Family Financial Education Foundation
- Assets
- $2.5m
- Revenue
- $553.8k
- Investments
- $0.0
- Employees
- 15
- Location
- Evanston, WY
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 83-0320495
Organization Overview
Family Financial Education Foundation is located in Evanston, WY. The organization was established in 1998. 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 12/2022, Family Financial Education Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Financial Education Foundation 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, Family Financial Education Foundation generated $553.8k 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 (12.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF FAMILY FINANCIAL EDUCATION FOUNDATION FFEF IS TO STRENGTHEN AND SUPPORT LOW TO MODERATE INCOME INDIVIDUALS, FAMILIES, AND COMMUNITIES BY TEACHING THEM HOW TO APPLY SOUND MONEY MANAGEMENT SKILLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EACH MONTH CLIENTS HAVE ACCESS TO A MONTHLY NEWSLETTER THAT INCLUDES TIMELY TOPICS. WEEKLY FINANCIAL ARTICLES AND TIPS ARE ALSO POSTED TO THE SOCIAL MEDIA SITES PROVIDING ADDITIONAL EDUCATION THROUGHOUT THE MONTH. NEWS LETTERS INCLUDE TIPS TO KEEP YOUR MONEY SAFE THIS HOLIDAY, THE GOOD BAD OF LOANING MONEY TO FRIENDS FAMILY, OCTOBER IS FINANCIAL PLANNING MONTH, UNDERSTANDING THE NUMBERS ON YOUR PAYCHECK, SHOPPING DECISIONS - MAKE THE BEST DECISION FOR YOU, COPING WITH THE HIGH COST OF GASOLINE, BUDGETING IS MORE IMPORTANT THAN EVER, MANAGING YOUR HOUSEHOLD RECORDS, DONT BE TAKEN IN BY CHARITY SCAMS, MAKING WISE INVESTMENT CHOICES FOR YOUR 401K PLAN, UNDERSTANDING SOCIAL SECURITY BENEFITS, FINANCIAL TIPS FOR SINGLE PARENTS.
DEBT MANAGEMENT, THIS PROGRAM IS FOR PEOPLE WHO CAN NO LONGER AFFORD TO MAKE THEIR MINIMUM MONTHLY PAYMENTS TO CREDITORS. THE FFEF DEBT MANAGEMENT PROGRAM CAN PROVIDE MUCH-NEEDED RELIEF AND HELP PEOPLE WORK THEIR WAY BACK TO BEING FINANCIALLY STABLE. FFEF COMPLETES A FULL BUDGET ANALYSIS OF THE CLIENTS CURRENT FINANCIAL SITUATION AND DETERMINES A TIMELINE FOR PAYING OFF THE DEBT. PROPOSALS ARE SENT TO THEIR CREDITORS TO NEGOTIATE LOWER INTEREST RATES AND LOWER MONTHLY PAYMENT AMOUNTS. ALTHOUGH MANY CREDITORS WILL LOWER THEIR INTEREST RATES, SOME MAY NOT. FFEF ALSO WORKS TO HAVE ACCOUNTS RE-AGED OR BROUGHT CURRENT. AS BALANCES ARE PAID IN FULL, THE PAMENT ROLLS UP TO THE CREDITOR WITH THE NEXT SMALLEST BALANCE. THIS SHORTENS THE TIME A PERSON IS IN DEBT AND DECREASES THE AMOUNT OF MONEY HE WILL PAY BEFORE HE IS DEBT FREE.
CREDIT SCORE REVIEW/MY CREDIT PLAN, PROVIDES A QUALITY 3-IN-1 CREDIT REPORT WITH FICO SCORES FROM EQUIFAX, EXPERIAN, AND TRANSUNION. THIS IS THE SAME REPORT USED BY MORTGAGE COMPANIES, BANKS, AND OTHER LENDERS. THIS REVIEW WILL TEACH CLIENTS HOW TO IMPROVE THEIR CREDIT SCORE AND HOW TO DISPUTE ANY ERRORS. ONE OF FFEFS CERTIFIED CREDIT REPORT REVIEWERS WILL COUNSEL AND GUIDE THE CLIENT LINE BY LINE THROUGH THE CREDIT REPORT TO ANSWER ANY QUESTIONS AND ADDRESS ANY CONCERNS. THIS IS NOT CREDIT REPAIR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John C Phillips Director | Trustee | 1 | $0 |
Craig Welling Director | Trustee | 1 | $0 |
Donald R Frakes Director | Trustee | 1 | $0 |
William R Cluny President CEO | Officer | 50 | $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 | $314,886 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $314,886 |
| Total Program Service Revenue | $423,806 |
| Investment income | -$184,859 |
| 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 | $553,833 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $614,134 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $80,478 |
| Payroll taxes | $0 |
| Fees for services: Management | $16,681 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $86,499 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $125,242 |
| Office expenses | $18,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $175,062 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,958 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,160,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,458 |
| Savings and temporary cash investments | $1,649,484 |
| 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 | $8,251 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $517,683 |
| Total assets | $2,515,876 |
| Accounts payable and accrued expenses | $24,335 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $297,164 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $140,058 |
| Other liabilities | $517,683 |
| Total liabilities | $979,240 |
| 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 | $1,536,636 |
| Total liabilities and net assets/fund balances | $2,515,876 |