Pockets Change Community INC

Tax-deductible

Brooklyn, NY501(c)(3)Human ServicesEIN 82-4350421

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.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
2 of 3
filings with a surplus
Average surplus $24K a year · 12% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$21
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$229K
+269% vs prior year
Spent
$185K
To programs
88%
Net assets
$94K
By yearFY2022–FY2024
Revenue
$229K
FY2024▲ +269%
Revenue by fiscal year
FY2022$313K
FY2023$62K
FY2024$229K
Expenses
$185K
FY2024▲ +66%
Expenses by fiscal year
FY2022$235K
FY2023$111K
FY2024$185K
Net assets
$94K
FY2024▲ +89%
Net assets by fiscal year
FY2022$103K
FY2023$50K
FY2024$94K

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2019.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $162K Management & general 12% · $22K

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

Who runs it and what they're paid

5 people listed on the 990.

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
See Pockets Change Community INC executive salaries →

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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 15aNo

Programs and updates

Empowers students, young adults, and educators with financial literacy through hip hop and the arts.

Provided by the organization

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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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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$229K
Ln 12
Gifts and grantsLn 1h$195K
Fees for servicesLn 2g$34K
Money outPt IX
$185K
Ln 25
Programscol B$162K
Managementcol C$22K
Owns and owesPt X
$94K
net assets · Ln 32
Cash and savingsLn 1–2$70K
Total assetsLn 16$95K
LiabilitiesLn 26$21
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Fees for servicesLn 2g$34K
Total revenueLn 12$229K
Assets in detailPt X, end of year
CashLn 1$70K
Cash and savings togetherLn 1–2$70K
Land, buildings, equipmentLn 10c$25K
Total assetsLn 16$95K
LiabilitiesLn 26$21
Net assetsLn 32$94K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$20K$70K
Land, buildings, equipmentLn 10c$34K$25K
Total assetsLn 16$55K$95K
LiabilitiesLn 26$5K$21
Net assetsLn 32$50K$94K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$152K$152K
Management feesLn 11a$7K$7K
Legal feesLn 11b$30$30
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$2K$394$1K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$742$742
TravelLn 17$5K$5K
InterestLn 20$45$45
Depreciation, depletion and amortizationLn 22$10K$10K
Other expenses (24a–d)Ln 24$867$867
Total functional expensesLn 25$185K$162K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $229K$185K$44K$94K 990 PDF
FY2023 $62K$111K−$49K$50K 990 PDF
FY2022 $313K$235K$77K$103K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $229,243 across 4 lines filed
VIII-1f All other contributions, gifts and grants$195,043
VIII-1h Total contributions, gifts and grants$195,043
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $34,200$34,200
VIII-12 Total revenueRelated to mission $34,200$229,243
Part IX · Statement of functional expenses $184,743 across 11 lines filed
IX-7 Other salaries and wagesPrograms $152,210$152,210
IX-11a Management feesManagement $7,062$7,062
IX-11b Legal feesManagement $30$30
IX-11c Accounting feesManagement $3,450$3,450
IX-11g Other fees for servicesPrograms $394 · Management $1,427$1,821
IX-12 Advertising and promotionManagement $3,333$3,333
IX-13 Office expensesManagement $742$742
IX-17 TravelManagement $5,348$5,348
IX-20 InterestManagement $45$45
IX-22 Depreciation, depletion and amortizationPrograms $9,835$9,835
IX-24 Other expenses (24a–d)Management $867$867
IX-25 Total functional expensesPrograms $162,439 · Management $22,304 · Fundraising $0$184,743
Part X · Balance sheet $94,504 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $20,125$69,915
X-10c Land, buildings and equipment, netStart of year $34,424$24,589
X-16 Total assetsStart of year $54,549$94,504
X-17 Accounts payable and accrued expensesStart of year $4,566$21
X-26 Total liabilitiesStart of year $4,566$21
X-27 Net assets without donor restrictionsStart of year $49,983$94,483
X-32 Total net assets or fund balancesStart of year $49,983$94,483
X-33 Total liabilities and net assetsStart of year $54,549$94,504
Part XI · Reconciliation of net assets $94,483 net assets at year end
XI-1 Total revenue$229,243
XI-2 Total expenses$184,743
XI-3 Revenue less expenses$44,500
XI-4 Net assets at start of year$49,983
XI-10 Net assets at end of year$94,483

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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