2019-05-15T18:40:51-05:00 2018-06-30 930900579 MCDONALD JACOBS PC 520 SW YAMHILL ST STE 500 PORTLAND OR 97204 990 2017-07-01 800516996 INNOVATIVE CHANGES INNO 5032495205 2027 LLOYD CENTER PORTLAND OR 97232 PETER HAINLEY EXECUTIVE DIRECTOR 5032495205 2019-05-15 1 SANG AHN P00540880 5032270581 50.204.228.78 2019-05-15 15:32:14 PD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 74491F6242E16BD51F1AF62EF83EA0F361E95DED 2017 2020-01-14 16:20:31Z PETER HAINLEY 2027 LLOYD CENTER PORTLAND OR 97232 223938 0 X WWW.INNOVATIVECHANGES.ORG X 2009 OR INNOVATIVE CHANGES HELPS PEOPLE BUILD THEIR LONG TERM FINANCIAL HEALTH. 5 5 11 70 0 0 166842 172765 61220 50297 235 1 2212 875 230509 223938 0 0 0 0 321866 50113 0 0 19304 124437 253483 446303 303596 -215794 -79658 396588 437626 277165 397861 119423 39765 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. 0 0 70474 10537 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 2017 WE HAVE ORIGINATED 1158 SMALL DOLLAR LOANS, INCLUDING 489 OPPORTUNITY LOANS, 552 CREDIT BUILDER LOANS, 29 EMERGENCY LOANS, 20 LOANS FOR SURVIVORS OF DOMESTIC VIOLENCE, 7 LOANS FOR ADAPTIVE TECHNOLOGY, AND 61 LOANS FOR MOVING COSTS FOR SECTION 8 HOUSING CHOICE VOUCHER HOLDERS. 106267 13695 FINANCIAL EDUCATION - INNOVATIVE CHANGES PROVIDES PRACTICAL, COMPREHENSIVE, ONE-ON-ONE COACHING, FINANCIAL EDUCATION, ASSET BUILDING AND CREDIT BUILDING WORKSHOPS THAT ADDRESS COMMON ROOT CAUSES OF FINANCIAL CHALLENGES AND TEACH BASIC HOUSEHOLD FINANCIAL MANAGEMENT. OUR PROGRAM TARGETS LOW-INCOME INDIVIDUALS AND PEOPLE OF COLOR;65% OF PARTICIPANTS ARE WOMEN AND 65% REPRESENT COMMUNITIES OF COLOR. IN FISCAL YEAR 2018 WE HELPED 1100 ADULTS AND YOUTH MAKE REAL BEHAVIOR CHANGE IN THEIR FINANCIAL CAPABILITIES. 57978 CREDIT BUILDING - INNOVATIVE CHANGES HELPED OVER 552 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, AND THEY AVERAGE A SCORE OF 666 AFTER ONE YEAR WITH US. IF A BORROWER HAS A LOW SCORE WHEN THEY START WITH US, THE AVERAGE SCORE INCREASE OVER ONE YEAR IS 27 POINTS. 19548 26065 ASSET BUILDING - THE OREGON INDIVIDUAL DEVELOPMENT ACCOUNT INITIATIVE IS A MATCHED SAVINGS PROGRAM THAT LEVERAGES STATE FUNDS TO ENABLE INDIVIDUALS WITH LIMITED FINANCIAL RESOURCES TO SAVE AND BUILD ASSETS AT AN ACCELERATED PACE WHILE DEVELOPING GOOD FINANCIAL HABITS. INNOVATIVE CHANGES OFFERS IDA'S FOR POST SECONDARY EDUCATION, EMPLOYMENT RELATED TRAINING OR EQUIPMENT AND RETIREMENT SAVINGS. WE HAVE 81 ACTIVE IDA SAVERS AND 159 PROGRAM GRADUATES. 19548 26065 254267 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 11 1 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 OR X PETER HAINLEY 5035370319 2027 LLOYD CENTER PORTLAND OR 97232 ROSANNE MARMOR PRESIDENT (JUL17-MAY18) 2.00 X X 0 0 0 KEVORK ISIKBAY PRESIDENT (BEG MAY18) 2.00 X X 0 0 0 AMY YOUNGFLESH TREASURER (JUL17-MAY18) 1.00 X X 0 0 0 STEVE PAGENSTECHER TREASURER (BEG MAY18) 1.00 X X 0 0 0 SARAH CHENVEN SECRETARY (BEG MAY18) 2.00 X X 0 0 0 KIM READ DIRECTOR (JUL17-MAY18) 1.00 X 0 0 0 SARAH CHENVEN DIRECTOR (JUL17-MAY18) 1.00 X 0 0 0 FELICIA TRIPP-FOLSOM DIRECTOR (JUL17-MAY18) 1.00 X 0 0 0 KEVORK ISIKBAY DIRECTOR (JUL17-MAY18) 1.00 X 0 0 0 DAVID FOSTER DIRECTOR (JUL17-MAY18) 1.00 X 0 0 0 JOSH SLEDGE DIRECTOR (BEG MAY18) 1.00 X 0 0 0 IAN GALLOWAY DIRECTOR (BEG MAY18) 1.00 X 0 0 0 PETER HAINLEY EXECUTIVE DIRECTOR (BEG MAY18) 5.00 X 0 0 0 CYNTHIA WINTER INTERIM DIRECTOR (JUL 17-MAY 18) 25.00 X 49810 0 0 49810 0 0 0 0 0 0 0 172765 172765 IDA PROGRAM FEES 522291 26065 26065 TRAINING CONTRACTS 522291 13695 13695 LOAN FEES AND INTEREST 522291 10537 10537 50297 1 1 MISCELLANEOUS REVENUE 900099 875 875 875 223938 50297 0 876 23810 19724 2486 1600 18470 15300 1929 1241 333 276 35 22 4146 3435 433 278 3354 2779 350 225 6973 5776 729 468 1800 1491 188 121 11000 9112 1149 739 943 943 8819 7143 1020 656 36131 29929 3775 2427 3207 3207 1861 1542 194 125 2084 1726 218 140 CASA CONTRACT SERVICES 165133 136789 17253 11091 OTHER PROGRAM COSTS 9435 9435 BAD DEBT 3554 3554 OTHER EXPENSES 2543 2106 266 171 303596 254267 30025 19304 200913 371838 110598 9996 10429 1114 65854 48421 6933 6257 25466 25466 1861 0 396588 437626 3381 147651 250976 238156 22808 12054 277165 397861 X -58423 -36522 177846 25000 51287 119423 39765 396588 437626 -79658 0 X X 1 X 0 1 0 X 130215 394473 339431 166842 172765 1203726 130215 394473 339431 166842 172765 1203726 257860 945866 69 174 718 235 1 1197 2212 875 3087 1208010 328126 0.78300 0.76770 X 10911 10911 0 14555 14555 0 0 LOAN SECURITY HOLDBACK 12054 12054 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE PROVISIONS OF FASB ASC TOPIC ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS TOPIC. FORM 990, PART VI, SECTION A, LINE 1 CASA OF OREGON AND INNOVATIVE CHANGES ARE PARTNERS UNDER LETTER OF GOVERNANCE. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER AND THE EXECUTIVE DIRECTOR REVIEW IT BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS REVIEWED ANNUALLY WITH ALL MEMBERS OF THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE EXECUTIVE DIRECTOR WAS DETERMINED BY THE BOARD OF DIRECTORS AS PART OF HIS/HER PERFORMANCE REVIEW ALONG WITH USE OF CAMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR FINANCIAL STATEMENT OVERSIGHT HAS NOT CHANGED.