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← Moneythink

Form 990 for tax year 2022

Filed by Moneythink.

Totals

Total revenue
$1,996,587
Total expenses
$2,286,220
Contributions and grants received
$1,996,489
Grants paid
$0
Program service revenue
$0
Investment income
$98
Other revenue
$0
Total assets, end of year
$1,525,712
Total liabilities, end of year
$542,939
Net assets or fund balances, end of year
$982,773
Program services expenses (Part IX)
$1,916,275
Management and general expenses
$151,210
Fundraising expenses
$218,735
Program service expenses (Part III)
$1,916,275

Program services were 83.8% 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)

    $135,125

  • 1f · All other contributions, gifts and grants

    $1,861,364

  • 3 · Investment income

    total $98 · excluded $98

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $243,067 · program services $201,952 · management and general $9,085 · fundraising $32,030

  • 7 · Other salaries and wages

    total $1,000,090 · program services $830,925 · management and general $37,380 · fundraising $131,785

  • 8 · Pension plan contributions

    total $29,036 · program services $24,097 · management and general $1,262 · fundraising $3,677

  • 9 · Other employee benefits

    total $82,007 · program services $68,058 · management and general $3,567 · fundraising $10,382

  • 10 · Payroll taxes

    total $91,345 · program services $75,719 · management and general $3,417 · fundraising $12,209

  • 11b · Fees: legal

    total $4,182 · management and general $4,182

  • 11c · Fees: accounting

    total $35,381 · management and general $35,381

  • 11g · Fees: other

    total $461,331 · program services $433,450 · management and general $20,308 · fundraising $7,573

  • 12 · Advertising and promotion

    total $29,621 · program services $29,267 · management and general $104 · fundraising $250

  • 13 · Office expenses

    total $4,519 · program services $372 · management and general $3,683 · fundraising $464

  • 14 · Information technology

    total $57,558 · program services $38,394 · management and general $4,724 · fundraising $14,440

  • 16 · Occupancy

    total $7,516 · program services $308 · management and general $7,195 · fundraising $13

  • 17 · Travel

    total $19,634 · program services $15,587 · management and general $246 · fundraising $3,801

  • 19 · Conferences, conventions and meetings

    total $12,023 · program services $11,395 · management and general $214 · fundraising $414

  • 20 · Interest

    total $17,000 · management and general $17,000

  • 22 · Depreciation, depletion and amortization

    total $181,395 · program services $180,300 · management and general $292 · fundraising $803

  • 23 · Insurance

    total $10,515 · program services $6,451 · management and general $3,170 · fundraising $894

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,023,270 · end of year $654,372

  • 2 · Savings and temporary cash investments

    beginning of year $500,464 · end of year $500,563

  • 3 · Pledges and grants receivable

    beginning of year $884,624

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,484 · end of year $5,930

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

    $655,255

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

    $290,408

  • 10c · Land, buildings and equipment, net

    beginning of year $381,788 · end of year $364,847

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,475 · end of year $42,939

  • 25 · Other liabilities

    beginning of year $635,125 · end of year $500,000

  • 27 · Net assets without donor restrictions

    beginning of year $255,406 · end of year -$90,258

  • 28 · Net assets with donor restrictions

    beginning of year $1,881,624 · end of year $1,073,031

Mission and programs · 2022

Mission

Moneythink empowers college bound students, particularly institutionally underserved students, to achieve success by supporting financial decision-making through transparency and technology.

Activities or mission (Part I)

Financial education and peer mentorship to 11th and 12th graders

  • Moneythink helps promote economic equity by empowering students to make informed financial choices. With expertise built on years of experience collaborating with students, college advisors and high schools, Moneythink takes inventory of outcomes and feedback to guide students on their financial journeys. Our technology expands our ability to reduce student debt: offering students, families, and their advisors free guides and tools, like DecidED. DecidED is a web-based app that helps students learn about their college options and compare the affordability of financial aid offers against other criteria, such as graduation rates. By providing clear and factual information, DecidED encourages students to enroll at affordable schools where they have the greatest chance of graduating with the least amount of debt. DecidED is free and was designed with the needs of institutionally underserved students and their existing support systems in mind. Once students see their choices and clearly understand their associated costs, they can achieve success at all stages and more directly shape their futures.

    Expenses $1,916,275

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gregory Nance

    Chairman

    Total calculated
    $0
    Hours/week
    6

  • Leigh Phillips

    Director

    Total calculated
    $0
    Hours/week
    5

  • Matt Taylor

    Director

    Total calculated
    $0
    Hours/week
    5

  • Patrice Berry

    Secretary

    Total calculated
    $0
    Hours/week
    6

  • Gary Pelissier

    Treasurer

    Total calculated
    $0
    Hours/week
    6

  • R Jerry Nemorin

    Director

    Total calculated
    $0
    Hours/week
    5

  • Meera Iyer

    Director

    Total calculated
    $0
    Hours/week
    5

  • Joshua Lachs

    CEO

    Total calculated
    $243,067
    From this org
    $228,444
    From related orgs
    $0
    Other
    $14,623
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,444
    Bonus
    $0
    Other
    $0
    Deferred
    $3,712
    Nontaxable benefits
    $10,911
    Filer's total
    $243,067

  • Sara O'Hearn

    VP of Product

    Total calculated
    $187,339
    From this org
    $169,543
    From related orgs
    $0
    Other
    $17,796
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,543
    Bonus
    $0
    Other
    $0
    Deferred
    $4,870
    Nontaxable benefits
    $12,926
    Filer's total
    $187,339

  • Alexandra Shiluk

    VP of Operations

    Total calculated
    $125,449
    From this org
    $114,396
    From related orgs
    $0
    Other
    $11,053
    Hours/week
    40

  • Benjamin May

    API Product Manager

    Total calculated
    $113,443
    From this org
    $101,407
    From related orgs
    $0
    Other
    $12,036
    Hours/week
    40

  • Hannah Smith

    VP of Partnerships

    Total calculated
    $134,780
    From this org
    $117,220
    From related orgs
    $0
    Other
    $17,560
    Hours/week
    40

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 · Written employment contract
  • 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
20 July 2023
IRS schema version
2022v5.0
Source object
202342019349300214

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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