Overview
What is Parachute Credit Counseling Inc?
Parachute Credit Counseling Inc, based in West Seneca, New York, is a local, non-profit credit counseling agency serving the Western New York community. Their mission is to empower the community with effective credit management strategies. As the only local agency in the region, Parachute takes pride in offering personalized, quality services, differentiating itself from national companies that often exploit clients. Their approach involves a confidential consultation with a financial counselor, where clients can discuss and explore debt reduction options, resulting in tailored budget analyses and financial goals. If a creditor repayment plan is suitable, Parachute works to ensure clients can manage their monthly expenses for an extended term, potentially reducing monthly payments and interest rates. With a workforce of 19 individuals, Parachute Credit Counseling Inc continues to serve over 1,400 clients, helping them navigate their financial challenges.
Official website here: www.parachutecreditcounseling.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 96% (Four-Star out of Four Star rating)
Parachute Credit Counseling Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization boasts a perfect score for its independent board members and maintains high standards in its financial oversight and transparency practices. With significant program expenses directed towards its mission, the charity demonstrates a commitment to effective resource allocation.
User feedback from Great Nonprofits highlights the professionalism and supportive nature of the staff at Parachute Credit Counseling. A reviewer shared a personal experience, emphasizing the kindness and effectiveness of the services offered, particularly during challenging financial times. This indicates a strong client-focused approach that resonates well with those seeking help.
While the organization has received positive reviews and high ratings, it's important to consider that user feedback may be limited to individual experiences. However, the overall financial integrity and governance of Parachute Credit Counseling position it as a reputable nonprofit in its field.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Parachute Credit Counseling Inc legitimate?
Parachute Credit Counseling Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parachute Credit Counseling Inc 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: $124,044
Professional Fundraising Fees: $0
Other Salaries and Wages: $735,539
For more financial information, click here
Official website here: www.parachutecreditcounseling.org
What is the mission statement of Parachute Credit Counseling Inc?
Parachute Credit Counseling Inc's mission is centered around providing the community with effective strategies to manage their credit. The organization aims to distinguish itself from other credit counseling agencies by emphasizing the importance of quality services and financial education. During confidential interviews with financial counselors, clients can discuss and explore options for managing unsecured debt. The counselor then creates a budget analysis to examine the client's financial situation, offering suggestions to achieve financial goals. If a creditor repayment plan is suitable, Parachute works to help the client meet their monthly expenses for an extended term, potentially leading to lower monthly payments, reduced interest rates, and fees for 1,454 clients served.
Official website here: www.parachutecreditcounseling.org
Who is the CEO of Parachute Credit Counseling Inc?
Noelle Carter is the Board Chairman of Parachute Credit Counseling Inc. The CEO's salary of Parachute Credit Counseling Inc is $124,044 and their total compensation is $128,544.
Official website here: www.parachutecreditcounseling.org
What is the revenue of Parachute Credit Counseling Inc?
Parachute Credit Counseling Inc's revenue in 2022 was $1,698,417.
Official website here: www.parachutecreditcounseling.org
Who are the executives of Parachute Credit Counseling Inc and what are their salaries?
The average compensation at Parachute Credit Counseling Inc during 2022 was $45,241. There are 19 employees and 20 volunteers at Parachute Credit Counseling Inc.
Here are 12 key members and their salaries (Parachute Credit Counseling Inc's CEO's salary is $124,044 and their total compensation is $128,544):
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- Compensation: $124,044
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- Other: $4,500
Official website here: www.parachutecreditcounseling.org
Where can I find the form 990 for Parachute Credit Counseling Inc?
Parachute Credit Counseling Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.parachutecreditcounseling.org
Learn more at the official website: www.parachutecreditcounseling.org
Mission Statement of Parachute Credit Counseling Inc
Parachute Credit Counseling Inc is committed to serving the community with the best strategies to master their credit. Their mission is to distinguish themselves as the local, non-profit credit counseling agency in their area, providing quality services that differ from the "1-800 companies" often exploiting clients. They offer confidential interviews with financial counselors, where clients discuss their unsecured debt and financial situation. The counselor then creates a budget analysis, providing helpful suggestions to achieve financial goals. If a creditor repayment plan is suitable, Parachute works to ensure the client meets their monthly household and creditor expenses for an extended term, potentially leading to lower monthly payments, reduced interest rates, and fees for the clients. With 1,454 clients served, Parachute Credit Counseling Inc demonstrates its commitment to financial education and responsibility, empowering individuals to take control of their credit and achieve financial freedom.
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Impact
October, 2024
Parachute Credit Counseling Inc significantly impacts the community by empowering individuals with crucial knowledge and skills to manage their credit effectively. With a focus on providing personalized credit counseling, the organization stands out in Western New York by being a local and dedicated resource for individuals facing unsecured debt issues.
Clients benefit from confidential interviews where they engage in detailed discussions with experienced financial counselors who analyze their financial situations and develop tailored strategies. This process includes creating a comprehensive budget analysis, which enables clients to gain clarity on their financial health and identify actionable steps towards achieving their financial goals.
Additionally, Parachute Credit Counseling advocates for informed decision-making by emphasizing the distinction between local, quality services and the often impersonal 1-800 companies that may exploit vulnerable clients. This educational approach helps clients navigate their options more responsibly, fostering long-term financial freedom.
By serving 1,454 clients, the agency not only works towards reducing their debt-load but also aims to enhance their overall financial literacy. Clients who engage in creditor repayment plans often experience lowered monthly payments and reductions in interest rates and fees, further alleviating the burden of debt. Overall, Parachute Credit Counseling Inc plays a vital role in promoting financial stability and responsible credit management within the community it serves.
This information is meant to be a general summary of Parachute Credit Counseling Inc. 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: $1,213,530
- Gross Receipts: $1,698,417
Assets and Liabilities:
- Total Assets: $1,575,678
- Total Liabilities: $423,811
- Net Assets: $1,151,867
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CREDITOR PROCESSING FE
Revenue
$667,585
FAIR SHARE REVENUE
Revenue
$468,508
EDUCATIONAL PROGRAMS
Revenue
$77,262
APPOINTMENT FEES
Revenue
$175
Organization Details
Founding Year
1965
Phone
(716) 712-2060Principal Officer
Noelle Carter
Main Address
40 GARDENVILLE PARKWAY 300, WEST SENECA, NY, 14224
NTEE Category
Code: P51Z - Human services
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