Money Management International Inc
- Assets
- $55.4m
- Revenue
- $38.6m
- Investments
- $0.0
- Employees
- 445
- Location
- Phoenix, AZ
- Founding
- 05/2003
- Data as of
- 12/2020
- EIN
- 54-1837741
Organization Overview
Money Management International Inc is located in Phoenix, AZ. The organization was established in 2003. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Money Management International Inc employed 445 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Money Management International Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Money Management International Inc generated $38.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $44.6m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
WE STRIVE TO BENEFIT THE COMMUNITY BY PROVIDING EXCEPTIONAL FINANCIAL EDUCATION AND COUNSELING PROGRAMS INCLUDING CREDIT, HOUSING, AND BANKRUPTCY COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT COUNSELING AND DEBT MANAGEMENT - SEE SCHEDULE O.
HOUSING COUNSELING AND EDUCATION - SEE SCHEDULE O.
BANKRUPTCY COUNSELING AND EDUCATION: MMI HAS BEEN APPROVED SINCE 2005 TO PROVIDE PRE-FILING BANKRUPTCY COUNSELING AND ISSUE COUNSELING CERTIFICATES IN COMPLIANCE WITH THE BANKRUPTCY CODE. MMI IS ALSO APPROVED TO DELIVER PRE-DISCHARGE BANKRUPTCY EDUCATION SERVICES ALONG WITH THE CERTIFICATE OF PARTICIPATION THAT ALLOWS THE CONSUMER TO PROCEED WITH THE BANKRUPTCY DISCHARGE PROCESS. MMI PROVIDED 1451 SESSIONS FOR CONSUMERS PRIOR TO THEIR FILING FOR BANKRUPTCY AND 842 DEBTORS PARTICIPATED IN PRE-DISCHARGE EDUCATION PROGRAMS.
OTHER PROGRAMS - IN ADDITION TO ONE-ON-ONE COUNSELING, MMI PROVIDES FINANCIAL CAPABILITY EDUCATION ON A BROAD RANGE OF TOPICS. IN 2021, MMI REACHED 42,373 CONSUMERS THROUGH EDUCATIONAL PROGRAMS. OUR EDUCATIONAL WORKSHOPS ARE GENERALLY FREE TO CONSUMERS AND COVER A RANGE OF TOPICS TO HELP CONSUMERS BETTER MANAGE THEIR FINANCES AND AVOID FINANCIAL PROBLEMS. WORKSHOP TOPICS INCLUDE TRACKING EXPENSES, BUDGETING, CASH FLOW MANAGEMENT, WISE USE OF CREDIT, PREPARING FOR THE HOME-BUYING PROCESS, FORECLOSURE, BANKRUPTCY, AND WAYS TO AVOID ACCUMULATING EXCESSIVE DEBT. MMI CONDUCTS EDUCATION CLASSES IN ENGLISH AND SPANISH.MMI PROVIDED FINANCIAL CAPABILITY OUTREACH AND EDUCATION TO 14,109 CONSUMERS THROUGH 561 LIVE EVENTS IN 2021. ADDITIONALLY, 2,104 CONSUMERS REGISTERED FOR ONLINE, SELF-PACED FINANCIAL LITERACY EDUCATION IN THE MMI UNIVERSITY PLATFORM IN 2021. ADDITIONALLY, THE MMI EDUCATION TEAM DEPLOYED 19 FINANCIAL LITERACY RELATED VIDEOS FOR THE MMI YOUTUBE CHANNEL WITH 6,330 CONSUMERS EDUCATED.MMI CREATED THE MMI PEER ADVOCATE PROGRAM, WHICH IS MADE UP OF FORMER MMI CLIENTS WHO OVERCAME DEBT CHALLENGES AND HAVE AGREED TO PUBLICLY SHARE THEIR STORIES THROUGH MEDIA INTERVIEWS AND SOCIAL ENGAGEMENT. PEER ADVOCATES ACT AS OUR BRAND AMBASSADORS AND CREATE CONVERSATIONS TO HELP OTHERS OVERCOME STIGMA RELATED TO DEBT AND FINANCIAL INSECURITY. THROUGH THIS PROGRAM, MMI SEEKS TO REACH INDIVIDUALS AND FAMILIES, IN COMMUNITIES ACROSS THE NATION, WITH A FOCUS ON THOSE STRUGGLING WITH BUDGETING, SAVINGS, CREDIT, DEBT, HOUSING AND THE ECONOMIC IMPACT OF THE PANDEMIC AND OTHER NATURAL DISASTERS. MMI CURRENTLY BOASTS 128 PEER ADVOCATES ACROSS 38 STATES, INCLUDING REPRESENTATION IN 20 OF THE TOP 25 U.S. MEDIA MARKETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ivan Hand Special Advisor | 40 | $812,459 | |
Jim Triggs President & CEO | OfficerTrustee | 40 | $409,957 |
Anthony Scataglia Chief Operating Officer | Officer | 40 | $320,392 |
Lyle Lansdell Chief Financial Officer/treasurer | Officer | 40 | $314,021 |
Michelle Jones Chief External Affairs Officer | Officer | 40 | $307,191 |
Zynda Sellers Chief Compliance Officer/secretary | Officer | 40 | $255,820 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fred Rhodes & Co Consulting | 12/30/17 | $153,349 |
Remote Dba Experts Consulting | 12/30/17 | $207,415 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,168,887 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,445,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,614,795 |
| Total Program Service Revenue | $33,444,083 |
| Investment income | $310,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $245,946 |
| Net Gain/Loss on Asset Sales | -$35,196 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,595,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,201,348 |
| Compensation of current officers, directors, key employees. | $1,024,431 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,588,282 |
| Pension plan accruals and contributions | $338,004 |
| Other employee benefits | $2,832,610 |
| Payroll taxes | $1,570,449 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $809,295 |
| Fees for services: Accounting | $91,692 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,732 |
| Fees for services: Other | $1,112,879 |
| Advertising and promotion | $2,304,641 |
| Office expenses | $1,074,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,646,933 |
| Travel | $150,529 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $201,864 |
| Interest | $38,936 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,447,971 |
| Insurance | $360,952 |
| All other expenses | $582,115 |
| Total functional expenses | $44,638,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,090,886 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,102,137 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,034,477 |
| Net Land, buildings, and equipment | $7,597,263 |
| Investments—publicly traded securities | $28,940,020 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,598,940 |
| Total assets | $55,363,723 |
| Accounts payable and accrued expenses | $5,259,084 |
| Grants payable | $0 |
| Deferred revenue | $667,210 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,342,928 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $4,776,308 |
| Other liabilities | $0 |
| Total liabilities | $22,045,530 |
| Net assets without donor restrictions | $33,214,191 |
| Net assets with donor restrictions | $104,002 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,363,723 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Money Management International Inc has recieved totaling $1,515,763.
| Awarding Organization | Amount |
|---|---|
Consumer Credit Counseling Service Of San Francisco Concord, CA PURPOSE: HOUSING COUNSELING & EDUCATION | $930,000 |
National Foundation For Credit Counseling Inc Washington, DC PURPOSE: FINANCIAL EDUCATION SUPPORT | $380,517 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $125,000 |
United Way Worldwide Alexandria, VA PURPOSE: HEALTH, HUMAN & SOCIAL SERVICES | $60,000 |
Wynn Resorts Limited Employee Foundation Las Vegas, NV PURPOSE: Charitable Grant | $17,746 |
Zions Bancorporation Foundation Salt Lake City, UT PURPOSE: PROVIDE 1 ON 1 FINANCIAL COUNSELING TO LMI HOUSEHOLDS | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Money Management International Inc Phoenix, AZ | $55,363,723 | $38,595,180 |
Consumer Credit Counseling Service Of San Francisco Concord, CA | $9,996,299 | $17,336,495 |
Springboard Non-Profit Consumer Credit Management Inc Riverside, CA | $8,795,796 | $5,993,379 |
Take Charge America Inc Phoenix, AZ | $22,881,953 | $7,255,476 |
Usa Homeownership Foundation Inc Corona, CA | $3,434,411 | $5,441,843 |
Debtwave Credit Counseling Inc Escondido, CA | $1,629,187 | $5,189,974 |
Access Counseling Inc Los Angeles, CA | $878,879 | $2,910,345 |
Earn To Learn Tucson, AZ | $1,535,362 | $2,450,878 |
Christian Credit Counselors Inc Carlsbad, CA | $6,458,952 | $2,790,959 |
Abacus Credit Counseling Encino, CA | $7,151,653 | $2,039,579 |
American Credit Foundation Inc Draper, UT | $673,807 | $2,274,444 |
National Budget Planners Of South Florida Inc Livermore, CA | $1,611,064 | $2,018,775 |