Debt Reduction Services Inc

What it reported doing in 2024

Educational accomplishmentsdebt reduction services, inc. Continued to strengthen its national financial education programs in 2024. Through virtual, in-person, and self-paced delivery, our nonprofit promoted financial literacy, budgeting, credit management, and homeownership readiness for individuals and families across the united states. In 1,650 sessions, 2,497 participants completed an educational activity or course, while 552 additional individuals received personalized financial coaching and resource guidance through short educational calls. Signature programs included my life my choices (student and corrections editions), who wants to live like a millionaire?, and financial essentials: renter and homeownership prep and savings success. Continuously expanding educational partnerships included a four-part virtual workshop series with a Virginia nonprofit (reaching 300 participants) and a national outreach event for 90 high school student-athletes. Early financial education remained a priority, with 190 second-grade students participating in our virtual berenstain bears "trouble with money" reading and activity in partnership with Idaho saves 529 college savings. Through these and other efforts, drs continued to make practical financial education accessible nationwide.in 2024, debt reduction services utilized its resources to expand and support a range of significant financial education programs and services.housing counselingin 2024, we continued to assist homeless families and individuals and those at risk of becoming so by using our partnership with Idaho housing and finance to use home arp funds to keep 274 households housed across Idaho. Grant for Idaho's balance of state. We additionally offered our housing counseling services to more than 100 other consumers (renters and homeowners) through homebuyer counseling, fair housing education and counseling, and hecm reverse mortgage counseling. We also saw our reverse mortgage counseling sessions from 18 in 2023 to over 70 in 2024.financial education and outreachthe organization's financial education team facilitated 1,650 sessions in 2024, serving 2,497 participants through courses, workshops, and webinars. Topics included budgeting, credit improvement, debt reduction, saving strategies, and responsible spending. An additional 552 individuals received brief educational consultations by telephone, focusing on budget planning, credit building, debt management, and financial goal setting, each conversation reinforced with referrals to trusted educational resources. Among our most popular and impactful courses in 2024 were:- my life my choices student edition, completed by 1,183 students nationwide (mostly middle and high school students but also college students)- who wants to live like a millionaire?, promoting mindful spending (122 completions)- savings success, a course on building consistent savings habits (42 completions)- financial essentials: renter and homeownership prep (21 completions)- credit voyage and a credit to you: credit basics (90 completions)- teen budget activity (476 completions) and vacation budget activity (141 completions)as examples of our work, we offered a virtual budget presentation for 90 high school student-rodeo athletes in march. Four evening virtual workshops with a Virginia nonprofit engaged more than 300 participants on topics of financial success, savings, banking, and budgeting.community and professional collaborationdrs continued its commitment to outreach and network building by spending over 28hours in community events and collaborative meetings promoting financial literacy and housing stability. Activities included:- participation in pocatello access point supportive housing groups (6.5 hours)- program coordinating committee meetings with boise city-ada county housing authorities (3 hours)- joining forces eastern Idaho meetings supporting veterans (3 hours)- more than 15 hours actively engaging with experian's weekly @creditchat on soc

Financial Efficiency

• Mission deployment rate: 84.9%; rating input score 85
• Program expense ratio: 83.3%; rating input score 83
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.8%; rating input score 27; 27th percentile among comparable filings
• Total-asset coverage ratio: 0.45; rating input score 15; 15th percentile among comparable filings
• Liabilities to assets ratio: 0.96; rating input score 6; 6th percentile among comparable filings
• Officer compensation ratio: 1.4%; rating input score 79; 79th percentile among comparable filings

Growth

• Program expense growth: -6.5% per year; rating input score 0; 4th percentile among comparable filings
• Revenue growth: -5% per year; rating input score 0; 3rd percentile among comparable filings
• Asset growth: 2.5% per year; rating input score 100; 22nd percentile among comparable filings