Incharge Financial Solutions

Tax-deductible

Orlando, FL501(c)(3)Since 1997Human ServicesEIN 33-0770440

Incharge debt solutions (ids) provides credit, bankruptcy, housing, and student loan counseling services to the general public. These services include educational materials and resources, solutions-based counseling, client debt management programs, bankruptcy credit counseling and pre-discharge debtor education services, foreclosure prevention, homebuyer education, pre-purchasing housing counseling, student loan counseling, and other financial literacy activities for the benefit of the general public.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Run by 9 volunteers and 112 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $323K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$913K
to officers and key staff · 6% of spending
Top officer’s pay higher than 89% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $110K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.3M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.0M
+5% vs prior year
Spent
$15.0M
To programs
93%
Net assets
$6.2M
By yearFY2020–FY2024
Revenue
$15.0M
FY2024▲ +5%
Revenue by fiscal year
FY2020$17.6M
FY2021$18.4M
FY2022$13.7M
FY2023$14.3M
FY2024$15.0M
Expenses
$15.0M
FY2024▼ -5%
Expenses by fiscal year
FY2020$17.2M
FY2021$14.4M
FY2022$15.0M
FY2023$15.8M
FY2024$15.0M
Net assets
$6.2M
FY2024▲ +0.9%
Net assets by fiscal year
FY2020$5.9M
FY2021$9.0M
FY2022$7.4M
FY2023$6.1M
FY2024$6.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1998.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $14.0M Management & general 7% · $1.0M Fundraising 0% · $33K

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

Who runs it and what they're paid

21 people listed on the 990; $913K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$388,723Pt VII · Sec A
And VP of Operations Until June
$184,601Pt VII · Sec A
Director of Quality and Compliance
$158,478Pt VII · Sec A
Industry Relations & Cust. Support
$116,873Pt VII · Sec A
Exp. & Business Strat. as of Oct.
$58,530Pt VII · Sec A
$811Pt VII · Sec A
Board Chair
$750Pt VII · Sec A
Trustee Until February
$700Pt VII · Sec A

Loretta Roney’s $389K as President & CEO is at the 89th percentile of top reported officer pay among 3122 $10–100M 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

NameFY2024FY2023FY2022FY2021FY2020
Etta W Money—$214,007$418,106$417,910$460,366
Loretta Roney$388,723$224,219———
William Malseed—$129,815$239,157$269,520$296,114
Soraia Dearaujo——$230,108$233,172$288,710
Michael C Leon Board Sec as—$188,315———
Michael C Leon Board Sec$184,601————
Michael C Leon——$166,827——
Sasan Saleh Nassab$158,478$120,352———

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 15aNo

Programs and updates

Offers free counseling for debt, bankruptcy, housing, and student loans.

Provided by the organization

This section is blank until Incharge Financial Solutions claims this page.

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3 program services account for $13.6M of program spending, described in the organization's own filed words · FY2024.
01

Credit Counseling and Education

This program assists consumers in managing their personal finances through the provision of solutions-based credit counseling, budget planning, and financial educational materials. Solutions-based counseling is designed to find the right solution for each debt distressed consumer.

$9.3Mprogram expense
02

Debt Management

Ids offers debt management programs to assist consumers in paying off their unsecured debts and to better manage their financial obligations in the future. Ids processes debt payments, attempts to secure a reduction in interest rates, and attempts to establish affordable monthly payments on the clients' behalf.

$3.8Mprogram expense
03

Housing Counseling and Education

Ids is a local U.S. Department of housing and urban development ("hud") approved agency in the state of florida and a member of the national foundation for credit counseling ("NFCC"), which enables ids to serve consumers on a nationwide basis.

$498Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$110K
Grants paid · 2 grants · $2.0M · 2020–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.0M
Ln 12
Fees for servicesLn 2g$10.1M
Gifts and grantsLn 1h$5.4M
Investment incomeLn 3$250K
Money outPt IX
$15.0M
Ln 25
Programscol B$14.0M
Managementcol C$1.0M
Fundraisingcol D$33K
Owns and owesPt X
$6.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$8.5M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
21
listed · VII A
PaidVII A13
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.4M
Government grantsLn 1e$463K
Fees for servicesLn 2g$10.1M
Investment incomeLn 3$250K
Gains on assetsLn 7−$668K
Total revenueLn 12$15.0M
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$109K
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$5.6M
Land, buildings, equipmentLn 10c$296K
Other assetsLn 15$1.1M
Total assetsLn 16$8.5M
LiabilitiesLn 26$2.3M
Net assetsLn 32$6.2M
OperationsPt I, VI
EmployeesI 5112
VolunteersI 69
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$1.5M$1.2M
InvestmentsLn 11–13$4.9M$5.6M
Land, buildings, equipmentLn 10c$768K$296K
Total assetsLn 16$8.3M$8.5M
LiabilitiesLn 26$2.2M$2.3M
Net assetsLn 32$6.1M$6.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$293$293
Pay of current officers, directors and key staffLn 5$1.3M$1.2M$97K$5K
Other salaries and wagesLn 7$3.6M$3.3M$255K$13K
Pension plan contributionsLn 8$120K$113K$6K$334
Other employee benefitsLn 9$487K$451K$34K$2K
Payroll taxesLn 10$355K$329K$25K$1K
Legal feesLn 11b$9K$9K
Accounting feesLn 11c$59K$51K$8K
Other fees for servicesLn 11g$171K$170K$900
Office expensesLn 13$9K$8K$612$32
Information technologyLn 14$94K$87K$7K$346
OccupancyLn 16$261K$242K$18K$962
TravelLn 17$21K$19K$1K$77
Payments to affiliatesLn 21$4.6M$4.1M$522K$4K
Depreciation, depletion and amortizationLn 22$37K$35K$3K$138
Other expenses (24a–d)Ln 24$3.8M$3.8M$13K$5K
All other expensesLn 24e$54K$50K$4K$201
Total functional expensesLn 25$15.0M$14.0M$1.0M$33K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $15.0M$15.0M$7K$6.2M 990 PDF
FY2023 $14.3M$15.8M−$1.5M$6.1M 990 PDF
FY2022 $13.7M$15.0M−$1.3M$7.4M 990 PDF
FY2021 $18.4M$14.4M$4.0M$9.0M 990 PDF
FY2020 $17.6M$17.2M$404K$5.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $15,025,410 across 7 lines filed
VIII-1e Government grants$463,168
VIII-1f All other contributions, gifts and grants$4,926,972
VIII-1h Total contributions, gifts and grants$5,390,140
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,053,601$10,053,601
VIII-3 Investment incomeExcluded from tax $249,899$249,899
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$668,230−$668,230
VIII-12 Total revenueRelated to mission $10,053,601 · Unrelated business $0 · Excluded from tax −$418,331$15,025,410
Part IX · Statement of functional expenses $15,018,843 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $293$293
IX-5 Pay of current officers, directors and key staffPrograms $1,247,374 · Management $96,838 · Fundraising $5,063$1,349,275
IX-7 Other salaries and wagesPrograms $3,341,891 · Management $254,602 · Fundraising $13,310$3,609,803
IX-8 Pension plan contributionsPrograms $112,944 · Management $6,410 · Fundraising $334$119,688
IX-9 Other employee benefitsPrograms $450,964 · Management $34,356 · Fundraising $1,797$487,117
IX-10 Payroll taxesPrograms $328,684 · Management $25,043 · Fundraising $1,309$355,036
IX-11b Legal feesManagement $9,247$9,247
IX-11c Accounting feesPrograms $50,733 · Management $7,965$58,698
IX-11g Other fees for servicesPrograms $170,111 · Fundraising $900$171,011
IX-13 Office expensesPrograms $8,049 · Management $612 · Fundraising $32$8,693
IX-14 Information technologyPrograms $86,817 · Management $6,614 · Fundraising $346$93,777
IX-16 OccupancyPrograms $241,649 · Management $18,411 · Fundraising $962$261,022
IX-17 TravelPrograms $19,453 · Management $1,482 · Fundraising $77$21,012
IX-21 Payments to affiliatesPrograms $4,054,545 · Management $522,100 · Fundraising $4,398$4,581,043
IX-22 Depreciation, depletion and amortizationPrograms $34,537 · Management $2,630 · Fundraising $138$37,305
IX-24 Other expenses (24a–d)Programs $3,783,957 · Management $12,821 · Fundraising $4,616$3,801,394
IX-24e All other expensesPrograms $50,389 · Management $3,839 · Fundraising $201$54,429
IX-25 Total functional expensesPrograms $13,982,390 · Management $1,002,970 · Fundraising $33,483$15,018,843
Part X · Balance sheet $8,464,175 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $417,189$1,115,197
X-2 Savings and temporary cash investmentsStart of year $1,039,661$109,172
X-3 Pledges and grants receivableStart of year $162,500$124,000
X-4 Accounts receivableStart of year $75,660$81,011
X-9 Prepaid expenses and deferred chargesStart of year $69,077$68,584
X-10c Land, buildings and equipment, netStart of year $767,870$295,998
X-11 Publicly traded securitiesStart of year $4,921,751$5,607,380
X-15 Other assetsStart of year $884,674$1,062,833
X-16 Total assetsStart of year $8,338,382$8,464,175
X-17 Accounts payable and accrued expensesStart of year $1,087,357$974,713
X-19 Deferred revenueStart of year $258,625$261,667
X-26 Total liabilitiesStart of year $2,230,656$2,299,213
X-27 Net assets without donor restrictionsStart of year $6,107,726$6,164,962
X-32 Total net assets or fund balancesStart of year $6,107,726$6,164,962
X-33 Total liabilities and net assetsStart of year $8,338,382$8,464,175
Part XI · Reconciliation of net assets $6,164,962 net assets at year end
XI-1 Total revenue$15,025,410
XI-2 Total expenses$15,018,843
XI-3 Revenue less expenses$6,567
XI-4 Net assets at start of year$6,107,726
XI-5 Net unrealized gains (losses) on investments$50,669
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,164,962

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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