Community Financial Resources

Nonprofit profile at a glance

EIN
203788598
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Oakland, CA, USA
Phone
9176011377
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$785,438
Expenses
$1,294,118
Assets
$3,518,526
Liabilities
$2,394,443

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Beadsie Woo (President)

Highest reported compensation

  • Parisa Esmaili (Executive Dir.): $147,559 total reported compensation
  • Carol Iascone (Operations Manager): $119,420 total reported compensation
  • Cynthini West (CFO): $100,294 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

CFR provides pathways to financial well-being and economic justice with safe and reliable financial products for low-wealth communities.

What it reported doing in 2024

Education: Community Financial Resources (CFR) provides pathways to financial well-being and economic justice with safe and reliable financial products for low-wealth communities. CFR continued our efforts in 2024 to achieve the following milestones: empowered 2,803 low-income, low-wealth participants to open bank accounts; over $21 million deposited on more than 8,276 accounts; partnered with 8 Payment Facilitation Programs nationwide, processing over $2.5M to 997 recipients, updated our product portal, both on the backend and frontend, as well as hiring new staff positions.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 93% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 83
  • Accountability: 69
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.2%; rating input score 83
  • Fundraising efficiency: $5.95 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 74.9%; rating input score 75; 33rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -64.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 28.4%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 19.7% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.2% of spending went to programs
  • Governance: 5 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $148K · 9 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.