Institute of Management Accountants Memorial Education Fund Inc

Nonprofit profile at a glance

EIN
222673344
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Montvale, NJ, USA
Phone
2015739000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$267,624
Expenses
$520,056
Assets
$4,284,326
Liabilities
$652,746

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

Leadership & pay

7 people listed

Highest reported compensation

  • MICHAEL DEPRISCO (SECRETARY/TREASURER): $820,692 total reported compensation
  • CHRISTINE MILLAWAY CPA (CFO): $403,441 total reported compensation

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

Overview

Mission

To accept requests and gifts and make grants to support educational programs on management accounting.

What it reported doing in 2024

Scholarships and grants are awarded to candidates in management accounting and related areas. In fiscal year 2025, 3 individuals and various 501(c)(3) organizations received scholarships or grants.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 64
  • Accountability: 85
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.4%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 82.5%; rating input score 83; 49th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -94.3%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 8.24; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 8.4% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.4% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $512K in reported program spending
  • Leadership: top reported pay $821K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 10 filed related-organization links
  • 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.