Civic Intelligence

Financial Beginnings

990 • Fiscal year 2021 • EIN 20-3530960

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

6443 SW Beaverton Hillsdale Hwy 430Portland, OR 97221

(800) 406-1876

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.28x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.12x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

8th percentile

-33%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

94th percentile

$145,662

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 21.1% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

2nd percentile

-49%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

10th percentile

-36%

Faster revenue growth than 10% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Down

$300,011

Down $289,840 (-49%) from 2020

Net Assets

Down

$215,055

Down $230,805 (-52%) from 2020

Liabilities

Down

$84,956

Down $59,035 (-41%) from 2020

Revenue

Down

$690,120

Down $390,797 (-36%) from 2020

Expenses

Up

$920,925

Up $153,085 (+20%) from 2020

Net Income

Down

-$230,805

Down $543,882 (-174%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2012: $67,620Liabilities 2012: $6,0502012Assets 2013: $98,476Liabilities 2013: $7,745Net Assets 2013: $90,7312013Assets 2014: $142,100Liabilities 2014: $18,731Net Assets 2014: $123,3692014Assets 2015: $237,653Liabilities 2015: $23,391Net Assets 2015: $214,2622015Assets 2016: $293,441Liabilities 2016: $15,684Net Assets 2016: $277,7572016Assets 2017: $559,704Liabilities 2017: $69,691Net Assets 2017: $490,0132017Assets 2018: $239,526Liabilities 2018: $30,654Net Assets 2018: $208,8722018Assets 2019: $174,014Liabilities 2019: $41,231Net Assets 2019: $132,7832019Assets 2020: $589,851Liabilities 2020: $143,991Net Assets 2020: $445,8602020Assets 2021: $300,011Liabilities 2021: $84,956Net Assets 2021: $215,0552021Assets 2022: $67,187Liabilities 2022: $70,757Net Assets 2022: -$3,5702022Assets 2023: $892,367Liabilities 2023: $148,250Net Assets 2023: $744,1172023Assets 2024: $1,230,464Liabilities 2024: $216,216Net Assets 2024: $1,014,2482024

Highlighted filing

2021

Assets$300,011
Liabilities$84,956
Net Assets$215,055

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2012: $188,738Expenses 2012: $157,831Net Income 2012: $30,9072012Expenses 2013: $226,8582013Revenue 2014: $342,024Expenses 2014: $309,386Net Income 2014: $32,6382014Revenue 2015: $572,036Expenses 2015: $481,143Net Income 2015: $90,8932015Revenue 2016: $653,493Expenses 2016: $589,998Net Income 2016: $63,4952016Revenue 2017: $952,741Expenses 2017: $740,485Net Income 2017: $212,2562017Revenue 2018: $521,697Expenses 2018: $559,375Net Income 2018: -$37,6782018Revenue 2019: $506,570Expenses 2019: $582,659Net Income 2019: -$76,0892019Revenue 2020: $1,080,917Expenses 2020: $767,840Net Income 2020: $313,0772020Revenue 2021: $690,120Expenses 2021: $920,925Net Income 2021: -$230,8052021Revenue 2022: $739,533Expenses 2022: $958,158Net Income 2022: -$218,6252022Revenue 2023: $1,855,588Expenses 2023: $1,107,901Net Income 2023: $747,6872023Revenue 2024: $1,238,981Expenses 2024: $1,553,324Net Income 2024: -$314,3432024

Highlighted filing

2021

Revenue$690,120
Expenses$920,925
Net Income-$230,805
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$690,120
Mission and Program Overview

Mission

Financial beginnings empowers youth and adults to take control of their financial future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$448,143$247,830▼ $200,313
Pledges and Grants Receivable$105,000$33,000▼ $72,000
Prepaid Expenses and Deferred Charges$8,160$9,634▲ $1,474
Accounts Receivable$27,214$7,595▼ $19,619
Land, Buildings, and Equipment, Net$1,334$1,952▲ $618
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$589,851$300,011▼ $289,840
Other Assets Total-$0-
Liabilities
Other Liabilities$136,733$68,322▼ $68,411
Accounts Payable and Accrued Expenses$7,258$16,634▲ $9,376
Total Liabilities$143,991$84,956▼ $59,035
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$445,860$215,055▼ $230,805
Total Net Assets Fund Balance$445,860$215,055▼ $230,805
Total Liabilities and Net Assets / Fund Balance$589,851$300,011▼ $289,840

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,952$2,753$4,705
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Melody BellCEOFT$137,870$7,792$145,662
Timothy ChristyCOOFT$85,443$10,838$96,281
James ChenChief Adv OfcrFT$84,483$2,532$87,015

Board Members and Trustees

NameTitle
Casey BoggsPresident
Catherine MartinVice President
Amanda LangBoard Member
Judy StavinskyBoard Member
Heidi SextonSecretary
Don RuggTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$544,504
Program Service Revenue
$145,207
Investment Income
$409
Other Revenue
$0
All Other Contributions
$342,817
Change in Net Assets
$-230,805

Audited Revenue Reconciliation

Revenue per Audited Statements
$690,120
Revenue Not Reported on Form 990
$9,140
Total Revenue per Audited Statements
$699,260
Total Revenue per Form 990
$690,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$752,582
Other Expenses$168,343
Total Fundraising Expense$126,456
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$251,900$51,036$19,555$322,491
Current Officers, Directors, Trustees, and Key Employees$220,842$11,584$82,096$314,522
Payroll Taxes$36,027$6,381$7,855$50,263
Fees for Services Other$21,841$15,442$4,314$41,597
Pension Plan Contributions$28,188$745$5,393$34,326
Other Employee Benefits$22,580$7,800$600$30,980
Occupancy$12,276$4,355$4,092$20,723
Office Expenses$8,021$4,032$1,169$13,222
Fees for Services Accounting-$5,200-$5,200
Advertising$3,666$553$123$4,342
Insurance$2,819$374$606$3,799
Fees for Services Legal$1,802$510-$2,312
Other Expenses$1,437$2,994$497$1,437
Depreciation Depletion$725$96$156$977
Travel$547$23-$570
Total Functional Expenses$683,344$111,125$126,456$920,925

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$930,065
Expenses per Audited Statements$920,925
Total Expenses per Form 990$920,925
Expenses Not Reported on Form 990$9,140
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Vacation$34,915
Accrued Payroll$33,407
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The form 990 is first reviewed by the finance committee and then the treasurer presents to the board for review before submitting.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members review the conflict of interest policy annually and are required to disclose any or no conflicts.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board chair leads the process of evaluating the ceo. The chair solicits input from the board to write a formal review for the ceo. The board approves the review and any salary or bonuses.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization's annual reports are available on our website. Other documents available upon request.

Filing and Contact Details

Filer

Filer Name
Financial Beginnings
EIN
20-3530960
Phone
8004061876
Address
6443 SW Beaverton Hillsdale Hwy 430, Portland, OR 97221

Signing Officer

Name
Melody Bell
Title
CEO
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melody Bell
Formed
2005
Legal Domicile
Or
Voting Board Members
6
Independent Board Members
6
Employees
11
Volunteers
139

Preparer

Firm
Alten Sakai & Company Llp
Address
8625 SW CASCADE AVE SUITE 310, BEAVERTON, OR 97008
Preparer
Eileen C Nguyen CPA
Phone
5032971072
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IRS990/Desc0FINANCIAL BEGINNINGS FULFILLS ITS MISSION BY PROVIDING NO-COST FINANCIAL EDUCATION PROGRAMMING. FINANCIAL BEGINNINGS IS A NATIONAL NONPROFIT THAT HAS STATEWIDE AFFILIATED NONPROFITS THAT PROVIDE FINANCIAL BEGINNINGS FINANCIAL EDUCATION PROGRAMMING. CURRENT INDEPENDENT AFFILAITES OPERATE IN OREGON AND WASHINGTON, CHAPTER AFFILAITES IN CALIFORNIA AND NEBRASKA, AND PROGRAMMING PROVIDED NATIONALLY. FINANCIAL BEGINNINGS INCREASES THE FINANCIAL CAPABILITY OF YOUTH AND ADULTS. DOING SO ALLOWS THEM TO LIVE WITH LESS FINANCIAL UNCERTAINTY, AND INCREASES LIFE OPPORTUNITIES SUCH AS HOME OWNERSHIP, HIGHER EDUCATION, AND SECURE RETIREMENT.FINANCIAL BEGINNINGS WORKS TO:- PROMOTE SELF-SUFFICIENCY BY TEACHING INDIVIDUALS HOW TO PROACTIVELY IMPROVE THEIR FINANCIAL HEALTH.- SUPPORT INDIVIDUALS IN ACCESSING AND PARTICIPATING IN FINANCIAL SERVICES.- PROVIDE AGE-APPROPRIATE FINANCIAL EDUCATION THAT MEETS OR EXCEEDS STATE-SPECIFIC STANDARDS.- ENHANCE FINANCIAL RESILIENCY AMONG UNDERSERVED POPULATIONS.- CREATE COMMUNITIES WITHIN WHICH THE NEED FOR FINANCIAL EDUCATION IS RECOGNIZED, AND ALL SECTORS WORK COLLABORATIVELY TOWARDS INCREASED FINANCIAL LITERACYTHIS IS ACCOMPLISHED THROUGH FINANCIAL BEGINNINGS MAIN PROGRAMS WHICH INCLUDE AGE-APPROPRIATE CURRICULA FOR YOUTH IN GRADES K-12 AS WELL AS PROGRAMMING FOR COLLEGE STUDENTS, AND ADULTS. PROGRAMS ARE PROVIDED IN PARTNERSHIP WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS, AND ARE ALWAYS OFFERED AT NO COST TO THE PARTICIPANT OR PARTNER. SINCE THE PANDEMIC, FINANCIAL BEGINNINGS HAS LAUNCHED ASYNCHRONOUS ELEARNING PROGRAMMING TO COMPLIMENT THE SYNCHRONOUS IN-PERSON PROGRAMMING.
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt022580
IRS990/OtherEmployeeBenefitsGrp/TotalAmt030980
IRS990/OtherExpensesGrp/Desc0PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1COMMUNICATIONS
IRS990/OtherExpensesGrp/Desc2Printing and Publications
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02994
IRS990/OtherExpensesGrp/ProgramServicesAmt067115
IRS990/OtherExpensesGrp/ProgramServicesAmt13558
IRS990/OtherExpensesGrp/ProgramServicesAmt21437
IRS990/OtherExpensesGrp/TotalAmt067115
IRS990/OtherExpensesGrp/TotalAmt17049
IRS990/OtherExpensesGrp/TotalAmt21437
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IRS990/OtherLiabilitiesGrp/EOYAmt068322
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt051036
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0251900
IRS990/OtherSalariesAndWagesGrp/TotalAmt0322491
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt07855
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06381
IRS990/PayrollTaxesGrp/ProgramServicesAmt036027
IRS990/PayrollTaxesGrp/TotalAmt050263
IRS990/PensionPlanContributionsGrp/FundraisingAmt05393
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0745
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt028188
IRS990/PensionPlanContributionsGrp/TotalAmt034326
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0105000
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08160
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09634
IRS990/PrincipalOfficerNm0MELODY BELL
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IRS990/ProgramServiceRevenueGrp/Desc0LICENSING OF CURRICULUM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0145207
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
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IRS990/PYProgramServiceRevenueAmt0224245
IRS990/PYRevenuesLessExpensesAmt0313077
IRS990/PYSalariesCompEmpBnftPaidAmt0571093
IRS990/PYTotalExpensesAmt0767840
IRS990/PYTotalRevenueAmt01080917
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-230805
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0145207
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02775320
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0791414
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IRS990ScheduleA/PublicSupportPY170Pct00.35190
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IRS990ScheduleA/SubstantialContributorsTotAmt01573731
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0339543
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0957014
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02775320
IRS990ScheduleA/TotalSupportAmt02783282
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IRS990ScheduleD/TotalExpensesPerForm990Amt0920925
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS FIRST REVIEWED BY THE FINANCE COMMITTEE AND THEN THE TREASURER PRESENTS TO THE BOARD FOR REVIEW BEFORE SUBMITTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY AND ARE REQUIRED TO DISCLOSE ANY OR NO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD CHAIR LEADS THE PROCESS OF EVALUATING THE CEO. THE CHAIR SOLICITS INPUT FROM THE BOARD TO WRITE A FORMAL REVIEW FOR THE CEO. THE BOARD APPROVES THE REVIEW AND ANY SALARY OR BONUSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S ANNUAL REPORTS ARE AVAILABLE ON OUR WEBSITE. OTHER DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OR
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.22$1.01$1.24$1.55$0.31
2023Summary only. Only limited summary data is available for this year.$0.89$0.15$0.74$1.86$1.11$0.75
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.07$0.00$0.74$0.96$0.22
2021Detailed filing. Detailed filing data is available for this year.$0.30$0.08$0.22$0.69$0.92$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.14$0.45$1.08$0.77$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.04$0.13$0.51$0.58$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.03$0.21$0.52$0.56$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.07$0.49$0.95$0.74$0.21
2016Summary only. Only limited summary data is available for this year.$0.29$0.02$0.28$0.65$0.59$0.06
2015Summary only. Only limited summary data is available for this year.$0.24$0.02$0.21$0.57$0.48$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.14$0.02$0.12$0.34$0.31$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.01$0.09$0.23
2012Summary only. Only limited summary data is available for this year.$0.07$0.01$0.19$0.16$0.03
Peer Organizations

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