Overview
What is Hoc Lending Inc?
Hoc Lending Inc is a charitable organization situated in the community, dedicated to extending affordable financing solutions to families with limited means. The organization's mission revolves around providing low-cost financing, which covers various expenses. Beyond financial assistance, Hoc Lending Inc is committed to promoting neighborhood development and improvement.
Is Hoc Lending Inc legitimate?
Hoc Lending Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hoc Lending 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:
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Other Salaries and Wages: $109,760
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What is the mission statement of Hoc Lending Inc?
Hoc Lending Inc's mission is centered around providing affordable financing options to families with limited income. The organization achieves this through various programs, which cover the expenses associated with the financing process. Hoc Lending Inc is committed to contributing positively to its community, with a focus on neighborhood development and improvement. The company's activities reflect its dedication to supporting individuals who may not have access to traditional financial services.
What is the revenue of Hoc Lending Inc?
Hoc Lending Inc's revenue in 2023 was $171,497.
Who are the executives of Hoc Lending Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Hoc Lending Inc?
Hoc Lending Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Hoc Lending Inc
Hoc Lending Inc, as a mission-driven organization, is committed to providing affordable financing solutions to families with limited income. Their primary goal is to facilitate financial assistance for essential expenses, contributing to the betterment of communities and neighborhoods. By engaging in programs that cover the necessary costs for lending, Hoc Lending Inc aims to make a tangible impact on the lives of low-income families, fostering a sense of community development and improvement.
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Impact
October, 2024
Hoc Lending Inc significantly impacts low-income families in New Haven, CT, by offering affordable financing options that make housing more accessible. By focusing on low-cost loans, the organization alleviates financial burdens for families who might otherwise struggle with high-interest rates, allowing them to invest in stable housing and improve their living situations.
Their programs not only cover the costs associated with providing this financing but also emphasize community development and neighborhood enhancement. This commitment fosters a stronger, more supportive community environment where families can thrive, thereby contributing to the overall improvement of the local area. Hoc Lending Inc's mission directly addresses the housing needs of underprivileged families, enabling them to achieve financial stability and improved quality of life.
This information is meant to be a general summary of Hoc Lending 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 2023.
- Program Service Revenue: $46,497
- Gross Receipts: $171,497
Assets and Liabilities:
- Total Assets: $911,743
- Total Liabilities: $21,884
- Net Assets: $889,859
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INVESTMENT INCOME-MORTGAGES
Revenue
$33,055
MORTGAGE PROCESSING FEES
Revenue
$13,442
Organization Details
Founding Year
2017
Principal Officer
James Paley
NTEE Category
Code: L82 - Housing
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