Overview
What is Financial Education Associates Inc?
Financial Education Associates Inc, located in Boston, Massachusetts, is a nonprofit organization dedicated to empowering low and moderate-income residents of Massachusetts. Their mission involves providing unbiased financial guidance, helping individuals organize their finances to achieve significant financial goals, such as home purchases, education, entrepreneurship, and retirement. Since its inception, Financial Education Associates Inc has offered various educational programs, including homebuyer education classes, financial seminars, online courses, and landlord classes. They cater to Boston and Eastern Massachusetts, with classes now available in webinar format due to the COVID-19 pandemic. Their client-specific curriculum addresses specific needs, including goal-related savings programs for homeownership, starting a business, retirement, and post-secondary education. They offer programs like Homesafe, Framework, Homebuying 101, and What's Next seminar to prepare Massachusetts home buyers for homeownership responsibilities.
Official website here: www.money-classes.com
Is Financial Education Associates Inc legitimate?
Financial Education Associates Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Financial Education Associates Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $89,022
Professional Fundraising Fees: $0
Other Salaries and Wages: $23,740
For more financial information, click here
Official website here: www.money-classes.com
What is the mission statement of Financial Education Associates Inc?
Financial Education Associates Inc's mission is centered around providing unbiased financial advice to low and moderate-income individuals in Massachusetts. Their primary goal is to assist these individuals in achieving larger financial objectives, such as home purchases, education, entrepreneurship, and retirement. The organization accomplishes this through various means, including homebuyer education classes, financial education seminars, online homebuyer classes, and classes for new homeowners. Their curriculum is tailored to meet the specific needs of their clients, and they offer programs like Homesafe, Framework, and What's Next to prepare homebuyers for their responsibilities. FEA also provides online first-time homebuyer education and counseling sessions, as well as a Landlord Class accepted by MassHousing and Massachusetts Housing Partnership for landlord education.
Official website here: www.money-classes.com
What is the revenue of Financial Education Associates Inc?
Financial Education Associates Inc's revenue in 2023 was $219,768.
Official website here: www.money-classes.com
Who are the executives of Financial Education Associates Inc and what are their salaries?
The average compensation at Financial Education Associates Inc during 2023 was $22,552. There are 5 employees at Financial Education Associates Inc.
Here are 5 key members and their salaries:
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- Compensation: $94,000
- Related: $0
- Other: $2,022
Official website here: www.money-classes.com
Where can I find the form 990 for Financial Education Associates Inc?
Financial Education Associates Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.money-classes.com
Learn more at the official website: www.money-classes.com
Mission Statement of Financial Education Associates Inc
Financial Education Associates Inc, a nonprofit organization, is dedicated to providing unbiased financial information to low and moderate-income residents of Massachusetts. Their mission is to aid individuals in organizing their finances, thereby enabling them to achieve larger financial goals. These objectives include purchasing a home, pursuing education, starting a business, and preparing for retirement. The organization has been successful in this mission since its inception, having graduated over 16,000 individuals from homebuyer education classes.
In addition to homebuyer education classes, Financial Education Associates Inc offers various financial education seminars, online homebuyer classes, online landlord classes, and classes for new homeowners. These classes are available in Boston and Eastern Massachusetts, with online classes also available due to the COVID-19 pandemic. The organization tailors its curriculum to meet the specific needs of its clients, offering goal-related savings programs for homeownership, entrepreneurship, retirement, and post-secondary education.
Financial Education Associates Inc provides a range of classes and seminars to help Massachusetts home buyers prepare for the responsibilities of homeownership. These include HomeSafe, Framework, Homebuying 101, Homebuying 100, Landlord Classes, and What's Next seminar. Homebuying 101, for instance, is an 8-hour class that educates participants on the home purchasing process in Massachusetts, including special programs for financial assistance, the mortgage process, and sustainable homeownership issues. The certificate earned upon successful completion of the class can be used to satisfy various education requirements.
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Impact
October, 2024
Financial Education Associates Inc (FEA) significantly impacts low and moderate-income residents in Massachusetts by providing essential financial education and resources. With a mission centered on delivering unbiased information, FEA empowers individuals to organize their finances and achieve larger financial goals, such as home ownership, further education, entrepreneurship, and retirement.
Since its inception, FEA has graduated over 16,000 participants from its homebuyer education classes, illustrating its effectiveness in preparing aspiring homeowners. The organization offers a variety of educational programs, including in-person seminars, online classes, and on-demand resources to accommodate different learning preferences and schedules. All classes are designed to cater to the unique needs of clients, ensuring that participants gain the knowledge required to navigate the complexities of home buying and financial management.
For first-time homebuyers, programs like Homebuying 101 and FRAMEWORK equip participants with critical skills regarding the home purchasing process, financing options, and sustainable homeownership. The certificates obtained from these courses are invaluable, as they fulfill the educational requirements for various mortgage products and assistance programs.
FEA also recognizes the importance of ongoing support for homeowners through initiatives like the HomeSafe program. This offering provides crucial information on home maintenance, safety, finance management, and landlord responsibilities, thus promoting long-term success and stability for homeowners.
By adapting to changing circumstances, especially during the COVID-19 pandemic, FEA transitioned to a webinar format, ensuring access to education remains uninterrupted. The incorporation of technology allows for flexible learning opportunities, empowering participants to take ownership of their financial futures at their own pace.
Overall, FEA's commitment to financial education not only enhances individual lives but also contributes to the broader economic stability of communities in Massachusetts, fostering a more informed and resilient population.
This information is meant to be a general summary of Financial Education Associates Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Program Service Revenue: $169,768
- Gross Receipts: $219,768
Assets and Liabilities:
- Total Assets: $199,493
- Total Liabilities: $21,959
- Net Assets: $177,534
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT SERVICE REVEN
Revenue
$102,520
TUITION FEES
Revenue
$67,248
Organization Details
Founding Year
2006
Principal Officer
Jacqueline Cooper
Website
www.money-classes.comNTEE Category
Code: P51 - Human services
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