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Nonprofiteer
← CONSOLIDATED CREDIT SOLUTIONS INC

Form 990 for tax year 2024

Filed by CONSOLIDATED CREDIT SOLUTIONS INC.

Totals

Total revenue
$22,174,919
Total expenses
$22,234,076
Contributions and grants received
$2,921,578
Grants paid
$41,760
Program service revenue
$18,964,455
Investment income
$50,922
Other revenue
$237,964
Total assets, end of year
$6,045,783
Total liabilities, end of year
$5,727,385
Net assets or fund balances, end of year
$318,398
Program services expenses (Part IX)
$19,666,182
Management and general expenses
$2,567,894
Fundraising expenses
$0
Program service expenses (Part III)
$19,666,182

Program services were 88.5% 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

    $2,921,578

  • 2a · Program service revenue: DEBT MANAGEMENT SERVICES

    total $13,552,068 · related or exempt $13,552,068

  • 2b · Program service revenue: EDUCATIONAL SERVICES

    total $709,027 · related or exempt $709,027

  • 2c · Program service revenue: HOUSING COUNSELING SERVICES

    total $141,152 · related or exempt $141,152

  • 2f · All other program service revenue

    total $4,562,208 · related or exempt $4,562,208

  • 3 · Investment income

    total $50,922 · related or exempt $50,922

  • 11a · Other revenue: UNREALIZED GAIN ON SECURITIES

    total $237,964 · related or exempt $237,964

  • 11e · Other revenue, total

    $237,964

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $41,760 · program services $41,760

  • 5 · Compensation of officers, directors and key employees

    total $713,862 · program services $642,476 · management and general $71,386

  • 7 · Other salaries and wages

    total $5,052,770 · program services $4,547,493 · management and general $505,277

  • 8 · Pension plan contributions

    total $126,606 · program services $113,945 · management and general $12,661

  • 9 · Other employee benefits

    total $528,776 · program services $475,898 · management and general $52,878

  • 10 · Payroll taxes

    total $500,404 · program services $450,364 · management and general $50,040

  • 11b · Fees: legal

    total $19,100 · management and general $19,100

  • 11c · Fees: accounting

    total $38,965 · management and general $38,965

  • 11g · Fees: other

    total $1,383,728 · management and general $1,383,728

  • 12 · Advertising and promotion

    total $3,689,383 · program services $3,689,383

  • 13 · Office expenses

    total $305,925 · program services $275,332 · management and general $30,593

  • 14 · Information technology

    total $825,862 · program services $743,276 · management and general $82,586

  • 16 · Occupancy

    total $1,684,596 · program services $1,516,136 · management and general $168,460

  • 17 · Travel

    total $29,579 · program services $26,621 · management and general $2,958

  • 22 · Depreciation, depletion and amortization

    total $15,206 · program services $13,685 · management and general $1,521

  • 24a · Other expenses: MEMBER SUPPORT SERVICES

    total $5,637,456 · program services $5,637,456

  • 24b · Other expenses: TELEPHONE

    total $638,780 · program services $574,902 · management and general $63,878

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $298,367 · program services $268,530 · management and general $29,837

  • 24d · Other expenses: LICENSING AND PERMITS

    total $208,136 · program services $187,322 · management and general $20,814

  • 24e · All other expenses

    total $494,815 · program services $461,603 · management and general $33,212

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,326,397 · end of year $1,019,817

  • 4 · Accounts receivable

    beginning of year $132,542 · end of year $69,925

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

    $228,094

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

    $65,714

  • 10c · Land, buildings and equipment, net

    beginning of year $177,591 · end of year $162,380

  • 12 · Investments: other securities

    beginning of year $1,961,416 · end of year $2,141,947

  • 15 · Other assets

    beginning of year $2,301,077 · end of year $2,651,714

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,231,412 · end of year $3,084,527

  • 21 · Escrow or custodial account liability

    beginning of year $2,290,056 · end of year $2,642,858

  • 27 · Net assets without donor restrictions

    beginning of year $377,555 · end of year $318,398

Mission and programs · 2024

Mission

TO ASSIST INDIVIDUALS WHO ARE EXPERIENCING FINANCIAL DIFFICULTIES THROUGH PROFESSIONAL COUNSELING AND FINANCIAL EDUCATION.

Activities or mission (Part I)

SEE RELATED FOOTNOTE ON SCHEDULE O

  • CONSOLIDATED CREDIT SOLUTIONS OFFERS LOSS MITIGATION AND FORECLOSURE PREVENTION COUNSELING, 1ST TIME HOMEBUYER EDUCATION, A SUBSTANTIAL FINANCIAL LITERACY PROGRAM, CREDIT COUNSELING, AND REVERSE MORTGAGE COUNSELING. CONSOLIDATED CREDIT SOLUTIONS IS COMMITTED TO BRINGING FINANCIAL EDUCATION PROGRAMS TO INDIVIDUALS AND FAMILIES WITH A FOCUS ON HOUSEHOLDS IN LOW, LOW-TO-MODERATE AND MODERATE INCOME CENSUS TRACKS. TO ACCOMPLISH THIS, CONSOLIDATED CREDIT SOLUTIONS PROVIDES FREE, MONTHLY COMMUNITY SEMINARS AND WEBINARS ON TOPICS INCLUDING BUDGETING, CREDIT MANAGEMENT, PRE-PURCHASE COUNSELING, FORECLOSURE PREVENTION, AND REVERSE MORTGAGES.SEE ATTACHED STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS.

    Expenses $666,778 · Grants $41,760 · Revenue $850,179

  • DEBT AND BUDGET COUNSELING SERVICES ARE PROVIDED TO INDIVIDUALS EXPERIENCING FINANCIAL DIFFICULTIES. A CERTIFIED CREDIT COUNSELOR HELPS TO ASSESS THE FINANCIAL SITUATION OF THE CONSUMER, DEVELOP A DETAILED HOUSEHOLD BUDGET AND ACTION PLAN. THESE COUNSELING SESSIONS ARE PROVIDED IN PERSON, BY TELEPHONE OR THROUGH THE INTERNET. ADDITIONALLY, ALL CONSUMERS ARE OFFERED FINANCIAL EDUCATION TAILORED TO THEIR LIFE SITUATIONS. WHERE APPLICABLE, SOME CONSUMERS CHOOSE A DEBT MANAGEMENT PLAN (DMP) TO ASSIST WITH THEIR UNSECURED DEBTS. UNDER A DMP, THE CONSUMER MAKES A MONTHLY PAYMENT TO CONSOLIDATED CREDIT SOLUTIONS WHICH IN TURN PAY THE UNSECURED DEBT COVERED UNDER THE PROGRAM.

    Expenses $18,999,404 · Revenue $21,120,955

As filed on the 2024 return.

Listed in Part VII

  • Jeffrey Needle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Steven Fischer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Morey Goldberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mercedes Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Evan Lasher

    OFFICER

    Total calculated
    $42,184
    From this org
    $41,338
    From related orgs
    $0
    Other
    $846
    Hours/week
    40

  • Romeo Librea

    OFFICER

    Total calculated
    $164,318
    From this org
    $151,987
    From related orgs
    $0
    Other
    $12,331
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,987
    Bonus
    $0
    Other
    $0
    Deferred
    $3,785
    Nontaxable benefits
    $8,546
    Filer's total
    $164,318

  • Gary Herman

    OFFICER

    Total calculated
    $373,358
    From this org
    $331,177
    From related orgs
    $0
    Other
    $42,181
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $331,177
    Bonus
    $0
    Other
    $0
    Deferred
    $7,303
    Nontaxable benefits
    $34,878
    Filer's total
    $373,358

  • Ivan Rezvoy

    OFFICER

    Total calculated
    $172,000
    From this org
    $170,692
    From related orgs
    $0
    Other
    $1,308
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,692
    Bonus
    $0
    Other
    $0
    Deferred
    $1,308
    Nontaxable benefits
    $0
    Filer's total
    $172,000

  • Kerryll Malcolm

    EMPLOYEE

    Total calculated
    $160,596
    From this org
    $156,055
    From related orgs
    $0
    Other
    $4,541
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,055
    Bonus
    $0
    Other
    $0
    Deferred
    $4,541
    Nontaxable benefits
    $0
    Filer's total
    $160,596

  • Alan Newman

    EMPLOYEE

    Total calculated
    $157,631
    From this org
    $154,393
    From related orgs
    $0
    Other
    $3,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,393
    Bonus
    $0
    Other
    $0
    Deferred
    $3,238
    Nontaxable benefits
    $0
    Filer's total
    $157,631

  • John Crosbie

    EMPLOYEE

    Total calculated
    $136,420
    From this org
    $132,350
    From related orgs
    $0
    Other
    $4,070
    Hours/week
    40

  • April St Michael Ireland

    EMPLOYEE

    Total calculated
    $126,977
    From this org
    $125,018
    From related orgs
    $0
    Other
    $1,959
    Hours/week
    40

  • Samuel Andres Castro

    EMPLOYEE

    Total calculated
    $122,855
    From this org
    $119,149
    From related orgs
    $0
    Other
    $3,706
    Hours/week
    40

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

Provenance

Return type
form_990
Tax year
2024
Filed
11 December 2025
IRS schema version
2024v5.2
Source object
202533469349300838

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