Family Management Financial Solutions Inc
- Assets
- $885.3k
- Revenue
- $242.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Waterloo, IA
- Founding
- 02/1993
- Data as of
- 12/2019
- EIN
- 42-1390688
Organization Overview
Family Management Financial Solutions Inc is located in Waterloo, IA. The organization was established in 1993. 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 12/2019, Family Management Financial Solutions Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Management Financial Solutions 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 12/2019, Family Management Financial Solutions Inc generated $242.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $275.4k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 5 years. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN OUR COMMUNITIES BY PROVIDING TOOLS AND RESOURCES FOR ACHIEVING PERSONAL FINANCIAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT COUNSELING: TO PROVIDE ASSISTANCE TO THE COMMUNITY WITH FINANCIAL PROBLEMS THROUGH CREDIT AND DEBT COUNSELING.
HOUSING COUNSELING: TO PROVIDE HOUSING AND LOSS MITIGATION COUNSELING TO EXISTING HOMEOWNERS, HOME OWNERSHIP OPPORTUNITIES, AND ANTI-PREDATORY LENDING ACTIVITIES TO INDIVIDUALS IN THE LOCAL COMMUNITIES. ALSO, TO PROVIDE REVERSE MORTGAGE COUNSELING TO INDIVIDUALS AGE 62+ NATIONWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katy Hackett Executive Di | Officer | 50 | $66,993 |
Jody Goldsberry Stephens CFO | Officer | 32 | $41,580 |
Michele Clark President/tr | OfficerTrustee | 0.5 | $0 |
Jamie Burton Secretary | OfficerTrustee | 0.5 | $0 |
Laurie Reicherts Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,104 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,655 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,759 |
| Total Program Service Revenue | $187,729 |
| Investment income | $646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$273 |
| 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 | $242,168 |
| 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. | $103,144 |
| Compensation of current officers, directors, key employees. | $50,012 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,681 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,769 |
| Advertising and promotion | $3,520 |
| Office expenses | $14,952 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,675 |
| Travel | $950 |
| 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 | $22 |
| Insurance | $5,891 |
| All other expenses | $501 |
| Total functional expenses | $275,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $825,874 |
| Savings and temporary cash investments | $607 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $58,779 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $885,260 |
| Accounts payable and accrued expenses | $2,520 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $739,942 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $461 |
| Other liabilities | $0 |
| Total liabilities | $742,923 |
| Net assets without donor restrictions | $142,337 |
| 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 | $885,260 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Family Management Financial Solutions Inc has recieved totaling $14.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Empowerment Center Omaha, NE | $3,751,095 | $11,872,061 |
North Iowa Community Action Organization Mason City, IA | $4,791,194 | $9,251,857 |
Family Credit Counseling Service Inc Chicago, IL | $9,585,248 | $7,733,487 |
Familymeans Stillwater, MN | $14,787,567 | $4,858,760 |
Northwest Side Housing Center Chicago, IL | $2,986,371 | $4,446,523 |
Prepare And Prosper St Paul, MN | $2,509,288 | $2,156,071 |
Consumer Credit Of Des Moines Des Moines, IA | $2,361,855 | $1,382,576 |
Securefutures Foundation Inc Milwaukee, WI | $1,756,343 | $1,837,399 |
Credit Advisors Foundation Omaha, NE | $5,047,344 | $1,612,156 |
Moneythink Chicago, IL | $2,812,630 | $2,607,050 |
Allen Credit & Debt Counseling Agency Wolsey, SD | $408,689 | $1,340,879 |
Black Hills Childrens Ranch Inc Rapid City, SD | $795,827 | $1,321,713 |