Express Advantage
- Assets
- $788.1k
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Tacoma, WA
- Founding
- 01/2010
- Data as of
- 12/2023
- EIN
- 61-1575044
Organization Overview
Express Advantage, operating under the name National Council for Financial Opportunities, is located in Tacoma, WA. The organization was established in 2010. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Council for Financial Opportunities 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, National Council for Financial Opportunities generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 12.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATING SCALABLE AND COLLABORATIVE PROGRAMS THAT CREATE POSITIVE ECONOMIC IMPACT AND FINANCIAL RESILIENCY FOR LOW INCOME FAMILIES AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL RESILIENCY: FINANCIAL EDUCATION AND COACHING FOCUSED ON BASIC CAPABILITIES MATCHED SEAMLESSLY WITH APPROPRIATE AND FLEXIBLE PRODUCTS AND SERVICES ALLOWING PARTICIPANTS TO GAIN ACCESS TO FINANCIAL PRODUCTS AND SERVICES WHILE KEEPING THE LOW INCOME FAMILIES OUT OF THE CLUTCHES OF HIGH COST ALTERNATIVE FINANCIAL SERVICE PROVIDERS AND HIGH DEBT THAT ALLOWS THEM TO INCREASE ASSETS AND BECOME FINANCIALLY RESILIENT.
OPPORTUNITY KNOCK$ INITIATIVE - SEASON 2: PBS SHOW THAT TEACHES FINANCIAL LITERACY TO FAMILIES.
FINANCIAL ACCESSIBILITY TO MEET PEOPLE, IN DISTRESSED COMMUNITIES, WHERE THEY ARE (SOCIAL SERVICE AGENCIES, FINANCIAL EMPOWERMENT CENTER, ETC.).
INCOME ADEQUACY - ASSET BUILDING PROGRAMS THAT CREATE OPPORTUNITIES THAT INCENTIVIZE PEOPLE TO CHANGE SAVINGS AND SPENDING BEHAVIOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Augustine Chair | Trustee | 5 | $0 |
Enrique Delgadillo Vice Chair | Trustee | 0.25 | $0 |
Chris Horton Secretary | Trustee | 0.25 | $0 |
Mike Beall Executive Director | OfficerTrustee | 10 | $0 |
Sharon Hall CFO | Officer | 10 | $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 | $2,250,011 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,250,011 |
| Total Program Service Revenue | $0 |
| Investment income | $543 |
| 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 | $2,250,554 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,496,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $888 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $60 |
| Total functional expenses | $1,496,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $788,065 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $788,065 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $788,065 |
| Total liabilities and net assets/fund balances | $788,065 |
Grants Awarded
Over the last fiscal year, Express Advantage has awarded $411,442 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PENINSULA COMMUNITY FEDERAL CREDIT UNION PURPOSE: Peninsula Federal Credit Union used their $10,000 in 2016 to support the efforts around creating a program Community Financial Education Program. Peninsula hired a Community Financial Educator that rotates to various community centers in Mason and Kitsap County; Sound Learning, North Mason Resources, Kitsap Community Resources and Shelton Timberland/William Reed Library. At these sites, Peninsula CU provides one-on-one budget coaching and basic financial education in classroom environments. In addition they provide access to second chance checking accounts, credit building loans and used auto refinancing helping people get out of high interest rate loans. | $10,000 |
INDUSTRIAL CU OF WHATCOM COUNTY PURPOSE: Industrial Credit Union of Whatcom County used the $10,000 funds in 2016, to invest in financial education curriculum used in association with its SEED program. SEED is the Supportive Empowerment through Education and Development Program that is focused on a regional food system and the local farms. The curriculum is used at the community food hub where farmers, farm employees and their families access opportunities to participate in a farmers market, a community kitchen, food bank, and other healthy life skills that include financial education and credit building. | $10,000 |
NORTH COAST CREDIT UNION PURPOSE: $10,000 for North Coast Credit Union lead a collaborative effort in Skagit County to build a Financial Empowerment Center. The credit union and Express Advantage worked together and developed a detailed model that would set the center up for sustainable success. The plan was turned over to the Skagit Asset Building Coalition and by the end of 2016, the Skagit Asset Building Coalition opened the Skagit Financial PEOPLE (Peers Empowering Others by Providing Leadership and Education) now funded by the United Way of Skagit County. The model incorporates peer led financial education sessions held with groups of low to moderate income individuals and families throughout Skagit County. | $10,000 |
EXPRESS CREDIT UNION PURPOSE: In 2016 Express Advantage aligned its Community Teller Program with Express Credit Union and the City of Seattle's Financial Empowerment Center with a $130K grant. Community Tellers delivered financial coaching, accessible and affordable financial products and services designed by Express Advantage for the low income communities in Seattle and King County. | $381,442 |