Overview
What is 1st Corp Services Inc?
1st Corp Services Inc, operating under the name PayCo, is a nonprofit organization situated in Columbus, Ohio. Their primary role involves providing financial counseling and acting as a representative payee for individuals in the community who receive Social Security income. These individuals may have mental health or developmental disabilities. The organization's services include managing their finances, completing Social Security Administration paperwork, and providing benefit analysis. With a team of 12 employees, 1st Corp Services Inc aims to ensure financial security and independence for the individuals they serve.
Official website here: www.paycopayee.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (54%)
1st Corp Services Inc has received a One-Star rating from Charity Navigator, reflecting a low overall score of 54%, which is solely based on its Accountability & Finance metrics. This score highlights significant concerns regarding the organization's governance and financial transparency, with the majority of the indicators, such as board independence and conflict of interest policies, scoring poorly.
The organization's strengths include a high Program Expense Ratio of 96.49%, indicating that a substantial portion of its expenditures is directed towards its programs. Additionally, it has demonstrated a solid performance in managing liabilities to assets, scoring full marks in this area. However, the notable absence of independent board members and lack of essential policies raises questions about its governance structure and accountability practices.
Despite some financial management strengths, the serious deficiencies in governance and transparency outlined by the absence of key policies and documentation result in a heightened risk for donors and stakeholders. Overall, while the organization allocates a significant amount of its budget to programs, the lack of governance measures poses challenges to its credibility and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is 1st Corp Services Inc legitimate?
1st Corp Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1st Corp Services 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: $139,220
Professional Fundraising Fees: $0
Other Salaries and Wages: $292,663
For more financial information, click here
Official website here: www.paycopayee.org
What is the mission statement of 1st Corp Services Inc?
1st Corp Services Inc is a voluntary professional payeeship program that aids mentally health and developmentally disabled individuals who collect income from the Social Security Administration. Their primary mission is to offer money managing services, completing all necessary Social Security Administration paperwork and providing benefit analysis for these individuals. The organization's goal is to simplify the process for those in the community who receive Social Security income and are required to have a representative payee, offering financial counseling as part of their services.
Official website here: www.paycopayee.org
Who is the CEO of 1st Corp Services Inc?
Lynn Nichols is the President of 1st Corp Services Inc. The CEO's salary of 1st Corp Services Inc is $65,500 and their total compensation is $67,465.
Official website here: www.paycopayee.org
What is the revenue of 1st Corp Services Inc?
1st Corp Services Inc's revenue in 2021 was $846,915.
Official website here: www.paycopayee.org
Who are the executives of 1st Corp Services Inc and what are their salaries?
The average compensation at 1st Corp Services Inc during 2021 was $35,990. There are 12 employees at 1st Corp Services Inc.
Here are 3 key members and their salaries (1st Corp Services Inc's CEO's salary is $65,500 and their total compensation is $67,465):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $65,500
- Related: $0
- Other: $1,965
- Compensation: $73,720
- Related: $0
- Other: $2,212
Official website here: www.paycopayee.org
Where can I find the form 990 for 1st Corp Services Inc?
1st Corp Services Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.paycopayee.org
Learn more at the official website: www.paycopayee.org
Mission Statement of 1st Corp Services Inc
1st Corp Services Inc is a voluntary professional payeeship program committed to assisting mental health and developmentally disabled individuals. Their primary mission is to manage the financial affairs of these individuals who receive income from the Social Security Administration. The organization takes on this responsibility by completing all necessary Social Security Administration paperwork and providing a benefit analysis. This service ensures that the individuals under their care are effectively managing their funds, providing them with financial stability and peace of mind.
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Impact
October, 2024
1st Corp Services Inc significantly impacts the lives of individuals with mental health and developmental disabilities by offering essential financial management services. By providing a voluntary professional payeeship program, they help clients navigate the complexities of Social Security income management. This includes completing necessary paperwork and conducting benefit analyses to ensure individuals receive the maximum support available.
Their services foster financial stability and independence for vulnerable populations who may struggle with managing their finances. Additionally, through proactive counseling and representation, 1st Corp Services Inc alleviates the burden of financial oversight, allowing individuals to focus on their well-being and personal development. By serving the community in Columbus, Ohio, they play a crucial role in enhancing the quality of life for their clients, empowering them to manage their resources effectively and responsibly.
This information is meant to be a general summary of 1st Corp Services 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 2021.
- Investment Income: $4,573
- Program Service Revenue: $823,225
- Gross Receipts: $846,915
Assets and Liabilities:
- Total Assets: $5,234,297
- Total Liabilities: $4,689,909
- Net Assets: $544,388
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MONEY MGMT & SS CONSULT FEES
Revenue
$823,225
Organization Details
Founding Year
1998
Phone
(614) 297-6420Principal Officer
Lynn Nichols
Main Address
PO BOX 6006, COLUMBUS, OH, 43206
Website
www.paycopayee.orgNTEE Category
Code: P99 - Human services
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