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Parachute Credit Counseling Inc

EIN 16-0909583 · West Seneca, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood82 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE ORGANIZATION'S MISSION IS TO PROVIDE THE COMMUNITY WITH THE BEST STRATEGIES TO MASTER THEIR CREDIT.

Income
$1.7 million
Spending
$1.8 million
Spent on programs
93%
Reserves
6.8 months of spending
Largest source of income
fees for its services, 70%
Employees
21
Volunteers
11
Highest pay
$140,216, president & ceo

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 82 out of 100. Higher than 64% of charities in its peer group (human services, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 6.8 months of spending.

  • Debt

    16 of 20

    It owes 24% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 4% of income.

  • Income trend

    15 of 15

    Income rose 1% on the year before.

  • Spending floor

    15 of 15

    93% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 65% of charities in its peer group (human services, $1m to $10m).

  • Independent board

    25 of 25

    10 of 10 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $1.1 million spent. CREDIT COUNSELING: PARACHUTE CREDIT COUNSELING OFFERS COMPREHENSIVE DEBT MANAGEMENT SOLUTIONS. WHILE THE CREDIT COUNSELING AND DEBT MANAGEMENT INDUSTRY INCLUDES VARIOUS PROVIDERS, PARACHUTE DISTINGUISHES ITSELF BY PRIORITIZING CLIENT EDUCATION AND LONG-TERM FINANCIAL WELL-BEING. WE BELIEVE IN EMPOWERING INDIVIDUALS WITH THE KNOWLEDGE AND TOOLS THEY NEED TO ACHIEVE FINANCIAL FREEDOM, RATHER THAN SIMPLY OFFERING QUICK FIXES. OUR SERVICES: CONFIDENTIAL FINANCIAL COUNSELING: CLIENTS CAN SCHEDULE A CONFIDENTIAL CONSULTATION WITH A CERTIFIED FINANCIAL COUNSELOR TO DISCUSS THEIR UNIQUE FINANCIAL SITUATION. PERSONALIZED BUDGET ANALYSIS: OUR COUNSELORS CONDUCT THOROUGH BUDGET ANALYSES TO IDENTIFY AREAS FOR IMPROVEMENT AND DEVELOP CUSTOMIZED FINANCIAL PLANS. DEBT MANAGEMENT PLANS (DMPS): FOR ELIGIBLE CLIENTS, WE OFFER DMPS THAT MAY INCLUDE: REDUCED MONTHLY PAYMENTS: LOWERING OVERALL MONTHLY DEBT OBLIGATIONS. REDUCED INTEREST RATES AND FEES: NEGOTIATING LOWER INTEREST RATES AND ELIMINATING OR REDUCING FEES CHARGED BY CREDITORS. PARACHUTE IS COMMITTED TO PROVIDING HIGH-QUALITY, CLIENT-CENTERED SERVICES THAT EMPOWER INDIVIDUALS TO ACHIEVE LONG-TERM FINANCIAL STABILITY. 3,676 CLIENTS SERVED.
  2. $247,828 spent. THE HOUSING PROGRAMMING PARACHUTE CREDIT COUNSELING OFFERS A RANGE OF HOUSING SERVICES, PRIMARILY FOCUSED ON: 1. FORECLOSURE PREVENTION: THIS SERVICE, FUNDED BY FEDERAL AND STATE GRANTS, ASSISTS HOMEOWNERS FACING MORTGAGE DELINQUENCY. PARACHUTE COUNSELORS WORK CLOSELY WITH LENDERS TO EXPLORE OPTIONS FOR CURING THE DELINQUENCY. 2. REVERSE MORTGAGE (HECM) COUNSELING: PARACHUTE PROVIDES MANDATORY COUNSELING SESSIONS FOR INDIVIDUALS CONSIDERING A REVERSE MORTGAGE. THESE SESSIONS EDUCATE CLIENTS ON THE INTRICACIES OF HECM LOANS, INCLUDING POTENTIAL RISKS AND BENEFITS, AND ARE REQUIRED TO OBTAIN A CERTIFICATE OF COMPLETION.3. HOMEBUYER EDUCATION: PARACHUTE OFFERS PRE-PURCHASE EDUCATION FOR FIRST-TIME HOMEBUYERS. THESE SESSIONS COVER ESSENTIAL TOPICS SUCH AS THE HOME-BUYING PROCESS, FINANCING OPTIONS, AND HOME MAINTENANCE. ALL PARACHUTE HOUSING COUNSELORS ARE HUD-CERTIFIED, AND PARACHUTE HAS BEEN A HUD-APPROVED HOUSING COUNSELING AGENCY SINCE 2003. 179 CLIENTS SERVED.
  3. $252,545 spent. CREDIT EDUCATION: PARACHUTE IS COMMITTED TO EMPOWERING INDIVIDUALS WITH STRONG FINANCIAL LITERACY SKILLS. RECOGNIZING THE CRITICAL NEED FOR FINANCIAL EDUCATION IN TODAY'S COMPLEX WORLD, PARACHUTE ACTIVELY PROMOTES RESPONSIBLE FINANCIAL HABITS WITHIN OUR COMMUNITY. IN 2025, PARACHUTE PARTNERED WITH 184 COMMUNITY AGENCIES AND SERVED 1,972 CLIENTS THROUGH A RANGE OF FINANCIAL OUTREACH PROGRAMS. NOTABLY, PRE- AND POST-TEST SCORES FROM OUR EDUCATIONAL PROGRAMS DEMONSTRATED AN AVERAGE IMPROVEMENT OF 18.7% IN CLIENT KNOWLEDGE. WE ARE HONORED TO BE A LEADING PROVIDER OF FINANCIAL LITERACY EDUCATION IN OUR COMMUNITY.
  4. $32,195 spent. BANKRUPTCY EDUCATION: PARACHUTE IS AN APPROVED AGENCY AUTHORIZED TO ISSUE CERTIFICATES OF COMPLIANCE WITH THE BANKRUPTCY LAW. WE PROVIDE COMPREHENSIVE BANKRUPTCY COUNSELING SERVICES, INCLUDING: PRE-FILING CREDIT COUNSELING: INDIVIDUALIZED COUNSELING SESSIONS TO HELP CLIENTS UNDERSTAND THEIR OPTIONS AND MAKE INFORMED DECISIONS BEFORE FILING FOR BANKRUPTCY. DEBTOR EDUCATION COURSES: COURT-MANDATED COUNSELING THAT PROVIDES ESSENTIAL FINANCIAL EDUCATION AND PREPARE CLIENTS FOR A SUCCESSFUL FINANCIAL FUTURE AFTER BANKRUPTCY. UPON SUCCESSFUL COMPLETION OF THE REQUIRED COUNSELING OR EDUCATION COURSE, ALL BANKRUPTCY PETITIONERS WILL RECEIVE THE NECESSARY CERTIFICATE OF COUNSELING. 240 CLIENTS SERVED.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since January 1967.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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