INCHARGE DEBT SOLUTIONS

EIN: 330770440 501(c)(3) Human Services

ORLANDO, FL

Total Revenue
$14,313,613
Total Expenses
$15,787,525
Total Assets
$8,338,382
Net Assets
$6,107,726
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NV
Principal Officer
LORETTA RONEY
Phone
4072917770
Tax Period
2023-01-01 to 2023-12-31

INCHARGE DEBT SOLUTIONS, founded in 1997, is a mid-sized nonprofit in the Human Services sector that reported $14.3M in total revenue in fiscal year 2023. Expenses of $15.8M exceeded revenue, resulting in a 10% operating deficit.

Mission

INCHARGE DEBT SOLUTIONS HELPS CONSUMERS ACHIEVE FINANCIAL BALANCE AND MOVE CLOSER TO THEIR DREAMS.

Program Service Accomplishments

Program 1
Expenses: $9,212,925 Revenue: $10,850

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...

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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. NEARLY 74,000 FINANCIALLY DISTRESSED INDIVIDUALS RECEIVED CREDIT COUNSELING, AND FINANCIAL EDUCATIONAL MATERIALS DURING 2023. FINANCIAL EDUCATIONAL MATERIALS ASSIST CONSUMERS IN ACQUIRING AND IMPROVING MONEY MANAGEMENT SKILLS AND MANAGING CREDIT. CREDIT COUNSELING SERVICES ARE OFFERED IN PERSON FOR INDIVIDUALS RESIDING IN THE CENTRAL FLORIDA AREA, AND NATIONALLY OVER THE TELEPHONE AND THROUGH THE INTERNET.

Program 2
Expenses: $4,592,618 Revenue: $8,059,938

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...

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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. CLIENTS ARE PROVIDED INITIAL AND CONTINUING EDUCATIONAL ASSISTANCE THROUGH FINANCIAL EDUCATIONAL MATERIALS AND GUIDANCE IN FINANCIAL MATTERS AS DETERMINED BY THEIR NEEDS.

Program 3
Expenses: $507,849 Revenue: $658,011

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...

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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 2023 APPROXIMATELY 7,700 HOUSING COUNSELING SESSIONS WERE CONDUCTED.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,389,522
Program Service Revenue $8,863,338
Investment Income $58,245
Other Revenue $2,508
TOTAL REVENUE $14,313,613

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,571,297
Fundraising Expenses $37,299
Program Expenses $14,684,406
Other Expenses $10,216,228
TOTAL EXPENSES $15,787,525

Year-over-Year Comparison

2023 2022 Change
Revenue $14,313,613 $13,703,408 +0.0%
Expenses $15,787,525 $15,004,473 +0.1%
Net Income $-1,473,912 $-1,301,065 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
126
Volunteers
10

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
5
$983,041
Total Directors
10
$9,966
Key Employees
3
$595,172
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATRICIA WEXLER BOARD CHAIR 2.00
Director
$1,615 $0 $1,615
CAREY TARBELL TRUSTEE 2.00
Director
$1,615 $0 $1,615
JEFF TASSEY TRUSTEE 2.00
Director
$1,661 $0 $1,661
JAMES HARRIS TRUSTEE UNTIL MARCH 1.00
Director
$0 $0 $0
MONIKA WILCZAK TRUSTEE AS OF MARCH 2.00
Director
$722 $0 $722
BHAVESH VADHANI TRUSTEE 2.00
Director
$0 $0 $0
ROBERT RUIZ TRUSTEE 2.00
Director
$1,725 $0 $1,725
KRISTEN SOLES TRUSTEE 2.00
Director
$0 $0 $0
ROBERT GALL TRUSTEE 1.00
Director
$0 $0 $0
SUSANNA KONDRACKI TRUSTEE 2.00
Director
$2,628 $0 $2,628
ETTA W MONEY PRESIDENT & CEO UNTIL MAY 46.00
Officer
$214,007 $25,206 $239,213
WILLIAM MALSEED SECRETARY/TREASURER UNTIL MAY 41.00
Officer
$129,815 $10,387 $140,202
MICHAEL C LEON BOARD SEC AS OF JUNE AND VP OF OPERATIONS 45.00
Officer
$188,315 $16,061 $204,376
LORETTA RONEY PRESIDENT & CEO AS OF JUNE 36.00
Officer
$224,219 $9,006 $233,225
SEIJI SHIRAISHI BOARD TREAS AND DIR. OF ACCOUNTING AND FINANCE 27.00
Officer
$0 $29,251 $166,025
RICARDO VIERA SENIOR DIRECTOR OF INFORMATION TECHNOLOGY 36.00
Key Emp
$0 $30,396 $189,055
KAREN CARLSON PRESIDENT OF EDUCATION FOUNDATION 32.00
Key Emp
$0 $30,667 $219,541
SHAWN WALSH VICE PRESIDENT OF RELATIONSHIP 36.00
Key Emp
$0 $32,350 $186,576
AHMED MOYEEN SOFTWARE ENGINEER SENIOR 45.00
Highest
$0 $15,357 $134,570
BILLY SEXTON IT INFRASTRUCTURE MANAGER 45.00
Highest
$0 $15,544 $137,817
SHERANA BAKHSH PMO/QUALITY ASSURANCE MANAGER 45.00
Highest
$0 $7,928 $120,946
NIDIA MERCADO DIRECTOR OF QUALITY AND COMPLIANCE 45.00
Highest
$114,358 $22,807 $137,165
SASAN SALEH NASSAB DIRECTOR OF QUALITY AND COMPLIANCE 27.00
Highest
$120,352 $28,605 $148,957
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 $14,313,613 $15,787,525 $8,338,382 $-1,473,912
2022 $13,703,408 $15,004,473 $10,402,259 $-1,301,065
2021 $18,359,238 $14,381,236 $11,087,223 $3,978,002
2020 $17,569,003 $17,164,920 $9,899,257 $404,083
2018 $16,065,326 $15,466,298 $6,405,414 $599,028
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