Overview
What is Acts Lending Inc?
Acts Lending Inc, based in Milwaukee, Wisconsin, is a nonprofit organization that specializes in providing purchase-rehab mortgage loans to families buying distressed properties in Milwaukee and Beloit, Wisconsin. As of December 31, 2022, loans have been issued to over 120 individuals/families, with less than 3% of the portfolio experiencing 90+ day delinquencies. Their mission, as stated, is empowerment through homeownership. Over the past decade, total write-offs and foreclosures have been minimal, with write-offs totaling less than $15,000.
Official website here: www.actshousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Acts Lending Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting strong accountability and financial health. The high overall score is primarily driven by a perfect 100% in the Accountability & Finance category, indicating a well-managed organization with transparent practices. Key strengths include a fully independent board and robust financial oversight, showcasing a commitment to ethical governance.
The organization demonstrates effective financial practices, with an impressive program expense ratio of 85.88%, signifying that a significant portion of funds is directed towards its programs rather than administrative costs. Additionally, all required policies, such as conflict of interest and whistleblower policies, are in place and documented, further enhancing its credibility.
While the organization maintains a solid liabilities to assets ratio at 55.03%, there is room for improvement in this area, as it falls slightly short of the maximum score. Nonetheless, the overall assessment indicates that Acts Lending Inc is a reliable nonprofit, effectively utilizing its resources to achieve its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Acts Lending Inc?
86% of reviewers on Facebook recommend Acts Lending Inc. Here is a summary of their reviews:
Many individuals appreciate the nonprofit's hands-on approach, highlighting it as a key strength in fostering positive experiences. Reviewers emphasize that the organization is proactive and genuinely supportive in addressing their needs.
Overall, it appears that those who have engaged with Acts Lending Inc feel positively about the organization’s commitment to its mission and the tangible assistance provided.
This AI summary has been generated from reviews found on Facebook.
Is Acts Lending Inc legitimate?
Acts Lending Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acts Lending 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: $181,345
For more financial information, click here
Official website here: www.actshousing.org
What is the mission statement of Acts Lending Inc?
Acts Lending Inc's mission is centered around empowerment through homeownership. The organization provides purchase-rehab mortgage loans to families, aiding them in purchasing distressed properties. Their mission is reflected in their mission statement, which emphasizes their commitment to this cause. As of December 31, 2022, they have outstanding loans to over 120 individuals/families, and their 90+ day delinquencies make up less than 3% of their portfolio. Additionally, they have experienced minimal write-offs and foreclosures over the past decade, with total write-offs amounting to less than $15,000. This indicates their success in helping families achieve homeownership and maintaining their loans responsibly.
Official website here: www.actshousing.org
Who is the CEO of Acts Lending Inc?
Joe Schlidt is the Chair of Acts Lending Inc. The CEO's salary of Acts Lending Inc is $0 and their total compensation is $214,331.
Official website here: www.actshousing.org
What is the revenue of Acts Lending Inc?
Acts Lending Inc's revenue in 2022 was $584,182.
Official website here: www.actshousing.org
Who are the executives of Acts Lending Inc and what are their salaries?
There 25 volunteers at Acts Lending Inc.
Here are 8 key members and their salaries (Acts Lending Inc's CEO's salary is $0 and their total compensation is $214,331):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $168,689
- Other: $45,642
- Compensation: $0
- Related: $114,640
- Other: $25,853
- Compensation: $0
- Related: $125,043
- Other: $30,284
Official website here: www.actshousing.org
Where can I find the form 990 for Acts Lending Inc?
Acts Lending Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.actshousing.org
Learn more at the official website: www.actshousing.org
Mission Statement of Acts Lending Inc
Acts Lending Inc, a nonprofit organization, is committed to empowerment through homeownership. Their mission is to provide purchase-rehab mortgage loans to families purchasing distressed properties. This mission is aimed at making homeownership accessible, thereby empowering individuals and families. As of December 31, 2022, Acts Lending Inc has extended loans to over 120 families in Wisconsin, with less than 3% of the portfolio facing 90+ day delinquencies. The organization's track record shows minimal write-offs, totaling less than $15,000 over the past decade, and no foreclosures in 2022. This suggests a responsible and effective approach to financing home purchases, further underscoring their commitment to empowerment through homeownership.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Acts Lending Inc's impact can be seen in their dedication to empowering individuals and families through homeownership. By providing purchase-rehab mortgage loans to those purchasing distressed properties in Milwaukee and Beloit, Wisconsin, Acts Lending Inc has positively influenced the lives of over 120 families. With a low delinquency rate of less than 3% and minimal write-offs over the past decade, Acts Lending Inc's commitment to its mission is evident in their successful support of affordable housing initiatives.
This information is meant to be a general summary of Acts Lending 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: $231,975
- Gross Receipts: $584,182
Assets and Liabilities:
- Total Assets: $7,584,619
- Total Liabilities: $4,174,438
- Net Assets: $3,410,181
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$228,244
PROGRAM SERVICE FEES
Revenue
$3,731
Organization Details
Founding Year
2013
Phone
(414) 933-2215Principal Officer
Joe Schlidt
Main Address
2414 W VLIET STREET, MILWAUKEE, WI, 53205
Website
www.actshousing.orgNTEE Category
Code: L30 - Housing
If you are a representative of Acts Lending 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.