Skip to content
Nonprofiteer
← INCHARGE FINANCIAL SOLUTIONS

Form 990 for tax year 2023

Filed by INCHARGE FINANCIAL SOLUTIONS.

Totals

Total revenue
$14,313,613
Total expenses
$15,787,525
Contributions and grants received
$5,389,522
Grants paid
$0
Program service revenue
$8,863,338
Investment income
$58,245
Other revenue
$2,508
Total assets, end of year
$8,338,382
Total liabilities, end of year
$2,230,656
Net assets or fund balances, end of year
$6,107,726
Program services expenses (Part IX)
$14,684,406
Management and general expenses
$1,065,820
Fundraising expenses
$37,299
Program service expenses (Part III)
$14,684,406

Program services were 93.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $5,389,522

  • 2a · Program service revenue: CLIENT PROCESSING FEES

    total $8,059,938 · related or exempt $8,059,938

  • 2b · Program service revenue: HOUSING COUNSELING FEES

    total $658,011 · related or exempt $658,011

  • 2c · Program service revenue: BANKRUPTCY COUNSEL. & DEBTOR ED.

    total $134,539 · related or exempt $134,539

  • 2d · Program service revenue: EDUCATION FEE

    total $10,850 · related or exempt $10,850

  • 3 · Investment income

    total $223,271 · excluded $223,271

  • 7a · Gross sales of assets other than inventory

    securities $8,712,070

  • 7b · Less cost or other basis and sales expenses

    securities $8,866,243 · other assets $10,853

  • 7c · Gain or loss

    securities -$154,173 · other assets -$10,853

  • 7d · Net gain or loss

    total -$165,026 · excluded -$165,026

  • 11a · Other revenue: MISC. INCOME

    total $2,508 · excluded $2,508

  • 11e · Other revenue, total

    $2,508

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,326,414 · program services $1,194,774 · management and general $127,158 · fundraising $4,482

  • 7 · Other salaries and wages

    total $3,287,205 · program services $2,958,708 · management and general $317,305 · fundraising $11,192

  • 8 · Pension plan contributions

    total $100,720 · program services $90,582 · management and general $9,796 · fundraising $342

  • 9 · Other employee benefits

    total $509,571 · program services $458,284 · management and general $49,553 · fundraising $1,734

  • 10 · Payroll taxes

    total $347,387 · program services $312,636 · management and general $33,568 · fundraising $1,183

  • 11b · Fees: legal

    total $8,348 · management and general $8,348

  • 11c · Fees: accounting

    total $56,219 · program services $43,167 · management and general $13,052

  • 11g · Fees: other

    total $146,944 · program services $146,190 · fundraising $754

  • 13 · Office expenses

    total $8,609 · program services $7,747 · management and general $832 · fundraising $30

  • 14 · Information technology

    total $96,339 · program services $86,701 · management and general $9,310 · fundraising $328

  • 16 · Occupancy

    total $225,960 · program services $203,356 · management and general $21,835 · fundraising $769

  • 17 · Travel

    total $31,536 · program services $28,381 · management and general $3,048 · fundraising $107

  • 21 · Payments to affiliates

    total $4,966,432 · program services $4,520,065 · management and general $441,989 · fundraising $4,378

  • 22 · Depreciation, depletion and amortization

    total $24,568 · program services $22,110 · management and general $2,374 · fundraising $84

  • 23 · Insurance

    total $67 · program services $60 · management and general $7

  • 24a · Other expenses: EDUC. SERV. & MATERIALS

    total $2,903,281 · program services $2,892,340 · fundraising $10,941

  • 24b · Other expenses: PUBLIC AWARENESS

    total $1,461,811 · program services $1,461,811

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $94,668 · program services $85,198 · management and general $9,148 · fundraising $322

  • 24d · Other expenses: TRAINING AND DEVELOPMEN

    total $78,002 · program services $70,200 · management and general $7,536 · fundraising $266

  • 24e · All other expenses

    total $113,444 · program services $102,096 · management and general $10,961 · fundraising $387

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,372,610 · end of year $417,189

  • 2 · Savings and temporary cash investments

    beginning of year $105,884 · end of year $1,039,661

  • 3 · Pledges and grants receivable

    beginning of year $54,910 · end of year $162,500

  • 4 · Accounts receivable

    beginning of year $189,769 · end of year $75,660

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,949 · end of year $69,077

  • 10a · Land, buildings and equipment: cost or other basis

    $9,133,300

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,365,430

  • 10c · Land, buildings and equipment, net

    beginning of year $470,690 · end of year $767,870

  • 11 · Investments: publicly traded securities

    beginning of year $6,394,811 · end of year $4,921,751

  • 12 · Investments: other securities

    beginning of year $368,948

  • 15 · Other assets

    beginning of year $1,391,688 · end of year $884,674

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,361,337 · end of year $1,087,357

  • 19 · Deferred revenue

    beginning of year $258,625 · end of year $258,625

  • 21 · Escrow or custodial account liability

    beginning of year $661,716 · end of year $884,674

  • 25 · Other liabilities

    beginning of year $729,972 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,490,609 · end of year $6,107,726

  • 28 · Net assets with donor restrictions

    beginning of year $900,000 · end of year $0

Mission and programs · 2023

Mission

INCHARGE DEBT SOLUTIONS HELPS CONSUMERS ACHIEVE FINANCIAL BALANCE AND MOVE CLOSER TO THEIR DREAMS.

Activities or mission (Part I)

INCHARGE DEBT SOLUTIONS (IDS) PROVIDES CREDIT, BANKRUPTCY, AND HOUSING COUNSELING 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.

  • 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. NEARLY 74,000 FINANCIALLY DISTRESSED INDIVIDUALS RECEIVED CREDIT COUNSELING, AND FINANCIAL EDUCATIONAL MATERIALS DURING 2023. 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.

    Expenses $9,212,925 · Revenue $10,850

  • 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.

    Expenses $4,592,618 · Revenue $8,059,938

  • HOUSING COUNSELING AND EDUCATION - IDS IS A LOCAL U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") APPROVED AGENCY IN THE STATE OF FLORIDA AND A MEMBER OF THE NATIONAL FOUNDATION FOR CREDIT COUNSELING ("NFCC"), WHICH ENABLES IDS TO SERVE CONSUMERS ON A NATIONWIDE BASIS. HOUSING COUNSELING SERVICES INCLUDE FORECLOSURE PREVENTION COUNSELING, HOMEBUYER EDUCATION, AND PRE-PURCHASE HOMEBUYER COUNSELING. FORECLOSURE PREVENTION COUNSELING IS DESIGNED TO PROVIDE EXISTING BORROWERS WITH INFORMATION AND ASSISTANCE NEEDED TO AVOID FORECLOSURE. PROGRAM HIGHLIGHTS INCLUDE BUDGET PLANNING, EVALUATION OF ELIGIBILITY FOR LOAN MODIFICATION, ASSESSMENT OF ABILITY TO SUSTAIN HOME OWNERSHIP, AND ALTERNATIVE HOUSING OPTIONS. HOMEBUYER EDUCATION IS DESIGNED TO BETTER PREPARE POTENTIAL HOMEOWNERS FOR HOMEOWNERSHIP. PARTICIPANTS EXAMINE THEIR HOUSING NEEDS, ANALYZE THEIR FINANCIAL SITUATION, AND LEARN STRATEGIES TO IMPROVE FINANCIAL MANAGEMENT IN AN EFFORT TO BETTER PREPARE FOR HOMEOWNERSHIP. PARTICIPANTS ALSO LEARN HOW TO SHOP FOR A HOME, OBTAIN A MORTGAGE AND PREPARE FOR LIFE AS A HOMEOWNER. PRE-PURCHASE HOMEBUYER COUNSELING, A PERSONAL ONE-ON-ONE SESSION, IS OFFERED TO PROVIDE EDUCATION AND TIPS TO ASSIST POTENTIAL HOMEBUYERS IN IMPROVING FINANCIAL MANAGEMENT SKILLS AND UNDERSTANDING ALTERNATIVE SOURCES OF FUNDING AND MORTGAGE OPTIONS. DURING 2023 APPROXIMATELY 7,700 HOUSING COUNSELING SESSIONS WERE CONDUCTED.

    Expenses $507,849 · Revenue $658,011

  • 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 2023, APPROXIMATELY 6,500 CERTIFICATES WERE ISSUED TO BANKRUPTCY PETITIONERS EVIDENCING THEIR SUCCESSFUL COMPLETION OF THE BANKRUPTCY CREDIT COUNSELING SESSION AND THE PERSONAL FINANCIAL MANAGEMENT COURSE.

    Expenses $371,014 · Revenue $134,539

  • FINANCIAL LITERACY OUTREACH - IDS, IN CONJUNCTION WITH ITS SUPPORTING ORGANIZATION, INCHARGE EDUCATION FOUNDATION, CONDUCTS NUMEROUS FINANCIAL LITERACY WORKSHOPS, AND HOME BUYER EDUCATION CLASSES FOR THE GENERAL PUBLIC. THE GOAL OF EACH OUTREACH EVENT IS TO IMPROVE THE FINANCIAL CAPABILITIES OF ATTENDEES BY PROVIDING RELEVANT INFORMATION AND TOOLS CONCERNING PERSONAL FINANCE, MONEY MANAGEMENT, THE RESPONSIBLE USE OF CREDIT, AND THE HOME BUYING PROCESS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Patricia Wexler

    BOARD CHAIR

    Total calculated
    $1,615
    From this org
    $1,615
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Carey Tarbell

    TRUSTEE

    Total calculated
    $1,615
    From this org
    $1,615
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Tassey

    TRUSTEE

    Total calculated
    $1,661
    From this org
    $1,661
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James Harris

    TRUSTEE UNTIL MARCH

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Monika Wilczak

    TRUSTEE AS OF MARCH

    Total calculated
    $722
    From this org
    $722
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bhavesh Vadhani

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Ruiz

    TRUSTEE

    Total calculated
    $1,725
    From this org
    $1,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kristen Soles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Gall

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susanna Kondracki

    TRUSTEE

    Total calculated
    $2,628
    From this org
    $2,628
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Etta W Money

    PRESIDENT & CEO UNTIL MAY

    Total calculated
    $239,213
    From this org
    $214,007
    From related orgs
    $0
    Other
    $25,206
    Hours/week
    46 + 4 related

    Schedule J breakdown matched by us

    Base
    $176,507
    Bonus
    $35,000
    Other
    $2,500
    Deferred
    $17,786
    Nontaxable benefits
    $7,420
    Filer's total
    $239,213

  • William Malseed

    SECRETARY/TREASURER UNTIL MAY

    Total calculated
    $140,202
    From this org
    $129,815
    From related orgs
    $0
    Other
    $10,387
    Hours/week
    41 + 4 related

  • Michael C Leon Board Sec As

    OF JUNE AND VP OF OPERATIONS

    Total calculated
    $204,376
    From this org
    $188,315
    From related orgs
    $0
    Other
    $16,061
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,840
    Bonus
    $7,975
    Other
    $5,500
    Deferred
    $6,598
    Nontaxable benefits
    $9,463
    Filer's total
    $204,376

  • Loretta Roney

    PRESIDENT & CEO AS OF JUNE

    Total calculated
    $233,225
    From this org
    $224,219
    From related orgs
    $0
    Other
    $9,006
    Hours/week
    36 + 9 related

    Schedule J breakdown matched by us

    Base
    $220,719
    Bonus
    $0
    Other
    $3,500
    Deferred
    $3,365
    Nontaxable benefits
    $5,641
    Filer's total
    $233,225

  • Seiji Shiraishi Board Treas

    AND DIR. OF ACCOUNTING AND FINANCE

    Total calculated
    $166,025
    From this org
    $0
    From related orgs
    $136,774
    Other
    $29,251
    Hours/week
    27 + 18 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,774 related
    Bonus
    $0
    Other
    $0 + $3,000 related
    Deferred
    $0 + $6,361 related
    Nontaxable benefits
    $0 + $22,890 related
    Filer's total
    $0 + $166,025 related

  • Ricardo Viera Senior

    DIRECTOR OF INFORMATION TECHNOLOGY

    Total calculated
    $189,055
    From this org
    $0
    From related orgs
    $158,659
    Other
    $30,396
    Hours/week
    36 + 9 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,659 related
    Bonus
    $0 + $3,000 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $7,560 related
    Nontaxable benefits
    $0 + $22,836 related
    Filer's total
    $0 + $189,055 related

  • Karen Carlson

    PRESIDENT OF EDUCATION FOUNDATION

    Total calculated
    $219,541
    From this org
    $0
    From related orgs
    $188,874
    Other
    $30,667
    Hours/week
    32 + 13 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,314 related
    Bonus
    $0 + $13,560 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $7,555 related
    Nontaxable benefits
    $0 + $23,112 related
    Filer's total
    $0 + $219,541 related

  • Shawn Walsh

    VICE PRESIDENT OF RELATIONSHIP

    Total calculated
    $186,576
    From this org
    $0
    From related orgs
    $154,226
    Other
    $32,350
    Hours/week
    36 + 9 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,206 related
    Bonus
    $0 + $7,020 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $9,305 related
    Nontaxable benefits
    $0 + $23,045 related
    Filer's total
    $0 + $186,576 related

  • Ahmed Moyeen

    SOFTWARE ENGINEER SENIOR

    Total calculated
    $134,570
    From this org
    $0
    From related orgs
    $119,213
    Other
    $15,357
    Hours/week
    45

  • Billy Sexton

    IT INFRASTRUCTURE MANAGER

    Total calculated
    $137,817
    From this org
    $0
    From related orgs
    $122,273
    Other
    $15,544
    Hours/week
    45

  • Sherana Bakhsh

    PMO/QUALITY ASSURANCE MANAGER

    Total calculated
    $120,946
    From this org
    $0
    From related orgs
    $113,018
    Other
    $7,928
    Hours/week
    45

  • Nidia Mercado Director

    OF QUALITY AND COMPLIANCE

    Total calculated
    $137,165
    From this org
    $114,358
    From related orgs
    $0
    Other
    $22,807
    Hours/week
    45

  • Sasan Saleh Nassab

    DIRECTOR OF QUALITY AND COMPLIANCE

    Total calculated
    $148,957
    From this org
    $120,352
    From related orgs
    $0
    Other
    $28,605
    Hours/week
    27 + 18 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE ORGANIZATION HAS A TAX-EXEMPT 457(B) DEFERRED COMPENSATION PLAN FOR CERTAIN KEY EXECUTIVES. A PORTION OF THE PARTICIPATING EXECUTIVES' COMPENSATION IS DEFERRED. PER IRS REQUIREMENTS, ALL PLAN AMOUNTS MUST BE SUBJECT TO THE CLAIMS OF IDS' CREDITORS, AND AS SUCH, A DEFERRED COMPENSATION ASSET AND CORRESPONDING DEFERRED LIABILITY ARE INCLUDED IN THE STATEMENTS OF FINANCIAL POSITION. DURING 2023, PARTICIPANTS IN THE PLAN INCLUDED ETTA W. MONEY, WILLIAM R. MALSEED AND SORAIA DEARAUJO. INCLUDED IN SCHEDULE J, COLUMN B(III) ARE AMOUNTS DEFERRED DURING 2023 AND EARNINGS ON AMOUNTS DEFERRED.
PART I, LINE 7
THE NON-FIXED PAYMENTS REPRESENT NOMINAL AMOUNTS GRANTED BY THE BOARD OF TRUSTEES IN RECOGNITION OF ANNUAL GOAL ACHIEVEMENTS AS SPECIFIED IN THE STRATEGIC PLAN.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 September 2024
IRS schema version
2023v5.1
Source object
202402579349300920

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.