Overview
What is Debt Education And Certification Foundation?
Debt Education and Certification Foundation (DECAF) is a nonprofit organization dedicated to strengthening the community by offering financial education. They specialize in providing credit counseling certificates necessary prior to bankruptcy filings and Debtor Education courses to be completed post-filing. The foundation's mission is to empower individuals and families in need, aiming to enhance their financial literacy and stability.
Official website here: www.debt-foundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 90%
The Debt Education and Certification Foundation has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating strong performance in accountability and finance. This rating is significant as it underscores the organization's commitment to transparency and effective financial management, with a focus on responsible spending and governance.
The organization has demonstrated solid strengths, including a majority of independent board members and a comprehensive set of policies regarding conflicts of interest and whistleblower protections. Their financial statements have undergone thorough audits, reflecting a high level of diligence in their fiscal operations. The program expense ratio of 67.26% also suggests that a substantial portion of their budget is dedicated to their mission-related activities.
However, there are slight areas for improvement, particularly in their liabilities to assets ratio, which stands at 53.48%. While this figure is generally acceptable, it indicates that the foundation could enhance its financial stability further. Overall, the foundation is well-regarded for its financial practices, but continued attention to its liabilities could bolster its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Debt Education And Certification Foundation legitimate?
Debt Education And Certification Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Debt Education And Certification Foundation 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: $212,813
Professional Fundraising Fees: $0
Other Salaries and Wages: $584,431
For more financial information, click here
Official website here: www.debt-foundation.org
What is the mission statement of Debt Education And Certification Foundation?
The Debt Education and Certification Foundation, often referred to as DECAF, is dedicated to strengthening the community by providing financial education to individuals and families in need. Specifically, the organization offers credit counseling certificates as a prerequisite for filing for bankruptcy and Debtor Education courses to be completed after filing. The mission of DECAF is centered around equipping individuals with the necessary financial knowledge to navigate their financial challenges more effectively.
Official website here: www.debt-foundation.org
Who is the CEO of Debt Education And Certification Foundation?
Doug Tonne is the Coo of Debt Education And Certification Foundation. The CEO's salary of Debt Education And Certification Foundation is $15,400 and their total compensation is $51,823.
Official website here: www.debt-foundation.org
What is the revenue of Debt Education And Certification Foundation?
Debt Education And Certification Foundation's revenue in 2022 was $1,654,078.
Official website here: www.debt-foundation.org
Who are the executives of Debt Education And Certification Foundation and what are their salaries?
The average compensation at Debt Education And Certification Foundation during 2022 was $36,238. There are 22 employees at Debt Education And Certification Foundation.
Here are 8 key members and their salaries (Debt Education And Certification Foundation's CEO's salary is $15,400 and their total compensation is $51,823):
- Compensation: $146,334
- Related: $0
- Other: $31,443
- Compensation: $108,359
- Related: $0
- Other: $14,015
- Compensation: $35,000
- Related: $0
- Other: $0
- Compensation: $15,400
- Related: $0
- Other: $36,423
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.debt-foundation.org
Where can I find the form 990 for Debt Education And Certification Foundation?
Debt Education And Certification Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.debt-foundation.org
Learn more at the official website: www.debt-foundation.org
Mission Statement of Debt Education And Certification Foundation
Debt Education and Certification Foundation, commonly referred to as DECAF, is a nonprofit organization dedicated to enhancing its community by offering financial education to individuals and families in need. The foundation's primary mission is to provide credit counseling certificates, which are essential prerequisites for filing for bankruptcy. Beyond this, DECAF also offers Debtor Education courses for completion after the bankruptcy filing process has begun. These courses aim to equip individuals with the necessary knowledge and skills to manage their finances effectively and responsibly, thereby promoting financial stability and independence. By offering these services, DECAF plays a crucial role in empowering individuals and families to take control of their financial situations and ultimately, strengthen their communities.
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Impact
October, 2024
Debt Education And Certification Foundation (DECAF) has a significant impact by empowering individuals and families with essential financial education. By offering credit counseling certificates necessary for filing bankruptcy, DECAF ensures that those facing financial difficulties have the guidance and knowledge required to make informed decisions. Additionally, the Debtor Education courses provided after filing help clients understand their financial situations, enabling them to develop better money management skills and strategies for long-term financial stability. This comprehensive approach not only aids clients in navigating their immediate financial crises but also promotes healthier financial practices within the community, fostering resilience and enabling families to build a brighter economic future.
This information is meant to be a general summary of Debt Education And Certification Foundation. 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.
- Investment Income: $12,253
- Program Service Revenue: $1,296,382
- Gross Receipts: $1,748,199
Assets and Liabilities:
- Total Assets: $1,976,853
- Total Liabilities: $1,013,752
- Net Assets: $963,101
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BANKRUPTCY COUNSELING
Revenue
$1,296,382
Organization Details
Founding Year
2005
Phone
(866) 859-7323Principal Officer
Doug Tonne
Main Address
114 GOLIAD ST, BENBROOK, TX, 76126
Website
www.debt-foundation.orgNTEE Category
Code: P51 - Human services
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