Snap Financial Access
- Assets
- $13.0m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Spokane, WA
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 37-1502691
Organization Overview
Snap Financial Access is located in Spokane, WA. The organization was established in 2007. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Snap Financial Access 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, Snap Financial Access generated $5.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 8.9% 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
TO WORK FOR LOW INCOME AND VULNERABLE PEOPLE BY PROVIDING FINANCIAL SERVICES AND ECONOMIC OPPORTUNITIES IN A MANNER WHICH ENHANCES DIGNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SNAP FINANCIAL ACCESS - ASSISTED LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES TO INCREASE SELF SUFFICIENCY THROUGH ECONOMIC OPPORTUNITIES THAT PROMOTE FINANCIAL INDEPENDENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Nave Chair | OfficerTrustee | 3 | $0 |
Gayle Ekins Vice Chair | OfficerTrustee | 3 | $0 |
Tom Tremaine Secretary/treasurer | OfficerTrustee | 3 | $0 |
Julie Dhatt-Honekamp CEO | Officer | 8 | $0 |
Kathy Berg Fiscal Director | Officer | 8 | $0 |
Marcia Dorwin Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,270,740 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,431,840 |
| Total Program Service Revenue | $3,586,482 |
| Investment income | $463,352 |
| 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 | $5,481,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,577,335 |
| 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 | $511,405 |
| Pension plan accruals and contributions | $22,413 |
| Other employee benefits | $80,459 |
| Payroll taxes | $46,182 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,800 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,060 |
| Advertising and promotion | $0 |
| Office expenses | $14,283 |
| Information technology | $63,860 |
| Royalties | $0 |
| Occupancy | $38,027 |
| Travel | $413 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $103,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,586 |
| All other expenses | $510 |
| Total functional expenses | $4,606,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,722,078 |
| Savings and temporary cash investments | $523,295 |
| Pledges and grants receivable | $165,488 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,545,266 |
| 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 | $12,956,127 |
| Accounts payable and accrued expenses | $16,721 |
| Grants payable | $0 |
| Deferred revenue | $543,203 |
| 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 | $4,748,489 |
| Total liabilities | $5,308,413 |
| Net assets without donor restrictions | $1,048,396 |
| Net assets with donor restrictions | $6,599,318 |
| 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 | $12,956,127 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Snap Financial Access has recieved totaling $16,005.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $16,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Snap Financial Access Spokane, WA | $12,956,127 | $5,481,674 |
Housing Resources Bainbridge Bainbridge Island, WA | $8,136,820 | $1,791,113 |
Heat Oregon Portland, OR | $2,927,868 | $1,655,425 |
Whatcom-Skagit Housing Bellingham, WA | $4,587,356 | $717,109 |
Nhs Lending Inc Boise, ID | $6,052,045 | $1,544,726 |
Oregon Training Institute Salem, OR | $35,093 | $157,071 |
Fortify Families Beaverton, OR | $629 | $0 |
Helping Hands Team Milton, WA | $556,939 | $106,880 |
Community Housing Services Albany, OR | $0 | $122,045 |
Fort Love-It Affordable Solutions Housing La Center, WA | $0 | $0 |