INCHARGE INSTITUTE OF AMERICA INC

EIN: 522196183 501(c)(3)

ORLANDO, FL

Total Revenue
$285,987
Total Expenses
$3,921,194
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
DE
Principal Officer
LORETTA RONEY
Phone
4072917770
Tax Period
2023-01-01 to 2023-12-31

INCHARGE INSTITUTE OF AMERICA INC, founded in 1999, is a small nonprofit that reported $286K in total revenue in fiscal year 2023. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $3.9M exceeded revenue, resulting in a 1271% operating deficit.

Mission

INCHARGE INSTITUTE OF AMERICA PROVIDES MANAGEMENT SUPPORT SERVICES TO AFFILIATED ENTITIES AND PERSONAL FINANCIAL EDUCATIONAL CONTENT TO CONSUMERS ON THE MILITARYMONEY WEBSITE.

Program Service Accomplishments

Program 1
Expenses: $1,193,188 Revenue: $449,204

CREDIT COUNSELING AND EDUCATION - INCHARGE INSTITUTE OF AMERICA ("ICI") PROVIDES ADMINISTRATIVE SUPPORT TO INCHARGE DEBT SOLUTIONS ("IDS") IN THE AREA OF CREDIT COUNSELING AND EDUCATION. THIS PROGRAM...

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CREDIT COUNSELING AND EDUCATION - INCHARGE INSTITUTE OF AMERICA ("ICI") PROVIDES ADMINISTRATIVE SUPPORT TO INCHARGE DEBT SOLUTIONS ("IDS") IN THE AREA OF 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. OVER 70,000 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: $397,729

DEBT MANAGEMENT - ICI PROVIDES ADMINISTRATIVE SUPPORT TO IDS IN THE AREA OF DEBT MANAGEMENT SERVICES. IDS OFFERS DEBT MANAGEMENT PROGRAMS TO ASSIST CONSUMERS IN PAYING OFF THEIR UNSECURED DEBTS AND...

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DEBT MANAGEMENT - ICI PROVIDES ADMINISTRATIVE SUPPORT TO IDS IN THE AREA OF DEBT MANAGEMENT SERVICES. 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: $55,859

EDUCATIONAL PROGRAM DEVELOPMENT/OUTREACH - ICI PROVIDED ADMINISTRATIVE SUPPORT SERVICES TO INCHARGE EDUCATION FOUNDATION (THE "FOUNDATION") WHOSE MISSION IS TO PROVIDE EDUCATIONAL MATERIALS...

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EDUCATIONAL PROGRAM DEVELOPMENT/OUTREACH - ICI PROVIDED ADMINISTRATIVE SUPPORT SERVICES TO INCHARGE EDUCATION FOUNDATION (THE "FOUNDATION") WHOSE MISSION IS TO PROVIDE EDUCATIONAL MATERIALS, PROGRAMS, AND OUTREACH SERVICES FOR IDS FINANCIALLY DISTRESSED INDIVIDUALS AND FAMILIES. THE FOUNDATION FULFILLS THIS MISSION BY PUBLISHING WEBSITE ARTICLES, NEWSLETTERS, ONLINE COURSES, INTERACTIVE TOOLS, AND WORKSHOPS THAT PROVIDE INFORMATION ABOUT MONEY MANAGEMENT, PERSONAL FINANCE AND THE RESPONSIBLE USE OF CREDIT. THE FOUNDATION, IN CONJUNCTION WITH IDS, ALSO CONDUCTS FREE FINANCIAL LITERACY WORKSHOPS AND HOMEBUYER EDUCATION CLASSES FOR THE GENERAL PUBLIC.

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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 $449,204
Investment Income $-163,217
Other Revenue $0
TOTAL REVENUE $285,987

Expense Breakdown

Grants Paid $0
Salaries & Benefits $295,058
Fundraising Expenses $0
Program Expenses $1,716,695
Other Expenses $3,626,136
TOTAL EXPENSES $3,921,194

Year-over-Year Comparison

2023 2022 Change
Revenue $285,987 $1,217,547 -0.8%
Expenses $3,921,194 $1,210,265 +2.2%
Net Income $-3,635,207 $7,282 -500.2%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
2
Independent Members
1
Employees
9
Volunteers
1

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
$781,664
Total Directors
2
$239,213
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD ANDERSON TRUSTEE 1.00
Director
$0 $0 $0
ETTA W MONEY PRESIDENT/CEO UNTIL MAY 1.00
Officer Director
$0 $25,206 $239,213
SEIJI SHIRAISHI DIR. OF ACCOUNTING AND FINANCE 11.00
Officer
$35,219 $29,251 $169,024
WILLIAM MALSEED SECRETARY/TREASURER UNTIL MAY 1.00
Officer
$0 $10,387 $140,202
LORETTA RONEY PRESIDENT & CEO AS OF JUNE 1.00
Officer
$0 $9,006 $233,225
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
2023 $285,987 $3,921,194 No data $-3,635,207
2022 $1,217,547 $1,210,265 $3,595,478 $7,282
2021 $1,124,873 $1,040,037 $3,848,389 $84,836
2020 $3,032,701 $939,935 $3,788,156 $2,092,766
2019 $3,247,722 $3,645,482 $2,027,645 $-397,760
2018 $3,413,369 $3,411,449 $2,325,322 $1,920
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