For every dollar invested in mpowered in 2017, $1.70 was returned to the community.

This number alone is impressive, and it represents just the beginning of the journey to financial security for the families we serve.

Letter from the Acting Executive Director

Dear mpowered Community,

2017 was a remarkable, unforgettable, and transformative year for mpowered. Most notably, we found ourselves without our Co-Founder and Executive Director of 16 years starting in June of 2017. It was hard to see Chad Gentry leave, and we were excited to see him pursue new opportunities and spend some good, quality time with his family after dedicating so much to the organization. We are eternally grateful for his contributions and, in line with our values, will Move Forward and Steady On toward mission achievement.

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mpowered-family-growth

We will never forget 2017 as the year we saw our coaching team grow to meet the intense need in the Denver Metro community for financial security. Over 3,000 individuals and families came through our doors to engage in financial coaching, receive financial education, and take advantage of our Debt Management Program. Together these individuals reduced their debt by over $4 Million dollars, including mortgage debt. Non-mortgage debt alone was reduced by $1.7 million dollars, which means that for every dollar invested in mpowered in 2017, $1.70 was returned to the community. This number alone is impressive, and it represents just the beginning of the journey to financial security for the families we serve.

What we’re really excited about is what that debt reduction will mean in the coming years for those families. We know that when debt is reduced, so is financial stress, which is the #2 cause of stress nationwide according to the American Psychological Association. With reduced stress, we expect to see more intentional financial decision making leading to increased credit, savings, and ability to build assets in the form of home ownership. Given the Denver Metro Area’s struggle with affordable housing, we hope our 2017 results are the first rays of hope for these families. We have only just begun to see how financial coaching can transform our communities, and we are anxiously tracking, analyzing, and preparing to build on these successes in order to take the next step toward our vision of Financial Security for All. Thank you for your continued support, it is our network of partners, funders, donors, and clients that provide the necessary motivation, energy, and hope that keeps us moving!

Sincerely,

Benjamin Weeda
Acting Executive Director

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Our Impact

mpowered helped families reduce $4MM in debt across all programs

(including mortgage debt)

Our Programs

Financial Coaching Program

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Financial Coaching is a relational process for working toward financial goals.

Through coaching, individuals become empowered to make choices and take actions that align with their values. In 2017, 9 of our 10 locations were integrated sites where we worked with partner nonprofit and government agencies to provide coaching to their clients receiving services for housing, workforce, benefit navigation, and food security.

Financial Coaching Sessions

Families
Served

Outcomes
Achieved

83% < 80%

83% of clients we served were below 80% Area Median Income

Financial Education Program

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Our Financial Education classes encourage participant behavior change by supporting action oriented, real life application, and draw on participant’s personal experience.

Topics include Five Financial Foundations, Budgeting and Money Management, Credit, Debt, and Talking to Kids about Money.

Participants
Served

Classes
Taught

%

Percentage of participants that intend to take action based on class information.

Total participants to complete Be mpowered, a four class series on health-related advocacy and how it connects to financial health.

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Debt Management Program

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Our Debt Management Program provides our clients the opportunity to proactively and responsibly address their debt load with a certified coach while repaying their debts quicker and at a lower interest rate with one consolidated monthly payment.

New participants enrolled with combined debt of $600k

Participants successfully completed DMP

Average number of months to pay off debts

Total Unsecured Debt Reduced

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Our Clients

Edith was asking me questions that directed my thoughts about my finances in directions I had not gone before. It was cathartic for me. Even emotional, not expected but well received. I am excited to continue my work with her. Thank you for your service today! I look forward to our next meeting.

~ Todd

DMP/mpowered has been teaching us to take back control of our finances. With credit cards, you feel as though you have control – but you really don’t.We’ve learned to only spend money that we actually have – a much bigger adjustment than many might think. I’d say the biggest positive impact is that it has helped us to see the light at the end of the debt tunnel – we definitively know when we will be out of credit card debt, and see that number reach closer to 0 every month.

~ Kyle and Susie

It’s hard to commit to the process. The minute we put some money away, an emergency would come up and all of that savings would go away to cover it.But, you have to persevere. mpowered is a tool, and you have to put it to work for you.

~ Khadijatu

I was resistant to this class but it came at a great time for our family. I feel empowered with tools from our discussions.

~ Anonymous

I have been able to start building my savings, and I recently moved into my new Habitat for Humanity home! I’m now part the Home Owners Association board and I plan to use what I learned to make sure everyone’s voice is heard.

~ Yolanda

It hasn’t been easy, but it feels good to be in a place where I am comfortable, even if I’m not making a lot of money yet. I never believed I could be a business owner and actually make money. Now I can dream again and that makes me feel happy and confident.

~ Rochelle

We found mpowered through Bellco. We put mostly credit cards into our account, we also added a student loan. The positive that has come from DMP- we didn’t have the skills to pay off that debit, we never would have been able to pay off the debit in as timely of a fashion, or at all w/o the DMP. Meeting with our counselor has helped us see where our money goes and to realize how important communication is for us. We would definitely consider going back to mpowered if we got ourselves into trouble again. But we hope that we will have gained the knowledge and skills to keep us out of trouble. We ultimately joined mpowered because we were tired of being so in debit. We were hoping to gain the budgeting skills we never learned.

~ Shannon

Locations

mpowered HQ

2009 Wadsworth Blvd.
Lakewood, CO 80214

Mountain Resource Center

11030 Kitty Dr.
Conifer, CO 80433

Center for Work Education and Employment

1075 Osage St.
Denver, CO 80204

Central I-70 Neighborhood Training Center

3600 E. 46th Ave.
Denver, CO 80216

Denver Human Services, Castro Building

1200 Federal Blvd.
Denver, CO 80204

Denver Workforce Center at Montbello

4685 Peoria St.
Denver, CO 80239

Eastside Human Services Building

3815 Steele St.
Denver, CO 80205

Habitat for Humanity of Metro Denver

3245 Eliot St.
Denver, CO 80211

Mi Casa Resource Center

345 Grove St.
Denver, CO 80219

Warren Village

1323 Gilpin St.
Denver, CO 80218

2017 Audited Financials

Revenue & Support

Government Grants

$509,355

Other Grants, Private Contributions, Special Events

$516,483

Program Fees

$151,066

Other Income

$1,561

TOTAL

$1,178,465

Expenses 

Program Services

$697,257

Management and General

$127,976

Fundraising Activities

$150,160

TOTAL

$975,393

Change in Net Assets 

$203,072

Total Net Assets

$203,072

2017 Funders and Supporters

ANB Bank

Anschutz Family Foundation

Anschutz Foundation

Bank of the West

BBVA Compass

Bellco Credit Union

Capital One

City Wide Banks

Enterprise Car Sales

Colorado Housing Financial Authority

Colorado Lending Source

Community First Foundation

Credit Union of Colorado

Denver Community Credit Union

Denver Office of Financial Empowerment

Kaiser Permanente

Key Bank

Mile High United Way

Rose Community Foundation

State of Colorado Working Together Program

The Colorado Health Foundation

The Denver Foundation

The Piton Foundation at Gary Community Investments

Trion Promotions

URBN Brands

Wells Fargo Corporate Giving

Wisdom Wealth Strategies

Women With a Cause Foundation

Xcel Energy

2017 Board of Directors

Nancy A. Harvey, Board Chair

Senior Vice-President, ANB Bank

Christina Frantz, Vice-Chair

AVP, Talent Acquisition, Inclusion and Social Responsibility, Great-West Financial

Drew Bauer, Treasurer

Senior Audit Manager, Grant Thornton LLP

Debbe Kirkpatrick, Secretary

Vice President of Lending, Credit Union of Colorado

Christopher Brunson, Member At-Large

Residential Redeveloper, Buttoned Up Home Solutions

James Pérez Foster, Member At-Large

Principal, Bainbridge Advisors, LLC

Sean Koutsakis, Member At-Large

Senior Vice President – Market Leader, Bank of the West Wealth Management

Heidi Mingo, Member At-Large

Colorado Account Development Specialist, Breakthru Beverage Group

Ken Navarro, Member At-Large

Colorado Area Mortgage Sales Manager

Marie Peters, Member At-Large

Loan Officer, Colorado Lending Source

Angela Sasseville, Member At-Large

Owner, Flourish Counseling & Coaching

© Copyright. mpowered • Wadsworth Blvd., Ste. 100, Lakewood, CO 80214 • Ph: 303.233.2773 • Fax: 303.233.2797