Incharge Debt Solutions Inc
- Assets
- $11.1m
- Revenue
- $18.4m
- Investments
- $909.8k
- Employees
- 99
- Location
- Orlando, FL
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 33-0770440
Organization Overview
Incharge Debt Solutions Inc is located in Orlando, 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. As of 12/2021, Incharge Debt Solutions Inc employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Incharge Debt Solutions 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 12/2021, Incharge Debt Solutions Inc generated $18.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $14.4m during the year ending 12/2021. 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
INCHARGE DEBT SOLUTIONS (IDS) PROVIDES CREDIT, BANKRUPTCY, AND HOUSING SERVICES TO THE GENERAL PUBLIC. THESE SERVICES INCLUDE EDUCATIONAL MATERIALS AND RESOURCES, SOLUTIONS-BASED COUNSELING, CLIENT DEBT MANAGEMENT PROGRAMS, BANKRUPTCY CREDIT COUNSELING AND PRE-DISCHARGE DEBTOR EDUCATION SERVICES, FORECLOSURE PREVENTION, HOMEBUYER EDUCATION, PRE-PURCHASING HOUSING COUNSELING, AND OTHER FINANCIAL LITERACY ACTIVITIES FOR THE BENEFIT OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT COUNSELING AND EDUCATION - THIS PROGRAM ASSISTS CONSUMERS IN MANAGING THEIR PERSONAL FINANCES THROUGH THE PROVISION OF SOLUTIONS-BASED CREDIT COUNSELING, BUDGET PLANNING AND FINANCIAL EDUCATIONAL MATERIALS. SOLUTIONS-BASED COUNSELING IS DESIGNED TO FIND THE RIGHT SOLUTION FOR EACH DEBT DISTRESSED CONSUMER. OVER 30,000 FINANCIALLY DISTRESSED INDIVIDUALS RECEIVED CREDIT COUNSELING, AND FINANCIAL EDUCATIONAL MATERIALS DURING 2021. FINANCIAL EDUCATIONAL MATERIALS ASSIST CONSUMERS IN ACQUIRING AND IMPROVING MONEY MANAGEMENT SKILLS AND MANAGING CREDIT. CREDIT COUNSELING SERVICES ARE OFFERED IN PERSON FOR INDIVIDUALS RESIDING IN THE CENTRAL FLORIDA AREA, AND NATIONALLY OVER THE TELEPHONE AND THROUGH THE INTERNET.
DEBT MANAGEMENT - IDS OFFERS DEBT MANAGEMENT PROGRAMS TO ASSIST CONSUMERS IN PAYING OFF THEIR UNSECURED DEBTS AND TO BETTER MANAGE THEIR FINANCIAL OBLIGATIONS IN THE FUTURE. IDS PROCESSES DEBT PAYMENTS, ATTEMPTS TO SECURE A REDUCTION IN INTEREST RATES, AND ATTEMPTS TO ESTABLISH AFFORDABLE MONTHLY PAYMENTS ON THE CLIENTS' BEHALF. CLIENTS ARE PROVIDED INITIAL AND CONTINUING EDUCATIONAL ASSISTANCE THROUGH FINANCIAL EDUCATIONAL MATERIALS AND GUIDANCE IN FINANCIAL MATTERS AS DETERMINED BY THEIR NEEDS.
BANKRUPTCY COUNSELING AND DEBTOR EDUCATION - BANKRUPTCY LEGISLATION ENACTED BY CONGRESS IN 2005 REQUIRES INDIVIDUALS FILING FOR BANKRUPTCY TO COMPLETE A BANKRUPTCY CREDIT COUNSELING SESSION PRIOR TO FILING, AND AN INSTRUCTIONAL COURSE IN PERSONAL FINANCIAL MANAGEMENT (DEBTOR EDUCATION) PRIOR TO RECEIVING A BANKRUPTCY DISCHARGE. TO OFFER CONVENIENT, ON-DEMAND ACCESS TO THIS REQUIRED CONTENT, IDS PROVIDES INTERACTIVE WEB-BASED AND TELEPHONIC BANKRUPTCY CREDIT COUNSELING AND WEB-BASED DEBTOR EDUCATION PROGRAMS. BOTH PROGRAMS ISSUE CERTIFICATES TO INDIVIDUALS WHO COMPLETE EACH PROGRAM AS REQUIRED BY THE TITLE 11 BANKRUPTCY CODE. DURING 2021, APPROXIMATELY 7,900 CERTIFICATES WERE ISSUED TO BANKRUPTCY PETITIONERS EVIDENCING THEIR SUCCESSFUL COMPLETION OF THE BANKRUPTCY CREDIT COUNSELING SESSION AND THE PERSONAL FINANCIAL MANAGEMENT COURSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Etta W Money President & CEO | Officer | 46 | $417,910 |
William Malseed Secretary/treasurer | Officer | 41 | $269,520 |
Soraia Dearaujo V.P. Of Operations | Officer | 44 | $233,172 |
Shawn Walsh Sr. Dir. Of Business Dev. | 34 | $116,855 | |
Karen Carlson Sr. Dir. Of Educ/dig Mkt | Officer | 34 | $0 |
Sally Ericksen Sr. Dir. Of It | Officer | 45 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Knucklepuck Holding Llc Consultants | 12/30/21 | $174,000 |
Google Public Service Announcements | 12/30/21 | $1,776,303 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,523,367 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,486,652 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,010,019 |
| Total Program Service Revenue | $10,315,386 |
| Investment income | $45,390 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,359,238 |
| 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. | $1,223,865 |
| Compensation of current officers, directors, key employees. | $133,435 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,249,143 |
| Pension plan accruals and contributions | $147,344 |
| Other employee benefits | $522,576 |
| Payroll taxes | $312,237 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,799 |
| Fees for services: Accounting | $50,554 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,761 |
| Advertising and promotion | $0 |
| Office expenses | $10,989 |
| Information technology | $71,247 |
| Royalties | $0 |
| Occupancy | $133,500 |
| Travel | $843 |
| 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 | $4,472,898 |
| Depreciation, depletion, and amortization | $12,854 |
| Insurance | $11,947 |
| All other expenses | $42,280 |
| Total functional expenses | $14,381,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,812,334 |
| Savings and temporary cash investments | $105,816 |
| Pledges and grants receivable | $61,582 |
| Accounts receivable, net | $49,798 |
| 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 | $58,073 |
| Net Land, buildings, and equipment | $611,958 |
| Investments—publicly traded securities | $6,464,911 |
| Investments—other securities | $909,783 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,012,968 |
| Total assets | $11,087,223 |
| Accounts payable and accrued expenses | $878,264 |
| Grants payable | $0 |
| Deferred revenue | $208,625 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $227,254 |
| 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 | $785,714 |
| Total liabilities | $2,099,857 |
| Net assets without donor restrictions | $8,087,366 |
| Net assets with donor restrictions | $900,000 |
| 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 | $11,087,223 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Incharge Debt Solutions Inc has recieved totaling $163,642.
| Awarding Organization | Amount |
|---|---|
National Foundation For Credit Counseling Inc Washington, DC PURPOSE: FINANCIAL EDUCATION SUPPORT | $163,590 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $52 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Incharge Debt Solutions Inc Orlando, FL | $11,087,223 | $18,359,238 |
Freedom Rain Inc Birmingham, AL | $1,488,299 | $8,388,398 |
Creditguard Of America Inc Fort Lauderdale, FL | $3,308,944 | $7,102,054 |
Incharge Education Foundation Inc Orlando, FL | $6,605,610 | $4,105,406 |
Credit Card Management Services Inc West Palm Beach, FL | $6,354,828 | $4,043,282 |
Debt Management Credit Counseling Corp Deerfield Beach, FL | $2,036,555 | $1,940,140 |
Real Estate Education And Communityhousing Inc Palm Beach Gardens, FL | $2,680,215 | $1,438,929 |
Consumer Debt Counselors Inc Winter Park, FL | $1,532,219 | $1,793,369 |
Compass Finances God S Way Inc Lake Mary, FL | $1,558,933 | $1,806,509 |
Incharge Institute Of America Inc Orlando, FL | $3,848,389 | $1,124,873 |
Alma Financial Assistance Corp Deerfield Beach, FL | $648,458 | $950,327 |
D&e A Financial Education And Training Institute Inc East Point, GA | $953,735 | $847,505 |