Change Machine

Organization Overview

Change Machine is located in Brooklyn, NY. The organization was established in 2007. According to its NTEE Classification (P50) the organization is classified as: Personal Social Services, under the broad grouping of Human Services and related organizations. As of 09/2023, Change Machine employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Change Machine 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 09/2023, Change Machine generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (18.4%) each year. All expenses for the organization totaled $4.5m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

CHANGE MACHINE'S VISION IS AN EQUITABLE ECONOMY IN WHICH WE ALL THRIVE. CHANGE MACHINE BUILDS FINANCIAL SECURITY THROUGH PEOPLE-POWERED TECHNOLOGY. WE CHAMPION THE ASPIRATIONS OF THOSE WHO ARE MOST ECONOMICALLY DISADVANTAGED BY OPPRESSIVE PUBLIC POLICIES AND PRACTICES NAMELY BLACK AND BROWN WOMEN WHO NAVIGATE FINANCIAL INSECURITY. THEIR SUCCESS MEANS SUCCESS FOR ALL. GROUNDED IN THE EXPERTISE AND SOLUTIONS OF FINANCIAL COACHES AND CUSTOMERS, OUR TECHNOLOGY REACHES SOCIAL SERVICE ORGANIZATIONS AND PUBLIC AGENCIES NATIONWIDE, TRANSFORMING HOW THEY WORK WITH PEOPLE TO ACHIEVE THEIR FINANCIAL GOALS. OUR DATA AND RESEARCH SHAPE LASTING CHANGE THAT ADDRESSES THE ECONOMIC EFFECTS OF SLAVERY AND PATRIARCHAL POLICIES REMOVES BARRIERS TO FINANCIAL SECURITY AND SHRINKS THE GENDER AND RACIAL WEALTH GAP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PRODUCT DEVELOPMENT (PLATFORM) - BUILDING FINANCIAL SECURITY USING PEOPLE-POWERED TECHNOLOGY IS CORE TO CHANGE MACHINES MISSION. ITS REVOLUTIONARY CLOUD-BASED PLATFORM, WHICH OPERATES AS A B2B2C SOFTWARE AS A SERVICE (SAAS) SOCIAL ENTERPRISE, PROVIDES A SINGLE PLATFORM WHERE PRACTITIONERS CAN LEARN BEST FINANCIAL COACHING PRACTICES; ACCESS TOOLS AND INFORMATION; AND PARTICIPATE IN A PROFESSIONAL SOCIAL NETWORK SPECIFICALLY DESIGNED FOR THE FIELD. BUILT BY PRACTITIONERS FOR PRACTITIONERS, CHANGE MACHINES FINANCIAL COACHING PLATFORM PROVIDES A ONE-STOP SHOP FOR EFFECTIVE RESOURCES PRACTITIONERS CAN USE TO ADDRESS THEIR CUSTOMERS UNDERLYING FINANCIAL INSECURITY.


CAPACITY BUILDING - CHANGE MACHINES BUSINESS-TO-BUSINESS CONSULTING SERVICES ARE DESIGNED TO BUILD CAPACITY AT ORGANIZATIONS THAT WORK WITH LOW-INCOME PEOPLE LOCALLY AND NATIONALLY. THE TEAM PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO BUILD FINANCIAL SECURITY STRATEGIES INTO THE DAILY INTERACTIONS OF FRONTLINE STAFF AT PARTNER ORGANIZATIONS. THIS INCLUDES TRAINING FOR FRONTLINE STAFF TO ENGAGE THEIR CUSTOMERS IN CONVERSATIONS ABOUT PERSONAL FINANCE, AS WELL AS SUPPORT FOR LEADERSHIP TO FULLY IMPLEMENT AN INTEGRATED APPROACH TO FINANCIAL SECURITY SERVICES WITHIN THEIR PROGRAMS AND ORGANIZATIONS.


RESEARCH & POLICY - CHANGE MACHINE DEVELOPS AND ADVOCATES FOR POLICY REFORMS AND SYSTEMIC CHANGES THAT WILL REMOVE OBSTACLES TO FINANCIAL SECURITY. CHANGE MACHINE BUILDS COALITIONS AND PARTNERS WITH ADVOCACY GROUPS, RESEARCHERS, THINK TANKS, PRACTITIONERS, AND LOCAL, STATE, AND FEDERAL POLICYMAKERS TO GUIDE AND SUPPORT ITS POLICY AGENDA. ITS IN-HOUSE RESEARCH AND POLICY TEAM SURFACES INSIGHTS USING CUSTOMER DATA CAPTURED ON THE CHANGE MACHINE PLATFORM. CHANGE MACHINE USES ITS DATA AND RESEARCH TO LEVERAGE LESSONS LEARNED ON THE GROUND TO CREATE IMPACT FAR BEYOND AN INITIAL PROGRAM - INFORMING BEST PRACTICES, THE FIELD, AND PUBLIC POLICY.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Andela
Engineering/prod. Devel.
$232,112
Yptc
Accounting
$161,935
View All Vendors

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$743,122
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$743,122
Total Program Service Revenue$575,946
Investment income $11,061
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 $1,330,384

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