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Nonprofiteer
← NATIONAL FOUNDATION FOR CREDIT COUNSELING INC

Form 990 for tax year 2024

Filed by NATIONAL FOUNDATION FOR CREDIT COUNSELING INC.

Totals

Total revenue
$8,621,347
Total expenses
$8,989,733
Contributions and grants received
$3,374,114
Grants paid
$1,538,301
Program service revenue
$5,122,747
Investment income
$124,486
Other revenue
$0
Total assets, end of year
$6,325,266
Total liabilities, end of year
$2,578,581
Net assets or fund balances, end of year
$3,746,685
Program services expenses (Part IX)
$6,512,559
Management and general expenses
$2,116,083
Fundraising expenses
$361,091
Program service expenses (Part III)
$6,512,559

Program services were 72.4% 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.

  • 1e · Government grants (contributions)

    $818,585

  • 1f · All other contributions, gifts and grants

    $2,555,529

  • 2a · Program service revenue: NATIONAL LOCATOR LINE

    total $3,216,904 · related or exempt $3,216,904

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $1,444,123 · related or exempt $1,444,123

  • 2c · Program service revenue: COUNSELOR FEES

    total $206,630 · related or exempt $206,630

  • 2d · Program service revenue: OTHER PROGRAM SERVICES

    total $197,590 · related or exempt $197,590

  • 2e · Program service revenue: EXHIBIT FEES

    total $57,500 · related or exempt $57,500

  • 3 · Investment income

    total $124,486 · excluded $124,486

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,538,301 · program services $1,538,301

  • 5 · Compensation of officers, directors and key employees

    total $1,090,884 · program services $571,707 · management and general $491,848 · fundraising $27,329

  • 7 · Other salaries and wages

    total $1,886,082 · program services $928,717 · management and general $747,382 · fundraising $209,983

  • 8 · Pension plan contributions

    total $118,005 · program services $63,262 · management and general $41,813 · fundraising $12,930

  • 9 · Other employee benefits

    total $208,730 · program services $110,536 · management and general $78,257 · fundraising $19,937

  • 10 · Payroll taxes

    total $202,244 · program services $107,216 · management and general $77,576 · fundraising $17,452

  • 11b · Fees: legal

    total $88,182 · management and general $88,182

  • 11c · Fees: accounting

    total $64,524 · management and general $64,524

  • 11g · Fees: other

    total $251,245 · program services $171,558 · management and general $64,329 · fundraising $15,358

  • 12 · Advertising and promotion

    total $1,663,524 · program services $1,663,524

  • 13 · Office expenses

    total $148,527 · program services $54,971 · management and general $73,488 · fundraising $20,068

  • 14 · Information technology

    total $741,058 · program services $586,929 · management and general $140,437 · fundraising $13,692

  • 16 · Occupancy

    total $188,636 · program services $95,850 · management and general $77,310 · fundraising $15,476

  • 17 · Travel

    total $132,372 · program services $80,581 · management and general $51,274 · fundraising $517

  • 19 · Conferences, conventions and meetings

    total $172,847 · program services $172,847

  • 22 · Depreciation, depletion and amortization

    total $95,732 · program services $48,643 · management and general $39,235 · fundraising $7,854

  • 23 · Insurance

    total $44,677 · management and general $44,677

  • 24a · Other expenses: COMMUNICATIONS

    total $103,557 · program services $74,629 · management and general $28,448 · fundraising $480

  • 24b · Other expenses: STUDIES AND SURVEYS

    total $100,040 · program services $99,660 · management and general $380

  • 24c · Other expenses: GRANTMAKING SERVICE FEE

    total $98,690 · program services $98,690

  • 24d · Other expenses: TRAINING

    total $51,876 · program services $44,938 · management and general $6,923 · fundraising $15

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $638,488 · end of year $796,146

  • 3 · Pledges and grants receivable

    beginning of year $991,449 · end of year $376,295

  • 4 · Accounts receivable

    beginning of year $277,644 · end of year $394,358

  • 9 · Prepaid expenses and deferred charges

    beginning of year $95,750 · end of year $142,858

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

    $778,824

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

    $609,873

  • 10c · Land, buildings and equipment, net

    beginning of year $255,065 · end of year $168,951

  • 11 · Investments: publicly traded securities

    beginning of year $3,799,578 · end of year $3,098,125

  • 15 · Other assets

    beginning of year $1,631,075 · end of year $1,348,533

  • 17 · Accounts payable and accrued expenses

    beginning of year $577,549 · end of year $522,906

  • 18 · Grants payable

    beginning of year $1,119,761 · end of year $431,026

  • 25 · Other liabilities

    beginning of year $1,908,846 · end of year $1,624,649

  • 27 · Net assets without donor restrictions

    beginning of year $1,695,139 · end of year $1,879,883

  • 28 · Net assets with donor restrictions

    beginning of year $2,387,754 · end of year $1,866,802

Mission and programs · 2024

Mission

TO LEAD A NATIONAL MOVEMENT THAT BETTER EQUIPS AMERICANS TO MANAGE THEIR FINANCIAL FUTURES AND, IN TURN, ADVANCES THE ECONOMY AND OUR NATION AS A WHOLE. FOUNDED IN 1951, THE NATIONAL FOUNDATION FOR CREDIT COUNSELING (NFCC) IS THE OLDEST NONPROFIT DEDICATED TO IMPROVING PEOPLE'S FINANCIAL WELL-BEING. WITH 52 MEMBER AGENCIES AND OVER 1,200 NFCC CERTIFIED CREDIT COUNSELORS SERVING 50 STATES AND ALL U.S. TERRITORIES, OUR NFCC CERTIFIED CREDIT COUNSELORS ARE FINANCIAL ADVOCATES, EMPOWERING MILLIONS OF CONSUMERS TO TAKE CHARGE OF THEIR FINANCES THROUGH ONE-ON-ONE FINANCIAL REVIEWS THAT ADDRESS CREDIT CARD DEBT, STUDENT LOANS, HOUSING DECISIONS, AND OVERALL MONEY MANAGEMENT.

Activities or mission (Part I)

THE NFCC AND ITS MEMBERS OFFER PEOPLE SOLUTIONS AND SUPPORT TO ADDRESS FINANCIAL CHALLENGES AND TAKE CHARGE OF THEIR OWN FINANCIAL FUTURES.

  • MEMBERSHIP SUPPORT: FOSTER MEMBER COMMUNICATIONS; HOLD MEMBER MEETINGS AND ANNUAL CONFERENCE; PROVIDE COUNSELOR CERTIFICATION; PROVIDE A PATH TO ASSISTANCE FOR CONSUMERS VIA THE CONSUMER'S PREFERRED METHOD (CURRENTLY PHONE AND ONLINE FORM, WHILE BUILDING-OUT VIDEO AND DIGITAL ENTRY OPTIONS). MAINTAIN RELATIONSHIPS WITH CREDIT-GRANTING ORGANIZATIONS TO SUPPORT CLIENTS AND MEMBER ORGANIZATIONS, BUILD AWARENESS FOR MISSION THROUGH MEDIA OUTREACH.

    Expenses $3,851,834 · Grants $49,654

  • HOUSING COUNSELING: DEVELOP AND MAINTAIN PARTNERSHIPS WITH COALITION OF HUD INTERMEDIARIES, INCLUDING MORTGAGE LENDERS AND SERVICERS, TO HELP MEMBERS ASSIST CONSUMERS WITH PRE-HOME OWNERSHIP (PRE-PURCHASE) COUNSELING, POST-PURCHASE COUSENLING TO HELP ENSURE THAT NEW OWNERS CAN REMAIN IN THEIR HOMES, EVICTION (FOR RENTERS) AND FORECLOSURE PREVENTION

    Expenses $1,899,774 · Grants $1,030,789 · Revenue $5,122,747

  • GENERAL FINANCIAL EDUCATION: DEVELOP AND SUPPORT FINANCIAL EDUCATION FOR CONSUMERS; DEVELOP PARTNERSHIPS WITH OTHER ORGANIZATIONS TO ADDRESS THE NEED FOR PERSONAL FINANCIAL LITERACY. NFCC MEMBER AGENCIES HAVE PROVIDED EDUCATION AND ASSISTANCE TO 35 MILLION PEOPLE SINCE 2006.

    Expenses $527,821 · Grants $330,290

  • Expenses $233,130 · Grants $127,568

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jay Desmarteau

    CHAIR AS OF 08/2024

    Total calculated
    $0
    Hours/week
    1

  • Debbie Bianucci

    CHAIR UNTIL 08/2024

    Total calculated
    $0
    Hours/week
    1

  • Genger Charles

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jim Triggs

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Faisal Uddin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gloria Banks

    TRUSTEE UNTIL 05/2024

    Total calculated
    $0
    Hours/week
    1

  • Gary Vollmer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher Camaione-Lind

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • George Janas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Christopher Viale

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sarah Goldfrank

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Eleanor Hohman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Amy Helen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jill Feldman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Grossberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kavita Kamdar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kristen Holt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Croxson

    CEO

    Total calculated
    $662,481
    From this org
    $508,543
    From related orgs
    $0
    Other
    $153,938
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $390,418
    Bonus
    $118,125
    Other
    $0
    Deferred
    $136,500
    Nontaxable benefits
    $17,438
    Filer's total
    $662,481

  • Ellen Goury

    VP, FINANCE & HR

    Total calculated
    $205,248
    From this org
    $178,831
    From related orgs
    $0
    Other
    $26,417
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,981
    Bonus
    $7,850
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $24,917
    Filer's total
    $205,248

  • Jennifer Landis Pizi

    COO

    Total calculated
    $383,200
    From this org
    $314,205
    From related orgs
    $0
    Other
    $68,995
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $254,205
    Bonus
    $60,000
    Other
    $0
    Deferred
    $60,000
    Nontaxable benefits
    $8,995
    Filer's total
    $383,200

  • Kristin Alexander

    CDO - UNTIL 11/2024

    Total calculated
    $204,696
    From this org
    $196,477
    From related orgs
    $0
    Other
    $8,219
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,632
    Bonus
    $5,769
    Other
    $23,076
    Deferred
    $0
    Nontaxable benefits
    $8,219
    Filer's total
    $204,696

  • Bruce McClary

    SVP, MEDIA RELATIONS & MEMBERSHIP

    Total calculated
    $156,472
    From this org
    $142,606
    From related orgs
    $0
    Other
    $13,866
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $137,606
    Bonus
    $5,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $8,866
    Filer's total
    $156,472

  • Matthew Ribe

    GENERAL COUNSEL

    Total calculated
    $218,557
    From this org
    $178,640
    From related orgs
    $0
    Other
    $39,917
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,640
    Bonus
    $15,000
    Other
    $0
    Deferred
    $15,000
    Nontaxable benefits
    $24,917
    Filer's total
    $218,557

  • Hermond Palmer

    VP, OUTREACH & INCLUSION

    Total calculated
    $200,099
    From this org
    $193,287
    From related orgs
    $0
    Other
    $6,812
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $178,287
    Bonus
    $15,000
    Other
    $0
    Deferred
    $5,000
    Nontaxable benefits
    $1,812
    Filer's total
    $200,099

  • Jessica Blais

    SVP, MARKETING

    Total calculated
    $146,317
    From this org
    $136,908
    From related orgs
    $0
    Other
    $9,409
    Hours/week
    50

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
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 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 3
THE BOARD EXECUTIVE COMMITTEE REVIEWS COMPENSATION STUDY PROVIDED BY INDEPENDENT CONSULTANT WHICH IS THEN PRESENTED TO AND APPROVED BY THE FULL BOARD
PART I, LINE 4A
NAME: KRISTIN ALEXANDER, DESCRIPTION: CHIEF DEVELOPMENT OFFICER, CURRENT YEAR AMOUNT: $23,076. PLAN DESCRIPTION: 6 WEEKS SEVERANCE PAYOUT. THE AMOUNT WAS INCLUDED IN THEIR TAXABLE COMPENSATION.
PART I, LINE 7
BONUSES PAID OUT TO EMPLOYEES WERE NON-FIXED PAYMENTS AND NOT CONTINGENT ON THE ORGANIZATION'S REVENUE OR NET EARNINGS

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
13 October 2025
IRS schema version
2024v5.2
Source object
202532889349300738

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

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