Overview
What is Financial Pathways Of The Piedmont?
Financial Pathways of the Piedmont is a nonprofit organization situated in Winston-Salem, North Carolina. Their primary mission is to deliver professional financial education and counseling services, focusing on personal money management, debt reduction programs, and comprehensive housing counseling. They aim to promote the wise use of credit and improve the financial well-being of various community segments. Additionally, they manage the Representative Payee Program, authorized by the Social Security Administration, which assists individuals who cannot manage their own funds by receiving and managing their monthly SSA/SSI funds. This program supports their clients in maintaining financial stability and fostering independent living.
Official website here: www.financialpaths.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Star rating)
Financial Pathways of the Piedmont has received an overall score of 89%, reflecting a solid performance in accountability and finance. The organization boasts a fully independent board and has demonstrated strong governance practices, such as having an effective audit and oversight committee, along with comprehensive conflict of interest and whistleblower policies. These governance strengths contribute to a high level of trustworthiness and transparency.
The organization excels significantly in its program expense ratio, allocating 77.67% of its expenses directly to programs, which indicates a strong commitment to its mission. Additionally, a fundraising efficiency ratio of $0.12 shows that the charity is effective in its fundraising efforts, maximizing the funds available for its programs. These factors highlight the organization's focus on financial health and program delivery.
However, the liabilities to assets ratio is relatively high at 64.83%, which could raise concerns about the organization’s financial leverage and long-term viability. Additionally, the working capital ratio of 0.56 years suggests that while the organization is operationally efficient, it may face challenges in covering its short-term obligations. Overall, while Financial Pathways of the Piedmont demonstrates many strengths, attention to financial stability will be essential for its ongoing success.
This AI summary has been generated from information found on Charity Navigator.
Is Financial Pathways Of The Piedmont legitimate?
Financial Pathways Of The Piedmont is a legitimate nonprofit organization registered as a 501(c)(3) entity. Financial Pathways Of The Piedmont 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: $120,735
Professional Fundraising Fees: $0
Other Salaries and Wages: $731,423
For more financial information, click here
Official website here: www.financialpaths.org
What is the mission statement of Financial Pathways Of The Piedmont?
Financial Pathways Of The Piedmont is dedicated to delivering professional education, debt reduction programs, comprehensive housing counseling, and advice on the wise use of credit to various segments of the community. Their mission is to improve the financial well-being of these communities by offering counseling services related to personal money management, debt reduction, and the responsible use of credit. Through these initiatives, Financial Pathways Of The Piedmont aims to empower individuals and families to manage their finances more effectively. Additionally, the organization provides a Representative Payee program, authorized by the Social Security Administration, which helps clients manage their monthly SSA/SSI funds and promote independent living.
Official website here: www.financialpaths.org
What is the revenue of Financial Pathways Of The Piedmont?
Financial Pathways Of The Piedmont's revenue in 2024 was $1,226,496.
Official website here: www.financialpaths.org
Who are the executives of Financial Pathways Of The Piedmont and what are their salaries?
The average compensation at Financial Pathways Of The Piedmont during 2024 was $32,775. There are 26 employees and 22 volunteers at Financial Pathways Of The Piedmont.
Here are 20 key members and their salaries:
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Official website here: www.financialpaths.org
Where can I find the form 990 for Financial Pathways Of The Piedmont?
Financial Pathways Of The Piedmont's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.financialpaths.org
Learn more at the official website: www.financialpaths.org
Mission Statement of Financial Pathways Of The Piedmont
Financial Pathways of the Piedmont is dedicated to delivering professional education and counseling services aimed at enhancing the financial well-being of various community segments. Their mission involves providing instruction on personal money management, debt reduction programs, comprehensive housing counseling, and the wise use of credit. By offering these resources, Financial Pathways of the Piedmont aims to empower individuals and improve their financial stability.
One of the key programs they offer is the Representative Payee Program, authorized by the Social Security Administration. This program allows Financial Pathways of the Piedmont to manage monthly SSA/SSI funds on behalf of clients who are unable to manage their finances independently. The case managers assigned to these clients work diligently to maintain their financial well-being and support their journey towards independent living. This program is a testament to Financial Pathways of the Piedmont's commitment to helping individuals overcome financial challenges and improve their overall quality of life.
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Impact
July, 2024
Financial Pathways Of The Piedmont delivers professional consumer education, debt reduction programs, comprehensive housing counseling, and information on the wise use of credit to all segments of the community, aiming to improve their financial well-being. Additionally, the organization runs a Representative Payee program authorized by the Social Security Administration to manage funds for clients who cannot do so themselves. This initiative helps clients maintain financial stability and encourages independent living. The organization's mission is to provide education and counseling services on personal money management, debt reduction, housing counseling, and credit usage to enhance the financial well-being of the community.
This information is meant to be a general summary of Financial Pathways Of The Piedmont. 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: $3,975
- Program Service Revenue: $298,648
- Gross Receipts: $1,234,309
Assets and Liabilities:
- Total Assets: $1,642,751
- Total Liabilities: $1,074,054
- Net Assets: $568,697
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLIENT FEES
Revenue
$273,971
CONTRACT COUNSELING
Revenue
$19,727
DEBT MANAGEMENT PROGRAM FEES
Revenue
$4,950
Organization Details
Founding Year
1972
Principal Officer
Phyllis Caldwell-George
Website
www.financialpaths.orgNTEE Category
Code: P51 - Human services
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