Overview
What is Nonprofit Mortgage?
Nonprofit Mortgage, established in Minneapolis, Minnesota, is a charitable organization dedicated to providing financial aid in the form of down payment assistance to underprivileged and disadvantaged customers. With a workforce of 15 individuals, the organization's mission is to make homeownership more accessible for those who may otherwise struggle to secure the necessary funds for a down payment. By offering this assistance, Nonprofit Mortgage aims to contribute to the betterment of the community and promote economic stability among its clientele.
Official website here: www.nonprofitmortgage.org
Is Nonprofit Mortgage legitimate?
Nonprofit Mortgage is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nonprofit Mortgage 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: $192,476
For more financial information, click here
Official website here: www.nonprofitmortgage.org
What is the mission statement of Nonprofit Mortgage?
Nonprofit Mortgage, as an organization, is dedicated to providing financial aid in the form of down payment assistance to individuals and families who are underserved and economically disadvantaged. Their mission is centered around empowering these groups to become homeowners and contribute to their communities. By offering such assistance, Nonprofit Mortgage aims to bridge the gap in homeownership opportunities and promote social equity. The organization's activities are primarily focused on this mission, striving to make homeownership a reality for those who may otherwise struggle to achieve it.
Official website here: www.nonprofitmortgage.org
What is the revenue of Nonprofit Mortgage?
Nonprofit Mortgage's revenue in 2024 was $396,981.
Official website here: www.nonprofitmortgage.org
Who are the executives of Nonprofit Mortgage and what are their salaries?
The average compensation at Nonprofit Mortgage during 2024 was $9,166. There are 21 employees at Nonprofit Mortgage.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.nonprofitmortgage.org
Where can I find the form 990 for Nonprofit Mortgage?
Nonprofit Mortgage's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.nonprofitmortgage.org
Learn more at the official website: www.nonprofitmortgage.org
Mission Statement of Nonprofit Mortgage
Nonprofit Mortgage, as its name suggests, is a non-profit organization with a mission to extend a helping hand to underserved and disadvantaged individuals. Their primary objective is to provide financial aid in the form of down payment assistance. This assistance is instrumental in making homeownership a reality for individuals who might otherwise be unable to afford it. By offering this assistance, Nonprofit Mortgage plays a crucial role in fostering stable living conditions for those who are most in need.
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Impact
October, 2024
Nonprofit Mortgage plays a crucial role in making homeownership accessible to underserved and disadvantaged individuals and families. By offering down payment assistance funds, it reduces one of the most significant barriers to purchasing a home. This support not only empowers individuals to invest in their future but also strengthens communities by fostering stability and encouraging growth.
Operating in Minneapolis, MN, Nonprofit Mortgage focuses on addressing the needs of those who traditionally face challenges in securing housing due to financial constraints. By focusing on these underserved groups, the organization helps create more equitable opportunities in the housing market, ultimately contributing to overall community development.
The assistance provided can lead to increased homeownership rates, which often correlate with improved quality of life, community ties, and economic benefits. Homeownership can also provide families with a sense of stability and security, positively impacting educational outcomes and health.
In summary, Nonprofit Mortgage's impact extends far beyond individual beneficiaries; it has the potential to transform communities by promoting housing equity and improving residents' overall well-being.
This information is meant to be a general summary of Nonprofit Mortgage. 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: $120
- Program Service Revenue: $347,861
- Gross Receipts: $396,981
Assets and Liabilities:
- Total Assets: $287,940
- Total Liabilities: $186,085
- Net Assets: $101,855
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Mortgage Assistance
Revenue
$347,861
Organization Details
Founding Year
2019
Principal Officer
Ronald Welbaum
Website
www.nonprofitmortgage.orgNTEE Category
Code: L80 - Housing
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