Overview
What is The University Of California Home Loan Program Corporation?
The University of California Home Loan Program Corporation (UCHLP) is a nonprofit organization based in Oakland, California, responsible for administering the mortgage lending activities of the University of California's housing assistance program. The corporation's mission is to provide mortgage loan assistance in support of faculty and senior managers' recruitment and retention. Daily operations are carried out by employees of the University of California's Office of Loan Programs under a services agreement between UCHLP and the Regents of the University of California. In the fiscal year ending June 30, 2022, 104 first deed mortgages were funded with an aggregate dollar amount of $92.9 million, while 24 second trust deed mortgages received funding totaling $953,500. The primary expense associated with the corporation is interest expense on advances from the University.
Official website here: www.ucop.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The University Of California Home Loan Program Corporation received a Two-Star out of Four Star rating from Charity Navigator, scoring 66% overall. This rating indicates that while the organization has certain strengths in its financial oversight and governance policies, such as having a conflict of interest policy and a whistleblower policy in place, it struggles significantly with board independence and financial health.
A notable concern is the complete lack of independent board members, which can affect accountability and transparency. Furthermore, the organization has a high liabilities to assets ratio of 95.80%, suggesting potential financial instability. However, it demonstrates a strong program expense ratio of 99.66%, indicating that most of its resources are directed towards its programs.
While the organization has many policies listed and follows good practices in some areas, the lack of independent oversight and high liabilities raise red flags. Addressing these areas could help improve its overall rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The University Of California Home Loan Program Corporation legitimate?
The University Of California Home Loan Program Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The University Of California Home Loan Program 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: $0
For more financial information, click here
Official website here: www.ucop.edu
What is the mission statement of The University Of California Home Loan Program Corporation?
The University of California Home Loan Program Corporation carries out the loan origination functions for the University of California's housing assistance program. The program's mission is to offer mortgage loan assistance, aiding in the recruitment and retention of faculty and senior managers within the university. The corporation administers the mortgage lending activities, with employees of the University of California's Office of Loan Programs executing the daily operations under a services agreement between the corporation and the university regulators. In the fiscal year ending June 30, 2022, 104 first deed mortgages were funded with a combined sum of $92.9 million, while 24 second trust deed mortgages were funded with an aggregate amount of $953,500. The primary expense for the corporation primarily consists of interest expenses on advances from the university.
Official website here: www.ucop.edu
What is the revenue of The University Of California Home Loan Program Corporation?
The University Of California Home Loan Program Corporation's revenue in 2024 was $38,906,720.
Official website here: www.ucop.edu
Who are the executives of The University Of California Home Loan Program Corporation and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $983,546
- Other: $62,464
- Compensation: $0
- Related: $549,789
- Other: $44,994
- Compensation: $0
- Related: $542,701
- Other: $97,274
- Compensation: $0
- Related: $534,844
- Other: $105,058
- Compensation: $0
- Related: $467,915
- Other: $92,038
- Compensation: $0
- Related: $164,624
- Other: $29,430
- Compensation: $0
- Related: $1,960,101
- Other: $117,969
Official website here: www.ucop.edu
Where can I find the form 990 for The University Of California Home Loan Program Corporation?
The University Of California Home Loan Program Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.ucop.edu
Learn more at the official website: www.ucop.edu
Mission Statement of The University Of California Home Loan Program Corporation
The University of California Home Loan Program Corporation (UCHLP) plays a crucial role in supporting the University of California's housing assistance program by performing the loan origination functions. This nonprofit organization is dedicated to furthering the mission of the University of California's housing program, which aims to provide mortgage loan assistance in order to facilitate the recruitment and retention of faculty and senior managers.
In essence, UCHLP acts as an intermediary in administering the mortgage lending activities of the University of California. The daily operations of UCHLP are carried out by employees of the University of California's Office of Loan Programs, as outlined in a services agreement between UCHLP and the Regents of the University of California. During the fiscal year ending June 30, 2022, UCHLP funded 104 first deed mortgages with an aggregate dollar amount of $92.9 million and 24 second trust deed mortgages with an aggregate dollar amount of $953,500. The primary expense associated with the corporation is the interest expense on advances from the University. By providing mortgage loan assistance, the University of California Home Loan Program Corporation helps attract and retain top talent, ensuring the continued success and excellence of the university.
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Impact
October, 2024
The University of California Home Loan Program Corporation plays a crucial role in facilitating mortgage assistance for faculty and senior managers at the University of California. By offering financial support through its housing assistance program, it directly influences the recruitment and retention of qualified professionals within the university system.
In the fiscal year ending June 30, 2022, the Corporation funded 104 first deed mortgages totaling approximately $92.9 million, alongside 24 second trust deed mortgages amounting to $953,500. These figures demonstrate its significant impact on enhancing the ability of faculty and senior managers to secure housing, ultimately contributing to a stable and well-supported academic environment.
The organization operates through a partnership with the Office of Loan Programs at the University of California, ensuring that its lending activities are efficiently managed. By providing essential mortgage loan assistance, the Corporation helps create a conducive atmosphere for educational excellence and institutional stability, which are key to fulfilling the university's mission.
This information is meant to be a general summary of The University Of California Home Loan Program 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 2024.
- Program Service Revenue: $38,580,030
- Gross Receipts: $38,906,720
Assets and Liabilities:
- Total Assets: $734,401,469
- Total Liabilities: $692,041,921
- Net Assets: $42,359,548
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST FROM LOANS
Revenue
$35,711,478
ADMINISTRATIVE FEE
Revenue
$2,868,552
Organization Details
Founding Year
2014
Principal Officer
Nathan Brostrom
Website
www.ucop.eduNTEE Category
Code: B19 - Education
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