Civic Intelligence

The Financial Clinic

EIN 76-0833915 • 501(c)3 • Brooklyn, NY

Profile

The financial clinic builds working poor families' financial security by addressing their immediate financial challenges and helping them set long-term goals to achieve financial mobility.

271 Cadman Plaza E 24763Brooklyn, NY 11202

thefinancialclinic.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.25x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.25x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

14th percentile

-22%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

8th percentile

-23%

Faster asset growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

92nd percentile

100%

Faster revenue growth than 92% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,683,319

Down $784,809 (-23%) from 2023

Liabilities

Down

$674,003

Down $191,032 (-22%) from 2023

Net Assets

Down

$2,009,316

Down $593,777 (-23%) from 2023

Revenue

Up

$2,662,753

Up $1,332,369 (+100%) from 2023

Expenses

Down

$3,256,530

Down $1,265,106 (-28%) from 2023

Net Income

Up

-$593,777

Up $2,597,475 (+81%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $456,087Liabilities 2014: $818,472Net Assets 2014: -$362,3852014Assets 2015: $765,220Liabilities 2015: $771,308Net Assets 2015: -$6,0882015Assets 2016: $4,390,107Liabilities 2016: $734,917Net Assets 2016: $3,655,1902016Assets 2017: $5,997,503Liabilities 2017: $975,090Net Assets 2017: $5,022,4132017Assets 2018: $3,456,366Liabilities 2018: $827,132Net Assets 2018: $2,629,2342018Assets 2019: $5,322,432Liabilities 2019: $821,557Net Assets 2019: $4,500,8752019Assets 2020: $4,942,472Liabilities 2020: $1,188,022Net Assets 2020: $3,754,4502020Assets 2021: $5,832,796Liabilities 2021: $758,450Net Assets 2021: $5,074,3462021Assets 2022: $6,769,108Liabilities 2022: $974,763Net Assets 2022: $5,794,3452022Assets 2023: $3,468,128Liabilities 2023: $865,035Net Assets 2023: $2,603,0932023Assets 2024: $2,683,319Liabilities 2024: $674,003Net Assets 2024: $2,009,3162024

Highlighted filing

2024

Assets$2,683,319
Liabilities$674,003
Net Assets$2,009,316

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2014: $1,194,699Expenses 2014: $1,373,397Net Income 2014: -$178,6982014Revenue 2015: $2,877,395Expenses 2015: $2,521,098Net Income 2015: $356,2972015Revenue 2016: $6,741,459Expenses 2016: $3,080,181Net Income 2016: $3,661,2782016Revenue 2017: $5,192,528Expenses 2017: $3,825,305Net Income 2017: $1,367,2232017Revenue 2018: $1,967,970Expenses 2018: $4,361,149Net Income 2018: -$2,393,1792018Revenue 2019: $5,297,334Expenses 2019: $3,425,691Net Income 2019: $1,871,6432019Revenue 2020: $3,496,701Expenses 2020: $4,243,126Net Income 2020: -$746,4252020Revenue 2021: $6,179,294Expenses 2021: $4,859,398Net Income 2021: $1,319,8962021Revenue 2022: $6,213,887Expenses 2022: $5,493,888Net Income 2022: $719,9992022Revenue 2023: $1,330,384Expenses 2023: $4,521,636Net Income 2023: -$3,191,2522023Revenue 2024: $2,662,753Expenses 2024: $3,256,530Net Income 2024: -$593,7772024

Highlighted filing

2024

Revenue$2,662,753
Expenses$3,256,530
Net Income-$593,777

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 15, 2025
Return Version
2023v6.0
Gross Receipts
$2,662,753
Mission and Program Overview

Mission

After 14 years, the financial clinic has demonstrated a "gold standard" model for building financial security for working poor families. A high-performing organization with a focus on results, the clinic has put over $80 million back in the pockets of more than 47,000 customers, supported more than 400 organizations in 40 states and districts embed financial security actions into their program models, and successfully launched several policy campaigns in support of working poor families. A landmark national study shows the clinic's model of financial coaching helps working poor families move toward financial security.

Change Machine's vision is an equitable economy in which we all thrive. Change Machine builds financial security through people-powered technology. We champion the aspirations of those who are most economically disadvantaged by oppressive public policies and practices namely Black and Brown women who navigate financial insecurity. Their success means success for all. Grounded in the expertise and solutions of financial coaches and customers, our technology reaches social service organizations and public agencies nationwide, transforming how they work with people to achieve their financial goals. Our data and research shape lasting change that addresses the economic effects of slavery and patriarchal policies removes barriers to financial security and shrinks the gender and racial wealth gap.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,985,792$1,228,745▼ $757,047
Land, Buildings, and Equipment, Net$648,908$653,274▲ $4,366
Savings and Temporary Cash Investments$371,223$371,409▲ $186
Pledges and Grants Receivable-$175,000-
Accounts Receivable$54,369$157,048▲ $102,679
Prepaid Expenses and Deferred Charges$121,610$97,843▼ $23,767
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$3,468,128$2,683,319▼ $784,809
Other Assets Total$286,226$0▼ $286,226
Liabilities
Mortgage Notes Payable Secured by Investment Property$429,846$429,846→ $0
Other Liabilities$204,817--
Accounts Payable and Accrued Expenses$187,413$180,025▼ $7,388
Deferred Revenue$42,959$64,132▲ $21,173
Total Liabilities$865,035$674,003▼ $191,032
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,334,135$1,131,192▼ $202,943
Net Assets Without Donor Restrictions$1,268,958$878,124▼ $390,834
Total Net Assets Fund Balance$2,603,093$2,009,316▼ $593,777
Total Liabilities and Net Assets / Fund Balance$3,468,128$2,683,319▼ $784,809

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$636,768$704,051$1,340,819
Equipment$16,506$102,827$119,333
Leasehold Improvements-$12,300$12,300
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mae Watson GroteCEOFT$236,408$93,255$339,663
David BautistaChief Prod & TechFT$156,063$37,127$183,190
Kattherine ReevesChief Strategy OffFT$142,193$28,718$170,911
Tamika JohnsonChief Engmt/AdoptiFT$155,238$14,142$169,380
Martinez PaniaguaJesusEngineering LeadFT$114,568$10,738$125,306

Board Members and Trustees

NameTitle
Kevin McQueenBoard Chair
Jasmine ColquittDirector
Jason WallaceDirector
Rhonda MowerDirector
Ross HamiltonDirector
Andy TuckettTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
AndelaEngineering/Prod. Devel.129 West 29th Street 4th FL, New York, NY 10001$248,467
YptcAccounting1500 Walnut St Suite 1200, Philadelphia, PA 19102-3507$240,780
Beacon Hill Staffing Group LLCO/sourced clerical, mngmt152 Bowdoin St, Boston, MA 02108$112,634
Revenue and Support

Revenue Composition

Contributions and Grants
$2,031,742
Program Service Revenue
$584,283
Investment Income
$10,054
Other Revenue
$36,674
All Other Contributions
$2,031,742
Change in Net Assets
$-593,777

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,662,753
Revenue Not Reported on Form 990
$24,639
Total Revenue per Audited Statements
$2,687,392
Total Revenue per Form 990
$2,662,753
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,734,607
Salaries, Compensation, and Employee Benefits$1,521,923
Total Fundraising Expense$343,002
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$736,746$180,142$37,729$954,617
Information Technology$283,660$76,800$45,630$406,090
Fees for Services Other$236,108$66,781$38,705$341,594
Current Officers, Directors, Trustees, and Key Employees$101,133$64,106$132,718$297,957
Fees for Services Accounting-$259,314-$259,314
Depreciation Depletion$168,772$2,054$1,157$171,983
Occupancy$123,179$26,767$14,779$164,725
Fees for Services Management$47,376$53,901$43,086$144,363
Advertising$67,613$31,573$60$99,246
Other Employee Benefits$85,370$8,567-$93,937
Pension Plan Contributions$66,600$11,199$12,513$90,312
Payroll Taxes$56,778$16,803$11,519$85,100
Interest-$50,185-$50,185
Insurance$28,409$6,260$3,543$38,212
Office Expenses$3,040$6,574$495$10,109
Conferences and Meetings$4,578$2,206$856$7,640
Travel$376$6,744$212$7,332
Other Expenses$950$32,500-$950
Fees for Services Legal-$364-$364
Total Functional Expenses$2,010,688$902,840$343,002$3,256,530

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,281,169
Expenses per Audited Statements$3,256,530
Total Expenses per Form 990$3,256,530
Expenses Not Reported on Form 990$24,639
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-
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The prepared form 990 is reviewed by the director of finance and the ceo and then by the members of the governing body before the return is filed with the irs.

Form 990, Part VI, Section B, Line 12C

Any director, principal officer, or member of a committee with governing body-delegated power who has, directly or indirectly,through business investments or family: (i) an ownership or investment in any entity with which the organization has a transaction or arrangement, (ii) a compensation arrangement with the organization or with any entity or individual with which the organization has a transaction or arrangement, or (iii) a potential ownership or investment interest in, or compensation arrangement with, any entity or individuals with which the organization is negotiating a transaction or arrangement. No director shall vote on any matter in which he or she has an interest.

Form 990, Part VI, Section B, Line 15A

The ceos compensation is reviewed by the members of the governing body using comparable data. The deliberation and decision is then memorialized in an official letter to the ceo of any adjustment to compensation. This process was last undertaken in september 2021.

Form 990, Part VI, Section B, Line 15B

Any director, principal officer, or member of a committee with governing body-delegated power who has, directly or indirectly, through business investments or family: (i) an ownership or investment in any entity with which the organization has a transaction or arrangement, (ii) a compensation arrangement with the organization or with any entity or individual with which the organization has a transaction or arrangement, or (iii) a potential ownership or investment interest in, or compensation arrangement with, any entity or individuals with which the organization is negotiating a transaction or arrangement. No director shall vote on any matter is which he or she has an interest.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Change Machine
EIN
76-0833915
Phone
7185527336
Address
271 Cadman Plaza E 24763, Brooklyn, NY 11202

Signing Officer

Name
Dave Uejio
Title
COO
Signed
2025-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dave Uejio COO
Formed
2006
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
27
Volunteers
6

Preparer

Firm
WatsonRice LLP
Address
31 West 34th Street 7006, New York, NY 10001
Preparer
Baruti Bediako CPA
Phone
2124477300
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IRS990/ProgSrvcAccomActy2Grp/Desc0PRODUCT DEVELOPMENT (PLATFORM) - BUILDING FINANCIAL SECURITY USING PEOPLE-POWERED TECHNOLOGY IS CORE TO CHANGE MACHINES MISSION. ITS REVOLUTIONARY CLOUD-BASED PLATFORM, WHICH OPERATES AS A B2B2C SOFTWARE AS A SERVICE (SAAS) SOCIAL ENTERPRISE, PROVIDES A SINGLE PLATFORM WHERE PRACTITIONERS CAN LEARN BEST FINANCIAL COACHING PRACTICES; ACCESS TOOLS AND INFORMATION; AND PARTICIPATE IN A PROFESSIONAL SOCIAL NETWORK SPECIFICALLY DESIGNED FOR THE FIELD. BUILT BY PRACTITIONERS FOR PRACTITIONERS, CHANGE MACHINES FINANCIAL COACHING PLATFORM PROVIDES A ONE-STOP SHOP FOR EFFECTIVE RESOURCES PRACTITIONERS CAN USE TO ADDRESS THEIR CUSTOMERS UNDERLYING FINANCIAL INSECURITY.
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