NATIONAL FOUNDATION FOR CREDIT COUNSELING INC

EIN: 530132493 501(c)(3) Human Services

WASHINGTON, DC

Total Revenue
$9,663,493
Total Expenses
$10,982,606
Total Assets
$7,689,049
Net Assets
$4,082,893
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
DC
Principal Officer
MICHAEL CROXSON
Phone
2026774314
Tax Period
2023-01-01 to 2023-12-31

NATIONAL FOUNDATION FOR CREDIT COUNSELING INC, founded in 1970, is a community nonprofit in the Human Services sector that reported $9.7M in total revenue in fiscal year 2023. Expenses of $11.0M exceeded revenue, resulting in a 14% operating deficit.

Mission

THE NFCC AND ITS MEMBERS OFFER PEOPLE SOLUTIONS AND SUPPORT TO ADDRESS FINANCIAL CHALLENGES AND TAKE CHARGE OF THEIR OWN FINANCIAL FUTURES.

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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 $5,396,039
Program Service Revenue $4,327,336
Investment Income $-59,882
Other Revenue $0
TOTAL REVENUE $9,663,493

Expense Breakdown

Grants Paid $3,336,321
Salaries & Benefits $3,054,746
Fundraising Expenses $188,303
Program Expenses $8,827,254
Other Expenses $4,591,539
TOTAL EXPENSES $10,982,606

Year-over-Year Comparison

2023 2022 Change
Revenue $9,663,493 $9,648,541 +0.0%
Expenses $10,982,606 $9,984,405 +0.1%
Net Income $-1,319,113 $-335,864 +2.9%
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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Governance

Voting Members
16
Independent Members
16
Employees
37
Volunteers
17

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
6
$758,514
Total Directors
17
$0
Key Employees
1
$435,506
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEBBIE BIANUCCI CHAIR 1.00
Officer Director
$0 $0 $0
GENGER CHARLES VICE CHAIR 1.00
Officer Director
$0 $0 $0
JIM TRIGGS SECRETARY 1.00
Officer Director
$0 $0 $0
JAY DESMARTEAU TREASURER 1.00
Officer Director
$0 $0 $0
GLORIA BANKS TRUSTEE 1.00
Director
$0 $0 $0
CHRISTOPHER CAMAIONE-LIND TRUSTEE 1.00
Director
$0 $0 $0
DUANE ELMER TRUSTEE 1.00
Director
$0 $0 $0
JILL FELDMAN TRUSTEE 1.00
Director
$0 $0 $0
SARAH GOLDFRANK TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL GROSSBERG TRUSTEE 1.00
Director
$0 $0 $0
ELEANOR HOHMAN TRUSTEE 1.00
Director
$0 $0 $0
GEORGE JANAS TRUSTEE 1.00
Director
$0 $0 $0
SCOTT LAUGHLIN TRUSTEE - UNTIL 8/2023 1.00
Director
$0 $0 $0
HELENE RAYNAUD TRUSTEE 1.00
Director
$0 $0 $0
FAISAL UDDIN TRUSTEE 1.00
Director
$0 $0 $0
CHRISTOPHER VIALE TRUSTEE 1.00
Director
$0 $0 $0
GARY VOLLMER TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL CROXSON CEO 50.00
Officer
$374,668 $154,529 $529,197
JEFFREY FAULKNER - UNTIL 52023 CFO, HEAD OF FUNDRAISING & RESEARCH 50.00
Officer
$217,687 $11,630 $229,317
JENNIFER LANDIS PIZI COO 50.00
Key Emp
$352,872 $82,634 $435,506
BRUCE MCCLARY SVP, MEDIA RELATIONS & MEMBERSHIP 50.00
Highest
$136,119 $20,356 $156,475
ELLEN GOURY VP, FINANCE & HR 50.00
Highest
$166,475 $38,103 $204,578
MATTHEW RIBE GENERAL COUNSEL 50.00
Highest
$161,625 $47,621 $209,246
JESSICA BLAIS SVP, MARKETING 50.00
Highest
$131,980 $15,715 $147,695
HERMOND PALMER VP, OUTREACH & INCLUSION 50.00
Highest
$169,710 $25,388 $195,098
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 $9,663,493 $10,982,606 $7,689,049 $-1,319,113
2022 $9,648,541 $9,984,405 $9,402,187 $-335,864
2021 $8,760,104 $9,369,612 $8,192,491 $-609,508
2020 $9,543,593 $8,664,176 $7,650,485 $879,417
2019 $9,771,544 $8,346,975 $6,410,619 $1,424,569
2018 $6,043,846 $9,740,921 $5,472,477 $-3,697,075
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