Overview
What is Pace Finance Corporation?
Pace Finance Corporation, based in Los Angeles, California, is a nonprofit organization dedicated to offering financial services and products to communities with lower and moderate income levels. Their primary function involves providing customized loans with fair and flexible terms, which can be utilized for various business necessities such as equipment purchases, working capital, and acquisitions. This organization's mission is to empower these communities by offering financial support, contributing to their growth and development.
Is Pace Finance Corporation legitimate?
Pace Finance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pace 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: $387,156
For more financial information, click here
What is the mission statement of Pace Finance Corporation?
Pace Finance Corporation's primary mission is centered around providing financial services and products to communities with low and moderate income levels. This mission is reflected in their activities, as they offer customized loans with fair and flexible terms for various business needs, such as equipment purchases, working capital, and acquisitions, aiming to support the growth and development of these communities.
What is the revenue of Pace Finance Corporation?
Pace Finance Corporation's revenue in 2023 was $1,408,934.
Who are the executives of Pace Finance Corporation and what are their salaries?
There 2 volunteers at Pace Finance Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $422,998
- Other: $10,365
- Compensation: $0
- Related: $245,633
- Other: $20,431
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Pace Finance Corporation?
Pace Finance Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Pace Finance Corporation
Pace Finance Corporation, as a mission-driven organization, is committed to providing financial services and products to low and moderate-income communities. Their primary objective is to offer customized loans with fair and flexible terms, which can be utilized for a plethora of business needs, such as equipment purchases, working capital, and acquisitions, through their Small Business Microloan Program. This program is designed to cater to the unique financial needs of these communities, enabling them to grow and thrive. By providing these essential financial services, Pace Finance Corporation plays a crucial role in supporting the economic development of low and moderate-income communities.
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Impact
October, 2024
Pace Finance Corporation plays a vital role in enhancing the economic stability of low and moderate-income communities in Los Angeles by providing accessible financial services and products. Through its Small Business Microloan Program, it offers customized loans tailored to meet the diverse needs of entrepreneurs, allowing them to secure funding for equipment purchases, working capital, and business acquisitions. This support not only promotes the growth of small businesses but also fosters community improvement by creating job opportunities and stimulating local economies. By offering fair and flexible loan terms, Pace Finance Corporation empowers individuals and businesses to thrive, thereby driving economic progress in underrepresented areas.
This information is meant to be a general summary of Pace 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 2023.
- Program Service Revenue: $466,577
- Gross Receipts: $1,408,934
Assets and Liabilities:
- Total Assets: $17,367,891
- Total Liabilities: $2,482,425
- Net Assets: $14,885,466
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MICROLOAN INTEREST INC
Revenue
$379,886
SERVICE FEE INCOME
Revenue
$86,691
Organization Details
Founding Year
2009
Principal Officer
Kerry N Doi
NTEE Category
Code: S31 - Community improvement
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