Overview
What is Tulsa Community Loan Fund Inc?
Tulsa Community Loan Fund Inc is a nonprofit organization situated in Tulsa, Oklahoma, specifically at 5330 E 31ST STREET 300. Their primary mission is to support affordable housing initiatives in the local community. They achieve this by lending and granting funds to other nonprofit organizations serving low-income individuals. These funds are utilized to provide assistance with down payments, closing costs, and foreclosure and eviction prevention. By doing so, the organization helps income-qualified families to purchase or rent homes and apartments, thereby ensuring they can maintain affordable living arrangements. The ultimate goal of Tulsa Community Loan Fund Inc is to contribute to community efforts aimed at increasing the availability of affordable housing in Tulsa County and its surrounding areas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Tulsa Community Loan Fund Inc has achieved a high rating of 94%, reflecting its strong performance in accountability and finance. This Four-Star rating is based solely on its accountability and finance score, indicating a robust level of transparency and responsible financial practices. The organization demonstrates exceptional governance with a fully independent board and no material diversions of assets.
The nonprofit also excels in its financial ratios, boasting an impressive program expense ratio of 99.93%, which suggests that nearly all of its funding goes directly to its programs. Additionally, the organization has established essential policies for conflict of interest, whistleblowing, and document retention, further underscoring its commitment to ethical operation and transparency.
While the data highlights many strengths, it primarily focuses on the financial aspects of the organization. Additional information about its programs and impact may enhance understanding of its overall effectiveness in serving the community. Nonetheless, the high accountability score assures stakeholders of its reliability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Tulsa Community Loan Fund Inc legitimate?
Tulsa Community Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tulsa Community 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.
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What is the mission statement of Tulsa Community Loan Fund Inc?
Tulsa Community Loan Fund Inc's mission is to support community efforts aimed at increasing the availability of affordable housing. This is achieved by lending or granting necessary funds to local organizations serving low-income individuals. The organization's activities include providing down payment and closing cost assistance, as well as foreclosure and eviction prevention aid. These supportive programs enable income-qualified families to purchase or rent affordable homes and apartments, thereby helping them maintain stable housing situations.
Who is the CEO of Tulsa Community Loan Fund Inc?
Phil Mccoy is the President of Tulsa Community Loan Fund Inc.
What is the revenue of Tulsa Community Loan Fund Inc?
Tulsa Community Loan Fund Inc's revenue in 2022 was $0.
Who are the executives of Tulsa Community Loan Fund Inc and what are their salaries?
There 19 volunteers at Tulsa Community Loan Fund Inc.
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- Related: $304,075
- Other: $26,270
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- Related: $180,229
- Other: $5,392
Where can I find the form 990 for Tulsa Community Loan Fund Inc?
Tulsa Community Loan Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tulsa Community Loan Fund Inc
Tulsa Community Loan Fund Inc is committed to supporting community initiatives aimed at increasing the availability of affordable housing. In pursuit of this mission, the organization lends or grants funds to local nonprofits serving low-income individuals. This financial assistance is instrumental in promoting affordable housing programs through initiatives such as down payment and closing cost assistance, and foreclosure and eviction prevention assistance. These supportive programs enable income-qualified families to purchase or rent affordable homes and apartments, thereby helping them maintain stable living situations. Tulsa Community Loan Fund Inc's mission is essential in ensuring that low-income families in various communities have access to affordable housing options.
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Impact
October, 2024
Tulsa Community Loan Fund Inc plays a vital role in promoting affordable housing in Tulsa County and the surrounding area. By lending and granting essential funds to local providers, the organization enhances access to affordable housing programs. This includes offering down payment and closing cost assistance, as well as foreclosure and eviction prevention support, which empowers income-qualified families to both purchase and maintain their homes or apartments. Through these initiatives, the organization directly contributes to a greater supply of affordable housing, helping to stabilize the community and improve the living conditions for low-income individuals.
This information is meant to be a general summary of Tulsa Community 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.
Assets and Liabilities:
- Total Assets: $26,377
- Total Liabilities: $1,065
- Net Assets: $25,312
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Organization Details
Founding Year
1993
Phone
(918) 382-3200Principal Officer
Phil Mccoy
Main Address
5330 E 31ST STREET 300, TULSA, OK, 74135
NTEE Category
Code: L20 - Housing
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