The Institute of Consumer Money Management

Analysis

The Institute of Consumer Money Management is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Institute of Consumer Money Management reported income of $415k and spending of $971k, spending 234% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $334k to $415k (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2021, when income rose by 146%. Over the whole period it spent 293% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Institute of Consumer Money Management sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Churchland Rural Fire Department Incorporated ($415k), Disabled American Veterans California Rehabilitation Foundati ($415k) and Eternal Foundation USA Inc ($415k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% of the total. At year end it held assets of $4.4m against liabilities of $24k, net assets of $4.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.