Is Parachute Credit Counseling Inc Legit?

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.