Overview
What is Cook Inlet Lending Center?
Cook Inlet Lending Center is a nonprofit organization situated in Anchorage, Alaska, with a specific focus on assisting low-income individuals, particularly those of American Indian/Alaska Native descent. The center offers lending products and services to help eligible applicants finance a home within the Cook Inlet region through mortgage down payments or second mortgages secured by a deed of trust on the property. Established to promote financial accessibility, Cook Inlet Lending Center operates with a team of 17 dedicated individuals, demonstrating its commitment to supporting local communities in the region.
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Star rating
Cook Inlet Lending Center has received a commendable Four-Star rating from Charity Navigator, with an overall score of 90%. This rating is based entirely on the organization's strong performance in the Accountability & Finance category. A high score reflects the center's commitment to transparency and effective financial management, which are critical for fostering trust among donors and beneficiaries.
The organization excels in several key areas, including having a fully independent board with all members meeting the criteria for independence. Additionally, it maintains rigorous audit and oversight practices, achieving full points in financial statements and reporting. The absence of material diversion of assets and well-structured conflict of interest and document retention policies further enhance its credibility and operational integrity.
While there are no noted limitations in the data, the exceptional scores in program expense ratio and liabilities to assets ratio illustrate Cook Inlet Lending Center's efficiency in spending on its programs compared to its financial obligations. This indicates a strong position to fulfill its mission effectively while maintaining good financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Cook Inlet Lending Center legitimate?
Cook Inlet Lending Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cook Inlet Lending Center 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: $1,179,855
For more financial information, click here
What is the mission statement of Cook Inlet Lending Center?
The Cook Inlet Lending Center is a non-profit organization established with the mission to promote and provide lending products and services to low-income individuals, primarily of American Indian/Alaska Native descent. This entity, located in an unspecified region, is dedicated to serving the Cook Inlet area specifically. Their primary activity involves offering a Home Buyer Loan Program. Through this program, eligible applicants receive assistance in financing a home within the Cook Inlet region. This assistance can take the form of a mortgage down payment or a secondary mortgage, secured by a deed of trust on the property. The center's goal is to make homeownership more accessible for those in need.
Who is the CEO of Cook Inlet Lending Center?
Clayton Bourne is the Chairman of Cook Inlet Lending Center.
What is the revenue of Cook Inlet Lending Center?
Cook Inlet Lending Center's revenue in 2022 was $2,983,120.
Who are the executives of Cook Inlet Lending Center and what are their salaries?
The average compensation at Cook Inlet Lending Center during 2022 was $69,403. There are 17 employees at Cook Inlet Lending Center.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $155,284
- Related: $0
- Other: $0
Where can I find the form 990 for Cook Inlet Lending Center?
Cook Inlet Lending Center's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cook Inlet Lending Center
Cook Inlet Lending Center is a nonprofit organization with a mission to promote and provide lending products and services to low-income individuals, primarily those of American Indian/Alaska Native descent. Established in the Cook Inlet region, this nonprofit entity aims to make homeownership more accessible for eligible applicants by offering mortgage down payment assistance or second mortgages secured by a deed of trust on the property. By doing so, Cook Inlet Lending Center seeks to contribute to the financial well-being of the communities it serves, providing an essential resource for those who might otherwise struggle to finance a home.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Cook Inlet Lending Center's impact lies in its provision of lending products and services to low-income individuals, particularly those of American Indian/Alaska Native descent in the Cook Inlet region. By offering programs such as the Home Buyer Loan Program, which assists eligible applicants in financing a home through mortgage down payment or second mortgage options, Cook Inlet Lending Center plays a crucial role in promoting homeownership and financial stability within the community. This organization's work directly contributes to improving the lives of individuals and families by giving them access to housing opportunities and financial resources that may have otherwise been out of reach.
This information is meant to be a general summary of Cook Inlet Lending Center. 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.
- Investment Income: $507,068
- Gross Receipts: $2,983,120
Assets and Liabilities:
- Total Assets: $29,170,429
- Total Liabilities: $13,802,383
- Net Assets: $15,368,046
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2001
Phone
(907) 793-3000Principal Officer
Clayton Bourne
Main Address
3600 SPENARD ROAD 100, ANCHORAGE, AK, 99503
NTEE Category
Code: S32 - Community improvement
If you are a representative of Cook Inlet Lending Center and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.