Overview
What is Uncommon Lender Inc?
Uncommon Lender Inc is a New York-based nonprofit organization with a mission to support Uncommon Schools, Inc., a tax-exempt 501(c)3 entity, in its real estate and other activities. They accomplish this by providing subordinate debt and equity through various means, including loans, grants, loan participation purchases, and equity contributions. Their primary focus is to help Uncommon Schools, Inc. expand its initiatives, utilizing loans and grants as effective tools for growth. Since their activities are closely related, Uncommon Lender Inc plays a vital role in enabling Uncommon Schools, Inc. to thrive in the realm of education and beyond.
Official website here: www.uncommonschools.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, earning it a Two-Star out of Four Star rating.
Uncommon Lender Inc has received a 74% rating from Charity Navigator, indicating that while the organization shows some strengths in accountability and finance, there are areas for improvement. The organization benefits from a high percentage of independent board members, a solid audit and oversight committee, and no reported material diversion of assets. Furthermore, they have established policies for conflicts of interest, whistleblower protections, and document retention.
However, the nonprofit faces challenges reflected in its overall rating. Notably, the organization has a high liabilities to assets ratio of 77.03%, which raises concerns about financial stability. Additionally, the absence of its tax form on its website detracts from transparency, affecting the overall assessment of its financial health and operational practices. Despite these limitations, the program expense ratio stands out positively, indicating effective allocation of funds towards its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Uncommon Lender Inc legitimate?
Uncommon Lender Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Uncommon Lender 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.
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
Official website here: www.uncommonschools.org
What is the mission statement of Uncommon Lender Inc?
Uncommon Lender Inc supports Uncommon Schools, a tax-exempt organization, by providing subordinate debt and equity for its real estate and other activities. This is achieved through loans, grants, loan participation purchases, and equity contributions. The primary goal is to help Uncommon Schools carry out its endeavors by managing expenses related to their real estate ventures. By doing so, Uncommon Lender contributes to the overall mission of Uncommon Schools and enhances their ability to execute their projects effectively.
Official website here: www.uncommonschools.org
Who is the CEO of Uncommon Lender Inc?
Brett Peiser is the Ceo/Director of Uncommon Lender Inc. The CEO's salary of Uncommon Lender Inc is $0 and their total compensation is $378,123.
Official website here: www.uncommonschools.org
What is the revenue of Uncommon Lender Inc?
Uncommon Lender Inc's revenue in 2022 was $12,168,791.
Official website here: www.uncommonschools.org
Who are the executives of Uncommon Lender Inc and what are their salaries?
There 3 volunteers at Uncommon Lender Inc.
Here are 4 key members and their salaries (Uncommon Lender Inc's CEO's salary is $0 and their total compensation is $378,123):
- Compensation: $0
- Related: $354,168
- Other: $23,955
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.uncommonschools.org
Where can I find the form 990 for Uncommon Lender Inc?
Uncommon Lender Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.uncommonschools.org
Learn more at the official website: www.uncommonschools.org
Mission Statement of Uncommon Lender Inc
Uncommon Lender Inc is a dedicated organization that plays a crucial role in supporting Uncommon Schools, Inc., a related tax-exempt entity under Internal Revenue Code section 501(c)3. Through various funding methods, Uncommon Lender extends a helping hand to Uncommon Schools in their real estate and other ventures.
The mission of Uncommon Lender Inc is multifaceted. It involves providing subordinate debt and equity to Uncommon Schools, Inc., primarily through loans, grants, loan participation purchases, and equity contributions. In essence, Uncommon Lender functions as a financial partner, enabling Uncommon Schools to carry out their initiatives more effectively.
By contributing funds towards Uncommon Schools' real estate activities, Uncommon Lender plays a significant role in the organization's growth and development. This support allows Uncommon Schools to expand their reach and make a more substantial impact on the communities they serve. The partnership between Uncommon Lender and Uncommon Schools is a testament to their shared commitment to creating positive change.
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Impact
October, 2024
Uncommon Lender Inc plays a significant role in advancing the mission of Uncommon Schools by providing essential financial support for its real estate and operational activities. By offering subordinate debt and equity through loans, grants, loan participation purchases, and equity contributions, the organization facilitates the development and maintenance of educational facilities that are vital for high-quality education.
The impact of Uncommon Lender Inc is felt through the enhancement of educational environments, enabling Uncommon Schools to expand their reach and improve the resources available to students. This financial backing allows for strategic investments in infrastructure that prioritize the needs of students and educators, ultimately aiming to elevate academic outcomes. By leveraging financial mechanisms to support educational initiatives, Uncommon Lender Inc contributes to building a robust framework for sustainable educational practices and school growth within the community.
This information is meant to be a general summary of Uncommon Lender Inc. 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.
- Program Service Revenue: $10,683,713
- Gross Receipts: $12,168,791
Assets and Liabilities:
- Total Assets: $174,239,408
- Total Liabilities: $134,980,495
- Net Assets: $39,258,913
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$10,683,713
Organization Details
Founding Year
2008
Phone
(646) 774-2150Principal Officer
Brett Peiser
Main Address
55 BROAD STREET 3RD FLOOR, NEW YORK, NY, 10004
Website
www.uncommonschools.orgNTEE Category
Code: B82 - Education
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