Parachute Credit Counseling Inc

Parachute Credit Counseling Inc. maintains stable operations with no reported officer compensation, consistently balancing revenues and expenses.

EIN: 160909583 · West Seneca, NY · NTEE: P51Z · Updated: 2026-03-28

$1.7MRevenue

$1.5MAssets

85/100Mission Score (Excellent)

P51Z

About Parachute Credit Counseling Inc

Parachute Credit Counseling Inc (EIN: 160909583) is a nonprofit organization based in West Seneca, NY, classified under NTEE code P51Z. The organization reported total revenue of $1.7M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parachute Credit Counseling Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

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.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Parachute Credit Counseling Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Parachute Credit Counseling Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

No officer compensation has been reported across all available filings, which is highly unusual for an organization of this size with annual revenues consistently above $1.2 million. This could indicate a volunteer-led executive team or compensation structured in a way not reported as officer compensation on the 990.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Parachute Credit Counseling Inc's IRS 990 filings:

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

The following positive indicators were identified for Parachute Credit Counseling Inc:

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.

Frequently Asked Questions about Parachute Credit Counseling Inc

Is Parachute Credit Counseling Inc. financially stable?

Yes, the organization appears financially stable. Assets consistently exceed liabilities (e.g., $1,339,233 in assets vs. $183,086 in liabilities in 2023), and revenues generally cover expenses over time, despite minor deficits in some years like 2023.

How does Parachute Credit Counseling Inc. compensate its leadership?

Based on the provided IRS 990 data, Parachute Credit Counseling Inc. reports 0% officer compensation across all 13 filings. This suggests that executive leadership may be volunteer-based or compensated through means not categorized as officer compensation on the 990 form.

What is the trend in the organization's revenue and expenses?

Revenue and expenses have remained relatively consistent over the past decade, generally fluctuating between $1.2 million and $2 million annually. There isn't a significant growth or decline trend, indicating stable operational scale.

Filing History

IRS 990 filing history for Parachute Credit Counseling Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Parachute Credit Counseling Inc's revenue has grown by 4.4%, moving from $1.6M to $1.7M. Total assets increased by 50.1% over the same period, from $892K to $1.3M. Total functional expenses rose by 9.9%, from $1.6M to $1.7M. In its most recent filing year (2023), Parachute Credit Counseling Inc reported a deficit of $49K, with expenses exceeding revenue. The organization holds $183K in liabilities against $1.3M in assets (debt-to-asset ratio: 13.7%), resulting in net assets of $1.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.7M	$1.7M	$1.3M	$183K	—	View 990
2022	$1.7M	$1.7M	$1.6M	$424K	—	View 990
2021	$2.0M	$1.7M	$1.4M	$177K	—	View 990
2020	$1.9M	$1.8M	$1.3M	$404K	—	View 990
2019	$1.7M	$1.6M	$902K	$182K	—	View 990
2018	$1.6M	$1.5M	$862K	$269K	—	View 990
2017	$1.4M	$1.4M	$797K	$201K	—	View 990
2016	$1.3M	$1.3M	$697K	$122K	—	View 990
2015	$1.3M	$1.3M	$698K	$86K	—	View 990
2014	$1.5M	$1.5M	$767K	$97K	—	View 990
2013	$1.6M	$1.5M	$935K	$188K	—	View 990
2012	$1.5M	$1.5M	$918K	$210K	—	View 990
2011	$1.6M	$1.6M	$892K	$216K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.7M, expenses of $1.7M, and assets of $1.3M (revenue -2.5% year-over-year).
2022: Revenue of $1.7M, expenses of $1.7M, and assets of $1.6M (revenue -16.0% year-over-year).
2021: Revenue of $2.0M, expenses of $1.7M, and assets of $1.4M (revenue +8.3% year-over-year).
2020: Revenue of $1.9M, expenses of $1.8M, and assets of $1.3M (revenue +9.6% year-over-year).
2019: Revenue of $1.7M, expenses of $1.6M, and assets of $902K (revenue +9.5% year-over-year).
2018: Revenue of $1.6M, expenses of $1.5M, and assets of $862K (revenue +10.2% year-over-year).
2017: Revenue of $1.4M, expenses of $1.4M, and assets of $797K (revenue +10.4% year-over-year).
2016: Revenue of $1.3M, expenses of $1.3M, and assets of $697K (revenue +0.8% year-over-year).
2015: Revenue of $1.3M, expenses of $1.3M, and assets of $698K (revenue -13.3% year-over-year).
2014: Revenue of $1.5M, expenses of $1.5M, and assets of $767K (revenue -7.1% year-over-year).
2013: Revenue of $1.6M, expenses of $1.5M, and assets of $935K (revenue +2.8% year-over-year).
2012: Revenue of $1.5M, expenses of $1.5M, and assets of $918K (revenue -3.3% year-over-year).
2011: Revenue of $1.6M, expenses of $1.6M, and assets of $892K.

Data Sources and Methodology

This transparency report for Parachute Credit Counseling Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.