Financial Wellness Institute Inc
- Assets
- $293.5k
- Revenue
- $330.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Deptford, NJ
- Founding
- 10/2003
- Data as of
- 12/2021
- EIN
- 75-3109240
Organization Overview
Financial Wellness Institute Inc is located in Deptford, NJ. The organization was established in 2003. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2021, Financial Wellness Institute Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Wellness Institute 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, Financial Wellness Institute Inc generated $330.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $278.0k during the year ending 12/2021. While expenses have increased by 10.3% 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
STRENGTHEN INDIVIDUALS AND FAMILIES AND EMPOWERING COMMUNITIES TOWARD ECONOMIC STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN SUPPORT OF OUR MISSION THE FINANCIAL WELLNESS INSTUTUTE CONDUCTED PROGRAMS AND PROVIDED SUPPORT TO INDIVIDUALS AND FAMILIES IN THE FOLLOWING PROGRAMS:1. FINANCIAL EDUCTION & ECONOMIC EMPOWERMENT2, HOUSING 3. OTHER PROGRAMS SMALL BUSINESS TECHNICAL SUPPORT WORKFORCE DEVELOPMENT - CAREER SERVICES
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wanda Hardy CEO | Officer | 40 | $134,583 |
Rita Wood Chair & Treas | OfficerTrustee | 3 | $0 |
Daniel Mak Secretary | OfficerTrustee | 2 | $0 |
Nadira Farouk CFO | OfficerTrustee | 0 | $0 |
Tiffanie Talley-Baines Trustee | Trustee | 1 | $0 |
Darrin Gould Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $162,096 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,085 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,181 |
| Total Program Service Revenue | $26,200 |
| Investment income | $0 |
| 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 | $330,381 |
| 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. | $134,583 |
| Compensation of current officers, directors, key employees. | $13,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,786 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,044 |
| Payroll taxes | $13,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,421 |
| Fees for services: Accounting | $2,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,941 |
| Advertising and promotion | $14,194 |
| Office expenses | $12,004 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,440 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,397 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,752 |
| All other expenses | -$1,481 |
| Total functional expenses | $277,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,972 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $70,106 |
| 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 | $2,439 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,013 |
| Total assets | $293,530 |
| Accounts payable and accrued expenses | $2,861 |
| Grants payable | $0 |
| Deferred revenue | $87,153 |
| 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 | $198,809 |
| Other liabilities | $0 |
| Total liabilities | $288,823 |
| Net assets without donor restrictions | $4,707 |
| 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 | $293,530 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Financial Wellness Institute Inc has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Philadelphia Foundation Philadelphia, PA PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Wsfs Foundation Wilmington, DE PURPOSE: AFFORDABLE HOUSING | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Practising Law Institute New York, NY | $169,437,578 | $109,173,484 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
Local Union 164 Electrical Joint Apprenticeship And Training Trust Paramus, NJ | $19,017,559 | $4,299,279 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Chronic Liver Disease Foundation Inc Clark, NJ | $1,027,147 | $3,658,520 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |
Resource Training Center Inc Staten Island, NY | $1,509,183 | $2,732,050 |
Institute Of Classical Architecture And Art Inc New York, NY | $5,800,944 | $3,154,717 |
Literacy West Ny Inc Belmont, NY | $671,461 | $2,695,039 |
Institute Foundation Inc New York, NY | $1,481,430 | $2,888,520 |