Change Machine
- Assets
- $5.8m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 40
- Location
- Brooklyn, NY
- Founding
- 11/2007
- Data as of
- 09/2021
- EIN
- 76-0833915
Organization Overview
Change Machine is located in Brooklyn, NY. The organization was established in 2007. According to its NTEE Classification (P50) the organization is classified as: Personal Social Services, under the broad grouping of Human Services and related organizations. As of 09/2021, Change Machine employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Change Machine 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 09/2021, Change Machine generated $6.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $4.9m during the year ending 09/2021. 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
CHANGE MACHINE'S VISION IS AN EQUITABLE ECONOMY IN WHICH WE ALL THRIVE. CHANGE MACHINE BUILDS FINANCIAL SECURITY THROUGH PEOPLE-POWERED TECHNOLOGY. WE CHAMPION THE ASPIRATIONS OF THOSE WHO ARE MOST ECONOMICALLY DISADVANTAGED BY OPPRESSIVE PUBLIC POLICIES AND PRACTICES NAMELY BLACK AND BROWN WOMEN WHO NAVIGATE FINANCIAL INSECURITY. THEIR SUCCESS MEANS SUCCESS FOR ALL. GROUNDED IN THE EXPERTISE AND SOLUTIONS OF FINANCIAL COACHES AND CUSTOMERS, OUR TECHNOLOGY REACHES SOCIAL SERVICE ORGANIZATIONS AND PUBLIC AGENCIES NATIONWIDE, TRANSFORMING HOW THEY WORK WITH PEOPLE TO ACHIEVE THEIR FINANCIAL GOALS. OUR DATA AND RESEARCH SHAPE LASTING CHANGE THAT ADDRESSES THE ECONOMIC EFFECTS OF SLAVERY AND PATRIARCHAL POLICIES REMOVES BARRIERS TO FINANCIAL SECURITY AND SHRINKS THE GENDER AND RACIAL WEALTH GAP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCT DEVELOPMENT (PLATFORM) - BUILDING FINANCIAL SECURITY USING PEOPLE-POWERED TECHNOLOGY IS CORE TO CHANGE MACHINES MISSION. ITS REVOLUTIONARY CLOUD-BASED PLATFORM, WHICH OPERATES AS A B2B2C SOFTWARE AS A SERVICE (SAAS) SOCIAL ENTERPRISE, PROVIDES A SINGLE PLATFORM WHERE PRACTITIONERS CAN LEARN BEST FINANCIAL COACHING PRACTICES; ACCESS TOOLS AND INFORMATION; AND PARTICIPATE IN A PROFESSIONAL SOCIAL NETWORK SPECIFICALLY DESIGNED FOR THE FIELD. BUILT BY PRACTITIONERS FOR PRACTITIONERS, CHANGE MACHINES FINANCIAL COACHING PLATFORM PROVIDES A ONE-STOP SHOP FOR EFFECTIVE RESOURCES PRACTITIONERS CAN USE TO ADDRESS THEIR CUSTOMERS UNDERLYING FINANCIAL INSECURITY.
DIRECT SERVICES - CHANGE MACHINES DIRECT SERVICES TEAM APPLIES A HOLISTIC PARTNERSHIP APPROACH, COMBINED WITH DIRECT SERVICE PROVISION, WHICH BUILD FINANCIAL SECURITY FOR LOW-INCOME COMMUNITIES AT SCALE. THE TEAM ENGAGES REGIONAL AND SECTOR-BASED NONPROFITS, PROVIDING A VARIETY OF HIGH-TOUCH SERVICES INCLUDING DIRECT ACCESS TO CHANGE MACHINES EXPERIENCED FINANCIAL COACHES, TRAINING AND CAPACITY BUILDING, AND DATA-BASED INSIGHTS TO PROMOTE POLICY SOLUTIONS AND SYSTEMIC CHANGE.
CAPACITY BUILDING - CHANGE MACHINES BUSINESS-TO-BUSINESS CONSULTING SERVICES ARE DESIGNED TO BUILD CAPACITY AT ORGANIZATIONS THAT WORK WITH LOW-INCOME PEOPLE LOCALLY AND NATIONALLY. THE TEAM PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO BUILD FINANCIAL SECURITY STRATEGIES INTO THE DAILY INTERACTIONS OF FRONTLINE STAFF AT PARTNER ORGANIZATIONS. THIS INCLUDES TRAINING FOR FRONTLINE STAFF TO ENGAGE THEIR CUSTOMERS IN CONVERSATIONS ABOUT PERSONAL FINANCE, AS WELL AS SUPPORT FOR LEADERSHIP TO FULLY IMPLEMENT AN INTEGRATED APPROACH TO FINANCIAL SECURITY SERVICES WITHIN THEIR PROGRAMS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mae Watson Grote Founder And CEO | Officer | 40 | $213,712 |
Haidee Cabusora Chief Prog Officer | 40 | $172,147 | |
Katherine Reeves Chief Bus Dev Ofcr | 40 | $155,345 | |
Brianna C Mckinney Dir Of Development | 40 | $103,165 | |
Marc Khouzami Board Chair | OfficerTrustee | 3 | $0 |
Andy Tuckett Treasurer | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Big Duck Studio Inc Marketing Consultants | 9/29/21 | $157,000 |
Andela Engineering/prod. Devel. | 9/29/21 | $211,834 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $440,390 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,288,891 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,729,281 |
| Total Program Service Revenue | $449,483 |
| Investment income | $530 |
| 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 | $6,179,294 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,677,061 |
| Pension plan accruals and contributions | $123,784 |
| Other employee benefits | $251,124 |
| Payroll taxes | $218,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $405,711 |
| Advertising and promotion | $24,992 |
| Office expenses | $32,410 |
| Information technology | $622,905 |
| Royalties | $0 |
| Occupancy | $238,365 |
| Travel | $2,373 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,028 |
| Interest | $27,188 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,139 |
| Insurance | $26,193 |
| All other expenses | $0 |
| Total functional expenses | $4,859,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,543,364 |
| Savings and temporary cash investments | $370,852 |
| Pledges and grants receivable | $1,434,932 |
| Accounts receivable, net | $41,955 |
| 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 | $85,947 |
| Net Land, buildings, and equipment | $270,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $84,852 |
| Total assets | $5,832,796 |
| Accounts payable and accrued expenses | $173,801 |
| Grants payable | $0 |
| Deferred revenue | $111,541 |
| 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 | $429,846 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $43,262 |
| Total liabilities | $758,450 |
| Net assets without donor restrictions | $890,828 |
| Net assets with donor restrictions | $4,183,518 |
| 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 | $5,832,796 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Change Machine has recieved totaling $4,462,045.
| Awarding Organization | Amount |
|---|---|
Rockefeller Foundation New York, NY PURPOSE: TOWARD THE COSTS OF ITS TAX TRUTHS PROJECT TO GENERATE WIDESPREAD PUBLIC SUPPORT FOR A WORKER-CENTERED TAX CODE THAT BENEFITS ALL PEOPLE | $1,880,597 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF FINANCIAL HEALTH | $825,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF FINANCIAL HEALTH | $750,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: CHANGE MACHINE: THE CATALYST FOR FINANCIAL SECURITY | $500,000 |
Citi Foundation New York, NY PURPOSE: TAX TRUTHS PROJECT | $250,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Medical Debt Resolution Inc Long Island City, NY | $56,504,785 | $17,143,600 |
Ten Thousand Villages Akron, PA | $14,547,846 | $9,360,200 |
Disability Allies Inc Woodbridge, NJ | $6,966,940 | $10,816,279 |
Center For Humanistic Change Of New Jersey Inc Stanhope, NJ | $11,543,417 | $9,855,582 |
Awakening Sanctuary Inc Burlington, VT | $7,357,011 | $5,820,072 |
Make The Road States Inc Brooklyn, NY | $7,408,251 | $7,425,065 |
Change Machine Brooklyn, NY | $5,832,796 | $6,179,294 |
Cumac Echo Inc Paterson, NJ | $2,528,208 | $5,734,886 |
Hot Bread Kitchen Ltd New York, NY | $8,864,419 | $5,150,030 |
Harmonia Collaborative Care Inc Derby, NY | $1,756,164 | $2,977,086 |
Support-Link Inc Queensbury, NY | $1,296,212 | $2,954,420 |
Kingston Self-Help Center Inc Dba Peoples Place Kingston, NY | $3,102,092 | $3,078,211 |