Overview
What is Debt Counseling Corp?
Debt Counseling Corp (DCC) is a nonprofit organization located in Ronkonkoma, New York, dedicated to providing financial education and counseling services. Their primary focus is on one-on-one and telephonic credit counseling, educating over 500 individuals annually, with the majority belonging to the low/moderate income group. Through these sessions, consumers learn to manage their spending and explore debt repayment options, resulting in an improved financial situation. DCC's mission also extends to community outreach, offering workshops and seminars at various locations, primarily catering to low/moderate income attendees. Their outreach programs, such as RESCUE, EFFECT, PIC, and YES, address specific target audiences, while monthly in-house seminars cover topics like credit reports, foreclosure prevention, and retirement planning. DCC's Debt Management Program serves a small percentage of those counseled, but it has proven invaluable for those it benefits.
Official website here: www.debtcounselingcorp.org
Is Debt Counseling Corp legitimate?
Debt Counseling Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Debt Counseling Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $144,173
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.debtcounselingcorp.org
What is the mission statement of Debt Counseling Corp?
Debt Counseling Corp's mission is centered around providing top-notch education to consumers on debt, credit, and financial management issues. They approach each consumer as an individual with unique needs, tailoring their financial objectives accordingly. This mission is accomplished through both in-house and outreach counseling sessions, where the primary focus is on imparting financial decision-making skills to consumers, particularly those in the lower to moderate income bracket. The counseling sessions aim to enhance consumers' understanding of their spending habits and offer strategies to improve their financial situation. The organization's counseling is conducted by certified credit counselors.
Official website here: www.debtcounselingcorp.org
Who is the CEO of Debt Counseling Corp?
Michael Napolitano is the Vp&Corpsec/Trea of Debt Counseling Corp.
Official website here: www.debtcounselingcorp.org
What is the revenue of Debt Counseling Corp?
Debt Counseling Corp's revenue in 2022 was $229,230.
Official website here: www.debtcounselingcorp.org
Who are the executives of Debt Counseling Corp and what are their salaries?
The average compensation at Debt Counseling Corp during 2022 was $72,086. There are 2 employees and 1 volunteer at Debt Counseling Corp.
Here are 7 key members and their salaries:
- Compensation: $78,462
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- Other: $0
- Compensation: $65,711
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- Other: $0
Official website here: www.debtcounselingcorp.org
Where can I find the form 990 for Debt Counseling Corp?
Debt Counseling Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.debtcounselingcorp.org
Learn more at the official website: www.debtcounselingcorp.org
Mission Statement of Debt Counseling Corp
Debt Counseling Corp is committed to delivering exceptional education on topics pertaining to debt, credit, and financial management to consumers. Their primary objective is to treat each individual as a unique case with distinct needs, tailoring their financial objectives accordingly. This mission is accomplished through a combination of in-house and outreach counseling sessions.
During these sessions, Debt Counseling Corp's certified credit counselors aim to educate consumers on their spending habits and provide them with the necessary skills to make informed financial decisions, not just for the short term, but throughout their lifetimes. The organization's counseling services are primarily focused on the lower to moderate income population. The sessions conclude with a comprehensive financial analysis carried out by one of the certified counselors, providing consumers with a clear understanding of their financial situation and potential improvements.
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Impact
October, 2024
Debt Counseling Corp (DCC) significantly impacts the financial literacy and well-being of consumers, particularly those from low to moderate income levels. By providing personalized and group education on debt management, credit counseling, and financial planning, DCC equips participants with the tools and knowledge needed to make informed financial decisions.
The organization's primary service is one-on-one credit counseling, which has educated 531 consumers in a single year. This counseling process involves a comprehensive financial analysis, enabling individuals to identify their spending patterns and discover strategies to reduce expenses and manage their debt effectively. Each consumer receives a customized Action Plan that outlines actionable steps towards financial improvement.
DCC's community outreach plays an essential role in extending this education to a broader audience. Collaborating with various organizations such as schools, libraries, and government agencies, DCC has successfully conducted 57 workshops, reaching approximately 371 participants in 2022 alone. These sessions cover a wide range of topics relevant to consumers, from understanding credit reports to preparing for retirement, tailoring programs to the specific needs of diverse populations, including seniors, youth, and individuals in crisis.
Furthermore, DCC offers a Debt Management Program (DMP) to clients who can benefit from additional support, helping them implement repayment plans and restructure their financial habits. This program, while serving a smaller percentage of those counseled, has proven invaluable for those it fits, ensuring that clients receive ongoing education and assistance throughout their financial journey.
By prioritizing education and individualized support, DCC fosters a culture of financial empowerment, enabling consumers to achieve both short-term stability and long-term success in their financial lives.
This information is meant to be a general summary of Debt Counseling Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $168,061
- Gross Receipts: $229,230
Assets and Liabilities:
- Total Assets: $255,441
- Total Liabilities: $42,712
- Net Assets: $212,729
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEBT MANAGEMENT FEES
Revenue
$114,198
FAIR SHARE
Revenue
$53,863
Organization Details
Founding Year
1995
Phone
(631) 582-4300Principal Officer
Michael Napolitano
Main Address
990 SO SECOND STREET 4, RONKONKOMA, NY, 11779
Website
www.debtcounselingcorp.orgNTEE Category
Code: P51 - Human services
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