Financial Wellness Institute Inc
- Assets
- $274.3k
- Revenue
- $305.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Deptford, NJ
- Founding
- 10/2003
- Data as of
- 12/2023
- EIN
- 75-3109240
Organization Overview
Financial Wellness Institute Inc is located in Deptford, NJ. The organization was established in 2003. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Financial Wellness Institute Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Wellness Institute Inc 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 12/2023, Financial Wellness Institute Inc generated $305.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $292.5k during the year ending 12/2023. While expenses have increased by 8.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
STRENGTHEN INDIVIDUALS AND FAMILIES AND EMPOWERING COMMUNITIES TOWARD ECONOMIC STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN SUPPORT OF OUR MISSION THE FINANCIAL WELLNESS INSTUTUTE CONDUCTED PROGRAMS AND PROVIDED SUPPORT TO INDIVIDUALS AND FAMILIES IN THE FOLLOWING PROGRAMS:1. FINANCIAL EDUCTION & ECONOMIC EMPOWERMENT2, HOUSING 3. OTHER PROGRAMS SMALL BUSINESS TECHNICAL SUPPORT WORKFORCE DEVELOPMENT - CAREER SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wanda Hardy CEO | Officer | 40 | $127,187 |
Tiffanie Talley-Baines Secretary | OfficerTrustee | 1 | $0 |
Vincent Spano Trustee | Trustee | 1 | $0 |
Melissa Fox Trustee | Trustee | 1 | $0 |
Crystal Dundas Vice Chair | OfficerTrustee | 2 | $0 |
Darrin Gould Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $87,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $195,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,740 |
| Total Program Service Revenue | $22,983 |
| 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 | $305,723 |
| 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. | $127,187 |
| Compensation of current officers, directors, key employees. | $12,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,711 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,593 |
| Payroll taxes | $12,760 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,106 |
| Fees for services: Accounting | $15,396 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,666 |
| Advertising and promotion | $6,774 |
| Office expenses | $11,565 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,397 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,787 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,971 |
| All other expenses | $3,277 |
| Total functional expenses | $292,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,033 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $127,501 |
| 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 | $3,182 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,617 |
| Total assets | $274,333 |
| Accounts payable and accrued expenses | $27,800 |
| 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 | $225,553 |
| Other liabilities | $0 |
| Total liabilities | $253,353 |
| Net assets without donor restrictions | $20,980 |
| Net assets with donor restrictions | $0 |
| 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 | $274,333 |