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Dear JIFFI Family,

Serving as the Chief Executive Officer for JIFFI this past semester has been a truly humbling experience. I
learned and grew in so many different ways. My role as the CEO could not have been any easier with such
an amazing Executive Team who deserve more credit than I can ever give them. Without their dedication,
passion, and help, I don’t think JIFFI could have accomplished a fraction of what we got done this semester.
At the start of my tenure, I set out four goals for this semester: to finish raising $1000, to grow our savings,
to better connect with the community, and to improve client services. While there are areas to improve and
further develop, I am proud of all the work each member of this organization has contributed to realizing
goals set out at the start.

Addressing the first goal, we raised $350 through the South Bend Cubs fundraiser, and already raised over
$2000 through our crowdfunding campaign. We to use the additional capital for expanding our services. For
the second goal, we identified a few savings account options that we hope to implement. We made strides
in the third goal of connecting with the community. We held a service event through one of our partners—
Hope Ministries. In addition, we joined Help with Love—a network of churches that refer its members
to services in times of need. While JIFFI remains apolitical and nonreligious, joining this network could
expand our reach and better serve the needs of the community. We also made a connection with the City
of South Bend’s Office of Community Investment to discuss how JIFFI can expand in the future to best serve
South Bend. Finally, we significantly improved our client services. Our Human Asset Management division
transformed into a dedicated loan division, to maintain relationships with clients to reduce defaults. Our
Community Relations division developed the Community Resources Guide—to be given out to all regardless
of loan decisions—which details out different organizations in the city and services each provide.

Looking forward to next year, I hope to better internally organize JIFFI and expand our services. I want to
increase accountability and trust internally, functioning as a seamless organization, so that we can focus on
best serving needs of the city. From the revamped HAM division to increased number of board meetings,
I hope that JIFFI can transition into a better functioning nonprofit. Next, I want to expand the available
services JIFFI offers, providing more than just loans. Reaching out to organizations like St. Margaret’s House
and the YWCA, I want to explore options of supporting victims of domestic violence. I want to transition JIFFI
into a truly community based financial service organization, where we provide a diverse array of services to
our community.

I am looking forward to what next year has to offer, working with the most amazing Executive Team to put
goals into actions. I want to thank the Board of Directors for this opportunity, and I hope to deliver on my

John Kang
CEO, Jubilee Initiative for Financial Inclusion


Who we are:
The Jubilee Initiative for Financial Inclusion (JIFFI) is a nonprofit community financial services
provider founded by University of Notre Dame and Saint Mary's students. We aim to replace
predatory payday lending that perpetuates poverty in South Bend. We offer cash advances
supplemented by helpful personal financial planning tools to help our clients get ahead
instead of falling behind.

Our mission:
To enable our clients to unlock their full potential through affordable credit solutions,
financial empowerment programs, and supportive relationships.

Our vision:
To shape a better financial environment for our community and uphold the financial dignity
of every individual by providing access to fair credit and opportunities to build financial

What we offer:
Affordable Credit Solutions
We provide emergency loans that alleviate financial hardship for clients facing difficult
circumstances. By lengthening loan terms and offering an APR of 21%, we present an
accommodating alternative to exploitative payday loans.

Achieving Financial Dignity

Our goal at JIFFI is to help each client realize his or her own financial dignity. We provide
access to fair credit opportunities to build financial assets so that our clients can focus on
their dreams and aspirations instead of worrying about making it to the next paycheck.
Through our financial empowerment programs, we help our clients build the financial
awareness they need to turn those dreams into reality.

Building Relationships That Last

We strive to form significant relationships with each one of our clients, growing in our
shared sense of community and developing our understanding of human solidarity in
the process. Each client brings a unique story that enables us to tailor potential loans to
fit their specific needs with the hope that our assistance will propel them to brighter and
more stable futures.

Senior Speaker Series
In an effort to not only learn more about the
members within our own organization, but also
to pass on some hard-earned knowledge, JIFFI
All-Staff meetings in the spring began with a
short talk from a current Senior. Advice ranging
from weather to workouts was shared through
these fun and informational talks!

REAL Services Outreach

At the beginning of the school year, Emily Pohl

and Vivian Crumlish (pictured left to right)
represented JIFFI in collaboration with REAL
Services of South Bend who is “an umbrella
organization of more than 20 programs
that assist elderly, disabled and low-income
individuals in 12 Northern Indiana Counties.”
We understand the importance of engaging
with our community partners, and Emily and
Vivian were able to spread the word about our
organization in the process!

Hope Ministries CANstruction Event
In the spring, members of JIFFI went to the University Park Mall to assist Hope Ministries with
their CANstruction event. Members of JIFFI helped Hope Ministries pack enough food to feed
their residents for over two months. We had an awesome time helping our community partner
and assisting them in their mission much like they do for us!

Amazon Smile
You can still choose JIFFI as your charity of choice on AmazonSmile. Just head over to,
choose the Jubilee Initiative for Financial Inclusion, download the SmileAlways chrome plugin, and you’re
all set! Now 0.5% of all your purchases will go directly towards helping promote financial inclusion in the
South Bend community!

South Bend Cubs
Once again JIFFI was able to partner with the South Bend Cubs and sell tickets to their April 12 game with a
portion of these ticket sales coming back to support JIFFI. Attendees enjoyed beautiful weather, discounted
beverages, and a free SB Cubs hat!

Spring 2018 Crowdfunding

In order to give us a greater ability to further our mission to help the South Bend community,
we have created a crowdfunding campaign through CauseVox. Halfway through the
campaign, we have already raised over $2,000! Visit to donate!

FEP Classes Expand
Since October, our Financial Empowerment program
has finished up teaching classes at the RCLC and
Imani Unidad. More recently, they have begun
teaching classes at Prairie Vista Elementary School as
well as the YWCA and additional classes at the RCLC.
Our Financial Empowerment Program does a great
job educating individuals in the community about the
importance of goal-setting, proper use of credit and
long-term saving amongst other important aspect of
financial literacy.

Meeting Muhammad Yunus

Recently, our Vice President of Community Relations, Emily Pohl, had the
opportunity of meeting up with Muhammad Yunus, Nobel Peace Prize
winner, during his visit to ND. He is a social entrepreneur, banker, economist,
and leader from Bangladesh recognized for
founding the Grameen Bank and pioneering
concepts of microcredit and

JIFFI Mentorship Program

With a growing organization, it is necessary to maintain strong relationships within JIFFI’s members.
For this purpose, we have established a new mentorship program partnering upperclassmen with
underclassmen based on their majors. This not only strengthens relationships but enables easier
communication between members. When asked about her mentor, first-year Connie Chen says “Whether
it be professional or personal matters, having someone who is there to support me and give me valuable
insight on similar experiences has been tremendously helpful in my first year. I’ve been able to reach
out to my mentor regarding any thoughts or ideas I have about my progress as an associate, and he’s
challenged my perspective and helped me feel more comfortable in my work.”

South Bend Heritage

South Bend Heritage is a nonprofit organization that was established in July 1974 to help reverse the
physical and social decline taking place in South Bend’s urban neighborhoods. It is committed to the
stabilization and empowerment of the South Bend community, and its projects include rehabilitating
homes for resale, house moves and operating a loan fund that helped over 35 owners restore their
homes. Since its establishment, South Bend Heritage has cultivated and maintained $60 million in direct
residential and commercial development, and 311 residential rental units in four main sites and several
scattered sites.

St. Joseph County Bridges Out of Poverty

The St. Joseph County Bridges Out of Poverty Initiative takes a breakthrough framework to break the cycle
of poverty and create community sustainability. SJC Bridges and its partner organizations have graduated
more than 300 people from a 15-week workshop called GETTING AHEAD in a Just Gettin’ By World. SJC
Bridges also trains employers, schools, colleges, agencies, churches, schools and individuals, and provides
avenues to get involved. The success of SJC to educate, collaborate and advocate is creating a group
of citizens - working across sectors, political parties, and economic class committed to the long-term
sustainability and well-being of our community.

South Bend Center for the Homeless

The South Bend Center for the Homeless has
provided more than 700,000 safe nights and
over 1.5 million meals to more than 50,000 men,
women and children. Its main focus, however, is St. Margaret’s House improves the lives of
not just life-saving, but providing members with women and children by providing individual
life-changing services by linking them with the attention to their immediate needs,
programs, agencies and people who can break the breaking the bonds of isolation and helping
cycle of homelessness. Its mission is threefold: (1) them acquire skills to better their lives.
break the cycle of homelessness, (2) bring together Through a philosophy of shared ownership
disparate groups so that each can discover the in St. Margaret’s House, guests become
worth, dignity and potential of the other, and (3) empowered by participating in planning and
pioneer a service model worthy of replication. decision making.

Hope Ministries
Hope provides emergency and transitional housing for 18 families with
children, 35 single men and 16 single women. Typical length of stay is
12-18 months. All residents are served three meals per day at nocost. In
addition to feeding our residents, Hope serves lunch and dinner every day
of the year at no cost to any other person from the community who comes
to us. Through on-site services and partnerships with local agencies and
providers, Hope helps residents access both basic and specialized mental,
emotional and physical health care services.

The YWCA offers a broad range of services that helps victims of domestic violence
and sexual assault heal and make a new start through programs like Healing
Pathways, Take Charge of Dating Violence Prevention, and the New Hope Sexual
Assault Survivors Program. The Women’s Journey Chemical Dependency program
offers residential and non-residential treatment and detoxification services.
The Brighter Tomorrows Economic Empowerment Program helps womenreach
their financial goals by providing education resources in financial literacy, job
preparedness, and retention. It is open to all women 18 and older. Finally,
the YWCA Housing program has both transitional and permanent housing services
for women and their children

Robinson Community Learning Center

The RCLC was started in 2001 as an off-campus educational initiative of
the President’s Office at the University of Notre Dame in partnership with
Northeast Neighborhood residents of South Bend. Programs are overseen
by a program advisory board comprised of residents, partners, ND faculty/
staff, and students. An estimated 600 participants come through the doors
of the Center each week for regular programming. The Center also partners
with the community schools in the Michiana area, with program outreach
that connects with nearly 8,000 additional youth per year. Classes are
offered in basic computing, financial literacy, entrepreneurship, advanced
skills, ESL, and more. There is a preschool for the children of ENL students.
RCLC is also the homebase of the Talk With Your Baby program, which
encourages parents to communicate and use language with their young

REAL Services
The mission of REAL Services is to assist in establishing a community in
which those we serve can maintain their independence to the maximum
degree possible and find meaning and satisfaction throughout their lives.
The operation of REAL Services is based upon a number of principles
and beliefs. Policies have been developed from these and when properly
implemented they will ensure the success and further growth of this Agency.


Melissa Paulsen William Schmuhl Jacob Stanton

Chairman Member Member

Connie Mick, Ph. D Peter Lombardo Amber Werner

Member Member Member

John Kang, 2019

Chief Execitive Officer
Major: IT Management
with a Concentation in
Finance and Financial


Selena Torres, 2019 Chris Hull, 2018 Nikhil Garg, 2018

Chief Operating Officer/ Chief Portfolio Manager Chief Financial Officer
VP of Operations Major: Finance Major: Finance and ACMS
Major: Business Analytics Minor: Italian
and Economics

Joel Zimbrick, 2018 Thomas Seitz, MSA 2018 Emily Pohl, 2020
Chief Marketing Officer VP of Accounting VP of Community Relations
Major: Finance Undergrad Major: Accoun- Major: International Economics
Minor: German and PPE tancy and Constitutional Minor: Peace Studies and
Studies International Development

Kyle Tichacek, 2019 Charlie Wolfe, 2020 Dhruv Chempakasseril,

VP of Development VP of Financial Empowerment 2020
Major: Marketing and Major: Economics and VP of Credit and Risk
Economics Business Analytics Management
Major: Finance and ACMS

Matt Mottern, 2019 Sam Cannova, 2021 Vivian Crumlish, 2019

VP of Marketing VP of Human Asset Management Senior Community Relations
Major: Economics and Major: Business and Philosophy Associate
Psychology Major: Economics
Minor: Education, Schooling,
and Society 10
Master Statement of Financials

From April 1, 2013 though March 31, 2018

Jubilee Initiative For Financial Inclusion

Statement of Financial Position
Years Ended March 31

2016 2017 2018

Cash - Checking $17,839 $16,508 $6,016
Cash - Savings 0 0 16,041
Loans Receivable 3,741 3,553 0
Other Assets 0 0 0
Total Assets $21,580 $20,061 $22,057

Short-Term Debt $- $- $-
Long-Term Debt $- $- $-
Total Liabilities $- $- $-

Total Liabilities & Net Assets $21,580 $20,061 $22,057

Master Statement of Activities

From April 1, 2013 though March 31, 2018

Jubilee Initiative For Financial Inclusion

Statement of Activities
Years Ended March 31

2016 2017 2018

Unrestricted Donations $16,135 $4,783 $6,544
Membership Dues 0 852 372
Amazon Smile 0 29 92
Savings Interest 0 0 1
JIFFI Mug Promotion 0 0 180
South Bend Cubs Tickets 0 0 301
Brian Kelly Football Raffle 0 0 342
Total Revenues $16,135 $5,664 $7,833

All-Staff Expense 0 $220 $358
Authorized Gift Expenses 0 100 0
Bad Loan Expense 0 2897 2,982
Client Envelope Expense 0 0 67
Document Filing Expenses 0 22 0
General Administrative Expens-
es $5,435 1026 146
Intern Salaries Expense 0 2194 1,813
JIFFI Mugs Expense 0 0 397
Mailing Expenses 0 7 0
Marketing Expenses 0 39 0
P.O. Box Expense 0 46 52
Rent Expense 0 420 0
Website Expense 0 212 20
Total Expenses $5,435 $7,183 $5,837

Change in Net Assets $10,700 $(1,519) $1,996

Beginning Net Assets $10,880 $21,580 $20,061
Total Liabilities & Net Assets $21,580 $20,061 $22,057

Our Board of Directors

Our Community Partners

Andy Beuster and The South Bend Cubs

Professor James Kelly

Jake Bebar

Network for Good

The Zimbrick Family

Shannon Warchol O’Brien

Will Ash

Robert Lee

Katie Welch