2021-01-28T20:29:01-06:00 2020-06-30 930900579 MCDONALD JACOBS PC 520 SW YAMHILL ST STE 500 PORTLAND OR 97204 990EZ 2019-07-01 800516996 INNOVATIVE CHANGES INNO 5032495205 20508 SW ROY ROGERS RD NO 155 SHERWOOD OR 97140 PETER HAINLEY EXECUTIVE DIRECTOR 5032495205 2021-01-21 1 SANG AHN P00540880 5032270581 2019 2022-09-23 18:48:47Z X X WWW.INNOVATIVECHANGES.ORG X X 135591 X 110183 25358 50 135591 17178 38681 189233 245092 -109501 -69141 626 -178016 X 427836 337317 89882 30378 517718 367695 586859 545711 -69141 -178016 X OUR MISSION IS TO HELP PEOPLE BUILD THEIR LONG-TERM FINANCIAL HEALTH. OUR VISION IS A SOCIETY WHERE ALL PEOPLE HAVE ACCESS TO SAFE, AFFORDABLE FINANCIAL PRODUCTS AND SERVICES AND THE ABILITY TO USE THEM WELL. OUR GUIDING PRINCIPLES WORK TO ADVANCE ECONOMIC JUSTICE FOR THOSE DISENFRANCHISED AND EXCLUDED BY THE MAINSTREAM FINANCIAL SERVICES SECTOR, CELEBRATE THE DIVERSE CULTURES OF OUR COMMUNITIES BY IMPLEMENTING CULTURALLY RESPONSIVE PROGRAMMING AND WE COMMIT TO BUILDING A STRONG, FINANCIALLY SUSTAINABLE ORGANIZATION. LENDING - INNOVATIVE CHANGES PROVIDES RESPONSIBLE SMALL-DOLLAR CONSUMER LOANS TO HELP BORROWERS WHO ARE EXPERIENCING FINANCIAL EMERGENCIES, HOUSING CHOICE VOUCHER HOLDERS NEEDING SECURITY DEPOSITS, AND THOSE PREPARING FOR ASSET BUILDING OPPORTUNITIES. SINCE OUR INCEPTION IN EARLY 2010 THROUGH FISCAL YEAR 2020 WE ORIGINATED 1303 SMALL DOLLAR LOANS, INCLUDING 508 OPPORTUNITY AND PUBLIC LOANS, 635 CREDIT BUILDER LOANS, 40 EMERGENCY AND COVID RELIEF LOANS, 20 LOANS FOR SURVIVORS OF DOMESTIC VIOLENCE, 7 LOANS FOR ADAPTIVE TECHNOLOGY, AND 93 LOANS FOR MOVING COSTS FOR SECTION 8 HOUSING CHOICE VOUCHER HOLDERS. 0 116482 THE FINANCIAL COACHING PROGRAM OFFERS LOW INCOME INDIVIDUALS AND FAMILIES THE OPPORTUNITY TO WORK ONE-ON-ONE WITH A TRAINED VOLUNTEER. VOLUNTEERS WILL HELP CLIENTS CREATE AND REACH THEIR GOALS, PAVING A PATH TO OVERALL FINANCIAL STABILITY AND A BETTER UNDERSTANDING OF HOW TO MANAGE THE DAILY INTERACTION BETWEEN THEIR FINANCES AND PERSONAL LIVES. WE HAVE SEEN AN INCREASE OF CLIENT INTEREST FOR ONE ON ONE COACHING DUE TO THE PANDEMIC WITH SPECIAL INTEREST IN FINANCIAL PLANNING AND MONEY MANAGEMENT. WE ARE WORKING IN PARTNERSHIP WITH REFERRING PARTNERS TO PROVIDE COACHING TO DIVERSE COMMUNITIES TO HELP NAVIGATE THIS DIFFICULT FINANCIAL SITUATION. 0 89050 CREDIT BUILDING - INNOVATIVE CHANGES HELPED OVER 750 CLIENTS TAKE CONTROL OF THEIR CREDIT AND BUILD STRONG CREDIT SCORES TO INCREASE THEIR ACCESS TO WELL-PRICED ASSET-BUILDING CREDIT, SUCH AS HOME MORTGAGES, SMALL BUSINESS LOANS AND HIGHER EDUCATION LOANS. OUR COACHING AND CREDIT BUILDER LOANS HELP PEOPLE WITH NO CREDIT SCORE ESTABLISH A SOLID BASIS FOR RESPONSIBLE BORROWING. 0 0 205532 KEVORK ISIKBAY PRESIDENT 0.50 0 0 0 STEVE PAGENSTECHER TREASURER 0.50 0 0 0 SARAH CHENVEN SECRETARY 0.50 0 0 0 JOSH SLEDGE DIRECTOR 0.50 0 0 0 IAN GALLOWAY DIRECTOR 0.50 0 0 0 PETER HAINLEY EXECUTIVE DIRECTOR 0.50 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 OR PETER HAINLEY 20508 SW ROY ROGERS RD NO 155 SHERWOOD OR 97140 5032495205 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X 339431 166842 172765 56248 110183 845469 339431 166842 172765 56248 110183 845469 182316 663153 718 235 1 3 50 1007 2212 875 2001 714 5802 852278 316820 0.77810 0.80740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME DESCRIPTION: . AMOUNT: 50. FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES DESCRIPTION: ADVERTISING. AMOUNT: 986. DESCRIPTION: OFFICE EXPENSES. AMOUNT: 20,715. DESCRIPTION: INFORMATION TECHNOLOGY. AMOUNT: 319. DESCRIPTION: INSURANCE. AMOUNT: 3,684. DESCRIPTION: BAD DEBT. AMOUNT: 1,921. DESCRIPTION: PROGRAM EXPENSES. AMOUNT: 161,608. TOTAL TO FORM 990-EZ, LINE 16: 189,233. FORM 990-EZ, PART I, LINE 20 - OTHER CHANGES IN NET ASSETS DESCRIPTION: PRIOR PERIOD ADJUSTMENT. AMOUNT: 626. FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS DESCRIPTION: ACCOUNTS RECEIVABLE. BEG. OF YEAR AMOUNT: 61,800. END OF YEAR AMOUNT: 5,083. DESCRIPTION: NOTES RECEIVABLE. BEG. OF YEAR AMOUNT: 21,755. END OF YEAR AMOUNT: 18,906. DESCRIPTION: PREPAID EXPENSES. BEG. OF YEAR AMOUNT: 6,327. END OF YEAR AMOUNT: 6,389. FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES DESCRIPTION: ACCOUNTS PAYABLE AND ACCRUED EXPENSES. BEG. OF YEAR AMOUNT: 223,741. END OF YEAR AMOUNT: 349,168. DESCRIPTION: DEFERRED REVENUE. BEG. OF YEAR AMOUNT: 176,905. END OF YEAR AMOUNT: 125,307. DESCRIPTION: LOAN SECURITY HOLDBACK. BEG. OF YEAR AMOUNT: 186,213. END OF YEAR AMOUNT: 71,236. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.