Center For Financial Empowerment
- Assets
- $292.2k
- Revenue
- $351.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Irwindale, CA
- Founding
- 08/2006
- Data as of
- 12/2021
- EIN
- 20-2843303
Organization Overview
Center For Financial Empowerment is located in Irwindale, CA. The organization was established in 2006. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Financial Empowerment 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 12/2021, Center For Financial Empowerment generated $351.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $297.2k during the year ending 12/2021. While expenses have increased by 25.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O SECTION 509(A)(2)
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL LITERACY WORKSHOPS AND INTERACTIVE EVENTS FOR 1,461 UNDERSERVED HIGH SCHOOL YOUTH. CLASSES ON BASIC BUDGETING, SAVINGS, AND CREDIT MANAGEMENT.
SECTION 509(A)2
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Kenji Coleman Director | OfficerTrustee | 1 | $0 |
Kathleen Cardenas Director | OfficerTrustee | 1 | $0 |
Daniel Rader Treasurer | OfficerTrustee | 1 | $0 |
Luis Cruz Director | Trustee | 1 | $0 |
Tim Ferreira Chairman | Trustee | 1 | $0 |
Pascual Garrido Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $43,215 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $305,512 |
| Noncash contributions included in lines 1a–1f | $180,951 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $348,727 |
| Total Program Service Revenue | $0 |
| Investment income | $2,655 |
| 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 | $351,382 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $188,580 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,500 |
| Fees for services: Accounting | $3,791 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,041 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,450 |
| Advertising and promotion | $33,779 |
| Office expenses | $1,674 |
| Information technology | $2,325 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,234 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $735 |
| All other expenses | $216 |
| Total functional expenses | $297,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,689 |
| Savings and temporary cash investments | $108,520 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $292,209 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $46,599 |
| Total liabilities | $46,599 |
| Net assets without donor restrictions | $243,110 |
| Net assets with donor restrictions | $2,500 |
| 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 | $292,209 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Center For Financial Empowerment has recieved totaling $20,340.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $10,340 |
Pharmaceutical Research And Manufacturers Of America Washington, DC PURPOSE: General Contribution | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Money Management International Inc Phoenix, AZ | $55,363,723 | $38,595,180 |
Consumer Credit Counseling Service Of San Francisco Concord, CA | $9,996,299 | $17,336,495 |
Springboard Non-Profit Consumer Credit Management Inc Riverside, CA | $8,795,796 | $5,993,379 |
Take Charge America Inc Phoenix, AZ | $22,881,953 | $7,255,476 |
Usa Homeownership Foundation Inc Corona, CA | $3,434,411 | $5,441,843 |
Debtwave Credit Counseling Inc Escondido, CA | $1,629,187 | $5,189,974 |
Access Counseling Inc Los Angeles, CA | $878,879 | $2,910,345 |
Earn To Learn Tucson, AZ | $1,535,362 | $2,450,878 |
Christian Credit Counselors Inc Carlsbad, CA | $6,458,952 | $2,790,959 |
Abacus Credit Counseling Encino, CA | $7,151,653 | $2,039,579 |
Cricket Debt Counseling Portland, OR | $3,870,920 | $1,652,866 |
National Budget Planners Of South Florida Inc Livermore, CA | $1,611,064 | $2,018,775 |