Young Money Finances

Analysis

Young Money Finances is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Young Money Finances reported income of $244k and spending of $230k, spending 94% of its income. Across the 3 years on record, from February 2022 to December 2023, income grew from $118k to $244k (+108%), an average of +44% a year. The sharpest change came in the year to December 2022, when income rose by 147%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Young Money Finances sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Minnesota Brass Incorporated ($244k), Iowa City Unesco City of Literature ($244k) and Friends of the Library of Los Altos and Community Inc ($244k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $17k (7.4% of expenses). At year end it held assets of $161k against liabilities of $0, net assets of $161k.