Overview
What is The Savings Collaborative?
The Savings Collaborative is a nonprofit organization based in Carbondale, Colorado, with a single employee. Their primary mission, as supported by the Bell Policy Project, is to promote economic mobility within their community. They achieve this by helping low-income individuals and families improve their financial well-being over time. The Savings Collaborative offers a secure mobile application that incentivizes saving through rewards and favorable interest rates. It also issues loans at competitive rates and provides financial management coaching and education. This holistic approach aims to empower individuals to take control of their finances and build a more secure financial future.
Is The Savings Collaborative legitimate?
The Savings Collaborative is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Savings Collaborative 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: $108,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of The Savings Collaborative?
The Savings Collaborative's mission is centered around assisting individuals with low income, providing them with a secure mobile application that encourages saving through incentives and favorable interest rates. Additionally, it offers loans at beneficial rates and offers financial management coaching and education. The organization's aim is to empower individuals to enhance their financial stability and well-being over time.
Who is the CEO of The Savings Collaborative?
Barbara Freeman is the Executive Director of The Savings Collaborative.
What is the revenue of The Savings Collaborative?
The Savings Collaborative's revenue in 2022 was $425,628.
Who are the executives of The Savings Collaborative and what are their salaries?
The average compensation at The Savings Collaborative during 2022 was $108,000. There is 1 employee and 12 volunteers at The Savings Collaborative.
Here are 7 key members and their salaries:
- Compensation: $25,465
- Related: $108,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $10,850
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Savings Collaborative?
The Savings Collaborative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Savings Collaborative
The Savings Collaborative, an organization dedicated to economic mobility, aids low-income individuals and families by providing a secure mobile app. This platform serves as a tool for saving, offering rewards and favorable interest rates as incentives to encourage savings. Beyond just saving, The Savings Collaborative extends its assistance by issuing loans at advantageous interest rates. Furthermore, the organization offers financial management coaching and education to its users, aiming to equip them with the necessary skills to effectively manage their finances.
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Impact
October, 2024
The Savings Collaborative significantly impacts low-income individuals by providing them with essential tools and resources to improve their financial stability. Through a secure mobile app, it encourages saving by offering rewards and favorable interest rates, making it easier for users to build their savings over time. In addition, the program issues loans at competitive rates, which helps individuals manage financial emergencies and pursue opportunities without falling into debt traps.
The cooperative also emphasizes financial education and coaching, empowering participants with the knowledge needed to make informed decisions about their finances. By focusing on these core areas, The Savings Collaborative promotes economic mobility and enhances the overall financial well-being of individuals and families in Carbondale, CO, ultimately contributing to a more financially literate and resilient community.
This information is meant to be a general summary of The Savings Collaborative. 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 2022.
- Investment Income: $3,582
- Gross Receipts: $425,628
Assets and Liabilities:
- Total Assets: $2,049,315
- Total Liabilities: $1,328,600
- Net Assets: $720,715
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Organization Details
Founding Year
2021
Phone
(970) 379-4234Principal Officer
Barbara Freeman
Main Address
959 Cedar Creek, Carbondale, CO, 81623
NTEE Category
Code: P51 - Human services
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