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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: 04/19/2018
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 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.

FinancialsMORE »

Fiscal Year Jan 01, 2018 to Dec 31, 2018
Projected Income $25,000.00
Projected Expense $25,000.00

ProgramsMORE »

  • Pro Bono Legal Aid for Chapter 7 Bankruptcy

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

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

  1. Crime & Legal - Related - Legal Services
  2. -
  3. -

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

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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
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Senior Staff

Name Title Experience/Biography
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Awards

Award Awarding Organization Year
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Affiliations

Affiliation Year
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Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
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Collaborations

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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

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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
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Youth Board Members

Name Company Affiliations Status
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Advisory Board Members

Name Company Affiliations Status
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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 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

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

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 --
Total Revenue $21,053 $14,900 --
Total Expenses $27,143 $10,629 --

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 --
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 --
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $20,560 $12,004 --
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses -- -- --
Membership Dues -- -- --
Special Events $381 $2,896 --
Revenue In-Kind -- -- --
Other $112 -- --

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 --
Program Expense $0 $931 --
Administration Expense $25,063 $8,080 --
Fundraising Expense $2,080 $1,618 --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 0.78 1.40 --
Program Expense/Total Expenses 0% 9% --
Fundraising Expense/Contributed Revenue 10% 11% --

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 --
Total Assets $1,459 $6,930 --
Current Assets $1,459 $6,930 --
Long-Term Liabilities $0 $0 --
Current Liabilities $0 $0 --
Total Net Assets $1,459 $6,930 --

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 --
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
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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 2016 2015 --
Current Ratio: Current Assets/Current Liabilities -- -- --

Long Term Solvency

Fiscal Year 2016 2015 --
Long-term Liabilities/Total Assets 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. This nonprofit is newer and additional financial data will be posted when it becomes available.
 
 

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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