Debt Education And Certification Foundation
- Assets
- $2.0m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 22
- Location
- Benbrook, TX
- Founding
- 01/2007
- Data as of
- 12/2022
- EIN
- 20-2870155
Organization Overview
Debt Education And Certification Foundation is located in Benbrook, TX. The organization was established in 2007. 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, Debt Education And Certification Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Debt Education And Certification Foundation 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, Debt Education And Certification Foundation generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) 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 STRENGTHEN THE COMMUNITY BY PROVIDING FINANCIAL EDUCATION TO INDIVIDUALS AND FAMILIES IN NEED
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATTACHMENT 2
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Tonne COO | Officer | 40 | $146,334 |
Justine Boydston VP Of Operations | 40 | $108,359 | |
Nat Holt CFO | Officer | 40 | $35,000 |
Mitchell Allen President / CEO | OfficerTrustee | 40 | $15,400 |
Robert Olson Secretary | Trustee | 2 | $0 |
Mitch Gervis Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $321,240 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,240 |
| Total Program Service Revenue | $1,296,382 |
| Investment income | $7,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,674 |
| Net Gain/Loss on Asset Sales | $4,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,654,078 |
| 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. | $212,813 |
| Compensation of current officers, directors, key employees. | $61,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $584,431 |
| Pension plan accruals and contributions | $29,943 |
| Other employee benefits | -$575 |
| Payroll taxes | $59,674 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,167 |
| Fees for services: Accounting | $20,634 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,790 |
| Fees for services: Other | $65,897 |
| Advertising and promotion | $39,772 |
| Office expenses | $115,088 |
| Information technology | $41,131 |
| Royalties | $0 |
| Occupancy | $54,220 |
| Travel | $1,903 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,999 |
| Insurance | $7,278 |
| All other expenses | $0 |
| Total functional expenses | $1,340,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,178 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,050 |
| 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 | $9,401 |
| Net Land, buildings, and equipment | $748,979 |
| Investments—publicly traded securities | $955,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,976,853 |
| Accounts payable and accrued expenses | $132,240 |
| Grants payable | $0 |
| Deferred revenue | $78,267 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $158,894 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $644,351 |
| Total liabilities | $1,013,752 |
| Net assets without donor restrictions | $963,101 |
| Net assets with donor restrictions | $0 |
| 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 | $1,976,853 |