2017-11-14T15:37:24-06:00 2017-06-30 930900579 McDonald Jacobs PC 520 SW Yamhill St Ste 500 Portland OR 97204 990 2016-07-01 800516996 Innovative Changes INNO 5032495205 2027 Lloyd Center Portland OR 97232 ROSANNE MARMOR BOARD CHAIR 5032495205 2017-11-13 1 Sang Ahn P00540880 5032270581 199.193.203.172 2017-11-13 19:31:05 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 993F9509BDAFD5E86DDFF586BEF311A9261E2A06 2016 2017-02-10 21:41:12Z ROSANNE MARMOR 2027 Lloyd Center Portland OR 97232 230509 0 X WWW.INNOVATIVECHANGES.ORG X 2009 OR INNOVATIVE CHANGES HELPS PEOPLE BUILD THEIR LONG TERM FINANCIAL HEALTH. 7 7 10 68 0 0 339431 166842 82519 61220 718 235 0 2212 422668 230509 0 0 0 0 301338 321866 0 0 22174 121197 124437 422535 446303 133 -215794 662074 396588 326497 277165 335577 119423 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 95055 28347 Lending - Innovative Changes provides responsible small-dollar consumer loans to help borrowers who are experiencing financial emergencies, those wishing to pay down other high-cost debt and those preparing for asset building opportunities. Since our inception in early 2010 through fiscal year 2016 we have originated 1109 small dollar loans, including 489 opportunity loans, 516 credit builder loans, 29 emergency loans, 20 loans for survivors of domestic violence, 7 loans for adaptive technology, and 48 loans for moving costs for section 8 housing choice voucher holders. 126493 2440 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;75% of participants are women and 57% represent communities of color. In fiscal year 2017 we helped 1313 adults and 108 youth make real behavior change in their financial capabilities. 82719 Credit building - Innovative Changes helped over 516 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 28 points. 81241 30433 Asset Building - The Individual Development Account initiative is a matched savings account that leverages state and federal funds to enable individuals with limited financial resources to save and build assets at an accelerated pace while developing good financial habits. Savings can be used for post-secondary education or job training, employment related training or equipment, retirement savings, starting a small business or buying a home. We have 98 active IDA accounts and 130 total graduates. 81241 30433 385508 1 1 0 0 0 0 0 0 0 0 1 0 0 0 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 0 1 1 0 1 10 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 OR X Cynthia Winter 5032495205 2027 Lloyd Center Portland OR 97232 ROSANNE MARMOR PRESIDENT 2.00 X X 0 0 0 AMY YOUNGFLESH SECRETARY/TREASURER 1.00 X X 0 0 0 KIM READ DIRECTOR 1.00 X 0 0 0 SARAH Chenven DIRECTOR 1.00 X 0 0 0 FELICIA TRIPP-FOLSOM DIRECTOR 1.00 X 0 0 0 Kevork Isikbay DiRECTOR 1.00 X 0 0 0 DAVID FOSTER DIRECTOR 1.00 X 0 0 0 Traci Rossi EXECUTIVE DIRECTOR 40.00 X X 18644 0 5360 Cynthia Winter Interim Director 25.00 X X 0 0 0 NANCY YUILL EXECUTIVE DIRECTOR 40.00 X 37924 0 0 56568 0 5360 0 0 0 0 0 166842 166842 IDA PROGRAM FEES 522291 30433 30433 LOAN FEES AND INTEREST 522291 28347 28347 TRAINING CONTRACTS 522291 2440 2440 61220 235 235 Miscellaneous Revenue 900099 2212 2212 2212 230509 61220 0 2447 88094 75745 8027 4322 185427 159433 16896 9098 4289 3688 391 210 23581 20275 2149 1157 20475 17604 1866 1005 2000 1720 182 98 10065 8654 917 494 7443 6400 678 365 10686 9188 974 524 35034 30123 3192 1719 7098 6103 647 348 3334 2866 304 164 2911 2503 265 143 Training 22765 19574 2074 1117 PROGRAM COSTS 17285 17285 BAD DEBT 3791 3791 OTHER EXPENSES 2025 556 59 1410 446303 385508 38621 22174 85801 200913 427902 110598 75000 9137 10429 50563 65854 8477 6933 25361 23500 5194 1861 662074 396588 5934 3381 258850 250976 25000 36713 22808 326497 277165 X 204949 -58423 77878 177846 52750 0 335577 119423 662074 396588 -215794 -360 0 X 0 0 0 X 441900 130215 394473 339431 166842 1472861 441900 130215 394473 339431 166842 1472861 338871 1133990 387 69 174 718 235 1583 492 2212 2704 1477148 313778 0.76770 0.77580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10911 9286 1625 14450 14214 236 1861 LOAN SECURITY HOLDBACK 22808 22808 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 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.