Creditguard Of America Inc
- Assets
- $3.3m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 83
- Location
- Fort Lauderdale, FL
- Founding
- 12/2017
- Data as of
- 12/2021
- EIN
- 65-0273573
Organization Overview
Creditguard Of America Inc is located in Fort Lauderdale, FL. The organization was established in 2017. 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, Creditguard Of America Inc employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creditguard Of America 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, Creditguard Of America Inc generated $7.1m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $7.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREDIT COUNSELING AND DEBT MANAGEMENT ALONG WITH FREE FINANCIAL EDUCATION TO CONSUMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDIT COUNSELING AND DEBT MANAGEMENT ALONG WITH FREE FINANCIAL EDUCATION TO CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shon Lees Officers | Officer | 50 | $352,307 |
Roger Costa Officers/dir | Officer | 50 | $120,223 |
Juan Valladares Officers | Officer | 50 | $114,534 |
Jonelle Lees Accounting | 40 | $103,120 | |
Dan Ducharme Director | Trustee | 5 | $0 |
Tim Hill Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,933,607 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,933,607 |
| Total Program Service Revenue | $5,168,447 |
| 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 | $7,102,054 |
| 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. | $587,064 |
| Compensation of current officers, directors, key employees. | $120,223 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,334,700 |
| Pension plan accruals and contributions | $56,766 |
| Other employee benefits | $36,537 |
| Payroll taxes | $200,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,440,416 |
| Office expenses | $74,681 |
| Information technology | $188,006 |
| Royalties | $0 |
| Occupancy | $861,127 |
| Travel | $396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,049 |
| Insurance | $73,290 |
| All other expenses | $352,439 |
| Total functional expenses | $6,957,868 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,888,596 |
| 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 | $8,708 |
| Net Land, buildings, and equipment | $388,392 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,248 |
| Total assets | $3,308,944 |
| Accounts payable and accrued expenses | $198,709 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $557,782 |
| 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 | $374,367 |
| Total liabilities | $1,130,858 |
| Net assets without donor restrictions | $2,178,086 |
| 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 | $3,308,944 |
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 |