Civic Intelligence

The Savings Collaborative

990 • Fiscal year 2023 • EIN 85-4176243

Jan 01, 2023 to Dec 31, 2023 • Filed on Mar 21, 2024

Organization ProfileN/A
959 Cedar CreekCarbondale, CO 81623

(970) 379-4234

Siviq Scores

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

Liabilities / Assets

89th percentile

0.70x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

2.94x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

33rd percentile

-3.2%

Higher net margin than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

79th percentile

$132,351

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 23.3% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

72nd percentile

16%

Faster asset growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

77th percentile

33%

Faster revenue growth than 77% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$2,370,764

Up $321,449 (+16%) from 2022

Net Assets

Down

$702,281

Down $18,434 (-2.6%) from 2022

Liabilities

Up

$1,668,483

Up $339,883 (+26%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin33rd percentile

Revenue

Up

$567,976

Up $142,348 (+33%) from 2022

Expenses

Up

$586,410

Up $73,912 (+14%) from 2022

Net Income

Up

-$18,434

Up $68,436 (+79%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2021: $1,573,171Liabilities 2021: $723,340Net Assets 2021: $849,8312021Assets 2022: $2,049,315Liabilities 2022: $1,328,600Net Assets 2022: $720,7152022Assets 2023: $2,370,764Liabilities 2023: $1,668,483Net Assets 2023: $702,2812023Assets 2024: $3,585,549Liabilities 2024: $1,866,297Net Assets 2024: $1,719,2522024

Highlighted filing

2023

Assets$2,370,764
Liabilities$1,668,483
Net Assets$702,281
Open 2023 Filing

Operations Trend

Revenue Growth77th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2021: $1,156,033Expenses 2021: $306,204Net Income 2021: $849,8292021Revenue 2022: $425,628Expenses 2022: $512,498Net Income 2022: -$86,8702022Revenue 2023: $567,976Expenses 2023: $586,410Net Income 2023: -$18,4342023Revenue 2024: $1,800,395Expenses 2024: $807,004Net Income 2024: $993,3912024

Highlighted filing

2023

Revenue$567,976
Expenses$586,410
Net Income-$18,434
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Mar 21, 2024
Return Version
2023v5.0
Gross Receipts
$567,976
Mission and Program Overview

Mission

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.

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 coaches & educates about financial management.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$1,543,842-
Cash and Non-Interest-Bearing Accounts$2,004,637$751,592▼ $1,253,045
Other Notes and Loans Receivable, Net$42,246$70,367▲ $28,121
Total Assets$2,049,315$2,370,764▲ $321,449
Other Assets Total$2,432$4,963▲ $2,531
Liabilities
Other Liabilities$1,324,550$1,668,483▲ $343,933
Accounts Payable and Accrued Expenses$4,050--
Total Liabilities$1,328,600$1,668,483▲ $339,883
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$694,641$676,207▼ $18,434
Net Assets With Donor Restrictions$26,074$26,074→ $0
Total Net Assets Fund Balance$720,715$702,281▼ $18,434
Total Liabilities and Net Assets / Fund Balance$2,049,315$2,370,764▲ $321,449
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Barbara FreemanExecutive DirectorFT$132,351-$132,351
Iliana RenteriaDirector--$8,995$8,995

Board Members and Trustees

NameTitle
Cindy KahnDirector
Jon Fox-RubinDirector
Maria Judith AlvarezDirector
Reginald BerryDirector
Vincent CalluzzoDirector
Yana RicartDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$452,138
Program Service Revenue
$115,744
Investment Income
$94
Other Revenue
$0
All Other Contributions
$415,138
Change in Net Assets
$-18,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$301,751
Other Expenses$270,259
Professional Fundraising Fees$14,400
Total Fundraising Expense$14,400
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$116,469$15,882$0$132,351
Other Salaries and Wages$64,038$8,733$0$72,771
Information Technology$53,401$5,934$0$59,335
Comp Disqual Persons$49,653$6,771$0$56,424
All Other Expenses$46,743$5,196$0$51,939
Interest$37,142$4,127$0$41,269
Other Expenses$27,000$3,000$0$30,000
Other Employee Benefits$22,227$3,031$0$25,258
Advertising$14,872$1,653$0$16,525
Payroll Taxes$13,153$1,794$0$14,947
Fees for Services Professional Fundraising--$14,400$14,400
Office Expenses$0$7,782$0$7,782
Fees for Services Legal$4,525$503$0$5,028
Fees for Services Accounting$4,070$452$0$4,522
Occupancy$3,594$399$0$3,993
Travel$1,636$182$0$1,818
Insurance$0$1,418$0$1,418
Conferences and Meetings$772$86$0$858
Total Functional Expenses$500,490$71,520$14,400$586,410
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$14,400
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Savers Deposits (Savings Club)$1,583,558
Savers Loans Receivable$70,367
Due to B Freeman excess FIT WH$14,475
Due to Colorado FAMLI$83
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
Filing and Contact Details

Filer

Filer Name
The Savings Collaborative
EIN
85-4176243
Phone
9703794234
Address
959 Cedar Creek, Carbondale, CO 81623

Signing Officer

Name
Barbara Freeman
Title
Executive Director
Phone
9703794234
Signed
2024-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara Freeman
Formed
2021
Legal Domicile
Co
Voting Board Members
8
Independent Board Members
8
Employees
2
Volunteers
12

Preparer

Firm
Ken Ransford Pc
Address
132 MIDLAND AVE STE 3, BASALT, CO 81621
Preparer
Ken Ransford
Phone
9709271200
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The nonprofit provides a copy of form 990 to board members for their review before filing.”

Pt VI, Line 12C

“Members of the board of directors complete a conflict of interest statement each year.”

Pt VI, Line 19

“The organization provides IRS Form 1023 and the past three tax returns of form 990, available upon request.”

Pt VI, Line 15A

“The organization consults nonprofit salary reviews to determine whether executive director salaries are excessive.”

Pt VI, Line 15B

“The executive director is one of two salaried employees.”

Other

“The Savings Collaborative records loans to Savings Club members as a current asset (Loan receivable) and as an offsetting liability which reduces the restricted fund balance. At 12-31-2023, the outstanding loan balance to Savings Club members and corresponding reduction to restricted fund balance is $70,367.”

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IRS990/PYInvestmentIncomeAmt03582
IRS990/PYOtherExpensesAmt0396236
IRS990/PYRevenuesLessExpensesAmt0-86870
IRS990/PYSalariesCompEmpBnftPaidAmt0116262
IRS990/PYTotalExpensesAmt0512498
IRS990/PYTotalRevenueAmt0425628
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-18434
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0567882
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01543842
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0460138
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0422046
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0261033
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01143217
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt058944
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02695
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt061639
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt0795211
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt0348006
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0460138
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0422046
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0261033
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01143217
IRS990ScheduleA/TotalSupportAmt01204856
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01583558
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt170367
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt214475
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt383
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Savers Deposits (Savings Club)
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Savers Loans Receivable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Due to B Freeman excess FIT WH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Due to Colorado FAMLI
IRS990ScheduleD/TotalLiabilityAmt01668483
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The nonprofit provides a copy of form 990 to board members for their review before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members of the board of directors complete a conflict of interest statement each year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization provides IRS Form 1023 and the past three tax returns of form 990, available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization consults nonprofit salary reviews to determine whether executive director salaries are excessive.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The executive director is one of two salaried employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Savings Collaborative records loans to Savings Club members as a current asset (Loan receivable) and as an offsetting liability which reduces the restricted fund balance. At 12-31-2023, the outstanding loan balance to Savings Club members and corresponding reduction to restricted fund balance is $70,367.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02049315
IRS990/TotalAssetsEOYAmt02370764
IRS990/TotalAssetsGrp/BOYAmt02049315
IRS990/TotalAssetsGrp/EOYAmt02370764
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0452138
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt014400
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt071520
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0500490
IRS990/TotalFunctionalExpensesGrp/TotalAmt0586410
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01328600
IRS990/TotalLiabilitiesEOYAmt01668483
IRS990/TotalLiabilitiesGrp/BOYAmt01328600
IRS990/TotalLiabilitiesGrp/EOYAmt01668483
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0720715
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0702281
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0500490
IRS990/TotalProgramServiceRevenueAmt0115744
IRS990/TotalReportableCompFromOrgAmt0132351
IRS990/TotalRevenueGrp/ExclusionAmt094
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0115744
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0567976
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02049315
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02370764

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,370,764
Liabilities
$1,668,483
Net assets
$702,281
Revenue
$567,976
Expenses
$586,410
Net income
-$18,434
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.59$1.87$1.72$1.80$0.81$0.99
2023Detailed filing. Detailed filing data is available for this year.$2.37$1.67$0.70$0.57$0.59$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$1.33$0.72$0.43$0.51$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.57$0.72$0.85$1.16$0.31$0.85