American Debt Resources Inc
- Assets
- $256.6k
- Revenue
- $441.2k
- Investments
- $0.0
- Employees
- 4
- Location
- East Northport, NY
- Founding
- 10/2001
- Data as of
- 12/2022
- EIN
- 11-3603198
Organization Overview
American Debt Resources Inc is located in East Northport, NY. The organization was established in 2001. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2022, American Debt Resources Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Debt Resources Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, American Debt Resources Inc generated $441.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $424.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST INDIVIDUALS WHO ARE EXPERIENCING FINANCIAL DIFFICULTIES THROUGH PROFESSIONAL CREDIT AND HOUSING COUNSELING SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUCCESSFULLY COUNSELS AND ELIMINATES THE NEED FOR DEBT CONSOLIDATION AND BANKRUPTCY THROUGH BUDGET PLANNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christian Moriarty President | OfficerTrustee | 40 | $111,447 |
William Deliberti Vice President | Trustee | 0 | $0 |
Stephen Dunat Secretary | Trustee | 0 | $0 |
Lloyd Anderson Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $354,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $396,250 |
| Total Program Service Revenue | $44,907 |
| Investment income | $77 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $441,234 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $111,447 |
| Compensation of current officers, directors, key employees. | $111,447 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,113 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,272 |
| Payroll taxes | $20,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,079 |
| Advertising and promotion | $781 |
| Office expenses | $2,790 |
| Information technology | $16,934 |
| Royalties | $0 |
| Occupancy | $22,141 |
| Travel | $3,213 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $371 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164 |
| Insurance | $5,269 |
| All other expenses | $10,512 |
| Total functional expenses | $424,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,456 |
| Savings and temporary cash investments | $6,351 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,492 |
| Net Land, buildings, and equipment | $13,160 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,165 |
| Total assets | $256,624 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,626 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,557 |
| Total liabilities | $11,183 |
| Net assets without donor restrictions | $233,814 |
| Net assets with donor restrictions | $11,627 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $256,624 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that American Debt Resources Inc has recieved totaling $8,063.
| Awarding Organization | Amount |
|---|---|
The Center For New York City New York, NY PURPOSE: HOUSING & LEGAL COUNSELING | $8,058 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Garden State Consumer Credit Counseling Inc Manalapan, NJ | $15,368,790 | $14,807,314 |
American Consumer Credit Counseling Inc Auburndale, MA | $18,184,034 | $13,306,197 |
Cambridge Credit Counseling Corp Agawam, MA | $10,545,696 | $7,101,425 |
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Hebrew Free Loan Society Inc New York, NY | $39,139,675 | $5,814,730 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumers Credit Counseling Service Of Rochester Inc Rochester, NY | $7,908,723 | $3,468,563 |
Start Small Think Big Inc New York, NY | $5,478,531 | $5,454,234 |
Money Management New York, NY | $8,835,712 | $4,309,180 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |
Intl Federation Of Red Cross And Red Crescent Soc At The U N Inc New York, NY | $144,561 | $1,804,361 |
Parachute Credit Counseling Inc West Seneca, NY | $1,575,678 | $1,698,417 |