2024-07-25T19:02:29-07:00 2023-12-31 474152589 IL NFP AUDIT AND TAX LLP 200 S WACKER DR SUITE 3100 CHICAGO IL 60606 990 2023-01-01 472614811 Working Credit NFP WORK 3123395357 111 W Washington Street 900 Chicago IL 60602 Sarah Chenven CEO 2024-07-25 true Sarah Chenven 999009999 true Abdullah Khan CPA P01524581 3129985500 2 AAL1 IAL1 FAL1 2023 2023-04-26 12:10:37Z Sarah Chenven 111 W Washington Street 900 Chicago IL 60602 2289969 false X www.workingcredit.org X 2014 IL To interrupt structural racism by partnering with individuals and communities to provide credit building education, one-on-one counseling, and access to financial products needed to thrive financially. 8 7 17 8 0 508226 1731824 263081 337048 2623 4451 0 773930 2073323 0 0 1123605 1454446 0 162265 312920 444134 1436525 1898580 -662595 174743 623957 847051 72909 121260 551048 725791 To interrupt structural racism by partnering with individuals and communities to provide credit building education, one-on-one counseling, and access to financial products needed to thrive financially. false false 1387970 337048 The road to good credit is shorter than many think. People do not have to be wealthy to have a good credit score, but they do have to know the rules of the credit scoring system and adopt concrete strategies to establish and sustain creditworthiness. Enter Working Credit: our program aims to scale credit building, particularly among people of color, as a strategy for achieving financial resilience in the near term, and expanding access to economic and social opportunities in the longer term. We do this by helping participants acquire the upfront knowledge, affordable products, and ongoing support they need to achieve and sustain prime credit scores and to establish a safety net of at least $1,000 in available credit. Working Credits one-of-a-kind credit building program is comprised of two parts:1.Credit Building Workshops. Working Credit offers a signature virtual and in-person 45-minute workshop that provides baseline information on the credit scoring system, including the high cost of having poor or no credit, the fundamental rules of credit scoring, simple and straightforward strategies to establish and/or build a strong score, and scams to avoid like predatory credit repair. 2.One-on-One Credit Building Counseling and Coaching for 12 Months. Working Credits one-on-one, personalized, credit building counseling starts with a 60-minute, in-depth and confidential session during which Working Credit counselors and participants:a.Complete a baseline financial profile that encompasses a detailed personal/household budget reflecting the participants current reality and focusing on their unique goals; b.Pull and review a soft inquiry version of the participants credit report (soft inquiries do not impact consumers credit scores) to make sure the information is accurate and that participants understand its content and what may be affecting their score (if any), and identify barriers and solutions for improving their situation based on their goals; and c.Develop a personalized Credit Action Plan that serves as a detailed roadmap informed by the participants goals. Those who complete the first counseling session have unlimited access to, and receive unlimited help from, their Working Credit counselor for 12 months. Regardless of how many or how few additional sessions participants request, our counselors pull each persons credit reports and credit scores at 6 and 12 months after that first meeting. They then share with them a personalized report that explains what changed, why, and what the participant can do to continue building credit and make the most of new and improved scores. In addition to being credit building subject matter experts, Working Credits counselors and coaches can and do support participants on a range of financial topics. These include but are not limited to:Managing credit card, medical, student loan, collections, and other debtNavigating student aid and post-secondary education financing resourcesRefinancing high interest vehicle loansCancelling contracts, when possible, for predatory credit/debt servicesFiling for bankruptcyHandling judgments, garnishments, and tax liensNavigating credit and divorceRenting or purchasing a home (knowing your rights and options)Applying for tax credits (e.g., EITC) and other benefitsAs we have expanded our capacity to reach people in different contexts, our relational model is evidence-based and scalable. Provided remotely and with a robust backend platform to manage participants and partners, our services can be offered as a standalone program, or layered in as a complement to an existing initiative so that we and our partners can focus on what we each do bestand together better support our mutual participants. Working Credits goal is not just to convey information, but to transform that information into actionable knowledge and sustained impact that improves participants financial circumstances and interrupts barriers to goal achievement caused by structural racism in the credit system. 1387970 true true false true false false false false false false true false false false false true true false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false true 11 0 true 17 true false false false false false true true false 0 false false false false false false false X 8 7 false false false false false false false true true false false true true true true true true true true false IL X X X Sarah Chenven 3123395357 111 W Washington Street Suite 900 Chicago IL 60602 Sarah Chenven CEO 40.00 0.00 X 103091 0 0 Erica Lowitz Founder/Advisor 40.00 0.00 X X 48620 0 0 Jacqueline Scott President 2.00 0.00 X X 0 0 0 Bob Thomas Vice President 2.00 0.00 X X 0 0 0 Ellen Meade Treasurer 2.00 0.00 X X 0 0 0 Kim Allman Secretary 2.00 0.00 X X 0 0 0 Gary Kash Director 2.00 0.00 X 0 0 0 Kant Desai Director 2.00 0.00 X 0 0 0 Diana Elliott Director 2.00 0.00 X 0 0 0 151711 1 false false false 0 416230 1315594 216646 1731824 Program & Consulting Fees 900099 337048 337048 337048 2340 2340 0 0 0 218757 216646 2111 2111 2111 0 0 0 0 2073323 339159 2340 X 0 0 0 0 151711 128954 7586 15171 0 977110 754104 134161 88845 0 234909 183765 29498 21646 90716 70966 11391 8359 0 0 0 0 0 0 252751 135975 97531 19245 210 210 3191 559 2632 0 0 5400 4224 678 498 46202 21780 21366 3056 0 0 2311 2311 0 18889 14776 2373 1740 9232 9232 Software and Data Services 42145 21145 17297 3703 Incentives 26059 24884 1175 Credit Service Fees 23397 23397 Professional Development 9769 1803 7966 4578 1638 2938 2 1898580 1387970 348345 162265 469148 495530 0 24775 255520 69323 35824 0 0 0 0 10977 16469 140599 96891 49734 43708 0 0 0 0 0 623957 847051 48909 85808 24000 35452 72909 121260 X 261715 267816 289333 457975 551048 725791 623957 847051 174743 X false true X true false X 650224 772935 997412 508226 1731824 4660621 0 0 650224 772935 997412 508226 1731824 4660621 2329712 2330909 316 602 2623 2340 5881 0 22938 9600 32538 4699040 824038 0.49600 0.47280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false 1807 2075 3882 1894698 1898580 244929 61232 false 244929 244929 367394 3882 3882 61232 61232 91848 1807 1807 37811 13909 23902 102788 82982 19806 43708 X 2140598 67275 67275 2073323 2073323 1965855 67275 67275 1898580 1898580 Part X : FIN48 Footnote The Organization is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue Code, therefore, the financial statements do not include a provision for income taxes. The Organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The Organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on the technical merits of the positions. The Organization has identified no significant income tax uncertainties. The Organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the IRS. J Lowitz Company Director Family 5400 Office lease false Schedule L, Part V Supplemental Information The organization sub-leases its office space from J. Lowitz Company, which is leased by the husband of an organization employee and board member, Erica Lowitz. X 1 216646 FMV false false false Form 990, Part VI, Section B, Line 11b Form 990 is reviewed by the Board of Directors prior to submitting the return to theInternal Revenue Service. Form 990, Part VI, Section B, Line 12c On an annual basis all Board members and key employees are required to submit awritten statement stating whether or not the individual has any known conflicts ofinterest. Also all Board members and key employees are required to immediatelynotify the Board if a known conflict of interest should arise. Form 990, Part VI, Section B, Line 15a Salary rates for the Executive Director and other key employees is included in theannual budget. The annual budget is presented to the Board for approval. Thesalary rate in the approved budget are is implemented once the budget is approved bythe Board. Form 990, Part VI, Section B, Line 15b Compensation rates for key employees is assessed against comparability data by theBoard for reasonableness. Form 990, Part VI, Section C, Line 18 A copy of the annual audit and form 990 is posted on the web-site of the Illinois Attorney General, which is accessible to the general public. Form 990, Part VI, Section C, Line 19 Disclosure of governing documents, policies, and financial statements is madeavailable to the general public upon written request.