Overview
What is Transform Capital?
Transform Capital is a nonprofit organization situated in Libertyville, Illinois, with a focus on empowering deserving families in underinvested local communities. They raise tax-deductible funding and deploy it into market-rate or below-market-rate mortgage and business loans. The organization sources its clients through referrals from existing community-serving organizations, starting with North Chicago, Illinois. Transform Capital maintains low operating costs to recycle capital for future clients, and as clients repay loans, they become part of a cycle of "paying it forward" to make homeownership possible for others. The organization is currently exploring expanding its mission approach to other communities across the nation.
Official website here: www.tccommunity.org
Is Transform Capital legitimate?
Transform Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Transform Capital 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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Official website here: www.tccommunity.org
What is the mission statement of Transform Capital?
Transform Capital is a lending platform that raises tax-deductible funding and invests it into market-rate or below-market-rate mortgage and business loans for deserving families in underinvested communities. The platform's mission is to support these families, primarily sourced through referrals from existing community organizations, by providing them with affordable financing options. Transform Capital operates with a goal to minimize operating costs, allowing it to recycle capital for future clients. As loans are repaid, the repaying families become part of a 'paying it forward' initiative, making homeownership possible for another neighbor. The organization is currently focused on North Chicago, Illinois, but is also in conversations to extend its mission approach to other communities nationwide.
Official website here: www.tccommunity.org
Who is the CEO of Transform Capital?
Mark Chassman is the Chair of Transform Capital.
Official website here: www.tccommunity.org
What is the revenue of Transform Capital?
Transform Capital's revenue in 2022 was $326,845.
Official website here: www.tccommunity.org
Who are the executives of Transform Capital and what are their salaries?
Here are 4 key members and their salaries:
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Official website here: www.tccommunity.org
Where can I find the form 990 for Transform Capital?
Transform Capital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tccommunity.org
Learn more at the official website: www.tccommunity.org
Mission Statement of Transform Capital
Transform Capital is a lending platform that raises tax-deductible funding and invests it into market-rate or below market-rate mortgage and business loans for deserving families in underinvested local communities. The organization's mission is to support families in need, primarily sourcing its clients through referrals from existing organizations that have a long-standing presence in the community. Initially focusing on North Chicago, Illinois, Transform Capital aims to limit operating costs at every turn, recycling capital to help another client once their loans are paid back. This 'paying it forward' approach is integral to making home ownership possible for another neighbor in the community. The organization is currently engaging in conversations to extend its mission approach to other communities across the nation.
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Impact
October, 2024
Transform Capital has a significant impact on dis-invested local communities, particularly in North Chicago, Illinois. By providing market-rate or below-market-rate mortgage and business loans, the organization empowers deserving families who have traditionally faced barriers to financial assistance. This approach not only facilitates home ownership but also supports entrepreneurship within these communities.
The capital raised through tax-deductible funding is strategically invested to ensure that as clients repay their loans, they contribute to a cycle of financial renewal—essentially "paying it forward" for future borrowers. This model fosters a sense of community solidarity and reinforces the idea that financial support can lead to greater stability and opportunity.
Through partnerships and referrals from established organizations already serving the community, Transform Capital efficiently identifies families in need, ensuring that every client is supported with dignity and care. By maintaining low operating costs, the organization maximizes its ability to recycle funds, further amplifying its reach and effectiveness.
Transform Capital is not only addressing immediate financial needs; it is actively engaging in conversations to expand its impact to other communities across the nation. This forward-thinking approach signifies a commitment to long-term community improvement and sustainable development.
This information is meant to be a general summary of Transform Capital. 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: $20,230
- Gross Receipts: $326,845
Assets and Liabilities:
- Total Assets: $930,555
- Total Liabilities: $239,179
- Net Assets: $691,376
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST AND FEE
Revenue
$20,230
Organization Details
Founding Year
2020
Phone
(312) 307-8774Principal Officer
Mark Chassman
Main Address
31110 N REIGATE LANE, LIBERTYVILLE, IL, 60048
Website
www.tccommunity.orgNTEE Category
Code: S31 - Community improvement
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