Greenpath Inc
- Assets
- $64.4m
- Revenue
- $48.8m
- Investments
- $0.0
- Employees
- 467
- Location
- Farmington Hills, MI
- Founding
- 08/1967
- Data as of
- 12/2021
- EIN
- 38-6142925
Organization Overview
Greenpath Inc is located in Farmington Hills, MI. The organization was established in 1967. 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 12/2021, Greenpath Inc employed 467 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenpath Inc 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, Greenpath Inc generated $48.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $40.1m during the year ending 12/2021. While expenses have increased by 1.1% 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
EMPOWERING PEOPLE TO LEAD FINANCIALLY HEALTHY LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSUMER CREDIT COUNSELING, EDUCATION, AND FINANCIAL WELLNESS PROGRAMS: GREENPATH DELIVERS FREE 1-ON-1 FINANCIAL COUNSELING, CREDIT COUNSELING, STUDENT LOAN COUNSELING, PRE-FILING BANKRUPTCY COUNSELING, FINANCIAL EDUCATION AND DEBT MANAGEMENT SERVICES TO PEOPLE IN ALL 50 STATES. IN 2021, WE PROVIDED THESE CREDIT AND DEBT COUNSELING SERVICES TO ABOUT 43,000 HOUSEHOLDS. WE ALSO HELPED MORE THAN 54,000 PEOPLE REPAY MORE THAN $237 MILLION IN DEBT.
HOUSING COUNSELING: AS A DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) INTERMEDIARY AND HOUSING COUNSELING AGENCY, GREENPATH PROVIDES MORTGAGE/RENT DELINQUENCY COUNSELING, PRE-PURCHASE HOME BUYER COUNSELING AND EDUCATION, AND REVERSE MORTGAGE (HECM) COUNSELING TO PEOPLE IN ALL 50 STATES. IN 2021, WE PROVIDED THESE HOUSING COUNSELING SERVICES TO ABOUT 44,000 HOUSEHOLDS. NOTE: REVENUE FROM THIS ACTIVITY IS FEDERALLY FUNDED AND, THEREFORE, INCLUDED UNDER PART VIII (1) CONTRIBUTIONS AND GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristen Holt President & CEO | Officer | 36 | $466,292 |
Donna Mcneill Chief Operating Officer | Officer | 34 | $333,349 |
Sireesha Mandava Chief Information Officer | Officer | 34 | $312,277 |
Richard T Hollis Chief Financial Officer | Officer | 25 | $269,323 |
Richard Bialobrzeski Chief Business Development | Officer | 40 | $250,725 |
Donna Doleman Chief Marketing Officer | Officer | 40 | $242,963 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clarifi Counseling Services | 12/30/21 | $194,833 |
Copeland Paving Inc Capital Improvment | 12/30/21 | $306,622 |
Globant Llc It Services | 12/30/21 | $623,000 |
Outsystems Inc It Services | 12/30/21 | $176,110 |
Adp Llc Payroll | 12/30/21 | $159,671 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $26,754 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,658,907 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,015,691 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,701,352 |
| Total Program Service Revenue | $30,966,334 |
| Investment income | $281,034 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $961,541 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,847,735 |
| 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. | $2,248,614 |
| Compensation of current officers, directors, key employees. | $1,018,121 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,673,752 |
| Pension plan accruals and contributions | $898,048 |
| Other employee benefits | $2,634,372 |
| Payroll taxes | $1,853,576 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150,468 |
| Fees for services: Accounting | $142,674 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,861 |
| Fees for services: Other | $132,422 |
| Advertising and promotion | $1,354,471 |
| Office expenses | $1,920,372 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $943,268 |
| Travel | $80,328 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $267,756 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,368,127 |
| Insurance | $475,920 |
| All other expenses | $60,194 |
| Total functional expenses | $40,056,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,995,529 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,567,424 |
| 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 | $1,299,867 |
| Net Land, buildings, and equipment | $28,210,678 |
| Investments—publicly traded securities | $18,019,718 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $37,165 |
| Other assets | $9,271,919 |
| Total assets | $64,402,300 |
| Accounts payable and accrued expenses | $3,422,332 |
| Grants payable | $0 |
| Deferred revenue | $1,264,899 |
| Tax-exempt bond liabilities | $9,205,964 |
| Escrow or custodial account liability | $8,960,677 |
| 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 | $320,593 |
| Total liabilities | $23,174,465 |
| Net assets without donor restrictions | $38,871,085 |
| Net assets with donor restrictions | $2,356,750 |
| 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 | $64,402,300 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Greenpath Inc has recieved totaling $2,123,105.
| Awarding Organization | Amount |
|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA PURPOSE: HOUSING COUNSELING & EDUCATION | $1,014,750 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $1,000,000 |
National Foundation For Credit Counseling Inc Washington, DC PURPOSE: FINANCIAL EDUCATION SUPPORT | $71,100 |
Newburyport Five Cents Savings Charitable Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $14,000 |
Comerica Charitable Foundation Detroit, MI PURPOSE: GREENPATH CRA ADVANTAGE | $10,000 |
Connexus Association Inc Wausau, WI PURPOSE: EDUCATION | $7,524 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greenpath Inc Farmington Hills, MI | $64,402,300 | $48,847,735 |
Homeownership Preservation Foundation Farmington Hills, MI | $9,859,367 | $7,508,104 |
Trinity Credit Counseling Inc Cincinnati, OH | $7,906,378 | $6,728,875 |
Ethiopian Tewahedo Social Services Columbus, OH | $1,906,040 | $4,712,779 |
Consumer Credit Counseling Service Of The Midwest Inc Gahanna, OH | $5,434,834 | $5,167,342 |
Southwest Economic Solutions Detroit, MI | $1,547,756 | $3,561,883 |
National Association Of Investors Corporation Troy, MI | $3,876,994 | $2,170,565 |
Chn Housing Capital Cleveland, OH | $8,811,020 | $2,597,719 |
Securefutures Foundation Inc Milwaukee, WI | $1,756,343 | $1,837,399 |
Homeownership Center Of Greater Dayton Inc Dayton, OH | $721,425 | $1,226,035 |
National Debt Management Inc Southfield, MI | $65,495 | $932,102 |
Advocacy Programs Of Family Service Association Of Sheboygan Inc Sheboygan, WI | $1,760,753 | $891,187 |