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Change Machine
Brooklyn, NY · EIN 760833915 · Form 990 · FY2023 · NTEE P50 · Human Services · Medium ($1M-$10M)
revenue
$2.7M
expenses
$3.3M
net assets
$2.0M
employees
27
volunteers
6
program ratio
62%
mission · from form 990

Change Machine's vision is an equitable economy in which we all thrive. Change Machine builds financial security through people-powered technology. We champion the aspirations of those who are most economically disadvantaged by oppressive public policies and practices namely Black and Brown women who navigate financial insecurity. Their success means success for all. Grounded in the expertise and solutions of financial coaches and customers, our technology reaches social service organizations and public agencies nationwide, transforming how they work with people to achieve their financial goals. Our data and research shape lasting change that addresses the economic effects of slavery and patriarchal policies removes barriers to financial security and shrinks the gender and racial wealth gap.

profile · synthesized from sources

Change Machine builds financial security through technology and services that support economically disadvantaged individuals, particularly Black and Brown women. The organization provides a cloud-based platform for financial coaches and social service practitioners, offers capacity-building training, and conducts research to inform policy changes. It operates nationwide, partnering with nonprofits and public agencies to reduce racial and gender wealth gaps.

irs program accomplishments · form 990 part iii · fy2023

What they reported doing

  1. #1 primary $726K
    PRODUCT DEVELOPMENT (PLATFORM) - BUILDING FINANCIAL SECURITY USING PEOPLE-POWERED TECHNOLOGY IS CORE TO CHANGE MACHINES MISSION. ITS REVOLUTIONARY CLOUD-BASED PLATFORM, WHICH OPERATES AS A B2B2C SOFTWARE AS A SERVICE (SAAS) SOCIAL ENTERPRISE, PROVIDES A SINGLE PLATFORM WHERE PRACTITIONERS CAN LEARN BEST FINANCIAL COACHING PRACTICES; ACCESS TOOLS AND INFORMATION; AND PARTICIPATE IN A PROFESSIONAL SOCIAL NETWORK SPECIFICALLY DESIGNED FOR THE FIELD. BUILT BY PRACTITIONERS FOR PRACTITIONERS, CHANGE MACHINES FINANCIAL COACHING PLATFORM PROVIDES A ONE-STOP SHOP FOR EFFECTIVE RESOURCES PRACTITIONERS CAN USE TO ADDRESS THEIR CUSTOMERS UNDERLYING FINANCIAL INSECURITY.
  2. #2 $455K
    RESEARCH & POLICY - CHANGE MACHINE DEVELOPS AND ADVOCATES FOR POLICY REFORMS AND SYSTEMIC CHANGES THAT WILL REMOVE OBSTACLES TO FINANCIAL SECURITY. CHANGE MACHINE BUILDS COALITIONS AND PARTNERS WITH ADVOCACY GROUPS, RESEARCHERS, THINK TANKS, PRACTITIONERS, AND LOCAL, STATE, AND FEDERAL POLICYMAKERS TO GUIDE AND SUPPORT ITS POLICY AGENDA. ITS IN-HOUSE RESEARCH AND POLICY TEAM SURFACES INSIGHTS USING CUSTOMER DATA CAPTURED ON THE CHANGE MACHINE PLATFORM. CHANGE MACHINE USES ITS DATA AND RESEARCH TO LEVERAGE LESSONS LEARNED ON THE GROUND TO CREATE IMPACT FAR BEYOND AN INITIAL PROGRAM - INFORMING BEST PRACTICES, THE FIELD, AND PUBLIC POLICY.
named programs · 4 · from sources

What they call their work

Capacity Building
Training and technical assistance for frontline staff and leadership at partner organizations to integrate financial security strategies into services.
Direct Services
Holistic services including access to financial coaches, training, and data insights provided to regional and sector-based nonprofits serving low-income communities.
Financial Coaching Platform
Cloud-based SaaS platform offering financial coaching tools, resources, and professional networking for practitioners working with low-income populations.
Research & Policy
In-house research and policy advocacy using platform data to identify systemic barriers and promote policy reforms addressing financial insecurity.
activities · 5 groups

What they do

  • Financial Coaching and Credit Counseling 2 activities
    • Conducts research and evaluates financial coaching impact
      Conducts research including a national randomized controlled trial (RCT) to evaluate the impact of financial coaching programs, demonstrating measurable improvements in savings, debt reduction, and credit scores, and uses findings to inform practice and policy.
    • Provides direct financial coaching services and virtual coaching support
      Delivers structured, data-driven financial coaching to clients through partnerships with nonprofits, including access to virtual financial coaches, coaching tools, training videos, communication aids, and a toolbox of over 150 financial education resources in English and Spanish.
  • Nonprofit Capacity Building Services 1 activity
    • Delivers technical assistance and implementation support to partner organizations
      Provides tailored implementation support calls, custom training, and ongoing technical assistance to help partner organizations integrate and standardize financial coaching practices into their operations, including support for embedding strategies across multiple sites.
  • Professional Association Capacity Building 1 activity
    • Facilitates professional networking and knowledge sharing
      Supports connection and collaboration among financial coaching professionals through interest- and skill-based groups and offers accessible knowledge and tools to enhance professional skills and client outcomes.
  • Professional Certification and Continuing Education 1 activity
    • Offers financial coaching training and professional development
      Provides comprehensive financial coaching training programs for frontline staff and leadership, including practitioner and manager training, train-the-trainer curricula, course certificates, and professional development resources to build financial knowledge, coaching skills, and confidence.
  • Data & Technology Capacity Building 1 activity
    • Operates cloud-based SaaS platform for financial coaching
      Develops and operates a cloud-based SaaS platform that enables social service organizations and public agencies to embed financial coaching into their services, including tools for tracking client financial goals, action plans, outcomes, and access to dashboards, reports, and standardized financial well-being assessments.
financials · form 990 · fy2023
revenue
Total revenue$2.66M
Contributions & grants$2.03M76%
Program service revenue$584K22%
Investment income$10K0%
Other revenue$37K
expenses
Total expenses$3.26M
Program expenses62%
Admin / overhead28%
Fundraising11%
Salaries & benefits$1.52M
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$2.68M
Cash$1.60M
Investments$0
Liabilities$674K
Net assets$2.01M
Liquid reserves5.9 mo
5 years on record · 2019–2023 · YoY revenue +100.2%
leadership · form 990 part vii · fy2023

Who runs it

paid leadership · 5
NameTitleHours/wkCompensation
Mae Watson Grote CEO 40 $340K
David Bautista Chief Prod & Tech 40 $183K
Kattherine Reeves Chief Strategy Off 40 $171K
Tamika Johnson Chief Engmt/Adopti 40 $169K
Martinez PaniaguaJesus Engineering Lead 40 $125K
board members · 6
  • Andy Tuckett — Treasurer
  • Jasmine Colquitt — Director
  • Jason Wallace — Director
  • Kevin McQueen — Board Chair
  • Rhonda Mower — Director
  • Ross Hamilton — Director
relationships · 24

Who they work with

  • Anna Romagnoli Partner — Contact person for cy pres award inquiries
  • Atlanta Center for Self Sufficiency Partner — Partner organization using Change Machine’s online community to enhance financial coaching practices.
  • CFPB Partner — Incorporates the CFPB’s Financial Well-Being Scale into its data management system.
  • Center for Urban Families Partner — Partner organization using Change Machine’s FAQ resources and PDF worksheets in their services.
  • Community Action Marin Partner — Partner organization using Change Machine’s content on banking to improve client understanding of account management and fees.
  • Consumer Financial Protection Bureau Government — Funded a national study on the impacts of financial coaching programs
  • Consumer Financial Protection Bureau Partner — Integrates the CFPB’s Financial Capability Scale into its assessment tools.
  • Per Scholas Partner — Partner organization that has standardized financial coaching using Change Machine's platform.
  • Salesforce Partner — COACH is available on the Salesforce AppExchange, indicating a technology integration partnership.
  • Self-Help Partner — Partner organization whose coaches use Change Machine’s training videos and client communication tools.
  • Twilio Partner — Integrates Twilio’s text message platform into its CRM for client communication.
  • Urban Institute Partner — Co-conducted a national evaluation of financial coaching programs
  • Workforce Snohomish Partner — Partner organization using Change Machine to support clients in financial planning for education and business.
  • Worklife Partnership Partner — Partner organization utilizing Change Machine’s platform for financial data tracking and coach development.
  • advocacy groups Partner — Collaborates with advocacy groups to guide and support policy agenda on financial security.
  • financial institutions Partner — Provides financial empowerment solutions to financial institutions
  • government agencies Partner — Partners with government agencies to deliver scalable financial empowerment solutions.
  • government agencies Partner — Provides financial empowerment solutions to government agencies
  • local, state, and federal policymakers Government — Engages with policymakers at all levels of government to advance policy reforms related to financial security.
  • nonprofit organizations Partner — Provides financial empowerment solutions to nonprofit organizations
  • nonprofits Partner — Partners with nonprofits to deliver scalable financial empowerment solutions.
  • partnership team Partner — Team available for inquiries, live demos, and onboarding support.
  • researchers Partner — Partners with researchers to inform policy and practice through data and research.
  • think tanks Partner — Works with think tanks to develop and advocate for systemic policy reforms.
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Client-Centered Financial Coaching Model
    methodology: client_centered_coaching
    By positioning clients as experts in their own lives, we produce greater engagement and progress toward financial security, because honoring client agency fosters trust, personalization, and sustainable behavior change.
  • Organizational Embedding of Financial Coaching
    methodology: organizational_embedding
    By helping organizations integrate financial coaching into their core operations through tailored capacity building, we produce systemic and sustainable service delivery, because embedding within existing infrastructure improves scalability and long-term adoption.
  • Peer-Based Learning and Professional Development
    methodology: peer_based_learning
    By fostering peer learning communities and ongoing coach development, we produce stronger professional capacity and wider dissemination of best practices, because social collaboration and continuous education reinforce skill retention and innovation more effectively than one-time training.
  • Practitioner-Led Technology Design
    methodology: practitioner_led_design
    By designing technology platforms with input from financial coaches and practitioners, we produce more usable, effective tools that align with real-world needs and values, because field-informed design increases adoption and relevance in service delivery.