Advantage Credit Counseling Service Inc
- Assets
- $2.0m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 32
- Location
- Pittsburgh, PA
- Founding
- 05/2002
- Data as of
- 12/2021
- EIN
- 25-1201741
Organization Overview
Advantage Credit Counseling Service Inc is located in Pittsburgh, PA. The organization was established in 2002. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Advantage Credit Counseling Service Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advantage Credit Counseling Service Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Advantage Credit Counseling Service Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OFFERS EDUCATION AND PROFESSIONAL CREDIT COUNSELING SERVICES TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANTAGE CREDIT COUNSELING SERVICE, INC. PROVIDES CREDIT-COUNSELING AND EDUCATIONAL SERVICES TO THE PUBLIC. SINCE ITS INCEPTION, THE AGENCY HAS ASSISTED THOUSANDS OF CLIENTS IN DEVELOPING A BUDGET, DETERMINING OPTIONS FOR REPAYING DEBTS AND WHEN APPROPRIATE, ADMINISTERING A DEBT MANAGEMENT PROGRAM. THE AGENCY ALSO PROVIDES FINANCIAL LITERACY EDUCATION TO ITS CLIENTS AND THE PUBLIC. ADDITIONALLY, THE AGENCY IS APPROVED BY HUD AND THE PENNSYLVANIA HOUSING FINANCE AGENCY TO PROVIDE COMPREHENSIVE HOUSING COUNSELING SERVICES. THIS INCLUDES COUNSELING PENNSYLVANIA HOMEOWNERS IN THREAT OF FORCLOSURE ON VARIOUS LOSS MITIGATION OPTIONS, INTERVENING WITH THEIR MORTGAGE LENDERS, AND ASSISTING WITH APPLICATIONS FOR THE STATE'S HOMEOWNERS EMERGENCY MORTGAGE ASSISTANCE PROGRAM. THE AGENCY COUNSELS FIRST TIME HOMEBUYERS ON THE ENTIRE HOME BUYING PROCESS AND PROVIDES REVERSE MORTGAGE COUNSELING TO SENIOR HOMEOWNERS.
THE AGENCY IS APPROVED BY THE PENNSYLVANIA HOUSING AND FINANCE AGENCY AND HUD TO CONDUCT COMPREHENSIVE HOUSING COUNSELING SERVICES. THE AGENCY PROVIDES COUNSELING AND EDUCATION FOR HOMEOWNERS IN THREAT OF FORECLOSURE, AS WELL AS INTERVENTION WITH LENDERS REGARDING LOSS MITIGATION OPTIONS SUCH AS LOAN MODIFICATIONS. THE AGENCY ALSO ASSISTS PENNSYLVANIA HOMEOWNERS WITH APPLYING FOR STATE EMERGENCY LOANS. THE AGENCY COUNSELS POTENTIAL HOMEBUYERS WHO HAVE BARRIERS THEY MUST OVERCOME TO QUALIFY FOR MORTGAGE LOANS. THE AGENCY ALSO COUNSELS INDIVIDUALS WHO HAVE QUALIFIED FOR A MORTGAGE BUT ARE REQUIRED TO PARTICIPATE IN COUNSELING AND EDUCATION.
THE AGENCY IS APPROVED BY THE EXECUTIVE OFFICE FOR THE UNITED STATES TRUSTEES TO PROVIDE PRE-FILING BANKRUPTCY COUNSELING AND PRE-DISCHARGE BANKRUPTCY EDUCATION. CONSUMERS CONTEMPLATING BANKRUPTCY MUST FIRST HAVE COUNSELING THROUGH AN APPROVED NON-PROFIT PROVIDER AS PRESCRIBED BY THE BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2005.
THE AGENCY PROVIDES EDUCATIONAL AND ADMINISTRATIVE SUPPORT FOR UTILITY COMPANIES ENERGY ASSISTANCE PROGRAMS; THESE PROGRAMS ARE GEARED TO LOW AND MODERATE INCOME CONSUMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary J Vollmer President & CEO | OfficerTrustee | 45 | $127,763 |
Mary L Loftus Director / Secretary | OfficerTrustee | 25 | $89,059 |
Talpha Harris Director | Trustee | 2 | $0 |
Michael J Clark Director | Trustee | 2 | $0 |
Jeffrey Davidek Director | Trustee | 2 | $0 |
Donald E Pringle Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Upmc Health Insurance Premiums | 12/30/15 | $153,705 |
Rj Equities Rent | 12/30/15 | $142,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $650,146 |
| All other contributions, gifts, grants, and similar amounts not included above | $688,939 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,339,085 |
| Total Program Service Revenue | $639,801 |
| Investment income | $2,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,981,242 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $215,727 |
| Compensation of current officers, directors, key employees. | $54,905 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,036,165 |
| Pension plan accruals and contributions | $25,748 |
| Other employee benefits | $158,449 |
| Payroll taxes | $91,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,343 |
| Fees for services: Accounting | $19,914 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $102,952 |
| Office expenses | $11,229 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $121,232 |
| Travel | $1,937 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,460 |
| Insurance | $26,907 |
| All other expenses | $39,855 |
| Total functional expenses | $2,217,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $393,569 |
| Savings and temporary cash investments | $1,375,910 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $89,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,686 |
| Net Land, buildings, and equipment | $54,991 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,986,787 |
| Accounts payable and accrued expenses | $38,427 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $237,756 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,541 |
| Total liabilities | $301,724 |
| Net assets without donor restrictions | $1,595,065 |
| Net assets with donor restrictions | $89,998 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,986,787 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Advantage Credit Counseling Service Inc has recieved totaling $59,741.
| Awarding Organization | Amount |
|---|---|
National Foundation For Credit Counseling Inc Washington, DC PURPOSE: FINANCIAL EDUCATION SUPPORT | $59,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Garden State Consumer Credit Counseling Inc Manalapan, NJ | $15,368,790 | $14,807,314 |
Trinity Credit Counseling Inc Cincinnati, OH | $7,906,378 | $6,728,875 |
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Ethiopian Tewahedo Social Services Columbus, OH | $1,906,040 | $4,712,779 |
Consumer Credit Counseling Service Of The Midwest Inc Gahanna, OH | $5,434,834 | $5,167,342 |
Hebrew Free Loan Society Inc New York, NY | $39,139,675 | $5,814,730 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumers Credit Counseling Service Of Rochester Inc Rochester, NY | $7,908,723 | $3,468,563 |
Start Small Think Big Inc New York, NY | $5,478,531 | $5,454,234 |
Money Management New York, NY | $8,835,712 | $4,309,180 |
Consumer Credit Counseling Service Of Maryland And Delaware Inc Columbia, MD | $10,074,197 | $2,872,253 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |