Springboard Non-Profit Consumer Credit Management Inc.

“Prior to filing, springboard's form 990 is reviewed internally by the ceo, as well as by an independent certified public accounting firm. Once these reviews are complete, one of two procedures is followed: a. Copies of the form 990 are given to the board members for review prior to the annual meeting. At the annual meeting, form 990 is discussed and any questions or comments are addressed; or b. A copy of the form 990 is given to each board member with a notice that informs the board member they shall have a week to review the form 990 and to submit any questions or comments to the ceo. These questions or comments are then addressed and circulated to the board members, unless the board chair requests that a board meeting be convened at which any and all questions or comments can be addressed.”

“Each board member is required to complete a conflict form annually. The form contains the company's conflicts policy, as well as an area in which the board member discloses any and all organizations in which the member is a board member, committee member or an employee. Additionally, the member is required to certify that, except as described in the form, they are not and have not in the past year been: 1.) a participant, directly or indirectly, in any arrangement, agreement, investment, or other activity with any vendor, supplier, or other party doing business with springboard which has resulted or could result in personal benefit to them. 2.) a recipient, directly or indirectly, of any salary payments or loans or gifts of any kind or any free service or discounts or other fees from or on behalf of any person or organization engaged in any transaction with springboard. Key employees review the employee conflicts of interest policy annually and are required to annually certify that they have reported in writing any circumstance that, since their last execution of the policy, did or may have involved a conflict of interest in the conduct of springboard's business, or may have created the appearance of involving a conflict or impropriety. The key employee is also required to attach to the signed policy a copy of the writing disclosing the potential conflict.”

“The compensation process for officers and key employees is periodically established by a board compensation committee. This committee takes into consideration a number of factors including: (1) an independent compensation study obtained by the company; (2) the 990s of other similar organizations; (3) internally completed compensation studies. Annual compensation and any merit increases justified by performance are recommended by the employee's direct supervisor; however, they are subject to final approval by the ceo, provided they are within the compensation ranges established by the committee.”

“The organization's exempt application with the supporting documentation and the annual return are made available to the public by written request.”

“Reverse mortgage offers clients guidance as to whether a reverse mortgage loan option is right for them and, if so, how to qualify. In 2019, over 3,095 sessions were conducted.”

“The cal hfa program grant (aka: keep your home california) was discontinued in november 2018. No further income was coming from this grant.”

“All review and process for the oversight of the audit of its financial statements and selection of an independent auditor remains consistent between years.”

“Established in 1974, springboard nonprofit consumer credit management, inc. Dba credit.org is a nonprofit community service organization whose mission is to strengthen communities and empower consumers by offering educational services that promote financial literacy, quality financial counseling, debt management solutions, and pathways to affordable housing. Credit.org serves all segments of the community, regardless of their economic status or ability to pay. The agency is governed by a voluntary and diverse community-based board of directors and is accredited by the council on accreditation ("coa"), a nationally recognized independent accrediting body signifying the highest standards for agency governance, fiscal integrity, counselor certification and service delivery policies. Credit.org's target population is predominately low-to-moderate income ("lmi") level households which comprises approximately 66% of the organization's clientele. Additionally, 57% of the agency's clients are minorities. In 2019, credit.org provided direct services to 29,695 consumers, including 8,316 in financial literacy and education programs, 9,436 in credit and debt management programs, 4,231 in housing counseling programs and 7,622 in distance education programs that serve prospective homebuyers nationwide with an on-line homebuyer course and a one-on-one advisory session through a technologically-advanced phone counseling center to address the individual's unique housing goals.”

“Public awareness and educational materials credit.org promotes and seeks to raise public awareness of its counseling services and the availability of its financial literacy programs and materials through various forms of media, including printed materials and the internet. In 2019, these efforts resulted in 502,396 unique visitors to credit.org's educational content and blog, and 41,201 various financial educational resources were accessed by online visitors. In furtherance of its exempt mission, credit.org undertook the following exempt purpose activities: item a - counseling and education credit.org's counseling and educational services include: budget counseling; educational programs, seminars and materials for financially distressed consumers to assist with money management, debt education and understanding credit; pre-bankruptcy counseling; pre-discharge debtor education; reverse mortgage and housing counseling; foreclosure prevention housing counseling; and general credit and debt counseling. Credit.org's services are free, with the exception of pre-bankruptcy counseling, pre-discharge debtor education, pre-purchase homebuyer education, credit report review, some homebuyer education courses and reverse mortgage counseling for which a minimal charge is made. And with respect to these fee services, credit.org coaches/counselors have always had the discretion to waive or reduce related charges through consideration of an individual's personal financial situation and ability to pay based on the budget analysis reviewed by the counselor. In 2019, credit.org waived fees of $9,490 for 50 debtor-education financial sessions and 172 pre-bankruptcy counseling sessions. Housing counseling credit.org is approved by u.s. Department of housing and urban development as a comprehensive housing counseling agency and provides first time homebuyer education, landlord/tenant counseling, pre-purchase and post-home buyer counseling as well as reverse mortgage counseling. Budget and debt counseling credit.org provides general financial literacy counseling designed to help counselees understand the causes of financial stress and learn how to track and evaluate spending. The counseling service includes the creation of a step-by-step personalized budget, tips to help stick to it and an action plan and options to help counselees manage their finances more effectively. Debt management plan credit.org offers a debt repayment plan (i.e. Debt management plan ["dmp"]) in situations where such a plan is the most beneficial course of action for a particular counselee as an incidental feature of budget and debt counseling. Credit.org uses its dmp program as an educational tool that provides individuals with an opportunity to develop the discipline and financial management skills necessary to overcome their financial problems and learn new spending and favorable credit management habits. Item b - community education workshops in 2019, the credit.org team conducted 80 workshops and educated 1,020 consumers in face-to-face settings in southern california. Through the financial instructional training ("fit") academy, the agency's e-learning portal, 5,231 consumers signed on to gain important financial knowledge via the financial literacy platform. In total, the team provided financial education to 6,251 consumers. Award winning education in 2019 credit.org won runner-up for the national foundation for credit counseling "outstanding individual housing counselor of the year award" for our accomplishment in the pursuit of excellence and promotion of consumer financial health. Mobile outreach valuable education ("move") credit.org provides and promotes financial literacy education through classes and workshops held at credit.org locations and through credit.org's move initiative. Through credit.org's move initiative the agency travels to social service organizations, community groups, school or college campuses, military bases, and businesses to conduct face-to-f”