INCHARGE EDUCATION FOUNDATION INC

EIN: 200152720 501(c)(3) Human Services

ORLANDO, FL

Total Revenue
$7,406,036
Total Expenses
$6,015,204
Total Assets
$8,050,094
Net Assets
$7,763,871
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
DE
Principal Officer
KAREN CARLSON
Phone
4072917770
Tax Period
2023-01-01 to 2023-12-31

INCHARGE EDUCATION FOUNDATION INC, founded in 2003, is a community nonprofit in the Human Services sector that reported $7.4M in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 19% operating margin.

Mission

THE FOUNDATION OPERATES FOR THE BENEFIT OF INCHARGE DEBT SOLUTIONS ("IDS") BY PROVIDING FINANCIAL EDUCATION PROGRAMS AND MATERIALS TO INDIVIDUALS PARTICIPATING IN CREDIT, BANKRUPTCY AND HOUSING COUNSELING PROGRAMS, AS WELL AS MARKETING AND IT SUPPORT FOR IDS PROGRAMS. THE FOUNDATION ALSO PROVIDES EDUCATIONAL PRODUCTS AND SERVICES TO THE GENERAL PUBLIC AND CONDUCTS NUMEROUS OUTREACH SEMINARS WITH IDS WHICH ARE AIMED AT IMPROVING THE FINANCIAL LITERACY OF ATTENDEES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $7,341,494
Investment Income $53,509
Other Revenue $11,033
TOTAL REVENUE $7,406,036

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,158,343
Fundraising Expenses $0
Program Expenses $4,973,323
Other Expenses $2,856,861
TOTAL EXPENSES $6,015,204

Year-over-Year Comparison

2023 2022 Change
Revenue $7,406,036 $5,191,200 +0.4%
Expenses $6,015,204 $5,221,635 +0.2%
Net Income $1,390,832 $-30,435 -46.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
37
Volunteers
4

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$778,664
Total Directors
4
$0
Key Employees
3
$595,172
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD ANDERSON TRUSTEE UNTIL MARCH 1.00
Director
$0 $0 $0
JAMES HARRIS TRUSTEE 1.00
Director
$0 $0 $0
ROBERT GALL TRUSTEE AS OF JUNE 1.00
Director
$0 $0 $0
TIM BLYTHE TRUSTEE AS OF JUNE 1.00
Director
$0 $0 $0
WILLIAM R MALSEED PRESIDENT UNTIL MAY 3.00
Officer
$0 $10,387 $140,202
ETTA W MONEY SECRETARY/TREASURER UNTIL MAY 3.00
Officer
$0 $25,206 $239,213
SEIJI SHIRAISHI DIR. OF ACCOUNTING AND FINANCE 7.00
Officer
$101,554 $29,251 $166,024
LORETTA RONEY PRESIDENT & CEO AS OF JUNE 9.00
Officer
$0 $9,006 $233,225
KAREN CARLSON SR. DIR. OF EDUC/DIG. MKT. 11.00
Key Emp
$188,874 $30,667 $219,541
SHAWN WALSH SR. DIR. OF BUSINESS DEV. 9.00
Key Emp
$154,226 $32,350 $186,576
RICARDO VIERA SR. DIR. OF INFORMATION TECH. 9.00
Key Emp
$158,659 $30,396 $189,055
ROBERT SMITH MS SQL DATABASE & BI DEVELOPER 1.00
Highest
$105,062 $13,472 $118,534
AHMED MOYEEN SR. SOFTWARE ENGINEER 1.00
Highest
$119,213 $15,357 $134,570
BILLY SEXTON NETWORK ADMINISTRATOR 1.00
Highest
$122,273 $15,544 $137,817
SHERANA BAKHSH BUS. SYS. ANALYST/QA LEAD 1.00
Highest
$113,018 $7,928 $120,946
MONETTE P MUDIE SR. SOFTWARE ENGINEER 1.00
Highest
$110,597 $19,832 $130,429
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $7,406,036 $6,015,204 $8,050,094 $1,390,832
2022 $5,191,200 $5,221,635 $5,398,425 $-30,435
2021 $4,772,648 $4,966,259 $6,139,493 $-193,611
2020 $4,105,406 $4,134,139 $6,605,610 $-28,733
2019 $1,484,488 $832,086 $6,078,239 $652,402
2018 $1,778,603 $856,123 $5,160,224 $922,480
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