREDIT-BUILDING LOANS, PARTIAL, AND FULL GRANTS TO COVER THE COST OF SEVEN USCIS APPLICATION FEES, INCLUDING HUMANITARIAN PAROLE FOR AFGHAN REFUGEES. IN LINE WITH THE COVID-RELATED CHANGES TO THE LENDING CIRCLES PROGRAM, THE ORGANIZATION EXTENDED ALL LOAN FLEXIBILITY OPTIONS TO APPLY TO ALL IMMIGRATION LOANS.
Expenses $1,998,953
-
LENDING CIRCLES - IN 2008, THE ORGANIZATION LAUNCHED THE LENDING CIRCLES SOCIAL LOAN PROGRAM, INTRODUCING A NEW STRATEGY ROOTED IN THE GLOBAL TRADITION OF GROUP LENDING THAT ENABLES LOW-INCOME FAMILIES TO BUILD CREDIT, REDUCE DEBT, AND IMPROVE THEIR FINANCIAL SECURITY. IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION TEMPORARILY EMBEDDED GREATER FLEXIBILITY IN THE LENDING CIRCLES PROGRAM TO HELP CLIENTS WEATHER FINANCIAL CHALLENGES, INCLUDING OPTIONS TO IMPLEMENT A 3-MONTH LOAN FORBEARANCE, PUT A ONE-MONTH HOLD ON PAYMENTS, OR RESTRUCTURE LOAN PAYMENTS. IN PARTNERSHIP WITH A NATIONWIDE NETWORK OF NONPROFITS, THE ORGANIZATION PROVIDES LENDING CIRCLES THROUGH BOTH DIRECT PROGRAMS IN CALIFORNIA AND NATIONWIDE. PAIRED WITH TIMELY, ACTIONABLE, AND CULTURALLY-RELEVANT FINANCIAL EDUCATION, THE LENDING CIRCLES PROGRAM HAS BEEN WIDELY ACCLAIMED FOR ITS IMPACT, HELPING THOUSANDS OF PARTICIPANTS ACCESS SAFE AND AFFORDABLE CAPITAL, BUILD CREDIT, AND ESTABLISH A FOOTHOLD IN THE U.S. MAINSTREAM FINANCIAL SYSTEM.BUSINESS MICROLOANS - IN 2012, THE ORGANIZATION BUILT ON THE SUCCESSFUL LENDING CIRCLES MODEL TO PROVIDE ZERO-INTEREST, CREDIT-BUILDING CAPITAL TO ENTREPRENEURS AND MICRO-BUSINESS OWNERS IN CALIFORNIA'S BAY AREA. THROUGH LENDING CIRCLES FOR BUSINESS, PRIOR LENDING CIRCLES CLIENTS RECEIVED BUSINESS-SPECIFIC TECHNICAL ASSISTANCE, FINANCIAL COACHING, AND DIRECT LOANS OF UP TO $2,500 TO INVEST IN THEIR BUSINESS. IN 2021, THE ORGANIZATION RESTRUCTURED THE PROGRAM TO MEET THE NEEDS OF A GROWING COMMUNITY OF ENTREPRENEURS NAVIGATING THE COVID-19 PANDEMIC THROUGH NEW BUSINESS CREATION. THE ORGANIZATION'S REVAMPED BUSINESS MICROLOAN PROGRAM SERVES CLIENTS ACROSS THE STATE OF CALIFORNIA WITH NO REQUIREMENTS ON PRIOR PROGRAM PARTICIPATION. IN ADDITION, THE ORGANIZATION EXPANDED OFFERINGS THROUGH MYMAF, AN IN-HOUSE MOBILE APPLICATION WHERE USERS ARE ACCESSING PATHWAYS TO FINANCIAL EMPOWERMENT THROUGH A VAST DIGITAL FINANCIAL EDUCATION AND COACHING LIBRARY.
Expenses $2,381,033 · Revenue $253,353
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jose QuinonezJOSE QUINONEZ
FOUNDER & CEO
- Total calculated
- $296,724
- From this org
- $250,000
- From related orgs
- $0
- Other
- $46,724
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $250,000
- Bonus
- $0
- Other
- $0
- Deferred
- $8,131
- Nontaxable benefits
- $38,593
- Filer's total
- $296,724
-
Daniela SalasDANIELA SALAS
CO-FOUNDER & COO
- Total calculated
- $282,385
- From this org
- $233,375
- From related orgs
- $0
- Other
- $49,010
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $233,375
- Bonus
- $0
- Other
- $0
- Deferred
- $13,600
- Nontaxable benefits
- $35,410
- Filer's total
- $282,385
-
Biniam HaileBINIAM HAILE
FINANCE DIRECTOR
- Total calculated
- $179,625
- From this org
- $149,967
- From related orgs
- $0
- Other
- $29,658
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,967
- Bonus
- $0
- Other
- $0
- Deferred
- $8,991
- Nontaxable benefits
- $20,667
- Filer's total
- $179,625
-
Jennifer BrooksJENNIFER BROOKS
NURTURE CEO
- Total calculated
- $162,217
- From this org
- $153,561
- From related orgs
- $0
- Other
- $8,656
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,561
- Bonus
- $0
- Other
- $0
- Deferred
- $7,739
- Nontaxable benefits
- $917
- Filer's total
- $162,217
-
Joanna Cortez HernandezJOANNA CORTEZ HERNANDEZ
ADVOCACY & ENGAGEMENT DIRECTOR
- Total calculated
- $150,083
- From this org
- $132,614
- From related orgs
- $0
- Other
- $17,469
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $132,614
- Bonus
- $0
- Other
- $0
- Deferred
- $7,646
- Nontaxable benefits
- $9,823
- Filer's total
- $150,083
-
Elena FairleyELENA FAIRLEY
DIRECTOR OF PROGRAMS
- Total calculated
- $149,538
- From this org
- $125,525
- From related orgs
- $0
- Other
- $24,013
- Hours/week
- 40
-
Doris VasquezDORIS VASQUEZ
SENIOR CLIENT SUCCESS MANAGER
- Total calculated
- $144,192
- From this org
- $117,334
- From related orgs
- $0
- Other
- $26,858
- Hours/week
- 40
-
Emily BurchfieldEMILY BURCHFIELD
DIRECTOR OF HR & OPERATIONS
- Total calculated
- $141,320
- From this org
- $129,664
- From related orgs
- $0
- Other
- $11,656
- Hours/week
- 40
-
Dave KrimmDAVE KRIMM
BOARD PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Irons SeemELIZABETH IRONS SEEM
BOARD VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Stephan WaldstromSTEPHAN WALDSTROM
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Sagar ShahSAGAR SHAH
BOARD TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Laura ArceLAURA ARCE
BOARD MEMBER THROUGH 6/2022
- Total calculated
- $0
- Hours/week
- 1
-
Jorge BlandonJORGE BLANDON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Monica IssarMONICA ISSAR
BOARD MEMBER START 12/2022
- Total calculated
- $0
- Hours/week
- 1
-
Jessica LeggettJESSICA LEGGETT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Aquilina SorianoAQUILINA SORIANO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Salvador TorresSALVADOR TORRES
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312069349300946
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