DEBT REDUCTION SERVICES INC

EIN: 820491267 501(c)(3) Human Services

BOISE, ID

Total Revenue
$2,344,933
Total Expenses
$2,785,187
Total Assets
$1,129,668
Net Assets
$80,106
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
ID
Principal Officer
CARA STEELE
Phone
2083780200
Tax Period
2023-01-01 to 2023-12-31

DEBT REDUCTION SERVICES INC, founded in 1996, is a community nonprofit in the Human Services sector that reported $2.3M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $2.8M exceeded revenue, resulting in a 19% operating deficit.

Mission

OUR MISSION IS TO PROMOTE FINANCIAL RESPONSIBILITY IN OUR CLIENTS AND COMMUNITY MEMBERS NATIONWIDE. WE ACCOMPLISH THIS THROUGH EDUCATIONAL PROGRAMS, COUNSELING, AND PERSONALIZED SERVICES. WE THUS EMPOWER INDIVIDUALS TO DEVELOP AND USE POSITIVE BUDGETING SKILLS AND EFFECTIVE SPENDING BEHAVIORS, TO USE CREDIT WISELY, AND TO PREVENT, MANAGE, AND ELIMINATE CONSUMER DEBT.

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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 $252,900
Program Service Revenue $2,092,033
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,344,933

Expense Breakdown

Grants Paid $1,000
Salaries & Benefits $1,993,657
Fundraising Expenses $0
Program Expenses $2,318,117
Other Expenses $790,530
TOTAL EXPENSES $2,785,187

Year-over-Year Comparison

2023 2022 Change
Revenue $2,344,933 $2,593,429 -0.1%
Expenses $2,785,187 $2,938,233 -0.1%
Net Income $-440,254 $-344,804 +0.3%
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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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
36
Volunteers
N/A

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
$757,336
Total Directors
9
$462,616
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARA STEELE PRESIDENT 50.00
Officer Director
$153,753 $9,623 $163,376
RANDY SIDDOWAY DIRECTOR 0.00
Director
$0 $0 $0
DANIEL BURGETT DIRECTOR 0.00
Director
$0 $0 $0
ANDREA SORENSEN DIRECTOR 0.00
Director
$0 $0 $0
LYLE COOK DIRECTOR 0.00
Director
$0 $0 $0
CHRISTINA MAI DIRECTOR 0.00
Director
$0 $0 $0
DARRIN JASZKOWIAK DIRECTOR 0.00
Director
$0 $0 $0
SUE QUINT DIRECTOR 0.00
Director
$0 $0 $0
JOSEPH T CESTARO CEO 55.00
Officer Director
$289,480 $9,760 $299,240
MARK L RIZKOWSKY CHIEF COMPLIANCE OFFICER 50.00
Officer
$172,550 $10,837 $183,387
RICHARD J MUNSTER SECRETARY 40.00
Officer
$102,174 $9,159 $111,333
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 $2,344,933 $2,785,187 $1,129,668 $-440,254
2022 $2,593,429 $2,938,233 $2,036,838 $-344,804
2021 $3,505,224 $3,078,595 $2,051,232 $426,629
2020 $3,644,677 $3,740,751 $1,573,018 $-96,074
2019 $3,919,311 $3,900,833 $1,285,850 $18,478
2018 $4,148,985 $4,102,590 $1,074,665 $46,395
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