Overview
What is Community Loan Center Of Great Houston?
The Community Loan Center of Great Houston is a nonprofit organization that extends small dollar loans to individuals who struggle with gaining access to credit. Their primary mission is to assist those in financial need, providing them with the necessary financial aid to overcome their challenges. The organization's activities are centered around this goal, offering small loans to aid individuals who may have limited credit options. The specifics of their operations, such as their employee count or location, are not provided in the given information.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60%, earning a Two-Star out of Four Star rating. The Community Loan Center of Greater Houston has demonstrated a moderate level of accountability and financial management but has several areas for improvement. The organization scored 60% overall, reflecting weaknesses particularly in the governance structure, as there are no independent board members.
Strengths of the organization include a strong program expense ratio, indicating that a significant majority of its expenses (82.15%) are directed towards program services. The center also has policies in place for conflict of interest and document retention, suggesting some level of compliance with best practices. However, the absence of an independent board and missing essential documents on its website raises concerns about transparency and governance.
Limitations noted in the rating include a complete lack of independent board members, which can lead to potential conflicts of interest and detracts from the board’s effectiveness. Additionally, the organization has not posted its tax form or website on its tax filings, which limits public access to important information about its operations. These factors contribute to the lower rating and suggest that stakeholders should be cautious when assessing the organization's governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Community Loan Center Of Great Houston legitimate?
Community Loan Center Of Great Houston is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Loan Center Of Great Houston 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
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What is the mission statement of Community Loan Center Of Great Houston?
The Community Loan Center of Great Houston's mission is to extend small dollar loans to individuals who encounter difficulties in accessing credit. By doing so, the organization aims to assist these individuals in overcoming financial obstacles and improving their financial situations. The center operates with the goal of promoting financial inclusion and stability for its clientele. It provides these loans in a responsible manner, ensuring that borrowers can repay their debts without undue hardship. The center's mission is rooted in the belief that everyone deserves equal access to credit opportunities, regardless of their financial history or current circumstances.
What is the revenue of Community Loan Center Of Great Houston?
Community Loan Center Of Great Houston's revenue in 2024 was $191,018.
Who are the executives of Community Loan Center Of Great Houston and what are their salaries?
Here are 5 key members and their salaries:
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- Related: $132,000
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Where can I find the form 990 for Community Loan Center Of Great Houston?
Community Loan Center Of Great Houston's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Community Loan Center Of Great Houston
The Community Loan Center of Great Houston is dedicated to providing small dollar loans to individuals who encounter difficulties in accessing credit. This nonprofit organization serves as a financial lifeline for those who may have been overlooked or denied traditional loan options, aiming to assist them in navigating through financial challenges. By extending accessible credit, the Community Loan Center of Great Houston empowers individuals to meet their financial needs, promoting financial stability and independence.
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Impact
October, 2024
Community Loan Center of Greater Houston provides small dollar loans to individuals facing challenges in accessing credit. This initiative significantly impacts the local community by offering an alternative financial resource for those who may be underserved by traditional banking institutions. By enabling access to credit, it helps individuals manage urgent financial needs, reduce reliance on high-interest payday loans, and improve their overall financial health. This support fosters economic stability among borrowers, allowing them to cover essential expenses and avoid deeper debt cycles, ultimately contributing to broader community improvement in Houston.
This information is meant to be a general summary of Community Loan Center Of Great Houston. 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 2024.
- Investment Income: $360
- Program Service Revenue: $190,658
- Gross Receipts: $191,018
Assets and Liabilities:
- Total Assets: $866,498
- Total Liabilities: $512,500
- Net Assets: $353,998
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOANS TO INDIVIDUAL
Revenue
$190,658
Organization Details
Principal Officer
Deon Warner
NTEE Category
Code: S30 - Community improvement
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