Washington Asset Building Coalition
- Assets
- $56.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Seattle, WA
- Founding
- 09/2011
- Data as of
- 12/2021
- EIN
- 27-1406157
Organization Overview
Washington Asset Building Coalition is located in Seattle, WA. The organization was established in 2011. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Asset Building Coalition 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, Washington Asset Building Coalition generated $111.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $92.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
WABC IS THE LEAD ORGANIZATION IN WASHINGTON STATE FOR PROMOTING POLICIES, PROGRAMS AND STRATEGIES FOR HELPING LOW INCOME INDIVIDUALS AND COMMUNITIES BUILD ASSETS THAT WILL PROVIDE THEM WITH AN ECONOMIC FOUNDATION TO MOVE INTO THE MIDDLE CLASS. TO ACCOMPLISH THIS MISSION, IN 2021 WABC SERVED AS THE CONVENER FOR THE 15 LOCAL ASSET BUILDING COALITIONS IN WASHINGTON STATE, FACILITATING QUARTERLY MEETINGS, TOPICAL TRAININGS AS NEEDED AND PROVIDING TECHNICAL ASSISTANCE ON SAVINGS PROGRAMS FOR LOW-INCOME INDIVIDUALS, CHILD SAVINGS ACCOUNTS, RETIREMENT SAVINGS AND FINANCIAL EDUCATION. WABC WORKED EXTENSIVELY ON PROMOTING THE ESTABLISHMENT OF A STATEWIDE RETIREMENT SAVINGS SYSTEM FOR LOWER-INCOME AND FIRST-TIME WORKERS AS WELL AS PROMOTION AND EDUCATION AROUND THE PROPOSED WASHINGTON FUTURES FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Bowman Executive Director | 40 | $69,000 | |
Todd Pietzch Board Chairman | 0.5 | $0 | |
Paul Knox Secretary/treasurer | 0.25 | $0 | |
Molly Morris Board Member | 0.25 | $0 | |
Marcy Bowers Board Member | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $111,000 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $72,000 |
| Professional fees and other payments to independent contractors | $6,100 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $410 |
| Other expenses | $14,161 |
| Total expenses | $92,671 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $56,683 |
| Other assets | $0 |
| Total assets | $56,683 |
| Total liabilities | $2,721 |
| Net assets or fund balances | $53,962 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Washington Asset Building Coalition has recieved totaling $10,546.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of South Puget Sound Olympia, WA PURPOSE: OPERATIONAL FUNDS | $5,546 |
Credit Unions In The State Of Washington Tukwila, WA PURPOSE: DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Seattle Community College Foundation Seattle, WA | $11,054,287 | $7,124,485 |
Debt Reduction Services Inc Boise, ID | $2,051,232 | $3,505,224 |
Cricket Debt Counseling Portland, OR | $3,870,920 | $1,652,866 |
Financial Beginnings Portland, OR | $300,011 | $690,120 |
Financial Beginnings Oregon Portland, OR | $717,600 | $755,580 |
Consumer Credit Counseling Service Of Southern Oregon Inc Medford, OR | $1,219,504 | $725,547 |
Innovative Changes Sherwood, OR | $367,695 | $0 |
Action Payee Services Inc Tigard, OR | $109,157 | $215,402 |
Consumer Education And Training Services Seattle, WA | $276,555 | $228,882 |
Lighthouse Financial Foundation Vancouver, WA | $116,448 | $123,323 |
Integrity Plus Gresham, OR | $3,617 | $0 |
Evergreen Financial Counseling Salem, OR | $69,080 | $0 |