Civic Intelligence

Financial Education Initiative

990 • Fiscal year 2022 • EIN 27-1052771

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 20, 2023

Organization Profilewww.moneythink.org
1452 E 53rd StreetChicago, IL 60615

(626) 202-4850

Siviq Scores

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

Liabilities / Assets

78th percentile

0.36x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

71st percentile

0.27x

Higher debt load relative to revenue than 71% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

17th percentile

-15%

Higher net margin than 17% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

93rd percentile

$243,067

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 12.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

2nd percentile

-46%

Faster asset growth than 2% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

17th percentile

-23%

Faster revenue growth than 17% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$1,525,712

Down $1,286,918 (-46%) from 2021

Net Assets

Down

$982,773

Down $1,154,257 (-54%) from 2021

Liabilities

Down

$542,939

Down $132,661 (-20%) from 2021

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin17th percentile

Revenue

Down

$1,996,587

Down $610,463 (-23%) from 2021

Expenses

Up

$2,286,220

Up $980,705 (+75%) from 2021

Net Income

Down

-$289,633

Down $1,591,168 (-122%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2013: $44,578Liabilities 2013: $0Net Assets 2013: $44,5782013Assets 2014: $376,117Liabilities 2014: $2,491Net Assets 2014: $373,6262014Assets 2015: $627,616Liabilities 2015: $7,950Net Assets 2015: $619,6662015Assets 2016: $422,176Liabilities 2016: $5,627Net Assets 2016: $416,5492016Assets 2017: $470,209Liabilities 2017: $35,580Net Assets 2017: $434,6292017Assets 2019: $155,422Liabilities 2019: $39,294Net Assets 2019: $116,1282019Assets 2020: $1,140,905Liabilities 2020: $305,410Net Assets 2020: $835,4952020Assets 2021: $2,812,630Liabilities 2021: $675,600Net Assets 2021: $2,137,0302021Assets 2022: $1,525,712Liabilities 2022: $542,939Net Assets 2022: $982,7732022

Highlighted filing

2022

Assets$1,525,712
Liabilities$542,939
Net Assets$982,773
Open 2022 Filing

Operations Trend

Revenue Growth17th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2013: $164,5562013Revenue 2014: $734,092Expenses 2014: $415,631Net Income 2014: $318,4612014Revenue 2015: $1,462,504Expenses 2015: $1,216,464Net Income 2015: $246,0402015Revenue 2016: $997,766Expenses 2016: $1,200,883Net Income 2016: -$203,1172016Revenue 2017: $888,620Expenses 2017: $1,254,733Net Income 2017: -$366,1132017Revenue 2019: $699,767Expenses 2019: $1,018,892Net Income 2019: -$319,1252019Revenue 2020: $1,484,808Expenses 2020: $765,441Net Income 2020: $719,3672020Revenue 2021: $2,607,050Expenses 2021: $1,305,515Net Income 2021: $1,301,5352021Revenue 2022: $1,996,587Expenses 2022: $2,286,220Net Income 2022: -$289,6332022

Highlighted filing

2022

Revenue$1,996,587
Expenses$2,286,220
Net Income-$289,633
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 20, 2023
Return Version
2022v5.0
Gross Receipts
$1,996,587
Mission and Program Overview

Mission

Moneythink expands economic opportunity in the United States by equipping urban youth to believe in themselves, navigate the financial decisions of adulthood, and achieve financial prosperity. Moneythink gets young people excited about making smart financial decisions and starts them down the path toward economic success - in turn, generating a financial ripple effect through families and entire communities.

Financial education and peer mentorship to 11th and 12th graders

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$884,624--
Cash and Non-Interest-Bearing Accounts$1,023,270$654,372▼ $368,898
Savings and Temporary Cash Investments$500,464$500,563▲ $99
Land, Buildings, and Equipment, Net$381,788$364,847▼ $16,941
Prepaid Expenses and Deferred Charges$22,484$5,930▼ $16,554
Total Assets$2,812,630$1,525,712▼ $1,286,918
Liabilities
Other Liabilities$635,125$500,000▼ $135,125
Accounts Payable and Accrued Expenses$40,475$42,939▲ $2,464
Total Liabilities$675,600$542,939▼ $132,661
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,881,624$1,073,031▼ $808,593
Net Assets Without Donor Restrictions$255,406$-90,258▼ $345,664
Total Net Assets Fund Balance$2,137,030$982,773▼ $1,154,257
Total Liabilities and Net Assets / Fund Balance$2,812,630$1,525,712▼ $1,286,918

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$364,847$290,408$655,255
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joshua LachsCEOFT$228,444$14,623$243,067
Sara O'HearnVP of ProductFT$169,543$17,796$187,339
Hannah SmithVP of PartnershipsFT$117,220$17,560$134,780
Alexandra ShilukVP of OperationsFT$114,396$11,053$125,449
Benjamin MayAPI Product ManagerFT$101,407$12,036$113,443

Board Members and Trustees

NameTitle
Gregory NanceChairman
Leigh PhillipsDirector
Matt TaylorDirector
Meera IyerDirector
R Jerry NemorinDirector
Patrice BerrySecretary
Gary PelissierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,996,489
Program Service Revenue
$0
Investment Income
$98
Other Revenue
$0
All Other Contributions
$1,861,364
Change in Net Assets
$-289,633

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,996,587
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,447
Total Revenue per Audited Statements
$1,998,034
Total Revenue per Form 990
$1,996,587
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,445,545
Other Expenses$840,675
Total Fundraising Expense$218,735
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$830,925$37,380$131,785$1,000,090
Fees for Services Other$433,450$20,308$7,573$461,331
Current Officers, Directors, Trustees, and Key Employees$201,952$9,085$32,030$243,067
Depreciation Depletion$180,300$292$803$181,395
Payroll Taxes$75,719$3,417$12,209$91,345
Other Employee Benefits$68,058$3,567$10,382$82,007
Information Technology$38,394$4,724$14,440$57,558
Fees for Services Accounting-$35,381-$35,381
Advertising$29,267$104$250$29,621
Pension Plan Contributions$24,097$1,262$3,677$29,036
Travel$15,587$246$3,801$19,634
Interest-$17,000-$17,000
Conferences and Meetings$11,395$214$414$12,023
Insurance$6,451$3,170$894$10,515
Occupancy$308$7,195$13$7,516
Office Expenses$372$3,683$464$4,519
Fees for Services Legal-$4,182-$4,182
Total Functional Expenses$1,916,275$151,210$218,735$2,286,220

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,287,667
Expenses per Audited Statements$2,286,220
Total Expenses per Form 990$2,286,220
Expenses Not Reported on Form 990$1,447
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
SBA EIDL loan$500,000
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
Yes
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, Section B, line 11B

“The Form 990 and related schedules were reviewed by the Board Treasurer and CEO and provided to the Board of Directors prior to filing.”

Form 990, Part VI, Section B, line 15

“Officer and key employee compensation is determined by the Compensation Committee of the Board of Directors. The Committee shall obtain comparable compensation information from salary surveys and/or known compensation paid by similarly sized and located organizations for like positions in analogous circumstances.”

Form 990, Part VI, Section C, line 19

“Governing documents and financial statements are available to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Moneythink
EIN
27-1052771
Phone
6262024850
Address
1452 E 53rd Street, Chicago, IL 60615

Signing Officer

Name
Joshua Lachs
Title
Chief Executive Officer
Phone
6262024850
Signed
2023-07-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joshua Lachs
Formed
2009
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
18
Volunteers
47

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S Western Ave, Chicago, IL 60643
Preparer
Jason L Gierhahn
Phone
7737794720
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Consulting: Program service expenses 430,408. Management and general expenses 15,841. Fundraising expenses 7,006. Total expenses 453,255. Professional Development: Program service expenses 0. Management and general expenses 4,206. Fundraising expenses 95. Total expenses 4,301. Payroll processing: Program service expenses 3,042. Management and general expenses 261. Fundraising expenses 472. Total expenses 3,775.”

Form 990, Part XI, line 9:

“Correction of error in recording grants from prior year -864,624.”

Form 990, Part XII, line 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

Part X, Line 2:

“FIN 48 note from Audited Financial Statements Moneythink was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). Moneythink qualifies for the charitable contribution deduction under Section 170 and has been classified as an organization that is not a private foundation under Section 509(a)(1). The tax exempt purpose of Moneythink and the nature in which it operates is described above. Moneythink continues to operate in compliance with its tax exempt purpose. Moneythink's annual information returns filed with the federal and state governments are subject to examination for three years after filing.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Moneythink helps promote economic equity by empowering students to make informed financial choices. With expertise built on years of experience collaborating with students, college advisors and high schools, Moneythink takes inventory of outcomes and feedback to guide students on their financial journeys. Our technology expands our ability to reduce student debt: offering students, families, and their advisors free guides and tools, like DecidED. DecidED is a web-based app that helps students learn about their college options and compare the affordability of financial aid offers against other criteria, such as graduation rates. By providing clear and factual information, DecidED encourages students to enroll at affordable schools where they have the greatest chance of graduating with the least amount of debt. DecidED is free and was designed with the needs of institutionally underserved students and their existing support systems in mind. Once students see their choices and clearly understand their associated costs, they can achieve success at all stages and more directly shape their futures.
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IRS990/PrincipalOfficerNm0Joshua Lachs
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SBA EIDL loan
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 note from Audited Financial Statements Moneythink was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). Moneythink qualifies for the charitable contribution deduction under Section 170 and has been classified as an organization that is not a private foundation under Section 509(a)(1). The tax exempt purpose of Moneythink and the nature in which it operates is described above. Moneythink continues to operate in compliance with its tax exempt purpose. Moneythink's annual information returns filed with the federal and state governments are subject to examination for three years after filing.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Joshua Lachs
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Sara O'Hearn
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,525,712
Liabilities
$542,939
Net assets
$982,773
Revenue
$1,996,587
Expenses
$2,286,220
Net income
-$289,633
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.53$0.54$0.98$2.00$2.29$0.29
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.68$2.14$2.61$1.31$1.30
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.31$0.84$1.48$0.77$0.72
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.04$0.12$0.70$1.02$0.32
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.04$0.43$0.89$1.25$0.37
2016Detailed filing. Detailed filing data is available for this year.$0.42$0.01$0.42$1.00$1.20$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.63$0.01$0.62$1.46$1.22$0.25
2014Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.37$0.73$0.42$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.00$0.04$0.16