2021-06-14T13:48:13-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 20 EAST THOMAS ROAD SUITE 2300 PHOENIX AZ 85012 990 2020-01-01 541837741 MONEY MANAGEMENT INTERNATIONAL INC MONE 6022464520 2401 W PEORIA NO 120 PHOENIX AZ 85029 JIM TRIGGS PRESIDENT 6022464520 2021-06-09 1 JIM TRIGGS 999009999 MELISSA HANGSLEBEN P02087031 6022662248 2021-06-09 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X JIM TRIGGS 2401 W PEORIA NO 120 PHOENIX AZ 85029 42530376 0 X WWW.MONEYMANAGEMENT.ORG X 2002 TX WE STRIVE TO BENEFIT THE COMMUNITY BY PROVIDING EXCEPTIONAL FINANCIAL EDUCATION AND COUNSELING PROGRAMS INCLUDING CREDIT, HOUSING, AND BANKRUPTCY COUNSELING. 7 6 441 6 47703 0 6291081 4614795 30540343 33444083 1261329 275675 3388752 260627 41481505 38595180 0 0 0 0 29553599 28530693 0 0 296809 14947725 16107622 44501324 44638315 -3019819 -6043135 51261282 55363723 17171407 22045530 34089875 33318193 X TO IMPROVE LIVES THROUGH FINANCIAL EDUCATION. 0 0 25348745 23901242 CREDIT COUNSELING AND DEBT MANAGEMENT - SEE SCHEDULE O. 9878812 7002734 HOUSING COUNSELING AND EDUCATION - SEE SCHEDULE O. 513409 1277392 BANKRUPTCY COUNSELING AND EDUCATION: MMI HAS BEEN APPROVED SINCE 2005 TO PROVIDE PRE-FILING BANKRUPTCY COUNSELING AND ISSUE COUNSELING CERTIFICATES IN COMPLIANCE WITH THE BANKRUPTCY CODE. MMI IS ALSO APPROVED TO DELIVER PRE-DISCHARGE BANKRUPTCY EDUCATION SERVICES ALONG WITH THE CERTIFICATE OF PARTICIPATION THAT ALLOWS THE CONSUMER TO PROCEED WITH THE BANKRUPTCY DISCHARGE PROCESS. MMI PROVIDED MORE THAN 2,000 SESSIONS FOR CONSUMERS PRIOR TO THEIR FILING FOR BANKRUPTCY AND OVER 1,300 DEBTORS PARTICIPATED IN PRE-DISCHARGE EDUCATION PROGRAMS. 1045961 1215012 OTHER PROGRAMS INCLUDE AGENCY SUPPORT SERVICES, REPRESENTATIVE PAYEE PROGRAM AND STUDENT SERVICES. 1045961 1215012 36786927 1 1 0 1 0 0 0 0 1 0 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 10 0 441 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 7 6 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT FL HI IL KS KY ME MD MA MI MN MS NJ NM NY ND OR PA TN WA WV WI X JIM TRIGGS 6022464520 2401 W PEORIA 120 PHOENIX AZ 85029 IVAN HAND SPECIAL ADVISOR 40.00 X 1012698 0 35760 ANTHONY SCATAGLIA CHIEF OPERATING OFFICER 40.00 1.00 X 376753 0 35760 JIM TRIGGS PRESIDENT & CEO 40.00 2.00 X X 367847 0 16482 LYLE LANSDELL CHIEF FINANCIAL OFFICER/TREASURER 40.00 2.00 X 353379 0 19156 MICHELLE JONES CHIEF EXTERNAL AFFAIRS OFFICER 40.00 X 320538 0 31914 ZYNDA SELLERS CHIEF COMPLIANCE OFFICER/SECRETARY 40.00 2.00 X 217377 0 21983 JOHN FISHER SVP, INDUSTRY RELATIONS 40.00 X 180899 0 17447 DANIEL LEVINE CHIEF TECHNOLOGY OFFICER 40.00 X 170562 0 22793 CHRISTOPHER RAY VICE PRESIDENT MARKETING 40.00 X 121148 0 22474 ROBERT LUKA SOFTWARE DEVELOPER 4 40.00 X 116782 0 21163 CHRISTOPHER FONTENOT SR. DIRECTOR INFORMATION TECHNOLOGY 40.00 X 127107 0 10385 MATTHEW MUELLER MANAGER, INFORMATION TECHNOLOGY 40.00 X 118930 0 10058 KAREN ANCILLAI CHAIRMAN 3.00 1.00 X X 0 0 0 DOUGLAS DURNIN DIRECTOR 3.00 X 0 0 0 ELIZABETH HOTZE DIRECTOR 3.00 X 0 0 0 WILLIAM A PUPO DIRECTOR 3.00 X 0 0 0 GREG MCBRIDE DIRECTOR 3.00 X 0 0 0 MANUEL MARIO PERDOMO DIRECTOR 3.00 X 0 0 0 3484020 0 265375 12 0 1 0 NORTON ROSE FULBRIGHT US LLP DEPT 2613 PO BOX 122613 DALLAS TX 75312 LEGAL SERVICES 692183 1 1168887 3445908 4614795 BUDGET AND DEBT COUNSELING 541990 23901242 23901242 HOUSING COUNSELING 541990 7002734 7002734 BANKRUPTCY COUNSELING 541990 1277392 1277392 AGENCY SUPPORT SERVICES 541990 1258989 1211286 47703 0 STUDENT SERVICES 541990 3726 3726 33444083 310871 310871 245946 0 245946 245946 245946 3900000 3932108 3088 -32108 -3088 -35196 -35196 MISCELLANEOUS 900099 14681 14681 14681 38595180 33396380 47703 536302 3201348 2144903 1024431 32014 20588282 18695647 1713051 179584 338004 315457 20905 1642 2832610 2577386 240167 15057 1570449 1400892 158079 11478 809295 368449 440520 326 91692 41745 49910 37 123732 123732 1112879 506662 605769 448 2304641 1684323 587784 32534 1074599 844614 228116 1869 3646933 3162308 478571 6054 150529 113256 34420 2853 201864 151880 46159 3825 38936 1861 37075 2447971 1883328 562801 1842 360952 360952 EQUIPMENT RENTAL & MAIN 2023422 1647305 376117 DIRECT COST OF REVENUE 479517 479517 LICENSES & TAXES 376758 35491 341267 BANK CHARGES 281787 275075 6712 582115 456828 118041 7246 44638315 36786927 7554579 296809 1665251 3090886 3782543 3102137 89036 1067825 1034477 27823841 20226578 8688153 7597263 23929394 28940020 250314 236082 11552684 11598940 51261282 55363723 832106 5259084 1063579 667210 11242155 11342928 4776308 4033567 0 17171407 22045530 X 33248252 33214191 841623 104002 34089875 33318193 51261282 55363723 X -6043135 6139222 -867769 X X 0 1 X 1 1 1 X 12061024 7233750 6734990 6291081 4614795 36935640 26668775 36710368 40388323 32785714 33411061 169964241 38729799 43944118 47123313 39076795 38025856 206899881 10186735 28217357 7071218 3346297 2889035 51710642 0 10186735 28217357 7071218 3346297 2889035 51710642 155189239 856196 3222890 678132 525024 556817 5839059 491695 1347442 658714 906440 47703 3451994 1347891 4570332 1336846 1431464 604520 9291053 40077690 48514450 48460159 40508259 38630376 216190934 0.71780 0.65940 0.04300 0.04510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 44638315 44638315 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 7000 7000 250000 250000 250000 250000 1000000 1500000 0 1 X 213800 213800 1000307 390372 609935 1432882 1334123 98759 4857871 1960667 2897204 20318981 16541416 3777565 7597263 CASH HELD FOR CUSTOMERS 11342928 DEPOSITS AND OTHER ASSETS 256012 11598940 X PART IV, LINE 2B: MMI COLLECTS PAYMENTS FROM CLIENTS WHO ARE ON DEBT MANAGEMENT PLANS, PLACES THOSES PAYMENTS INTO A SEPARATE TRUST ACCOUNT, AND THEN DISBURSES THOSE FUNDS TO THE CREDITORS OF THE CLIENTS. PART X, LINE 2: AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), THE COMPANY IS EXEMPT FROM FEDERAL INCOME TAXES ON ITS RELATED INCOME PURSUANT TO IRC SECTION 501(A). IT IS ALSO EXEMPT FROM VARIOUS STATE INCOME TAXES UNDER SIMILAR STATE STATUTES. MMI HOUSING AND SEMINOLE RIDGE ARE DISREGARDED ENTITIES FOR FEDERAL TAX PURPOSES. THE COMPANY HAD NO TAXABLE UNRELATED BUSINESS INCOME IN 2020. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. MANAGEMENT HAS EVALUATED THE COMPANY'S TAX POSITIONS AND CONCLUDED THAT THE COMPANY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE COMPANY IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2016. THE COMPANY RECORDS TAX-RELATED INTEREST AND PENALTIES IN EXPENSES IN THE CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THERE WERE NO TAX-RELATED INTEREST OR PENALTIES IN 2020. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 IVAN HAND SPECIAL ADVISOR 175186 0 790625 0 46887 0 8550 0 27210 0 1048458 0 760250 0 ANTHONY SCATAGLIA CHIEF OPERATING OFFICER 240774 0 100000 0 35979 0 8550 0 27210 0 412513 0 0 0 JIM TRIGGS PRESIDENT & CEO 278844 0 65000 0 24003 0 0 0 16482 0 384329 0 0 0 LYLE LANSDELL CHIEF FINANCIAL OFFICER/TREASURER 258709 0 75000 0 19670 0 8550 0 10606 0 372535 0 0 0 MICHELLE JONES CHIEF EXTERNAL AFFAIRS OFFICER 223494 0 75000 0 22044 0 8550 0 23364 0 352452 0 0 0 ZYNDA SELLERS CHIEF COMPLIANCE OFFICER/SECRETARY 171387 0 30000 0 15990 0 6520 0 15463 0 239360 0 0 0 JOHN FISHER SVP, INDUSTRY RELATIONS 166579 0 10000 0 4320 0 5987 0 11460 0 198346 0 0 0 DANIEL LEVINE CHIEF TECHNOLOGY OFFICER 150562 0 20000 0 0 0 5750 0 17043 0 193355 0 0 0 PART I, LINE 1A MMI PAID COUNTRY CLUB DUES FOR JIM TRIGGS, THE PRESIDENT & CEO. PART I, LINE 7 MR. HAND'S COMPENSATION REFLECTS A PAYMENT OF $760,250 THAT WAS MADE IN 2020 THAT WAS PART OF A "TRANSITION AGREEMENT" THAT WAS PUT IN PLACE IN 2019 TO ENSURE A TRANSITION FOR THE NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER. ANTHONY SCATAGLIA, LYLE LANSDELL AND MICHELLE JONES (SENIOR EXECUTIVES) RECEIVED RETENTION BONUSES AS PART OF THE TRANSITION FOR THE NEW PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE FOLLOWING WERE THE AMOUNTS PAID IN 2020: ANTHONY SCATAGLIA, CHIEF OPERATING OFFICER - $100,000 LYLE LANSDELL, CHIEF FINANCIAL OFFICER - $75,000 MICHELLE JONES, CHIEF DEVELOPMENT OFFICER - $75,000 FORM 990, PART III, LINE 4A: CREDIT COUNSELING AND DEBT MANAGEMENT: MONEY MANAGEMENT INTERNATIONAL (MMI) PROVIDES PERSONAL FINANCIAL COUNSELING AND EDUCATION FOR THOSE NEEDING ASSISTANCE WITH BUDGETING AND MONEY MANAGEMENT. CONSUMERS RECEIVE FINANCIAL GUIDANCE FROM A CERTIFIED CREDIT COUNSELOR. DURING A SESSION, THE COUNSELOR WILL HELP THE CONSUMER ASSESS THEIR FINANCIAL SITUATION, DEVELOP A SPENDING PLAN, SET FINANCIAL GOALS AND CREATE AN ACTION PLAN. SOME CONSUMERS MAY BE ENROLLED IN A DEBT MANAGEMENT PLAN (DMP) FOR SYSTEMATIC REPAYMENT OF CERTAIN DEBTS. TEAMS OF CERTIFIED SUPPORT COUNSELORS PROVIDE ADMINISTRATION AND SUPPORT FOR MMI'S DMP CLIENTS BY PROVIDING ON-GOING FINANCIAL COUNSELING AND EDUCATION FROM THE START THROUGH COMPLETION. CORPORATE POLICY REQUIRES ALL SUPPORT COUNSELORS RECEIVE IN-DEPTH TRAINING AND ARE REQUIRED TO BE INDEPENDENTLY CERTIFIED PRIOR TO COUNSELING A CONSUMER. MMI'S CERTIFIED TRAINING STAFF PROVIDES EDUCATIONAL CLASSES IN PERSON, VIA WEBINAR, AND THROUGH SELF-PACED ONLINE MODULES THAT COVER A WIDE VARIETY OF CONSUMER FINANCE TOPICS. OF CONSUMERS WHO ENDED THEIR DEBT MANAGEMENT PLANS, OVER 67% FULLY REPAID THEIR DEBTS THROUGH MMI AND ANOTHER 12% RECOVERED TO THE EXTENT THAT THEY WERE ABLE TO RESUME DIRECT PAYMENTS ON THEIR DEBT TO CREDITORS. MMI PROVIDED OVER 45,000 DEBT AND BUDGET COUNSELING SESSIONS. FORM 990, PART III, LINE 4B HOUSING COUNSELING AND EDUCATION: MMI PROVIDES A WIDE VARIETY OF HOUSING COUNSELING SERVICES AIMED AT SAVING HOMES AND BUILDING COMMUNITIES. FORECLOSURE PREVENTION COUNSELING ASSISTS THOSE THAT HAVE FALLEN BEHIND ON THEIR MORTGAGE PAYMENTS TO KEEP THEIR HOME AND AVOID THE COST AND CREDIT RATING DAMAGE ASSOCIATED WITH FORECLOSURE. RENTAL COUNSELING PROVIDES GUIDANCE AND SOLUTIONS TO THOSE WHO ARE AT RISK OF EVICTION. THROUGH ITS DISASTER RECOVERY PROGRAM, PROJECT PORCHLIGHT, MMI PROVIDED IMMEDIATE AND LONG-TERM SUPPORT TO CONSUMERS IMPACTED BY NATURAL DISASTER, AS WELL AS THOSE EXPERIENCING ECONOMIC DISRUPTION CAUSED BY THE PANDEMIC. POST-MODIFICATION COUNSELING IS A LONG-TERM FINANCIAL COACHING PROGRAM DESIGNED TO SUPPORT LONG-TERM REPAYMENT SUCCESS FOR CONSUMERS WHO HAVE PREVIOUSLY FALLEN DELINQUENT ON THEIR MORTGAGE. REVERSE MORTGAGE COUNSELING EDUCATES SENIORS ON THE BENEFITS, CONSEQUENCES, OPTIONS AND PROCESS OF OBTAINING A HOME EQUITY CONVERSION MORTGAGE, WHILE REVERSE MORTGAGE DEFAULT SUPPORTS SENIORS WHO ARE AT RISK OF DEFAULT DUE TO LAPSED PROPERTY TAX OR INSURANCE PAYMENTS. MMI ASSISTS POTENTIAL HOME BUYERS BY EDUCATING THEM ON THE COSTS AND RESPONSIBILITIES OF HOME OWNERSHIP. FUNDING IS PROVIDED BY THE U.S. DEPARTMENT OF HOUSING, URBAN DEVELOPMENT (HUD) AND THROUGH CONTRACTUAL ARRANGEMENTS WITH MORTGAGE SERVICERS AND GSE'S. MMI PROVIDED OVER 50,000 HOUSING SPECIFIC SESSIONS. FORM 990, PART VI, SECTION A, LINE 1 BY THE AFFIRMATIVE VOTE OF AT LEAST SEVENTY-FIVE (75%) OF THE DIRECTORS, THE BOARD OF DIRECTORS MAY CREATE AN EXECUTIVE COMMITTEE, WHICH SHALL HAVE AND EXERCISE ALL THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE CORPORATION, AND MAY APPOINT TWO OR MORE PERSONS, A MAJORITY OF WHOM ARE MEMBERS OF THE BOARD OF DIRECTORS, TO SERVE ON IT. BY MAJORITY VOTE, THE BOARD OF DIRECTORS MAY CREATE ONE OR MORE OTHER COMMITTEES AND APPOINT MEMBERS OF THE BOARD OF DIRECTORS TO SERVE ON THEM. ANY SUCH COMMITTEE SHALL MAY EXERCISE ALL CORPORATE AUTHORITY DELEGATED TO IT BY THE BOARD OF DIRECTORS EXCEPT AS LIMITED BY APPLICABLE LAW. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT AND THE AUDIT COMMITTEE AND ANY CHANGES INCORPORATED INTO THE FILING. ONCE THIS DETAILED REVIEW IS COMPLETE, THE DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EXECUTIVES (DIRECTORS, OFFICERS, AND KEY EMPLOYEES) OF MMI ARE BOUND BY A CONFLICT OF INTEREST POLICY AND MUST COMPLETE A QUESTIONNAIRE ON AN ANNUAL BASIS DETAILING ANY OTHER INTERESTS. THE EXECUTIVE MUST UPDATE THE DISCLOSURE FORM SHOULD ANY MATERIAL CHANGES ARISE DURING THE COURSE OF THE YEAR. THESE FORMS ARE MAINTAINED WITH OTHER CORPORATE DOCUMENTS BY THE SECRETARY OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 15 MMI HAS DEVELOPED AND IMPLEMENTED A COMPENSATION POLICY ADHERING TO THE STANDARDS PROVIDED IN TREASURY REGULATIONS SECTION 53.4858-6. THE POLICY REQUIRES A COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS TO REVIEW AND APPROVE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES; THAT THE COMMITTEE OBTAIN AND RELY UPON COMPARABILITY DATA AND VALUATION STUDIES PREPARED BY INDEPENDENT EXECUTIVE COMPENSATION EXPERTS; THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS ITS DELIBERATIONS AND DECISIONS IN WRITING; AND MUST HAVE ALL COMPENSATION DECISIONS APPROVED BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 MMI COMPLIES WITH THE PUBLIC INSPECTION REQUIREMENTS OF THE IRC 6104 BY MAKING AVAILABLE TO THE PUBLIC ITS FORM 1023, APPLICATION OF RECOGNITION OF EXEMPTION UNDER 501(C)3 OF THE IRC, DETERMINATION LETTER FROM THE IRS AND FORMS 990 AND 990-T FOR ITS THREE MOST RECENTLY COMPLETED TAX PERIODS. IN ADDITION TO THIS INFORMATION, EVEN THOUGH NOT REQUIRED OF SECTION 501(C)3 ORGANIZATIONS UNDER THE IRC 6104, MMI HAS CHOSEN TO DISCLOSE THEIR GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICIES AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PART XI, LINE 9: MAPPING YOUR FUTURE WRITE OFF -671,166. GOODWILL WRITE OFF -196,603. PART XI, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE YEAR. MMI HOUSING LLC 2401 W PEORIA 120 PHOENIX AZ 85029 460985114 REAL ESTATE DE 0 0 MONEY MANAGEMENT INTERNATIONAL INC MMI SEMINOLE RIDGE INVESTMENT LLC 2401 W PEORIA 120 PHOENIX AZ 85029 460984731 REAL ESTATE DE 8223 -2741 MONEY MANAGEMENT INTERNATIONAL INC CCCS OF SOUTHERN NEW ENGLAND INC 2401 W PEORIA 120 PHOENIX AZ 85029 237230816 CREDIT COUNSELING MA 501(C)(3) LINE 10 MONEY MANAGEMENT INTERNATIONAL INC 1 MMI FINANCIAL EDUCATION FOUNDATION 2401 W PEORIA 120 PHOENIX AZ 85029 760691702 FINANCIAL EDUCATION TX 501(C)(3) LINE 12A, I MONEY MANAGEMENT INTERNATIONAL INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0