CONSUMER EDUCATION SERVICES INC

EIN: 562106758 501(c)(3) Human Services

RALEIGH, NC

Total Revenue
$5,387,500
Total Expenses
$5,974,438
Total Assets
$23,042,605
Net Assets
$22,131,989
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
NC
Principal Officer
DIANE CHEN
Phone
8664845373
Tax Period
2022-07-01 to 2023-06-30

CONSUMER EDUCATION SERVICES INC, founded in 1988, is a community nonprofit in the Human Services sector that reported $5.4M in total revenue in fiscal year 2022. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $6.0M exceeded revenue, resulting in a 11% operating deficit.

Mission

CONSUMER EDUCATION SERVICES, INC. EMPOWERS PEOPLE TO OVERCOME THEIR FINANCIAL CHALLENGES AND LEAD FINANCIALLY-HEALTHY LIVES.

Program Service Accomplishments

Program 1
Expenses: $2,523,673 Revenue: $1,317,027

CREDIT COUNSELING AND EDUCATION, AND DEBT REDUCTION PROGRAM:THIS PROGRAM ASSISTS CLIENTS IN MANAGING THEIR PERSONAL FINANCES THROUGH THE PROVISION OF DEBT MANAGEMENT SERVICES, CREDIT COUNSELING...

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CREDIT COUNSELING AND EDUCATION, AND DEBT REDUCTION PROGRAM:THIS PROGRAM ASSISTS CLIENTS IN MANAGING THEIR PERSONAL FINANCES THROUGH THE PROVISION OF DEBT MANAGEMENT SERVICES, CREDIT COUNSELING, EDUCATION AND TRAINING, AND BUDGET PLANNING. CESI OFFERS ASSISTANCE OVER THE PHONE, ONLINE, AND IN PERSON. CERTIFIED CREDIT COUNSELOR'S DISCUSS VARIOUS OPTIONS WITH CLIENTS REGARDING FINANCIAL DECISIONS. THEY ASSESS INDIVIDUALS' PERSONAL FINANCIAL SITUATIONS AND ASSIST THEM IN DEVELOPING A BUDGET IN ORDER TO IMPROVE THEIR OVERALL CREDIT.

Program 2
Expenses: $1,052,879 Revenue: $2,252,870

THE HUD HOUSING PROGRAM OFFERS A WIDE VARIETY OF HOUSING COUNSELING SERVICES TO POTENTIAL HOMEBUYERS, RENTERS AND CURRENT HOMEOWNERS. THESE SERVICES INCLUDE EDUCATION THROUGH GROUP SESSIONS AND...

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THE HUD HOUSING PROGRAM OFFERS A WIDE VARIETY OF HOUSING COUNSELING SERVICES TO POTENTIAL HOMEBUYERS, RENTERS AND CURRENT HOMEOWNERS. THESE SERVICES INCLUDE EDUCATION THROUGH GROUP SESSIONS AND ONE-ON-ONE COUNSELING. THE AREAS OF FOCUS ARE PRE-PURCHASE EDUCATION AND COUNSELING, RENTAL COUNSELING, FORECLOSURE PREVENTION COUNSELING, AND REVERSE MORTGAGE COUNSELING.CESI PROVIDED HOUSING STABILITY COUNSELING PROGRAM WITH ASSISTANCE TO HOMEOWNERS AND RENTERS BY REACHING OUT TO LOAN SERVICERS, LANDLORDS, EMERGENCY RENTAL ASSISTANCE FUNDERS, AND LOCAL/STATE HOUSING ASSISTANCE FUNDING PROGRAMS. CLIENTS WERE ALSO ASSISTED WITH BUDGETING NEEDS AND CREDIT REVIEW AND RECOMMENDATIONS AS WARRANTED.

Program 3
Expenses: $1,310,181

COMMUNITY EDUCATION OUTREACH- CESI SUPPORTS THE ADVANCEMENT OF REVERSE MORTGAGE COUNSELING. FINANCIAL LITERACY EDUCATION WITHIN LOCAL AND STATE COMMUNITIES THROUGH A STRONG COMMUNITY OUTREACH...

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COMMUNITY EDUCATION OUTREACH- CESI SUPPORTS THE ADVANCEMENT OF REVERSE MORTGAGE COUNSELING. FINANCIAL LITERACY EDUCATION WITHIN LOCAL AND STATE COMMUNITIES THROUGH A STRONG COMMUNITY OUTREACH PROGRAM. OUTREACH EFFORTS INCLUDE GROUP EDUCATION PROGRAMS, USUALLY IN PARTNERSHIP WITH LOCAL COMMUNITY AGENCIES OR EDUCATIONAL INSTITUTIONS. THE SECOND PART OF THE CESI OUTREACH EFFORT IS IN THE FORM OF FREE INDIVIDUAL FINANCIAL COUNSELING AT THE CESI CENTER WITH AN ACCREDITED CESI COUNSELOR. CESI OFFERS NUMEROUS FINANCIAL EDUCATIONAL RESOURCES, WHICH ARE EASILY ACCESSED BY ALL CONSUMERS AND NOT JUST CESI CUSTOMERS. THESE RESOURCES ARE DESIGNED TO HELP CONSUMERS BETTER MANAGE THEIR FINANCES AND TO ACHIEVE THE GOAL OF BECOMING DEBT FREE.

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,081,064
Program Service Revenue $3,569,897
Investment Income $301,736
Other Revenue $434,803
TOTAL REVENUE $5,387,500

Expense Breakdown

Grants Paid $1,050,000
Salaries & Benefits $2,222,689
Fundraising Expenses $0
Program Expenses $4,886,733
Other Expenses $2,701,749
TOTAL EXPENSES $5,974,438

Year-over-Year Comparison

2022 2021 Change
Revenue $5,387,500 $7,529,671 -0.3%
Expenses $5,974,438 $5,423,064 +0.1%
Net Income $-586,938 $2,106,607 -1.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
4
Employees
61
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
$722,034
Total Directors
5
$85,174
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAYANG DIANE CHEN CHAIRMAN / SECRETARY 5.00
Officer Director
$79,028 $6,146 $85,174
ALEXIS NELSON BOARD MEMBER 5.00
Director
$0 $0 $0
WAYNE STALLINGS BOARD MEMBER 5.00
Director
$0 $0 $0
ROBERT FITZGERALD BOARD MEMBER 5.00
Director
$0 $0 $0
NAVEED IFTIKHAR BOARD MEMBER 5.00
Director
$0 $0 $0
MICHAEL CROXSON PRESIDENT/CEO THRU 10/2022 30.00
Officer
$189,806 $21,550 $211,356
STEVEN COLE TREASURER THRU 6/2023 40.00
Officer
$221,673 $13,186 $234,859
ROBB CZYZEWSKI CHIEF OPERATING OFFICER 40.00
Officer
$173,785 $16,860 $190,645
JOSEPH BATTLE GENERAL MANAGER 40.00
Highest
$101,000 $8,127 $109,127
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $5,387,500 $5,974,438 $23,042,605 $-586,938
2022 $7,529,671 $5,423,064 $23,360,630 $2,106,607
2021 $7,112,635 $6,807,417 $26,795,782 $305,218
2020 $7,890,936 $7,033,768 $23,548,010 $857,168
2019 $8,370,602 $8,830,612 $23,715,201 $-460,010
2018 $8,538,797 $9,011,799 $23,375,411 $-473,002
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