Overview
What is Share Credit Corporation?
Share Credit Corporation is a nonprofit organization, specifically based in St. Simons Island, Georgia (GA), with a postal address. Its primary mission is to provide a financing system for low-income cooperative housing members through share loans. Simultaneously, it offers investment opportunities for participating non-profit housing cooperatives. In 2022, Share Credit Corporation made new loans amounting to 125,200 for its members, and as of December 31, 2022, the total value of outstanding loans stood at 1,062,692.63. The organization also pays loan servicing fees to non-profit cooperative housing members, totaling 2,312 in the given period.
Is Share Credit Corporation legitimate?
Share Credit Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Share Credit 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:
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What is the mission statement of Share Credit Corporation?
The Share Credit Corporation's mission is to establish a system for providing share loans to low-income cooperative housing members. Additionally, it aims to offer investment opportunities for participating non-profit housing cooperatives. This initiative serves to support affordable housing for its members and provides a potential investment avenue for related non-profit organizations. In 2022, Share Credit Corporation disbursed new loans amounting to 125,200 and had an outstanding loan value of 1,062,692.63 as of December 31, 2022. The corporation also paid loan servicing fees to non-profit cooperative housing members in the amount of 2,312.
Who is the CEO of Share Credit Corporation?
Alex Miller is the Member of Share Credit Corporation.
What is the revenue of Share Credit Corporation?
Share Credit Corporation's revenue in 2022 was $83,240.
Who are the executives of Share Credit Corporation and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Share Credit Corporation?
Share Credit Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Share Credit Corporation
Share Credit Corporation, a non-profit organization, is dedicated to serving a specific purpose. Its mission is twofold: firstly, it aims to establish a system of share loan financing for low-income members of cooperative housing. This financial assistance enables these individuals to secure affordable housing options. Secondly, Share Credit Corporation provides investment opportunities for participating non-profit housing cooperatives. By doing so, it supports the growth and sustainability of these cooperatives, ensuring they can continue providing affordable housing solutions to their members. In 2022, the organization extended new loans worth 125,200 to cooperative members, and as of December 31, 2022, the total value of outstanding loans stood at 1,062,692.63. Additionally, loan servicing fees of 2,312 were paid to these non-profit housing cooperatives.
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Impact
October, 2024
Share Credit Corporation significantly impacts low-income cooperative housing members by facilitating access to share loan financing. In 2022, the organization issued new loans totaling $125,200, supporting members of cooperative housing by helping them secure financial resources necessary for their living arrangements. As of December 31, 2022, the total value of outstanding loans amounted to $1,062,692.63, ensuring that many families and individuals in the community have the means to invest in their homes and improve their quality of life.
Additionally, Share Credit Corporation creates investment opportunities for participating nonprofit housing cooperatives, contributing to the overall sustainability of the cooperative housing model. The organization also provides a revenue stream through loan servicing fees amounting to $2,312, which were distributed to nonprofit cooperative housing members, further enriching the community. Overall, Share Credit Corporation plays a crucial role in enhancing housing accessibility and financial opportunities for low-income residents in St. Simons Island, GA.
This information is meant to be a general summary of Share Credit 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 2022.
- Program Service Revenue: $83,240
- Gross Receipts: $83,240
Assets and Liabilities:
- Total Assets: $1,994,124
- Total Liabilities: $2,310
- Net Assets: $1,991,814
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$80,783
LOAN ORIGINATION FEES
Revenue
$2,457
Organization Details
Founding Year
1996
Phone
(404) 790-7400Principal Officer
Alex Miller
Main Address
PO BOX 20099, ST SIMONS ISLAND, GA, 31522
NTEE Category
Code: L82 - Housing
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