Overview
What is Trinity Credit Counseling Inc?
Trinity Credit Counseling Inc, situated in Cincinnati, Ohio, is a 501(C)(3) nonprofit organization. Their primary purpose is to offer credit counseling, debt management, and budgeting assistance to individuals and families dealing with financial difficulties. Their services are often provided at no cost to clients. A certified credit counselor is made available to each inquiry, who begins by explaining the services offered and gathering necessary information about the caller's financial situation. Based on this data, counselors propose viable solutions to address the caller's specific concerns. Their approach includes a critical debt analysis, budget improvement suggestions, and debt repayment recommendations. To tackle the root causes of financial distress, counselors provide follow-up sessions tailored to each individual's needs. Trinity receives numerous inquiries daily, a considerable portion of whom apply for their Debt Management Program (DMP). For those not suited for DMP, alternative solutions such as working directly with creditors, bankruptcy, or external resource referrals are proposed. Trinity's educational and outreach initiatives aim to teach personal financial management skills and techniques, targeting youth, adult education, community colleges, workforce development, and housing education. They collaborate with various organizations, such as public schools, community agencies, and private businesses, to expand their reach and capacity. In 2022, their educational programs reached over 5,500 individuals, emphasizing financial education presentations, workshops, and seminars.
Official website here: www.trinitycredit.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
Trinity Credit Counseling Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting strong performance in accountability and finance. The organization stands out with a high accountability score, achieving 100% on independent board member composition and financial auditing. This indicates a solid governance structure and transparency in financial reporting.
The nonprofit also exhibits impressive financial health, with a low liabilities to assets ratio of 13.89%, which suggests effective management of financial risks. Furthermore, an exceptional program expense ratio of 89.17% indicates that a significant portion of its resources is directed towards its mission-driven services, enhancing its credibility and effectiveness in service delivery.
However, a notable limitation is the absence of a whistleblower policy, which could impact organizational resilience and accountability. While the majority of other governance practices are well-established, addressing this gap may bolster the organization's overall integrity and operational transparency moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Trinity Credit Counseling Inc legitimate?
Trinity Credit Counseling Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Trinity 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: $348,996
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,518,848
For more financial information, click here
Official website here: www.trinitycredit.org
What is the mission statement of Trinity Credit Counseling Inc?
Trinity Credit Counseling Inc's mission is centered around addressing the root causes of debt and financial distress for individuals and families. Recognizing the power of financial education, this credit counseling agency believes that it can effectively tackle issues such as debt, misuse of credit, bankruptcy, and poor financial planning. Their mission is to aid those struggling financially by offering counseling and educational resources, aiming to improve their financial situation and foster financial stability.
Official website here: www.trinitycredit.org
Who is the CEO of Trinity Credit Counseling Inc?
Gary A Vosick is the Director of Trinity Credit Counseling Inc.
Official website here: www.trinitycredit.org
What is the revenue of Trinity Credit Counseling Inc?
Trinity Credit Counseling Inc's revenue in 2022 was $4,585,570.
Official website here: www.trinitycredit.org
Who are the executives of Trinity Credit Counseling Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $2,500
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $2,500
- Related: $0
- Other: $0
- Compensation: $265,225
- Related: $0
- Other: $68,771
- Compensation: $198,268
- Related: $0
- Other: $67,231
Official website here: www.trinitycredit.org
Where can I find the form 990 for Trinity Credit Counseling Inc?
Trinity Credit Counseling Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.trinitycredit.org
Learn more at the official website: www.trinitycredit.org
Mission Statement of Trinity Credit Counseling Inc
Trinity Credit Counseling Inc, as a credit counseling agency, is dedicated to addressing the root causes of debt and financial distress among individuals and families. The organization's mission is centered around the belief that financial education is a powerful tool in addressing issues such as debt, misuse of credit, bankruptcy, and poor financial planning. By offering counseling and education, Trinity Credit Counseling Inc aims to assist those experiencing financial distress in improving their financial situation. The organization is committed to helping its clients navigate their financial challenges and work towards a more stable financial future.
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Impact
October, 2024
Trinity Credit Counseling Inc significantly impacts individuals and families facing financial distress by providing essential credit counseling and debt management services. With a focus on education and budgeting, they cater to those struggling with debt issues, offering personalized guidance to help create sustainable monthly budgets and address financial challenges.
Upon contacting Trinity, clients are connected with certified credit counselors who conduct a comprehensive financial analysis, examining their income, expenses, and debts. This initial assessment is crucial, as it helps identify the root causes of their financial situations. Based on this information, counselors recommend tailored solutions ranging from debt management plans to alternative options like negotiating with creditors or exploring bankruptcy.
Each year, Trinity handles approximately 18,700 inquiries, reflecting the high demand for their services. Of these, around 43% progress to the application stage, with 42% entering debt management programs, demonstrating the effectiveness of their approach. Furthermore, Trinity actively engages in community outreach, reaching about 5,500 individuals annually through educational workshops and seminars that promote financial literacy.
By collaborating with schools, community organizations, and businesses, Trinity aims to foster financial education and awareness, thus empowering individuals with the knowledge and skills necessary to manage their financial health effectively. Their commitment to addressing the systemic issues of debt and financial planning not only helps clients regain control over their finances but also strengthens the community at large.
This information is meant to be a general summary of Trinity 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.
- Investment Income: -$188,552
- Program Service Revenue: $4,774,122
- Gross Receipts: $6,982,547
Assets and Liabilities:
- Total Assets: $8,530,388
- Total Liabilities: $1,833,904
- Net Assets: $6,696,484
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLIENT FEES
Revenue
$2,688,913
FAIRSHARE CREDITORS
Revenue
$2,085,209
Organization Details
Founding Year
1994
Phone
(513) 769-0621Principal Officer
Gary A Vosick
Main Address
11229 READING ROAD, CINCINNATI, OH, 45241
Website
www.trinitycredit.orgNTEE Category
Code: P51 - Human services
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