Betterfi
- Assets
- $369.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 2
- Location
- Coalmont, TN
- Founding
- 05/2018
- Data as of
- 12/2023
- EIN
- 82-3083483
Organization Overview
Betterfi is located in Coalmont, TN. The organization was established in 2018. 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 12/2023, Betterfi employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Betterfi 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, Betterfi generated $136.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $237.3k during the year ending 12/2023. 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
2023
Describe the Organization's Program Activity:
Part 3
PROVIDED FINANCIAL ASSISTANCE TO LOW-INCOME INDIVIDUALS THROUGH NEW & REFINANCED CONSUMER LOANS OFFERING LOWER INTEREST RATES AND LONGER PAYOFF. WE OFFER FREE INCOME TAX FILING AS WELL AS COACHING FOR BETTER BUDGETING OF PERSONAL FINANCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeannine Clements Vice-Chair | 3 | $0 | |
John Goodson Director | 1 | $0 | |
Barry Rollins Director | 2 | $0 | |
Nicolette Hamilton Director | 1 | $0 | |
Andy Anderson Director | 1 | $0 | |
Jayna Johnson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,566 |
| Total Program Service Revenue | $24,179 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $136,745 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $126,538 |
| Professional fees and other payments to independent contractors | $14,252 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $96,514 |
| Total expenses | $237,304 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $272,417 |
| Other assets | $0 |
| Total assets | $369,377 |
| Total liabilities | $5,252 |
| Net assets or fund balances | $364,125 |