Overview
What is National Foundation For Credit Counseling Inc?
The National Foundation for Credit Counseling Inc., established in 1951, is a renowned nonprofit organization based in Washington D.C. With a mission to enhance financial literacy and well-being among Americans, the organization collaborates with the United States Department of Housing and Urban Development (HUD) and industry leaders. Their primary activities involve offering pre-home ownership counseling, post-purchase guidance, eviction prevention for renters, and foreclosure prevention for homeowners. The organization, with 50 member agencies and over 1,200 certified credit counselors, serves consumers nationwide. They empower individuals to manage their finances effectively, addressing concerns such as credit card debt, student loans, housing decisions, and overall money management. With a team of 22 dedicated professionals, the National Foundation for Credit Counseling Inc. continues to lead a movement that equips Americans to take control of their financial futures, ultimately contributing to a stronger economy and nation.
Official website here: www.nfcc.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 96% (Four-Star out of Four Star Rating)**
The National Foundation For Credit Counseling Inc has achieved a commendable Four-Star rating from Charity Navigator, scoring 96% in Accountability and Finance. This high score indicates a strong commitment to financial transparency and ethical governance. The organization has received top marks in areas such as having an independent board and comprehensive financial oversight, reflecting its dedication to responsible management.
The findings highlight the nonprofit's solid performance in financial ratios, including a notable program expense ratio of 78.36%, suggesting that a significant portion of its funding goes directly to programs rather than administrative costs. Additionally, the organization has established various policies, such as conflict of interest and whistleblower protections, which further demonstrate its commitment to accountability.
However, it is important to note that the foundation's rating does not currently include evaluations for Impact & Measurement, Culture & Community, or Leadership & Adaptability. This absence limits a comprehensive understanding of the organization's overall effectiveness and community engagement. User reviews from GreatNonprofits were not available to provide further insights into public sentiment.
This AI summary has been generated from information found on Charity Navigator.
Is National Foundation For Credit Counseling Inc legitimate?
National Foundation For Credit Counseling Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Foundation For 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: $1,490,439
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,488,405
For more financial information, click here
Official website here: www.nfcc.org
What is the mission statement of National Foundation For Credit Counseling Inc?
The National Foundation for Credit Counseling Inc., established in 1951, has a mission to spearhead a national movement aimed at equipping Americans with the necessary skills to manage their financial futures. This, in turn, contributes to the advancement of the economy and the nation as a whole. The organization, with its network of 50 member agencies and over 1,200 NFCC-certified credit counselors, provides one-on-one financial reviews to consumers across the United States. These reviews address various financial challenges, including credit card debt, student loans, housing decisions, and overall money management. The goal is to empower consumers to take charge of their finances, serving millions with financial advice and advocacy.
Official website here: www.nfcc.org
Who is the CEO of National Foundation For Credit Counseling Inc?
Michael Croxson is the Chair of National Foundation For Credit Counseling Inc. The CEO's salary of National Foundation For Credit Counseling Inc is $100,852 and their total compensation is $113,357.
Official website here: www.nfcc.org
What is the revenue of National Foundation For Credit Counseling Inc?
National Foundation For Credit Counseling Inc's revenue in 2022 was $9,648,541.
Official website here: www.nfcc.org
Who are the executives of National Foundation For Credit Counseling Inc and what are their salaries?
The average compensation at National Foundation For Credit Counseling Inc during 2022 was $135,402. There are 22 employees and 19 volunteers at National Foundation For Credit Counseling Inc.
Here are 22 key members and their salaries (National Foundation For Credit Counseling Inc's CEO's salary is $100,852 and their total compensation is $113,357):
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- Compensation: $447,908
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- Other: $7,567
- Compensation: $478,031
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- Other: $36,200
- Compensation: $381,818
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- Other: $25,558
- Compensation: $100,852
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- Other: $12,505
- Compensation: $194,837
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- Other: $42,767
- Compensation: $174,655
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- Other: $34,005
- Compensation: $158,183
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- Other: $10,065
- Compensation: $141,500
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- Other: $16,025
- Compensation: $126,984
- Related: $0
- Other: $15,582
Official website here: www.nfcc.org
Where can I find the form 990 for National Foundation For Credit Counseling Inc?
National Foundation For Credit Counseling Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nfcc.org
Learn more at the official website: www.nfcc.org
Mission Statement of National Foundation For Credit Counseling Inc
The National Foundation for Credit Counseling Inc., established in 1951, is a pioneering nonprofit organization dedicated to enhancing the financial well-being of Americans. Its mission is multifaceted, aiming to spearhead a nationwide movement that equips individuals with the necessary tools to manage their financial futures more effectively. By doing so, the organization contributes to the overall advancement of the economy and the nation as a whole.
The National Foundation for Credit Counseling Inc. comprises 50 member agencies and over 1,200 NFCC-certified credit counselors, spanning 50 states and all U.S. territories. These financial advocates offer personalized one-on-one financial reviews, addressing a wide range of financial challenges, including credit card debt, student loans, housing decisions, and overall money management. By empowering millions of consumers to take charge of their finances, the National Foundation for Credit Counseling Inc. plays a vital role in fostering financial literacy and stability across the nation.
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Impact
July, 2024
The National Foundation for Credit Counseling Inc, through its network of member agencies and certified credit counselors, plays a crucial role in equipping Americans to manage their financial futures. By offering solutions and support to address financial challenges, including credit card debt, student loans, housing decisions, and overall money management, the NFCC empowers millions of consumers to take charge of their finances. Through initiatives like pre-purchase counseling, post-purchase counseling, eviction prevention, and foreclosure prevention, the NFCC helps individuals secure housing and avoid financial pitfalls. This impactful work not only benefits individuals and families but also contributes to the overall advancement of the economy and the nation as a whole.
This information is meant to be a general summary of National Foundation For 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: $861
- Program Service Revenue: $3,578,094
- Gross Receipts: $9,648,541
Assets and Liabilities:
- Total Assets: $9,402,187
- Total Liabilities: $4,061,843
- Net Assets: $5,340,344
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NATIONAL LOCATOR LINE
Revenue
$2,070,161
MEMBERSHIP DUES
Revenue
$1,114,589
CERTIFICATION FEES
Revenue
$223,780
STUDENT LOAN PORTAL
Revenue
$140,000
OTHER PROGRAM SERVICES
Revenue
$28,544
Organization Details
Founding Year
1970
Phone
(202) 677-4314Principal Officer
Michael Croxson
Main Address
2033 K STREET NW 425, WASHINGTON, DC, 20006
Website
www.nfcc.orgNTEE Category
Code: P51Z - Human services
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