Finreglab Inc

Nonprofit profile at a glance

EIN
822842970
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Washington, DC, USA
Phone
2029514088
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Reported finances

Revenue
$2,899,572
Expenses
$3,792,211
Assets
$1,675,333
Liabilities
$781,936

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

Leadership & pay

18 people listed

Executive titles in this filing

  • MELISSA KOIDE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • MELISSA KOIDE (CHIEF EXECUTIVE OFFICER): $313,800 total reported compensation
  • KELLY THOMPSON COCHRAN (DEPUTY DIRECTOR/SECRETARY & TREASURER): $294,383 total reported compensation
  • ZIHSUN ZHAO (SENIOR DATA SCIENTIST): $216,960 total reported compensation

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

Overview

Mission

Finreglab is a d.c.-based research organization working at the intersection of financial innovation and public policy. Our mission is to advance technology and data use to help people and small businesses manage their financial lives, weather economic shocks, and build long-term security.

What it reported doing in 2024

Ai in financial services: the organization conducts empirical research and facilitates dialogue across the public policy, financial, technology, advocacy, and academic sectors to examine the potential of artificial intelligence (ai)/machine learning (ml) to improve financial inclusion and financial well-being. The work also includes examining ai/ml across a variety of financial sector use cases to evaluate customer impact, market practices, and public policy.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 65
  • Accountability: 81
  • Sustainability: 9
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 71.5%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: Pass

Sustainability

  • Operating margin: -30.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 35.9%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 27.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 20.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 71.5% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.7M in reported program spending
  • Leadership: top reported pay $314K · 18 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $110K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.