Civic Intelligence

Incharge Financial Solutions

990 • Fiscal year 2022 • EIN 33-0770440

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 10, 2023

5750 Major Blvd 300Orlando, FL 32819

(407) 291-7770

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.29x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

50th percentile

0.22x

Higher debt load relative to revenue than 50% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

17th percentile

-9.5%

Higher net margin than 17% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

89th percentile

$448,979

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

28th percentile

-6.2%

Faster asset growth than 28% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

14th percentile

-25%

Faster revenue growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$10,402,259

Down $684,964 (-6.2%) from 2021

Net Assets

Down

$7,390,609

Down $1,596,757 (-18%) from 2021

Liabilities

Up

$3,011,650

Up $911,793 (+43%) from 2021

Revenue

Down

$13,703,408

Down $4,655,830 (-25%) from 2021

Expenses

Up

$15,004,473

Up $623,237 (+4.3%) from 2021

Net Income

Down

-$1,301,065

Down $5,279,067 (-133%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $8,448,465Liabilities 2010: $1,162,263Net Assets 2010: $7,286,2022010Assets 2011: $7,036,106Liabilities 2011: $1,914,217Net Assets 2011: $5,121,8892011Assets 2012: $7,834,987Liabilities 2012: $2,361,971Net Assets 2012: $5,473,0162012Assets 2013: $8,118,399Liabilities 2013: $2,523,961Net Assets 2013: $5,594,4382013Assets 2014: $6,378,131Liabilities 2014: $2,264,114Net Assets 2014: $4,114,0172014Assets 2015: $5,035,758Liabilities 2015: $1,870,420Net Assets 2015: $3,165,3382015Assets 2017: $5,332,430Liabilities 2017: $2,571,257Net Assets 2017: $2,761,1732017Assets 2018: $6,405,414Liabilities 2018: $3,053,930Net Assets 2018: $3,351,4842018Assets 2021: $11,087,223Liabilities 2021: $2,099,857Net Assets 2021: $8,987,3662021Assets 2022: $10,402,259Liabilities 2022: $3,011,650Net Assets 2022: $7,390,6092022Assets 2024: $8,464,175Liabilities 2024: $2,299,213Net Assets 2024: $6,164,9622024

Highlighted filing

2022

Assets$10,402,259
Liabilities$3,011,650
Net Assets$7,390,609

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $20,001,4552010Expenses 2011: $20,865,0882011Expenses 2012: $20,311,1672012Revenue 2013: $16,948,781Expenses 2013: $16,810,770Net Income 2013: $138,0112013Revenue 2014: $14,933,759Expenses 2014: $16,393,416Net Income 2014: -$1,459,6572014Revenue 2015: $15,026,293Expenses 2015: $15,977,232Net Income 2015: -$950,9392015Revenue 2017: $15,186,997Expenses 2017: $15,053,090Net Income 2017: $133,9072017Revenue 2018: $16,065,326Expenses 2018: $15,466,298Net Income 2018: $599,0282018Revenue 2021: $18,359,238Expenses 2021: $14,381,236Net Income 2021: $3,978,0022021Revenue 2022: $13,703,408Expenses 2022: $15,004,473Net Income 2022: -$1,301,0652022Revenue 2024: $15,025,410Expenses 2024: $15,018,843Net Income 2024: $6,5672024

Highlighted filing

2022

Revenue$13,703,408
Expenses$15,004,473
Net Income-$1,301,065
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 10, 2023
Return Version
2022v5.0
Gross Receipts
$17,251,251
Mission and Program Overview

Mission

Incharge debt solutions helps consumers achieve financial balance and move closer to their dreams.

Incharge debt solutions (ids) provides credit, bankruptcy, and housing services to the general public. These services include educational materials and resources, solutions-based counseling, client debt management programs, bankruptcy credit counseling and pre-discharge debtor education services, foreclosure prevention, homebuyer education, pre-purchasing housing counseling, and other financial literacy activities for the benefit of the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,464,911$6,394,811▼ $70,100
Cash and Non-Interest-Bearing Accounts$1,812,334$1,372,610▼ $439,724
Land, Buildings, and Equipment, Net$611,958$470,690▼ $141,268
Investments Other Securities$909,783$368,948▼ $540,835
Accounts Receivable$49,798$189,769▲ $139,971
Savings and Temporary Cash Investments$105,816$105,884▲ $68
Pledges and Grants Receivable$61,582$54,910▼ $6,672
Prepaid Expenses and Deferred Charges$58,073$52,949▼ $5,124
Total Assets$11,087,223$10,402,259▼ $684,964
Other Assets Total$1,012,968$1,391,688▲ $378,720
Liabilities
Accounts Payable and Accrued Expenses$878,264$1,361,337▲ $483,073
Other Liabilities$785,714$729,972▼ $55,742
Escrow Account Liability$227,254$661,716▲ $434,462
Deferred Revenue$208,625$258,625▲ $50,000
Total Liabilities$2,099,857$3,011,650▲ $911,793
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,087,366$6,490,609▼ $1,596,757
Net Assets With Donor Restrictions$900,000$900,000→ $0
Total Net Assets Fund Balance$8,987,366$7,390,609▼ $1,596,757
Total Liabilities and Net Assets / Fund Balance$11,087,223$10,402,259▼ $684,964

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$402,759$6,559,562$6,962,321
Equipment$67,931$2,074,401$2,142,332
Other Assets Org$729,972--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Etta W MoneyPresident & CEOFT$334,674$114,305$448,979
Soraia DearaujoV.p. of OperationsFT$189,343$65,084$254,427
William MalseedSecretary/treasurerFT$198,392$53,494$251,886
Michael C LeonSr. Director of OperationsFT$154,827$28,674$183,501
Nidia Mercado Dir ofIndustry Relations & Cust. SupportFT$108,044$19,867$127,911
Ahmed MoyeenSr. Software EngineerFT-$127,164$127,164
Billy SextonNetwork AdministratorFT-$126,741$126,741
Sherana BakhshBus. Sys. Analyst/qa LeadFT-$117,622$117,622
Robert DarrochSenior Software EngineerFT-$105,944$105,944
Susanna KondrackiTrustee as of June 2022-$600-$600

Board Members and Trustees

NameTitle
Patricia WexlerBoard Chair
Shawn WalshSr. Director of Business Dev.
Karen CarlsonSr. Director of Educ/dig Mkt
Bhavesh VadhaniTrustee
Carey TarbellTrustee
James HarrisTrustee
Jeff TasseyTrustee
Kristen SolesTrustee
Robert RuizTrustee
Robert GallTrustee as of June 2022
Jake DavidowTrustee Until May 2022

Highest Paid Contractors

ContractorServicesLocationCompensation
Google LLCPublic Service Announcements13169 COLLECTION CENTER DRIVE, Chicago, IL 60693$673,691
National Debt Relief LLCMarketing Services180 MAIDEN LANE 30TH FLOOR, New York, NY 10038$398,970
Quinstreet Pl INCMarketing ServicesQSPL DEPT LA 24814, Pasadena, CA 91185$385,275
RemxStaffing ServicesPO BOX 102332, Atlanta, GA 30368$272,434
Knucklepuck Holding LLCConsultants189 S ORANGE AVENUE, Orlando, FL 32801$174,000
Revenue and Support

Revenue Composition

Contributions and Grants
$5,036,784
Program Service Revenue
$8,771,927
Investment Income
$-105,303
Other Revenue
$0
All Other Contributions
$5,036,784
Change in Net Assets
$-1,301,065

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,703,408
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-295,692
Total Revenue per Audited Statements
$13,407,716
Total Revenue per Form 990
$13,703,408
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,315,313
Salaries, Compensation, and Employee Benefits$5,677,155
Total Fundraising Expense$20,765
Grants and Similar Amounts Paid$12,005
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$4,281,858$545,486$1,879$4,829,223
Other Salaries and Wages$3,062,704$398,434$6,963$3,468,101
Current Officers, Directors, Trustees, and Key Employees$1,202,422$155,894$2,734$1,361,050
Other Employee Benefits$370,928$46,300$847$418,075
Payroll Taxes$278,689$34,786$636$314,111
Fees for Services Other$183,323-$531$183,854
Occupancy$116,466$14,536$266$131,268
All Other Expenses$111,505$13,916$255$125,676
Pension Plan Contributions$102,758$12,826$234$115,818
Information Technology$72,889$9,100$166$82,155
Other Expenses$66,747$8,330$152$75,229
Fees for Services Accounting$25,113$29,020-$54,133
Fees for Services Legal$24,060--$24,060
Travel$15,404$1,923$35$17,362
Grants to Domestic Orgs$12,005--$12,005
Office Expenses$7,647$955$17$8,619
Depreciation Depletion$5,480$683$13$6,176
Insurance$527$66$1$594
Total Functional Expenses$13,693,634$1,290,074$20,765$15,004,473

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,004,473
Total Expenses per Audited Statements$15,004,473
Total Expenses per Form 990$15,004,473
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Aiccca Dba Financial Counseling Association of AmericaBoca Raton, FL501(c)(3)In Support of Fair Fee Advocacy Project$8,000
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
William MalseedSecretary/treasurerWILLIAM MALSEED'S DAUGHTER RACHEL MALSEED WAS EMPLOYED BY IDS DURING 2022 AS A CUSTOMER SUPPORT REPRESENTATIVE.No$32,182
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$729,972
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The treasurer, audit committee, the president & ceo of incharge debt solutions, and the full board review and approve the form 990 prior to its filing.

Form 990, Part VI, Section B, Line 12C

Officers, trustees and key employees are required to disclose any potential conflicts of interest on a conflict of interest form that is completed annually. Potential conflicts are to be reported to the organization as soon as known. Follow-up is performed to ensure all conflict of interest forms are received. All noted items on conflict of interest forms received from other than trustees are investigated before providing the forms to the governance committee. Noted items on conflict of interest forms received from trustees are investigated by the governance committee.

Form 990, Part VI, Section B, Line 15

The organization has a separate board appointed compensation committee that determines the salary of the officers on an annual basis. Salary comparability data and performance is reviewed as the basis for officer compensation annually. On a regular basis, an independent compensation consultant may be used to perform a compensation survey or study. Key employees may receive salary increases based on an evaluation of performance. Periodically, key employees' salaries are compared to market data. The last compensation review was conducted in february 2023.

Form 990, Part VI, Section C, Line 18

The organization makes its form 1023 and form 990 available to the public upon request. The organization's form 990 is also available on guidestar.org.

Form 990, Part VI, Section C, Line 19

The organization provides copies of its governing documents, conflict of interest policy, and financial statements as valid requests are received.

FORM 990, PART VII, SECTION B AND PART IX, LINE 24A AND 24B:

A portion of amounts paid for public awareness in 2022 have been allocated to educational services and materials due to educational content received and counseling services provided that resulted from amounts expended.

Filing and Contact Details

Filer

Filer Name
Incharge Debt Solutions
EIN
33-0770440
Phone
4072917770
Address
5750 MAJOR BLVD 300, ORLANDO, FL 32819

Signing Officer

Name
Loretta Roney
Title
Current CEO
Phone
4072917770
Signed
2023-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Loretta Roney
Formed
1997
Legal Domicile
Nv
Voting Board Members
9
Independent Board Members
9
Employees
124
Volunteers
10

Preparer

Firm
Jm&m
Address
10500 LITTLE PATUXENT PARKWAY SUITE, 770, COLUMBIA, MD 21044
Preparer
Tina Peacher
Phone
4108840220
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization's audit committee is responsible for selecting an independent accountant and overseeing the audit of its financial statements on an annual basis. The process has not been changed during the tax year.

Financial Statement Notes

PART IV, LINE 2B:

Funds received from clients participating in the debt management program are held in various separate fbo bank accounts until they are distributed to creditors and contributions and fees are disbursed to ids. Certain states require that cash accounts be held in the same state that funds are received. All restricted cash accounts are not available for ids' operating expenses or creditors of ids.

PART X, LINE 2:

Ids believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

Raw XML AppendixShowing 400 of 838 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE UNTIL MAY 2022
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE AS OF JUNE 2022
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE AS OF JUNE 2022
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12V.P. OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt13SR. DIR. OF EDUC/DIG MKT
IRS990/Form990PartVIISectionAGrp/TitleTxt14SR. DIR. OF BUSINESS DEV.
IRS990/Form990PartVIISectionAGrp/TitleTxt15SR. DIRECTOR OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt16SENIOR SOFTWARE ENGINEER
IRS990/Form990PartVIISectionAGrp/TitleTxt17SR. SOFTWARE ENGINEER
IRS990/Form990PartVIISectionAGrp/TitleTxt18NETWORK ADMINISTRATOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19BUS. SYS. ANALYST/QA LEAD
IRS990/Form990PartVIISectionAGrp/TitleTxt20INDUSTRY RELATIONS & CUST. SUPPORT
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