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Moneythink

Moneythink

Chicago, IL 60654
Tax ID27-1052771

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About this organization

Revenue

$1,298,622

Expenses

$1,297,998

Website

moneythink.org

Mission

Less Debt. More Degrees. Moneythink’s work increases college graduation rates and reduces student loan debt. Since 2008, Moneythink has worked towards student-focused financial wellness and equity by empowering college bound students, particularly institutionally underserved students, to achieve success. Moneythink supports financial decision-making through transparency and technology.

About

Moneythink breaks down barriers to college success by directly supporting under-resourced youth in navigating the critical financial decisions inherent to the college matriculation process. Our coaches utilize a web-based, text-messaging platform to provide low-cost, direct, personalized, action-oriented guidance to high school seniors, helping each student to overcome traditionally challenging hurdles throughout their college search process. These tools are designed to help students on an individualized level, and -- when paired with our coaching support -- provide a wealth of expert guidance that ensure a student successfully enrolls in an affordable, supportive match school with minimal financial risk. Our program has four primary interventions across 15 months: 1) Financial coaching including FAFSA support 2) College matching; 3) Financial aid award letter comparison; and 4) Financial planning once students begin college enrollment.We designed our program to meet students where they are, providing important, applicable information at the exact moments they need it most, particularly outside of the classroom where they are making some of the most important decisions of their lives. By bringing critical financial and postsecondary information directly to a student's fingertips in real-time, we increase their access to the information they need throughout the college matriculation process, and in turn, increase their likelihood of successfully persisting through to graduation with minimal debt or financial burden.

Interesting data from their 2019 990 filing

The mission of the non-profit, as stated in the filing, is “Moneythink expands economic opportunity in the united states by equipping urban youth to believe in themselves, navigate the financial decisions of adulthood, and achieve financial prosperity. moneythink gets young people excited about making smart financial decisions and starts them down the path toward economic success - in turn, generating a financial ripple effect through families and entire communities.”.

When referring to its tasks, they were described as: “Financial education and peer mentorship to 11th and 12th graders”.

  • The non-profit is operating legally in the state of IL.
  • The non-profit's address for the year 2019 is listed as 100 S State Street 4th Floor, Chicago, IL, 60603 in the filing.
  • The form submitted by the non-profit organization for 2019 reports 13 employees.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $624.
  • The organization has 5 independent voting members.
  • The organization was formed in 2009.
  • The organization pays $933,785 in salary, compensation, and benefits to its employees.
  • The organization pays $198,924 in fundraising expenses.

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