Financial Alliance For Racial Equity
- Assets
- $87.7k
- Revenue
- $385.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbus, OH
- Founding
- Data as of
- 12/2023
- EIN
- 92-0759505
Organization Overview
Financial Alliance For Racial Equity is located in Columbus, OH. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Alliance For Racial Equity is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE RACIAL DIVERSITY, DRIVE GREATER EQUITY, AND FOSTER INCLUSION AND BELONGING WITHIN THE FINANCIAL SERVICES INDUSTRY AND COMMUNITIES THAT IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FARE SPONSORED THE ANNUAL EBRI POLICY FORUM IN 2023 - WHICH PROVIDED THE OPPORTUNITY FOR HBCU STUDENTS TO GAIN INDUSTRY EXPOSURE DURING THE CONFERENCE AND ALSO NETWORK WITH EBRI DEI COUNCIL MEMBERS AND GENERAL ATTENDEES. ONE HBCU STUDENT ATTENDED THE EVENT (DEJA COTTMAN, MORGAN STATE) AND SHE WAS ABLE TO ATTEND DIFFERENT SESSIONS FOCUSED ON RETIREMENT PLANNING SUCH AS "STRENGTHENING FINANCIAL SECURITY THROUGH EMPLOYEE BENEFITS". THE OPPORTUNITY IN 2024 IS TO RECRUIT MORE HBCU STUDENTS TO ATTEND AND HELP THEM UNDERSTAND THE ROI & BENEFITS OF ATTENDING.
HBCU PACKAGES FARE'S SPONSORSHIP ACTIVITIES AT HBCUS, INCLUDING CAREER FAIRS, LUNCH AND LEARNS, SEMINARS, AND LOBBY DAYS. - IN 2023, FARE SPONSORED THE HOWARD SCHOOL OF BUSINESS CAREER FAIR IN BOTH SPRING AND FALL, ALLOCATING ADDITIONAL FUNDS TO SEND REPRESENTATIVES FROM FARE-MEMBER HBCUS AND INDUSTRY ORGANIZATIONS. - FARE ALSO HOSTED A LOBBY DAY AND SEMINAR AT HOWARD UNIVERSITY. - FOR 2024, FARE INTENDS TO ORGANIZE SIMILAR ENGAGEMENTS AT OTHER HBCUS, REQUIRING PROACTIVE PLANNING AND COORDINATION.
FARE'S SIGNATURE EVENT TO BRING TOGETHER PARTNERS AND STUDENTS FOR RECRUITMENT AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES.
FIRM PARTNER MENTOR STUDENTS AT PARTNERING HBCUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Rodriguez President An | OfficerTrustee | 3 | $0 |
Cynthia Hoes Vice Preside | OfficerTrustee | 3 | $0 |
Keith Hinze Secretary | OfficerTrustee | 3 | $0 |
David Dokko Assistant Se | OfficerTrustee | 3 | $0 |
Timonthy Dwyer Treasurer | OfficerTrustee | 3 | $0 |
Tonya Walker Assistant Tr | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $385,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,000 |
| Total Program Service Revenue | $0 |
| 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 | $385,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $61,293 |
| Office expenses | $699 |
| Information technology | $110,508 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,651 |
| 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 | $2,415 |
| All other expenses | $0 |
| Total functional expenses | $304,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $87,659 |
| Pledges and grants receivable | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $87,659 |
| Accounts payable and accrued expenses | $7,176 |
| 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 | $7,176 |
| Net assets without donor restrictions | $80,483 |
| 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 | $87,659 |