2024-11-08T11:49:40-06:00 2023-12-31 431985162 SMITH SULLIVAN & BROWN PC 80 FLANDERS ROAD SUITE 302 WESTBOROUGH MA 01581 990 2023-01-01 113795547 FINANCIAL EDUCATION ASSOCIATES INC FINA 8888390963 184 DUDLEY STREET SUITE 200 BOSTON MA 02119 DENISHA MCDONALD EXECUTIVE DIRECTOR 8888390963 2024-11-08 1 0 SANDRA M BROWN CPA P01614103 5088717178 2024-11-08 2023 2024-10-15 13:58:12Z DENISHA MCDONALD 184 DUDLEY STREET SUITE 200 BOSTON MA 02119 219768 0 X HTTPS://WWW.MONEY-CLASSES.COM X 2006 MA THE ORGANIZATION'S MISSION IS TO PROVIDE UNBIASED INFORMATION TO MASSACHUSETTS LOW AND MODERATE-INCOME RESIDENTS ORGANIZING THEIR FINANCES TO ACHIEVE LARGER FINANCIAL GOALS. THESE GOALS INCLUDE HOME PURCHASES, EDUCATION, ENTREPRENEURSHIP AND RETIREMENT. 4 4 5 0 0 0 75315 50000 158003 169768 0 0 0 0 233318 219768 0 0 0 0 123376 121408 0 0 9729 37206 45575 160582 166983 72736 52785 199493 234312 21959 3993 177534 230319 X THE ORGANIZATION'S MISSION IS TO PROVIDE UNBIASED INFORMATION TO MASSACHUSETTS LOW AND MODERATE-INCOME RESIDENTS ORGANIZING THEIR FINANCES TO ACHIEVE LARGER FINANCIAL GOALS. THESE GOALS INCLUDE HOME PURCHASES, EDUCATION, ENTREPRENEURSHIP AND RETIREMENT. 0 0 91391 169768 FEA HAS PROVIDED HOMEBUYER EDUCATION CLASSES SINCE ITS INCEPTION AND HAS GRADUATED OVER 15,000 PEOPLE. THE ORGANIZATION ALSO PROVIDES FINANCIAL EDUCATION SEMINARS, ONLINE HOMEBUYER CLASSES, ONLINE LANDLORD CLASSES AND CLASSES FOR NEW HOMEOWNERS. FEA ALSO PROVIDES CLASSES AND SEMINARS IN BOSTON AND EASTERN MASSACHUSETTS. SINCE THE COVID-19 PANDEMIC, ALL CLASSES AND SEMINARS ARE IN WEBINAR FORMAT USING ZOOM. ON-DEMAND ONLINE CLASSES ARE AVAILABLE TO THOSE WHO DESIRE TO TAKE THE CLASS IN THEIR OWN TIME OR WHO ARE UNABLE TO ATTEND CLASSES NEAR THEIR HOME. WE PROVIDE CLIENT-SPECIFIC CURRICULUM TO FIT OUR CLIENTS' SPECIFIC NEEDS. WE HAVE WORKED WITH LOW AND MODERATE-INCOME INDIVIDUALS FOR GOAL RELATED SAVINGS PROGRAMS TO PREPARE FOR HOMEOWNERSHIP, STARTING A BUSINESS, RETIREMENT, AND POST-SECONDARY EDUCATION. TO HELP MASSACHUSETTS HOME BUYERS PREPARE FOR THE RESPONSIBILITIES OF HOMEOWNERSHIP, WE OFFER HOMESAFE, FRAMEWORK, HOMEBUYING 101, HOMEBUYING 100, LANDLORD CLASSES AND WHAT'S NEXT SEMINAR FURTHER OUTLINED BELOW. HOMEBUYING 101 CLASSES: HOMEBUYING 101 IS AN 8-HOUR CLASS (TWO FOUR-HOUR SESSIONS OR FOUR TWO-HOUR SESSIONS) THAT EDUCATES PARTICIPANTS ON THE HOME PURCHASE PROCESS IN MASSACHUSETTS. INFORMATION INCLUDES SPECIAL PROGRAMS FOR FINANCIAL ASSISTANCE IN BUYING AND REPAIRING A HOME, SPECIALTY MORTGAGE PRODUCTS, THE PROCESS OF GETTING A MORTGAGE, FINDING A HOME, AND DETERMINING IF THE HOME IS RIGHT IS FOR YOU. WE ALSO DISCUSS THE PURCHASE PROCESS AND SUSTAINABLE HOMEOWNERSHIP ISSUES. THE CERTIFICATE EARNED UPON SUCCESSFUL COMPLETION OF THE CLASS CAN BE USED TO SATISFY THE EDUCATION REQUIREMENTS FOR MASSHOUSING MORTGAGES, ONE MORTGAGE, AFFORDABLE HOMEOWNERSHIP LOTTERIES, DOWN PAYMENT/CLOSING COST ASSISTANCE, AND BANK FIRST-TIME HOMEBUYER PRODUCTS.FRAMEWORK: FRAMEWORK IS AN ONLINE FIRST-TIME HOMEBUYER PROGRAM ACCEPTED THROUGHOUT MASSACHUSETTS FOR FIRST-TIME HOMEBUYER EDUCATION. THE CERTIFICATE EARNED UPON SUCCESSFUL COMPLETION OF THE ONLINE PROGRAM AND INDIVIDUAL COUNSELING SESSION CAN BE USED TO SATISFY THE EDUCATION REQUIREMENTS FOR MASSHOUSING MORTGAGES, ONE MORTGAGE, AFFORDABLE HOMEOWNERSHIP LOTTERIES, DOWN PAYMENT/CLOSING COST ASSISTANCE, AND BANK FIRST-TIME HOMEBUYER PRODUCTS. ACCESS TO THE PROGRAM IS AVAILABLE 24/7 SO THAT PARTICIPANTS CAN START WHEN THEY WANT AND TAKE AS LONG AS THEY WANT. FEA'S COUNSELING SESSIONS ARE HELD ONLINE USING ZOOM, MONDAY THROUGH THURSDAY AND CAN BE ACCESSED BY COMPUTER, SMARTPHONE OR TABLET.WHAT'S NEXT?: WHAT'S NEXT IS A 1-HOUR SEMINAR FOR FIRST-TIME HOMEBUYER PROGRAM GRADUATES. THE PROGRAM OUTLINES HOW TO EVALUATE MORTGAGE ELIGIBILITY, MORTGAGE PROGRAMS FOR FIRST-TIME BUYERS, AND HOW TO CHOOSE A LENDER. HOMEBUYING 100: HOMEBUYING 100 IS A HOMEBUYER INFORMATION CLASS SPONSORED BY THE CITY OF BOSTON HOME CENTER. THE CLASS INCLUDED THE STEPS TO HOMEOWNERSHIP AND HOW TO PREPARE FOR THE HOMEBUYING PROCESS. THE 90-MINUTE CLASS IS OFFERED FREE TO THE PUBLIC.LANDLORD CLASS: THE FANNIE MAE LANDLORD CLASS IS ACCEPTED BY MASSHOUSING AND MASSACHUSETTS HOUSING PARTNERSHIP FOR LANDLORD EDUCATION. THE CERTIFICATE IS EARNED UPON SUCCESSFUL COMPLETION OF READING THE COURSE MATERIALS, COMPLETING THE FINAL EXAM AND INDIVIDUAL COUNSELING SESSION. HOMESAFE: HOMESAFE IS A PROGRAM DESIGNED TO PROVIDE INFORMATION FOR HOMEOWNERS. IN THE HOMESAFE CLASS, PARTICIPANTS WILL LEARN: HOW TO ADDRESS MAINTENANCE AND REPAIR ISSUES IN THEIR HOME HOW TO PREPARE FOR UPDATING THEIR HOME HOW TO KEEP THEIR HOME SAFE FROM FIRE AND THEFT HOW TO MAINTAIN THEIR FINANCES AS A HOMEOWNER HOW TO MAKE SURE THE OWNER AND THEIR HOME ARE ADEQUATELY COVERED BY INSURANCE HOW TO ADDRESS LANDLORD ISSUES HOW TO BE AN EFFECTIVE CONDOMINIUM OWNER THIS PROGRAM IS SUPPORTED BY THE MASSACHUSETTS HOUSING PARTNERSHIP. 91391 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 MA X X DENISHA MCDONALD EXECUTIVE DIRECTOR 8888390963 184 DUDLEY STREET SUITE 200 BOSTON MA 02119 AIDA FRANQUIZ PRESIDENT 1.00 X X 0 0 0 MICHELLE MEISER TREASURER 1.00 X X 0 0 0 ISABEL S CRUZ CLERK 1.00 X X 0 0 0 ANGELO S NUBY BOARD MEMBER 1.00 X 0 0 0 JACQUELINE COOPER EXECUTIVE DIRECTOR 40.00 X 94000 0 2022 94000 0 2022 0 0 0 0 0 50000 50000 CONTRACT SERVICE REVEN 900099 102520 102520 TUITION FEES 900099 67248 67248 169768 219768 169768 0 0 89022 40060 40060 8902 23740 23740 8646 4910 3057 679 13822 13822 5561 5561 2594 2594 9203 3562 5569 72 7030 7030 418 418 970 551 343 76 PROGRAM SUPPLIES AND AC 5204 5204 PROFESSIONAL DEVELOPMEN 773 773 166983 91391 65863 9729 147743 173612 500 50500 35000 0 16250 10200 199493 234312 11265 3993 10694 0 21959 3993 X 177534 230319 177534 230319 199493 234312 52785 0 X 1 X 0 0 0 X 18250 22015 7500 75315 50000 173080 45740 160788 172477 158003 169768 706776 63990 182803 179977 233318 219768 879856 0 2500 91215 81260 79660 91450 346085 2500 91215 81260 79660 91450 346085 533771 63990 182803 179977 233318 219768 879856 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE DIRECTOR, TREASURER, AND THE SECRETARY REVIEW THE 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY THAT DISCLOSES ANY AND ALL FINANCIAL INTERESTS THAT MAY PRESENT A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST