Greenpath INC FY2022 filing

Tax-deductible

Farmingtn Hls, MI501(c)(3)Since 1967Human ServicesEIN 38-6142925Revenue $41.7M in FY2022

On file with the IRSgreenpath.org36500 Corporate Dr, 48331-3553 · Farmingtn Hls, MITax-exempt since Aug 1967Publicly supported — 509(a)(2)

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Empowering people to lead financially healthy lives.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$2.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $4.1M a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.8M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $1.5M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$20.3M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41.7M
-15% vs prior year
Spent
$43.4M
To programs
87%
Net assets
$38.0M
By yearFY2020–FY2024
Revenue
$41.7M
FY2022▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$44.9M
FY2021$48.8M
FY2022$41.7M
FY2023$53.7M
FY2024$46.9M
Expenses
$43.4M
FY2022▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$40.9M
FY2021$40.1M
FY2022$43.4M
FY2023$46.0M
FY2024$45.1M
Net assets
$38.0M
FY2022▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$32.7M
FY2021$41.2M
FY2022$38.0M
FY2023$47.5M
FY2024$49.3M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1967.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $37.9M Management & general 8% · $3.7M Fundraising 4% · $1.9M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

22 people listed on the 990; $2.8M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$504,816Pt VII · Sec A
Chief Operating Officer
$352,175Pt VII · Sec A
Chief Information Officer
$321,561Pt VII · Sec A
Chief Financial Officer
$274,276Pt VII · Sec A
Chief Business Development Officer
$255,133Pt VII · Sec A
Chief People Officer
$240,279Pt VII · Sec A
Director of Client Services & Program Performance
$216,768Pt VII · Sec A
Director of Stakeholder Engagement & Cco
$183,316Pt VII · Sec A

Kristen Holt’s $474K as President & CEO is at the 95th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kristen Holt$474,384$506,998$504,816$466,292$497,463
Donna McNeill$332,592$347,820$352,175$333,349$345,939
Sireesha Mandava$325,434$327,886$321,561$312,277$320,769
Richard T Hollis$265,414$284,124$274,276$269,323$285,280
Richard Bialobrzeski$263,194$281,526$255,133$250,725$238,594
Susan Elizabeth Duncan-Murphy$238,944$251,616$240,279$206,861—
Donna Doleman———$242,963$239,691
David Flores$231,842$229,959$216,768$186,021$218,336

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps people achieve financial well-being and healthy money habits.

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Provided by the organization

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2 programs · $37.9M · in their own filed words · FY2022
01

Consumer credit counseling, education, and financial wellness programs: greenpath delivers free 1-ON-1 financial counseling, credit counseling, student loan counseling, pre-filing bankruptcy counseling, financial education and debt management services to people in all 50 states.

$34.0Mprogram expense
02

Housing Counseling

As a department of housing and urban development (hud) intermediary and housing counseling agency, greenpath provides MORTGAGE/RENT delinquency counseling, pre-purchase home buyer counseling and education, and reverse mortgage (hecm) counseling to people in all 50 states.

$3.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$41.7M
Ln 12
Fees for servicesLn 2g$31.8M
Gifts and grantsLn 1h$10.5M
Investment incomeLn 3$225K
Money outPt IX
$43.4M
Ln 25
Programscol B$37.9M
Managementcol C$3.7M
Fundraisingcol D$1.9M
Owns and owesPt X
$38.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$58.3M
LiabilitiesLn 26$20.3M
PeoplePt VI, VII
22
listed · VII A
PaidVII A11
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.5M
Government grantsLn 1e$5.6M
Fees for servicesLn 2g$31.8M
Investment incomeLn 3$225K
Gains on assetsLn 7−$851K
Total revenueLn 12$41.7M
Assets in detailPt X, end of year
CashLn 1$1.2M
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$13.4M
Land, buildings, equipmentLn 10c$28.8M
Other assetsLn 15$8.4M
Total assetsLn 16$58.3M
LiabilitiesLn 26$20.3M
Net assetsLn 32$38.0M
OperationsPt I, VI
EmployeesI 5467
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$3.0M$1.2M
InvestmentsLn 11–13$18.0M$13.4M
Land, buildings, equipmentLn 10c$28.2M$28.8M
Total assetsLn 16$64.4M$58.3M
LiabilitiesLn 26$23.2M$20.3M
Net assetsLn 32$41.2M$38.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.2M$755K$1.1M$294K
Other salaries and wagesLn 7$22.0M$20.3M$884K$852K
Pension plan contributionsLn 8$1.1M$991K$33K$37K
Other employee benefitsLn 9$2.6M$2.4M$150K$65K
Payroll taxesLn 10$1.9M$1.7M$126K$77K
Legal feesLn 11b$122K$122K
Accounting feesLn 11c$185K$185K
Lobbying feesLn 11d$12K$12K
Investment management feesLn 11f$22K$22K
Other fees for servicesLn 11g$825K$606K$219K
Advertising and promotionLn 12$1.3M$861K$1K$478K
Office expensesLn 13$2.4M$2.2M$122K$21K
OccupancyLn 16$782K$782K
TravelLn 17$170K$110K$46K$14K
InterestLn 20$113K$113K
Depreciation, depletion and amortizationLn 22$3.0M$2.9M$44K$24K
InsuranceLn 23$536K$5K$531K
Other expenses (24a–d)Ln 24$3.0M$3.0M$48K$3K
All other expensesLn 24e$1.2M$1.2M
Total functional expensesLn 25$43.4M$37.9M$3.7M$1.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $46.9M$45.1M$1.8M$49.3M 990 PDF
FY2023 $53.7M$46.0M$7.6M$47.5M 990 PDF
FY2022 Viewing $41.7M$43.4M−$1.8M$38.0M 990 PDF
FY2021 $48.8M$40.1M$8.8M$41.2M 990 PDF
FY2020 $44.9M$40.9M$3.9M$32.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $41,665,634 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $16,701,352$10,504,621
I-9 Program service revenuePrior year $30,966,334$31,785,534
I-10 Investment incomePrior year $1,242,575−$625,246
I-11 Other revenuePrior year −$62,526$725
I-12 Total revenuePrior year $48,847,735$41,665,634
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $28,308,362$29,800,310
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,748,187$13,649,011
I-18 Total expensesPrior year $40,056,549$43,449,321
I-19 Revenue less expensesPrior year $8,791,186−$1,783,687
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $41,665,634 across 9 lines filed
VIII-1a Federated campaigns$30,243
VIII-1e Government grants$5,612,097
VIII-1f All other contributions, gifts and grants$4,862,281
VIII-1h Total contributions, gifts and grants$10,504,621
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $31,785,534$31,785,534
VIII-3 Investment incomeExcluded from tax $225,426$225,426
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$850,672−$850,672
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $725$725
VIII-12 Total revenueRelated to mission $31,786,259 · Unrelated business $0 · Excluded from tax −$625,246$41,665,634
Part IX · Statement of functional expenses $43,449,321 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $754,597 · Management $1,140,185 · Fundraising $293,537$2,188,319
IX-7 Other salaries and wagesPrograms $20,283,482 · Management $883,504 · Fundraising $851,671$22,018,657
IX-8 Pension plan contributionsPrograms $991,283 · Management $33,107 · Fundraising $36,732$1,061,122
IX-9 Other employee benefitsPrograms $2,431,504 · Management $149,553 · Fundraising $64,532$2,645,589
IX-10 Payroll taxesPrograms $1,683,002 · Management $126,132 · Fundraising $77,489$1,886,623
IX-11b Legal feesManagement $122,409$122,409
IX-11c Accounting feesManagement $185,044$185,044
IX-11d Lobbying feesManagement $12,000$12,000
IX-11f Investment management feesManagement $22,234$22,234
IX-11g Other fees for servicesPrograms $605,810 · Management $218,859$824,669
IX-12 Advertising and promotionPrograms $861,326 · Management $1,188 · Fundraising $477,920$1,340,434
IX-13 Office expensesPrograms $2,214,588 · Management $121,557 · Fundraising $20,764$2,356,909
IX-16 OccupancyPrograms $782,399$782,399
IX-17 TravelPrograms $110,291 · Management $45,690 · Fundraising $13,657$169,638
IX-20 InterestPrograms $113,311$113,311
IX-22 Depreciation, depletion and amortizationPrograms $2,896,898 · Management $43,706 · Fundraising $23,973$2,964,577
IX-23 InsurancePrograms $4,614 · Management $531,176$535,790
IX-24 Other expenses (24a–d)Programs $2,982,536 · Management $48,045 · Fundraising $3,026$3,033,607
IX-24e All other expensesPrograms $1,185,990$1,185,990
IX-25 Total functional expensesPrograms $37,901,631 · Management $3,684,389 · Fundraising $1,863,301$43,449,321
Part X · Balance sheet $58,285,070 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $2,995,529$1,237,341
X-4 Accounts receivableStart of year $4,567,424$5,357,818
X-9 Prepaid expenses and deferred chargesStart of year $1,299,867$1,147,770
X-10c Land, buildings and equipment, netStart of year $28,210,678$28,780,809
X-11 Publicly traded securitiesStart of year $18,019,718$13,387,080
X-15 Other assetsStart of year $9,271,919$8,374,252
X-16 Total assetsStart of year $64,402,300$58,285,070
X-17 Accounts payable and accrued expensesStart of year $3,422,332$4,015,886
X-19 Deferred revenueStart of year $1,264,899$138,316
X-20 Tax-exempt bond liabilitiesStart of year $9,205,964$8,166,240
X-25 Other liabilitiesStart of year $320,593$238,558
X-26 Total liabilitiesStart of year $23,174,465$20,259,921
X-27 Net assets without donor restrictionsStart of year $38,871,085$36,251,174
X-28 Net assets with donor restrictionsStart of year $2,356,750$1,773,975
X-32 Total net assets or fund balancesStart of year $41,227,835$38,025,149
X-33 Total liabilities and net assetsStart of year $64,402,300$58,285,070
Part XI · Reconciliation of net assets $38,025,149 net assets at year end
XI-1 Total revenue$41,665,634
XI-2 Total expenses$43,449,321
XI-3 Revenue less expenses−$1,783,687
XI-4 Net assets at start of year$41,227,835
XI-5 Net unrealized gains (losses) on investments−$2,000,842
XI-9 Other changes in net assets$581,843
XI-10 Net assets at end of year$38,025,149

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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