Overview
What is Consolidated Credit Solutions Inc?
Consolidated Credit Solutions Inc is a nonprofit organization based in Fort Lauderdale, Florida, with a team of 122 employees. Their mission is to help individuals facing financial difficulties by providing professional counseling and financial education. Consolidated Credit Solutions offers a range of services, including loss mitigation and foreclosure prevention counseling, first-time homebuyer education, a substantial financial literacy program, credit counseling, and reverse mortgage counseling. To reach a broader audience, they conduct free monthly community seminars and webinars on topics like budgeting, credit management, pre-purchase counseling, foreclosure prevention, and reverse mortgages.
Official website here: www.consolidatedcreditsolutions.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Three-Star out of Four Stars (81%)
Consolidated Credit Solutions Inc has received an 81% score from Charity Navigator, reflecting a solid performance in accountability and finance. The rating is entirely based on the Accountability & Finance beacon, which is a critical indicator of the organization’s fiscal responsibility and transparency. This score suggests that the nonprofit adheres to strong financial practices and operates with a high level of accountability.
The organization demonstrates notable strengths, including having a fully independent board of directors and a high program expense ratio of 94.22%, indicating that a significant majority of its resources are directed toward its programs rather than administrative costs. Additionally, Consolidated Credit has established robust financial oversight measures, with no material diversion of assets reported and various policies in place, such as conflict of interest and whistleblower policies, which contribute to its transparent governance.
However, the rating reflects a lower score in the liabilities to assets ratio, registering 0 out of 15 points. This aspect suggests potential financial risks that may require attention. While the organization excels in many areas of accountability, addressing its financial liabilities may enhance its overall performance and stability in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Consolidated Credit Solutions Inc legitimate?
Consolidated Credit Solutions Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Consolidated Credit Solutions 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: $700,954
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,036,112
For more financial information, click here
Official website here: www.consolidatedcreditsolutions.org
What is the mission statement of Consolidated Credit Solutions Inc?
Consolidated Credit Solutions Inc is dedicated to helping individuals facing financial hardships through professional counseling and financial education. The organization offers various services including loss mitigation and foreclosure prevention counseling, 1st time homebuyer education, financial literacy programs, credit counseling, and reverse mortgage counseling. Consolidated Credit Solutions focuses on bringing financial education to households with low, low-to-moderate, and moderate income levels. They achieve this by providing free monthly community seminars and webinars on topics such as budgeting, credit management, pre-purchase counseling, foreclosure prevention, and reverse mortgages.
Official website here: www.consolidatedcreditsolutions.org
What is the revenue of Consolidated Credit Solutions Inc?
Consolidated Credit Solutions Inc's revenue in 2024 was $20,049,570.
Official website here: www.consolidatedcreditsolutions.org
Who are the executives of Consolidated Credit Solutions Inc and what are their salaries?
The average compensation at Consolidated Credit Solutions Inc during 2024 was $36,311. There are 158 employees at Consolidated Credit Solutions Inc.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $171,100
- Related: $0
- Other: $4,206
- Compensation: $210,065
- Related: $0
- Other: $17,486
- Compensation: $326,654
- Related: $0
- Other: $42,857
- Compensation: $141,141
- Related: $0
- Other: $4,256
- Compensation: $148,633
- Related: $0
- Other: $3,103
- Compensation: $129,973
- Related: $0
- Other: $3,931
- Compensation: $117,133
- Related: $0
- Other: $1,764
- Compensation: $108,332
- Related: $0
- Other: $3,230
Official website here: www.consolidatedcreditsolutions.org
Where can I find the form 990 for Consolidated Credit Solutions Inc?
Consolidated Credit Solutions Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.consolidatedcreditsolutions.org
Learn more at the official website: www.consolidatedcreditsolutions.org
Mission Statement of Consolidated Credit Solutions Inc
Consolidated Credit Solutions Inc, a renowned nonprofit organization, is dedicated to assisting individuals facing financial difficulties. Through professional counseling and financial education, this esteemed institution strives to make a significant impact on households in low, low-to-moderate, and moderate income census tracks.
The mission of Consolidated Credit Solutions Inc is twofold. First and foremost, they offer a variety of services aimed at mitigating losses and preventing foreclosures. Their counseling programs include loss mitigation and foreclosure prevention, providing much-needed assistance to those teetering on the brink of financial instability. Additionally, they offer 1st time homebuyer education, ensuring that individuals are well-equipped with the knowledge required to make informed decisions about purchasing a home.
Secondly, Consolidated Credit Solutions Inc is deeply committed to financial literacy. They provide an extensive financial literacy program designed to educate individuals and families on essential topics such as budgeting, credit management, pre-purchase counseling, and reverse mortgages. To make this knowledge widely accessible, they host free, monthly community seminars and webinars, touching on various aspects of financial well-being.
In summary, Consolidated Credit Solutions Inc is a beacon of hope for individuals dealing with financial difficulties. By offering professional counseling, education, and various support services, they empower households to take control of their financial situation, ultimately leading to greater stability and prosperity.
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Impact
October, 2024
Consolidated Credit Solutions Inc. plays a vital role in enhancing financial stability and literacy within the community. By offering specialized services such as loss mitigation and foreclosure prevention counseling, the organization directly assists individuals facing financial difficulties, helping them navigate challenging situations and make informed decisions. Their focus on first-time homebuyer education empowers new homeowners to manage their finances effectively and avoid common pitfalls associated with purchasing a home.
Additionally, Consolidated Credit Solutions emphasizes the importance of financial literacy through a comprehensive program that includes budgeting, credit management, and reverse mortgage counseling. By conducting free monthly community seminars and webinars, they reach a diverse audience, particularly targeting low to moderate-income households, and ensure accessibility to crucial financial education.
Ultimately, the organization’s commitment to providing resources and support contributes significantly to the financial well-being of individuals and families. Their efforts not only aim to prevent foreclosure and mitigate financial crises but also foster a culture of financial responsibility and empowerment within the community.
This information is meant to be a general summary of Consolidated Credit Solutions 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 2024.
- Investment Income: $76,049
- Program Service Revenue: $16,490,981
- Gross Receipts: $20,049,570
Assets and Liabilities:
- Total Assets: $6,614,644
- Total Liabilities: $6,266,404
- Net Assets: $348,240
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEBT MANAGEMENT FEES
Revenue
$11,595,372
EDUCATIONAL SERVICES
Revenue
$604,879
HOUSING COUNSELING FEES
Revenue
$355,085
Organization Details
Founding Year
1983
Principal Officer
Evan Lasher
NTEE Category
Code: P50 - Human services
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