Financial Beginnings

Analysis

Financial Beginnings is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Financial Beginnings reported income of $1.9m and spending of $1.1m, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $507k to $1.9m (+266%), an average of +38% a year. The sharpest change came in the year to June 2023, when income rose by 151%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Financial Beginnings sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within OR. Charities of a similar size with the same main cause include Coalicion de Coaliciones Pro Personas Sin Hogar de Puerto Rico ($1.9m), Andover Hebron Marlborough Youth Services ($1.9m) and Paladin Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $257k (23% of expenses). Other salaries and wages came to $500k. It paid $3,688 in professional fundraising fees. At year end it held assets of $892k against liabilities of $148k, net assets of $744k. It reported 10 employees.