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
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Parachute Credit Counseling Inc is mapped to EIN 160909583.
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13 stored filing years available.
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| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1.2 |
| Net Assets | $1.2M |
| Transparency Score | 85/100 |
Search Intent Cockpit
Parachute Credit Counseling Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Parachute Credit Counseling Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Parachute Credit Counseling Inc in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $1.7M and expenses of $1.7M.
Revenue and Expenses
Parachute Credit Counseling Inc reported $1.7M in revenue and $1.7M in expenses, a deficit of $49K.
Executive Compensation
Top officer compensation appears as $1.2 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
85/100 mission score, 1 red flag, and 3 strengths are shown from structured and AI review.
Is Parachute Credit Counseling Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $1.4M (85%) |
Across stored filings, Parachute Credit Counseling Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 1 red flag identified |
| Mission spend | 85% to programs | Excellent |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Human Services context |
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Parachute Credit Counseling Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
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.
Organization Overview
Parachute Credit Counseling Inc is a mid-size nonprofit that has been operating for 59 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-48,618 |
| Total Assets | $1.3M |
| Total Liabilities | $183K |
| Net Assets | $1.2M |
| Operating Margin | -2.9% |
| Debt-to-Asset Ratio | 13.7% |
| Months of Reserves | 9.4 months |
Financial Health Grade: B
In 2023, Parachute Credit Counseling Inc reported a deficit of $49K with expenses exceeding revenue, holds 9.4 months of operating reserves (strong position), has a debt-to-asset ratio of 13.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Parachute Credit Counseling Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.5% | +0.4% | -15.0% |
| 2022 | -16.0% | -0.1% | +15.4% |
| 2021 | +8.3% | -3.1% | +9.0% |
| 2020 | +9.6% | +9.4% | +38.9% |
| 2019 | +9.5% | +3.7% | +4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1967 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $49K, with expenses exceeding revenue.
- Debt-to-asset ratio: 13.7%.
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 a legitimate charity?
Parachute Credit Counseling Inc (EIN: 160909583) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.7M. 1 red flag identified. 3 strengths noted. Financial health grade: B.
How does Parachute Credit Counseling Inc spend its money?
Parachute Credit Counseling Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Parachute Credit Counseling Inc tax-deductible?
Parachute Credit Counseling Inc is registered as a tax-exempt nonprofit (EIN: 160909583). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Parachute Credit Counseling Inc CEO make?
Parachute Credit Counseling Inc's highest-compensated officer earns $1.2 annually. The organization reported $1.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Parachute Credit Counseling Inc's spending goes to programs?
Parachute Credit Counseling Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Parachute Credit Counseling Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Parachute Credit Counseling Inc is above average for NTEE category P51Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Parachute Credit Counseling Inc located?
Parachute Credit Counseling Inc is headquartered in West Seneca, New York and files with the IRS under EIN 160909583. It is classified under NTEE code P51Z.
How many years of IRS 990 filings does Parachute Credit Counseling Inc have?
Parachute Credit Counseling Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.7M in total revenue.
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. % | |
|---|---|---|---|---|---|---|
| 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.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Parachute Credit Counseling Inc:
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.