Overview
What is Moneythink?
Moneythink is a nonprofit organization situated in Chicago, Illinois, dedicated to promoting financial equity and empowering students. By combining years of collaboration with educators, advisors, and high schools, Moneythink collects feedback and data to guide students in their financial journeys. Their primary tool, DecidED, is a free web-based application designed to help students understand their college options and compare financial aid offers, considering factors like graduation rates and debt. DecidED aims to inform students about affordable schools and enable them to make well-informed decisions, ultimately shaping their futures with reduced debt. Moneythink's mission primarily focuses on offering financial education and peer mentorship to 11th and 12th graders, particularly catering to institutionally underserved students. The organization boasts a small workforce of 18 individuals.
Official website here: www.moneythink.org
Is Moneythink legitimate?
Moneythink is a legitimate nonprofit organization registered as a 501(c)(3) entity. Moneythink 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.
Here are some key statistics you may want to consider:
Executive Compensation: $243,067
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,000,090
For more financial information, click here
Official website here: www.moneythink.org
What is the mission statement of Moneythink?
Moneythink's mission is centered around empowering college-bound students, with a focus on institutionally underserved individuals, by enhancing their financial decision-making skills. This is accomplished through the use of transparency and technology. The organization aims to promote economic equity by providing students with the necessary tools and resources to make informed choices about their financial aid options and college choices. By utilizing their expertise and years of collaboration with students, college advisors, and high schools, Moneythink offers a web-based application called DecidED. This tool allows students to compare the affordability of financial aid offers against other factors, such as graduation rates, encouraging them to enroll at schools with the least debt and highest chances of graduation. DecidED is a free resource designed to cater to the needs of institutionally underserved students and their support systems.
Official website here: www.moneythink.org
Who is the CEO of Moneythink?
Joshua Lachs is the Chairman of Moneythink. The CEO's salary of Moneythink is $228,444 and their total compensation is $243,067.
Official website here: www.moneythink.org
What is the revenue of Moneythink?
Who are the executives of Moneythink and what are their salaries?
The average compensation at Moneythink during 2022 was $69,064. There are 18 employees and 47 volunteers at Moneythink.
Here are 12 key members and their salaries (Moneythink's CEO's salary is $228,444 and their total compensation is $243,067):
- Joshua Lachs (Ceo)
- Sara O'Hearn (Vp Of Product)
- Hannah Smith (Vp Of Partnerships)
- Alexandra Shiluk (Vp Of Operations)
- Benjamin May (Api Product Manager)
- Gregory Nance (Chairman) [Trustee/Director]
- Leigh Phillips (Director)
- Matt Taylor (Director)
- Patrice Berry (Secretary) [Trustee/Director]
- Gary Pelissier (Treasurer) [Trustee/Director]
- R Jerry Nemorin (Director)
- Meera Iyer (Director)
Official website here: www.moneythink.org
Where can I find the form 990 for Moneythink?
The Moneythink’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.moneythink.org
Learn more at the official website: www.moneythink.org
Mission Statement of Moneythink
Moneythink, as a nonprofit organization, is dedicated to empowering college-bound students, specifically those from underprivileged backgrounds. Their mission is to support these students in making informed financial decisions, fostering economic equity. With years of experience collaborating with schools, advisors, and students, Moneythink utilizes expertise and transparency to guide students through their financial journeys.
Moneythink's approach is twofold. Firstly, they provide financial education, helping students understand the intricacies of college financing, including the affordability of financial aid offers and graduation rates. This knowledge enables students to enroll in more affordable institutions, where they have the best chance of graduating with minimal debt.
Secondly, Moneythink leverages technology to expand its reach. DecidED, their web-based application, offers students, families, and advisors free resources to compare college options and financial aid offers. By presenting clear, factual information, DecidED encourages students to make informed decisions, shaping their futures directly. This tool was designed with the needs of institutionally underserved students and their support systems in mind, ensuring its effectiveness and accessibility.
In summary, Moneythink's mission is to empower college-bound students from underprivileged backgrounds by offering financial education and technology-driven tools. By promoting transparency and reducing student debt, Moneythink aims to help students achieve success and shape their futures with confidence.
Impact
This information is meant to be a general summary of Moneythink. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Moneythink empowers college-bound students, particularly institutionally underserved students, to achieve success by supporting financial decision-making through transparency and technology. Through its financial education and peer mentorship programs, Moneythink promotes economic equity by empowering 11th and 12th graders to make informed financial choices. By leveraging technology like the DecidED app, Moneythink helps students learn about their college options, compare affordability of financial aid offers, and make decisions that reduce student debt. This impactful approach guides students on their financial journeys, enabling them to enroll in affordable schools where they have the greatest chance of graduating with the least amount of debt. Through clear and factual information, Moneythink equips students to shape their futures more directly and achieve success at all stages of their educational and financial paths.
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.
- Assets and Liabilities:
Organization Details
Founding Year
2009
Phone
(626) 202-4850
Principal Officer
Joshua Lachs
Main Address
1452 E 53rd Street, Chicago, IL, 60615
Website
www.moneythink.org
NTEE Category
Code: P51 - Human services
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