Overview
What is Consumer Debt Counselors Inc?
Consumer Debt Counselors Inc is a nonprofit organization, headquartered at 831 WEST MORSE BLVD, Winter Park, FL 32789. Their primary mission is to support financially underserved American families, offering financial counseling, education, and advocacy for financial wellness. The organization is a member of the National Foundation for Credit Counseling (NFCC) and holds an accreditation from the Better Business Bureau with an A+ rating. Consumer Debt Counselors provides no-cost financial counseling sessions, helping clients establish financial goals, create budgets, and develop action plans. Furthermore, they offer a Debt Management Program (DMP) to clients, which enables creditors to recover total outstanding balances while negotiating concessions like reduced interest rates. During the 2022 fiscal year, the organization conducted 1,946 financial counseling sessions in various formats and assisted 451 clients in starting a new DMP, with 244 successfully completing the program.
Official website here: www.consumerdebtcounselors.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating
Consumer Debt Counselors Inc has achieved a remarkable 96% score, which reflects its strong performance in accountability and finance. The organization has maintained a high level of transparency, with an independent board consisting entirely of independent members and robust policies such as conflict of interest and whistleblower protections in place. This rating indicates a commitment to ethical governance and responsible financial management.
The nonprofit excels in its financial ratios, demonstrating efficient allocation of resources with a program expense ratio of 92.82%. This means that a significant portion of its funds is directed towards its programs rather than administrative costs, which is a positive indicator for potential donors looking to support impactful organizations. The organization also has a low liabilities to assets ratio at 25.77%, suggesting a stable financial position.
While the data reflects strong governance practices and financial health, the summary does not provide information on program effectiveness or community impact, which are essential aspects for evaluating the overall success of a nonprofit's mission. However, the current financial transparency and accountability warrant confidence among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Consumer Debt Counselors Inc legitimate?
Consumer Debt Counselors Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Consumer Debt Counselors 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: $19,780
Professional Fundraising Fees: $0
Other Salaries and Wages: $749,154
For more financial information, click here
Official website here: www.consumerdebtcounselors.com
What is the mission statement of Consumer Debt Counselors Inc?
Consumer Debt Counselors Inc's mission is centered around providing financial literacy programs and crisis counseling at an affordable or no cost. Their goal is to promote the responsible management of financial resources. Acting as a community resource, they offer financial counseling and education to underserved American families. As a member of the National Foundation for Credit Counseling and an accredited member of the Better Business Bureau, they provide detailed financial reviews, helping clients define financial goals, establish budgets, and create action plans. Some clients may enroll in a debt management program, allowing creditors to recover outstanding balances while negotiating concessions like lower interest rates. In the 2022 fiscal year, they conducted over 1900 financial counseling sessions and helped 451 clients start a new debt management program.
Official website here: www.consumerdebtcounselors.com
Who is the CEO of Consumer Debt Counselors Inc?
George Janas is the President of Consumer Debt Counselors Inc.
Official website here: www.consumerdebtcounselors.com
What is the revenue of Consumer Debt Counselors Inc?
Consumer Debt Counselors Inc's revenue in 2022 was $1,408,358.
Official website here: www.consumerdebtcounselors.com
Who are the executives of Consumer Debt Counselors Inc and what are their salaries?
The average compensation at Consumer Debt Counselors Inc during 2022 was $48,058. There are 16 employees at Consumer Debt Counselors Inc.
Here are 7 key members and their salaries:
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- Other: $19,780
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- Other: $0
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- Other: $0
Official website here: www.consumerdebtcounselors.com
Where can I find the form 990 for Consumer Debt Counselors Inc?
Consumer Debt Counselors Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.consumerdebtcounselors.com
Learn more at the official website: www.consumerdebtcounselors.com
Mission Statement of Consumer Debt Counselors Inc
Consumer Debt Counselors Inc, a respected organization, is committed to providing financial literacy programs and financial crisis counseling on a low-cost or no-cost basis. Their mission is to promote the stewardship of financial resources within underserved American families. They achieve this by offering financial counseling sessions where clients undergo a detailed financial review, defining their financial goals, establishing budgets, and creating action plans to achieve them. All counseling services are provided at no cost to the clients, with funding coming from generous grants from community partners. In addition to financial counseling, Consumer Debt Counselors Inc offers debt management programs (DMPs) to clients. These programs allow creditors to recover outstanding balances while negotiating concessions, such as lower interest rates, to ensure clients can repay their debts without facing additional financial difficulties. During the 2022 fiscal year, the organization conducted 1946 financial counseling sessions and helped 451 clients start a new DMP, with 244 clients successfully completing the program.
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Impact
July, 2024
Consumer Debt Counselors Inc provides a crucial service by offering financial counseling and education to underserved American families. Through their efforts, they promote financial wellness and empower individuals to manage their finances effectively. By providing no-cost financial counseling and debt management programs, they assist clients in overcoming financial difficulties and achieving their financial goals. This organization's impact can be seen in the number of successful counseling sessions conducted and clients who have benefited from their programs, ultimately contributing to financial stability and empowerment in the community.
This information is meant to be a general summary of Consumer Debt Counselors 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.
- Program Service Revenue: $1,302,706
- Gross Receipts: $1,408,358
Assets and Liabilities:
- Total Assets: $1,784,736
- Total Liabilities: $460,030
- Net Assets: $1,324,706
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$1,302,706
Organization Details
Founding Year
1998
Phone
(407) 599-0057Principal Officer
George Janas
Main Address
831 WEST MORSE BLVD, WINTER PARK, FL, 32789
NTEE Category
Code: P51 - Human services
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