FINANCIAL BEGINNINGS

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

RONECCA NORVELL

Phone

8004061876

Tax Period

2022-07-01 to 2023-06-30

FINANCIAL BEGINNINGS, founded in 2005, is a community nonprofit in the Human Services sector that reported $1.9M in total revenue in fiscal year 2022. Revenue surged 151% from the prior year, signaling strong growth momentum. The organization ran a surplus of $748K, a strong 40% operating margin.

Mission

FINANCIAL BEGINNINGS EMPOWERS YOUTH AND ADULTS TO TAKE CONTROL OF THEIR FINANCIAL FUTURE.

Program Service Accomplishments

Program 1

Expenses: $755,127 Revenue: $225,461

FINANCIAL BEGINNINGS FULFILLS ITS MISSION BY PROVIDING FINANCIAL EDUCATION AND EMPOWERMENT OPPORTUNITIES. AS A NATIONAL NONPROFIT, FINANCIAL BEGINNINGS PROVIDES PROGRAMS TO LEARNERS ACROSS THE UNITED STATES. FINANCIAL BEGINNINGS INCREASES THE FINANCIAL CAPABILITY OF YOUTH AND ADULTS, WHICH ALLOWS THEM TO LIVE WITH LESS FINANCIAL UNCERTAINTY. OUR GOALS ARE TO INCREASE KNOWLEDGE AND CONFIDENCE AROUND PERSONAL FINANCE TOPICS TO HELP PEOPLE ACHIEVE THEIR PERSONAL GOALS SUCH AS HOME OWNERSHIP, HIGHER EDUCATION, AND SECURE RETIREMENT. FINANCIAL BEGINNINGS WORKS TO:- PROMOTE FINANCIAL WELLNESS BY TEACHING AND EMPOWERING INDIVIDUALS TO IMPROVE THEIR FINANCIAL HEALTH PROACTIVELY.- ENHANCE FINANCIAL KNOWLEDGE, CONFIDENCE, AND RESILIENCY AMONG UNDERSERVED POPULATIONS.- SUPPORT INDIVIDUALS IN UNDERSTANDING, ACCESSING, AND PARTICIPATING IN FINANCIAL SERVICES.- PROVIDE AGE-APPROPRIATE FINANCIAL EDUCATION THAT MEETS OR EXCEEDS STATE-SPECIFIC STANDARDS.- CREATE COMMUNITIES THAT UNDERSTAND THE NEED FOR FINANCIAL EDUCATION, BUILDING PARTNERSHIPS THAT WORK COLLABORATIVELY TOWARDS INCREASED FINANCIAL LITERACY AND EMPOWERMENT. THESE GOALS ARE ACCOMPLISHED THROUGH FINANCIAL BEGINNINGS' MAIN PROGRAM, WHICH INCLUDES AGE-APPROPRIATE LESSONS FOR YOUTH IN GRADES K-12, AS WELL AS PROGRAMMING FOR COLLEGE STUDENTS AND ADULTS. PROGRAMS ARE PROVIDED IN PARTNERSHIP WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS. FINANCIAL BEGINNINGS HAS ALSO DEVELOPED ONLINE PROGRAMMING TO COMPLEMENT IN-PERSON LESSONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,629,730

Program Service Revenue $148,020

Investment Income $5,145

Other Revenue $72,693

TOTAL REVENUE $1,855,588

Expense Breakdown

Grants Paid $0

Salaries & Benefits $877,876

Fundraising Expenses $183,457

Program Expenses $755,127

Other Expenses $226,337

TOTAL EXPENSES $1,107,901

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,855,588	$739,533	+1.5%
Expenses	$1,107,901	$958,158	+0.2%
Net Income	$747,687	$-218,625	-4.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

125

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$209,118

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM SOMA	CHAIR	2.00	Officer Director	$0	$0	$0
DONALD BIELEN	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL FISHER	SECRETARY	1.00	Officer Director	$0	$0	$0
BRIDGET BANZ	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMESE BEAUFORD	BOARD MEMBER	1.00	Director	$0	$0	$0
HOLLY FILES	BOARD MEMBER	1.00	Director	$0	$0	$0
FREWINE KIROS	BOARD MEMBER	1.00	Director	$0	$0	$0
MARTHA MICKELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF STRICKLER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN STIREK	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN STIREK	BOARD MEMBER	1.00	Director	$0	$0	$0
RONECCA NORVELL	CEO (PART YEAR)	40.00	Officer	$49,298	$5,167	$54,465
MELODY BELL	CEO, FOUNDER (PART YEAR)	40.00	Officer	$146,553	$8,100	$154,653
TIMOTHY CHRISTY	COO	40.00	Highest	$105,099	$12,678	$117,777

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,855,588	$1,107,901	$892,367	$747,687
2022	$739,533	$958,158	$67,187	$-218,625
2021	$690,120	$920,925	$300,011	$-230,805
2020	$1,080,917	$767,840	$589,851	$313,077
2019	$506,570	$582,659	$174,014	$-76,089
2018	$521,697	$559,375	$239,526	$-37,678