2021-07-26T15:46:04-05:00 2020-12-31 420714325 RSM US LLP 2021 L STREET NW STE 400 WASHINGTON DC 20036 990 2020-01-01 530132493 NATIONAL FOUNDATION FOR CREDIT COUNSELING INC NATI 2026774300 2000 M STREET NW NO 505 WASHINGTON DC 200363358 REBECCA STEELE PRESIDENT/CEO 2026774300 2021-07-26 1 REBECCA STEELE 999009999 ELIZABETH W HELLER P00397829 2022932200 2021-07-26 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z REBECCA STEELE 2000 M STREET NW NO 505 WASHINGTON DC 200363358 9543593 0 X WWW.NFCC.ORG X 1970 DC THE NFCC MISSION IS TO SUPPORT THE NONPROFIT CREDIT COUNSELING FIELD. (SEE FULL MISSION ON SCH O) 15 15 18 15 0 0 6452638 6235715 3298171 3302156 14994 3301 5741 2421 9771544 9543593 2104145 2594051 0 0 2887726 3034749 0 0 327019 3355104 3035376 8346975 8664176 1424569 879417 6410619 7650485 1004320 1364769 5406299 6285716 X TO PROMOTE THE NATIONAL AGENDA FOR FINANCIALLY RESPONSIBLE BEHAVIOR AND BUILD CAPACITY FOR ITS MEMBERS TO DELIVER THE HIGHEST QUALITY FINANCIAL EDUCATION AND COUNSELING SERVICES. (PLEASE NOTE THAT THIS STATEMENT IS CONTINUED ON SCHEDULE O)THE NFCC IS THE NATION'S LARGEST AND LONGEST SERVING NATIONAL NONPROFIT CREDIT COUNSELING NETWORK, WITH 53 MEMBER AGENCIES AND OVER 270 OFFICES IN COMMUNITIES THROUGHOUT THE UNITED STATES AND ITS TERRITORIES. EACH YEAR, NFCC MEMBERS ASSIST MILLIONS OF CONSUMERS, HELPING MANY TO DRIVE DOWN THEIR DEBT AND TAKE CONTROL OF THEIR FINANCES. 0 0 2609924 1048235 MEMBERSHIP SUPPORT: CONTINUE DEVELOPMENT OF NEW PRODUCTS AND SERVICES FOR MEMBER AGENCIES TO BETTER SERVE CONSUMERS. THESE INCLUDE INNOVATIONS IN DEBT REDUCTION PROGRAMS WHICH EXPANDED AND CREATED NEW DEBT MANAGEMENT PLAN PRODUCTS, UPDATE AND REVISE EXISTING COUNSELOR CERTIFICATION AND MEMBER ACCREDITATION RESOURCES AND FACILITATE AND EXPAND LOCATOR CONNECTIONS TO MEMBERS. THE NFCC CONVENES AN ANNUAL MEMBER MEETING, CONFERENCE WHICH, IN 2020, WERE CONDUCTED VIRTUALLY DUE TO COVID-19 RESTRICTIONS. THE NFCC ALSO MANAGES TWO ANNUAL SURVEYS OF FINANCIAL LITERACY AND READINESS, ONE FOR THE GENERAL POPULATION AND ONE FOCUSED ON THE MILITARY. 1962826 1214017 HOUSING COUNSELING: DEVELOP AND MAINTAIN PARTNERSHIPS WITH THE FEDERAL GOVERNMENT AND INDUSTRY LEADERS, INCLUDING MORTGAGE LENDERS AND SERVICERS, TO HELP NFCC MEMBERS PROVIDE INDIVIDUAL AND GROUP EDUCATION SESSION ON WIDE VARIETY OF HOUSING ISSUES, FROM HOMELESS AND RENTAL COUNSELING TO PRE-HOME OWNERSHIP, DEFAULT AND REVERSE MORTGAGE COUNSELING. IN 2018, THE NFCC STARTED A PROGRAM SPECIFICALLY FOCUSED ON EXPANDED PRE-PURCHASE COUNSELING FOR PROSPECTIVE HOMEBUYERS. IN LATE 2020, THE NFCC LAUNCHED AN EXPANDED RENTAL PROGRAM TO OFFER NEW WAYS FOR RENTERS TO REACH COUNSELING. 955961 494139 2239542 GENERAL FINANCIAL EDUCATION: DEVELOP AND DISTRIBUTE EDUCATIONAL MATERIALS ON THE RESPONSIBLE USE OF CREDIT; SUPPORT COALITIONS OF ORGANIZATIONS NATIONALLY TO ADDRESS NEED FOR PERSONAL FINANCIAL LITERACY. SINCE 2013, THE FOUNDATION HAS DEVELOPED AND SUPPORTED THE USE OF THE SHARPEN YOUR FINANCIAL FOCUS INITIATIVE TO ASSIST CONSUMERS WITH DEBT RESOLUTION AND OTHER FINANCIAL CHALLENGES. 209768 144375 MILITARY FINANCIAL EDUCATION: DEVELOP AND UPDATE EDUCATIONAL MATERIALS AVAILABLE TO SERVICEMEMBERS NATIONWIDE, MILITARY DEPENDENTS, AND THE VETERAN COMMUNITY TO ADDRESS AND IMPROVE FINANCIAL READINESS THROUGH THE RESPONSIBLE USE OF CREDIT. PROGRAM UTILIZES THE SHARPEN YOUR FINANCIAL FOCUS INITIATIVE. CONTINUE SUPPORT AND DEVELOPMENT OF NATIONAL COALITION OF MISSION-ALIGNED ORGANIZATIONS TO SUPPORT MILITARY FINANCIAL EDUCATION. 56572 69 14379 STUDENT LOANS COUNSELING: PROVIDE A NATIONAL STUDENT LOAN PROGRAM TO TRAIN AND SUPPORT MEMBER AGENCIES IN COUNSELING CLIENTS WITH STUDENT LOAN DEBT TO REDUCE AND MANAGE THEIR FINANCIAL BURDEN AND HELP THEM ON A PATH TO FINANCIAL SECURITY. 814748 567075 SMALL BUSINESS OWNER COUNSELING: IN 2017, THE NFCC BEGAN DEVELOPMENT OF A NATIONAL SMALL BUSINESS OWNER COUNSELING PROGRAM WHICH WAS INITIALLY INTEGRATED INTO THE SHARPEN YOUR FINANCIAL FOCUS INITIATIVE. IN 2018, THE NFCC EXPANDED THE PROGRAM TO A MULTI-PART COACHING PROGRAM. EXPENSES RELATING TO THIS INITIATIVE, TO INCLUDE PROGRAM DEVELOPMENT, MANAGEMENT AND TRAINING OF MEMBER AGENCIES ARE INCLUDED IN THIS SERVICE LINE 245078 174375 HISPANIC FINANCIAL EDUCATION: MAKE AVAILABLE EDUCATIONAL MATERIALS AND SUPPORT TO MEMBER AGENCIES AND CONSUMERS TO ASSIST THE HISPANIC COMMUNITY WITH FINANCIAL LITERACY EDUCATION AND BY ADDRESSING THEIR RESPONSIBLE USE OF CREDIT USING THE SHARPEN YOUR FINANCIAL FOCUS INITIATIVE. COUNSELING IN SPANISH AND BILINGUAL EDUCATION MATERIALS ARE AVAILABLE. DEVELOP AND MAINTAIN PARTNERSHIPS WITH OTHER NATIONAL ORGANIZATIONS. 1326166 885894 14379 6854877 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 22 0 1 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X MATT RIBE 2026774337 2000 M STREET NW NO 505 WASHINGTON DC 200363358 DEBBIE BIANUCCI CHAIR 1.00 X X 0 0 0 KRISTEN HOLT VICE CHAIR 1.00 X X 0 0 0 KURT GROSSHEIM TREASURER 1.00 X X 0 0 0 JO ANN BAREFOOT TRUSTEE 1.00 X X 0 0 0 GLORIA BANKS TRUSTEE 1.00 X 0 0 0 GENGER CHARLES TRUSTEE 1.00 X 0 0 0 MIKE CROXSON TRUSTEE 1.00 X 0 0 0 JAY DESMARTEAU TRUSTEE 1.00 X 0 0 0 DUANE ELMER TRUSTEE 1.00 X 0 0 0 JIM TRIGGS TRUSTEE 1.00 X 0 0 0 MARY LOFTUS TRUSTEE 1.00 X 0 0 0 CINDY SEREMEK TRUSTEE 1.00 X 0 0 0 JEFF WITHERSPOON TRUSTEE 1.00 X 0 0 0 SARAH GOLDFRANK TRUSTEE 1.00 X 0 0 0 TODD CAPITAO TRUSTEE 1.00 X 0 0 0 REBECCA STEELE CEO 50.00 X 534928 0 145676 JEFFREY FAULKNER COO/CFO 50.00 X 280052 0 98215 PETE KLIPA SVP, CREDITOR RELATIONS 50.00 X 155163 0 22200 ELLEN GOURY VP, FINANCE 50.00 X 156641 0 31328 SHERRILL BERK SVP, STRATEGIC PARTNERSHIPS 50.00 X 142840 0 24231 MATT RIBE GENERAL COUNSEL & STRATEGIC PROJECTS 50.00 X 146939 0 28342 HERMOND PALMER VP, HOUSING 50.00 X 157587 0 10980 1574150 0 360972 10 0 1 0 JIVANTA WEALTH SCIENCE INSTITUTE 10223 MEADE LANE EDEN PRAIRIE MN 55347 INFORMATION TECHNOLOGY CONSULTING 332398 FAEGRE DRINKER BIDDLE & REATH LLP ONE LOGAN SQUARE SUITE 2000 PHILADELPHIA PA 19103 LEGAL CONSULTING 215566 HILLTOP CONSULTANTS INC 1990 K STREET SUITE 600 WASHINGTON DC 20006 INFORMATION TECHNOLOGY CONSULTING 174807 HARRIS INSIGHTS & ANALYTICS 300 N LASALLE STREET SUITE 5575 CHICAGO IL 60654 SURVEY 132200 4 1619364 4616351 6235715 NATIONAL LOCATOR LINE 900099 2073152 2073152 MEMBERSHIP DUES 900099 912300 912300 CERTIFICATION FEES 900099 166390 166390 SPONSORSHIPS 900099 99350 99350 STUDENT LOAN PORTAL 900099 14379 14379 36585 36585 3302156 3301 3301 MISCELLANEOUS 900099 2421 2421 2421 9543593 3302156 0 5722 2594051 2594051 1061318 676627 289587 95104 1740036 1108351 481357 150328 76243 48750 19850 7643 157152 100483 40914 15755 104014 41108 62906 44925 17755 27170 520813 409767 107367 3679 1026577 1020052 6000 525 170317 111348 56975 1994 496865 373190 123620 55 374399 230453 111600 32346 15090 11989 1736 1365 11625 9760 1813 52 119283 73422 35556 10305 37816 6883 28965 1968 BAD DEBT 59342 10801 45453 3088 DUES & SUBSCRIPTIONS 52213 9504 39992 2717 MISCELLANEOUS 1812 328 1389 95 TRAINING 229 214 15 56 41 15 8664176 6854877 1482280 327019 1924840 5313858 3394440 1163117 403837 336228 10052 7873 304137 401997 1091862 825506 232538 266356 140775 161056 6410619 7650485 109858 486548 737159 811655 157303 66566 1004320 1364769 X 1321363 1615147 4084936 4670569 5406299 6285716 6410619 7650485 879417 0 X X 0 1 X 1 1 1 X 7408659 10019762 3874846 7403084 7148015 35854366 7408659 10019762 3874846 7403084 7148015 35854366 12579921 23274445 65404 17921 4191 14994 3301 105811 27967 33895 11865 5741 2421 81889 36042066 11974245 0.64580 0.66350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INCOME FROM ACTIVITIES NOT REGULARLY CARRIED ON RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 180653 180653 8483523 8664176 583209 145802 0 0 748402 637046 569447 583209 2538104 3807156 85246 23343 20978 180653 310220 187101 159262 142362 145802 634527 951791 520866 488249 32617 61514 56424 5090 509482 280833 228649 266356 DEFERRED RENT 66566 66566 9543593 0 9543593 0 9543593 8664176 0 8664176 0 8664176 1 MONEY MANAGEMENT INTERNATIONAL 14141 SOUTHWEST FREEWAY SUITE 1000 SUGAR LAND TX 77478 541837741 501 (C) (3) 333672 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT FAMILY SERVICE ASSOCIATION 1930 N 8TH ST STE 100 SHEBOYGAN WI 53081 391945061 501 (C) (3) 235429 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT INCHARGE DEBT SOLUTION 5750 MAJOR BLVD SUITE 300 ORLANDO FL 32819 330770440 501 (C) (3) 165885 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF PUERTO RICO 1607 PONCE DELEON COBIANS PLAZA STE GM09 SAN JUAN PR 00909 660471798 501 (C) (3) 156284 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF CENTRAL OHIO 690 TAYLOR RD STE 110 GAHANNA OH 43230 310731111 501 (C) (3) 127770 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT SPRINGBOARD NONPROFIT CONSUMER CREDIT MANAGEMENT INC 4351 LATHAM STREET RIVERSIDE CA 92501 330656671 501 (C) (3) 114284 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT AMERICAN CONSUMER CREDIT COUNSELING 130 RUMFORD AVE SUITE 202 AUBURNDALE MA 02466 043166982 501 (C) (3) 94128 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT TAKE CHARGE AMERICA 20620 N 19TH AVE PHOENIX AZ 85027 860593598 501 (C) (3) 88861 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT GREENPATH INC 7442 SOLUTION CENTER CHICAGO IL 60677 386142925 501 (C) (3) 86168 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT HOUSING AND CREDIT COUNSELING INC 1195 SW BUCHANAN STE 101 TOPEKA KS 66604 480822466 501 (C) (3) 84066 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT GOODWILL INDUSTRIES OF NORTH CENTRAL WISCONSIN 1800 APPLETON RD PO BOX 335 MENASHA WI 54952 391496649 501 (C) (3) 80829 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF MARYLAND AND DELAWARE 757 FREDERICK RD 2ND FLR BALTIMORE MD 21228 520846275 501 (C) (3) 77002 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT NORTH SEATTLE COMMUNITY COLLEGE FOUNDATION 2815 2ND AVENUE SUITE 280 SEATTLE WA 98121 911163554 501 (C) (3) 76390 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER DEBT COUNSELORS INC 831 W MORSE BLVD WINTER PARK FL 32789 593458266 501 (C) (3) 72290 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT GARDEN STATE CONSUMER CREDIT COUNSELING INC 225 WILLOWBROOK RD FREEHOLD NJ 07728 223120920 501 (C) (3) 67395 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF DELAWARE VALLEY 1608 WALNUT ST 10TH FLR PHILADELPHIA PA 19103 231671903 501 (C) (3) 64902 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER EDUCATION SERVICES INC 3700 BARRETT DR RALEIGH NC 27609 562106758 501 (C) (3) 60428 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT LUTHERAN SOCIAL SERVICE OF MINNESOTA 424 W SUPERIOR ST STE 600 DULUTH MN 55802 410872993 501 (C) (3) 57569 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF ROCHESTER 1000 UNIVERSITY AVENUE SUITE 900 ROCHESTER NY 14607 160972260 501 (C) (3) 54870 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF BUFFALO 40 GARDENVILLE PKWY STE 300 WEST SENECA NY 14224 160909583 501 (C) (3) 46162 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING OF SPRINGFIELD MISSOURI INC 1515 S GLENSTONE SPRINGFIELD MO 65804 431483251 501 (C) (3) 42130 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CREDIT ADVISORS FOUNDATION 1818 S 72ND ST OMAHA NE 68124 470751100 501 (C) (3) 39875 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT TABOR COMMUNITY SERVICES INC 308 EAST KING STREET LANCASTER PA 17602 231731792 501 (C) (3) 39576 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF NORTHERN ILLINOIS INC 13707 W JACKSON ST SUITE B WOODSTOCK IL 60098 363185383 501 (C) (3) 38184 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CREDIT COUNSELING OF ARKANSAS 1111 ZION ROAD FAYETTEVILLE AR 72703 710772094 501 (C) (3) 34083 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF WESTERN NORTH CAROLINA INC 50 S FRENCH BROAD AVE STE 212 ASHEVILLE NC 28801 561056077 501 (C) (3) 28418 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF THE SAVANNAH AREA INC 7505 WATERS AVE PARK SOUTH STE C-11 C-11 SAVANNAH GA 31406 580958705 501 (C) (3) 25549 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF FORSYTH COUNTY 7820 N POINT BLVD STE 100 WINSTON SALEM NC 27106 561015074 501 (C) (3) 21550 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE INC 1201 W WALNUT SALINA KS 67401 480995970 501 (C) (3) 21353 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT ADVANTAGE CREDIT COUNSELING SERVICE INC 2403 SIDNEY ST STE 400 PITTSBURGH PA 15203 251201741 501 (C) (3) 17954 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT FAMILYMEANS 1875 NORTHWESTERN AVENUE STILLWATER MN 55082 416045574 501 (C) (3) 17587 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT FAMILY & COMMUNITY SERVICES INC 143 GOUGLER AVE KENT OH 44240 341902451 501 (C) (3) 16497 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT FAMILY COUNSELING CENTER OF MOBILE 705 OAK CIRCLE DRIVE EAST MOBILE AL 36609 630388685 501 (C) (3) 15675 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT JC VISION AND ASSOCIATES INC PO BOX 1972 HINESVILLE GA 31313 582525433 501 (C) (3) 15600 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT FAMILY GUIDANCE CENTER 17 HWY 70 SE HICKORY NC 28602 566020417 501 (C) (3) 15404 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF THE MID-OHIO VALLEY 2715 MURDOCH AVE SUITE B4 PARKERSBURG WV 26101 237124716 501 (C) (3) 14367 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CONSUMER CREDIT COUNSELING SERVICE OF SOUTHERN OREGON INC 820 CRATER LK AVE STE 202 MEDFORD OR 97440 930585893 501 (C) (3) 9879 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT CHESTNUT HEALTH SYSTEMS INC 1003 MARTIN LUTHER KING DR BLOOMINGTON IL 61701 421692441 501 (C) (3) 9425 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT LUTHERAN SOCIAL SERVICES OF SOUTH DAKOTA INC 705 E 41ST ST STE 100 SIOUX FALLS SD 57105 460224731 501 (C) (3) 7205 HOUSING, FINANCIAL EDUCATION, AND PROGRAM SUPPORT 39 0 PART I, LINE 2: THE NFCC PERFORMS PERIODIC COMPLIANCE REVIEWS OF THE SUPPORTING DOCUMENTATION FOR THE FUNDS USED AND TAKES APPROPRIATE CORRECTIVE ACTION IF USAGE DOES NOT COMPLY WITH THE GRANT REQUIREMENTS. X X X X X X 0 0 0 0 0 0 0 0 0 REBECCA STEELE CEO 444928 0 90000 0 0 0 131100 0 14576 0 680604 0 0 0 JEFFREY FAULKNER COO/CFO 244052 0 36000 0 0 0 73228 0 27434 0 380714 0 0 0 ELLEN GOURY VP, FINANCE 145840 0 10801 0 0 0 9241 0 22762 0 188644 0 0 0 PETE KLIPA SVP, CREDITOR RELATIONS 152349 0 2814 0 0 0 9302 0 12898 0 177363 0 0 0 MATT RIBE GENERAL COUNSEL & STRATEGIC PROJECTS 139232 0 7707 0 0 0 8700 0 20062 0 175701 0 0 0 HERMOND PALMER VP, HOUSING 150576 0 7011 0 0 0 9180 0 3198 0 169965 0 0 0 SHERRILL BERK SVP, STRATEGIC PARTNERSHIPS 139777 0 3063 0 0 0 8648 0 15798 0 167286 0 0 0 FORM 990, PART V, LINE 2B: NFCC'S EMPLOYEES ARE CONTRACTED THROUGH JUSTWORKS, A PROFESSIONAL EMPLOYER ORGANIZATION. JUSTWORKS IS RESPONSIBLE FOR FILING ALL RELATED EMPLOYMENT TAX FORMS, INCLUDING THE W3. FORM 990, PART VI, SECTION A, LINE 1 THE BOARD EXECUTIVE COMMITTEE IS RESPONSIBLE FOR CONDUCTING THE BUSINESS OF, AND HAS THE POWER AND AUTHORITY TO ACT ON BEHALF OF, THE BOARD IN BETWEEN THE MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE NFCC BYLAWS PROVIDE, IN RELEVANT PART, THE FOLLOWING: CLASSES: THE FOUNDATION SHALL HAVE ONE CLASS OF MEMBERS IN ORDER TO BE A MEMBER AN ORGANIZATION MUST: BE TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. BE DULY QUALIFIED AND EXISTING UNDER THE LAWS OF THE DISTRICT OF COLUMBIA, OR ANY STATES OR TERRITORY OF THE UNITED STATES OF AMERICA. PROVIDE FINANCIAL COUNSELING SERVICES AND ACT IN COMPLIANCE WITH ALL APPLICABLE FEDERAL AND STATE LAWS AND REGULATIONS. OBTAIN AND MAINTAIN THE FOUNDATION-APPROVED ACCREDITATION. COMPLY WITH THE NFCC'S MEMBER QUALITY STANDARDS. FORM 990, PART VI, SECTION A, LINE 7A THE NFCC BYLAWS PROVIDE, IN RELEVANT PART: ARTICLE II, SECTION 7: ANNUAL MEETING: THE ANNUAL MEETING OF MEMBERS SHALL BE HELD PRIOR TO NOVEMBER 1 OF EACH YEAR, AND SHALL BE FOR THE PURPOSE OF ELECTING MEMBER-REPRESENTATIVE TRUSTEES TO THE BOARD, RATIFYING THE ELECTION OF AT-LARGE TRUSTEES TO THE BOARD, ELECTING MEMBERS OF THE COUNCIL ON MEMBER AFFAIRS, AND FOR THE TRANSACTION OF SUCH OTHER BUSINESS AS MAY COME BEFORE THE MEETING. ARTICLE III, SECTION 4: ELECTION OF AT-LARGE TRUSTEES: EXCEPT AS OTHERWISE SET FORTH IN THIS ARTICLE, NOMINEES FOR AT-LARGE TRUSTEES SHALL BE RECOMMENDED TO THE BOARD BY THE NOMINATING COMMITTEE AND SHALL BE ELECTED BY A MAJORITY VOTE OF THE BOARD AND SUBJECT TO RATIFICATION BY MEMBERS AT THE NEXT ANNUAL MEETING OF MEMBERS. THE SLATE OF AT-LARGE TRUSTEES SHALL BE DISTRIBUTED TO MEMBERS AT LEAST FIFTEEN (15) DAYS PRIOR TO THE ANNUAL MEETING OF MEMBERS. AT THE ANNUAL MEETING OF MEMBERS, MEMBERS SHALL BE ENTITLED TO VOTE TO RATIFY THE ELECTION OF AT-LARGE TRUSTEES BY BALLOT LISTING THE AT-LARGE TRUSTEES SUBJECT TO RATIFICATION. MEMBERS MAY VOTE TO RATIFY THE ELECTION OF AT-LARGE TRUSTEES OR WITHHOLD THEIR VOTE TO RATIFY THE ELECTION OF AT-LARGE TRUSTEES EITHER AS A SLATE OF AT-LARGE TRUSTEES OR AS INDIVIDUAL AT-LARGE TRUSTEES. FOR PURPOSES OF SECTION 3 OF THIS ARTICLE, THE TERM OF OFFICE FOR AN AT-LARGE TRUSTEE SHALL BEGIN AT THE CONCLUSION OF THE ANNUAL MEETING OF MEMBERS AT WHICH THE AT-LARGE TRUSTEE IS RATIFIED BY MEMBERS. SECTION 5: ELECTION OF MEMBER-REPRESENTATIVE TRUSTEES: EXCEPT AS OTHERWISE SET FORTH IN THIS ARTICLE, MEMBER-REPRESENTATIVE TRUSTEES SHALL BE ELECTED BY MEMBERS AT THE ANNUAL MEETING OF MEMBERS FROM A LIST OF ELIGIBLE CANDIDATES WHO HAVE EXPRESSED THEIR WRITTEN INTENTION TO STAND FOR ELECTION TO THE SECRETARY OF THE COUNCIL OF MEMBER AFFAIRS AT LEAST THIRTY (30) DAYS PRIOR TO THE ANNUAL MEETING OF MEMBERS. THAT LIST SHALL BE DISTRIBUTED TO MEMBERS AT LEAST FIFTEEN (15) DAYS PRIOR TO THE ANNUAL MEETING OF MEMBERS. ALL ELIGIBLE CANDIDATES SHALL APPEAR ON A SINGLE BALLOT, AND THE CANDIDATES RECEIVING THE HIGHEST TOTAL NUMBER OF VOTES SHALL BE ELECTED TO THE OPEN POSITIONS, RESPECTIVELY, FOR THE TERM DESIGNATED BY THIS ARTICLE. TO BE AN ELIGIBLE CANDIDATE UNDER THIS SECTION, A CANDIDATE MUST BE THE VOTING REPRESENTATIVE OF A MEMBER IN GOOD STANDING. MEMBERS OF THE COUNCIL OF MEMBER AFFAIRS ARE NOT ELIGIBLE TO BE CANDIDATES FOR ELECTION AS MEMBER-REPRESENTATIVE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B SEE LINE 7A. FORM 990, PART VI, SECTION B, LINE 11B THE IRS FORM 990 IS INITIALLY PREPARED BY THE NFCC'S PUBLIC ACCOUNTING FIRM, WITH INPUT AND REVIEW BY COUNSEL. NFCC STAFF THEN FINALIZES THE FORM WITH INPUT FROM THE BOARD TREASURER. THE FINALIZED FORM IS THEN PRESENTED TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C PLEASE NOTE THAT ALL TRUSTEES, OFFICERS AND COMMITTEE MEMBERS ("INTERESTED PERSONS") ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO ANNUALLY AFFIRM HAVING RECEIVED, READ AND UNDERSTOOD THE POLICY AND HAVE AGREED TO COMPLY WITH THE POLICY. THE POLICY, IN RELEVANT PART, REQUIRES: DISCLOSURE REQUIREMENT: IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES AND/OR COMMITTEE MEMBERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. CONFLICT DETERMINATION BY BOARD: FOLLOWING FULL DISCLOSURE OF AN ACTUAL OR POSSIBLE CONFLICT, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING, AS THE CASE MAY BE, WHILE THE DETERMINATION OF A CONFLICT IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT EXISTS. THE POLICY FURTHER SPECIFIES THE PROCEDURE FOR ADDRESSING CONFLICTS THAT ARISE AND VIOLATIONS OF THE POLICY. PROCEDURES FOR ADDRESSING POSSIBLE CONFLICTS: (A) AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE ACTUAL OR POSSIBLE CONFLICT. (B) THE BOARD OR THE COMMITTEE, AS THE CASE MAY BE, MAY, IF APPROPRIATE, APPOINT ONE OR MORE DISINTERESTED PERSONS OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. (C) AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE, AS THE CASE MAY BE, WILL DETERMINE WHETHER THE NFCC CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT. (D) IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER THE CIRCUMSTANCES WITHOUT PRODUCING A CONFLICT, THE BOARD OR THE COMMITTEE, AS THE CASE MAY BE, WILL DETERMINE, BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS, (I) WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE NFCC'S BEST INTEREST FOR ITS OWN BENEFIT, AND (II) WHETHER ITS TERMS AND CONDITIONS ARE FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATIONS, THE BOARD OR THE COMMITTEE, AS THE CASE MAY BE, WILL MAKE ITS DECISION AS TO WHETHER TO AUTHORIZE THE NFCC TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY: (A) IF THE BOARD OR THE COMMITTEE, AS THE CASE MAY BE, HAS REASONABLE CAUSE TO BELIEVE A PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT, IT WILL INFORM THE PERSON OF THE BASIS FOR THAT BELIEF AND AFFORD THE PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. (B) IF, AFTER HEARING THE PERSON'S RESPONSE AND MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR THE COMMITTEE, AS THE CASE MAY BE, DETERMINES THAT THE PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT, IT WILL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE NATIONAL FOUNDATION FOR CREDIT COUNSELING'S BOARD OF TRUSTEES ENACTED THE FOLLOWING POLICY ON THE PROCESS OF DETERMINING COMPENSATION FOR THE NFCC'S PRESIDENT AND CHIEF EXECUTIVE OFFICER; AND OTHER OFFICERS AND KEY EMPLOYEES OF THE NFCC WHOSE COMPENSATION IS REQUIRED TO BE DISCLOSED ON FORM 990. THE PROCESS INCLUDES ALL OF THE FOLLOWING ELEMENTS: 1. REVIEW AND APPROVAL: (A) COMPENSATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER IS REVIEWED AND APPROVED BY THE NFCC'S EXECUTIVE COMMITTEE, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. (B) COMPENSATION OF THE OTHER OFFICERS AND KEY EMPLOYEES IS APPROVED BY THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND OVERALL STAFF COMPENSATION IS REVIEWED ON AN ANNUAL BASIS BY THE NFCC'S BOARD OF TRUSTEES OR THE EXECUTIVE COMMITTEE. 2. USE OF DATA AS TO COMPARABLE COMPENSATION: THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING: THE EXECUTIVE COMMITTEE RECORDS THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT IN COMMITTEE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 NFCC DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR.