Moneythink
- Assets
- $2.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 9
- Location
- Chicago, IL
- Founding
- 10/2010
- Data as of
- 12/2021
- EIN
- 27-1052771
Organization Overview
Moneythink is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Moneythink employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moneythink 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, Moneythink generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 1.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL EDUCATION AND PEER MENTORSHIP TO 11TH AND 12TH GRADERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONEYTHINK 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Lachs CEO | Officer | 40 | $194,240 |
Sara O'hearn Product Director | 40 | $151,155 | |
Patrice Berry Secretary | OfficerTrustee | 2.5 | $0 |
Gregory Nance Chairman | OfficerTrustee | 3 | $0 |
Gary Pelissier Treasurer | OfficerTrustee | 2.5 | $0 |
Matt Taylor Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glassfrog Technical | 6/29/16 | $154,928 |
Causelabs Technical | 6/29/16 | $123,770 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $137,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,469,206 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,606,956 |
| Total Program Service Revenue | $0 |
| Investment income | $94 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,607,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $209,918 |
| Compensation of current officers, directors, key employees. | $18,893 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $533,468 |
| Pension plan accruals and contributions | $16,229 |
| Other employee benefits | $40,058 |
| Payroll taxes | $55,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,723 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $181,336 |
| Advertising and promotion | $56,706 |
| Office expenses | $11,574 |
| Information technology | $28,766 |
| Royalties | $0 |
| Occupancy | $3,974 |
| Travel | $684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,676 |
| Interest | $9,745 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $108,502 |
| Insurance | $7,751 |
| All other expenses | $0 |
| Total functional expenses | $1,305,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,023,270 |
| Savings and temporary cash investments | $500,464 |
| Pledges and grants receivable | $884,624 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,484 |
| Net Land, buildings, and equipment | $381,788 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,812,630 |
| Accounts payable and accrued expenses | $40,475 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $635,125 |
| Total liabilities | $675,600 |
| Net assets without donor restrictions | $255,406 |
| Net assets with donor restrictions | $1,881,624 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,812,630 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Moneythink has recieved totaling $250,000.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $100,000 |
Taco Bell Foundation Inc Irvine, CA PURPOSE: TO PROVIDE SUPPORT SERVICES AND PROGRAMS FOR UNDERPRIVILEGED CHILDREN, TO HELP THEM GROW UP | $100,000 |
Tides Foundation San Francisco, CA PURPOSE: QUALITY EDUCATION | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Iowa Community Action Organization Mason City, IA | $4,791,194 | $9,251,857 |
Family Credit Counseling Service Inc Chicago, IL | $9,585,248 | $7,733,487 |
Northwest Side Housing Center Chicago, IL | $2,986,371 | $4,446,523 |
Usa Cares Inc Louisville, KY | $1,622,546 | $2,426,137 |
Consumer Credit Of Des Moines Des Moines, IA | $2,361,855 | $1,382,576 |
Securefutures Foundation Inc Milwaukee, WI | $1,756,343 | $1,837,399 |
Moneythink Chicago, IL | $2,812,630 | $2,607,050 |
Community Life Line East Saint Louis, IL | $0 | $1,259,737 |
Prosperity Connection St Louis, MO | $1,393,127 | $1,257,430 |
Center For Siouxland Sioux City, IA | $2,429,304 | $818,535 |
A Debt Coach Credit Counseling Service Inc Florence, KY | $126,947 | $911,124 |
Advocacy Programs Of Family Service Association Of Sheboygan Inc Sheboygan, WI | $1,760,753 | $891,187 |