Overview
What is The Provident Loan Society Of New York?
The Provident Loan Society of New York is a nonprofit organization located at 346 Park Avenue South, 2nd Floor, New York, NY 10010. Their primary mission is to aid individuals in financial need by providing loans against the pledge of personal property. In 2022, they granted approximately 15,873 loans. With a workforce of 33 employees, they offer financial assistance to those in need, contributing to their financial stability.
Official website here: www.providentloan.com
Is The Provident Loan Society Of New York legitimate?
The Provident Loan Society Of New York is a legitimate nonprofit organization registered as a 501(c)(4) entity. The Provident Loan Society Of New York 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: $587,593
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,564,624
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Official website here: www.providentloan.com
What is the mission statement of The Provident Loan Society Of New York?
The Provident Loan Society of New York's mission is centered around providing financial assistance to individuals in need. This is accomplished through the provision of loans, with interest, based on the pledge of personal property. The primary goal of the society is to aid those who are financially struggling and in need of immediate monetary assistance. In 2022, the society made approximately 15,873 such loans.
Official website here: www.providentloan.com
Who is the CEO of The Provident Loan Society Of New York?
John T Higney is the President & Ceo of The Provident Loan Society Of New York. The CEO's salary of The Provident Loan Society Of New York is $194,513 and their total compensation is $248,101.
Official website here: www.providentloan.com
What is the revenue of The Provident Loan Society Of New York?
The Provident Loan Society Of New York's revenue in 2022 was $4,261,838.
Official website here: www.providentloan.com
Who are the executives of The Provident Loan Society Of New York and what are their salaries?
The average compensation at The Provident Loan Society Of New York during 2022 was $65,219. There are 33 employees and 9 volunteers at The Provident Loan Society Of New York.
Here are 15 key members and their salaries (The Provident Loan Society Of New York's CEO's salary is $194,513 and their total compensation is $248,101):
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- Compensation: $194,513
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- Other: $53,588
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- Other: $29,587
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- Other: $13,405
- Compensation: $114,067
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- Other: $12,839
- Compensation: $100,950
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- Other: $20,532
Official website here: www.providentloan.com
Where can I find the form 990 for The Provident Loan Society Of New York?
The Provident Loan Society Of New York's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.providentloan.com
Learn more at the official website: www.providentloan.com
Mission Statement of The Provident Loan Society Of New York
The Provident Loan Society of New York, as its name suggests, is a nonprofit organization dedicated to assisting individuals in financial need. The society's mission is to provide aid in the form of loans, charging interest, with the borrowers' personal property serving as collateral. This socially responsible lending institution undertakes a singular program service activity: offering loans to individuals in need of pecuniary assistance. In the year 2022, the society extended around 15,873 such loans, demonstrating its commitment to fulfilling its mission.
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Impact
October, 2024
The Provident Loan Society of New York plays a crucial role in providing financial support to individuals facing economic hardships. By facilitating loans against personal property, the organization offers a vital resource for those who may lack access to traditional banking services or require urgent funds. In 2022 alone, the Society issued approximately 15,873 loans, directly impacting countless lives by helping people navigate financial challenges.
This assistance not only alleviates immediate monetary needs but also empowers borrowers by giving them an opportunity to regain financial stability. By enabling access to credit, The Provident Loan Society helps foster resilience in the community, promoting economic mobility and security. The Society’s focus on aid through personal loans illustrates its commitment to serving individuals who seek assistance in times of need. Overall, its impact extends beyond mere financial transactions; it supports the broader goal of enhancing public benefit and community well-being in New York.
This information is meant to be a general summary of The Provident Loan Society Of New York. 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: $381
- Program Service Revenue: $2,496,758
- Gross Receipts: $4,261,838
Assets and Liabilities:
- Total Assets: $16,037,490
- Total Liabilities: $2,316,614
- Net Assets: $13,720,876
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST EARNED ON LOANS
Revenue
$2,129,236
STORAGE FEE INCOME
Revenue
$257,371
TICKET FEE INCOME
Revenue
$110,151
Organization Details
Founding Year
1894
Phone
(212) 685-0380Principal Officer
John T Higney
Main Address
346 PARK AVENUE SOUTH 2ND FL, NEW YORK, NY, 100101708
Website
www.providentloan.comNTEE Category
Code: W60 - Public benefit
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