Consumer Credit Of Des Moines
- Assets
- $2.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 17
- Location
- Des Moines, IA
- Founding
- 04/1997
- Data as of
- 12/2021
- EIN
- 42-1301505
Organization Overview
Consumer Credit Of Des Moines is located in Des Moines, IA. 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 12/2021, Consumer Credit Of Des Moines employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consumer Credit Of Des Moines 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, Consumer Credit Of Des Moines generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $1.4m 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
ASSIST AND EDUCATE CLIENTS IN DEVELOPING PLANS TO REPAY & REDUCE EXCESSIVE PERSONAL INDEBTEDNESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES ASSISTANCE TO CONSUMERS SEEKING CREDIT COUNSELING, BUDGET AND FINANCIAL ADVICE, AND OFFERS A DEBT MANAGEMENT PROGRAM WHERE APPROPRIATE. THE ORGANIZATION FOLLOWS THE REQUIRED CRITERIA FOR EXEMPTION UNDER INTERNAL REVENUE CODE SECTION 501(Q). DURING 2021, THE ORGANIZATION PROVIDED FREE BUDGET AND CREDIT COUNSELING TO OVER TWO THOUSAND INDIVIDUALS AND FAMILIES WITH APPROXIMATELY 400 ELECTING TO ENTER INTO A DEBT MANAGEMENT PLAN AGREEMENT WITH THE ORGANIZATION. DURING 2021, 678 INDIVIDUALS SUCCESSFULLY COMPLETED THEIR DEBT MANAGEMENT PLANS ADMINISTERED BY THE ORGANIZATION, PAYING OFF ALL THEIR UNSECURED DEBTS IN FULL.
THE ORGANIZATION PROVIDES PRE-BANKRUPTCY COUNSELING TO INDIVIDUAL PARTICIPATING IN THE UNITED STATES TRUSTEE'S PROGRAM.THE ORGANIZATION IS AN APPROVED NONPROFIT BUDGET AND CREDIT COUNSELING AGENCY, HAVING RECEIVED ITS INITIAL APPROVAL AS SUCH FROM THE U.S. DEPARTMENT OF JUSTICE, EXECUTIVE OFFICE FOR UNITED STATES TRUSTEES, IN 2006. IN 2021, THE ORGANIZATION CONDUCTED 141 PRE-BANKRUPTCY COUNSELING SESSIONS, AND THE ORGANIZATION WAIVED OR REDUCED THE ALLOWABLE STATUTORY FEES FOR PRE-BANKRUPTCY COUNSELING IN 57% OF ALL CASES DUE TO CLIENT'S LIMITED RESOURCES OR FINANCIAL HARDSHIP.THE ORGANIZATION ALSO PROVIDES POST-BANKRUPTCY DEBTOR EDUCATION.
THE ORGANIZATION PRESENTS FREE EDUCATIONAL SEMINARS CONCERNING CREDIT COUNSELING, BUDGETING AND FINANCIAL PLANNING TO THE GENERAL PUBLIC THROUGHOUT THE YEAR.THE ORGANIZATION CONTINUED ITS LONG HISTORY OF PROVIDING FREE EDUCATION PROGRAMS TO THE GENERAL PUBLIC DURING 2021. THE ORGANIZATION CONDUCTED IN-PERSON PRESENTATIONS ON VARIOUS CONSUMER CREDIT, BUDGETING AND PERSONAL FINANCE SUBJECTS TO NUMEROUS GROUPS.IN ADDITION, THE ORGANIZATION MAINTAINS A VAST ELECTRONIC EDUCATION LIBRARY ON ITS WEBSITE, WHERE INDIVIDUALS CAN ACCESS INFORMATIONAL MATERIALS COVERING TOPICS ADDRESSING PERSONAL FINANCE AND FINANCIAL LITERACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Coates President | OfficerTrustee | 40 | $156,324 |
Katie Ochanpaugh Treasurer | OfficerTrustee | 32 | $57,713 |
Lee Ann Coates Secretary | OfficerTrustee | 5 | $17,495 |
Richard Piatt Director | Trustee | 1 | $886 |
David Shelledy Chairman | Trustee | 1 | $0 |
Rea Roe Director | Trustee | 1 | $0 |
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 | $282,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,175 |
| Total Program Service Revenue | $1,091,524 |
| Investment income | $8,877 |
| 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 | $1,382,576 |
| 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. | $280,599 |
| Compensation of current officers, directors, key employees. | $103,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $482,409 |
| Pension plan accruals and contributions | $15,820 |
| Other employee benefits | $53,716 |
| Payroll taxes | $49,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,932 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $88,435 |
| Office expenses | $73,223 |
| Information technology | $47,499 |
| Royalties | $0 |
| Occupancy | $124,706 |
| Travel | $7,208 |
| 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 | $3,542 |
| Insurance | $22,426 |
| All other expenses | $29,115 |
| Total functional expenses | $1,376,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,849,112 |
| Savings and temporary cash investments | $236,409 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,320 |
| 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 | $19,999 |
| Net Land, buildings, and equipment | $12,039 |
| Investments—publicly traded securities | $155,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,361,855 |
| Accounts payable and accrued expenses | $30,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $236,409 |
| 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 | $266,839 |
| Net assets without donor restrictions | $2,095,016 |
| 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 | $2,361,855 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Consumer Credit Of Des Moines has recieved totaling $16,500.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Empowerment Center Omaha, NE | $3,751,095 | $11,872,061 |
North Iowa Community Action Organization Mason City, IA | $4,791,194 | $9,251,857 |
Family Credit Counseling Service Inc Chicago, IL | $9,585,248 | $7,733,487 |
Familymeans Stillwater, MN | $14,787,567 | $4,858,760 |
Northwest Side Housing Center Chicago, IL | $2,986,371 | $4,446,523 |
Prepare And Prosper St Paul, MN | $2,509,288 | $2,156,071 |
Consumer Credit Of Des Moines Des Moines, IA | $2,361,855 | $1,382,576 |
Securefutures Foundation Inc Milwaukee, WI | $1,756,343 | $1,837,399 |
Credit Advisors Foundation Omaha, NE | $5,047,344 | $1,612,156 |
Moneythink Chicago, IL | $2,812,630 | $2,607,050 |
Allen Credit & Debt Counseling Agency Wolsey, SD | $408,689 | $1,340,879 |
Black Hills Childrens Ranch Inc Rapid City, SD | $795,827 | $1,321,713 |