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Cambridge Credit Counseling Corp FY2022 filing

Tax-deductible

Agawam, MA501(c)(3)Since 1996Human Services EIN 04-3337726Revenue $7.1M in FY2022

On file with the IRScambridgecredit.org67 Hunt St Ste 305, 01001-1913 · Agawam, MATax-exempt since Dec 2012Publicly supported — 509(a)(2)

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The organization specializes in providing education and Counseling services to individuals and groups who are concerned about their financial situation. If appropriate, the organization also helps individuals establish affordable and convenient debt management plans to help them repay their debts in a timely manner. As a hud-approved housing Counseling agency, the organization also provides pre- and post-purchase Counseling, rental and reverse mortgage Counseling, and foreclosure intervention and default Counseling. The organization has also been approved by the executive office for u.s. Trustees to provide pre-filing Credit Counseling and pre-discharge debtor education to consumers filing for bankruptcy protection.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$802K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $131K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$802K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $604K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.7M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 10 voting members
Looks good: 8 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.1M
-10% vs prior year
Spent
$7.7M
To programs
71%
Net assets
$7.9M
By yearFY2021–FY2025
Revenue
$7.1M
FY2022▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2021$7.9M
FY2022$7.1M
FY2023$9.2M
FY2024$8.8M
FY2025$9.0M
Expenses
$7.7M
FY2022▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2021$6.9M
FY2022$7.7M
FY2023$7.9M
FY2024$9.2M
FY2025$9.9M
Net assets
$7.9M
FY2022▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2021$8.4M
FY2022$7.9M
FY2023$9.2M
FY2024$8.9M
FY2025$8.0M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $5.5M Management & general 29% · $2.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $802K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Christopher a Viale
President, CEO
$306,759Pt VII · Sec A
Thomas W Hebert
Treasurer, CFO
$167,033Pt VII · Sec A
William C Sole
General Manager
$119,886Pt VII · Sec A
Alfred H Colonna JR
Chairman/Clerk
$91,253Pt VII · Sec A
$20,000Pt VII · Sec A
$18,000Pt VII · Sec A
$16,000Pt VII · Sec A
$16,000Pt VII · Sec A

Christopher a Viale’s $290K as President & CEO is at the 97th percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Christopher a Viale$290,045$319,142$303,321$306,759$306,231
Thomas Hebert$175,063$170,692$165,886——
Thomas W Hebert———$167,033$167,702
William Sole$120,070$117,750$116,892——
William C Sole———$119,886$117,623
David Juzba JR$106,071$103,373$103,070——
Timothy Greenman$98,202$102,743$100,962——
Alfred H Colonna JR$92,428$90,290$87,570$91,253$88,425

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers financial education, debt management, and housing counseling to improve financial well-being.

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Provided by the organization

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3 programs · $5.5M · in their own filed words · FY2021
01

See schedule oindividualized educational financial counseling cambridge's tax-exempt status is based on the provision of financial education to the public. The organization's primary method of fulfilling this exempt purpose was accomplished through the provision of 31,625 individual educational financial counseling sessions.

$5.5Mprogram expense
02

See schedule ofinancial literacy education cambridge offers no-cost financial management education to individuals in a number of different ways. Cambridge provides outreach programs to members of its local community, including a significant number of non-profit social service agencies.

Pt IX · col B
03

See Schedule Ohousing Counseling

In 2010, after a comprehensive application and on-site examination process, cambridge became a hud-approved housing counseling agency. Nearly half of cambridge's counselors now hold one or more neighborworks certifications in foreclosure prevention counseling, pre- and post-purchase counseling, rental, and reverse mortgage counseling.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Homefree USA INCFY2024$542K
National Foundation for Credit Counseling INCFY2024$62K
Total grants receivedfrom 2 funders$604K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7.1M
Ln 12
Fees for servicesLn 2g$5.8M
Gifts and grantsLn 1h$1.3M
Money outPt IX
$7.7M
Ln 25
Programscol B$5.5M
Managementcol C$2.2M
Owns and owesPt X
$7.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$10.5M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
12
listed · VII A
PaidVII A12
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$528K
Fees for servicesLn 2g$5.8M
Total revenueLn 12$7.1M
Assets in detailPt X, end of year
CashLn 1$2.0M
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$899K
Total assetsLn 16$10.5M
LiabilitiesLn 26$2.7M
Net assetsLn 32$7.9M
OperationsPt I, VI
EmployeesI 578
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$2.5M$2.0M
Land, buildings, equipmentLn 10c$947K$899K
Total assetsLn 16$10.9M$10.5M
LiabilitiesLn 26$2.5M$2.7M
Net assetsLn 32$8.4M$7.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$928K$928K
Other salaries and wagesLn 7$3.2M$2.6M$593K
Pension plan contributionsLn 8$94K$63K$31K
Other employee benefitsLn 9$473K$379K$95K
Payroll taxesLn 10$300K$200K$100K
Legal feesLn 11b$500$500
Accounting feesLn 11c$54K$54K
Other fees for servicesLn 11g$210K$168K$42K
Office expensesLn 13$313K$257K$56K
Information technologyLn 14$288K$238K$51K
OccupancyLn 16$328K$219K$109K
Conferences, conventions and meetingsLn 19$28K$25K$3K
InterestLn 20$19K$19K
Depreciation, depletion and amortizationLn 22$347K$231K$116K
InsuranceLn 23$86K$72K$14K
Other expenses (24a–d)Ln 24$969K$962K$6K
Total functional expensesLn 25$7.7M$5.5M$2.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.0M$9.9M−$864K$8.0M 990 PDF
FY2024 $8.8M$9.2M−$371K$8.9M 990 PDF
FY2023 $9.2M$7.9M$1.4M$9.2M 990 PDF
FY2022 Viewing $7.1M$7.7M−$549K$7.9M 990 PDF
FY2021 $7.9M$6.9M$1.1M$8.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $7,101,425 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $811,859$1,261,134
I-9 Program service revenuePrior year $7,120,548$5,840,291
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $7,932,407$7,101,425
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,881,365$5,007,092
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,972,843$2,643,014
I-18 Total expensesPrior year $6,854,208$7,650,106
I-19 Revenue less expensesPrior year $1,078,199−$548,681
Part VI · Governance 8 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,101,425 across 5 lines filed
Lines not itemized here account for $2,256 of total revenue; see the IRS return.
VIII-1e Government grants$528,308
VIII-1f All other contributions, gifts and grants$732,826
VIII-1h Total contributions, gifts and grants$1,261,134
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,838,035$5,838,035
VIII-12 Total revenueRelated to mission $5,840,291 · Unrelated business $0 · Excluded from tax $0$7,101,425
Part IX · Statement of functional expenses $7,650,106 across 16 lines filed
IX-5 Pay of current officers, directors and key staffManagement $928,126$928,126
IX-7 Other salaries and wagesPrograms $2,618,390 · Management $592,818$3,211,208
IX-8 Pension plan contributionsPrograms $62,552 · Management $31,253$93,805
IX-9 Other employee benefitsPrograms $378,538 · Management $94,934$473,472
IX-10 Payroll taxesPrograms $200,369 · Management $100,112$300,481
IX-11b Legal feesManagement $500$500
IX-11c Accounting feesManagement $54,108$54,108
IX-11g Other fees for servicesPrograms $168,481 · Management $41,964$210,445
IX-13 Office expensesPrograms $256,822 · Management $56,077$312,899
IX-14 Information technologyPrograms $237,579 · Management $50,861$288,440
IX-16 OccupancyPrograms $218,846 · Management $109,344$328,190
IX-19 Conferences, conventions and meetingsPrograms $25,135 · Management $2,793$27,928
IX-20 InterestPrograms $18,913$18,913
IX-22 Depreciation, depletion and amortizationPrograms $231,337 · Management $115,585$346,922
IX-23 InsurancePrograms $72,082 · Management $13,627$85,709
IX-24 Other expenses (24a–d)Programs $962,487 · Management $6,473$968,960
IX-25 Total functional expensesPrograms $5,451,531 · Management $2,198,575 · Fundraising $0$7,650,106
Part X · Balance sheet $10,545,696 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,532,434$2,012,444
X-3 Pledges and grants receivableStart of year $72,250$232,049
X-4 Accounts receivableStart of year $75,030$122,466
X-9 Prepaid expenses and deferred chargesStart of year $166,905$165,835
X-10c Land, buildings and equipment, netStart of year $946,515$898,941
X-14 Intangible assetsStart of year $7,113,961$7,113,961
X-16 Total assetsStart of year $10,907,095$10,545,696
X-17 Accounts payable and accrued expensesStart of year $952,346$1,056,075
X-19 Deferred revenue$419,220
X-25 Other liabilitiesStart of year $359,566$359,861
X-26 Total liabilitiesStart of year $2,473,264$2,660,546
X-27 Net assets without donor restrictionsStart of year $8,433,831$7,885,150
X-32 Total net assets or fund balancesStart of year $8,433,831$7,885,150
X-33 Total liabilities and net assetsStart of year $10,907,095$10,545,696
Part XI · Reconciliation of net assets $7,885,150 net assets at year end
XI-1 Total revenue$7,101,425
XI-2 Total expenses$7,650,106
XI-3 Revenue less expenses−$548,681
XI-4 Net assets at start of year$8,433,831
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,885,150

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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