2024-11-08T09:00:46-06:00 2023-12-31 264022510 HARRIS & CO PLLC 1120 S RACKHAM WAY STE 100 MERIDIAN ID 83642 990 2023-01-01 820491267 DEBT REDUCTION SERVICES INC DEBT 2083780200 6213 N CLOVERDALE RD STE 130 BOISE ID 83713 CARA STEELE PRESIDENT 2083780200 2024-11-06 1 1 MARGARET FLOWERS P00748716 2083338965 2024-11-06 2023 2024-10-15 13:58:12Z CARA STEELE 6213 N CLOVERDALE RD STE 100 BOISE ID 83713 2344933 0 X WWW.DEBTREDUCTIONSERVICES.ORG X 1996 ID OUR MISSION IS TO PROMOTE FINANCIAL RESPONSIBILITY IN OUR CLIENTS AND COMMUNITY MEMBERS NATIONWIDE. WE ACCOMPLISH THIS THROUGH EDUCATIONAL PROGRAMS, COUNSELING, AND PERSONALIZED SERVICES. WE THUS EMPOWER INDIVIDUALS TO DEVELOP AND USE POSITIVE BUDGETING SKILLS AND EFFECTIVE SPENDING BEHAVIORS, TO USE CREDIT WISELY, AND TO PREVENT, MANAGE, AND ELIMINATE CONSUMER DEBT. 7 7 36 0 0 0 267000 252900 2326429 2092033 0 0 0 0 2593429 2344933 1000 1000 0 0 1841754 1993657 0 0 0 1095479 790530 2938233 2785187 -344804 -440254 2036838 1129668 1516478 1049562 520360 80106 X OUR MISSION IS TO PROMOTE FINANCIAL RESPONSIBILITY IN OUR CLIENTS AND COMMUNITY MEMBERS NATIONWIDE. WE ACCOMPLISH THIS THROUGH EDUCATIONAL PROGRAMS, COUNSELING, AND PERSONALIZED SERVICES. WE THUS EMPOWER INDIVIDUALS TO DEVELOP AND USE POSITIVE BUDGETING SKILLS AND EFFECTIVE SPENDING BEHAVIORS, TO USE CREDIT WISELY, AND TO PREVENT, MANAGE, AND ELIMINATE CONSUMER DEBT. 0 0 2318117 1000 2092033 EDUCATIONAL ACCOMPLISHMENTSCONTINUING TO GROW OUR VIRTUAL EDUCATION PROGRAMS, DRS ACHIEVED PARTICULAR PROGRESS WITH OUR FLAGSHIP EDUCATIONAL OFFERINGS. WE PROMOTE FINANCIAL LITERACY AND HEALTHY PERSONAL FINANCE BEHAVIOR THROUGH ONLINE VIDEOS AVAILABLE 24/7 AS WELL AS LIVE VIRTUAL CLASSES AND WEBINARS (PRE-RECORDED OR SELF-PACED) THAT ANYONE CAN ACCESS FROM ANYWHERE AT ANY TIME. OUR TOP THREE ACCOMPLISHMENTS IN FINANCIAL EDUCATION FOR 2023 INCLUDED: 1) THE CONTINUED POPULARITY OF OUR AWARD-WINNING MY LIFE MY CHOICES STUDENT EDITION COURSE, WITH 1,547 ONLINE PARTICIPANTS, AND ITS SISTER PROGRAMS FOR CORRECTIONS AND MILITARY, 2) THE CONTINUED AVAILABILITY AND ACCESS OF OUR FREE AND EDUCATIONAL MONEY FIT LIVE WEBINARS, WHICH GARNERED 6,200 TOTAL VIEWS WITH 361 HOURS OF WATCH TIME, AND 3) THE CONTINUED SUCCESS OF OUR TEEN BUDGET CALCULATOR, WHICH HAD 566 COMPLETIONS.= = = = = = = =SCHEDULE O= = = = = = = =IN 2023, DEBT REDUCTION SERVICES UTILIZED ITS RESOURCES TO EXPAND AND SUPPORT A RANGE OF SIGNIFICANT FINANCIAL EDUCATION PROGRAMS AND SERVICES.HOUSING COUNSELING IN 2023, WE EXPANDED OUR HOUSING COUNSELING SERVICES NATIONWIDE TO INCLUDE HOMELESS AND RENTAL COUNSELING, PARTICULARLY THROUGH A HOME ARP GRANT FOR IDAHO'S BALANCE OF STATE. ADDITIONALLY, WE BROADENED OUR SERVICES TO OFFER HOMEBUYER COUNSELING, FAIR HOUSING EDUCATION AND COUNSELING, AND HECM REVERSE MORTGAGE COUNSELING. THIS YEAR, WE LAUNCHED OUR HUD-APPROVED HOMEBUYER EDUCATION COURSE, HELPING FIRST-TIME HOMEBUYERS QUALIFY FOR DOWN PAYMENT ASSISTANCE PROGRAMS.IDAHO REGIONAL HOUSING COALITIONS - DRS CONTINUED ITS VIRTUAL PARTICIPATION IN THE IDAHO REGION III COALITION, COORDINATING EFFORTS TO PREVENT AND ADDRESS HOMELESSNESS IN SOUTHWEST IDAHO. WE ALSO INCREASED OUR INVOLVEMENT WITH THE REGION V COALITION.MY LIFE MY CHOICES MILITARY TRANSITION EDITION IN 2023, 37 INDIVIDUALS COMPLETED THIS FREE, ONLINE BUDGETING ACTIVITY, WHICH HELPS ACTIVE MILITARY PERSONNEL TRANSITIONING TO CIVILIAN LIFE UNDERSTAND THE FINANCIAL CONSEQUENCES OF THEIR PERSONAL CHOICES.LIFE AFTER DEBT WEBINAR IN 2023, 41 PARTICIPANTS COMPLETED THIS SELF-PACED COURSE, WHICH WALKS THEM THROUGH KEY STEPS TO STAYING OUT OF DEBT AND PROMOTING LONG-TERM FINANCIAL STABILITY.WHO WANTS TO LIVE LIKE A MILLIONAIRE?: THIS INTERACTIVE WEBINAR, WHICH HELPS PARTICIPANTS DEBUNK MYTHS OF WEALTH AND HYPER-CONSUMERISM, SAW 75 COMPLETIONS IN 2023.JUMP$TART COALITION STATE MEMBERSHIPS THE ORGANIZATION'S EDUCATION MANAGER REMAINED ACTIVELY INVOLVED IN THE IDAHO FINANCIAL LITERACY COALITION, PART OF THE NATIONAL JUMP$TART COALITION, PARTICIPATING IN REGULAR MEETINGS. THE COALITION WORKS TO COORDINATE EVENTS TO PROMOTE FINANCIAL LITERACY AMONG YOUTH AND AT-RISK POPULATIONS.COALITIONS AND ASSOCIATIONS - IN 2023, WE FACILITATED LIVE WEBINARS FOR A VARIETY OF ORGANIZATIONS, INCLUDING A BUSINESS ASSOCIATION, A LAW FIRM, A CHARITABLE FOUNDATION, AND A FASHION BUSINESS. ADDITIONALLY, OUR FINANCIAL EDUCATION MANAGER CONNECTED WITH HOUSING AUTHORITIES ACROSS THE COUNTRY, SECURING THREE MEMORANDA OF UNDERSTANDING (MOUS) TO PROVIDE HOUSING COUNSELING AND EDUCATION SERVICES.OUR FINANCIAL EDUCATION MANAGER APPEARED ON MULTIPLE PODCASTS, PROMOTING FINANCIAL LITERACY AND CAPACITY BUILDING. THROUGHOUT 2023, WE FACILITATED 10 LIVE VIDEO SESSIONS FOR 166 INDIVIDUALS, REACHING A BROAD AUDIENCE WITH PRACTICAL FINANCIAL EDUCATION.THE ORGANIZATION REMAINS APPROVED BY THE EXECUTIVE OFFICE OF THE U.S. TRUSTEE WITHIN THE U.S. DEPARTMENT OF JUSTICE TO OFFER BOTH PRE-BANKRUPTCY CREDIT COUNSELING BRIEFINGS AND POST-BANKRUPTCY PERSONAL FINANCIAL MANAGEMENT COURSES, AS MANDATED BY THE BANKRUPTCY ABUSE PREVENTION AND CONSUMER PROTECTION ACT OF 2005. THESE SERVICES ARE PROVIDED ONLINE, ALLOWING CLIENTS TO ACCESS PRE-BANKRUPTCY COUNSELING AND POST-BANKRUPTCY EDUCATION COURSES CONVENIENTLY VIA THE INTERNET. 2318117 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 36 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 OK OR CA NY X THE ORGANIZATION 2083780200 6213 N CLOVERDALE RD STE 100 BOISE ID 83713 CARA STEELE PRESIDENT 50.00 X X 153753 0 9623 RANDY SIDDOWAY DIRECTOR 0.00 X 0 0 0 DANIEL BURGETT DIRECTOR 0.00 X 0 0 0 ANDREA SORENSEN DIRECTOR 0.00 X 0 0 0 LYLE COOK DIRECTOR 0.00 X 0 0 0 CHRISTINA MAI DIRECTOR 0.00 X 0 0 0 DARRIN JASZKOWIAK DIRECTOR 0.00 X 0 0 0 SUE QUINT DIRECTOR 0.00 X 0 0 0 JOSEPH T CESTARO CEO 55.00 X X 289480 0 9760 MARK L RIZKOWSKY CHIEF COMPLIANCE OFFICER 50.00 X 172550 0 10837 RICHARD J MUNSTER SECRETARY 40.00 X 102174 0 9159 717957 0 39379 4 0 1 0 0 252900 252900 FINANCIAL EDUCATION 611710 2091953 2091953 OTHER INCOME 611710 80 80 2092033 2344933 2092033 0 0 1000 1000 717336 525422 191914 1070559 891603 178956 76073 74150 1923 129689 103751 25938 350 280 70 1194 1194 15046 15046 2872 1439 1433 67148 67148 172552 159536 13016 155927 144232 11695 9411 8705 706 13336 13336 21791 12257 9534 70577 65284 5293 REPAIRS AND MAINTENANCE 86638 80140 6498 PUBLIC AWARENESS AND OU 83582 83582 LICENSES 41808 38672 3136 TRAINING MATERIALS 38213 35347 2866 10085 9329 756 2785187 2318117 467070 0 1526678 779489 13814 13814 195925 120944 96772 74981 399574 261384 2036838 1129668 120426 20224 175000 284927 252827 500000 500000 436125 276511 1516478 1049562 X 0 0 0 0 520360 80106 520360 80106 2036838 1129668 -440254 0 X X 0 1 X 1 0 X 314162 317555 306904 267000 252900 1458521 3605149 3327122 3198031 2326429 2081953 14538684 3919311 3644677 3504935 2593429 2334853 15997205 0 0 0 15997205 3919311 3644677 3504935 2593429 2334853 15997205 1.00000 1.00000 0.00000 X 0 1 X 151963 120944 31019 43962 43962 74981 OPERATING LEASE RIGHT-OF-USE ASSETS 261384 261384 OPERATING LEASE LIABILITIES 276511 276511 2331597 0 2331597 13336 13336 2344933 2771851 0 2771851 13336 13336 2785187 PART IV, LINE 2B: THE ORGANIZATION RECEIVES FUNDS FROM DEBTORS AND HOLDS THE FUNDS IN TRUST UNTIL THEY ARE REMITTED TO THE DEBTOR'S CREDITORS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE NETTED FROM REVENUE 13,336. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE NETTED FROM REVENUE 13,336. 0 0 0 0 0 0 0 0 0 JOSEPH T CESTARO CEO 289480 0 0 0 0 0 0 0 9760 0 299240 0 0 0 MARK L RIZKOWSKY CHIEF COMPLIANCE OFFICER 172550 0 0 0 0 0 0 0 10837 0 183387 0 0 0 CARA STEELE PRESIDENT 153753 0 0 0 0 0 0 0 9623 0 163376 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS OF INTEREST POLICY - THE DIRECTOR OF HUMAN RESOURCES INQUIRES OF APPLICABLE INDIVIDUALS AS TO THEIR COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICIES ON A REGULAR BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL - THE BOARD OF DIRECTORS APPOINT A COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE REVIEWED FORMS 990 FROM COMPARABLE ORGANIZATIONS AND USED ECONOMIC RESEARCH INSTITUTE DATA TO MAKE A RECOMMENDATION TO THE FULL BOARD WHO THEN APPROVED THE RECOMMENDATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION - THE ORGANIZATION KEEPS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AT ITS CORPORATE OFFICE AND MAKES THEM AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE INDEPENDENT ACCOUNTANTS HAS NOT CHANGED FROM THE PRIOR YEAR.