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Debt Reduction Services Inc

EIN 82-0491267 · Boise, ID

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

LegitimacyPassesRegistration and standingFinancial healthWeak35 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$2.3 million
Spending
$2.4 million
Spent on programs
83%
Reserves
-0.1 months of spending
Largest source of income
fees for its services, 89%
Employees
26
Volunteers
8
Highest pay
$13,629, president and ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 35 out of 100. Higher than 5% of charities in its peer group (human services, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    2 of 20

    It owes 96% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 2% of income.

  • Income trend

    10 of 15

    Income fell 1% on the year before.

  • Spending floor

    15 of 15

    83% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, 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

    7 of 7 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, 2024, 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 (1)
  1. $2.0 million spent. EDUCATIONAL ACCOMPLISHMENTSDEBT REDUCTION SERVICES, INC. CONTINUED TO STRENGTHEN ITS NATIONAL FINANCIAL EDUCATION PROGRAMS IN 2024. THROUGH VIRTUAL, IN-PERSON, AND SELF-PACED DELIVERY, OUR NONPROFIT PROMOTED FINANCIAL LITERACY, BUDGETING, CREDIT MANAGEMENT, AND HOMEOWNERSHIP READINESS FOR INDIVIDUALS AND FAMILIES ACROSS THE UNITED STATES. IN 1,650 SESSIONS, 2,497 PARTICIPANTS COMPLETED AN EDUCATIONAL ACTIVITY OR COURSE, WHILE 552 ADDITIONAL INDIVIDUALS RECEIVED PERSONALIZED FINANCIAL COACHING AND RESOURCE GUIDANCE THROUGH SHORT EDUCATIONAL CALLS. SIGNATURE PROGRAMS INCLUDED MY LIFE MY CHOICES (STUDENT AND CORRECTIONS EDITIONS), WHO WANTS TO LIVE LIKE A MILLIONAIRE?, AND FINANCIAL ESSENTIALS: RENTER AND HOMEOWNERSHIP PREP AND SAVINGS SUCCESS. CONTINUOUSLY EXPANDING EDUCATIONAL PARTNERSHIPS INCLUDED A FOUR-PART VIRTUAL WORKSHOP SERIES WITH A VIRGINIA NONPROFIT (REACHING 300 PARTICIPANTS) AND A NATIONAL OUTREACH EVENT FOR 90 HIGH SCHOOL STUDENT-ATHLETES. EARLY FINANCIAL EDUCATION REMAINED A PRIORITY, WITH 190 SECOND-GRADE STUDENTS PARTICIPATING IN OUR VIRTUAL BERENSTAIN BEARS "TROUBLE WITH MONEY" READING AND ACTIVITY IN PARTNERSHIP WITH IDAHO SAVES 529 COLLEGE SAVINGS. THROUGH THESE AND OTHER EFFORTS, DRS CONTINUED TO MAKE PRACTICAL FINANCIAL EDUCATION ACCESSIBLE NATIONWIDE.IN 2024, DEBT REDUCTION SERVICES UTILIZED ITS RESOURCES TO EXPAND AND SUPPORT A RANGE OF SIGNIFICANT FINANCIAL EDUCATION PROGRAMS AND SERVICES.HOUSING COUNSELINGIN 2024, WE CONTINUED TO ASSIST HOMELESS FAMILIES AND INDIVIDUALS AND THOSE AT RISK OF BECOMING SO BY USING OUR PARTNERSHIP WITH IDAHO HOUSING AND FINANCE TO USE HOME ARP FUNDS TO KEEP 274 HOUSEHOLDS HOUSED ACROSS IDAHO. GRANT FOR IDAHO'S BALANCE OF STATE. WE ADDITIONALLY OFFERED OUR HOUSING COUNSELING SERVICES TO MORE THAN 100 OTHER CONSUMERS (RENTERS AND HOMEOWNERS) THROUGH HOMEBUYER COUNSELING, FAIR HOUSING EDUCATION AND COUNSELING, AND HECM REVERSE MORTGAGE COUNSELING. WE ALSO SAW OUR REVERSE MORTGAGE COUNSELING SESSIONS FROM 18 IN 2023 TO OVER 70 IN 2024.FINANCIAL EDUCATION AND OUTREACHTHE ORGANIZATION'S FINANCIAL EDUCATION TEAM FACILITATED 1,650 SESSIONS IN 2024, SERVING 2,497 PARTICIPANTS THROUGH COURSES, WORKSHOPS, AND WEBINARS. TOPICS INCLUDED BUDGETING, CREDIT IMPROVEMENT, DEBT REDUCTION, SAVING STRATEGIES, AND RESPONSIBLE SPENDING. AN ADDITIONAL 552 INDIVIDUALS RECEIVED BRIEF EDUCATIONAL CONSULTATIONS BY TELEPHONE, FOCUSING ON BUDGET PLANNING, CREDIT BUILDING, DEBT MANAGEMENT, AND FINANCIAL GOAL SETTING, EACH CONVERSATION REINFORCED WITH REFERRALS TO TRUSTED EDUCATIONAL RESOURCES. AMONG OUR MOST POPULAR AND IMPACTFUL COURSES IN 2024 WERE:- MY LIFE MY CHOICES STUDENT EDITION, COMPLETED BY 1,183 STUDENTS NATIONWIDE (MOSTLY MIDDLE AND HIGH SCHOOL STUDENTS BUT ALSO COLLEGE STUDENTS)- WHO WANTS TO LIVE LIKE A MILLIONAIRE?, PROMOTING MINDFUL SPENDING (122 COMPLETIONS)- SAVINGS SUCCESS, A COURSE ON BUILDING CONSISTENT SAVINGS HABITS (42 COMPLETIONS)- FINANCIAL ESSENTIALS: RENTER AND HOMEOWNERSHIP PREP (21 COMPLETIONS)- CREDIT VOYAGE AND A CREDIT TO YOU: CREDIT BASICS (90 COMPLETIONS)- TEEN BUDGET ACTIVITY (476 COMPLETIONS) AND VACATION BUDGET ACTIVITY (141 COMPLETIONS)AS EXAMPLES OF OUR WORK, WE OFFERED A VIRTUAL BUDGET PRESENTATION FOR 90 HIGH SCHOOL STUDENT-RODEO ATHLETES IN MARCH. FOUR EVENING VIRTUAL WORKSHOPS WITH A VIRGINIA NONPROFIT ENGAGED MORE THAN 300 PARTICIPANTS ON TOPICS OF FINANCIAL SUCCESS, SAVINGS, BANKING, AND BUDGETING.COMMUNITY AND PROFESSIONAL COLLABORATIONDRS CONTINUED ITS COMMITMENT TO OUTREACH AND NETWORK BUILDING BY SPENDING OVER 28HOURS IN COMMUNITY EVENTS AND COLLABORATIVE MEETINGS PROMOTING FINANCIAL LITERACY AND HOUSING STABILITY. ACTIVITIES INCLUDED:- PARTICIPATION IN POCATELLO ACCESS POINT SUPPORTIVE HOUSING GROUPS (6.5 HOURS)- PROGRAM COORDINATING COMMITTEE MEETINGS WITH BOISE CITY-ADA COUNTY HOUSING AUTHORITIES (3 HOURS)- JOINING FORCES EASTERN IDAHO MEETINGS SUPPORTING VETERANS (3 HOURS)- MORE THAN 15 HOURS ACTIVELY ENGAGING WITH EXPERIAN'S WEEKLY @CREDITCHAT ON SOCIAL MEDIA- ACTIVE LIAISON WORK WITH HOUSING AUTHORITIES IN GEORGIA, FLORIDA, AND NEW JERSEY TO CONNECT CLIENTS WITH CREDIT AND HOUSING EDUCATION- SERVICE AS SECRETARY OF THE HOUSING IDAHO COMMITTEE WITHIN THE IDAHO HOUSING AND FINANCE ASSOCIATIONBANKRUPTCY COUNSELING AND EDUCATIONTHE ORGANIZATION MAINTAINED ITS APPROVAL BY THE EXECUTIVE OFFICE FOR U.S. TRUSTEES TO PROVIDE PRE-BANKRUPTCY CREDIT COUNSELING (90 COMPLETIONS) AND POST-BANKRUPTCY PERSONAL FINANCIAL MANAGEMENT EDUCATION (33 COMPLETIONS) NATIONWIDE. ALL SESSIONS ARE AVAILABLE ONLINE FOR CLIENT CONVENIENCE AND ACCESSIBILITY.

Source: Form 990 for the year ending December 31, 2024, 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 October 13, 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 October 13, 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 October 13, 2026.

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

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

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

    Recognized by the IRS since June 1997.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 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 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.