Financial Beginnings
- Assets
- $67.2k
- Revenue
- $739.5k
- Investments
- $0.0
- Employees
- 10
- Location
- Portland, OR
- Founding
- 10/2006
- Data as of
- 06/2022
- 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 06/2022, Financial Beginnings employed 10 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 06/2022, Financial Beginnings generated $739.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $958.2k during the year ending 06/2022. While expenses have increased by 7.2% 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
2022
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 FINANCIAL EDUCATION AND EMPOWERMENT OPPORTUNITIES. AS A NATIONAL NONPROFIT, FINANCIAL BEGINNINGS PROVIDES PROGRAMS TO LEARNERS ACROSS THE UNITED STATES. FINANCIAL BEGINNINGS ALSO HAS STATEWIDE INDEPENDENT, AFFILIATED NONPROFITS THAT PROVIDE FINANCIAL BEGINNINGS FINANCIAL EDUCATION PROGRAMMING IN OREGON AND WASHINGTON. CHAPTER AFFILIATES IN CALIFORNIA AND NEBRASKA OPERATE UNDER THE OVERSIGHT OF FINANCIAL BEGINNINGS USA. 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 LITERACYTHESE GOALS ARE 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. SINCE 2020, FINANCIAL BEGINNINGS HAS ALSO DEVELOPED ELEARNING PROGRAMMING TO COMPLEMENT IN-PERSON LESSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melody Bell CEO | Officer | 40 | $133,308 |
Timothy Christy COO | Officer | 40 | $100,395 |
James Chen Chief Adv Ofcr | Officer | 40 | $95,879 |
Casey Boggs Chair | OfficerTrustee | 2 | $0 |
Donald Bielen Treasurer | OfficerTrustee | 1 | $0 |
Michael Fisher Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $530,416 |
| Noncash contributions included in lines 1a–1f | $3,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $530,416 |
| Total Program Service Revenue | $209,068 |
| Investment income | $49 |
| 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 | $739,533 |
| 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. | $331,305 |
| Compensation of current officers, directors, key employees. | $10,078 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $251,083 |
| Pension plan accruals and contributions | $29,266 |
| Other employee benefits | $25,965 |
| Payroll taxes | $48,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,157 |
| Fees for services: Accounting | $34,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $112,086 |
| Advertising and promotion | $9,180 |
| Office expenses | $17,102 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,650 |
| Travel | $7,208 |
| 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 | $4,366 |
| All other expenses | $0 |
| Total functional expenses | $958,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,674 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,585 |
| 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 | $3,953 |
| Net Land, buildings, and equipment | $975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,187 |
| Accounts payable and accrued expenses | $3,037 |
| 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 | $67,720 |
| Total liabilities | $70,757 |
| Net assets without donor restrictions | -$3,570 |
| 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 | $67,187 |