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BBB Reliability Report for

Money Mentors


A BBB Accredited Charity since 10/25/2012.


This BBB Accredited Charity meets all 20 Standards for Charity Accountability and is a Seal Holder.
BBB issues Charity Reports on all organizations, whether or not they are BBB accredited. If an organization is a BBB Accredited Charity, it is stated in this report.
Name: Money Mentors
Phone: (888) 294-0076
Address: Suite 150, 1200 - 59 Ave SE
Calgary, AB T2H 2M4
Website: www.moneymentors.ca
Report Creation Date: April 17, 2012
Report Expiration Date: May 23, 2015
Original Business Start Date: January 1997
Principal: Tracy Watson, Director of Communication
Customer Contact: Tracy Watson, Director of Communication
Type of Business: Credit & Debt Counseling, Charity - Local
BBB Accreditation: This organization is a BBB Accredited Charity.

Additional DBA Names

Credit Counselling Services of Alberta

Stated Purpose

To educate Albertans in personal money management and the wise use of credit, and to provide alternatives for individuals and families facing financial crisis.


Evaluation Conclusions

This organization has been evaluated according to the 20 BBB Standards for Charity Accountability. This organization meets all those Standards and is a BBB Accredited Charity.


BBB Charity Seal Participation

Charities that meet the Standards for Charity Accountability are eligible to participate in BBB Wise Giving Alliance Charity Seal program. The seal, which can be displayed on the charity's web site and in printed materials, helps inform the public that the charity meets these standards. This organization participates in this program.


Programs

Our goal is to help Albertans with overwhelming debt.

Total Program Expenses:$2,040,108

Governance

Chief Executive Officer:Jim Thorne
Chair of the Board:Gary Howitt
Board Size:10
Paid Staff Size:12 Full Time. 14 Part Time.

Fund Raising

Method(s) Used:Funds are raised by donations.


Tax Status


Financial

According to Money Mentors's Audited Financial Statements for the year ended December 31, 2012:

Income
 Levies$2,277,693
  Fees and Services$863,340
  Interest$18,655
  Contributions$1,309
  Loss on disposal of equipment$-6,425
 Total Income:$3,154,572
 
Expenses  % of total
Expenses
 Programs:$2,040,108 74.59%
 Fund Raising:$0 0.00%
 Administrative:$694,992 25.41%
 Other:$0 0.00%
 Total Expenses:$2,735,100
 
Excess of Income over Expenses$419,472
Ending Net Assets:$2,685,750

* Excess for the year indicates the portion of income remaining after expenses.


Charity Licensing

Revenue Canada Registration # 89165 2463 RR0001

Credit Counselling Services of Alberta is a registered charitable organization and is therefore authorized to issue receipts for tax reduction.


Additional Contact Information

Additional Phone Numbers
Tel: (403) 234-6189


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Industry Tips

Charity

Tips for Giving

Most charities are honest and ethical, but questionable solicitors are counting on the fact that you won't bother to check out the charity before you give. Here is some basic wise giving advice:

1. Watch out for similar names. As there are many charities raising funds for similar causes, some charity names sound the same. Be sure to look at the name carefully, because the charity soliciting you may not be the one you have in mind.

2. Do not be pressured to make an immediate gift. Be wary of solicitors that demand an "on the spot donation." Charities should welcome your gift whenever you want to send it.

3. Question vague appeals. Appeals should clearly identify the charity's programs. Watch out for appeals that are strong on identifying a problem, but weak on describing what specifically the charity intends to do about it.

4. Do not give out personal information to phone solicitors. Don't give out credit card numbers, chequing account numbers, or any other personal information to unknown telephone solicitors.

5. Do not give cash. Write out a cheque to the charity's full official name, not to an individual or third party that may be collecting the donation.

6. Keep records of your donations (receipts, cancelled cheques and bank statements) so you can document you charitable giving at tax time.

7. If you want a deduction, make sure the organization is a charity. There are many different types of soliciting nonprofit organizations. Most appeals will indicate if the organization is eligible to receive gifts deductible as charitable donations. (To be sure, review the list of organizations on file with the Canada Revenue Agency or ask the charity for a copy of its registration number.)

8. Don't hesitate to ask the charity for written information on its programs and finances. This tip can be particularly helpful in responding to phone appeals form charities that interest you.

9. To verify if a charity is registered to solicit, contact your provincial government. In most cases, this will be the office of the Public Guardian & Trustee or the Canada Revenue Agency. Remember that provincial registration does not mean "approval," it means the group has filed the appropriate forms.

10. Report bad practices. Contact you Better Business Bureau.


ID: 1052049
Report as of April 22, 2014 12:14
Copyright© 2014 Better Business Bureau


An organization may change its practices at any time without notice. Donors must decide for themselves the significance of any variation from BBB Standards, taking into account the relative importance of the practice in question in the context of the organization's total performance.

This report reflects the results of an evaluation of informational materials provided voluntarily by the organization. The report is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgement.

This report is not to be used for fund raising or promotional purposes.


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