Neighborhood Trust Financial Partners Inc
- Assets
- $11.1m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 53
- Location
- New York, NY
- Founding
- 02/1996
- Data as of
- 12/2023
- EIN
- 13-3849263
Organization Overview
Neighborhood Trust Financial Partners Inc is located in New York, NY. The organization was established in 1996. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Neighborhood Trust Financial Partners Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Trust Financial Partners Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Neighborhood Trust Financial Partners Inc generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $7.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERING LOW-INCOME INDIVIDUALS TO ACHIEVE THEIR FINANCIAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD TRUST FINANCIAL PARTNERS IS A NATIONAL, LEADING PROVIDER OF FINANCIAL EMPOWERMENT SERVICES FOR LOW-INCOME WORKERS. IN 2023, WE HELPED OVER 7,000 INDIVIDUALS TAKE CONTROL OF THEIR FINANCES, EMPOWERING THEM TO REDUCE AND PAY OFF DEBT, BUILD SAVINGS, IMPROVE CREDIT, AND WORK TOWARDS OTHER FINANCIAL GOALS. WE ARE COMMITTED TO ACHIEVING A SUSTAINABLE OPERATION VIA EARNED REVENUE FROM A PORTFOLIO OF CUSTOMERS, SO THAT PHILANTHROPY IS LEVERAGED TOWARDS INNOVATION, IMPACT, AND INFORMING THE FINANCIAL SERVICES FIELD.THROUGH TRUSTPLUS AND PATHWAYS, OUR TWO MAIN PROGRAM SERVICES, WE DELIVER OUR PROPRIETARY FINANCIAL COACHING + PRODUCT MODEL VIA THE WORKPLACE AND FINANCIAL INSTITUTIONS ACROSS THE COUNTRY. TRUSTPLUS IS OUR WORKER FINANCIAL HEALTH BENEFIT THAT BLENDS HUMAN-TOUCH FINANCIAL COACHING WITH FINANCIAL PRODUCTS AND WORKPLACE BENEFITS, SO THAT WORKERS CAN MAKE THE MOST OF EVERY HARD-EARNED PAYCHECK. OUR TECH-ENABLED SOLUTION ALLOWS US TO REACH WORKERS ACROSS THE COUNTRY AND OFFER LIVE FINANCIAL COACHING "ANYTIME, ANYWHERE." AS A SOCIAL ENTERPRISE, WE PARTNER WITH SMALL BUSINESSES, BENEFITS NETWORKS, FINTECHS AND WORKER AS CUSTOMERS. OUR PATHWAYS SERVICE FOSTERS FINANCIAL INCLUSION FOR UNDERSERVED COMMUNITIES BY INTEGRATING FINANCIAL COACHING INTO CREDIT UNIONS NATIONWIDE. IN PARTNERSHIP WITH CREDIT UNION ADVOCACY NETWORK, INCLUSIV, PATHWAYS TRAINS CREDIT UNION STAFF TO PROVIDE OUR MODEL OF TRUSTED, ACTION-ORIENTED FINANCIAL COACHING TO ITS MEMBERS, AND TRACK THEIR FINANCIAL HEALTH OUTCOMES VIA OUR PROPRIETARY TECHNOLOGY PLATFORM. UNDER OUR CONTRACT WITH THE NEW YORK CITY DEPARTMENT OF CONSUMER & WORKER PROTECTION, WE PROVIDE FINANCIAL COACHING TO NEW YORK CITY RESIDENTS VIA SEVEN FINANCIAL EMPOWERMENT CENTER SITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justine Zinkin CEO | OfficerTrustee | 40 | $204,528 |
Aliah Greene Chair | OfficerTrustee | 2 | $0 |
Franco M Baseggio Vice Chair | OfficerTrustee | 2 | $0 |
Matthew Rhodes-Kropf Treasurer | OfficerTrustee | 2 | $0 |
Chauncy Lennon Secretary | OfficerTrustee | 2 | $0 |
Sebastian Ceria Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $821,451 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,131,033 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,952,484 |
| Total Program Service Revenue | $446,296 |
| Investment income | $118,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,517,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,360 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $354,055 |
| Compensation of current officers, directors, key employees. | $166,912 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,543,819 |
| Pension plan accruals and contributions | $39,644 |
| Other employee benefits | $471,747 |
| Payroll taxes | $347,438 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $642,581 |
| Advertising and promotion | $0 |
| Office expenses | $16,278 |
| Information technology | $417,851 |
| Royalties | $0 |
| Occupancy | $406,525 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,433 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $674,870 |
| Insurance | $36,338 |
| All other expenses | $5,707 |
| Total functional expenses | $7,139,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,763,414 |
| Savings and temporary cash investments | $1,217,777 |
| Pledges and grants receivable | $2,826,198 |
| Accounts receivable, net | $702,539 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,072 |
| Net Land, buildings, and equipment | $1,346,145 |
| Investments—publicly traded securities | $2,184,917 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000,714 |
| Total assets | $11,078,776 |
| Accounts payable and accrued expenses | $209,767 |
| Grants payable | $0 |
| Deferred revenue | $50,050 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,254,632 |
| Total liabilities | $1,514,449 |
| Net assets without donor restrictions | $6,783,597 |
| Net assets with donor restrictions | $2,780,730 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,078,776 |
Grants Awarded
Over the last fiscal year, Neighborhood Trust Financial Partners Inc has awarded $351,860 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
EARN INC DBA SAVERLIFE PURPOSE: PassthroughEmergency grants for ind | $33,500 |
NEIGHBORHOOD TR CREDIT UNION PURPOSE: Contribution | $18,360 |
NEIGHBORHOOD TR CREDIT UNION PURPOSE: Support mission | $300,000 |