Fitmoney Inc

Analysis

Fitmoney Inc is a registered charity in United States, based in Newton, MA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. 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, Fitmoney Inc reported income of $1.1m and spending of $1.1m, spending 97% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $472k to $1.1m (+139%), an average of +55% a year. The sharpest change came in the year to June 2022, when income rose by 118%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fitmoney Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Boy Scouts of America ($1.1m), Abc Nevada Chapter Southern Division Apprenticeship Trust Fund ($1.1m) and The Pacific Pride Foundation Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $163k (15% of expenses). Other salaries and wages came to $64k. It paid $120k in professional fundraising fees. At year end it held assets of $118k against liabilities of $23k, net assets of $95k. It reported 2 employees.