2017-07-31T14:55:46-05:00 2016-09-30 390974031 WEGNER CPAS LLP 230 PARK AVE FL 10 NEW YORK NY 101691001 990 2015-10-01 760833915 THE FINANCIAL CLINIC FINA 6468104050 115 W 30TH ST NO 700 NEW YORK NY 100014063 MAE WATSON GROTE FOUNDER AND EXECUTIVE DIRECTOR 6468104050 2017-07-20 YIGIT UCTUM CPA P01269549 2125511724 2015 2021-01-29 14:40:06Z MAE WATSON GROTE 115 W 30TH ST NO 700 NEW YORK NY 100014063 6741459 0 X THEFINANCIALCLINIC.ORG X 2006 NY THE FINANCIAL CLINIC BUILDS WORKING POOR FAMILIES' FINANCIAL SECURITY BY ADDRESSING THEIR IMMEDIATE FINANCIAL CHALLENGES AND HELPING THEM SET LONG-TERM GOALS TO ACHIEVE FINANCIAL MOBILITY. 11 11 0 85 0 0 1681627 6222379 1199616 518203 691 877 -4539 0 2877395 6741459 0 0 0 0 1825996 2248134 9074 0 251948 686028 832047 2521098 3080181 356297 3661278 765220 4390107 771308 734917 -6088 3655190 X THE FINANCIAL CLINIC BUILDS WORKING POOR FAMILIES' FINANCIAL SECURITY BY ADDRESSING THEIR IMMEDIATE FINANCIAL CHALLENGES AND HELPING THEM SET LONG-TERM GOALS TO ACHIEVE FINANCIAL MOBILITY. 0 0 1019652 124726 CHANGE MACHINE, THE REVOLUTIONARY ONLINE PLATFORM BUILT BY THE CLINIC THAT SIGNIFICANTLY IMPROVES SERVICE TO AMERICA'S WORKING POOR, CONTAINS ALL THE TOOLS AND RESOURCES PRACTITIONERS NEED TO ADDRESS THEIR CUSTOMERS' UNDERLYING FINANCIAL INSECURITY. BUILT BY PRACTITIONERS FOR PRACTITIONERS, CHANGE MACHINE OFFERS UNPRECEDENTED OPPORTUNITIES FOR DRAMATICALLY INCREASING THE IMPACT OF FINANCIAL COACHING. CHANGE MACHINE PROVIDES A SINGLE PLATFORM WHERE PRACTITIONERS CAN LEARN BEST FINANCIAL COACHING PRACTICES; ACCESS ALL THE TOOLS AND WORKSHEETS THEY NEED TO COACH THEIR CUSTOMERS; A PROFESSIONAL SOCIAL NETWORK SPECIFICALLY DESIGNED FOR THE FIELD TO SHARE BEST PRACTICES; AND SPECIAL ACCESS FOR SUPERVISORS TO MANAGE THEIR STAFF, CUSTOMERS AND DATA. IN THE FIRST YEAR ALONE, CHANGE MACHINE HAS GROWN TO SUPPORT NEARLY 15,000 CUSTOMERS! 962377 393477 FINANCIAL INSECURITY IS PERVASIVE AND OFTEN STYMIES MANY NONPROFIT ORGANIZATIONS FROM FULLY AND EFFECTIVELY SERVING THEIR COMMUNITIES. FEW ORGANIZATIONS HAVE THE EXPERTISE, SUPPORT, OR RESOURCES TO FULLY ADDRESS THEIR CUSTOMERS' FINANCIAL INSECURITY. THE CLINIC HAS CREATED THE FINANCIAL SECURITY ECOSYSTEM (FSE) OR "ECOSYSTEM," WHICH IS A HOLISTIC PARTNERSHIP APPROACH THAT BUILDS FINANCIAL SECURITY FOR THE WORKING POOR AT SCALE AND ACCELERATES SECTOR-SPECIFIC MISSIONS AND OUTCOMES. THIS COMPLETE BUNDLE OF THE CLINIC'S BEST PRACTICES AND SERVICES IS DESIGNED TO SEAMLESSLY COLLABORATE WITH A PARTNER ORGANIZATION'S EXISTING SERVICES THROUGH CAPACITY BUILDING, DIRECT SERVICES AND LASTING CHANGE--SEAMLESSLY CONNECTED THROUGH THE USE OF CHANGE MACHINE. IN 2016, WE LAUNCHED OUR FIRST FULLY-FLEDGED FSE THROUGH WORKBOOST NYC AND THE RESULTS WERE SO POSITIVE WITH THE FIRST FOUR ORGANIZATIONS THAT WE ACCEPTED APPLICATIONS FOR COHORT 2, WHICH WAS LAUNCHED IN FEBRUARY 2017. 178680 BASED ON WHAT WE LEARN FROM OUR ON-THE-GROUND WORK WITH THOUSANDS OF WORKING POOR PEOPLE EACH YEAR, WE RESEARCH, DEVELOP AND ADVOCATE FOR POLICY REFORMS AND SYSTEMIC CHANGES THAT WILL REMOVE OBSTACLES TO FINANCIAL SECURITY. WE BUILD COALITIONS AND PARTNER WITH ADVOCACY GROUPS, RESEARCHERS, THINK-TANKS, PRACTITIONERS, AND EVEN STATE AND FEDERAL POLICYMAKERS TO GUIDE AND SUPPORT OUR POLICY AGENDA. ON TOP OF BEING NAMED A CITI COMMUNITY PROGRESS MAKER IN 2016, THE CLINIC WAS ABLE TO CELEBRATE A HUGE SUCCESS WHEN GOVERNOR ANDREW CUOMO SIGNED THE 'REFUND 529' BILL INTO LAW (A9118/S6942)! THIS WILL ALLOW THE 9 MILLION TAXPAYERS IN NEW YORK TO PUT A PORTION OF THEIR TAX REFUND DIRECTLY INTO A 529 COLLEGE SAVINGS ACCOUNT. IT IS A BILL WE HAVE SPENT YEARS ADVOCATING FOR, AND THE CLINIC IS PROUD TO HAVE BEEN A PART OF BRINGING A SYSTEMS-LEVEL CHANGE TO LIFE THAT WILL HELP MILLIONS SAVE FOR YEARS TO COME. WE CAN'T WAIT TO START SEEING THE IMPLICATIONS IN ACTION AS TAX SEASON RAPIDLY APPROACHES. VISIT OUR WEBSITE TO READ OUR FOUNDER AND CEO MAE WATSON GROTE'S REACTION TO THE BILL PASSING. WE STILL HAVE A LOT OF WORK AHEAD OF US, BUT EXCITING VICTORIES LIKE THIS ARE SIGNS OF PROGRESS AND HOPE. 2160709 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 0 0 0 0 0 0 1 1 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X EDUARDO BELTRE 6468104050 115 W 30TH ST RM 700 NEW YORK NY 100014063 RISA FREEDMAN ACTING CHAIR 1.00 X X 0 0 0 RIMA KHALIL FINANCE AND AUDIT COMMITTEE CHAIR 1.00 X X 0 0 0 MICHAEL BECK DIRECTOR 1.00 X 0 0 0 MARGARITA BROSE DIRECTOR 1.00 X 0 0 0 JACQUES BUSQUEST DIRECTOR 1.00 X 0 0 0 JORDANA INGBER GRUNFELD DIRECTOR 1.00 X 0 0 0 MANY NORTON DIRECTOR 1.00 X 0 0 0 KEN PRESS DIRECTOR 1.00 X 0 0 0 IDA RADEMACHER DIRECTOR 1.00 X 0 0 0 T BAKER SMITH DIRECTOR 1.00 X 0 0 0 PAUL VAN HOOK DIRECTOR 1.00 X 0 0 0 MAE WATSON GROTE FOUNDER AND EXECUTIVE DIRECTOR 40.00 X 147782 0 26885 147782 0 26885 1 0 1 0 TRINET GROUP INC 1100 SAN LEANDRO BLVD STE 400 SAN LEANDRO CA 945771670 EMPLOYEE LEASING AND HR SERVICES 1695678 1 433405 5788974 6222379 PROGRAM SERVICE FEES 624190 501497 501497 OTHER PROGRAM SERVICES 900099 16706 16706 518203 877 877 6741459 518203 0 877 171242 46235 97607 27400 1734766 1363745 286516 84505 84723 61043 18338 5342 120658 86934 26116 7608 136745 98524 29598 8623 1500 1500 19000 19000 216904 97614 32405 86885 97759 63631 24607 9521 142060 120579 14460 7021 144994 93788 41343 9863 40732 32543 7539 650 40800 28644 10324 1832 32406 32406 51029 47086 3054 889 24451 14353 8355 1743 DUES AND MEMBERSHIPS 11944 2814 9130 BAD DEBT EXPENSE 2852 2852 5616 3176 2374 66 3080181 2160709 667524 251948 973 211386 493192 223997 3377534 151088 241234 27926 52413 305602 79868 149850 225734 765220 4390107 153994 183861 122419 56161 494895 494895 771308 734917 X -395565 10540 389477 3644650 -6088 3655190 765220 4390107 3661278 0 X 0 1 X 1 0 X 47569 638938 2026054 6222379 8934940 47569 638938 2026054 6222379 8934940 5137820 3797120 522 691 877 2090 8937030 1926088 X SCHEDULE A, PART II: THE 2013 COLUMN ON SCHEDULE A, PART II REPRESENTS THE SHORT TAX YEAR BEGINNING JANUARY 1, 2014 AND ENDING SEPTEMBER 30, 2014. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15392 10066 5326 22441 12530 9911 267769 57272 210497 225734 6940694 199235 199235 6741459 0 6741459 3279416 199235 199235 3080181 0 3080181 X X X X 0 0 0 0 0 0 0 0 0 MAE WATSON GROTE FOUNDER AND EXECUTIVE DIRECTOR 147782 0 0 0 0 0 13307 0 13578 0 174667 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE PREPARED FORM 990 IS FIRST REVIEWED BY THE DIRECTOR OF FINANCE AND OPERATIONS AND THE EXECUTIVE DIRECTOR AND THEN BY THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BODY-DELEGATED POWER WHO HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS INVESTMENTS OR FAMILY: (I) AN OWNERSHIP OR INVESTMENT IN ANY ENTITY WITH WHICH THE ORGANIZATION HAS A TRANSACTION OR ARRANGEMENT, (II) A COMPENSATION ARRANGEMENT WITH THE ORGANIZATION OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE ORGANIZATION HAS A TRANSACTION OR ARRANGEMENT, OR (III) A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUALS WITH WHICH THE ORGANIZATION IS NEGOTIATING A TRANSACTION OR ARRANGEMENT. NO DIRECTOR SHALL VOTE ON ANY MATTER IS WHICH HE OR SHE HAS AN INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED BY THE MEMBERS OF THE GOVERNING BODY USING COMPARABLE DATA. THE DELIBERATION AND DECISION IS THEN MEMORIALIZED IN AN OFFICIAL LETTER TO THE EXECUTIVE DIRECTOR OF ANY ADJUSTMENT TO COMPENSATION. THE COMPENSATION FOR OTHER TOP MANAGEMENT AND KEY EMPLOYEES IS REVIEWED BY THE EXECUTIVE DIRECTOR USING COMPARABLE DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION BY WAY OF THE EMPLOYEE'S ANNUAL EVALUATION. THIS PROCESS WAS LAST UNDERTAKEN IN 2015. 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.