Pockets Change Community INC EIN 82-4350421 Form 990 (PDF) Claim this org

Pockets Change Community INC

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Empowers students, young adults, and educators with financial literacy through hip hop and the arts. For fiscal year 2024 it reported $229K in revenue, $185K in expenses, and $94K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Brooklyn, NY
Filings
3 on file (2022–2024)
Revenue
$229KFY2024
Expenses
$185K
Net assets
$94K
People
5
Filings
3
Updates
0
More identity details & actions ⌄
EIN  82-4350421 Public charity (501(c)(3)) Brooklyn, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowers students, young adults, and educators with financial literacy through hip hop and the arts.
Leadership
Claudia Alick · Board Member
Money in and out
$229K revenue, $185K expenses
Bottom line
88% program efficiency
Where the money goes · FY2024
Total revenue
$229K
Pt VIII · Ln 12
Total expenses
$185K
Pt IX · Ln 25
Net assets
$94K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $44K
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.12
Program efficiency
88%
of spending reaches programs▲ +609% vs prior filing year
Operating runway
4.5mo
months of highly liquid reserves at operating expense rate▲ +105% vs prior filing year
Surplus margin
+19%
revenue over expenses, this year▲ +125% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$229K
FY2024▲ +269%
Expenses
$185K
FY2024▲ +66%
Total assets
$95K
FY2024▲ +73%
Total liabilities
$21
FY2024▼ -100%
Total revenue
$229K
Pt VIII · Ln 12
Total expenses
$185K
Pt IX · Ln 25
Net assets
$94K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$44K
Total assetsPt X · Ln 16$95K
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPockets Change Community INC
EINHdr · item D82-4350421
Principal addressHdr · item CBrooklyn, NY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P51)
Ruling yearIRS BMFFeb 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

Our mission is to build thriving financial futures for k-12 students, young adults, and educators through the arts and neuroscience. We use hip hop and the arts to show that finance is about more than just numbers, its a way to express our rhythm, our habits, and our collective values.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$195K · 85%
Program service revenue$34K · 15%
Contributions & grants85%$195K
Program service revenue15%$34K
Total revenueLn 12$229K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.12
Program services88%$162K
Management & general12%$22K
Total functional expensesLn 25$185K

Balance Sheet

Part X · end of year
CashLn 1$70K
Total assetsLn 16$95K
Total liabilitiesLn 26$21
Total net assetsLn 32$94K
Months of cash on handcomputed4.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $70K · Operating expenses/yr $185K
4.5 months
Where the money goes
Program services
Program services $162K · Total expenses $185K
88%
Management & General
Management & general $22K · Total expenses $185K
12%
Fundraising
Fundraising $0 · Total expenses $185K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $127K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $195K · Total revenue $229K
85%
Government reliance
Government grants — · Total revenue $229K
Earned-income share
Program service revenue $34K · Total revenue $229K
15%
Investment reliance
Investment income $0 · Total revenue $229K
0%
Program self-sufficiency
Program service revenue $34K · Total expenses $185K
19%
Growth & trend
Revenue growth (YoY)
This year $229K · Prior year $62K
+269%
Net-asset trend (YoY)
End of year $94K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $229K · Expenses $185K
+19%
Liabilities-to-Assets
Total liabilities — · Total assets $95K
Net-asset ratio
Net assets $94K · Total assets $95K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $95K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Claudia Alick · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $185K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $152K · Total expenses $185K
82%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%
Overhead ratio 12%
Fundraising cost ratio 0%
Revenue growth 269%
Legal fee ratio 0.02%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$229K revenue · viewing · ⤓ 990 PDF
FY2023$62K revenue · ⤓ 990 PDF
FY2022$313K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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