A Debt Coach 2014 Annual Report



2014 Annual Report

Mission Statement

A Debt Coach Credit Counseling Service (ADC) was started by a local businessman who saw a need in our community to help people free themselves from the financial restraints of debt.

ADC will provide debt management assistance to all consumers as well as promote credit education through budgeting tools, educational workshops and credit counseling services. We have a staff of trained and Certified Credit Counselors that will create a personal debt management plan for any consumer.

ADC rests its principals and morals on being Honest, Positive, and Professional to all clients and creditors. We are committed to helping one person at a time to see the light of being debt free.

ADC continually seeks new ways to improve the quality of our services. Top management is committed to meeting these requirements and to continually improve the quality management system.

Board of Directors

The Board of Directors of ADC is committed to a ministry of integrity and encouragement. By focusing on spiritual growth and compassion, ADC encompasses a “loving spirit” as we interact with clients, co-workers, the local community, and other stakeholders.

Mr. Greg McTaggart, Chairperson, Treasure

Mr. Dan Murincsak

Mr. John White

Mr. Dan Adams Jr.

Mr. Bradley Wood, President

Message from our Board Chairman

2014 saw many changes for our small non-profit agency.  Over the last 9 months we have been re-structuring and re-branding the agency.  We have successfully reduced expenses below income, moved the agency to a growing, more densely populated area, and started networking in the community to get our name out.  The company’s name has been changed, along with a new logo and marketing materials.  We have moved the agency onto a new operating platform and we have updated the company’s website and client interface portals along with the addition of Facebook and Twitter social media networks.  Vendors, creditors and regulators are being notified of the name changes and audits and grant applications are being completed on time. There are still clerical duties to complete, like the policies and procedural manuals and preparing for the BSI audit, but the agency is ready to move forward and grow.

The ability to grow will reside entirely with our ability to reach customers that need our services. We can increase the services we offer, we can increase the states we offer them, but it is all useless unless we can increase the number of customers we reach.

We have run radio advertising for the last 6 months but that has proven expensive, over 1000.00 per new client.  If we count the free referrals it brings the cost down to 140.00 per new client.  80% of new enrollments over the last 4 months have come from free sources; networking, CCC, friends, internet search, restarts, and other.  The largest of those sources is CCC which will most likely continue to decrease as they become licensed in more states.

Growth is our number one priority.  Growth with minimal investment is our only option.  Our plan to achieve this growth will come in three parts:

  • Increase Marketing: More needs to be done to inform individuals and the community of the services we offer. These needs to be done through both paid marketing and grass roots networking.
  • New Services: Services need to be added that can increase the revenue streams without having to increase our marketing expenditure. There are services that can be offered to the existing clients and services that are within the realm of the financial counseling work that we are already doing.
  • Expansion into more states: Expansion into other states will increase our reach and add to growth.

2014 Accomplishments



Noteworthy Items

ADC strives to adhere to all federal and state regulations in the administration of our Debt Management Plans (DMP). As a result, ADC has adopted the following fee structure for the administration of DMPs. A portion or all of the fees may be waived based on the client’s ability to pay and degree of financial hardship.

  • Counseling and Education: ADC offers this service free of charge.
  • Set-up Fee: ADC caps the set-up fee at $49 in line with our non-profit status. This initial one-time fee is to cover the administrative costs associated with enrolling clients in DMPs.
  • Monthly Recurring Fee: To maintain the DMPs, ADC charges a fee up to $49 each month that a client participates in the plan. The amount and calculation on method varies by state.
  • NSF Fee: A $25 fee would only be assessed in the event that the client’s ACH debit attempt was declined and returned to ADC as insufficient funds.


Financial Information – following is an overview of ADC’s income and expenses for the year-ended December 31, 2014.

Total Income:                            $318,758

Program Expenses:                        $ 225,259

Fundraising Expenses:   $            $             0

Administrative Expenses:             $   96,538

Total Expenses:                          $ 321,798




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