Overview
What is Cities For Financial Empowerment Fund Inc?
Cities For Financial Empowerment Fund Inc is a New York-based nonprofit organization that assists municipalities in developing financial stability programs for households. Through the Summer Jobs Connect initiative, the CFE Fund partners with 25 municipal governments to integrate financial empowerment strategies into their summer youth employment programs. By leveraging the reach of these programs, the CFE Fund aims to provide targeted financial education and banking access to participants, using their paychecks as an opportunity to make a significant impact. With a focus on designing, embedding, and replicating financial empowerment initiatives within local government, the CFE Fund's mission is to improve the financial stability of households across the United States. The organization has a team of 31 employees dedicated to this purpose.
Official website here: www.cfefund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%
Cities For Financial Empowerment Fund Inc has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, indicating a strong performance in accountability and finance. With a high Accountability & Finance Score of 97%, the organization demonstrates exceptional governance practices, including a fully independent board and a robust audit and oversight committee.
The organization excels in its financial management, showcasing a low liabilities to assets ratio and an impressive program expense ratio of 89.15%. Additionally, their fundraising efficiency of just $0.04 per dollar raised highlights their commitment to maximizing resources for their mission.
Furthermore, Cities For Financial Empowerment Fund Inc scores a perfect 100 in both Culture & Community and Equity Strategies, emphasizing their dedication to inclusivity and community engagement. There are no noted limitations or concerns in the available data, reflecting a well-run organization focused on its objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Cities For Financial Empowerment Fund Inc legitimate?
Cities For Financial Empowerment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cities For Financial Empowerment Fund 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: $1,158,422
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,508,963
For more financial information, click here
Official website here: www.cfefund.org
What is the mission statement of Cities For Financial Empowerment Fund Inc?
The Cities For Financial Empowerment Fund Inc is dedicated to assisting municipalities in creating programs and strategies that strengthen the financial stability of households. The organization's mission revolves around integrating financial empowerment strategies into local government infrastructure. Through its programmatic, research, and policy initiatives, the CFE Fund focuses on designing, implementing, and replicating financial empowerment initiatives within local governments.
Official website here: www.cfefund.org
Who is the CEO of Cities For Financial Empowerment Fund Inc?
Jonathan Mintz is the CEO of Cities For Financial Empowerment Fund Inc The CEO's salary of Cities For Financial Empowerment Fund Inc is $414,860 and their total compensation is $433,145.
Official website here: www.cfefund.org
What is the revenue of Cities For Financial Empowerment Fund Inc?
Cities For Financial Empowerment Fund Inc's revenue in 2024 was $4,006,798.
Official website here: www.cfefund.org
Who are the executives of Cities For Financial Empowerment Fund Inc and what are their salaries?
The average compensation at Cities For Financial Empowerment Fund Inc during 2024 was $104,782. There are 35 employees and 7 volunteers at Cities For Financial Empowerment Fund Inc.
Here are 16 key members and their salaries (Cities For Financial Empowerment Fund Inc's CEO's salary is $414,860 and their total compensation is $433,145):
- Compensation: $414,860
- Related: $0
- Other: $18,285
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $237,656
- Related: $0
- Other: $35,320
- Compensation: $182,668
- Related: $0
- Other: $18,075
- Compensation: $176,030
- Related: $0
- Other: $16,405
- Compensation: $156,866
- Related: $0
- Other: $16,458
- Compensation: $153,351
- Related: $0
- Other: $33,348
- Compensation: $129,974
- Related: $0
- Other: $9,245
- Compensation: $114,930
- Related: $0
- Other: $9,245
- Compensation: $103,588
- Related: $0
- Other: $9,245
Official website here: www.cfefund.org
Where can I find the form 990 for Cities For Financial Empowerment Fund Inc?
Cities For Financial Empowerment Fund Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.cfefund.org
Learn more at the official website: www.cfefund.org
Mission Statement of Cities For Financial Empowerment Fund Inc
The Cities For Financial Empowerment Fund Inc is a mission-driven organization dedicated to helping municipalities build programs and strategies that support household financial stability. By leveraging municipal engagement, the CFE Fund aims to improve the financial situation of households across the board. The organization's primary goal is to embed financial empowerment strategies into local government infrastructure.
The CFE Fund focuses on three key areas: programmatic, research, and policy efforts. This approach allows the organization to design, implement, and replicate financial empowerment initiatives within local governments. The organization's mission is to transform the way cities approach financial services and education, ultimately leading to better financial outcomes for individuals and families.
The CFE Fund's initiatives are geared towards addressing financial stability at its roots. By collaborating with cities, the organization helps to create innovative solutions that cater to the unique needs of local communities. Whether it's through the development of financial education programs, the design of affordable banking services, or the implementation of savings incentives, the CFE Fund's work is making a significant impact on the financial well-being of households.
In summary, the Cities For Financial Empowerment Fund Inc is a nonprofit organization that partners with municipalities to design and implement financial empowerment strategies. By focusing on programmatic, research, and policy efforts, the organization is able to create sustainable solutions that help improve the financial stability of households and communities.
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Impact
October, 2024
Cities For Financial Empowerment Fund Inc. is driving significant change in household financial stability by empowering municipalities with the tools and strategies necessary to integrate financial empowerment into local government operations. Through initiatives like Summer Jobs Connect (SJC), the organization collaborates with municipal partners to create a national model that connects summer youth employment programs with targeted financial education and banking access.
This innovative approach ensures that young workers not only gain valuable work experience but also learn essential financial skills that will serve them throughout their lives. By leveraging the existing infrastructure of municipal summer job programs, CFE Fund maximizes outreach and impact, ensuring that financial literacy becomes a fundamental aspect of local employment initiatives.
Ultimately, the CFE Fund's mission centers on embedding financial empowerment strategies within local governments, which fosters environments where families can thrive financially. The emphasis on replicating successful models allows for widespread adoption of these practices, thereby enhancing the overall financial stability of communities across the nation.
This information is meant to be a general summary of Cities For Financial Empowerment Fund 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 2024.
- Investment Income: $663,658
- Gross Receipts: $4,006,798
Assets and Liabilities:
- Total Assets: $29,695,810
- Total Liabilities: $4,978,411
- Net Assets: $24,717,399
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Organization Details
Founding Year
2013
Principal Officer
Jonathan Mintz
Website
www.cfefund.orgNTEE Category
Code: S99 - Community improvement
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