DEBTWAVE CREDIT COUNSELING INC DBA SAN DIEGO FINANCIAL LITERACY CENT

EIN: 912156504 501(c)(3) Human Services

ESCONDIDO, CA

Total Revenue
$2,888,871
Total Expenses
$3,451,397
Total Assets
$524,184
Net Assets
$115,602
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
CA
Phone
8886864040
Tax Period
2023-01-01 to 2023-12-31

DEBTWAVE CREDIT COUNSELING INC DBA SAN DIEGO FINANCIAL LITERACY CENT, founded in 2001, is a community nonprofit in the Human Services sector that reported $2.9M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $3.5M exceeded revenue, resulting in a 19% operating deficit.

Mission

IT IS OUR COMMITMENT TO EDUCATE ON THE PROPER USE OF CREDIT THROUGH BUDGET MANAGEMENT, TO OFFER SOUND COUNSELING AND TO ASSIST CLIENTS TO REDUCE AND ELIMINATE DEBT. WE EDUCATE AND EMPOWER INDIVIDUALS AND FAMILIES TO MAKE SOUND FINANCIAL DECISIONS AND DEVELOP POSITIVE PERSONAL FINANCE HABITS FOR LIFE.

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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 $691,425
Program Service Revenue $2,236,397
Investment Income $0
Other Revenue $-38,951
TOTAL REVENUE $2,888,871

Expense Breakdown

Grants Paid $12,000
Salaries & Benefits $1,673,880
Fundraising Expenses $0
Program Expenses $2,825,689
Other Expenses $1,765,517
TOTAL EXPENSES $3,451,397

Year-over-Year Comparison

2023 2022 Change
Revenue $2,888,871 $3,200,189 -0.1%
Expenses $3,451,397 $3,601,751 0.0%
Net Income $-562,526 $-401,562 +0.4%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
7
Employees
29
Volunteers
75

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
$201,096
Total Directors
7
$201,096
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL MARSDEN Executive Dir. 40.00
Officer Director
$201,096 $0 $201,096
ANTONY MURIGU Chairman 5.00
Officer Director
$0 $0 $0
MICHAEL S BUTSKO Vice President 1.00
Officer Director
$0 $0 $0
DOUG TOKARIK Secretary 1.00
Officer Director
$0 $0 $0
JAMES MARSH BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN CASARIETTI Treasurer 1.00
Officer Director
$0 $0 $0
BRIANNA LEISSOO BOARD MEMBER 1.00
Director
$0 $0 $0
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 $2,888,871 $3,451,397 $524,184 $-562,526
2022 $3,200,189 $3,601,751 $1,006,587 $-401,562
2021 $5,189,974 $4,411,039 $1,629,187 $778,935
2020 $5,070,364 $5,536,835 $1,416,404 $-466,471
2019 $5,270,428 $5,290,001 $1,530,724 $-19,573
2018 $5,058,077 $5,237,366 $1,644,823 $-179,289
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