FINANCIAL EMPOWERMENT NETWORK

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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

2017

Legal Domicile

Phone

3608306190

Tax Period

2024-01-01 to 2024-12-31

FINANCIAL EMPOWERMENT NETWORK, founded in 2017, is a small nonprofit in the Public & Societal Benefit sector that reported $648K in total revenue in fiscal year 2024. Revenue surged 110% from the prior year, signaling strong growth momentum. The organization ran a surplus of $191K, a strong 29% operating margin.

Mission

VISION WE ENVISION COMMUNITIES WHERE LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES ARE ABLE TO ACHIEVE FINANCIAL WELL-BEING.MISSION WE ADVANCE FINANCIAL EMPOWERMENT THROUGH PARTNERSHIPS THAT SUPPORT ACCESS TO AFFORDABLE, EFFECTIVE, AND RELEVANT SERVICES, AND OTHER RESOURCES.OUR PROCESS WE SERVE AS A LIAISON AND BROKER TO CREATE CONNECTIONS, DISSEMINATE EVIDENCE-BASED AND PROMISING PRACTICES, AND BRING RESOURCES TO NETWORK OF PROVIDERS IN ORDER TO INTEGRATE FINANCIAL EMPOWERMENT INTO OTHER SERVICES INCLUDING ANTI-POVERTY STRATEGIES.

Program Service Accomplishments

Program 1

Expenses: $145,921

Financial Empowerment Integration: Lead a statewide network of financial wellness providers and participating organizations to promote the integration of financial empowerment into other service...

Financial Empowerment Integration: Lead a statewide network of financial wellness providers and participating organizations to promote the integration of financial empowerment into other service systems through professional development workshops, convenings or partner organizations and staff, trainings and technical assistance for partner organizations, and provision of accurate and relevant tools and resources via our website.

Program 2

Expenses: $141,270

Asset Building Coalition: WABC is the lead in Washington State for promoting policies, programs and strategies for helping low-income individuals and communities build assets that will provide them with an economic foundation to thrive. WABC serves as the convener of local asset-building coalitions across Washington state, facilitating convenings of the ABC leads and supporting advocacy work to promote financial wellness legislation in Washington. Also lead the local King County ABC, the Financial Empowerment Providers Network, to better connect nonprofit and financial service providers, identify gaps in services, and collaborate in problem solving.

Program 3

Expenses: $116,641

Bank On: Lead the statewide Bank On Washington initiative to connect un and under-banked individuals to safe, affordable, and accessible financial products and services. Also lead the local Bank On...

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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 (2024)

Revenue Breakdown

Contributions & Grants $642,795

Program Service Revenue $0

Investment Income $5,309

Other Revenue $0

TOTAL REVENUE $648,104

Expense Breakdown

Grants Paid $0

Salaries & Benefits $313,972

Fundraising Expenses $0

Program Expenses $403,832

Other Expenses $143,524

TOTAL EXPENSES $457,496

Year-over-Year Comparison

	2024	2023	Change
Revenue	$648,104	$308,311	+1.1%
Expenses	$457,496	$261,070	+0.8%
Net Income	$190,608	$47,241	+3.0%

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

N/A

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

Total Directors

$100,140

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jenifer Quiroz	Executive Dir.	40.00	Director	$100,140	$0	$100,140
Becky House	President	1.00	Officer Director	$0	$0	$0
MANDY LEE	Secretary	1.00	Officer Director	$0	$0	$0
Linda Taylor	Member	1.00	Director	$0	$0	$0
Paul Knox	Vice President	1.00	Officer Director	$0	$0	$0
Molly Morris	Member	1.00	Director	$0	$0	$0
Marcy Bowers	Member	1.00	Director	$0	$0	$0
Barbara Maxwell	Member	1.00	Director	$0	$0	$0
Denise Wysong	Member	1.00	Director	$0	$0	$0
Jill Vincente	Member	1.00	Director	$0	$0	$0
Richard Perez	Member	1.00	Director	$0	$0	$0
Cristina Serra	Treasurer	1.00	Officer Director	$0	$0	$0

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
2024	$648,104	$457,496	$515,665	$190,608
2023	$308,311	$261,070	$326,950	$47,241