NonprofitsCommon Wealth Charlotte

Education

Common Wealth Charlotte

CHARLOTTE, NC

Total revenue

$1.2M

Total expenses

$1.5M

Net assets

$1.6M

Grants received

$2.5M

64 grants

EIN

300842673

Tax year

2024

Mission

To equip low-income wage earners with increased financial capability so they can attain financial stability and decrease reliance on charitable assistance. This is achieved through a trauma-informed approach including education, personalized counseling, access to banking, and no-interest loans.

Programs

2 programs

VITA Latino exists to build relationships within the Latinx community, laying foundations which lead to trust-based counseling and easier access to reliable credit union services. VITA Latino has to date served 3,102 individuals with 1,549 filings accounting for $2,150,508 in refunds, and $479,050 in tax preparation savings. It has also delivered $784,176 in federal and state income taxes paid.

Expenses: $299K

Financial literacy education, including workshops and certified one-to-one credit counseling focused on creating and reviewing a balanced spending plan, a deep dive into credit reports, identifying strategic pay-off of debt items, recognizing the high cost of predatory financial products, and rebanking at non-predatory financial institutions.

Expenses: $231K

Financials

FY 2024

Revenue

Contributions & grants$1.1M
Program service revenue
Investment income$34K
Other revenue$22K
Total revenue$1.2M

Expenses

Grants paid$41K
Salaries & benefits$1.0M
Fundraising$161K
Other expenses$381K
Total expenses$1.5M
Total assets$1.6M
Net assets$1.6M

People

14 listed

NameRoleCompensation

Chuck Jones

Executive Dir.

Board

$140K

50 hrs/wk

Kayla Taylor

Board Chair

Board

4 hrs/wk

Vanessa Hall

Board Secretary

Board

4 hrs/wk

Faye Gaddy

Board Treasurer

Board

4 hrs/wk

Barbara Meeks

Director

Board

2 hrs/wk

Raquishela Stewart

Director

Board

2 hrs/wk

Pamela Hutson

Director

Board

2 hrs/wk

Rukiya Kelly

Director

Board

2 hrs/wk

Sam Smith

Director

Board

2 hrs/wk

Kim Sloat

Director

Board

2 hrs/wk

Vanessa Clark

Director

Board

2 hrs/wk

Brian Li

Director

Board

2 hrs/wk

Amy Jacobs

Secretary

Board

2 hrs/wk

Devin Norales

Director

Board

2 hrs/wk

Grants received

Showing 64 of 64

FromAmountPurposeYear
$242K
CHARITABLE GIFT
2024
$100K
FINANCIAL EDUCATION AND ACCESS TO FI
2024
$30K
FINANCIAL CAPABILITY
2024
$20K
TRAUMA-INFORMED FINANCIAL CAPABILITY-BUILDING SERVICES
2024
$1K
Further Exempt Function
2024
$550
General Support
2024
$168K
CHARITABLE GIFT
2023
$100K
General Support
2023
$100K
FINANCIAL EDUCATION AND ACCESS TO NO
2023
$60K
GENERAL OPERATING
2023
$35K
FINANCIAL CAPABILITY
2023
$33K
PROGRAM/OPERATING SUPPORT
2023
$25K
GENERAL OPERATING PURPOSE
2023
$20K
TRAUMA-INFORMED FINANCIAL CAPABILITY BUILDING
2023
$15K
Operating Support/Annual Fund
2023
$6K
For grant recipient's exempt purposes
2023
$5K
GENERAL PURPOSE
2023
$1K
PROGRAM/OPERATING SUPPORT
2023
$1K
Further Exempt Function
2023
$535
PROGRAM/OPERATING SUPPORT
2023
$535
PROGRAM/OPERATING SUPPORT
2023
$500
General & Unrestricted
2023
$100
PROGRAM/OPERATING SUPPORT
2023
$116K
CHARITABLE GIFT
2022
$100K
FINANCIAL EDUCATION AND ACCESS TO FI
2022
$25K
PROGRAM/OPERATING SUPPORT
2022
$22K
CHARITABLE DONATION
2022
$15K
Operating Support/Annual Fund
2022
$9K
GENERAL SUPPORT
2022
$500
Further Exempt Function
2022
$200
EMPLOYEE MATCHING GIFT DONATION
2022
$50K
CREDIT BUILDER FUND
2021
$48K
Unrestricted Funds
2021
$48K
Unrestricted Funds
2021
$15K
Operating Support/Annual Fund
2021
$10K
ADVISED - FOR GENERAL OPERATING SUPPORT.
2021
$108K
GENERAL SUPPORT
2020
$48K
Unrestricted Funds
2020
$40K
COVID19 FUNDING SUPPLEMENT
2020
$25K
RESILIENCE LOAN PROG
2020
$25K
FINANCIAL EDUCATION PROGRAMS & SERVI
2020
$20K
COVID-19 One-to-One Financial Counseling
2020
$20K
GENERAL OPERATING
2020
$16K
CHARITABLE GIFT
2020
$15K
Operating Support/Annual Fund
2020
$10K
ADVISED - FOR GENERAL OPERATING SUPPORT.
2020
$550
EMPLOYEE MATCHING GIFTS
2020
$20K
Operating Support/Annual Fund
2019
$10K
FOR GENERAL OPERATING SUPPORT.
2019
$5K
Emergency Support
2019
$25K
TRAUMA-INFORMED FINANCIAL EDUCATION
2018
$23K
DONOR DESIGNATED (AND 3RD PARTY) FOR GENERAL SUPPORT, PROGRAM OPERATING COST
2018
$15K
PROGRAM/OPERATING SUPPORT
2018

Funded by

$2.5M from 23 funders · 64 grants · 2018–2024

Foundation For The Carolinas

$542K · 4 grants · 2020–2024

Merancas Foundation Inc

$390K · 6 grants · 2018–2024

American Online Giving Foundation Inc

$287K · 2 grants · 2023–2024

The LendingTree Foundation

$251K · 3 grants · 2022–2024

Womens Impact Fund

$143K · 3 grants · 2020–2021

United Way Of Greater Charlotte Inc

$131K · 2 grants · 2018–2020

The Leon Levine Foundation

$100K · 1 grant · 2023

The Bank of America Charitable Foundation Inc

$95K · 10 grants · 2018–2023

Details

EIN300842673
NTEE codeB90
Subsection03
Ruling date2015-02
Formed2014
Employees16
Volunteers200
COMMON WEALTH CHARLOTTE — Mission, Financials & Grants Received | Grantivo