2024-05-15T00:18:04-05:00 2023-06-30 930928924 PERKINS & COMPANY PC 1211 SW FIFTH AVE SUITE 1000 PORTLAND OR 97204 990 2022-07-01 814643539 FINANCIAL BEGINNINGS OREGON FINA 8004061876 2705 E BURNSIDE ST 214 PORTLAND OR 97214 RONECCA NORVELL CEO 8004061876 2024-05-13 1 RONECCA NORVELL 999009999 1 KAREN LISKA P00639089 5032210336 2024-05-13 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z RONECCA NORVELL 2705 E BURNSIDE ST 214 PORTLAND OR 97214 661760 0 X WWW.FINBEGOR.ORG X 2017 OR FINANCIAL BEGINNINGS OREGON EMPOWERS YOUTH AND ADULTS TO TAKE CONTROL OF THEIR FINANCIAL FUTURES. 7 7 10 150 0 0 695719 581891 28500 5625 8182 8794 0 65450 732401 661760 0 0 0 0 535633 471012 0 0 110233 160092 194366 695725 665378 36676 -3618 613615 585426 42420 36435 571195 548991 X FINANCIAL BEGINNINGS OREGON EMPOWERS YOUTH AND ADULTS TO TAKE CONTROL OF THEIR FINANCIAL FUTURES. 0 0 503194 79869 FINANCIAL BEGINNINGS OREGON (FBOR) INCREASES THE FINANCIAL CAPABILITY OF YOUTH AND ADULTS IN OUR STATE. THIS ALLOWS OREGONIANS TO LIVE WITH MORE FINANCIAL SECURITY, AND INCREASES LIFE OPPORTUNITIES SUCH AS HOMEOWNERSHIP, HIGHER EDUCATION, AND SECURE RETIREMENT. FBOR WORKS TO: - PROMOTE SELF-SUFFICIENCY BY TEACHING INDIVIDUALS HOW TO PROACTIVELY IMPROVE THEIR FINANCIAL HEALTH. - SUPPORT UN- AND UNDERBANKED INDIVIDUALS IN ACCESSING AND PARTICIPATING IN FINANCIAL SERVICES. - PROVIDE AGE-APPROPRIATE FINANCIAL EDUCATION THAT MEETS OR EXCEEDS STATE-SPECIFIC STANDARDS. - ENHANCE FINANCIAL RESILIENCY AMONG UNDERSERVED POPULATIONS. - PROVIDE ALL OF THESE SERVICES AT NO COST TO PARTNERS OR PARTICIPANTS.FBOR'S FINANCIAL EDUCATION PROGRAMS REACH ALL DEMOGRAPHICS BUT ARE DESIGNED TO EMPOWER ECONOMICALLY-VULNERABLE YOUTH AND ADULTS THROUGH INCLUSIVE FINANCIAL EDUCATION. FBOR PROACTIVELY REACHES UNDERSERVED AUDIENCES SUCH AS LOW INCOME INDIVIDUALS, INDIVIDUALS WITH LEGAL HISTORIES, INDIVIDUALS EXPERIENCING HOMELESSNESS, AND COMMUNITIES OF COLOR.PROGRAMS ARE PROVIDED IN PARTNERSHIP WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS, AND ARE ALWAYS OFFERED AT NO COST TO THE PARTICIPANT OR PARTNER. THIS YEAR, FBOR REACHED OVER 13,300 OREGONIANS WITH FREE FINANCIAL EDUCATION AND TRAINED 308 NEW COMMUNITY-BASED VOLUNTEERS.FBOR RUNS AN ANNUAL FELLOWSHIP PROGRAM THAT BRINGS YOUNG ADULTS IN-HOUSE AS FINANCIAL EDUCATORS AND PROVIDES THEM PROFESSIONAL DEVELOPMENT OPPORTUNITIES. THIS FELLOWSHIP MAKES THEIR PROGRAMS MORE EQUITABLE AND IMPACTFUL BY ENGAGING YOUNG ADULTS IN THEIR PROGRAM DELIVERY. 503194 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 OR X RONECCA NORVELL 8004061876 2705 E BURNSIDE ST 214 PORTLAND OR 97214 KAELYNN SIMMONS BOARD MEMBER 1.00 X 4928 0 0 KEN CALHOUN SECRETARY 1.00 X X 0 0 0 SEAN EDWARDS TREASURER 1.00 X X 0 0 0 AMY THEUMA BOARD CHAIR 2.00 X X 0 0 0 JOE HERRLE BOARD MEMBER 1.00 X 0 0 0 LOGWONE WARRIOR MITZ BOARD MEMBER 1.00 X 0 0 0 MICHAEL NAVARRO BOARD MEMBER 1.00 X 0 0 0 ALEXANDER MANOOGIAN INTERIM EXECUTIVE DIRECTOR 40.00 X 101006 0 6591 KATHERINE BENEDICT EXECUTIVE DIRECTOR 40.00 X 80275 0 10650 186209 0 17241 1 0 0 0 0 26250 555641 581891 VOLUNTEER TRAINING SUP 611710 5625 5625 5625 8794 8794 SETTLEMENT INCOME 900099 65000 65000 MISCELLANEOUS INCOME 900099 450 450 65450 661760 79869 0 0 218538 186312 12035 20191 195269 124588 98 70583 8955 5573 536 2846 17065 13790 2217 1058 31185 23521 685 6979 22008 22008 6525 2820 3705 60 60 9559 5671 2379 1509 32239 21922 3869 6448 7915 7357 551 7 2265 523 1588 154 PROGRAM EXPENSES 80469 80469 PROGRAM MATERIALS 26031 26031 COMMUNICATIONS 7295 4557 2280 458 665378 503194 51951 110233 129556 0 0 451413 132100 85000 2552 0 0 0 0 0 349407 46471 0 2542 613615 585426 42420 36435 42420 36435 X 241710 284496 329485 264495 571195 548991 613615 585426 -3618 -18586 0 X 0 0 0 X 620749 501483 728240 695719 581891 3128082 620749 501483 728240 695719 581891 3128082 716278 2411804 1027 2180 1289 8182 8794 21472 3149554 0.76580 0.77020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45250 5747 50997 53177 -7927 45250 32284 10000 10893 53177 31148 1136 32284 24018 5000 2130 31148 0 0 0 PART V, LINE 4: THE FINANCIAL BEGINNINGS OREGON ENDOWMENT FUND INCLUDES DONOR RESTRICTED FUNDS THAT ARE RESTRICTED BY SPECFIC DONOR STIPULATIONS. THE BOARD OF DIRECTORS MAY ANNUALLY APPROPRIATE FOR DISTRIBUTION AN AMOUNT DEEMED PRUDENT GIVEN THE PURPOSE OF THE ENDOWMENT. THE INITIAL SPENDING RATE WILL BE 4% OF THE FINANCIAL BEGINNINGS OREGON ENDOWMENT FUND'S AVERAGE FAIR VALUE. FAIR MARKET VALUE IS CALCULATED BY TAKING THE QUARTERLY AVERAGE OF THE FAIR MARKET VALUE OF THE ENDOWMENT'S ASSETS OVER THE THREE YEARS IMMEDIATELY PRECEDING THE YEAR IN WHICH THE APPROPRIATION FOR EXPENDITURE IS MADE. THE SPENDING RATE SHOULD NOT EXCEED 7%. NO DISTRIBUTIONS WERE MADE DURING THE YEAR ENDED JUNE 30, 2023. THE BOARD OF DIRECTORS DOES NOT ANTICIPATE MAKING DISTRIBUTIONS UNTIL THE ENDOWMENT REACHES $100,000. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B TREASURER AND BOARD CHAIR WILL REVIEW THE FORM 990. FULL BOARD WILL VOTE TO APPROVE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO COMPLETE ANNUAL CONFLICT OF INTEREST DISCLOSURES. FORM 990, PART VI, SECTION B, LINE 15A FULL EVALUATION IS COMPLETED BY THE BOARD OF DIRECTORS AND INFORMED BY STAFF INPUT. COMPARABILITY DATA IS REVIEWED AND EVALUATION IS USED BY THE BOARD TO DETERMINE EXECUTIVE DIRECTOR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.