Civic Intelligence

Debtorwise Foundation

990 • Fiscal year 2014 • EIN 26-4299343

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 25, 2015

Organization ProfileDEBTORWISE.ORG
1100 University Ave Suite 209Rochester, NY 14607

(301) 237-5599

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

13.80x

Higher debt load relative to assets than 99% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

0.99x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

23rd percentile

-10%

Higher net margin than 23% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets99th percentile

Assets

$32,102

No earlier filing loaded for comparison.

Net Assets

-$410,825

No earlier filing loaded for comparison.

Liabilities

$442,927

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin23rd percentile

Revenue

$449,094

No earlier filing loaded for comparison.

Expenses

$495,037

No earlier filing loaded for comparison.

Net Income

-$45,943

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$500K$0-$500KAssets 2014: $32,102Liabilities 2014: $442,927Net Assets 2014: -$410,8252014

Highlighted filing

2014

Assets$32,102
Liabilities$442,927
Net Assets-$410,825
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2014: $449,094Expenses 2014: $495,037Net Income 2014: -$45,9432014

Highlighted filing

2014

Revenue$449,094
Expenses$495,037
Net Income-$45,943
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 25, 2015
Return Version
2014v5.0
Gross Receipts
$449,094
Mission and Program Overview

Mission

Debtorwise foundation is a 501(c)(3) nonprofit organization dedicated to providing affordable financial education to financially distressed and low-income households. It is the nation's leading provider of credit counseling and debtor education courses that satisfy the federal court's education requirements for filing consumer bankruptcy. Also, debtorwise is the national leader in developing demographically specific financial education courses. All debtorwise courses are available in spanish and english. They are conducted over the internet and by telephone.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,597$24,497▼ $16,100
Cash and Non-Interest-Bearing Accounts$5,516$6,905▲ $1,389
Accounts Receivable$395$700▲ $305
Rtn Earn Endowment Incm Other Fnds$-399,030$-410,825▼ $11,795
Total Assets$46,508$32,102▼ $14,406
Liabilities
Other Liabilities$268,202$249,251▼ $18,951
Accounts Payable and Accrued Expenses$115,359$131,699▲ $16,340
Unsecured Notes Loans Payable$61,977$61,977→ $0
Total Liabilities$445,538$442,927▼ $2,611
Net Assets / Fund Balance
Total Net Assets Fund Balance$-399,030$-410,825▼ $11,795
Total Liabilities and Net Assets / Fund Balance$46,508$32,102▼ $14,406

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$24,497$69,450$93,947
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Robert ManningPresident
Donald R AdairSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$449,092
Investment Income
$2
Other Revenue
$0
Change in Net Assets
$-45,943

Audited Revenue Reconciliation

Revenue per Audited Statements
$449,094
Total Revenue per Audited Statements
$449,094
Total Revenue per Form 990
$449,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$352,674
Other Expenses$142,363
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$61,526$246,103-$307,629
Payroll Taxes$6,939$27,756-$34,695
Depreciation Depletion$16,100--$16,100
Occupancy$12,570$3,142-$15,712
Other Employee Benefits$2,070$8,280-$10,350
Information Technology$4,712$4,712-$9,424
All Other Expenses$2,229$3,988-$6,217
Other Expenses$4,830--$4,830
Advertising$3,599--$3,599
Fees for Services Other$3,460--$3,460
Office Expenses$2,561$681-$3,242
Interest-$2,382-$2,382
Insurance-$1,795-$1,795
Fees for Services Accounting-$1,475-$1,475
Travel-$378-$378
Fees for Services Legal-$53-$53
Total Functional Expenses$194,292$300,745$0$495,037

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$495,037
Total Expenses per Audited Statements$495,037
Total Expenses per Form 990$495,037
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll$229,303
Credit Cards$19,948
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Debtorwise Foundation
EIN
26-4299343
Phone
3012375599
Address
1100 UNIVERSITY AVE SUITE 209, ROCHESTER, NY 14607

Signing Officer

Name
Robert Manning
Title
President
Phone
3012375599
Signed
2015-08-25
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
2
Independent Board Members
0
Employees
19

Preparer

Firm
Stephen Gaudino CPA Cfp Pc
Address
780 FETZNER RD STE B, ROCHESTER, NY 14626-1848
Preparer
Stephen Gaudino
Phone
5852327075
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Debtorwise foundation is a 501(c)(3) nonprofit organization dedicated to providing affordable financial education to financially distressed and low-income households. It is the nation's leading provider of credit counseling and debtor education courses that satisfy the federal court's education requirements for filing consumer bankruptcy. Also, debtorwise is the national leader in developing demographically specific financial education courses. All debtorwise courses are available in spanish and english. They are conducted over the internet and by telephone.”

Form 990, Page 2, Part III, Line 4D

“To providing affordable financial education to financially distressed and low-income households. It is the nation's leading provider of credit counseling and debtor education courses that satisfy the federal court's education requirements for filing consumer bankruptcy”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEBTORWISE FOUNDATION IS A 501(C)(3) NONPROFIT ORGANIZATION DEDICATED TO PROVIDING AFFORDABLE FINANCIAL EDUCATION TO FINANCIALLY DISTRESSED AND LOW-INCOME HOUSEHOLDS. IT IS THE NATION'S LEADING PROVIDER OF CREDIT COUNSELING AND DEBTOR EDUCATION COURSES THAT SATISFY THE FEDERAL COURT'S EDUCATION REQUIREMENTS FOR FILING CONSUMER BANKRUPTCY. ALSO, DEBTORWISE IS THE NATIONAL LEADER IN DEVELOPING DEMOGRAPHICALLY SPECIFIC FINANCIAL EDUCATION COURSES. ALL DEBTORWISE COURSES ARE AVAILABLE IN SPANISH AND ENGLISH. THEY ARE CONDUCTED OVER THE INTERNET AND BY TELEPHONE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO PROVIDING AFFORDABLE FINANCIAL EDUCATION TO FINANCIALLY DISTRESSED AND LOW-INCOME HOUSEHOLDS. IT IS THE NATION'S LEADING PROVIDER OF CREDIT COUNSELING AND DEBTOR EDUCATION COURSES THAT SATISFY THE FEDERAL COURT'S EDUCATION REQUIREMENTS FOR FILING CONSUMER BANKRUPTCY
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/Filer/EIN0264299343
ReturnHeader/Filer/PhoneNum03012375599
ReturnHeader/Filer/USAddress/AddressLine1Txt01100 UNIVERSITY AVE SUITE 209
ReturnHeader/Filer/USAddress/CityNm0ROCHESTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014607
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161312665
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STEPHEN GAUDINO CPA CFP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0780 FETZNER RD STE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROCHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0146261848
ReturnHeader/PreparerPersonGrp/PhoneNum05852327075
ReturnHeader/PreparerPersonGrp/PreparationDt02015-09-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN GAUDINO
ReturnHeader/ReturnTs02015-10-01T11:28:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,102
Liabilities
$442,927
Net assets
-$410,825
Revenue
$449,094
Expenses
$495,037
Net income
-$45,943
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.32$4.43$4.11$4.49$4.95$0.46