Consumer Credit and Budget Counseling Inc

Analysis

Consumer Credit and Budget Counseling Inc is a registered charity in United States, based in Marmora, NJ. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Consumer Credit and Budget Counseling Inc reported income of $2.6m and spending of $2.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.2m to $2.6m (-39%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 34%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Consumer Credit and Budget Counseling Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Boomcommunity Services Inc ($2.6m), Southwest Improvement Council Inc ($2.6m) and Horizons Unlimited of Palo Alto County Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $260k (10% of expenses). Other salaries and wages came to $749k. At year end it held assets of $836k against liabilities of $592k, net assets of $244k. It reported 25 employees.