Financial Beginnings
- Assets
- $300.0k
- Revenue
- $690.1k
- Investments
- $0.0
- Employees
- 11
- Location
- Portland, OR
- Founding
- 10/2006
- Data as of
- 06/2021
- EIN
- 20-3530960
Organization Overview
Financial Beginnings is located in Portland, OR. 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. As of 06/2021, Financial Beginnings employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Beginnings 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 06/2021, Financial Beginnings generated $690.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $920.9k during the year ending 06/2021. While expenses have increased by 7.7% per year over the past 6 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
FINANCIAL BEGINNINGS EMPOWERS YOUTH AND ADULTS TO TAKE CONTROL OF THEIR FINANCIAL FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL BEGINNINGS FULFILLS ITS MISSION BY PROVIDING NO-COST FINANCIAL EDUCATION PROGRAMMING. FINANCIAL BEGINNINGS IS A NATIONAL NONPROFIT THAT HAS STATEWIDE AFFILIATED NONPROFITS THAT PROVIDE FINANCIAL BEGINNINGS FINANCIAL EDUCATION PROGRAMMING. CURRENT INDEPENDENT AFFILAITES OPERATE IN OREGON AND WASHINGTON, CHAPTER AFFILAITES IN CALIFORNIA AND NEBRASKA, AND PROGRAMMING PROVIDED NATIONALLY. FINANCIAL BEGINNINGS INCREASES THE FINANCIAL CAPABILITY OF YOUTH AND ADULTS. DOING SO ALLOWS THEM TO LIVE WITH LESS FINANCIAL UNCERTAINTY, AND INCREASES LIFE OPPORTUNITIES SUCH AS HOME OWNERSHIP, HIGHER EDUCATION, AND SECURE RETIREMENT.FINANCIAL BEGINNINGS WORKS TO:- PROMOTE SELF-SUFFICIENCY BY TEACHING INDIVIDUALS HOW TO PROACTIVELY IMPROVE THEIR FINANCIAL HEALTH.- SUPPORT INDIVIDUALS IN ACCESSING AND PARTICIPATING IN FINANCIAL SERVICES.- PROVIDE AGE-APPROPRIATE FINANCIAL EDUCATION THAT MEETS OR EXCEEDS STATE-SPECIFIC STANDARDS.- ENHANCE FINANCIAL RESILIENCY AMONG UNDERSERVED POPULATIONS.- CREATE COMMUNITIES WITHIN WHICH THE NEED FOR FINANCIAL EDUCATION IS RECOGNIZED, AND ALL SECTORS WORK COLLABORATIVELY TOWARDS INCREASED FINANCIAL LITERACYTHIS IS ACCOMPLISHED THROUGH FINANCIAL BEGINNINGS MAIN PROGRAMS WHICH INCLUDE AGE-APPROPRIATE CURRICULA FOR YOUTH IN GRADES K-12 AS WELL AS PROGRAMMING FOR COLLEGE STUDENTS, AND ADULTS. PROGRAMS ARE PROVIDED IN PARTNERSHIP WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS, AND ARE ALWAYS OFFERED AT NO COST TO THE PARTICIPANT OR PARTNER. SINCE THE PANDEMIC, FINANCIAL BEGINNINGS HAS LAUNCHED ASYNCHRONOUS ELEARNING PROGRAMMING TO COMPLIMENT THE SYNCHRONOUS IN-PERSON PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melody Bell CEO | Officer | 40 | $137,870 |
Timothy Christy COO | Officer | 40 | $85,443 |
James Chen Chief Adv Ofcr | Officer | 40 | $84,483 |
Casey Boggs President | OfficerTrustee | 5 | $0 |
Heidi Sexton Secretary | OfficerTrustee | 1 | $0 |
Catherine Martin Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $201,687 |
| All other contributions, gifts, grants, and similar amounts not included above | $342,817 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $544,504 |
| Total Program Service Revenue | $145,207 |
| Investment income | $409 |
| 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 | $690,120 |
| 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. | $314,522 |
| Compensation of current officers, directors, key employees. | $11,584 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,491 |
| Pension plan accruals and contributions | $34,326 |
| Other employee benefits | $30,980 |
| Payroll taxes | $50,263 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,312 |
| Fees for services: Accounting | $5,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,597 |
| Advertising and promotion | $4,342 |
| Office expenses | $13,222 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,723 |
| Travel | $570 |
| 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 | $977 |
| Insurance | $3,799 |
| All other expenses | $0 |
| Total functional expenses | $920,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $33,000 |
| Accounts receivable, net | $7,595 |
| 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 | $9,634 |
| Net Land, buildings, and equipment | $1,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $300,011 |
| Accounts payable and accrued expenses | $16,634 |
| 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 | $68,322 |
| Total liabilities | $84,956 |
| Net assets without donor restrictions | $215,055 |
| Net assets with donor restrictions | $0 |
| 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 | $300,011 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Financial Beginnings has recieved totaling $119,449.
| Awarding Organization | Amount |
|---|---|
Oregon Community Foundation Portland, OR PURPOSE: K12 Education | $40,000 |
United Way Of The Midlands Omaha, NE PURPOSE: DEI | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $15,200 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $14,056 |
Unitus Community Credit Union Portland, OR PURPOSE: GENERAL SUPPORT | $10,100 |
Walters Family Foundation Santa Barbara, CA PURPOSE: IN FURTHERANCE OF 501(C)(3) EXEMPT PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA | $9,996,299 | $17,336,495 |
Share & Care House Puyallup, WA | $11,945,514 | $10,826,459 |
Springboard Non-Profit Consumer Credit Management Inc Riverside, CA | $8,795,796 | $5,993,379 |
Usa Homeownership Foundation Inc Corona, CA | $3,434,411 | $5,441,843 |
North Seattle Community College Foundation Seattle, WA | $11,054,287 | $7,124,485 |
Debtwave Credit Counseling Inc Escondido, CA | $1,629,187 | $5,189,974 |
Access Counseling Inc Los Angeles, CA | $878,879 | $2,910,345 |
Debt Reduction Services Inc Boise, ID | $2,051,232 | $3,505,224 |
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 |