Making Change Inc
- Assets
- $102.2k
- Revenue
- $410.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Columbia, MD
- Founding
- 06/1992
- Data as of
- 06/2024
- EIN
- 52-1755086
Organization Overview
Making Change Inc, operating under the name Makingchange, is located in Columbia, MD. The organization was established in 1992. 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 06/2024, Makingchange employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Makingchange 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 06/2024, Makingchange generated $410.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $402.5k during the year ending 06/2024. While expenses have increased by 12.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MAKING CHANGE, INC. PROVIDES FREE ONE-ON-ONE FINANCIAL COUNSELING TO INDIVIDUALS, AS WELL AS CUSTOMIZED FINANCIAL EDUCATION IN GROUP SETTINGS THROUGH ITS PARTNERSHIPS WITH LOCAL EMPLOYERS, COMMUNITY ORGANIZATIONS AND GOVERNMENTAL AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL COUNSELING: OUR MISSION IS ACHIEVED BY PROVIDING FINANCIAL SEMINARS, PERSONAL FINANCIAL COACHING, AND FREE TAX PREPARATION SERVICES, AS WELL AS, OUTREACH EFFORTS. ALTHOUGH OUR PROGRAMS ADDRESS ISSUES OF CONCERN TO PEOPLE OF ALL AGES AND INCOME LEVELS, WE FOCUS PRIMARILY ON LOW INCOME POPULATIONS. OUR INTENT IS TO HELP INDIVIDUALS WORK TOWARDS SELF-SUFFICENCY. WE CONTINUE TO PARTNER WITH COMMUNITY ORGANIZATIONS TO INCREASE THE NUMBER OF PEOPLE WHO BENEFIT FROM OUR PROGRAMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah A Colson Chair | OfficerTrustee | 5 | $127,500 |
Ashley Lazarewicz Treasurer | OfficerTrustee | 5 | $0 |
Valerie James Secretary | OfficerTrustee | 5 | $0 |
Katie Dean Director | Trustee | 5 | $0 |
Jason Whong Director | Trustee | 5 | $0 |
Catherine B Harrington Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $297,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,955 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $408,413 |
| Total Program Service Revenue | $1,200 |
| Investment income | $369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $409,982 |
| 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. | $129,583 |
| Compensation of current officers, directors, key employees. | $58,312 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,187 |
| Payroll taxes | $23,449 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,444 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,559 |
| Advertising and promotion | $2,722 |
| Office expenses | $13,510 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,879 |
| Travel | $859 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,041 |
| All other expenses | $106 |
| Total functional expenses | $402,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,611 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $45,757 |
| Accounts receivable, net | $0 |
| 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 | $3,961 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,834 |
| Total assets | $102,163 |
| Accounts payable and accrued expenses | $697 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,873 |
| Total liabilities | $30,570 |
| Net assets without donor restrictions | $71,593 |
| Net assets with donor restrictions | $0 |
| 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 | $102,163 |