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Cities for Financial Empowerment Fund Inc

Cities for Financial Empowerment Fund Inc

New York, NY 10005
Tax ID46-3612187

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About this organization

Revenue

$10,713,193

Expenses

$12,117,455

Mission

The CFE Fund’s mission is to leverage municipal engagement to improve the financial stability of low and moderate income households by embedding financial empowerment strategies into local government infrastructure. The Fund works with mayoral administrations and those interested in supporting them to implement innovative programs and policies—and measures its success accordingly.

About

Summer Jobs Connect (SJC): Through SJC, the CFE Fund works with 16 city governments to develop a national model for using the scale and infrastructure of municipal summer youth employment programs to integrate financial empowerment strategies and achieve greater impact. In addition to directly funding over 2,000 youth job slots each summer, the CFE Fund is supporting municipalities in developing targeted financial education and banking access strategies that take advantage of the paycheck opportunity.

Interesting data from their 2020 990 filing

The non-profit's mission, as documented in the filing, is “The cfe fund's mission is to leverage municipal engagement to improve the financial stability of households by embedding financial empowerment strategies into local government infrastructure. the cfe fund focuses programmatic, research, and policy efforts towards designing, embedding, and replicating financial empowerment initiatives within local government.”.

When explaining its purpose, the activities were described as: “Help cities build programs and strategies to support household financial stability.”.

  • The non-profit is legally allowed to operate in the state of NY, as reported.
  • The filing provides the non-profit's address in 2020 as 44 WALL STREET - SUITE 1050, NEW YORK, NY, 100052443.
  • The non-profit has a total of 19 employees, as reported on their form for 2020.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is -$1,404,262.
  • The organization has 5 independent voting members.
  • The organization was formed in 2013.
  • The organization pays $2,312,443 in salary, compensation, and benefits to its employees.
  • The organization pays $383,992 in fundraising expenses.

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