Civic Intelligence

Incharge Financial Solutions

990 • Fiscal year 2023 • EIN 33-0770440

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 13, 2024

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

59th percentile

0.27x

Higher debt load relative to assets than 59% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

39th percentile

0.16x

Higher debt load relative to revenue than 39% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

67th percentile

$239,213

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

4th percentile

-20%

Faster asset growth than 4% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

4.5%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$8,338,382

Down $2,748,841 (-25%) from 2021

Net Assets

Down

$6,107,726

Down $2,879,640 (-32%) from 2021

Liabilities

Up

$2,230,656

Up $130,799 (+6.2%) from 2021

Revenue

Down

$14,313,613

Down $4,045,625 (-22%) from 2021

Expenses

Up

$15,787,525

Up $1,406,289 (+9.8%) from 2021

Net Income

Down

-$1,473,912

Down $5,451,914 (-137%) 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 2023: $8,338,382Liabilities 2023: $2,230,656Net Assets 2023: $6,107,7262023Assets 2024: $8,464,175Liabilities 2024: $2,299,213Net Assets 2024: $6,164,9622024

Highlighted filing

2023

Assets$8,338,382
Liabilities$2,230,656
Net Assets$6,107,726

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 2023: $14,313,613Expenses 2023: $15,787,525Net Income 2023: -$1,473,9122023Revenue 2024: $15,025,410Expenses 2024: $15,018,843Net Income 2024: $6,5672024

Highlighted filing

2023

Revenue$14,313,613
Expenses$15,787,525
Net Income-$1,473,912
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 13, 2024
Return Version
2023v5.1
Gross Receipts
$23,190,709
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 counseling 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$6,394,811$4,921,751▼ $1,473,060
Savings and Temporary Cash Investments$105,884$1,039,661▲ $933,777
Land, Buildings, and Equipment, Net$470,690$767,870▲ $297,180
Cash and Non-Interest-Bearing Accounts$1,372,610$417,189▼ $955,421
Investments Other Securities$368,948--
Pledges and Grants Receivable$54,910$162,500▲ $107,590
Accounts Receivable$189,769$75,660▼ $114,109
Prepaid Expenses and Deferred Charges$52,949$69,077▲ $16,128
Total Assets$10,402,259$8,338,382▼ $2,063,877
Other Assets Total$1,391,688$884,674▼ $507,014
Liabilities
Accounts Payable and Accrued Expenses$1,361,337$1,087,357▼ $273,980
Escrow Account Liability$661,716$884,674▲ $222,958
Other Liabilities$729,972$0▼ $729,972
Deferred Revenue$258,625$258,625→ $0
Total Liabilities$3,011,650$2,230,656▼ $780,994
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,490,609$6,107,726▼ $382,883
Net Assets With Donor Restrictions$900,000$0▼ $900,000
Total Net Assets Fund Balance$7,390,609$6,107,726▼ $1,282,883
Total Liabilities and Net Assets / Fund Balance$10,402,259$8,338,382▼ $2,063,877

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$707,086$6,307,543$7,014,629
Equipment$60,784$2,057,887$2,118,671
Other Assets Org$884,674--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Etta W MoneyPresident & CEO Until MayFT$176,507$62,706$239,213
Loretta RoneyPresident & CEO as of JuneFT$220,719$12,506$233,225
Michael C Leon Board Sec asOf June and VP of OperationsFT$174,840$29,536$204,376
Sasan Saleh NassabDirector of Quality and CompliancePT$120,352$28,605$148,957
William MalseedSecretary/treasurer Until MayFT$129,815$10,387$140,202
Billy SextonIt Infrastructure ManagerFT-$137,817$137,817
Nidia Mercado DirectorOf Quality and ComplianceFT$114,358$22,807$137,165
Ahmed MoyeenSoftware Engineer SeniorFT-$134,570$134,570
Sherana BakhshPmo/quality Assurance ManagerFT-$120,946$120,946
Susanna KondrackiTrustee-$2,628-$2,628
Robert RuizTrustee-$1,725-$1,725
Jeff TasseyTrustee-$1,661-$1,661
Carey TarbellTrustee-$1,615-$1,615
Patricia WexlerBoard Chair-$1,615-$1,615
Monika WilczakTrustee as of March-$722-$722

Board Members and Trustees

NameTitle
Karen CarlsonPresident of Education Foundation
Shawn WalshVice President of Relationship
Seiji Shiraishi Board TreasAnd Director of Accounting and Finance
Ricardo Viera SeniorDirector of Information Technology
Bhavesh VadhaniTrustee
Kristen SolesTrustee
Robert GallTrustee
James HarrisTrustee Until March

Highest Paid Contractors

ContractorServicesLocationCompensation
Google LLCPublic Service Announcements13169 COLLECTION CENTER DRIVE, Chicago, IL 60693$1,302,007
National Debt Relief LLCMarketing Services180 MAIDEN LANE 30TH FLOOR, New York, NY 10038$609,480
NfccManagement Services2000 M STREET NW STE 505, Washington, DC 20036$189,291
Knucklepuck Holding LLCConsultants189 S ORANGE AVENUE, Orlando, FL 32801$188,063
Kpf Management LLCManagement Services999 DOUGLAS AVE, Altamonte Springs, FL 32714$180,699
Revenue and Support

Revenue Composition

Contributions and Grants
$5,389,522
Program Service Revenue
$8,863,338
Investment Income
$58,245
Other Revenue
$2,508
All Other Contributions
$5,389,522
Change in Net Assets
$-1,473,912

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,313,613
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$191,029
Total Revenue per Audited Statements
$14,504,642
Total Revenue per Form 990
$14,313,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,216,228
Salaries, Compensation, and Employee Benefits$5,571,297
Total Fundraising Expense$37,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$4,520,065$441,989$4,378$4,966,432
Other Salaries and Wages$2,958,708$317,305$11,192$3,287,205
Current Officers, Directors, Trustees, and Key Employees$1,194,774$127,158$4,482$1,326,414
Other Employee Benefits$458,284$49,553$1,734$509,571
Payroll Taxes$312,636$33,568$1,183$347,387
Occupancy$203,356$21,835$769$225,960
Fees for Services Other$146,190-$754$146,944
All Other Expenses$102,096$10,961$387$113,444
Pension Plan Contributions$90,582$9,796$342$100,720
Information Technology$86,701$9,310$328$96,339
Other Expenses$70,200$7,536$266$78,002
Fees for Services Accounting$43,167$13,052-$56,219
Travel$28,381$3,048$107$31,536
Depreciation Depletion$22,110$2,374$84$24,568
Office Expenses$7,747$832$30$8,609
Fees for Services Legal-$8,348-$8,348
Insurance$60$7-$67
Total Functional Expenses$14,684,406$1,065,820$37,299$15,787,525

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,787,525
Total Expenses per Audited Statements$15,787,525
Total Expenses per Form 990$15,787,525
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 2023 AS A CUSTOMER SUPPORT REPRESENTATIVE.No$32,894
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 2023 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
CEO
Phone
4072917770
Signed
2024-09-13
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
126
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 843 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 UNTIL MARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE AS OF MARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT & CEO UNTIL MAY
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY/TREASURER UNTIL MAY
IRS990/Form990PartVIISectionAGrp/TitleTxt12OF JUNE AND VP OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT & CEO AS OF JUNE
IRS990/Form990PartVIISectionAGrp/TitleTxt14AND DIR. OF ACCOUNTING AND FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR OF INFORMATION TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt16PRESIDENT OF EDUCATION FOUNDATION
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDENT OF RELATIONSHIP
IRS990/Form990PartVIISectionAGrp/TitleTxt18SOFTWARE ENGINEER SENIOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19IT INFRASTRUCTURE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt20PMO/QUALITY ASSURANCE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt21OF QUALITY AND COMPLIANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF QUALITY AND COMPLIANCE
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IRS990/OtherExpensesGrp/Desc1PUBLIC AWARENESS
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3TRAINING AND DEVELOPMEN
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