Fitmoney Inc

Nonprofit profile at a glance

EIN
811238297
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2016
Location
Newton, MA, USA
Phone
6175641005
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$932,506
Expenses
$706,931
Assets
$412,830
Liabilities
$36,395

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • RANDY HOUK (FORMER EXECUTIVE DIRECTOR)
  • KATHLEEN CHOI (President)

Highest reported compensation

  • RANDY HOUK (FORMER EXECUTIVE DIRECTOR): $134,550 total reported compensation
  • STEPHANIE MADDEN (DEPUTY DIRECTOR): $74,063 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fitmoney's mission is to expand access to high-quality, unbiased financial literacy education for k-12 students. The organization provides free classroom-ready curriculum, digital learning resources and interactive tools that help students build essential financial knowledge and skills. Fitmoney's resources are provided to educators and schools and can also be accessed directly by students and families.

What it reported doing in 2024

Program name: financial literacy education programsfitmoney provides free financial literacy education to k-12 students through school-based and digital programs. Its curriculum is designed to be unbiased, age-appropriate and accessible at no cost to students. Programs include classroom-ready lessons, educator resources and interactive digital tools that support student engagement and learning. Fitmoney partners with school, districts and education organizations to integrate financial literacy into existing instructional settings and to reduce barriers to access for students and families.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 70
  • Accountability: 80
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.7%; rating input score 48
  • Program expense ratio: 62.2%; rating input score 62
  • Fundraising efficiency: $4.92 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 81.8%; rating input score 82; 18th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.2%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 29.5%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 22.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 28.7% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 47.7% of revenue deployed · 62.2% of spending went to programs
  • Governance: 9 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $439K in reported program spending
  • Leadership: top reported pay $135K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.