Overview
What is Credit Counseling Of Arkansas Inc?
Credit Counseling of Arkansas Inc., a nonprofit organization based in Fayetteville, Arkansas, celebrates its 25th year of operation. Their mission is to enhance the lives of individuals and families by offering financial education, credit and housing counseling, and debt management services. Despite a challenging year marked by a decline in some performance metrics, they managed to achieve notable milestones. Their team launched a financial capability project with Arvest Bank, provided 1,515 free counseling sessions, helped 205 clients become debt-free, and finished the year with a budget surplus for the first time in a decade. The organization's resilience during the pandemic is commendable, as they remained operational without interruption and shifted to remote work without compromising service quality. Their achievements are a testament to the team's dedication, sacrifice, and commitment to their mission. Credit Counseling of Arkansas Inc. relies on the support of partners and volunteers, including local colleges, businesses, churches, and nonprofit organizations, to continue their mission in the coming years.
Is Credit Counseling Of Arkansas Inc legitimate?
Credit Counseling Of Arkansas Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Credit Counseling Of Arkansas 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.
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Other Salaries and Wages: $673,456
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What is the mission statement of Credit Counseling Of Arkansas Inc?
Credit Counseling of Arkansas Inc's mission is centered around improving the quality of life for individuals and families. They achieve this through providing financial education, credit and housing counseling, and debt management services. The organization's goal is to empower their clients with the necessary tools to manage their finances effectively. Despite facing challenges, such as a decline in participation and client numbers, the team at Credit Counseling of Arkansas Inc has shown resilience and achieved significant milestones, including a record number of debt-free clients and a budget surplus. Their mission is further supported by partnerships with various organizations, including local colleges, businesses, churches, and nonprofits.
Who is the CEO of Credit Counseling Of Arkansas Inc?
Don Story is the Secretary of Credit Counseling Of Arkansas Inc.
What is the revenue of Credit Counseling Of Arkansas Inc?
Credit Counseling Of Arkansas Inc's revenue in 2020 was $1,311,283.
Who are the executives of Credit Counseling Of Arkansas Inc and what are their salaries?
The average compensation at Credit Counseling Of Arkansas Inc during 2020 was $39,615. There are 17 employees at Credit Counseling Of Arkansas Inc.
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Where can I find the form 990 for Credit Counseling Of Arkansas Inc?
Credit Counseling Of Arkansas Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Credit Counseling Of Arkansas Inc
Credit Counseling of Arkansas Inc, a nonprofit organization, is dedicated to improving the quality of life for individuals and families by providing financial education, credit and housing counseling, and debt management services. Their mission is centered around empowering people to make informed decisions about their finances, thereby enhancing their overall well-being. The organization operates with a strong commitment to professionalism, integrity, customer service, and teamwork, ensuring they uphold their values while delivering their services. Despite facing challenges in recent times, Credit Counseling of Arkansas Inc has demonstrated resilience, achieving significant milestones and providing vital financial assistance to numerous families. Their mission is a testament to their dedication to helping individuals and families navigate financial complexities, leading them towards a path of financial freedom.
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Impact
October, 2024
Credit Counseling of Arkansas, Inc. has made a significant impact on the financial well-being of individuals and families throughout the community. By providing essential financial education, credit counseling, housing assistance, and debt management services, they aim to enhance the quality of life for their clients.
In the face of challenges brought on by recent disruptions, the organization showcased resilience and adaptability. While there were declines in the number of education participants and counseling clients, the team’s commitment to service never wavered. Over the year, they successfully conducted 1,515 free counseling sessions, demonstrating their dedication to helping those in need. Notably, they supported 205 clients in achieving freedom from debt, the highest number since 2016, highlighting their effectiveness in guiding individuals towards financial stability.
Furthermore, the launch of a three-year financial capability project in partnership with Arvest Bank illustrates their proactive approach to education and community engagement. Despite the hardships posed by the pandemic, they maintained continuous service without closure, swiftly transitioning to remote work to ensure their clients continued to receive the support they required.
The collaboration with local partners, volunteers, and the community at large has played a vital role in their continued success. This strong network not only bolstered their resources but also enhanced their reach, allowing them to address a range of financial challenges faced by households. With new grant funding and support mechanisms in place, the organization finished the year with a budget surplus for the first time in a decade, indicating a positive shift towards sustainable operations.
Overall, Credit Counseling of Arkansas, Inc. stands as a beacon of hope and a source of empowerment for many, striving to foster financial literacy and independence across the region. Their ongoing commitment to service and community collaboration positions them well to support even more individuals and families on their journey to financial freedom in the future.
This information is meant to be a general summary of Credit Counseling Of Arkansas 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 2020.
- Investment Income: $12,544
- Program Service Revenue: $335,514
- Gross Receipts: $1,311,283
Assets and Liabilities:
- Total Assets: $985,008
- Total Liabilities: $277,090
- Net Assets: $707,918
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$335,514
Organization Details
Founding Year
1995
Principal Officer
Don Story
Main Address
P O BOX 10168, Fayetteville, AR, 72703
NTEE Category
Code: P51 - Human services
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