Financial Alliance For Women Inc
- Assets
- $1.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Brooklyn, NY
- Founding
- 01/2012
- Data as of
- 12/2021
- EIN
- 27-4697912
Organization Overview
Financial Alliance For Women Inc is located in Brooklyn, NY. The organization was established in 2012. According to its NTEE Classification (S81) the organization is classified as: Womens Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Financial Alliance For Women Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Alliance For Women Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Financial Alliance For Women Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 8.0% 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 ALLIANCE FOR WOMEN PROPELS THE GROWTH OF WOMEN IN BUSINESS AND WOMEN'S WEALTH CREATION, WHILE GENERATING SUPERIOR BUSINESS OUTCOMES FOR OUR MEMBER FINANCIAL INSTITUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND KNOWLEDGE - COLLATES THE RESULTS, RESEARCH, EXPERIENCE AND ADVICE OF MEMBER BANKS WITH SUCCESSFUL WOMEN'S MARKET PROGRAMS, AS WELL AS CONDUCTS MARKET INTELLIGENCE RESEARCH ON THE FEMALE ECONOMY.
PEER LEARNING AND NETWORKING - OFFERS MEMBERS THE OPPORTUNITY TO LEARN PRACTICAL WISDOM FROM THE REAL-WORLD EXPERIENCES OTHER MEMBERS HAVE ON WHAT IT TAKES TO BUILD A PROFITABLE WOMEN'S MARKET PROGRAM.
COMMUNICATIONS AND ADVOCACY - THE GOAL OF THE ALLIANCE'S COMMUNICATIONS AND ADVOCACY SERVICE OFFERING IS TO POSITION THE ALLIANCE AS A TECHNICAL AND THOUGHT LEADER IN THE FINANCIAL INCLUSION SPACE BY REACHING ITS MEMBER BANKS, POTENTIAL MEMBER BANKS, POLICYMAKERS, THE MEDIA, WOMEN'S ORGANIZATIONS, AND THE INFORMED PUBLIC WITH TIMELY, RELIABLE, ACTIONABLE, AND THOUGHT-PROVOKING INFORMATION, DELIVERED ACROSS MULTIPLE CHANNELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Inez Murray Executive Director | OfficerTrustee | 40 | $257,775 |
Rebecca Ruf Vice President Of Programs | 40 | $178,643 | |
Paul Jenkins Secretary | OfficerTrustee | 1 | $0 |
Steven Puig Treasurer | OfficerTrustee | 1 | $0 |
Ann Cairns Chair | OfficerTrustee | 1 | $0 |
Sharmila Hardi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $148,840 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $471,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $620,402 |
| Total Program Service Revenue | $506,605 |
| Investment income | $0 |
| 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 | $1,127,007 |
| 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. | $438,334 |
| Compensation of current officers, directors, key employees. | $65,750 |
| Compensation to disqualified persons | $99,150 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $30,681 |
| Other employee benefits | $0 |
| Payroll taxes | $32,868 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,647 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $622,353 |
| Advertising and promotion | $0 |
| Office expenses | $10,266 |
| Information technology | $3,246 |
| Royalties | $0 |
| Occupancy | $1,306 |
| Travel | $1,094 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,466 |
| All other expenses | $0 |
| Total functional expenses | $1,292,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $963,999 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $26,065 |
| Accounts receivable, net | $16,813 |
| 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 | $2,117 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600 |
| Total assets | $1,009,594 |
| Accounts payable and accrued expenses | $36,653 |
| Grants payable | $0 |
| Deferred revenue | $310,433 |
| 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 | $63,775 |
| Total liabilities | $410,861 |
| Net assets without donor restrictions | $568,733 |
| Net assets with donor restrictions | $30,000 |
| 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 | $1,009,594 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Financial Alliance For Women Inc has recieved totaling $170,700.
| Awarding Organization | Amount |
|---|---|
United Nations Foundation Inc Washington, DC PURPOSE: WMN & POP | $170,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Diaspora Community Services Inc Brooklyn, NY | $1,603,235 | $3,729,711 |
Junior League Of The City Of New York Inc New York, NY | $6,819,544 | $3,036,986 |
National Council Of Jewish Women Incorporated Brooklyn, NY | $980,620 | $1,979,196 |
National Council Of Jewish Women Incorporated New York, NY | $4,624,296 | $1,975,064 |
Women S Forum Of New York Inc New York, NY | $2,463,388 | $1,301,139 |
Ladies Village Improvement Society Of East Hampton Long Island Inc East Hampton, NY | $8,787,764 | $1,844,966 |
Financial Alliance For Women Inc Brooklyn, NY | $1,009,594 | $1,127,007 |
New York State Elks Association Major Projects Inc Averill Park, NY | $8,424,682 | $1,087,018 |
National Council Of Jewish Women Incorporated Livingston, NJ | $4,732,322 | $1,165,503 |
Vermont Works For Women Inc Winooski, VT | $1,426,293 | $1,110,077 |
Junior League Of Philadelphia Inc Ardmore, PA | $4,132,675 | $949,191 |
National Council Of Jewish Women Incorporated Pittsburgh, PA | $2,527,052 | $1,182,204 |