The Institute of Consumer Money
The Institute of Consumer Money, also known as the Institute of Consumer Money Management (ICMM), is a Raleigh, North Carolina public charity that funds research and studies intended to promote financial security and wellbeing for low- to moderate-income (LMI) consumers. Its website describes a focus on connecting research with practical solutions and evaluating programs rigorously.
Key facts about The Institute of Consumer Money
In short: The Institute of Consumer Money reported $799K in grants paid in 2025 (a total; its filing lists no individual grants). Source: 2025 IRS Form 990.
- EIN
- 47-1524248
- Latest 990 filing
- Form 990, 2025
- Grants paid (2025)
- $799,232 — reported as a total on the IRS filing, without an itemized list
- Total assets
- $5,433,271
- How to apply
- The website describes funding tiers and has posted project-specific requests for proposals. Full details ↓
- Deadline
- The HBCU student investment evaluation RFP deadline was February 25, 2026; this cycle is past.
Data from IRS Form 990, 2025; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$5.4M
+24.0% YoY
Grants Paid (reported total)
$799K
+21.3% YoY
Revenue
$1.9M
+331.9% YoY
Net Investment Income
$251K
+39.6% YoY
How The Institute of Consumer Money gives
- Giving fell 62% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Mission & Focus Areas
The organization’s mission, as stated in its 2024 filing, is to create a sustainable financial future for consumers by funding research and studies that promote positive spending behaviors and consumer asset building, and by promoting financial literacy in its community and across the United States. Its website describes a mission of supporting research that promotes financial security for LMI consumers.
The website’s stated priorities include emergency savings, housing stability, retirement security, financial education, and financial inclusion. Its 2026 funding model calls for support for both applied research and foundational research, with projects expected to benefit LMI communities and connect research to practical use.
Grantmaking
IRS filing data reports three grants totaling $658,700 in 2024 and six grants totaling $802,500 in 2023. The average grant was approximately $219,567 in 2024 and $133,750 in 2023. The 2025 filing reports no grants.
The website describes a planned 2026 tiered model: small grants of $25,000–$75,000 for 6–12 months; medium grants of $100,000–$200,000 for 12–24 months; and large grants of $250,000–$400,000 for 24–36 months. A separate RFP sought an independent evaluation of the seeded-investment program for HBCU students, with a budget not to exceed $50,000. That RFP’s February 25, 2026 deadline has passed. It requested a proposal with a detailed line-item budget and budget narrative, including direct and indirect costs, using the requested budget format and complying with ICMM’s indirect cost policy.
Review Cycle
The HBCU student investment evaluation RFP deadline was February 25, 2026; this cycle is past.
How to Apply
The website describes funding tiers and has posted project-specific requests for proposals.
Ready to take the next step with The Institute of Consumer Money?
Geographic Focus
Where this funder awards grants
The organization’s stated mission refers to its local community and the United States. Its website describes its primary mission as supporting LMI individuals and families across the United States.
Grant Distribution by State
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $86K (2019) to $1.7M (2021). In 2025 it reported $799K in grants paid, as a total without an itemized list.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grant Insights
How this funder distributes its grants
Grant Size Distribution
18 grants across all recorded years
The most common grant size was in the $100–250K range: 6 grants of 18 (33%).
Giving History
Grant recipients and amounts by year
No grants recorded for 2025.
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants reported |
|---|---|---|---|---|
| 2025 | $5,433,271 | $1,914,548 | $1,160,610 | 0 |
| 2024 | $4,380,934 | $443,234 | $834,898 | $658,700 across 3 grants |
| 2023 | $4,397,839 | $414,692 | $970,697 | $802,500 across 6 grants |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $5,433,271 | $4,380,934 | $4,397,839 |
| Revenue | $1,914,548 | $443,234 | $414,692 |
| Expenses | $1,160,610 | $834,898 | $970,697 |
| Net Investment Income | $251,200 | $179,899 | $82,691 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS January 31, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS December 17, 2020)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 28, 2021)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 2, 2022)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 2, 2023)
- Updated Form 990 for fiscal year 2024 (received by the IRS March 3, 2025)
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Dr. Diane Chen as executive director; Monica Smiley as chairman/president; Dr. Tara Kenyon and Dr. Jeffrey Leiter as board directors; and Lee Tate as treasurer. It also lists Erin Krupa as a board director.
The Institute of Consumer Money is led by Diane Chen, Executive Director since 2025 (on filings since 2019); none of the 6 officers listed in 2025 report compensation.
Officers on the 2025 filing
Diane Chen
Executive Director
President → Executive Di, 2020
Executive Di → Executive Director, 2025
On filings since 2019
25 hrs/week
No compensation reported
Monica Smiley
Chairman & President
Chairman & Vice President → Chairman & President, 2020
On filings since 2019
2 hrs/week
No compensation reported
Jeffrey Leiter
Board Director
On filings since 2019
2 hrs/week
No compensation reported
Erin Krupa
Board Director
On filings since 2021
2 hrs/week
No compensation reported
Tara Kenyon
Board Director
On filings since 2022
2 hrs/week
No compensation reported
Lee Tate
Treasurer
On filings since 2019
2 hrs/week
No compensation reported
Former officers (1)
- Former: Graham Swift (2019–2021) — Board Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Mailing address: 3724 National Drive, Raleigh, NC 27612
Phone: (855) 672-3539
Website: https://icmmnc.org
Frequently asked questions about The Institute of Consumer Money
How much does The Institute of Consumer Money give each year?
The Institute of Consumer Money reported $799K in grants paid in 2025 on its 2025 IRS Form 990, as a total without an itemized list of grants. In 2024 it gave $659K across 3 grants.
How large is The Institute of Consumer Money?
The Institute of Consumer Money reported $5.4M in total assets on its 2025 IRS Form 990. Its revenue that year was $1.9M.
What does The Institute of Consumer Money fund?
The organization’s mission, as stated in its 2024 filing, is to create a sustainable financial future for consumers by funding research and studies that promote positive spending behaviors and consumer asset building, and by promoting financial literacy in its community and across the United States. See mission & focus areas ↑
How do I apply for a grant from The Institute of Consumer Money?
The website describes funding tiers and has posted project-specific requests for proposals. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
Where does The Institute of Consumer Money make grants?
The organization’s stated mission refers to its local community and the United States. Its website describes its primary mission as supporting LMI individuals and families across the United States.
What is The Institute of Consumer Money's EIN?
The Institute of Consumer Money's EIN (Employer Identification Number) is 47-1524248. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Here's the math on researching The Institute of Consumer Money by hand.
Explore Open Grants
Browse active grant opportunities in The Institute of Consumer Money's focus areas in our free grants database
Similar Funders
Similar funders in North Carolina
State Employees Credit Union Foundation
Raleigh, NC
The foundation funds capital projects, regional or statewide programs, and organizational capacity building that strengthen North Carolina communities; it favors projects with broad or replicable impact and does not fund operating budgets or shortfalls. Its 2025 grants ranged from $1,250 to $1 million, with a median of $2,500. Applications are accepted at any time and typically reviewed semiannually.
Assets
$61.0M
Grants
1,806
Total Given
$17.4M
Foundation for the Carolinas
Charlotte, NC
Foundation For The Carolinas funds education and youth development, environmental and wildlife work, health and human services, and animal welfare, with a reported median grant of $25,000 in 2024. Its competitive programs focus on Charlotte-Mecklenburg, the Carolinas, and specific local communities, while donor-advised funds may support eligible nonprofits more broadly; it accepts applications for some competitive grants, but most grants are recommended by fund advisors and have no application process.
Assets
$3.9B
Grants
1,605
Total Given
$609.1M
Dogwood Health Trust
Asheville, NC
Dogwood Health Trust funds work in housing, education, economic opportunity, and health and wellness that improves wellbeing in Western North Carolina, including its 18 counties and the Qualla Boundary. Its 2024 grants ranged from $2,000 to $21 million, with a median of $37,500; application requirements vary by funding opportunity.
Assets
$2.0B
Grants
835
Total Given
$148.2M
The Winston-Salem Foundation
Winston-Salem, NC
The Winston-Salem Foundation funds charitable organizations serving Forsyth County, North Carolina, across areas including education, housing, economic opportunity, civic engagement, arts, health, and human services. Its 2024 median grant was $25,000; specific programs offer grants ranging from small grants of up to $2,000 to capital grants of up to $100,000. The profile describes application-based programs but does not state whether unsolicited requests are accepted.
Assets
$630.1M
Grants
823
Total Given
$90.4M
The Community Foundation of Western North Carolina Inc
Asheville, NC
The Community Foundation of Western North Carolina funds nonprofits and public agencies serving 18 Western North Carolina counties, including the Qualla Boundary, in areas such as cultural resources, education, human services, and natural resources. Its 2025 grants had a median of $25,000, though award sizes varied widely; some local opportunities cap grants at $5,000 or $7,500. It provides an online application system, but the profile does not state whether unsolicited requests are accepted.
Assets
$481.0M
Grants
793
Total Given
$59.4M
North Carolina Community Foundation Inc
Raleigh, NC
The North Carolina Community Foundation supports charitable organizations and community programs in areas such as human services, education, youth development, health, food and nutrition, and the arts. Its typical grant was $15,000 in 2025; it serves communities statewide, with an emphasis on rural North Carolina, and accepts applications through specific affiliate, giving-circle, and other grant programs.
Assets
$569.1M
Grants
732
Total Given
$30.6M
Triangle Community Foundation Inc
Durham, NC
The foundation supports nonprofits in cultural arts, education and youth, nonprofit capacity building, and sustainable communities, with grants also benefiting fields such as health, conservation, and human services. Its 2025 grants had a median of $20,000 and ranged from about $5,000 to $1.39 million; it primarily serves Durham, Orange, Wake, and Chatham Counties in North Carolina. It accepts applications for competitive discretionary programs during open grant cycles; donor-advised fund grants are also made.
Assets
$335.8M
Grants
599
Total Given
$26.7M
The Leon Levine Foundation
Charlotte, NC
The Leon Levine Foundation funds healthcare, human services, education, and Jewish community work, primarily benefiting people in North and South Carolina. Its 2025 grants ranged from $10,000 to $2.1 million, with a median of $60,000. It accepts unsolicited requests through an eligibility quiz and portal, starting with a letter of inquiry.
Assets
$1.9B
Grants
522
Total Given
$57.9M
NCHSAA Foundation Inc
Chapel Hill, NC
The NCHSAA Foundation supports NCHSAA member schools, mainly in North Carolina, with programs and resources for student-athletes’ wellness, safety, life skills, equipment, and scholarships. In 2025, grants ranged from $750 to $5,000, with a median of $1,845. It funds only preselected charitable organizations and does not accept unsolicited requests.
Assets
$25.9M
Grants
498
Total Given
$967K
The Duke Endowment
Charlotte, NC
The Duke Endowment funds child and family well-being, health care, higher education at four named colleges and universities, and rural churches, primarily in North Carolina and South Carolina. Its 2024 grants ranged from $7,000 to $6.8 million, with a median of $200,000. The application process varies by program; the profile does not state whether unsolicited requests are accepted.
Assets
$3.6B
Grants
480
Total Given
$251.2M
The Morehead-Cain Foundation
Chapel Hill, NC
The Morehead-Cain Foundation primarily funds scholarships and leadership-development experiences for UNC–Chapel Hill students, with additional support for North Carolina educators and selected organizations. Its 2025 grants ranged from $23 to $4.75 million, with a median of $27,004; reported giving was concentrated in North Carolina. The profile does not state whether it accepts unsolicited requests.
Assets
$225.0M
Grants
422
Total Given
$14.9M
Anonymous Trust
Raleigh, NC
Anonymous Trust supports education, health and human services, arts and culture, community and economic development, historic preservation, the environment, and disaster relief, with a focus on rural and under-resourced communities in eastern North Carolina. Its 2025 grants had a median of $3,000, though awards ranged widely; the profile does not state whether it accepts unsolicited requests.
Assets
$110.5M
Grants
344
Total Given
$20.3M
More Funders in North Carolina
The Institute of Consumer Money down — hundreds of funders to go?