Languages of Money Institute Incorporated

Nonprofit profile at a glance

EIN
920765399
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Bay Shore, NY, USA
Phone
6313987452
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development - Business

Reported finances

Revenue
$284,350
Expenses
$242,681
Assets
$41,669
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JORDAN AWOYE (PRESIDENT)

People named in this filing

  • TREVOR JACKSON (DIRECTOR)
  • JORDAN AWOYE (PRESIDENT)
  • VINCELIA LEWIS (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

We believe that financial education should be accessible to everyone. Our diverse range of programs ensures that individuals from all walks of life can find the resources they need to make informed financial decisions and build a secure future.

What it reported doing in 2024

Financial Literacy and Educational Initiatives - provide interactive workshops with a deep dive into financial topics with expert-led sessions. Our organization participated in various financial empowerment events across the United States. These events focus on educating participants about their financial health. We are a core partner with The Hidden Opportunity Summit annual event as part of our specialized events offering to engage in targeted programs designed to address specific financial challenges and opportunities to local communities. Offering financial literacy to those in the workforce in need of development in gaining valuable skills and skills and knowledge to boost financial capabilities in the workplace.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 100
  • Accountability: 64
  • Sustainability: 52
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.7%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 84.6% of revenue deployed · 99.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $242K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.