Consumer Credit And Budget Counseling Inc
- Assets
- $753.2k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 25
- Location
- Marmora, NJ
- Founding
- 06/1998
- Data as of
- 12/2022
- EIN
- 22-3569885
Organization Overview
Consumer Credit And Budget Counseling Inc, operating under the name National Foundation For Debt Management, is located in Marmora, NJ. 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. As of 12/2022, National Foundation For Debt Management employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Foundation For Debt Management 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, National Foundation For Debt Management generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.2%) per year over the past 5 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
ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES. CCBC'S MISSION IS TO BUILD FINANCIAL WELLNESS THROUGH EDUCATION. IT IS THE POLICY OF CCBC AND ITS STAFF TO PROVIDE MEANINGFUL PERSONAL FINANCIAL EDUCATION AND COUNSELING THAT MEETS OR EXCEEDS CUSTOMER REQUIREMENTS AND TO ENHANCE MEASURABLY, THROUGH OUTREACH ACTIVITY, THE ECONOMIC WELLNESS OF COMMUNITIES SERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS TO CARRYOUT EDUCATIONAL AND CONFIDENTIAL COUNSELING TO INDIVIDUALS AND FAMILIES WITH SERIOUS MONEY PROBLEMS,INCLUDING DEBT MANAGEMENT PLANS AND HOUSING COUNSELING TO EDUCATE THE HOMEOWNER PRIOR TO ENTERING FORECLOSURE, DURING, AND/OR SUBMITTING A REVERSE MORTGAGE LOAN APPLICATION. CCBC STAFF IS EXTENSIVELY TRAINED AND CERTIFIED FOR EACH PROGRAM DELIVERED AND CCBC INTERNAL REQUIREMENTS OFTEN EXCEED HUD PROTOCOL FOR PROGRAM DELIVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Stewart Board Member | Trustee | 5 | $500 |
Michael Wetmore Board Member | Trustee | 5 | $500 |
Charles Benjamin Board Member | Trustee | 5 | $500 |
Brian Downie Board Member | Trustee | 5 | $500 |
Shelly Hamm Board Member | Trustee | 5 | $500 |
Russell E Graves Executive Director | Officer | 40 | $115,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alpha Staffing & Employee Leasing Inc Client Support | 12/30/22 | $241,580 |
Debtcom Llc Public Outreach | 12/30/22 | $208,780 |
Venturetech Solutions Llc Technology Services | 12/30/22 | $118,520 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $310,878 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $310,878 |
| Total Program Service Revenue | $2,136,673 |
| Investment income | $0 |
| 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 | $2,447,551 |
| 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. | $241,400 |
| Compensation of current officers, directors, key employees. | $24,140 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $735,117 |
| Pension plan accruals and contributions | $20,794 |
| Other employee benefits | $116,275 |
| Payroll taxes | $101,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,616 |
| Advertising and promotion | $220,144 |
| Office expenses | $23,866 |
| Information technology | $103,863 |
| Royalties | $0 |
| Occupancy | $91,497 |
| Travel | $22,607 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $44,072 |
| All other expenses | $106,704 |
| Total functional expenses | $2,504,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,966 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $178,897 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $144,320 |
| Total assets | $753,183 |
| Accounts payable and accrued expenses | $141,168 |
| Grants payable | $0 |
| Deferred revenue | $125,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $133,545 |
| 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 | $164,929 |
| Total liabilities | $564,642 |
| Net assets without donor restrictions | $188,541 |
| 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 | $753,183 |