Finreglab Inc
- Assets
- $1.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Washington, DC
- Founding
- 09/2018
- Data as of
- 12/2022
- EIN
- 82-2842970
Organization Overview
Finreglab Inc is located in Washington, DC. The organization was established in 2018. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Finreglab Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finreglab 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 12/2022, Finreglab Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $1.9m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO TEST NEW TECHNOLOGIES AND DATA TO INFORM PUBLIC POLICY AND DRIVE THE FINANCIAL SECTOR TOWARD A RESPONSIBLE AND INCLUSIVE FINANCIAL MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPLANABILITY AND FAIRNESS IN MACHINE LEARNING: THE ORGANIZATION IS CONDUCTING RESEARCH ON THE CAPABILITIES OF MODEL DIAGNOSTIC TOOLS PROVIDED BY SEVERAL TECHNOLOGY COMPANIES THAT IS DESIGNED TO IMPROVE THE EXPLAINABILITY OF MACHINE LEARNING UNDERWRITING MODELS. THIS INVESTIGATION WILL FOCUS ON THE ABILITY OF THE MODEL DIAGNOSTIC TOOLS TO DETECT MODEL PERFORMANCE DETERIORATION FOR VARIOUS FORMS OF MACHINE LEARNING MODELS, TO IDENTIFY DISPARATE IMPACT AND HELP LENDERS MITIGATE THE UNDERLYING CAUSE, AND TO RELIABLY IDENTIFY THE PRIMARY BASES OF INDIVIDUAL UNDERWRITING DECISIONS.
OTHER PROGRAMS: PROGRAM RESEARCH AND BORROWER RISK ASSESSMENT WITH CASH FLOW DATA.
CASH-FLOW DATA FOR ASSESSING DISTRESSED BORROWERS: THE ORGANIZATION IS CONDUCTING RESEARCH RELATING TO PILOT INITIATIVES BY THE NATIONAL FOUNDATION FOR CREDIT COUNSELING TO HELP CONSUMERS WHO ARE IN FINANCIAL DISTRESS COMING OUT OF THE COVID-19 PANDEMIC PAY DOWN THEIR UNSECURED DEBT AND STABILIZE THEIR FINANCES. THE PILOTS INCLUDE USING BANK ACCOUNT DATA TO ASSESS WHAT REPAYMENT PLANS ARE LIKELY TO WORK FOR PARTICULAR GROUPS OF CONSUMERS AND TO MONITOR THEIR FINANCES FOR SECONDARY SHOCKS, AS WELL AS OTHER PROCESS AND PLATFORM IMPROVEMENTS.
SMALL BUSINESS RESEARCH: THE ORGANIZATION IS CONDUCTING RESEARCH INTO THE VALUE OF BANK ACCOUNTS AND OTHER NON-TRADITIONAL DATA FOR INCREASING CREDIT ACCESS TO MINORITY BUSINESS ENTERPRISES AND OTHER SMALL COMPANIES. THE PROGRAM IS ALSO FOCUSED ON HELPING MISSION-BASED LENDERS INCREASE THE SCALE OF THEIR OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Koide CEO | OfficerTrustee | 40 | $269,025 |
Kelly Thompson Cochran Secretary & Treasurer | Officer | 40 | $239,944 |
Paula-Rose Stark Director Of Machine Learning Research | Officer | 40 | $196,403 |
Natalia Bailey Senior Research Manager | 40 | $131,917 | |
Kerrigan Molland Senior Finance & Business Operations Manager | 40 | $116,026 | |
Amy Friend Board Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $884,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,555,581 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,440,140 |
| Total Program Service Revenue | $423,035 |
| Investment income | $1,225 |
| 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 | $2,865,900 |
| 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. | $709,021 |
| Compensation of current officers, directors, key employees. | $145,062 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $495,598 |
| Pension plan accruals and contributions | $31,621 |
| Other employee benefits | $39,624 |
| Payroll taxes | $78,916 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $460 |
| Fees for services: Accounting | $32,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $406,054 |
| Advertising and promotion | $0 |
| Office expenses | $15,243 |
| Information technology | $20,281 |
| Royalties | $0 |
| Occupancy | $24,195 |
| Travel | $34,153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,532 |
| Insurance | $6,966 |
| All other expenses | $0 |
| Total functional expenses | $1,900,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,311 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $884,559 |
| Accounts receivable, net | $6,300 |
| 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 | $38,833 |
| Net Land, buildings, and equipment | $16,606 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,456,609 |
| Accounts payable and accrued expenses | $130,650 |
| 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 | $130,650 |
| Net assets without donor restrictions | $441,400 |
| Net assets with donor restrictions | $884,559 |
| 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 | $1,456,609 |