2011-09-08T09:13:24-05:00 2010-12-31 Desmond & Ahern Ltd 10827 S Western Avenue Chicago IL 60643 990 2010-01-01 203006098 The Financial Innovations Center Inc FINA 3128815856 20 North Clark No 1950 Chicago IL 60602 Jennifer Tescher 3128815856 2011-08-29 1 Hugh J Ahern CPA 7737794720 2011-08-29 2010 2016-02-24 21:20:13Z X Cemter for Fin'l Services Innovation Jennifer Tescher 20 North Clark No 1950 Chicago IL 60602 4267482 0 X www.cfsinnovation.com X 2005 IL Transform financial services market to help underbanked consumers achieve financial prosperity. 11 10 26 10 0 0 1025256 3310000 1110093 952517 20420 12378 0 -7413 2155769 4267482 108500 0 0 0 1195896 1578193 0 0 56581 931540 1233585 2235936 2811778 -80167 1455704 3022713 4259250 884247 704365 2138466 3554885 X CFSI's mission is to transform the U.S. financial services marketplace to help underbanked consumers achieve financial prosperity. CFSI's mission is to facilitate the development, marketing, and distribution of innovative financial products and services for underbanked consumers. To do this, we work with banks, credit unions, companies, providers, nonprofits, government -- large or small, established or new, local or national. We believe that market and mission objectives can work together to transform the financial services landscape and ensure underbanked consumers can be self-sufficient and to achieve prosperity. 0 0 2231106 952517 Provides funding for innovative solutions, a meeting place for interested parties, resources for testing products and services, and identifies, develops and distributes authoritative information on how to respond to the needs of the underbanked profitably and responsibly. The Organization works with banks, credit unions, technology vendors, alternative service providers, consumer advocates, and policy makers to forge new relationships, pioneer products and strategies, and seek asset-building opportunities that create value. 2231106 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 1 25 0 1 26 1 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IL X X Theresa Williams and Carol Brown 3128815809 20 North Clark Suite 1950 Chicago IL 60606 Ellen Seidman 2.00 X X 0 0 0 Jennifer Tescher 50.00 X X X 154505 0 15450 Kevin Rhein 2.00 X X 0 0 0 Robert Annibale 1.00 X 0 0 0 Steven Dow 1.00 X 0 0 0 Susan Ehrich 1.00 X 0 0 0 Bruce Murphy 1.00 X 0 0 0 Gary Palmer 1.00 X 0 0 0 Eric Rodriguez 1.00 X 0 0 0 David Rose 1.00 X 0 0 0 Liz Lopez Urrutia 1.00 X 0 0 0 Kimberly Gartner 50.00 X 116055 0 11605 Rachel Schneider 50.00 X 124894 0 12490 395454 0 39545 3 0 1 0 DLA Piper LLP 5266 Paysphere Circle Chicago IL 60674 Legal services 135783 SBK 7054 S Jeffery Blnd Chicago IL 60649 IT, HR, accounting and other 115796 2 3310000 3310000 ROUNDTABLE FEES 900099 595000 595000 CONFERENCE 900099 170633 170633 CONTRACTUAL FEES 900099 103629 103629 BUSINESS MATCH SERVICE 900099 83255 83255 952517 12378 12378 Core Innovation Capita 900099 -7413 -7413 -7413 4267482 952517 0 4965 158742 95245 39686 23811 1157119 994922 146370 15827 56610 47054 7931 1625 102906 89107 12719 1080 102816 85460 14405 2951 20242 20242 70526 70526 510343 442587 65603 2153 158072 123137 34281 654 14649 5835 8814 80627 65171 12994 2462 177465 143446 28600 5419 134243 107699 26543 1 19761 8458 11303 440 354 73 13 19171 15496 3090 585 DUES, FEES & SUBSCRIPTI 22298 6613 15685 MISCELLANEOUS 5748 522 5226 2811778 2231106 524091 56581 1630496 2599838 518832 1025677 320960 112335 334 3365 7909 7909 440 0 547513 513897 4138 4138 3022713 4259250 339655 174365 44592 30000 500000 500000 884247 704365 X 1410809 1608901 727657 1945984 2138466 3554885 3022713 4259250 X 1455704 -39285 X 0 1 1 X 0 X 1415494 3381258 1506167 1025256 3310000 10638175 1415494 3381258 1506167 1025256 3310000 10638175 3836424 6801751 339 27840 62935 20420 12378 123912 10762087 3861701 0.63200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4283 4283 2807495 2811778 290589 72647 0 0 261797 290589 552386 828579 1106 4283 5389 65449 72647 138096 207144 7909 7909 0 0 TIO Networks, Corp 116022 F Investment in CFSI Catalyst Fund, LP 392202 F Core Innovation Capital 5673 F 513897 Recoverable grant 500000 500000 Description of Uncertain Tax Positions Under FIN 48: Part X: FIN 48 - Foot note CFSI was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code Section 501(c)(3). The Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and has been classified as an organization that is not a private foundation under Section 509(a)(1). The tax exempt purpose of the Organization and the nature in which it operates is described in the first paragraph of Note 1 (page 2 of Form 990). The Organization continues to operate in compliance with its tax exempt purpose. The Organization's annual information returns filed with the federal and state governments are subject to examination for the statutory period. X X 0 0 0 0 0 0 0 0 0 Jennifer Tescher 133250 0 21255 0 0 0 0 0 15450 0 169955 0 151164 0 Ellen Seidman Board Chairman 257437 Schedule O - Ellen Seidman, Board Chair, is the Executive Vice President of Shorebank Corportion. The Organization leased office space and outsourced certain admnistrative functions to Shorebank Corporation. 0 Form 990, Part VI, Section B, line 11 The Form 990 was initially reviewed by the Accounting Department, then reviewed and approved by the Executive Director. Prior to filing, the Form 990 was presented to the Board of Directors for final review. Form 990, Part VI, Section B, line 12c Board members must sign a conflict of interest policy annually. They are encouraged to report conflicts as they occur. Form 990, Part VI, Section B, line 15a The Board of Directors reviews and approves the Executive Director's compensation, which is determined using comparability studies. The Executive Director reviews and approves the compensation of other officers and key employees. Form 990, Part VI, Section C, line 19 The Organizaton makes its governing documents, conflict of interest policy, and financial statements available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -39,285. CFSI Catalyst GPLLC 2230 S Michigan Avenue Chicago IL 60616 260509531 Community Development Investments IL -1822 901962 THE CFSI Catalyst Fund LP 2230 S Michigan Avenue Chicago IL 60616 260509703 Financial products IL CFSI Catalyst GPLLC Investments -1822 463683 1 1 0.50000 Core Innovation Capital I LP 611 Broadway Ave Suite 504 New York NY 10012 272234487 Investment in equity, equity-related and debt instruments DE Investments -7413 0 0 0.09990 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0