Family Credit Counseling Service Inc
- Assets
- $9.6m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 55
- Location
- Chicago, IL
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 36-4060853
Organization Overview
Family Credit Counseling Service Inc, operating under the name Family Credit Management Services, is located in Chicago, IL. The organization was established in 1996. 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, Family Credit Management Services employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Credit Management Services 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, Family Credit Management Services generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $5.8m during the year ending 12/2021. While expenses have increased by 3.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FAMILY CREDIT COUNSELING SERVICE INC. (FCCS) WAS ESTABLISHED TO PROVIDE FINANCIAL EDUCATION FOR CONSUMERS, WITH AN EMPHASIS ON CONSUMERS WITH LOW INCOME AND/OR EXCESSIVE AMOUNTS OF DEBT.
Describe the Organization's Program Activity:
COUNSELING SERVICES: CONSUMERS CAN RECEIVE COUNSELING SERVICES VIA TELEPHONE, ELECTRONIC COMMUNICATION, OR IN-PERSON VISITS AT ANY OF OUR LOCATIONS. SERVICES PROVIDED INCLUDE DEVELOPING A HOUSEHOLD BUDGET, CREDIT REPORT REVIEWS, PRE-PURCHASE HOUSING COUNSELING, AND ANY OTHER TOPIC RELATED TO THEIR OVERALL FINANCIAL SITUATION. THE ABOVE SERVICES ARE OFFERED AT NO COST TO THE CONSUMER. IN ADDITION, WE ARE APPROVED BY THE DEPARTMENT OF JUSTICE TO PROVIDE PRE-FILING BANK- RUPTCY COUNSELING AND ISSUE COUNSELING CERTIFICATES IN COMPLIANCE WITH THE BANKRUPTCY CODE.
EDUCATION SERVICES: FCCS' EDUCATIONAL OUTREACH INCLUDES OUR PERSONAL FINANCE MADE EASY WORKBOOK AND CLASSES, A CHILDREN'S BOOK CALLED "KATHRYN AND ELIZABETH GO SHOPPING", THE STOP. THINK. SAVE! CAMPAIGN, VARIOUS SEMINARS AND EVENTS HELD IN CONJUNCTION WITH ORGANIZATIONS INCLUDING LOCAL HOUSING AUTHORITIES, HABITAT FOR HUMANITY, AND TV BROADCASTS ON CHICAGO AREA NETWORK TELEVISION. ADDITIONAL EDUCATION MATERIALS OFFERED INCLUDE A WIDE VARIETY OF HOME STUDY EDUCATIONAL MATERIAL, OUR RESUME WRITING WORKSHOPS, AND A WEALTH OF FINANCIAL TOOLS AND MATERIALS AVAILABLE AT WWW.FAMILYCREDIT.ORG AND WWW.STOPTHINKSAVE.ORG. MOST OF THE ABOVE SERVICES ARE OFFERED AT NO COST TO THE CONSUMER.
DEBT MANAGEMENT PROGRAM: A SMALL PERCENTAGE OF CONSUMERS WHO CONTACT FAMILY CREDIT FOR COUNSELING OR EDUCATIONAL ASSISTANCE ALSO DECIDE TO ENROLL IN OUR DEBT MANAGEMENT PROGRAM. FAMILY CREDIT ALSO PROVIDES ONGOING COUNSELING TO PARTICIPANTS WHICH MAY INCLUDE SUBSEQUENT REVIEWS OF HOUSEHOLD BUDGETS AND THE CONSUMER'S OVERALL FINANCIAL SITUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcauliffe Ms President | Officer | 50 | $405,707 |
Elizabeth Schomburg Ms Senior VP & Treas | Officer | 50 | $216,505 |
Sarabeth Mcauliffe Ms Chief Marketing Officer | 50 | $148,042 | |
Carol Parlin Director | Trustee | 1 | $0 |
Peyton Mendez Director | Trustee | 1 | $0 |
Arthur Croney Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $441,087 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,026,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,467,843 |
| Total Program Service Revenue | $5,797,185 |
| Investment income | $273,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$11,467 |
| Net Gain/Loss on Asset Sales | $166,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,733,487 |
| 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. | $695,843 |
| Compensation of current officers, directors, key employees. | $472,647 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,917,742 |
| Pension plan accruals and contributions | $69,467 |
| Other employee benefits | $272,707 |
| Payroll taxes | $183,592 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,326 |
| Fees for services: Accounting | $41,055 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,692 |
| Advertising and promotion | $1,394,375 |
| Office expenses | $230,547 |
| Information technology | $471,616 |
| Royalties | $0 |
| Occupancy | $97,868 |
| Travel | $8,957 |
| 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 | $111,168 |
| Insurance | $52,183 |
| All other expenses | $179,166 |
| Total functional expenses | $5,808,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $967,223 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,583 |
| 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 | $192,401 |
| Net Land, buildings, and equipment | $1,694,325 |
| Investments—publicly traded securities | $6,708,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $671 |
| Total assets | $9,585,248 |
| Accounts payable and accrued expenses | $413,223 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $278,482 |
| 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 | $0 |
| Total liabilities | $691,705 |
| Net assets without donor restrictions | $8,893,543 |
| Net assets with donor restrictions | $0 |
| 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 | $9,585,248 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Family Credit Counseling Service Inc has recieved totaling $30,601.
| Awarding Organization | Amount |
|---|---|
Homefree Usa Inc Landover, MD PURPOSE: COUNSELING | $30,601 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Iowa Community Action Organization Mason City, IA | $4,791,194 | $9,251,857 |
Family Credit Counseling Service Inc Chicago, IL | $9,585,248 | $7,733,487 |
Northwest Side Housing Center Chicago, IL | $2,986,371 | $4,446,523 |
Usa Cares Inc Louisville, KY | $1,622,546 | $2,426,137 |
Consumer Credit Of Des Moines Des Moines, IA | $2,361,855 | $1,382,576 |
Securefutures Foundation Inc Milwaukee, WI | $1,756,343 | $1,837,399 |
Moneythink Chicago, IL | $2,812,630 | $2,607,050 |
Community Life Line East Saint Louis, IL | $0 | $1,259,737 |
Prosperity Connection St Louis, MO | $1,393,127 | $1,257,430 |
Center For Siouxland Sioux City, IA | $2,429,304 | $818,535 |
A Debt Coach Credit Counseling Service Inc Florence, KY | $126,947 | $911,124 |
Advocacy Programs Of Family Service Association Of Sheboygan Inc Sheboygan, WI | $1,760,753 | $891,187 |