No reported officer compensation, which is unusual for an organization of this size and could indicate a lack of transparency regarding executive remuneration if compensation is provided through other means.
Strengths
Consistent financial stability with assets significantly exceeding liabilities (e.g., $1,339,233 assets vs. $183,086 liabilities in 2023).
Long history of IRS 990 filings (13 filings), indicating consistent transparency.
Absence of reported officer compensation suggests a strong commitment to directing funds towards the mission, assuming executive roles are genuinely unpaid or minimally compensated.
Spending Breakdown
How Parachute Credit Counseling Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Parachute Credit Counseling Inc
Is Parachute Credit Counseling Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Parachute Credit Counseling Inc (EIN: 160909583) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
Is Parachute Credit Counseling Inc a good charity to donate to?
Parachute Credit Counseling Inc has a Mission Score of 85/100. Revenue: $1.7M. Assets: $1.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Parachute Credit Counseling Inc?
The Employer Identification Number (EIN) for Parachute Credit Counseling Inc is 160909583. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Parachute Credit Counseling Inc spend its money?
Parachute Credit Counseling Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Parachute Credit Counseling Inc's tax-exempt status?
You can verify Parachute Credit Counseling Inc's tax-exempt status using EIN 160909583 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Parachute Credit Counseling Inc. demonstrates consistent financial activity, with revenues and expenses generally balancing out over the past decade. For instance, in 2023, expenses slightly exceeded revenue ($1,704,761 vs. $1,656,143), indicating a minor operating deficit for that year. However, the organization maintains a healthy asset base, reported at $1,339,233 in 2023, which provides a buffer against short-term fluctuations. The absence of reported officer compensation across all filings suggests a commitment to directing funds towards its mission, or that executive roles are filled by volunteers or compensated through other means not categorized as officer compensation on the 990.
The organization's financial health appears stable, with assets consistently exceeding liabilities. For example, in 2023, assets were $1,339,233 against liabilities of $183,086. This strong financial position indicates good stewardship of resources. While specific program spending ratios are not detailed in the provided data, the consistent operational scale and lack of executive compensation suggest a focus on mission delivery. The organization's long filing history (13 filings) also points to a consistent level of transparency.