Community Financial Resources
- Assets
- $4.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Oakland, CA
- Founding
- 09/2006
- Data as of
- 12/2023
- EIN
- 20-3788598
Organization Overview
Community Financial Resources is located in Oakland, CA. The organization was established in 2006. According to its NTEE Classification (W05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Community Financial Resources employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Financial Resources 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, Community Financial Resources generated $1.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. While expenses have increased by 8.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CFR PROVIDES RESEARCH, EDUCATION, PROGRAM DEVELOPMENT AND TECHNICAL ASSISTANCE FOR NON-PROFIT ORGANIZATIONS AND THEIR LOW-INCOME CONSTITUENTS ON FINANCIAL LITERACY, MONEY MANAGEMENT, AND ACCESSING AND EFFECTIVELY USING LOW-COST FINANCIAL PRODUCTS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: COMMUNITY FINANCIAL RESOURCES (CFR) PROVIDES PATHWAYS TO FINANCIAL WELL-BEING AND ECONOMIC JUSTICE WITH SAFE AND RELIABLE FINANCIAL PRODUCTS FOR LOW-WEALTH COMMUNITIES. CFR ACCELERATED OUR EFFORTS IN 2023 TO ACHIEVE THE FOLLOWING MILESTONES: EMPOWERED 3,630 LOW-INCOME, LOW-WEALTH PARTICIPANTS TO OPEN BANK ACCOUNTS; OVER $26 MILLION DEPOSITED ON MORE THAN 8,900 ACCOUNTS; LAUNCHED A DIRECT-TO-CONSUMER VERSION OF MONEYGOALS, INTRODUCING ROSIE THE VIRTUAL COACH; AND MADE SIGNIFICANT INVESTMENTS IN CFRS TECHNICAL CAPABILITIES AND INFRASTRUCTURE, AS WELL AS HIRING NEW STAFF POSITIONS.
GUARANTEED INCOME: CFR PARTNERED WITH 24 GUARANTEED INCOME PROGRAMS NATIONWIDE, PROCESSING OVER $8.6 MILLION TO 1,381 PARTICIPANTS, BENEFITING A DIVERSE ARRAY OF POPULATIONS, INCLUDING FIRST-TIME MOMS, HIGH SCHOOL STUDENTS, FOSTER YOUTH, ARTISTS, REFUGEES ESCAPING DOMESTIC VIOLENCE, BLACK YOUTH, RETURNING CITIZENS, SENIORS, AND FAMILIES WITH YOUNG CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parisa Esmaili Executive Dir. | OfficerTrustee | 40 | $139,913 |
Carol Iascone Director Of Ops | 40 | $103,887 | |
Cynthini West CFO | Officer | 40 | $50,400 |
Beadsie Woo President | OfficerTrustee | 1 | $0 |
Kendall Baker Sec/treasurer | OfficerTrustee | 1 | $0 |
David Derryck President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $145,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,630 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $645,630 |
| Total Program Service Revenue | $357,047 |
| Investment income | $12,808 |
| 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 | $1,015,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,000 |
| Grants and other assistance to domestic individuals. | $8,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,313 |
| Compensation of current officers, directors, key employees. | $62,992 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $474,145 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,366 |
| Payroll taxes | $43,494 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $33,187 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,725 |
| Advertising and promotion | $0 |
| Office expenses | $38,733 |
| Information technology | $15,278 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,400 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,418 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,993 |
| Insurance | $8,947 |
| All other expenses | $0 |
| Total functional expenses | $1,026,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $829,684 |
| Savings and temporary cash investments | $2,930,438 |
| Pledges and grants receivable | $26,000 |
| Accounts receivable, net | $84,733 |
| 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 | $3,250 |
| Net Land, buildings, and equipment | $180,723 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,054,828 |
| Accounts payable and accrued expenses | $52,747 |
| Grants payable | $2,186,463 |
| Deferred revenue | $182,855 |
| 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 | $0 |
| Total liabilities | $2,422,065 |
| Net assets without donor restrictions | $1,224,780 |
| Net assets with donor restrictions | $407,983 |
| 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 | $4,054,828 |
Grants Awarded
Over the last fiscal year, Community Financial Resources has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL URBAN LEAGUE INC PURPOSE: Partner Stipend - JPMC Grant | $14,000 |
PUBLIC DEMOCRACY PURPOSE: Better Angels Subscription | $6,000 |