Credit Card Management Services Inc
- Assets
- $6.4m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 44
- Location
- West Palm Beach, FL
- Founding
- 02/1997
- Data as of
- 12/2023
- EIN
- 31-1483386
Organization Overview
Credit Card Management Services Inc is located in West Palm Beach, FL. The organization was established in 1997. 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 12/2023, Credit Card Management Services Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Credit Card Management Services 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 12/2023, Credit Card Management Services Inc generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LMI; CREDIT COUNSELING, BUDGET AND DEBT MANAGEMENT; COMPREHENSIVE HUD APPROVED HOUSING COUNSELING AND EOUST CREDIT COUNSELING AND DEBTOR EDUCATION PRIOR TO CONSUMER BANKRUPTCY. TO PARTNER IN AFFORDABLE HOUSING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPREHENSIVE HOUSING COUNSELING AND EDUCATION; 8,753 SERVED. CCMS PROVIDES HUD APPROVED HOUSING COUNSELING. HOME BUYERS EDUCATION, REVERSE MORTGAGE COUNSELING FOR SENIORS LOOKING TO CONVERT THEIR HOME EQUITY TO CASH; AND FINANCIAL LITERACY GROUP EDUCATION. DEBTHELPER PROVIDES SAFE DECENT AFFORDABLE HOUSING AS A PARTNER WITH THE NCST PROGRAM. DEBTHELPER RENTS 11 AFFORDABLE HOMES PRIMARILY TO LOW TO MODERATE INCOME FAMILIES. ESTIMATED 250 VOLUNTEER HOURS. DEBTHELPER PARTNERS WITH 850 AGENCIES TO DELIVER QUALITY COUNSELING.
FINANCIAL LITERACY 23,979 SERVED. APPROVED TO ISSUE DEBT MANAGEMENT PLANS IN NEARLY ALL 50 STATES. LICENSED BONDED AND INSURED. CONSUMERS LOOKING FOR RELIEF PAYING BACK THEIR CREDIT CARDS ARE PROVIDED ASSISTANCE WITH INTEREST RATES AND REPAYMENT TERMS WHILE ON A DEBT MANAGEMENT PLAN. PLANS USUALLY TAKE ABOUT FOUR YEARS TO REPAY AND GENERALLY PAY LESS INTEREST AND MORE TOWARD THE PRINCIPAL OF THE AMOUNT OWED. CONSUMERS LOOK TO IMPROVE THEIR PERSONAL FINANCIAL CONDITION, IMPROVE CREDIT KNOWLEDGE, INCREASE ASSET BUILDING AND AVOID PERSONAL BANKRUPTCY.
CREDIT COUNSELING AND DEBTOR EDUCATION EOUST BANKRUPTCY PROGRAM; 24,472 SERVED. APPROVED TO ISSUE CERTIFICATES OF COMPLETION OF CREDIT COUNSELING OR DEBTOR EDUCATION IN COMPLIANCE WITH THE BANKRUPTCY CODE. APPROVAL DOES NOT ENDORSE OR GUARANTEE OR ASSURE THE QUALITY OF THE PROVIDER'S SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Paul Donohue Jr President | OfficerTrustee | 50 | $234,000 |
Rajesh Bhavsar It Director | 50 | $171,600 | |
Mohan Lalwani Program Manager | 50 | $139,360 | |
Ann-Marie Drapeau Operations Manager | 50 | $127,770 | |
Dr Kurt Stahura Director | Trustee | 1 | $0 |
Mr James H Sutch Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $398,984 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,856 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,840 |
| Total Program Service Revenue | $2,866,917 |
| Investment income | $28,716 |
| 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 | $3,414,473 |
| 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. | $234,000 |
| Compensation of current officers, directors, key employees. | $85,847 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,411,052 |
| Pension plan accruals and contributions | $39,023 |
| Other employee benefits | $146,984 |
| Payroll taxes | $127,034 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,143 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,078 |
| Advertising and promotion | $277,770 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,728 |
| Travel | $22,962 |
| 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 | $3,809 |
| Insurance | $29,451 |
| All other expenses | $82,175 |
| Total functional expenses | $3,305,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,425 |
| Savings and temporary cash investments | $2,304,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $291,984 |
| 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 | $12,924 |
| Net Land, buildings, and equipment | $1,952,813 |
| Investments—publicly traded securities | $731,025 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $807,635 |
| Total assets | $6,356,815 |
| Accounts payable and accrued expenses | $288,807 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $687,606 |
| Total liabilities | $976,413 |
| Net assets without donor restrictions | $5,380,402 |
| 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 | $6,356,815 |