Lamedichi
- Assets
- $1.6m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Carbondale, CO
- Founding
- Data as of
- 12/2021
- EIN
- 85-4176243
Organization Overview
Lamedichi is located in Carbondale, CO. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lamedichi is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SAVINGS COLLABORATIVE HELPS LOW INCOME PEOPLE SAVE THROUGH A SECURE MOBILE APP. IT PAYS REWARDS & FAVORABLE INTEREST RATES AS INCENTIVES TO SAVE, ISSUES LOANS AT FAVORABLE INTEREST RATES, AND COACHING & EDUCATION ON FINANCIAL MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BELL POLICY PROJECT HELPS EDUCATE AND PROMOTE ECONOMIC MOBILITY WITHIN OUR COMMUNITY, HELPING INDIVIDUALS AND FAMILIES IMPROVE THEIR ECONOMIC WELL-BEING OVER TIME.
THE SAVINGS COLLABORATIVE HAS EMPOWERED HUNDREDS OF LOWER-INCOME FAMILIES ACROSS COLORADO TO START SAVING AND BECOME FINANCIALLY LITERATE. IT PROVIDES LOANS FOR UNEXPECTED EXPENSES AND EMERGENCIES. IT PROVIDES EDUCATIONAL PROGRAMS TO DEVELOP THE HABIT OF SAVING AND FINANCIAL MANAGEMENT SKILLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Freeman Executive Director | Trustee | 60 | $64,593 |
Jon Fox-Rubin Director | Trustee | 1.5 | $9,600 |
Iliana Renteria Director | Trustee | 1 | $7,200 |
Reginald Berry Director | Trustee | 1.5 | $0 |
Cindy Kahn Director | Trustee | 1.5 | $0 |
Rob Pew Director | Trustee | 1 | $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 | $1,156,033 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,156,033 |
| Total Program Service Revenue | $0 |
| 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 | $1,156,033 |
| 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. | $64,593 |
| Compensation of current officers, directors, key employees. | $7,751 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,726 |
| Fees for services: Management | $555 |
| Fees for services: Legal | $15,831 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,293 |
| Office expenses | $2,578 |
| Information technology | $24,000 |
| Royalties | $0 |
| Occupancy | $4,150 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,396 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $835 |
| All other expenses | $90 |
| Total functional expenses | $306,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,515,079 |
| 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 | $56,547 |
| 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 | $1,545 |
| Total assets | $1,573,171 |
| 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 | $723,340 |
| Total liabilities | $723,340 |
| Net assets without donor restrictions | $849,831 |
| 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 | $1,573,171 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Lamedichi has recieved totaling $130,919.
| Awarding Organization | Amount |
|---|---|
Manaus Carbondale, CO PURPOSE: To transfer Ambassador income raised to LaMedichi | $55,298 |
Aspen Community Foundation Basalt, CO PURPOSE: GENERAL SUPPORT | $54,180 |
Manaus Carbondale, CO PURPOSE: Bridge Grant | $13,870 |
Manaus Carbondale, CO PURPOSE: To transfer Bell Policy income | $7,571 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Money Management International Inc Phoenix, AZ | $55,363,723 | $38,595,180 |
Economic Empowerment Center Omaha, NE | $3,751,095 | $11,872,061 |
Take Charge America Inc Phoenix, AZ | $22,881,953 | $7,255,476 |
Quickcert Tulsa, OK | $2,343,407 | $2,400,741 |
Earn To Learn Tucson, AZ | $1,535,362 | $2,450,878 |
American Credit Foundation Inc Draper, UT | $673,807 | $2,274,444 |
Credit Advisors Foundation Omaha, NE | $5,047,344 | $1,612,156 |
Family Financial Education Foundation Evanston, WY | $2,580,776 | $1,346,527 |
3rd Decade Inc Tucson, AZ | $335,356 | $974,738 |
Community Enterprise Development Services Aurora, CO | $7,776,464 | $2,438,749 |
Housing And Credit Counseling Inc Topeka, KS | $1,465,189 | $741,277 |
Consumer Credit Counseling Service Of Salina Inc Salina, KS | $360,345 | $376,593 |