Overview
What is Consumer Bankruptcy Assistance Project?
Consumer Bankruptcy Assistance Project is a nonprofit organization based in Philadelphia, Pennsylvania, specifically at 718 Arch Street Suite 300N. Their primary mission is to assist financially vulnerable Philadelphians by offering debt counseling and pro bono Chapter 7 bankruptcy representation through volunteer attorneys. The project aims to help individuals whose income falls below the federal poverty level, working towards financial stabilization. This is accomplished by providing free training and educational seminars to recruit, train, and support volunteer attorneys who represent clients in need of debt counseling or Chapter 7 bankruptcy representation, allowing them to start anew financially. The organization has a small team of two dedicated employees.
Official website here: www.cbap-phl.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
The Consumer Bankruptcy Assistance Project has received a Three-Star rating from Charity Navigator, which reflects its strong performance in Accountability and Finance. The organization boasts a high program expense ratio of 93.76%, indicating that a significant portion of its funds are directed towards its mission rather than administrative costs. Furthermore, the organization demonstrates robust governance practices with 100% of its board members being independent and no material diversion of assets reported.
While the charity excels in various accountability measures, it has a notably low score in the liabilities to assets ratio, which stands at 78.67%. This indicates that the organization may have a high level of liabilities compared to its assets, a factor that could raise concerns regarding its financial stability. However, the overall high scores in areas such as conflict of interest policies and documentation practices suggest that the organization is committed to transparency and ethical governance.
In summary, the Consumer Bankruptcy Assistance Project is well-rated for its financial accountability and ethical practices, though potential donors may want to consider its liabilities when evaluating the organization's financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Consumer Bankruptcy Assistance Project legitimate?
Consumer Bankruptcy Assistance Project is a legitimate nonprofit organization registered as a 501(c)(3) entity. Consumer Bankruptcy Assistance Project 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: $85,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $86,880
For more financial information, click here
Official website here: www.cbap-phl.org
What is the mission statement of Consumer Bankruptcy Assistance Project?
The Consumer Bankruptcy Assistance Project's mission involves assisting individuals with income levels below the federal poverty threshold in stabilizing their finances. They achieve this by recruiting, training, and supporting volunteer attorneys who provide debt counseling and pro bono Chapter 7 bankruptcy representation, enabling clients to secure a fresh financial start. The project also offers free training and educational seminars to its volunteers.
Official website here: www.cbap-phl.org
Who is the CEO of Consumer Bankruptcy Assistance Project?
Sherry Hoban is the Executive Di of Consumer Bankruptcy Assistance Project.
Official website here: www.cbap-phl.org
What is the revenue of Consumer Bankruptcy Assistance Project?
Consumer Bankruptcy Assistance Project's revenue in 2022 was $203,408.
Official website here: www.cbap-phl.org
Who are the executives of Consumer Bankruptcy Assistance Project and what are their salaries?
The average compensation at Consumer Bankruptcy Assistance Project during 2022 was $85,940. There are 2 employees and 44 volunteers at Consumer Bankruptcy Assistance Project.
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Official website here: www.cbap-phl.org
Where can I find the form 990 for Consumer Bankruptcy Assistance Project?
Consumer Bankruptcy Assistance Project's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbap-phl.org
Learn more at the official website: www.cbap-phl.org
Mission Statement of Consumer Bankruptcy Assistance Project
The Consumer Bankruptcy Assistance Project, a nonprofit organization, is dedicated to aiding Philadelphians whose incomes fall below the federal poverty level, who are seeking financial stability. The project's primary mission is to recruit, train, and support volunteer attorneys who provide debt counseling and Chapter 7 bankruptcy representation for clients, thereby enabling them to obtain a fresh financial start. In addition to this, the Consumer Bankruptcy Assistance Project offers free training and educational seminars to its volunteer attorneys, ensuring they are well-equipped to tackle the intricacies of debt-related issues. The organization's work is instrumental in assisting indigent Philadelphians in navigating their severe debt problems, providing them with the legal guidance and representation they need to regain financial control.
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Impact
October, 2024
The Consumer Bankruptcy Assistance Project significantly impacts Philadelphia by providing crucial support to residents whose incomes fall below the federal poverty level. By offering debt counseling and pro bono Chapter 7 bankruptcy representation through volunteer attorneys, the project helps individuals navigate severe debt problems and work towards stabilizing their finances.
Additionally, the project conducts free training sessions and educational seminars, empowering clients with the knowledge they need to make informed financial decisions. This initiative not only assists individuals in achieving a fresh financial start but also fosters a greater understanding of debt management and bankruptcy processes, ultimately contributing to the financial health of the community as a whole. Through its efforts, the project plays a vital role in alleviating the financial burdens faced by low-income populations in Philadelphia.
This information is meant to be a general summary of Consumer Bankruptcy Assistance Project. 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: $62
- Gross Receipts: $231,764
Assets and Liabilities:
- Total Assets: $422,808
- Total Liabilities: $332,632
- Net Assets: $90,176
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Organization Details
Founding Year
1992
Phone
(215) 523-9511Principal Officer
Sherry Hoban
Main Address
718 ARCH STREET SUITE 300N, PHILADELPHIA, PA, 19106
Website
www.cbap-phl.orgNTEE Category
Code: Z99Z - Unknown
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