2024-04-05T09:28:26-05:00 2023-12-31 161131146 BONADIO & CO LLP 100 CORPORATE PARKWAY SUITE 200 AMHERST NY 14226 990 2023-01-01 160909583 PARACHUTE CREDIT COUNSELING INC PARA 7167122060 40 GARDENVILLE PARKWAY 300 WEST SENECA NY 14224 NOELLE CARTER PRESIDENT & CHIEF EXECUTIVE OFFICER 7167122060 2024-04-04 1 NOELLE CARTER 999009999 1 JUSTIN N REID P01321869 7162506600 2024-04-04 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z NOELLE CARTER 40 GARDENVILLE PARKWAY 300 WEST SENECA NY 14224 1656143 0 X PARACHUTECREDITCOUNSELING.ORG X 1965 NY THE ORGANIZATION'S MISSION IS TO PROVIDE THE COMMUNITY WITH THE BEST STRATEGIES TO MASTER THEIR CREDIT. 10 10 19 15 0 0 480424 540582 1213530 1111471 0 0 4463 4090 1698417 1656143 0 0 0 0 1074511 1077624 0 0 0 623583 627137 1698094 1704761 323 -48618 1575678 1339233 423811 183086 1151867 1156147 X THE ORGANIZATION'S MISSION IS TO PROVIDE THE COMMUNITY WITH THE BEST STRATEGIES TO MASTER THEIR CREDIT. 0 0 1144447 1021498 CREDIT COUNSELING: PARACHUTE IS PROUD TO BE THE ONLY LOCAL, NON PROFIT, CREDIT COUNSELING AGENCY IN WESTERN NEW YORK. HOWEVER, THE CREDIT COUNSELING AND DEBT MANAGEMENT INDUSTRY DOES NOT LIMIT OTHER AGENCIES FROM SERVICING OUR WESTERN NEW YORK COMMUNITY AS WELL. AS A RESULT, OUR AGENCY HAS BEEN WORKING DILIGENTLY TO EDUCATE CLIENTS ON THE DIFFERENCE BETWEEN OUR LOCAL, QUALITY SERVICES AND THE "1-800 COMPANIES" THAT MOST OFTEN TAKE ADVANTAGE OF CLIENTS AS OPPOSED TO EDUCATING THEM ON SOUND FINANCIAL RESPONSIBILITY AND CREATING FINANCIAL FREEDOMS. WE LIKE TO SAY THAT KNOWING THE DIFFERENCE BETWEEN "US AND THEM" CAN MAKE ALL THE DIFFERENCE IN A CLIENT'S DEBT REDUCTION OUTCOME. CLIENTS CAN PARTICIPATE IN A CONFIDENTIAL INTERVIEW WITH A FINANCIAL COUNSELOR TO DISCUSS, ANALYZE AND EXPLORE OPTIONS REGARDING UNSECURED DEBT. THE COUNSELOR WILL CREATE A BUDGET ANALYSIS THAT EXAMINES THE CLIENT'S FINANCIAL SITUATION AND OFFER HELPFUL SUGGESTIONS TO ACHIEVE THEIR FINANCIAL GOALS. IF A CREDITOR REPAYMENT PLAN IS SUITABLE FOR THE CLIENT, PARACHUTE WILL WORK TO ENSURE THE CLIENT MEETS THEIR MONTHLY HOUSEHOLD AND CREDITORS EXPENSES FOR AN EXTENDED TERM. CRP PARTICIPANTS MAY SEE LOWER MONTHLY PAYMENTS AND/OR REDUCED INTEREST RATES AND FEES. 1,979 CLIENTS SERVED. 238835 44334 THE HOUSING PROGRAMMING PROVIDED BY PARACHUTE OFFERS FOUR MAIN AREAS OF SERVICE. THE FIRST FOCUSES ON NFMCP FUNDING APPLIED FOR AND GRANTED THROUGH THE FEDERAL GOVERNMENT. CLIENTS RECEIVING NFMCP COUNSELING ARE ASSISTED IN AVOIDING FORECLOSURE THROUGH COMMUNICATION WITH THE LENDERS AND LEANER BUDGET RECOMMENDATIONS. THE SECOND TYPE OF HOUSING COUNSELING IS COMPREHENSIVE COUNSELING WHERE CLIENTS THAT ARE FACING MORTGAGE DELINQUENCY CAN HAVE THEIR BUDGET ASSESSED AND ACTION PLANS CREATED TO OVERCOME THE HOUSING CHALLENGE. THOROUGH FOLLOW-UP TAKES PLACE AFTER THE SESSION IN ORDER TO ENSURE CLIENTS ARE PROGRESSING POSITIVELY. THE THIRD TYPE OF HOUSING SERVICE PERFORMED IS HECM OR "REVERSE MORTGAGE". PARACHUTE PROVIDES THE REQUIRED CERTIFICATE AFTER A CLIENT HAS PARTICIPATED IN A SESSION TO REVIEW THE OVERALL PRACTICES OF A HECM AND POSSIBLE REPERCUSSIONS. THE LAST AREA OF HOUSING SERVICE PERFORMED IS CALLED PRE-PURCHASE EDUCATION CLASSES. PARACHUTE OFFERS A CLASS CALLED MAKE YOUR MOVE FOR FIRST TIME HOMEBUYERS THAT PROVIDES GENERAL EDUCATION REGARDING THE SEARCH, PURCHASE AND UPKEEP OF A HOME. ALL PARACHUTE HOUSING COUNSELORS ARE CERTIFIED THROUGH THE NFCC AND HAVE TAKEN SEVERAL HUD APPROVED COURSES TO STAY ATOP OF INDUSTRY CHANGES OVER THE YEARS. PARACHUTE HAS BEEN A HUD APPROVED HOUSING COUNSELING AGENCY SINCE 2003. 154 CLIENTS SERVED. 158541 39609 CREDIT EDUCATION: PARACHUTE PRIDES ITSELF ON STRENGTHENING THE KNOWLEDGE OF OUR CLIENTS FINANCIAL LITERACY SKILLS. NATIONAL AND LOCAL STATISTICS HAVE REVEALED THAT NOW MORE THAN EVER IS THE TIME TO ASSIST AND ENCOURAGE RESPONSIBLE FINANCIAL HABITS WITHIN OUR COMMUNITIES. IN 2023, PARACHUTE WAS PROUD TO PARTNER WITH 36 COMMUNITY AGENCIES, AND SERVICED 3,034 CLIENTS THROUGH OVERALL FINANCIAL OUTREACH PROGRAMMING. PRE AND POST TEST SCORES FROM EDUCATION PROGRAMMING INCREASED BY AN AVERAGE OF 25.1% AFTER COMPLETION OF OUR CLASSES. IT IS OUR HONOR TO BE THE LEADING SERVICER OF FINANCIAL LITERACY IN OUR GREAT COMMUNITY. 32588 6030 BANKRUPTCY EDUCATION: PARACHUTE IS PROUD TO BE ONE OF THE FEW AGENCIES HEADQUARTERED IN WESTERN NEW YORK APPROVED TO ISSUE CERTIFICATES IN COMPLIANCE WITH THE BANKRUPTCY LAW. WE PROVIDE LOCAL, ONE-ON-ONE CREDIT COUNSELING SESSIONS BEFORE YOU FILE, AS WELL AS GROUP CLASSES FOR THE DEBTOR EDUCATION COURSE TAKEN PRIOR TO THE DISCHARGE OF DEBTS. BY OFFERING FLEXIBLE APPOINTMENT TIMES, IN-PERSON, OVER THE TELEPHONE OR ONLINE AT THE CLIENT'S CONVENIENCE, WE CAN AID EVEN THOSE WITH THE BUSIEST OF SCHEDULES. ALL BANKRUPTCY PETITIONERS RECEIVE A COURT-REQUIRED CERTIFICATE OF COUNSELING UPON COMPLETION OF THE COUNSELING OR EDUCATION COURSE.152 CLIENTS SERVED. 32588 6030 1574411 1 1 0 0 0 0 0 0 1 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 19 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X NOELLE CARTER PRESIDENT & CEO 7167122060 40 GARDENVILLE PARKWAY WEST SENECA NY 14224 NANCY L LATULIP BOARD CHAIRMAN 1.00 X X 0 0 0 ANTHONY F GUTOWSKI TREASURER 1.00 X X 0 0 0 JOSEPH M MORRISON VICE CHAIR 1.00 X X 0 0 0 BONNIE KELL SECRETARY 1.00 X X 0 0 0 MARYLOU BOROWIAK DIRECTOR 1.00 X 0 0 0 CATHERINE M ROBERTS DIRECTOR 1.00 X 0 0 0 DEANNA EASON DIRECTOR 1.00 X 0 0 0 STEVEN DOLAN DIRECTOR 1.00 X 0 0 0 RAMON MORALES DIRECTOR 1.00 X 0 0 0 KATHRYN LEWIS DIRECTOR 1.00 X 0 0 0 NOELLE CARTER PRESIDENT/CEO 40.00 X 118569 0 4500 118569 0 4500 1 0 0 0 0 64064 476518 540582 CREDITOR PROCESSING FE 522100 603640 603640 FAIR SHARE REVENUE 522100 417333 417333 EDUCATIONAL PROGRAMS 611710 89973 89973 APPOINTMENT FEES 522100 525 525 1111471 OTHER REVENUE 900099 4090 4090 4090 1656143 1111471 0 4090 118569 109083 9486 793899 730388 63511 17488 16089 1399 80781 74318 6463 66887 61536 5351 1010 929 81 17436 16041 1395 141337 130030 11307 75400 75400 36084 33197 2887 8388 7717 671 142145 130773 11372 9874 9084 790 5749 5289 460 22098 20330 1768 REFERRAL FEES 87125 80155 6970 DUES 44888 41297 3591 EQUIPMENT LEASES AND MA 35603 32755 2848 1704761 1574411 130350 0 121173 63836 912771 855191 19300 16700 7545 4247 31467 36126 200778 181913 24614 18865 265198 270086 193610 74182 1575678 1339233 136429 107523 90000 4164 1486 193218 74077 423811 183086 X 1151867 1156147 1151867 1156147 1575678 1339233 -48618 52898 0 X X 0 1 X 1 0 X 317721 339809 363395 478835 476035 1975795 1374512 1514309 1444153 1213530 1161835 6708339 1692233 1854118 1807548 1692365 1637870 8684134 0 0 0 8684134 4106 6811 725 11642 4106 6811 725 11642 7890 6116 5790 6227 5098 31121 1704229 1867045 1814063 1698592 1642968 8726897 0.99510 0.99460 0.00130 0.00170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 40864 27207 13657 147384 142176 5208 12530 12530 0 18865 TARGET DATE FUND 33019 F STOCKS, OPTIONS & EFT'S 234288 F CASH 2779 F 270086 OPERATING LEASE RIGHT OF USE ASSETS 74182 74182 OPERATING LEASE LIABILITY - CURRENT PORTION 69901 OPERATING LEASE LIABILITY - LONG-TERM PORTION 4176 74077 1709041 52898 52898 1656143 0 1656143 1704761 0 1704761 0 1704761 PART IV, LINE 2B: THE ORGANIZATION ACTS AS A NEGOTIATOR OF DEBT REPAYMENT PLANS FOR ITS CLIENTS, AND ALSO REMITS PAYMENT TO CREDITORS ON THEIR BEHALF. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY PRESENT IN THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF FORM 990 IS SENT TO THE BOARD FOR REVIEW PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY REGULARLY DURING COMMITTEE MEETINGS AND QUARTERLY MEETINGS. FORM 990, PART VI, SECTION B, LINE 15 NATIONAL AND LOCAL SALARY SURVEYS ARE USED EACH YEAR TO ESTABLISH INCOME GUIDELINES TO HELP IN DETERMINING COMPENSATION. THE ORGANIZATION ALSO UTILIZES PERFORMANCE APPRAISALS IN CONJUNCTION WITH AN EXTERNAL HR CONSULTANT FOR AN UNBIASED OPINION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.