Debt Management Credit Counseling Corp

Nonprofit profile at a glance

EIN
650923483
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Ft Lauderdale, FL, USA
Phone
9544158366
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$1,642,383
Expenses
$1,884,752
Assets
$237,404
Liabilities
$569,447

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • PHIL HEINEMANN (PRESIDENT EXEC DIRECTOR)

Highest reported compensation

  • PHIL HEINEMANN (PRESIDENT EXEC DIRECTOR): $185,778 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to provide consumers education and budget counseling to improve their financial literacy and assist them in the management of their personal finances. We are committed to providing credit counseling through educational programs and materials personal budgeting housing counseling and debt management plans to financially distressed consumers while maintaining fiscal integrity and utilizing the highest quality standards in the industry.

What it reported doing in 2024

Counseling & education: the organizations counseling and education programs focus on the managing of credit and debt budgeting of personal finances and housing issues. Counseling and education services are primarily provided through face-to-face and telephone counseling sessions onsite seminars and workshops at schools community centers and businesses online educational courses and the distribution of free educational materials. The organization is approved by hud to provide comprehensive housing counseling to residents of Florida including pre-purchase counseling and homebuyer education non-delinquency post purchase counseling mortgage delinquency and default resolution counseling financial literacy educational workshops reverse mortgage counseling and homeless counseling services.specific program accomplishments achieved were as follows: dmcc conducted financial education seminars and workshops for approximately 500 individuals for first-time homebuyers nonprofit community organizations and employers throughout the state of Florida. Dmcc disseminated free financial literature and educational materials to its clients and the general public through seminars the u.s. Mail email and its websites. Educational pages on dmcc websites were viewed by approximately 24,000 visitors during 2024. Dmcc provided personal financial counseling to approximately 3,000 consumers of which 1,400 were enrolled in a dmcc program. Dmcc was awarded grants totaling 95,805 to provide housing counseling and financial literacy education including pre-purchase home buying post-purchase home ownership foreclosure and rental eviction prevention and homeless assistance. During the hud 2024 fiscal year dmcc provided housing counseling services to approximately 960 individuals and families.

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 70
  • Accountability: 70
  • Sustainability: 12
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 80.7%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.8%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 2.4; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -6.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -9.6% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 80.7% of spending went to programs
  • Governance: 3 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $186K · 4 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $109K reported
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.