Overview
What is Community Concepts Finance Corporation?
Community Concepts Finance Corporation is a nonprofit organization situated in Lewiston, Maine, with a focus on promoting housing development and homeownership. Their primary mission is to stimulate housing growth within the state, particularly for low-income families. They achieve this through various funding mechanisms, such as lending services and home building. Additionally, they offer credit and home ownership education to help individuals navigate the process of homeownership. Beyond housing, they also engage in small business lending and economic development activities in low-income urban and rural areas. Their services extend to providing education, training, and financial resources for affordable housing development and low-income homeownership. In summary, Community Concepts Finance Corporation is dedicated to fostering housing development and promoting homeownership, while also supporting small businesses and economic development in low-income areas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Community Concepts Finance Corporation received an 83% rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization has demonstrated a strong commitment to governance, with 100% of its board members being independent, thus ensuring effective oversight. Additionally, it has a robust financial oversight structure, scoring full points in several categories including its audit and oversight committee and conflict of interest policies.
The organization excels in its program expense ratio, allocating 92.53% of its expenses directly to its programs, which reflects a clear focus on its mission and effective use of resources. However, the liabilities to assets ratio at 65.04% suggests a moderate level of financial risk, which could be a point of concern for potential donors regarding the sustainability of its operations.
Overall, Community Concepts Finance Corporation demonstrates strong governance and operational effectiveness, though potential supporters may want to consider its financial leverage as part of their decision-making process.
This AI summary has been generated from information found on Charity Navigator.
Is Community Concepts Finance Corporation legitimate?
Community Concepts Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Concepts Finance Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Community Concepts Finance Corporation?
Community Concepts Finance Corporation's mission is centered around promoting housing development and homeownership, particularly for low-income families. The organization seeks to stimulate this growth by offering alternative financial resources for affordable housing development and low-income homeownership. Additionally, they provide education and training services to support the development of low-income housing. Furthermore, Community Concepts Finance Corporation extends its aid by offering educational resources and financial assistance, including loans, for business and economic development activities in urban and rural low-income areas.
Who is the CEO of Community Concepts Finance Corporation?
James Martin is the Principal Officer of Community Concepts Finance Corporation. The CEO's salary of Community Concepts Finance Corporation is $0 and their total compensation is $149,601.
What is the revenue of Community Concepts Finance Corporation?
Community Concepts Finance Corporation's revenue in 2022 was $1,681,821.
Who are the executives of Community Concepts Finance Corporation and what are their salaries?
There 5 volunteers at Community Concepts Finance Corporation.
Here are 9 key members and their salaries (Community Concepts Finance Corporation's CEO's salary is $0 and their total compensation is $149,601):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $146,313
- Other: $37,592
- Compensation: $0
- Related: $111,069
- Other: $24,839
- Compensation: $0
- Related: $93,486
- Other: $246
- Compensation: $0
- Related: $129,478
- Other: $20,123
Where can I find the form 990 for Community Concepts Finance Corporation?
Community Concepts Finance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Concepts Finance Corporation
Community Concepts Finance Corporation is an organization with a mission to stimulate and encourage housing development and homeownership within Maine. This mission is particularly focused on low-income families. The corporation aims to provide alternative financial resources for the development of affordable housing and low-income homeownership. In addition to this, Community Concepts Finance Corporation offers education and training services to support the development of low-income housing. Furthermore, the organization extends its reach beyond housing, offering financial resources, including loans, for business and economic development activities in urban and rural low-income areas.
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Impact
July, 2024
Community Concepts Finance Corporation's impact is significant in promoting housing development and home ownership within Maine, particularly for low-income families. By providing lending services, credit and home ownership education, this organization creates homeowners and supports the development of affordable multi-family housing through various funding mechanisms. Additionally, Community Concepts Finance Corporation offers similar services in small business lending and economic development, aiming to provide alternative financial resources for affordable housing development and low-income homeownership. Through education, training, and financial resources, including loans, this organization plays a crucial role in supporting business and economic development activities in urban and rural low-income areas in Maine.
This information is meant to be a general summary of Community Concepts Finance Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,319
- Program Service Revenue: $918,700
- Gross Receipts: $1,681,821
Assets and Liabilities:
- Total Assets: $12,664,182
- Total Liabilities: $8,345,828
- Net Assets: $4,318,354
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Income, Loans
Revenue
$452,997
Other Income
Revenue
$350,527
Fees, Private
Revenue
$115,176
Organization Details
Founding Year
2000
Phone
(207) 739-6545Principal Officer
James Martin
Main Address
240 Bates Street, Lewiston, ME, 04240
NTEE Category
Code: L20 - Housing
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