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Nonprofiteer
← CONSOLIDATED CREDIT SOLUTIONS INC

Form 990 for tax year 2023

Filed by CONSOLIDATED CREDIT SOLUTIONS INC.

Totals

Total revenue
$20,049,570
Total expenses
$20,020,255
Contributions and grants received
$2,743,823
Grants paid
$83,500
Program service revenue
$16,490,981
Investment income
$76,049
Other revenue
$738,717
Total assets, end of year
$5,899,023
Total liabilities, end of year
$5,521,468
Net assets or fund balances, end of year
$377,555
Program services expenses (Part IX)
$18,164,008
Management and general expenses
$1,856,247
Fundraising expenses
$0
Program service expenses (Part III)
$18,164,008

Program services were 90.7% 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

    $2,743,823

  • 2a · Program service revenue: DEBT MANAGEMENT FEES

    total $11,595,372 · related or exempt $11,595,372

  • 2b · Program service revenue: EDUCATIONAL SERVICES

    total $604,879 · related or exempt $604,879

  • 2c · Program service revenue: HOUSING COUNSELING FEES

    total $355,085 · related or exempt $355,085

  • 2f · All other program service revenue

    total $3,935,645 · related or exempt $3,935,645

  • 3 · Investment income

    total $76,049 · related or exempt $76,049

  • 11a · Other revenue: UNREALIZED GAIN ON SECURITIES

    total $175,858 · related or exempt $175,858

  • 11d · All other revenue

    total $562,859 · related or exempt $562,859

  • 11e · Other revenue, total

    $738,717

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $83,500 · program services $83,500

  • 5 · Compensation of officers, directors and key employees

    total $700,954 · program services $630,859 · management and general $70,095

  • 7 · Other salaries and wages

    total $5,036,112 · program services $4,532,501 · management and general $503,611

  • 8 · Pension plan contributions

    total $126,958 · program services $114,262 · management and general $12,696

  • 9 · Other employee benefits

    total $577,842 · program services $520,058 · management and general $57,784

  • 10 · Payroll taxes

    total $501,677 · program services $451,509 · management and general $50,168

  • 11b · Fees: legal

    total $11,505 · management and general $11,505

  • 11c · Fees: accounting

    total $136,939 · management and general $136,939

  • 11g · Fees: other

    total $662,764 · management and general $662,764

  • 12 · Advertising and promotion

    total $4,472,132 · program services $4,472,132

  • 13 · Office expenses

    total $324,461 · program services $292,015 · management and general $32,446

  • 14 · Information technology

    total $820,499 · program services $738,449 · management and general $82,050

  • 16 · Occupancy

    total $931,054 · program services $837,949 · management and general $93,105

  • 17 · Travel

    total $32,291 · program services $29,062 · management and general $3,229

  • 22 · Depreciation, depletion and amortization

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

  • 24a · Other expenses: MEMBER SUPPORT SERVICES

    total $4,048,170 · program services $4,048,170

  • 24b · Other expenses: TELEPHONE

    total $625,468 · program services $562,921 · management and general $62,547

  • 24c · Other expenses: LICENSING AND PERMITS

    total $189,180 · program services $170,262 · management and general $18,918

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $184,599 · program services $166,139 · management and general $18,460

  • 24e · All other expenses

    total $538,944 · program services $500,535 · management and general $38,409

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,365,572 · end of year $1,326,397

  • 4 · Accounts receivable

    beginning of year $26,600 · end of year $132,542

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

    $228,094

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

    $50,503

  • 10c · Land, buildings and equipment, net

    beginning of year $192,792 · end of year $177,591

  • 12 · Investments: other securities

    beginning of year $2,055,777 · end of year $1,961,416

  • 15 · Other assets

    beginning of year $2,973,903 · end of year $2,301,077

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,835,555 · end of year $3,231,412

  • 19 · Deferred revenue

    beginning of year $1,466,667

  • 21 · Escrow or custodial account liability

    beginning of year $2,964,182 · end of year $2,290,056

  • 27 · Net assets without donor restrictions

    beginning of year $348,240 · end of year $377,555

Mission and programs · 2023

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 $723,383 · Grants $83,500 · Revenue $959,964

  • 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 $17,440,625 · Revenue $19,022,106

As filed on the 2023 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
    $175,306
    From this org
    $171,100
    From related orgs
    $0
    Other
    $4,206
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,100
    Bonus
    $0
    Other
    $0
    Deferred
    $4,206
    Nontaxable benefits
    $0
    Filer's total
    $175,306

  • Romeo Librea

    OFFICER

    Total calculated
    $227,551
    From this org
    $210,065
    From related orgs
    $0
    Other
    $17,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,065
    Bonus
    $0
    Other
    $0
    Deferred
    $6,096
    Nontaxable benefits
    $11,390
    Filer's total
    $227,551

  • Gary Herman

    OFFICER

    Total calculated
    $369,511
    From this org
    $326,654
    From related orgs
    $0
    Other
    $42,857
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,654
    Bonus
    $0
    Other
    $0
    Deferred
    $6,712
    Nontaxable benefits
    $36,145
    Filer's total
    $369,511

  • Kerryll Malcolm

    EMPLOYEE

    Total calculated
    $145,397
    From this org
    $141,141
    From related orgs
    $0
    Other
    $4,256
    Hours/week
    40

  • Alan Newman

    EMPLOYEE

    Total calculated
    $151,736
    From this org
    $148,633
    From related orgs
    $0
    Other
    $3,103
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,633
    Bonus
    $0
    Other
    $0
    Deferred
    $3,103
    Nontaxable benefits
    $0
    Filer's total
    $151,736

  • John Crosbie

    EMPLOYEE

    Total calculated
    $133,904
    From this org
    $129,973
    From related orgs
    $0
    Other
    $3,931
    Hours/week
    40

  • April St Michael Ireland

    EMPLOYEE

    Total calculated
    $118,897
    From this org
    $117,133
    From related orgs
    $0
    Other
    $1,764
    Hours/week
    40

  • Molly Grace Kelly

    EMPLOYEE

    Total calculated
    $111,562
    From this org
    $108,332
    From related orgs
    $0
    Other
    $3,230
    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
2023
Filed
11 December 2024
IRS schema version
2023v5.1
Source object
202413469349300026

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