INSTITUTE OF MANAGEMENT ACCOUNTANTS MEMORIAL EDUCATION FUND INC

EIN: 222673344 501(c)(3)

MONTVALE, NJ

Total Revenue
$360,959
Total Expenses
$349,297
Total Assets
$4,039,312
Net Assets
$3,578,161
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NJ
Principal Officer
MICHAEL DEPRISCO
Phone
2015739000
Tax Period
2023-07-01 to 2024-06-30

INSTITUTE OF MANAGEMENT ACCOUNTANTS MEMORIAL EDUCATION FUND INC, founded in 1985, is a small nonprofit that reported $361K in total revenue in fiscal year 2023. Revenue surged 52% from the prior year, signaling strong growth momentum. Expenses of $349K left a modest 3% surplus.

Mission

TO ACCEPT REQUESTS AND GIFTS AND MAKE GRANTS TO SUPPORT EDUCATIONAL PROGRAMS ON MANAGEMENT ACCOUNTING.

Program Service Accomplishments

Program 1
Expenses: $343,826 Revenue: $0

SCHOLARSHIPS AND GRANTS ARE AWARDED TO CANDIDATES IN MANAGEMENT ACCOUNTING AND RELATED AREAS. IN FISCAL YEAR 2024, 8 INDIVIDUALS AND VARIOUS 501(C)(3) ORGANIZATIONS RECEIVED SCHOLARSHIPS OR GRANTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $104,629
Program Service Revenue $0
Investment Income $256,330
Other Revenue $0
TOTAL REVENUE $360,959

Expense Breakdown

Grants Paid $343,826
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $343,826
Other Expenses $5,471
TOTAL EXPENSES $349,297

Year-over-Year Comparison

2023 2022 Change
Revenue $360,959 $238,064 +0.5%
Expenses $349,297 $52,429 +5.7%
Net Income $11,662 $185,635 -0.9%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
5
Employees
N/A
Volunteers
6

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$1,013,866
Total Directors
6
$562,596
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL DEPRISCO SECRETARY/TREASURER 0.50
Officer Director
$0 $18,846 $562,596
GWEN VAN BERNE CMA TRUSTEE 1.00
Director
$0 $0 $0
RICHARD T BRADY CMA CGFM TRUSTEE 1.00
Director
$0 $0 $0
DEREK ALAN FUZZELL CMACSCACPA TRUSTEE 0.50
Director
$0 $0 $0
DR RINKU BHATTACHARYACMA CPA TRUSTEE 0.50
Director
$0 $0 $0
SUNIL S DESHMUKH CMA CBM TRUSTEE 1.00
Director
$0 $0 $0
RUSS PORTER CMA CFM CSCA CFO (THRU 08/23) 0.50
Officer
$0 $17,053 $307,301
CHRISTINE MILLAWAY CPA CFO (BEG 11/23 - SEE SCH O) 0.50
Officer
$0 $0 $143,969
JEFFREY THOMSON CMA CSCA CAE FORMER SECRETARY/TREASURER 0.50
$0 $49,252 $615,375
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $360,959 $349,297 $4,039,312 $11,662
2023 $238,064 $52,429 $3,544,670 $185,635
2022 $192,362 $166,884 $3,199,456 $25,478
2021 $365,924 $274,475 $3,657,483 $91,449
2020 $187,691 $46,190 $3,184,053 $141,501
2019 $225,169 $164,109 $2,986,476 $61,060
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