Overview
What is Shared Interest Inc?
Shared Interest Inc is a nonprofit organization situated in New York, with a mission to foster equitable development in post-apartheid South Africa and its neighboring countries. They achieve this by guaranteeing bank loans to low-income borrowers, enabling them to support their families, build or expand homes, or establish businesses. This, in turn, generates employment opportunities within their communities. The organization's activities are backed by outstanding agreements, securing commercial loans for small and growing businesses, agricultural enterprises, and micro-finance institutions in the Southern Africa region. This risk-sharing initiative encourages local non-bank financial institutions and alternative lenders to invest in small business finance and lending to economically disadvantaged individuals. Shared Interest Inc relies on US-custodied investments, funded by loans and donations from American individuals, family foundations, faith-based institutions, healthcare systems, and other investors, who accept concessionary financial returns in exchange for the social impact created by the organization. The organization currently employs 6 individuals.
Official website here: www.sharedinterest.org
Is Shared Interest Inc legitimate?
Shared Interest Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shared Interest Inc 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.
Here are some key statistics you may want to consider:
Executive Compensation: $185,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $414,228
For more financial information, click here
What is the mission statement of Shared Interest Inc?
Shared Interest Inc's mission is centered around the equitable development of post-apartheid South Africa and neighboring countries. The organization achieves this by guaranteeing bank loans to low-income borrowers, enabling them to support their families, construct or expand their homes, or start businesses. This, in turn, generates employment opportunities within their communities. Shared Interest Inc's primary objective is to promote social reconstruction in the region by facilitating access to credit for individuals who have traditionally been considered unbankable by mainstream financial institutions. Without their loan guarantees, a significant portion of the population in Southern Africa would continue to be economically marginalized.
Official website here: www.sharedinterest.org
Who is the CEO of Shared Interest Inc?
What is the revenue of Shared Interest Inc?
Who are the executives of Shared Interest Inc and what are their salaries?
The average compensation at Shared Interest Inc during 2022 was $99,871. There are 6 employees and 6 volunteers at Shared Interest Inc.
Here are 22 key members and their salaries:
- Ann Mcmikel (Executive Director & Officer)
- Martha Brantley (Director Of Strategic Partnerships)
- Shukura Shears (Director Of Individual Giving)
- Matthew Patsky (Director)
- Alonzo Fulgham (Director)
- Sarah Leshner (Director)
- Linnie Mclean (Director)
- Ricardo Michel (Director)
- Ron Shiffman (Director)
- Richard Tolliver (Director)
- David Wildman (Director & Vice Chairman)
- Adrienne Bailey (Director & Secretary)
- Penelope Andrews (Director)
- Diane Keefe (Director)
- Louise Nankiinga (Director & Treasurer)
- Aleah Bacquie Vaughn (Director)
- Timothy Smith (Director)
- Tebojo Moja (Director)
- Palesa Morudu (Director)
- Schuyla Goodson (Director)
- Joan Benson (Director)
- Charlotte Mcclain-Nhlapo (Director)
Official website here: www.sharedinterest.org
Where can I find the form 990 for Shared Interest Inc?
The Shared Interest Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.sharedinterest.org
Learn more at the official website: www.sharedinterest.org
Mission Statement of Shared Interest Inc
Shared Interest Inc, a nonprofit organization, aims to foster equitable development in post-apartheid South Africa and neighboring countries. Their mission is to guarantee bank loans for low-income borrowers, enabling them to support their families, construct or expand their dwellings, or establish businesses. These ventures, in turn, generate employment opportunities for others within their communities.
The organization recognizes the historical reluctance of mainstream banks and financial institutions to extend credit to a segment of the population they deem 'un-bankable'. This majority of Southern African citizens would continue to be economically marginalized without the loan guarantees provided by Shared Interest Inc. By facilitating access to credit through these guarantees, the organization plays a significant role in promoting social reconstruction in the region.
Impact
This information is meant to be a general summary of Shared Interest Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Shared Interest Inc's impact is significant in promoting the equitable development of post-apartheid South Africa and neighboring countries. By guaranteeing bank loans to low-income borrowers, the organization enables individuals to support their families, build or expand their dwellings, or start businesses. This, in turn, generates employment opportunities within their communities.
Through outstanding agreements guaranteeing commercial loans to small and growing businesses, agricultural enterprises, and micro-finance institutions in the Southern Africa region, Shared Interest Inc has facilitated the unlocking of total lending amounts exceeding $3,859,163. The organization's guarantee program, carried out through standby bank letters of credit, instills confidence in local financial institutions and alternative lenders to provide financial support to economically disenfranchised individuals.
By collateralizing the letters of credit with US-custodied investments funded by loans and donations from various sources, including American individuals, family foundations, and faith-based institutions, Shared Interest Inc ensures financial returns for investors while creating significant social impact. Overall, the organization's mission of promoting social reconstruction and facilitating access to credit for the economically marginalized population in Southern Africa underscores its vital role in fostering sustainable development in the region.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EARNED INTEREST RETURN
Revenue
$182,913
Organization Details
Founding Year
1995
Phone
(212) 337-8547
Principal Officer
Amye Jameson
Main Address
1412 BROADWAY 21ST FLOOR MA 126, NEW YORK, NY, 10018
Website
www.sharedinterest.org
NTEE Category
Code: Q320 - International
If you are a representative of Shared Interest Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.