Consumer Debt Counselors Inc
- Assets
- $1.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 17
- Location
- Winter Park, FL
- Founding
- 05/1999
- Data as of
- 09/2021
- EIN
- 59-3548266
Organization Overview
Consumer Debt Counselors Inc is located in Winter Park, FL. The organization was established in 1999. 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 09/2021, Consumer Debt Counselors Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consumer Debt Counselors 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 09/2021, Consumer Debt Counselors Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $1.4m during the year ending 09/2021. 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
FINANCIAL CRISIS COUNSELING AND FINANCIAL LITERACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS AN ACCREDITED MEMBER OF THE NATIONAL FOUNDATION FOR CREDIT COUNSELING (NFCC), CONSUMER DEBT COUNSELORS PROVIDES FINANCIAL COUNSELING AND EDUCATION TO THOUSANDS OF CONSUMERS EACH YEAR IN PERSON, OVER THE PHONE OR ONLINE.DURING FY 2020, CONSUMER DEBT COUNSELORS PROVIDED COUNSELING TO 2,155 CLIENTS. THIS PROCESS INCLUDES WORKING WITH CLIENTS TO ASSESS THEIR FINANCIAL SITUATION, DEVELOP A BUDGET, SET FINANCIAL GOALS AND CREATE AN ACTION PLAN.SOME OF THESE CLIENTS WHO RECEIVE COUNSELING ADDITIONALLY CHOOSE TO ENROLL IN A DEBT MANAGEMENT PROGRAM (DMP), WHICH PROVIDES SYSTEMATIC REPAYMENT OF CERTAIN DEBTS. THERE WAS AN INCREASE IN INDIVIDUALS WHO ENROLLED IN THIS PROGRAM.ADDITIONALLY, SOME CLIENTS WHO RECEIVED COUNSELING ADDITIONALLY WORKED WITH CONSUMER DEBT COUNSELORS TO IDENTIFY AND IMPLEMENT THEIR QUALIFIED SOLUTIONS TO DEAL WITH THEIR STUDENT LOAN DEBT. DURING FY 2020, CONSUMER DEBT COUNSELORS PROVIDED CONSELING TO 28 OF THESE CLIENTS.FINALLY, MANY CLIENTS CALL WITH SIMPLE REQUESTS FOR INFORMATION OR TO OBTAIN REFERRALS TO OTHER QUALIFIED AGENCIES THAT CAN BETTER ASSIST THEM.
SINCE 2012, CONSUMER DEBT COUNSELORS HAS MET HUD'S STRICT REQUIREMENTS TO BE A HUD-CERTIFIED AGENCY IN THE STATE OF FLORIDA. OUR HOUSING COUNSELORS WORK WITH INDIVIDUALS AND FAMILIES TO ASSIST THEM WITH A VARIETY OF HOUSING CHALLENGES, FROM PRE-PURCHASE COUNSELING TO MORTGAGE MODIFICATION AND FORECLOSURE EDUCATION/ASSISTANCE.ANOTHER MAJOR HOUSING FOCUS IS FORECLOSURE PREVENTION COUNSELING. OUR COUNSELORS WORK WITH BOTH THE CLIENT AND THE MORTGAGE COMPANY TO HELP THE CLIENT REMAIN IN HIS OR HER HOME AND TO AVOID BOTH THE COST AND DAMAGE TO THEIR CREDIT RATING ASSOCIATED WITH FORECLOSURE.
CONSUMER DEBT COUNSELORS SEEKS TO BE A TRUSTED AND RESPECTED VOICE FOR CONSUMER FINANCIAL EDUCATION AND FINANCIAL PROBLEM RESOLUTION IN THE COMMUNITIES THAT WE SERVE. AS PART OF THIS, ANOTHER MAJOR FOCUS FOR THE AGENCY IS COMMUNITY OUTREACH.DURING FY 2020 CONSUMER DEBT COUNSELORS CONDUCTED WORKSHOPS FOR THE PUBLIC IN THE FOLLOWING AREAS:- FINANCIAL EDUCATION WORKSHOPS: 14- HOUSING WORKSHOPS: 18
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James H Sullivan CPA Mas Csa Afc Treasurer/trustee | OfficerTrustee | 0.5 | $0 |
George Janas CLU CHFC Ficf President | OfficerTrustee | 40 | $0 |
Jay Gewolb MD Secretary/trustee | OfficerTrustee | 0.5 | $0 |
Layne Hall Trustee | Trustee | 0.5 | $0 |
Kerri Vaughn Trustee | Trustee | 0.5 | $0 |
Shirley Q Range Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,818 |
| All other contributions, gifts, grants, and similar amounts not included above | $97,054 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $305,872 |
| Total Program Service Revenue | $1,487,497 |
| 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 | $1,793,369 |
| 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. | $16,645 |
| Compensation of current officers, directors, key employees. | $8,322 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $783,654 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $81,911 |
| Payroll taxes | $0 |
| 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 | $111,034 |
| Advertising and promotion | $6,169 |
| Office expenses | $15,687 |
| Information technology | $119,993 |
| Royalties | $0 |
| Occupancy | $84,000 |
| Travel | $12,243 |
| 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 | $54,155 |
| Insurance | $20,979 |
| All other expenses | $13,936 |
| Total functional expenses | $1,423,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,617 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $4,224 |
| Net Land, buildings, and equipment | $5,738 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $87,486 |
| Other assets | $1,382,154 |
| Total assets | $1,532,219 |
| Accounts payable and accrued expenses | $29,016 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $47,662 |
| 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 | $110,000 |
| Total liabilities | $186,678 |
| Net assets without donor restrictions | $1,345,541 |
| 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 | $1,532,219 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Consumer Debt Counselors Inc has recieved totaling $218,027.
| Awarding Organization | Amount |
|---|---|
Consumer Credit Counseling Service Of Maryland And Delaware Inc Columbia, MD PURPOSE: COMPREHENSIVE HOUSING | $125,985 |
National Foundation For Credit Counseling Inc Washington, DC PURPOSE: FINANCIAL EDUCATION SUPPORT | $92,042 |
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 |