Association Of Independent Consumer Credit Counseling Agencies Inc
- Assets
- $470.7k
- Revenue
- $257.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Boca Raton, FL
- Founding
- 09/1998
- Data as of
- 12/2021
- EIN
- 22-3226765
Organization Overview
Association Of Independent Consumer Credit Counseling Agencies Inc, operating under the name Financial Counseling Association Of America (fcaa), is located in Boca Raton, FL. The organization was established in 1998. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Counseling Association Of America (fcaa) 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 12/2021, Financial Counseling Association Of America (fcaa) generated $257.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $167.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH-VALUE SERVICES DESIGNED TO ESTABLISH EQUILIBRIUM BETWEEN CONSUMERS, CREDITORS, AND MEMBER AGENCIES FOR THE SUCCESSFUL REHABILITATION OF DEBT-CHALLENGED FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES - THE ASSOCIATION INFORMS ITS MEMBERS ABOUT STATE AND FEDERAL LEGISLATION, CHAMPIONS CONSUMER FINANCIAL EDUCATION, SUPPORTS INDUSTRY ISSUES AND INITIATIVES THROUGH THE MEDIA, AND STRIVES FOR THE MAINTENANCE OF CONTINUED POSITIVE RELATIONSHIPS BETWEEN CREDITORS AND THE CREDIT COUNSELING INDUSTRY. ADDITIONAL MEMBER SERVICES - THE ASSOCIATION PROVIDES INFORMED LEADERSHIP, ADVOCACY, AND VALUE-ADDED SERVICES TO ITS MEMBERS BY COLLECTING DATA ON MEMBER NEEDS, MEASURING MEMBER SATISFACTION, AND CONTINUOUSLY STRIVING TO IMPROVE THE ASSOCIATION'S EFFECTIVENESS. IN ADDITION, THE ASSOCIATION MAINTAINS A WEBSITE THAT PROVIDES INFORMATIONAL AND EDUCATIONAL RESOURCES FOR MEMBERS AND CONSUMERS IN GENERAL.
ANNUAL CONFERENCE - THE ASSOCIATION OFFERS EDUCATIONAL CONFERENCES FOR MEMBERS TO SHARE INFORMATION AND TO OBTAIN THE LATEST UPDATES FROM INDUSTRY EXPERTS ON CREDIT COUNSELING METHODS AND PRACTICES. SESSIONS ARE CONDUCTED FOR INDIVIDUALS AT ALL LEVELS OF THEIR ORGANIZATION AND ON MANY VARIED RELEVANT TOPICS. IN ADDITION, COUNSELORS IN ATTENDANCE AT THE CONFERENCE ARE ELIGIBLE TO RECEIVE CONTINUING EDUCATION CREDITS FROM THEIR THIRD PARTY CERTIFICATION PROVIDERS.
STUDENT LOAN TRAINING - THE ASSOCIATION'S COMPREHENSIVE STUDENT LOAN TRAINING PROGRAM PROVIDES FINANCIAL COUNSELING PROFESSIONALS WITH THE TOOLS NEEDED TO HELP BORROWERS UNDERSTAND AND NAVIGATE THE MANY COMPLEX FEDERAL STUDENT LOAN PROGRAMS. THIS PROGRAM IS A COMBINATION OF SELF STUDY VIA ON-LINE COURSE AS WELL AS INTERACTION WITH AN INSTRUCTOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Pollack Executive Director | Officer | 40 | $105,200 |
Martin Lynch Trustee Until 11/2021, Then President | OfficerTrustee | 15 | $0 |
Judith Sorensen President Until 11/2021, And Co-Chair | OfficerTrustee | 15 | $0 |
Christopher Viale Vice Pres. And Co-Chair | OfficerTrustee | 15 | $0 |
Hilton Sher Treasurer | OfficerTrustee | 5 | $0 |
Russell Graves Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,665 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,037 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,702 |
| Total Program Service Revenue | $205,423 |
| Investment income | $98 |
| 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 | $257,336 |
| 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. | $111,274 |
| Compensation of current officers, directors, key employees. | $33,382 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,047 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,592 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,141 |
| Office expenses | $7,680 |
| Information technology | $5,455 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $832 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,855 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,459 |
| All other expenses | $0 |
| Total functional expenses | $167,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,191 |
| Savings and temporary cash investments | $150,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,222 |
| 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 | $2,969 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $470,696 |
| Accounts payable and accrued expenses | $37,335 |
| Grants payable | $0 |
| Deferred revenue | $11,750 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,085 |
| Net assets without donor restrictions | $421,611 |
| 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 | $470,696 |
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