American Association Of Consumer Credit Professionals Inc
- Assets
- $616.0k
- Revenue
- $890.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- Data as of
- 12/2023
- EIN
- 84-1839113
Organization Overview
American Association Of Consumer Credit Professionals Inc is located in Washington, DC. According to its NTEE Classification (M23) the organization is classified as: Search & Rescue Squads, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Association Of Consumer Credit Professionals Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, American Association Of Consumer Credit Professionals Inc generated $890.0k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $627.6k during the year ending 12/2023. While expenses have increased by 6.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
TO ADVANCE ITS MEMBERS' COMMON BUSINESS INTEREST IN THE CONSUMER CREDIT INDUSTRY INCLUDING BY PROMOTING A SUSTAINABLE CREDIT REPAIR MARKETPLACE & FAIR CREDIT REPORTING SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP RESEARCH, EDUCATIONAL, AND ADVOCACY MATERIALS FOR LEGISLATORS, REGULATORS, THE MEMBERS, AND THE PUBLIC ON INDUSTRY SUBJECTS, INCLUDING BUT NOT LIMITED TO: (1) THE ESSENTIAL ROLE OF THE CONSUMER CREDIT REPAIR INDUSTRY IN THE FINANCIAL AND SOCIAL FABRIC OF AMERICA, (2) THE FINANCIAL AND SOCIAL IMPACT OF CREDIT SCORES AND ACCESS TO CREDIT (3) THE EFFECT ON THE CONSUMER CREDIT INDUSTRY AND ITS CUSTOMERS OF CURRENT AND PROPOSED POLICY POSITIONS, LAWS, REGULATIONS, AND RULES, (4) INDUSTRY BILLING AND FEE PRACTICES THAT ARE FAIR TO BOTH THE BUSINESSES THAT PROVIDE CONSUMER CREDIT REPAIR SERVICES AND THE CONSUMERS OF THOSE SERVICES; AND (5) THE INTEGRITY OF THE CONSUMER CREDIT INDUSTRY.
DEVELOP PUBLIC RELATIONS CONTENT AND MULTI-MEDIA PLATFORMS, INCLUDING INTERNET AND SOCIAL MEDIA PLATFORMS, TO CREATE EXPOSURE AND INCREASE SUPPORT FOR THE ORGANIZATION'S RESEARCH AND EDUCATION ACTIVITIES, ADVOCACY INITIATIVES, AND POSITIONS TO ADDRESS AND IMPROVE BUSINESS CONDITIONS IN THE CONSUMER CREDIT INDUSTRY.
ADVOCATE FOR THE MEMBERS' COMMON BUSINESS INTERESTS THROUGH ORAL AND WRITTEN LOBBYING AND NON-LOBBYING COMMUNICATIONS TO, AND MEETINGS WITH, LEGISLATORS, REGULATORS, OTHER POLICY MAKERS, AND THEIR RESPECTIVE REPRESENTATIVES REGARDING THE BUSINESS NEEDS AND INTERESTS OF THE CONSUMER CREDIT INDUSTRY. SUBMIT COMMENTS AND OTHER FEEDBACK TO THOSE PARTIES ON CURRENT AND FUTURE POLICY POSITIONS, LAWS, REGULATIONS, AND RULES. CREATE, UPDATE AND MAINTAIN STANDARDS OF CONDUCT FOR THE INDUSTRY. ENGAGE WITH MEMBER AND OTHERS IN THE INDUSTRY TO LEARN THEIR NEEDS AND EDUCATE THEM ON THE ORGANIZATION'S WORK. SUBMIT COMMENTS AND OTHER FEEDBACK TO THOSE PARTIES ON CURRENT AND FUTURE POLICY POSITIONS, LAWS, REGULATIONS, AND RULES, INCLUDING DEVELOPMENT OF BILL TEXT TO CORRECT A LOOPHOLE IN THE FEDERAL FAIR CREDIT REPORT ACT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director And Secretary/treasurer | OfficerTrustee | 10 | $0 |
Name Not Listed President | OfficerTrustee | 2 | $0 |
Name Not Listed Vice President | OfficerTrustee | 2 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Np Consulting Public Relations | 12/30/23 | $688,610 |
Association Management Strategies Inc Management Services | 12/30/23 | $220,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $888,880 |
| Investment income | $939 |
| 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 | $889,956 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $220,000 |
| Fees for services: Legal | $63,593 |
| Fees for services: Accounting | $4,510 |
| Fees for services: Lobbying | $202,217 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,329 |
| Advertising and promotion | $0 |
| Office expenses | $338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $793 |
| All other expenses | $0 |
| Total functional expenses | $627,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,000 |
| Savings and temporary cash investments | $363,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,500 |
| 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 | $1,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $615,981 |
| Accounts payable and accrued expenses | $20,406 |
| 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 | $0 |
| Total liabilities | $20,406 |
| Net assets without donor restrictions | $0 |
| 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 | $595,575 |
| Total liabilities and net assets/fund balances | $615,981 |