Overview
What is The James W Denmark Loan Fund Inc?
The James W Denmark Loan Fund Inc, established in 1887, is a nonprofit organization based in Winston-Salem, North Carolina. Its primary mission is to offer financial aid in the form of loans to students enrolled at Wake Forest University. In the current fiscal year, the organization provided loans to five students, totaling 9,075 dollars. The average loan amount typically ranges around 1,815 dollars. The student's requirements are evaluated by Wake Forest University's Financial Aid Office, and the required funds are then transferred to the university. The graduated students are responsible for repaying the loans directly to the organization. Since its inception, The James W Denmark Loan Fund Inc has been dedicated to supporting the educational journey of Wake Forest University students.
Is The James W Denmark Loan Fund Inc legitimate?
The James W Denmark Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The James W Denmark Loan Fund 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: $0
For more financial information, click here
What is the mission statement of The James W Denmark Loan Fund Inc?
The James W Denmark Loan Fund Inc, established in 1887, has been providing financial aid to students at Wake Forest University in the form of loans. Its primary mission is to support the educational pursuits of these students by offering them necessary funds. In the current fiscal year, the organization provided loans to five students, totaling 9,075 dollars, with an average loan amount of approximately 1,815 dollars. The student needs are analyzed by Wake Forest University's Financial Aid Office, and the required funds are provided to the university. Repayments are made directly to the organization by the graduated students.
Who is the CEO of The James W Denmark Loan Fund Inc?
J Reid Morgan is the Director / P of The James W Denmark Loan Fund Inc.
What is the revenue of The James W Denmark Loan Fund Inc?
The James W Denmark Loan Fund Inc's revenue in 2022 was $108,216.
Who are the executives of The James W Denmark Loan Fund Inc and what are their salaries?
There 15 volunteers at The James W Denmark Loan Fund Inc.
Here are 16 key members and their salaries:
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- Related: $2,133,852
- Other: $209,297
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- Related: $1,218,034
- Other: $102,296
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- Related: $239,551
- Other: $27,124
- Compensation: $0
- Related: $114,640
- Other: $28,435
- Compensation: $0
- Related: $888
- Other: $17,516
- Compensation: $0
- Related: $14,000
- Other: $2,280
- Compensation: $0
- Related: $13,504
- Other: $2,453
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- Other: $0
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- Related: $0
- Other: $0
Where can I find the form 990 for The James W Denmark Loan Fund Inc?
The James W Denmark Loan Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The James W Denmark Loan Fund Inc
The James W Denmark Loan Fund Inc, established in 1887, has been a dedicated provider of financial assistance to students at Wake Forest University. Its mission, in essence, is to extend loans to these students in need of financial support. The organization's primary role is to alleviate financial pressures faced by students, allowing them to focus on their academic pursuits. In the current fiscal year, The James W Denmark Loan Fund Inc provided loans to five students, amounting to a total of $9,075. With an average loan size of approximately $1,815, the fund plays a significant role in helping students meet their financial obligations. The students' needs are initially analyzed by the Wake Forest University Financial Aid Office, and the required funds are subsequently allocated to the institution. Repayments are then made directly to the organization by the graduated students.
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Impact
October, 2024
The James W Denmark Loan Fund Inc has made a significant impact on the educational journeys of students at Wake Forest University since its establishment in 1887. By offering financial assistance in the form of loans, it addresses the financial barriers that students may face while pursuing their studies.
In the current fiscal year, the fund provided loans to five students, totaling $9,075, with each loan averaging around $1,815. This targeted financial support is crucial in aiding students who may otherwise struggle to meet their education-related expenses. The needs of these students are carefully assessed by the Wake Forest University Financial Aid Office to ensure that the loans are effectively allocated based on individual circumstances.
Moreover, the repayment system established allows graduated students to contribute back to the fund, creating a cycle of support for future generations of students. This sustainable model not only assists current students but also reinforces a culture of giving back within the university community, ensuring the longevity and effectiveness of the support system established by The James W Denmark Loan Fund Inc.
This information is meant to be a general summary of The James W Denmark Loan Fund 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.
- Investment Income: $66,498
- Program Service Revenue: $34,092
- Gross Receipts: $525,708
Assets and Liabilities:
- Total Assets: $4,883,730
- Total Liabilities: $1,600
- Net Assets: $4,882,130
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME FROM STUDENT LOANS
Revenue
$34,092
Organization Details
Founding Year
1887
Phone
(336) 758-4240Principal Officer
J Reid Morgan
Main Address
PO BOX 7354, WINSTONSALEM, NC, 27109
NTEE Category
Code: T90Z - Philanthropy
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