Overview
What is Amish Mutual Mortgage Fund?
The Amish Mutual Mortgage Fund is a church-controlled organization based in Nappanee, Indiana. Old Order Amish members invest their funds into this nonprofit, which in turn, provides loans to other Old Order Amish members in need. The primary objective of this fund is to support the preservation of the Anabaptist religious beliefs, cultural traditions, and lifestyles within the Amish community, specifically for residential real estate loans. The fund serves as a means of collective support and investment within the Amish community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: One-Star out of Four Stars (52%)
The Amish Mutual Mortgage Fund has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its overall accountability and financial practices. The fund maintains a high level of independence among its board members, with 100% of them being independent. However, the organization’s lack of transparency is highlighted by missing financial statements and other critical policies, which are essential for fostering trust and credibility.
Despite its weaknesses in governance and financial reporting, the fund has shown a strong commitment to program expenses, with an impressive 94.59% program expense ratio. This suggests that the majority of its resources are directed towards its mission rather than administrative costs. Nevertheless, the organization's high liabilities relative to its assets (99.71%) raises further concerns about its financial stability.
In summary, while the Amish Mutual Mortgage Fund demonstrates some strengths in board independence and program efficiency, the overall lack of required financial documentation, missing governance policies, and high liabilities present serious limitations that potential donors and stakeholders should carefully consider.
This AI summary has been generated from information found on Charity Navigator.
Is Amish Mutual Mortgage Fund legitimate?
Amish Mutual Mortgage Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Amish Mutual Mortgage Fund 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: $51,291
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Amish Mutual Mortgage Fund?
The Amish Mutual Mortgage Fund serves as a church-controlled organization where Old Order Amish members invest funds. The primary purpose of this investment is to provide borrowing funds to other Old Order Amish church members, enabling them to maintain their Anabaptist religious beliefs, cultural traditions, and lifestyles. These funds are primarily used for residential real estate loans. The organization's mission is to support the preservation and continuation of the Old Order Amish community's unique lifestyle and values.
Who is the CEO of Amish Mutual Mortgage Fund?
Chris Kurtz is the Chairman of Amish Mutual Mortgage Fund.
What is the revenue of Amish Mutual Mortgage Fund?
Amish Mutual Mortgage Fund's revenue in 2022 was $2,543,950.
Who are the executives of Amish Mutual Mortgage Fund and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $7,729
- Related: $0
- Other: $0
- Compensation: $7,729
- Related: $0
- Other: $0
- Compensation: $7,729
- Related: $0
- Other: $0
- Compensation: $7,026
- Related: $0
- Other: $0
- Compensation: $7,026
- Related: $0
- Other: $0
- Compensation: $7,026
- Related: $0
- Other: $0
- Compensation: $7,026
- Related: $0
- Other: $0
Where can I find the form 990 for Amish Mutual Mortgage Fund?
Amish Mutual Mortgage Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Amish Mutual Mortgage Fund
Amish Mutual Mortgage Fund is a church-controlled organization that serves as a platform for Old Order Amish members to invest their funds. The primary purpose of this fund is to channel these investments to individuals within the Old Order Amish community who require borrowing funds. This financial assistance is intended to support the maintenance of the Anabaptist religious beliefs, cultural traditions, and lifestyles. By providing residential real estate loans, the Amish Mutual Mortgage Fund helps preserve the unique culture and way of life of its members.
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Impact
October, 2024
Amish Mutual Mortgage Fund plays a crucial role in supporting the financial needs of Old Order Amish members, fostering community resilience and cultural preservation. By channeling investment funds from members into residential real estate loans, it enables individuals and families to secure housing that aligns with their Anabaptist beliefs and ways of life.
The fund acts as a financial lifeline, ensuring that members can maintain their cultural traditions and lifestyles in a rapidly changing world. This mutual support system not only stabilizes the community economically but also reinforces the social fabric among its members, fostering a strong network of trust and shared values.
Through its operations in Nappanee, Indiana, Amish Mutual Mortgage Fund underscores the importance of community-driven financial solutions, highlighting the interplay between faith, culture, and economic support within the Old Order Amish community.
This information is meant to be a general summary of Amish Mutual Mortgage Fund. 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: $187,197
- Program Service Revenue: $2,356,743
- Gross Receipts: $2,543,950
Assets and Liabilities:
- Total Assets: $91,576,741
- Total Liabilities: $91,314,702
- Net Assets: $262,039
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT LOAN INTEREST
Revenue
$2,356,743
Organization Details
Founding Year
2013
Principal Officer
Chris Kurtz
Main Address
8216 W 1350 N, NAPPANEE, IN, 46550
NTEE Category
Code: X12 - Religion related
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