Financial Health Network Inc

Organization Overview

Financial Health Network Inc, operating under the name Financial Health Network, is located in Chicago, IL. The organization was established in 2006. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Financial Health Network employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Health Network is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Financial Health Network generated $18.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.1% each year . All expenses for the organization totaled $18.4m during the year ending 12/2021. While expenses have increased by 6.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Financial Health Network has awarded 133 individual grants totaling $4,694,473. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FINANCIAL HEALTH NETWORK MISSION IS TO IMPROVE FINANCIAL HEALTH FOR ALL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL HEALTH NETWORK LEADS A NETWORK OF COMPANIES WHICH FOSTERS AND ACCELERATES CONSUMER-FOCUSED INNOVATION. THROUGH ITS COMPASS PRINCIPLES AND A LINEUP OF PROPRIETARY RESEARCH, INSIGHTS AND EVENTS, FINANCIAL HEALTH NETWORK INFORMS, ADVISES AND CONNECTS MEMBERS OF ITS NETWORK TO SEED THE INNOVATION THAT WILL TRANSFORM THE FINANCIAL SERVICES LANDSCAPE AND IMPROVE THE LIVES OF LOW AND MODERATE-INCOME AMERICANS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Statement Communication
Website Design
$781,806
Nataly Sabharwal
Advisory
$160,275
Artemis Strategy Group Llc
Programmatic Research
$149,000
Bridge Partners Llc
Recruiting
$147,715
David M Silberman
Advisory
$115,520
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$13,487,153
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$13,487,153
Total Program Service Revenue$4,529,762
Investment income $4,271
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $582,053
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,603,239

Grants Awarded

Over the last fiscal year, Financial Health Network Inc has awarded $700,000 in support to 10 organizations.

Grant RecipientAmount

New York, NY

PURPOSE: SUPPORTING INNOVATORS IN IDENTIFYING AND SCALING TECHNOLOGYIES TO IMPROVE FINANCIAL SERVICES THAT HELP INCREASE SAVINGS, IMPROVE CREDIT, AND BUILD ASSETS.

$125,000

HENRY STREET SETTLEMENT

Org PageRecipient Profile

New York, NY

PURPOSE: SUPPORTING INNOVATORS IN IDENTIFYING AND SCALING TECHNOLOGYIES TO IMPROVE FINANCIAL SERVICES THAT HELP INCREASE SAVINGS, IMPROVE CREDIT, AND BUILD ASSETS.

$125,000

GREATER BIRMINGHAM MINISTRIES

Org PageRecipient Profile

Birmingham, AL

PURPOSE: PROMOTING FINANCIAL HEALTH BY CONNECTING RETURNING CITIZENS WITH TOOLS AND RESOURCES TO BUILD RESILIENCE AND THRIVE

$75,000

RESTORATIVE STRATEGIES LLC

PURPOSE: SUPPORTING FINTECH AND NFPS TO CULTIVATE AND SCALE INNOVATION THAT ADVANCES FINANCIAL HEALTH OF LOW-TO MODERATE-INCOME CONSUMERS AND UNDERSERVED COMMUNITIES.

$65,000

AUBURN UNIVERSITY

PURPOSE: SUPPORTING FINTECH AND NFPS TO CULTIVATE AND SCALE INNOVATION THAT ADVANCES FINANCIAL HEALTH OF LOW-TO MODERATE-INCOME CONSUMERS AND UNDERSERVED

$60,000

THE JUSTICE & ACCOUNTABILITY CENTER OF LOUISIANA

Org PageRecipient Profile

New Orleans, LA

PURPOSE: PROMOTING FINANCIAL HEALTH BY CONNECTING RETURNING CITIZENS WITH TOOLS AND RESOURCES TO BUILD RESILIENCE AND THRIVE

$50,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 10 grants that Financial Health Network Inc has recieved totaling $4,906,913.

Awarding OrganizationAmount
The Blackrock Charitable Foundation

New York, NY

PURPOSE: SAVINGS AND FINANCIAL RESILIENCY

$2,635,453
Citi Foundation

New York, NY

PURPOSE: US FINANCIAL HEALTH PULSE RESEARCH INITIATIVE

$1,525,000
Just Capital Foundation Inc

New York, NY

PURPOSE: WORKER FINANCIAL WELLNESS INITIATIVE

$281,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$180,710
The Institute Of Consumer Money Management

Raleigh, NC

PURPOSE: RESEARCH PROJECT

$150,000
Ernst Family Foundation

Dallas, TX

PURPOSE: PUBLIC SERVICE

$35,000
View Grant Recipient Profile

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