Delaware Financial Literacy Institute
- Assets
- $64.3k
- Revenue
- $386.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Claymont, DE
- Founding
- 09/2001
- Data as of
- 12/2018
- EIN
- 51-0411299
Organization Overview
Delaware Financial Literacy Institute is located in Claymont, DE. The organization was established in 2001. 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 12/2017, Delaware Financial Literacy Institute employed 9 individuals. Delaware Financial Literacy Institute 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 12/2018, Delaware Financial Literacy Institute generated $386.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $495.6k during the year ending 12/2018. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 4 years. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE FINANCIAL LITERACY EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONEY SCHOOL - A COMMUNITY BASED EFFORT TO PROVIDE FREE FINANCIAL EDUCATION TO DELAWAREANS ON TOPICS FROM BASIC BUDGETING TO INVESTING. THERE WERE 703 CLASSES OFFERED IN 2017. THE CLASSES ARE TAUGHT BY VOLUNTEERS.
MICRO BUSINESS INCUBATOR - A MIXED-USE INCUBATOR THAT WILL HOUSE AND PROVIDE RESOURCES FOR STARTUP AND EMERGING BUSINESSES.
PURSES TO PORTFOLIOS - A PROGRAM TO HELP WOMEN BETTER UNDERSTAND HOW TO MANAGE THEIR MONEY. THE PROGRAM PROVIDES ONGOING FINANCIAL EDUCATION AND THERE IS AN ANNUAL CELEBRATION EVENT AND AN ANNUAL "GIRLS NIGHT OUT" EVENT.
BANK AT SCHOOL - PROGRAM DEVELOPS ETHIC OF SAVING BY BRINGING "BANKING" TO 3 - 8 GRADE STUDENTS AT 80 SCHOOLS. BANKS COME INTO SCHOOLS WEEKLY TO ACCEPT DEPOSITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronni K Cohen Executive Director | Trustee | 40 | $97,185 |
Joel Schiller President | OfficerTrustee | 2 | $0 |
Terri Keene Vice President | OfficerTrustee | 1 | $0 |
Renee Roberts Treasurer | OfficerTrustee | 1 | $0 |
Yvonne Saville Secretary | OfficerTrustee | 1 | $0 |
Gus Cheatham Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $347,040 |
| Investment income | $869 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $876 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $386,229 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $95,758 |
| Other salaries and wages | $117,485 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,056 |
| Payroll taxes | $18,948 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,048 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,774 |
| Advertising and promotion | $4,482 |
| Office expenses | $22,464 |
| Information technology | $12,338 |
| Royalties | $0 |
| Occupancy | $36,933 |
| Travel | $353 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,837 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,413 |
| All other expenses | $0 |
| Total functional expenses | $495,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $54,641 |
| Pledges and grants receivable | $2,962 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $64,330 |
| Accounts payable and accrued expenses | $17,252 |
| 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 | $0 |
| Total liabilities | $17,252 |
| Net assets without donor restrictions | -$125,696 |
| Net assets with donor restrictions | $172,774 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $47,078 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Delaware Financial Literacy Institute has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Garden State Consumer Credit Counseling Inc Manalapan, NJ | $15,368,790 | $14,807,314 |
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumer Credit Counseling Service Of Maryland And Delaware Inc Columbia, MD | $10,074,197 | $2,872,253 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |
Maryland Capital Enterprises Inc Salisbury, MD | $12,872,521 | $4,572,736 |
Cash Campaign Of Maryland Inc Baltimore, MD | $1,565,207 | $2,174,273 |
Dfree Global Foundation Inc Somerset, NJ | $276,547 | $1,210,274 |
Salt Financial Literacy International Hollidaysburg, PA | $86,865 | $697,593 |
Housing Options & Planning Enterprises Inc Oxon Hill, MD | $202,491 | $697,836 |
Credit Counseling Center Richboro, PA | $590,787 | $438,639 |
Maranatha Ministry Inc Waynesboro, PA | $264,850 | $280,884 |