Massachusetts Debt Relief Foundation Inc.
|
300 Commercial Street Boston, MA 02109 |
[P] (508) 232-4633 [F] -- |
|
massdebtrelieffoundation.org [email protected] Jessica Podkalicki |
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INCORPORATED: 2011
Printable Profile (Summary / Full) EIN 45-2656770 |
LAST UPDATED: 09/07/2018 |
| Organization DBA | -- |
|---|---|
| Former Names | -- |
| Organization received a competitive grant from the Boston Foundation in the past five years | No |
Summary
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Mission StatementMORE »Our mission is to improve the quality of life for people
unduly burdened with excessive debt through no fault of their own, by providing
compassionate and effective pro bono legal representation to eliminate debt and
restore peace of mind.
|
Mission StatementOur mission is to improve the quality of life for people
unduly burdened with excessive debt through no fault of their own, by providing
compassionate and effective pro bono legal representation to eliminate debt and
restore peace of mind.
|
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Financials
| Fiscal Year | Jan 01, 2018 to Dec 31, 2018 |
|---|---|
| Projected Income | $25,000.00 |
| Projected Expense | $25,000.00 |
Programs
- Pro Bono Legal Aid for Chapter 7 Bankruptcy
Revenue vs. Expense ($000s)
Expense Breakdown 2017 (%)
Expense Breakdown 2016 (%)
Expense Breakdown 2015 (%)
For more details regarding the organization's financial information, select the financial tab and review available comments.
Overview
Mission Statement
Our mission is to improve the quality of life for people
unduly burdened with excessive debt through no fault of their own, by providing
compassionate and effective pro bono legal representation to eliminate debt and
restore peace of mind.
Background Statement
Massachusetts Debt Relief Foundation, (MDRF), an IRS
501(c)(3) approved charity, is the State's first and only pro bono firm
dedicated exclusively to representing low-income Massachusetts residents in
Chapter 7 Bankruptcy. We have offices in Boston, Worcester, Natick, and
Springfield. We provide one-on-one in depth analysis of our clients’
income, assets, debt, as well as short-term and long-term goals to advise the
best route to financial stability. If appropriate, we provide complete legal
representation in bankruptcy to discharge debt, and then based on need,
collaborate with clients to ensure they possess the tools to best take
advantage of their fresh start, including developing a budget and rebuilding
credit. Many residents of Massachusetts, through no fault of their own,
whether due to illness, disability, job loss, scarcity of employment
opportunities or for other reasons are unable to stay current with their
financial obligations and can find themselves feeling vulnerable and falling
into poverty due to debt. A recent survey conducted in the Greater Boston area
demonstrates the barriers created by debt, showing that debt is a contributing
barrier to employment, post-secondary education, and most importantly to the individual’s
ability “to meet basic needs such as obtaining food, shelter, and medical
care.”
Impact Statement
Our organization has consulted over 185 Massachusetts
residents on whether or not filing for bankruptcy was the right option. Not
only do we continue to meet with clients in Boston, but we work all over the
state of Massachusetts. MDRF continues to work throughout Boston, Worcester,
Springfield, and Natick. The Program’s impact will also ideally spread
throughout the community, as the participants who leave with the tools to
better their financial well-being can spread this information to friends and
family. Our bankruptcy filing software, advertisements and mailings,
fundraising efforts, and evaluation of our programs are vital and necessary
costs for our organization.
Needs Statement
Our innovative program is designed to immeasurably better
the lives of families, while improving the overall financial well-being of our
community. When families find themselves in debt, perhaps from medical crisis,
job loss, death, disability, or any number of unexpected reasons, MDRF can
offer a fresh start together with educational tools and support to prepare for
the future. Considering the increasing number of individuals who reach out
to us for advice through our website, phone, and through referrals from
community organizations, there is still a great need for our program in
Massachusetts. Many reach us after talking to others we’ve helped, food
pantries, 211, social workers, and court clerks.
CEO Statement
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Board Chair Statement
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Geographic Area Served
STATEWIDE
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Organization Categories
- Crime & Legal - Related - Legal Services
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- -
Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)
Under Development
Programs
Pro Bono Legal Aid for Chapter 7 Bankruptcy
| The main program at Mass Debt Relief Foundation is our debt relief services. Our attorneys meet with clients in need of advice on debt and credit relief options. The people who contact us at MDRF range from simple budgeting issues to bankruptcy legal action. However, MDRF only provides pro bono legal aid to Chapter 7 clients. The primary consultation with our organization—where a client can discuss credit repair, budgeting, and debt relief options—is always free. | |
| Budget | -- |
|---|---|
| Category | None of the above |
| Population Served | Poor,Economically Disadvantaged,Indigent Families Unemployed, Underemployed, Dislocated |
| Program Short-Term Success | Massachusetts residents achieve debt relief and can start to build a new and fresh life. |
| Program Long-Term Success | Once overwhelming debt costs are settled, individuals and families can start to work on becoming successful in other parts of their lives. People can start to focus on paying rent and utilities, acquiring better jobs, and eventually saving people for the future. |
| Program Success Monitored By | -- |
| Examples of Program Success | Mass Debt Relief Foundation has countless success stories from past clients. Steve and Susan Jones* were laid off without warning in 2015. Supporting their three young daughters, ages 2, 6 and 13, the family’s income dropped from $64,000 to $20,000 within a year. Without the funds to cover rent, Steve and Susan lost their home and were forced to uproot their family to move across Massachusetts to stay with family. One such story follows: They’ve continued to work hard to improve their income, both applying for dozens and dozens of jobs. Steve is driving for a ride-share company, while Susan cares for their children and sells off household items for money. Without stable income, the debt they were covering before they lost their employment, combined with rent, utilities and other expenses became overwhelming. Eventually, the family lost two vehicles to repossession and had $329 in the bank. They needed a fresh start. With our help, the Jones are debt-free and were able to start building up enough savings to cover the cost of moving into a new home. They are living within their budget, have a stable home, and are in a better position to rebuild their finances. |
CEO/Executive Director/Board Comments
| -- |
Management
| CEO/Executive Director | Mr. Richard Ravosa |
|---|---|
| CEO Term Start | Jan 2011 |
| CEO Email | [email protected] |
| CEO Experience | -- |
| Co-CEO | -- |
| Co-CEO Term Start | -- |
| Co-CEO Email | -- |
| Co-CEO Experience | -- |
Former CEOs and Terms
| Name | Start | End |
|---|---|---|
| -- | -- | -- |
Senior Staff
| Name | Title | Experience/Biography |
|---|---|---|
| -- | -- | -- |
Awards
| Award | Awarding Organization | Year |
|---|---|---|
| -- | -- | -- |
Affiliations
| Affiliation | Year |
|---|---|
| -- | -- |
| Member of state association of nonprofits? | No |
|---|---|
| Name of state association | -- |
External Assessments and Accreditations
| External Assessment or Accreditation | Year |
|---|---|
| -- | -- |
Collaborations
--
CEO/Executive Director/Board Comments
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Foundation Comments
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Staff Information
| Number of Full Time Staff | 1 |
|---|---|
| Number of Part Time Staff | 1 |
| Number of Volunteers | 4 |
| Number of Contract Staff | 0 |
| Staff Retention Rate % | -- |
Staff Demographics
| Ethnicity | African American/Black: 0 Asian American/Pacific Islander: 0 Caucasian: 6 Hispanic/Latino: 0 Native American/American Indian: 0 Other: 0 Other (if specified): -- |
|---|---|
| Gender | Female: 4 Male: 2 Not Specified 0 |
Plans & Policies
| Organization has Fundraising Plan? | Under Development |
|---|---|
| Organization has Strategic Plan? | Under Development |
| Years Strategic Plan Considers | -- |
| Management Succession Plan | -- |
| Business Continuity of Operations Plan | -- |
| Organization Policies And Procedures | Under Development |
| Nondiscrimination Policy | Under Development |
| Whistle Blower Policy | No |
| Document Destruction Policy | -- |
| Directors and Officers Insurance Policy | -- |
| State Charitable Solicitations Permit | -- |
| State Registration | -- |
Risk Management Provisions
| -- |
Reporting and Evaluations
| Management Reports to Board? | Yes |
|---|---|
| CEO Formal Evaluation and Frequency | N/A N/A |
| Senior Management Formal Evaluation and Frequency | N/A N/A |
| Non Management Formal Evaluation and Frequency | N/A N/A |
Governance
| Board Chair | Mr. Richard Ravosa |
|---|---|
| Board Chair Company Affiliation | The Law Offices of Richard Ravosa |
| Board Chair Term | Jan 2013 - |
| Board Co-Chair | -- |
|---|---|
| Board Co-Chair Company Affiliation | -- |
| Board Co-Chair Term | - |
Board Members
| Name | Company Affiliations | Status |
|---|---|---|
| Michelle Cote | Law Offices of Richard S. Ravosa | Voting |
| Maegan Hurley | Massachusetts Debt Relief Foundation Inc | Voting |
| Frank Kautz | The Kautz Law Office | Voting |
| Greta LaMountain Biagi | The Law Office of Greta LaMountain Biagi | Voting |
| Paul Mauri | Anadarko Petroleum | Voting |
| Miranda Orcutt | Self Employed | Voting |
| Helen Plant | Framingham Housing Authority | Voting |
Constituent Board Members
| Name | Company Affiliations | Status |
|---|---|---|
| -- | -- | -- |
Youth Board Members
| Name | Company Affiliations | Status |
|---|---|---|
| -- | -- | -- |
Advisory Board Members
| Name | Company Affiliations | Status |
|---|---|---|
| -- | -- | -- |
Board Demographics
| Ethnicity | African American/Black: 1 Asian American/Pacific Islander: 0 Caucasian: 7 Hispanic/Latino: 0 Native American/American Indian: 0 Other: 0 Other (if specified): 0 |
|---|---|
| Gender | Female: 5 Male: 3 Not Specified 0 |
Board Information
| Board Term Lengths | -- |
|---|---|
| Board Term Limits | -- |
| Board Meeting Attendance % | -- |
| Written Board Selection Criteria | No |
| Written Conflict Of Interest Policy | No |
| Percentage of Monetary Contributions | 50% |
| Percentage of In-Kind Contributions | -- |
| Constituency Includes Client Representation | No |
Standing Committees
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CEO/Executive Director/Board Comments
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Foundation Comments
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Financials
Revenue vs. Expense ($000s)
Expense Breakdown 2017 (%)
Expense Breakdown 2016 (%)
Expense Breakdown 2015 (%)
| Fiscal Year | Jan 01, 2018 to Dec 31, 2018 |
|---|---|
| Projected Income | $25,000.00 |
| Projected Expense | $25,000.00 |
| Form 990s | -- |
| Audit Documents | -- |
| IRS Letter of Exemption |
Prior Three Years Total Revenue and Expense Totals
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Total Revenue | $32,878 | $21,053 | $14,900 |
| Total Expenses | $31,518 | $27,143 | $10,629 |
Prior Three Years Revenue Sources
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Foundation and Corporation Contributions |
-- | -- | -- |
| Government Contributions | $0 | $0 | $0 |
| Federal | -- | -- | -- |
| State | -- | -- | -- |
| Local | -- | -- | -- |
| Unspecified | -- | -- | -- |
| Individual Contributions | $29,963 | $20,560 | $12,004 |
| Indirect Public Support | -- | -- | -- |
| Earned Revenue | -- | -- | -- |
| Investment Income, Net of Losses | -- | -- | -- |
| Membership Dues | -- | -- | -- |
| Special Events | $2,915 | $381 | $2,896 |
| Revenue In-Kind | -- | -- | -- |
| Other | -- | $112 | -- |
Prior Three Years Expense Allocations
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Program Expense | -- | $0 | $931 |
| Administration Expense | $27,900 | $25,063 | $8,080 |
| Fundraising Expense | $3,618 | $2,080 | $1,618 |
| Payments to Affiliates | -- | -- | -- |
| Total Revenue/Total Expenses | 1.04 | 0.78 | 1.40 |
| Program Expense/Total Expenses | 0% | 0% | 9% |
| Fundraising Expense/Contributed Revenue | 11% | 10% | 11% |
Prior Three Years Assets and Liabilities
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Total Assets | $636 | $1,459 | $6,930 |
| Current Assets | $636 | $1,459 | $6,930 |
| Long-Term Liabilities | $0 | $0 | $0 |
| Current Liabilities | $0 | $0 | $0 |
| Total Net Assets | $636 | $1,459 | $6,930 |
Prior Three Years Top Three Funding Sources
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| 1st (Source and Amount) |
-- -- |
-- -- |
-- -- |
| 2nd (Source and Amount) |
-- -- |
-- -- |
-- -- |
| 3rd (Source and Amount) |
-- -- |
-- -- |
-- -- |
Financial Planning
| Endowment Value | -- |
|---|---|
| Spending Policy | -- |
| Percentage(If selected) | -- |
| Credit Line | No |
| Reserve Fund | No |
| How many months does reserve cover? | -- |
Capital Campaign
| Are you currently in a Capital Campaign? | No |
|---|---|
| Capital Campaign Purpose | -- |
| Campaign Goal | -- |
| Capital Campaign Dates | - |
| Capital Campaign Raised-to-Date Amount | -- |
| Capital Campaign Anticipated in Next 5 Years? | -- |
Short Term Solvency
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Current Ratio: Current Assets/Current Liabilities | -- | -- | -- |
Long Term Solvency
| Fiscal Year | 2017 | 2016 | 2015 |
|---|---|---|---|
| Long-term Liabilities/Total Assets | 0% | 0% | 0% |
CEO/Executive Director/Board Comments
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Foundation Comments
This organization files a 990-N/Postcard with the IRS, as such, data in the charts and graphs above is per the nonprofit.
Documents
Other Documents
| No Other Documents currently available. |
Impact
The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.
1. What is your organization aiming to accomplish?
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2. What are your strategies for making this happen?
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3. What are your organization’s capabilities for doing this?
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4. How will your organization know if you are making progress?
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5. What have and haven’t you accomplished so far?
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