Incharge Debt Solutions

Nonprofit profile at a glance

EIN
330770440
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Orlando, FL, USA
Phone
4072917770
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$15,025,410
Expenses
$15,018,843
Assets
$8,464,175
Liabilities
$2,299,213

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

Leadership & pay

21 people listed

Executive titles in this filing

  • LORETTA RONEY (PRESIDENT & CEO)

Highest reported compensation

  • LORETTA RONEY (PRESIDENT & CEO): $414,755 total reported compensation
  • KAREN CARLSON INFORMATION MGMT (EDUCATION & DIGITAL MARKETING): $227,026 total reported compensation
  • SEIJI SHIRAISHI TREAS SEC (AS OF AUG., DIR. OF ACCTG. & FINANCE): $204,943 total reported compensation

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

Overview

Mission

Incharge debt solutions helps consumers achieve financial balance and move closer to their dreams.

What it reported doing in 2024

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. Housing counseling services include foreclosure prevention counseling, homebuyer education, and pre-purchase homebuyer counseling. Foreclosure prevention counseling is designed to provide existing borrowers with information and assistance needed to avoid foreclosure. Program highlights include budget planning, evaluation of eligibility for loan modification, assessment of ability to sustain home ownership, and alternative housing options. Homebuyer education is designed to better prepare potential homeowners for homeownership. Participants examine their housing needs, analyze their financial situation, and learn strategies to improve financial management in an effort to better prepare for homeownership. Participants also learn how to shop for a home, obtain a mortgage and prepare for life as a homeowner. Pre-purchase homebuyer counseling, a personal one-on-one session, is offered to provide education and tips to assist potential homebuyers in improving financial management skills and understanding alternative sources of funding and mortgage options. During 2024, approximately 8,021 housing counseling sessions were conducted.

Operating model

Revenue model
Earned-program. 64% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, 0% for grants, and 29% for affiliated organizations.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 85
  • Accountability: 91
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.3%; rating input score 89
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: $160.98 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -2.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 89.3% of revenue deployed · 93.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $14M in reported program spending
  • Leadership: top reported pay $415K · 21 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.