National Foundation for Credit Counseling, Inc. HQ Parent

Better financial futures for all.

aka NFCC   |   Washington, DC   |
GuideStar Charity Check

National Foundation for Credit Counseling, Inc.

EIN: 53-0132493


The National Foundation For Credit Counseling was founded to provide community-based services dedicated to delivering professional consumer credit education, confidential counseling, and debt reduction programs to all segments of the community.

Ruling year info



Mike Croxson

Main address

2033 K Street NW Suite 425

Washington, DC 20006 USA

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Subject area info

Foreclosure prevention

Home ownership

Housing loss prevention

Anti-predatory lending

Financial counseling

Population served info


Ethnic and racial groups

Economically disadvantaged people


Military personnel

Show more populations served

NTEE code info

Financial Counseling, Money Management (P51)

Human Services - Multipurpose and Other N.E.C. (P99)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms




Programs and results

What we aim to solve

SOURCE: Self-reported by organization

According to the Federal Reserve Board, 40% of Americans would be unable to cover a $400 emergency expense and would have to resort to a loan or selling something of value. The NFCC's 2018 Consumer Financial Literacy Survey found that 25% of U.S. adults admit they do not pay all their bills on time. 32% of Millennials feel not at all, or very not knowledgeable about how their credit score is determined, and 13% of them have debts in collection. 49% of those who have tried to purchase a home have faced barriers. 59 million Americans, nearly a quarter of the population, would reach out to a professional non-profit agency for help if they were having financial problems related to debt. While the U.S. has continued a nearly 7 year expansion since the Global Financial Crisis, Low to Moderate Income (LMI) households still have a demonstrated need for financial assistance.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Financial Counseling

The National Foundation for Credit Counseling (NFCC) is a non-profit organization that provides a variety of financial counseling services to consumers at low or no cost. We offer credit counseling, which includes financial assessments and personalized action plans. For consumers with significant unsecured debt, the NFCC can recommend a Debt Management Plans (DMPs) consolidate debts, negotiate with creditors, and manage payments. The NFCC also provides housing counseling, assisting with homebuying, foreclosure prevention, and reverse mortgages. We offer bankruptcy counseling and education, student loan counseling, and financial education through workshops and online resources. Small business owners, military personnel, and veterans can access specialized financial coaching and counseling. Additionally, the NFCC assists with disaster recovery counseling and provides solutions for identity theft prevention and recovery.

Population(s) Served
Economically disadvantaged people

The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling® (NFCC®) and a broad cross-section of supporters who are committed to increasing the financial well-being of Americans. The Sharpen program consists of a thorough financial review conducted one-on-one with a certified financial counselor. The evaluation will identify your most pressing financial challenges and culminate in a customized Action Plan with concrete steps to achieve financial stability.

Furthermore, the Sharpen program has been evaluated in an independent study conducted by the Ohio State University. The study found that nonprofit credit counseling services offered by the NFCC can result in statistically significant improvements in key financial metrics such as debt load and credit score when compared to a demographically similar, uncounseled control group. These improvements were visible up to five years following the counseling session.

Population(s) Served

For more than 20 years the NFCC has been a leader in the delivery of quality housing counseling and education services. NFCC member agencies provide all main types of housing services including pre-purchase, rental, home maintenance, reverse mortgage, and foreclosure prevention counseling.

The NFCC has also long served as an Intermediary for private and federal awards and contracts, and has been approved as a national US Department of Housing and Urban Development (HUD) Housing Intermediary for over 15 years. Since 2008, the NFCC has become one of the largest recipients of HUD funding for “traditional” comprehensive counseling which includes foreclosure prevention counseling and reverse mortgage counseling as well as National Foreclosure Mitigation Counseling (NFMC).

Population(s) Served
Economically disadvantaged people

NFCC student loan counseling services are available through our member agencies. With deep knowledge of the various student loan programs and, more importantly, the repayment options available under each, they will work with you to review your entire financial situation before guiding you toward the right program for your circumstances. NFCC counselors stay updated on the latest repayment plans, such as Saving on a Valuable Education (SAVE), as well as legislative restrictions imposed on student loan borrowers.

Specifically, student loan debt counseling will help you understand:

The pros and cons of the programs available to you.
Strategies to reduce the amount of interest paid over the life of the loan.
Steps to take to ensure timely repayment.
What you can do if you have trouble making your payments.
Options for keeping repayment affordable.
Loan rehabilitation programs.
Student loan debt consolidation choices.
How to identify potential options toward cancellation and forgiveness.

Population(s) Served

The National Foundation for Credit Counseling (NFCC) extends our financial counseling services to small business owners through specialized coaching. This segment of our offerings is designed to assist entrepreneurs and business owners in navigating the financial complexities of running a business. The NFCC provides guidance on managing business finances, planning for future financial stability, and devising strategies to manage and potentially reduce business debt. We aim to foster financial acumen among small business owners, ensuring they have the knowledge and tools to maintain financial stability, manage debts effectively, and ultimately, ensure the sustainability and growth of their business in a financially prudent manner.

Population(s) Served

Where we work

External assessments

Evaluated via the Impact Genome Project (2019)

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The National Foundation for Credit Counseling® (the NFCC®) is the nation's leading nonprofit membership organization dedicated to improving people's financial well-being. Serving as a trusted source of financial advice since 1951, NFCC certified financial counselors have empowered millions of consumers and small business owners to take control of their finances and their futures, while benefiting the national economy. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability. The NFCC and its members are dedicated to improving people's financial well-being, and work to provide a path to financial stability. Our work gradually, incrementally continues the U.S. economy's expansion by extending financial assistance to LMI households who have not reaped the benefits of increased GDP growth.

The NFCC is working to improve the financial health of LMI households with individualized counseling designed to reduce debt, improve financial literacy, and provide a path to financial stability. No matter their financial situation, no one is ever turned away. Our members assist individuals and families regardless of income or circumstances to ensure they never have to face their challenges alone. Nearly 1,600 NFCC Certified Credit Counselors nationwide are trained, certified and ready to complete a comprehensive financial review and action plan to help clients meet their financial goals -in person, over the phone, or online. We offer a variety of programs tailored to your financial needs including: debt management plans, small business owner counseling, home ownership counseling, and student loan counseling.

The NFCC is the nation's first and largest nonprofit dedicated to improving people's financial well being. We offer a community-based network with over 600 member offices serving all 50 states and Puerto Rico. Before they earn the right to display our seal, every nonprofit NFCC member agency is held to 18 rigorous NFCC quality standards to assure excellence. This ensures we remain a trusted source for sound financial advice. The NFCC also maintains relationships with financials institutions and creditors at a variety of levels to ensure customers are protected. We represent both consumer and NFCC member agency interests through our strong working relationships withe the Consumer Financial Protection Bureau, the Department of the Treasury, the Department of Education, and other congressional offices. This has led to the NFCC becoming a primary source for news and information on nonprofit financial counseling.

In 2016, the NFCC and its member agencies counseled 1.1 million clients who paid back $1.2 billion in debt. Our Sharpen Your Financial Focus® (SYFF) has been a remarkable success. For SYFF clients three months post-counseling, 68% felt SYFF helped them in setting financial goals, 67% are now better at managing their money, 70% have improved their overall financial confidence, and 73% now pay their debt more consistently. Six months post counseling, 9000 SYFF clients reported a $17,000 average decrease in total debt, an $8,000 average decrease in total revolving debt, and a 50-point average increase in their baseline credit score for the average bottom 25th percentile of clients.

We are currently in the process of expanding the SYFF program, providing more dedicated services for veterans, and for the Hispanic/Latino community. Additionally, we are continuing our dialogue with the Department of Education to enhance our counseling services for student loan borrowers.

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990


Average of 2.01 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990


Average of 5.8 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990


Average of 13% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

National Foundation for Credit Counseling, Inc.

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

National Foundation for Credit Counseling, Inc.

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

National Foundation for Credit Counseling, Inc.

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of National Foundation for Credit Counseling, Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$992,888 $400,162 $413,067 $918,531 -$791,008
As % of expenses -10.3% 4.8% 4.8% 9.9% -8.0%
Unrestricted surplus (deficit) after depreciation -$1,064,702 $316,796 $293,784 $791,582 -$933,057
As % of expenses -10.9% 3.8% 3.4% 8.4% -9.3%
Revenue composition info
Total revenue (unrestricted & restricted) $6,043,846 $9,771,544 $9,543,593 $8,760,104 $9,648,541
Total revenue, % change over prior year -52.5% 61.7% -2.3% -8.2% 10.1%
Program services revenue 52.7% 33.8% 34.6% 39.7% 37.1%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.1% 0.2% 0.0% 0.0% 0.0%
Government grants 6.4% 10.2% 17.0% 11.3% 27.6%
All other grants and contributions 40.7% 55.8% 48.4% 48.9% 35.3%
Other revenue 0.2% 0.1% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $9,669,107 $8,263,609 $8,544,893 $9,242,663 $9,842,356
Total expenses, % change over prior year -18.6% -14.5% 3.4% 8.2% 6.5%
Personnel 26.9% 34.9% 35.5% 34.3% 34.9%
Professional fees 7.9% 8.4% 7.8% 6.6% 5.8%
Occupancy 3.7% 4.4% 4.4% 3.3% 1.9%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 31.4% 25.5% 30.4% 29.9% 29.0%
All other expenses 30.0% 26.8% 21.9% 25.9% 28.5%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $9,740,921 $8,346,975 $8,664,176 $9,369,612 $9,984,405
One month of savings $805,759 $688,634 $712,074 $770,222 $820,196
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $122,359 $153,101 $453,912 $0
Total full costs (estimated) $10,546,680 $9,157,968 $9,529,351 $10,593,746 $10,804,601

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 3.9 2.8 7.5 8.5 6.2
Months of cash and investments 3.9 2.8 7.5 8.5 6.2
Months of estimated liquid unrestricted net assets 1.0 1.6 1.9 2.4 1.2
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $3,163,825 $1,924,840 $5,313,858 $6,572,266 $5,104,850
Investments $0 $0 $0 $0 $0
Receivables $1,463,229 $3,798,277 $1,499,345 $710,972 $1,968,837
Gross land, buildings, equipment (LBE) $1,337,324 $1,449,443 $1,091,862 $948,584 $910,476
Accumulated depreciation (as a % of LBE) 85.5% 84.0% 75.6% 37.5% 49.6%
Liabilities (as a % of assets) 27.2% 15.7% 17.8% 30.7% 43.2%
Unrestricted net assets $1,004,567 $1,321,363 $1,615,147 $2,406,729 $1,473,672
Temporarily restricted net assets $2,977,163 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $2,977,163 $4,084,936 $4,670,569 $3,269,479 $3,866,672
Total net assets $3,981,730 $5,406,299 $6,285,716 $5,676,208 $5,340,344

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No


The people, governance practices, and partners that make the organization tick.

Form 1023/1024 is not available for this organization


Mike Croxson

Mike Croxson is CEO of the National Foundation for Credit Counseling. Prior to joining the NFCC in 2022, he was President and CEO of Consumer Education Services, Inc.(CESI), an NFCC Member Agency. Additionally, Croxson served as COO of Bay Bank and has held leadership roles in the areas of commercial banking, specialty financial services and credit card processing.

Number of employees

Source: IRS Form 990

National Foundation for Credit Counseling, Inc.

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

National Foundation for Credit Counseling, Inc.

Highest paid employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

National Foundation for Credit Counseling, Inc.

Board of directors
as of 10/11/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Debbie Bianucci


Faisal Uddin


Gary Volmer

Advantage Credit Counseling Service

Joel Greenberg

Navicore Solutions

Gloria C. Banks


Duane Elmer

Goldman Sachs

Genger Charles

Consumer Finance Group

Sarah Goldfrank


Jay DesMarteau

Northwest Bank

Michael Grossberg

Wells Fargo

Chris Viale

Cambridge Credit Counseling

Jim Triggs

Money Management International

George Janus

Consumer Debt Counselors

Helene Raynaud


Sam Hohman

Credit Advisors Foundation

Mike Croxson


Organizational demographics

SOURCE: Self-reported; last updated 10/11/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.


The organization's leader identifies as:

Race & ethnicity
Gender identity
Male, Not transgender
Sexual orientation
Heterosexual or Straight

Race & ethnicity

No data

Gender identity

No data

Transgender Identity

No data

Sexual orientation

No data


No data


Fiscal year ending
There are no fundraisers recorded for this organization.