Financial Beginnings Oregon FY2021 filing

Portland, ORUnknown exempt organizationEIN 81-4643539Revenue $756K in FY2021

On file with the IRSfinbegor.org2705 E Burnside Street · Portland, OR

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Financial Beginnings Oregon empowers youth and adults to take control of their Financial futures.

81¢ of each $1 spent went to programs.
$107K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 5
filings with a surplus
Average deficit $21K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$147K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$756K
+37% vs prior year
Spent
$633K
To programs
81%
Net assets
$570K
By yearFY2020–FY2024
Revenue
$756K
FY2021▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$551K
FY2021$756K
FY2022$732K
FY2023$662K
FY2024$227K
Expenses
$633K
FY2021▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$514K
FY2021$633K
FY2022$696K
FY2023$665K
FY2024$523K
Net assets
$570K
FY2021▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2020$437K
FY2021$570K
FY2022$571K
FY2023$549K
FY2024$0

From the FY2021 Form 990 (year ending June 2021) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $516K Management & general 5% · $33K Fundraising 13% · $85K

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

9 people listed on the 990; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Dir.
$107,201Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Alexander Manoogian$133,029$101,006———
Kate Benedict——$116,876$107,201$103,218
Katherine Benedict—$80,275———
Kaelynn Simmons—$4,928———

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

Empowers individuals to gain control of their financial futures.

Questions for Financial Beginnings Oregon

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Provided by the organization

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1 program · $516K · in their own filed words · FY2020
01

Financial Beginnings Oregon (FBOR) increases the financial capability of youth and adults in our state. This allows Oregonians to live with more financial security, and increases life opportunities such as homeownership, higher education, and secure retirement.

$516Kprogram 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 · FY2025
Total grants receivedfrom 1 funder$30K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$756K
Ln 12
Gifts and grantsLn 1h$728K
Fees for servicesLn 2g$26K
Investment incomeLn 3$1K
Money outPt IX
$633K
Ln 25
Programscol B$516K
Managementcol C$33K
Fundraisingcol D$85K
Owns and owesPt X
$570K
net assets · Ln 32
Cash and savingsLn 1–2$139K
Total assetsLn 16$718K
LiabilitiesLn 26$147K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$728K
Government grantsLn 1e$67K
Fees for servicesLn 2g$26K
Investment incomeLn 3$1K
Gains on assetsLn 7$0
Total revenueLn 12$756K
Assets in detailPt X, end of year
CashLn 1$139K
SavingsLn 2$0
Cash and savings togetherLn 1–2$139K
InvestmentsLn 11–13$477K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$0
Total assetsLn 16$718K
LiabilitiesLn 26$147K
Net assetsLn 32$570K
OperationsPt I, VI
EmployeesI 56
VolunteersI 6173
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$339K$139K
InvestmentsLn 11–13$133K$477K
Land, buildings, equipmentLn 10c$2K$1K
Total assetsLn 16$541K$718K
LiabilitiesLn 26$104K$147K
Net assetsLn 32$437K$570K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$125K$87K$13K$25K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$263K$226K$37K
Pension plan contributionsLn 8$21K$16K$2K$4K
Other employee benefitsLn 9$23K$19K$455$4K
Payroll taxesLn 10$34K$26K$2K$5K
Management feesLn 11a$0
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$26K$25K$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$5K$4K$850
Advertising and promotionLn 12$610$50$560
Office expensesLn 13$12K$7K$3K$2K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$31K$16K$10K$4K
TravelLn 17$114$23$87$4
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$513$413$17$83
InsuranceLn 23$2K$2K$64$318
Other expenses (24a–d)Ln 24$89K$87K$1K$690
All other expensesLn 24e$244$71$54$119
Total functional expensesLn 25$633K$516K$33K$85K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $227K$523K−$296K$0 990 PDF
FY2023 $662K$665K−$4K$549K 990 PDF
FY2022 $732K$696K$37K$571K 990 PDF
FY2021 Viewing $756K$633K$122K$570K 990 PDF
FY2020 $551K$514K$37K$437K 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 FY2021 990 (6 parts)
Part I · Summary $755,580 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $501,483$728,240
I-9 Program service revenuePrior year $48,676$26,051
I-10 Investment incomePrior year $1,043$1,289
I-11 Other revenue$0
I-12 Total revenuePrior year $551,202$755,580
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $372,426$466,070
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $141,537$167,094
I-18 Total expensesPrior year $513,963$633,164
I-19 Revenue less expensesPrior year $37,239$122,416
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $755,580 across 10 lines filed
VIII-1e Government grants$67,100
VIII-1f All other contributions, gifts and grants$661,140
VIII-1h Total contributions, gifts and grants$728,240
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $26,051$26,051
VIII-3 Investment incomeExcluded from tax $1,289$1,289
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $26,051 · Excluded from tax $1,289$755,580
Part IX · Statement of functional expenses $633,164 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $86,606 · Management $12,685 · Fundraising $25,471$124,762
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $225,776 · Fundraising $37,484$263,260
IX-8 Pension plan contributionsPrograms $15,643 · Management $1,911 · Fundraising $3,807$21,361
IX-9 Other employee benefitsPrograms $19,087 · Management $455 · Fundraising $3,524$23,066
IX-10 Payroll taxesPrograms $25,963 · Management $2,324 · Fundraising $5,334$33,621
IX-11a Management fees$0
IX-11b Legal feesPrograms $1,000$1,000
IX-11c Accounting feesPrograms $25,078 · Management $1,222$26,300
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $4,027 · Fundraising $850$4,877
IX-12 Advertising and promotionPrograms $50 · Fundraising $560$610
IX-13 Office expensesPrograms $6,760 · Management $3,061 · Fundraising $2,309$12,130
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $16,416 · Management $9,744 · Fundraising $4,424$30,584
IX-17 TravelPrograms $23 · Management $87 · Fundraising $4$114
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $413 · Management $17 · Fundraising $83$513
IX-23 InsurancePrograms $1,579 · Management $64 · Fundraising $318$1,961
IX-24 Other expenses (24a–d)Programs $87,069 · Management $1,002 · Fundraising $690$88,761
IX-24e All other expensesPrograms $71 · Management $54 · Fundraising $119$244
IX-25 Total functional expensesPrograms $515,561 · Management $32,626 · Fundraising $84,977$633,164
Part X · Balance sheet $717,600 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $338,903$138,563
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivableStart of year $40,075$86,000
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $27,134$14,931
X-10c Land, buildings and equipment, netStart of year $1,538$1,026
X-11 Publicly traded securitiesStart of year $133,120$477,080
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $540,770$717,600
X-17 Accounts payable and accrued expensesStart of year $29,328$67,344
X-25 Other liabilitiesStart of year $67,100$79,883
X-26 Total liabilitiesStart of year $103,928$147,227
X-27 Net assets without donor restrictionsStart of year $319,822$228,447
X-28 Net assets with donor restrictionsStart of year $117,020$341,926
X-32 Total net assets or fund balancesStart of year $436,842$570,373
X-33 Total liabilities and net assetsStart of year $540,770$717,600
Part XI · Reconciliation of net assets $570,373 net assets at year end
XI-1 Total revenue$755,580
XI-2 Total expenses$633,164
XI-3 Revenue less expenses$122,416
XI-4 Net assets at start of year$436,842
XI-5 Net unrealized gains (losses) on investments$11,115
XI-10 Net assets at end of year$570,373

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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