Civic Intelligence

Finequity Inc.

990 • Fiscal year 2021 • EIN 84-4391836

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2022

Organization Profilewww.finequity.org
41 Schermerhorn Street Suite 1002Brooklyn, NY 11201

(646) 760-6655

Siviq Scores

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

Liabilities / Assets

54th percentile

0.00x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • NTEE I • <$500k nonprofits • Source year 2021

Liabilities / Revenue

54th percentile

0.00x

Higher debt load relative to revenue than 54% of similar nonprofits.

2021 filings • NTEE I • <$500k nonprofits • Source year 2021

Net Margin

85th percentile

52%

Higher net margin than 85% of similar nonprofits.

2021 filings • NTEE I • <$500k nonprofits • Source year 2021

Top Officer Pay

89th percentile

$56,962

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 22.0% of source-year revenue.

2021 filings • NTEE I • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets54th percentile

Assets

$169,621

No earlier filing loaded for comparison.

Net Assets

$169,294

No earlier filing loaded for comparison.

Liabilities

$327

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin85th percentile

Revenue

$259,350

No earlier filing loaded for comparison.

Expenses

$124,113

No earlier filing loaded for comparison.

Net Income

$135,237

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0Assets 2021: $169,621Liabilities 2021: $327Net Assets 2021: $169,2942021Assets 2022: $1,001,732Liabilities 2022: $10,459Net Assets 2022: $991,2732022Assets 2023: $1,045,175Liabilities 2023: $10,198Net Assets 2023: $1,034,9772023Assets 2024: $752,753Liabilities 2024: $2,129Net Assets 2024: $750,6242024

Highlighted filing

2021

Assets$169,621
Liabilities$327
Net Assets$169,294
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2021: $259,350Expenses 2021: $124,113Net Income 2021: $135,2372021Revenue 2022: $947,411Expenses 2022: $275,432Net Income 2022: $671,9792022Revenue 2023: $565,905Expenses 2023: $522,201Net Income 2023: $43,7042023Revenue 2024: $100,802Expenses 2024: $385,155Net Income 2024: -$284,3532024

Highlighted filing

2021

Revenue$259,350
Expenses$124,113
Net Income$135,237
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2022
Return Version
2021v4.0
Gross Receipts
$259,350
Mission and Program Overview

Mission

Our Mission is to help those who have been impacted by long-term incarceration, mass incarceration, and financial exclusion to build their credit profiles as part of their re-entry journey.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$34,057$169,021▲ $134,964
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$34,057$169,621▲ $135,564
Other Assets Total-$600-
Liabilities
Accounts Payable and Accrued Expenses-$327-
Total Liabilities$0$327▲ $327
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$34,057$154,294▲ $120,237
Net Assets With Donor Restrictions-$15,000-
Total Net Assets Fund Balance$34,057$169,294▲ $135,237
Total Liabilities and Net Assets / Fund Balance$34,057$169,621▲ $135,564
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Briane CornishExecutive DirectorFT$56,962$56,962

Board Members and Trustees

NameTitle
Mark ShervingtonChairman
Joe RobinsonSecretary
Carl OwensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$255,750
Program Service Revenue
$3,600
Investment Income
$0
Other Revenue
$0
All Other Contributions
$255,750
Change in Net Assets
$135,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$91,886
Total Fundraising Expense$34,044
Other Expenses$32,227
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$24,129$12,868$19,965$56,962
Other Salaries and Wages$11,289$6,019$9,347$26,655
Fees for Services Other$18,294$1,956-$20,250
Payroll Taxes$3,502$1,868$2,899$8,269
Office Expenses$698$2,773$578$4,049
Occupancy-$3,479-$3,479
Information Technology$1,385$738$1,146$3,269
Other Expenses-$730-$730
Insurance$132$70$109$311
Travel-$75-$75
Conferences and Meetings-$34-$34
Advertising-$30-$30
Total Functional Expenses$59,429$30,640$34,044$124,113
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
Yes
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, Line 11B: Form 990 Review Process

“The Finance Committee and Board review the 990 prior to filing.”

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

“Conflicts of interest are identified upon election of Board Members or upon selection process of Employees. Conflict of Interest Statements are prepared and signed annually.”

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

“Management compensation is based on analysis of historical and market data for each position, and adjusted annually for changes in market rates and performance indicators.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Management compensation is based on analysis of historical and market data for each position, and adjusted annually for changes in market rates and performance indicators.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
finEQUITY Inc
EIN
84-4391836
Phone
6467606655
Address
41 Schermerhorn Street Suite 1002, Brooklyn, NY 11201

Signing Officer

Name
Briane Cornish
Title
Executive Director
Signed
2022-11-10
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
9

Preparer

Firm
Ry CPA LLC
Address
3400 11TH ST NW 2ND FL, WASHINGTON, DC 20010
Preparer
Raffi Yousefian
Phone
2029199265
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2: New Services

“We conducted a pilot of our service (a private beta) in 2021, where 100% of our program participants received free access to their credit data and established a positive credit history (above 650s) with all three credit bureaus. Through guidance around navigating no-cost financial resources, we helped participants through financial emergencies.”

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“Management and Board oversee the selection of an independent auditor to perform a review of the financial statements. The oversight and selection process does not vary year over year.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0We conducted a pilot of our service (a private beta) in 2021, where 100% of our program participants received free access to their credit data and established a positive credit history (above 650s) with all three credit bureaus. Through guidance around navigating no-cost financial resources, we helped participants through financial emergencies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Finance Committee and Board review the 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflicts of interest are identified upon election of Board Members or upon selection process of Employees. Conflict of Interest Statements are prepared and signed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management compensation is based on analysis of historical and market data for each position, and adjusted annually for changes in market rates and performance indicators.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Management compensation is based on analysis of historical and market data for each position, and adjusted annually for changes in market rates and performance indicators.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Management and Board oversee the selection of an independent auditor to perform a review of the financial statements. The oversight and selection process does not vary year over year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 2: New Services
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2: Change of Oversight or Selection Process
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Briane Cornish
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0finEQUITY Inc
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RY CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03400 11TH ST NW 2ND FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WASHINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020010
ReturnHeader/PreparerPersonGrp/PhoneNum02029199265
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Raffi Yousefian
ReturnHeader/ReturnTs02022-11-10T13:55:19-08:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$169,621
Liabilities
$327
Net assets
$169,294
Revenue
$259,350
Expenses
$124,113
Net income
$135,237
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.00$0.75$0.10$0.39$0.28
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.01$1.03$0.57$0.52$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.01$0.99$0.95$0.28$0.67
2021Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.26$0.12$0.14