Consumer Education Services Inc

Organization Overview

Consumer Education Services Inc is located in Raleigh, NC. The organization was established in 1999. 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 06/2022, Consumer Education Services Inc employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consumer Education Services 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 06/2022, Consumer Education Services Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $5.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

CONSUMER EDUCATION SERVICES, INC. EMPOWERS PEOPLE TO OVERCOME THEIR FINANCIAL CHALLENGES AND LEAD FINANCIALLY-HEALTHY LIVES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THIS PROGRAM ASSISTS CLIENTS IN MANAGING THEIR PERSONAL FINANCES THROUGH THE PROVISION OF DEBT MANAGEMENT SERVICES, CREDIT COUNSELING, EDUCATION AND TRAINING, AND BUDGET PLANNING. CESI OFFERS ASSISTANCE OVER THE PHONE, ONLINE, AND IN PERSON. CERTIFIED CREDIT COUNSELOR'S DISCUSS VARIOUS OPTIONS WITH CLIENTS REGARDING FINANCIAL DECISIONS. THEY ASSESS INDIVIDUALS' PERSONAL FINANCIAL SITUATIONS AND ASSIST THEM IN DEVELOPING A BUDGET IN ORDER TO IMPROVE THEIR OVERALL CREDIT. DURING THE FISCAL YEAR ENDING JUNE 30, 2022 APPROXIMATELY 12,266 FINANCIALLY DISTRESSED INDIVIDUALS RECEIVED CREDIT COUNSELING AND FREE EDUCATIONAL RESOURCE MATERIALS.


THE HUD HOUSING PROGRAM OFFERS A WIDE VARIETY OF HOUSING COUNSELING SERVICES TO POTENTIAL HOMEBUYERS, RENTERS AND CURRENT HOMEOWNERS. THESE SERVICES INCLUDE EDUCATION THROUGH GROUP SESSIONS AND ON-ON-ONE COUNSELING. THE AREAS OF FOCUS ARE PRE-PURCHASE EDUCATION AND COUNSELING, RENTAL COUNSELING, FORECLOSURE PREVENTION COUNSELING, AND REVERSE MORTGAGE COUNSELING. CESI PROVIDED HOUSING STABILITY COUNSELING PROGRAM WITH ASSISTANCE TO 1,207 HOMEOWERS AND RENTERS BY REACHING OUT TO LOAN SERVICERS, LANDLORDS, EMERGENCY RENTAL ASSISTANCE FUNDERS, AND LOCAL/STATE HOUSING ASSISTANCE FUNDING PROGRAMS. CLIENTS WERE ALSO ASSISTED WITH BUDGETING NEEDS AND CREDIT REVIEW AND RECOMMENDATIONS AS WARRANTED.


COMMUNITY EDUCATION OUTREACH- CESI SUPPORTS THE ADVANCEMENT OF FINANCIAL LITERACY EDUCATION WITHIN LOCAL AND STATE COMMUNITIES THROUGH A STRONG COMMUNITY OUTREACH PROGRAM. OUTREACH EFFORTS INCLUDE GROUP EDUCATION PROGRAMS, USUALLY IN PARTNERSHIP WITH LOCAL COMMUNITY AGENCIES OR EDUCATIONAL INSTITUTIONS. THE SECOND PART OF THE CESI OUTREACH EFFORT IS IN THE FORM OF FREE INDIVIDUAL FINANCIAL COUNSELING AT THE CESI CENTER WITH AN ACCREDITED CESI COUNSELOR. DURING THE YEAR ENDED JUNE 30, 2022, CESI CONDUCTED 58 CLASSES ASSISTING APPROXIMATELY 729 INDIVIDUALS. CESI OFFERS NUMEROUS FINANCIAL EDUCATIONAL RESOURCES, WHICH ARE EASILY ACCESSED BY ALL CONSUMERS AND NOT JUST CESI CUSTOMERS. THESE RESOURCES ARE DESIGNED TO HELP CONSUMERS BETTER MANAGE THEIR FINANCES AND TO ACHIEVE THE GOAL OF BECOMING DEBT FREE.IN ADDITION, CONSUMERS MAY PARTICIPATE IN CESI'S FREE ONLINE COURSES THROUGH CESI COMPREHENSIVE GUIDE TO PERSONAL FINANCE, WHICH PROVIDES A COMPREHENSIVE FINANCIAL LITERACY CURRICULAM THAT OFFERS SELF-PACED INSTRUCTIONAL SESSIONS. THIS PROGRAM ASSISTS CONSUMERS WITH THE NECESSARY SKILLS TO IMPROVE THEIR FINANCIAL MANAGEMENT PRACTICES THAT INCLUDE DEBT MANAGEMENT, MINIMIZING CREDIT CARD SPENDING, AND DEVELOPING A BUDGET. CESI ALSO OFFERS A VARIETY OF EDUCATIONAL RESOURCES THAT INCLUDE PERSONAL FINANCIAL CALCULATORS, A BI-MONTHLY E-NEWSLETTER, EDUCATIONAL BLOGS ON ON-LINE COMMUNITY MESSAGE BOARDS, AS WELL AS VARIOUS E-LEARNING RESOURCES SUCH AS VIDEO WEBCASTS.


BANKRUPTCY COUNSELING- CESI OFFERS BANKRUPTCY COUNSELING FOR INDIVIDUALS IN NEED OF EITHER PRE-FILING CREDIT COUNSELING OR POST-FILING DEBTOR EDUCATION. BEFORE AN INDIVIDUAL FILES FOR CHAPTER 7 OR CHAPTER 13 BANKRUPTCY, A CREDIT COUNSELING CERTIFICATE FROM AN EXECUTIVE OFFICE FOR UNITED STATES TRUSTEES ( EOUST) APPROVED AGENCY IS REQUIRED. CESI PROVIDES THE REQUIRED COUNSELING FOR OUR CLIENTS IN ORDER TO OBTAIN THE CERTIFICATE. THIS CAN BE DONE BOTH ONLINE AND BY PHONE. AFTER COMPLETING THE CREDIT COUNSELING AND FILING FOR BANKRUPTCY, INDIVIDUALS ARE REQUIRED TO COMPLETE A DEBTOR EDUCATION COURSE BY AN EOUST APPROVED PROVIDER. THIS COURSE IS OFFERED BOTH ONLINE AND BY PHONE. BOTH PRE-CREDIT COUNSELING AND POST-CREDIT COUNSELING ARE PERFORMED BY CERTIFIED COUNSELORS.CESI ALSO PROVIDES SUPPORT OF THE CAROLINA COMMUNITY IMPACT, INC'S PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Croxson
President/ceo
$235,952
Jean Elias
Vice President Of Marketin
$159,926
Steven Cole
Treasurer
$102,980
Diane Chen
Chairman / Secretary
$0
Alexis Nelson
Board Member
$0
Wayne Stallings
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Google
Marketing
$212,848
Envoy Media
Marketing
$103,257
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $793,400
All other contributions, gifts, grants, and similar amounts not included above$1,243,606
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,037,006
Total Program Service Revenue$2,799,972
Investment income $439,332
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,184,809
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,529,671

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Consumer Education Services Inc has recieved totaling $290,941.

Awarding OrganizationAmount
Consumer Credit Counseling Service Of San Francisco

Concord, CA

PURPOSE: HOUSING COUNSELING & EDUCATION

$168,000
National Foundation For Credit Counseling Inc

Washington, DC

PURPOSE: FINANCIAL EDUCATION SUPPORT

$104,844
Consumer Credit Counseling Service Of Maryland And Delaware Inc

Columbia, MD

PURPOSE: COMPREHENSIVE HOUSING

$18,097
View Grant Recipient Profile

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