National Foundation for Credit Counseling Inc

Analysis

National Foundation for Credit Counseling Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 1974, 52 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, National Foundation for Credit Counseling Inc reported income of $9.7m and spending of $11.0m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.8m to $9.7m (-1.1%), an average of -0.3% a year. 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, National Foundation for Credit Counseling Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 87th percentile within DC. Charities of a similar size with the same main cause include SF New Deal ($9.7m), Christian Family Care Agency Inc ($9.7m) and Marine Corps Heritage Foundation ($9.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $1.0m (9.2% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $7.7m against liabilities of $3.6m, net assets of $4.1m. It reported 37 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.