Overview
What is Neighborhood Capital Funding Inc?
Neighborhood Capital Funding Inc, also known as Affiliate Mortgage Services Inc, is a nonprofit organization based in Lansing, Michigan. Their primary mission is to offer affordable mortgage loan origination and servicing to Habitat for Humanity affiliates across Michigan and 24 other states. This nonprofit originates, processes, closes, and services mortgages for homebuyers of Habitat affiliate homes. These loans are typically below-market-rate and primarily cater to low-income individuals purchasing homes built by Habitat for Humanity. During fiscal year 23, Affiliate Mortgage Services Inc closed 17 Habitat for Humanity mortgages and managed a servicing portfolio of 7,713 Habitat loans. Their operations aim to generate revenue for Habitat affiliates through principal-only income and secondary market sales, enabling them to produce more affordable housing. With a workforce of 12 individuals, Neighborhood Capital Funding Inc plays a significant role in promoting affordable housing opportunities for low-income families.
Official website here: www.affiliatemtg.org
Is Neighborhood Capital Funding Inc legitimate?
Neighborhood Capital Funding Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Capital Funding 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.
Here are some key statistics you may want to consider:
Executive Compensation: $336,214
Professional Fundraising Fees: $0
Other Salaries and Wages: $359,317
For more financial information, click here
Official website here: www.affiliatemtg.org
What is the mission statement of Neighborhood Capital Funding Inc?
Neighborhood Capital Funding Inc's primary mission is to offer more affordable mortgage loan origination and servicing to Habitat for Humanity affiliates in multiple states, including Michigan. Their primary objective is to provide below-market-rate mortgage loans to primarily low-income homebuyers who purchase homes built by Habitat for Humanity. By originating, processing, closing, and servicing mortgages for Habitat affiliate homebuyers, Neighborhood Capital Funding generates revenue for the affiliates in the form of principal-only income. The affiliates can also sell these mortgages to investors in the secondary market, thereby gaining access to additional capital to construct more homes. During the fiscal year 23, Neighborhood Capital Funding closed 17 Habitat for Humanity mortgages and managed a servicing portfolio of 7,713 Habitat loans.
Official website here: www.affiliatemtg.org
Who is the CEO of Neighborhood Capital Funding Inc?
Daniel Lynch is the Chair of Neighborhood Capital Funding Inc. The CEO's salary of Neighborhood Capital Funding Inc is $180,178 and their total compensation is $193,595.
Official website here: www.affiliatemtg.org
What is the revenue of Neighborhood Capital Funding Inc?
Neighborhood Capital Funding Inc's revenue in 2023 was $1,635,265.
Official website here: www.affiliatemtg.org
Who are the executives of Neighborhood Capital Funding Inc and what are their salaries?
The average compensation at Neighborhood Capital Funding Inc during 2023 was $57,961. There are 12 employees and 9 volunteers at Neighborhood Capital Funding Inc.
Here are 11 key members and their salaries (Neighborhood Capital Funding Inc's CEO's salary is $180,178 and their total compensation is $193,595):
- Daniel Lynch (Ceo) [Trustee/Director]
- Catherine Overway (Coo)
- Eric Hanna (Chair) [Trustee/Director]
- Adam Fishkind (Vice Chair) [Trustee/Director]
- Katey Forth (Secretary) [Trustee/Director]
- Jeff Hanson (Treasurer) [Trustee/Director]
- Nancy Pellegrini (Director)
- Gary Ladue (Director)
- Don Wilkinson (Director)
- Daniel Page-Wood (Director)
- John Williams (Director)
Official website here: www.affiliatemtg.org
Where can I find the form 990 for Neighborhood Capital Funding Inc?
The Neighborhood Capital Funding Inc’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.affiliatemtg.org
Learn more at the official website: www.affiliatemtg.org
Mission Statement of Neighborhood Capital Funding Inc
Neighborhood Capital Funding Inc, also known as Affiliate Mortgage Services, is dedicated to providing affordable mortgage loan origination and servicing to Habitat for Humanity affiliates in Michigan and 24 other states. Their primary mission is to offer below-market-rate mortgage loans to primarily low-income individuals who are purchasing homes built by Habitat for Humanity. By originating, processing, closing, and servicing mortgages for homebuyers of Habitat affiliate homes, Neighborhood Capital Funding Inc generates revenue for the affiliates in the form of principal-only income. The affiliates may also choose to sell these mortgages to investors in the secondary market, granting them access to additional capital to construct more homes. In fiscal year 23, Affiliate Mortgage Services closed 17 Habitat for Humanity mortgages and ended the year with a servicing portfolio comprising 7,713 Habitat loans.
Impact
This information is meant to be a general summary of Neighborhood Capital Funding Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Neighborhood Capital Funding Inc's impact lies in providing more affordable loan origination and servicing to Habitat for Humanity affiliates in Michigan and 24 other states. By offering below-market-rate mortgage loans to primarily low-income individuals purchasing homes built by Habitat for Humanity, Neighborhood Capital Funding Inc plays a crucial role in facilitating homeownership for those in need. Through their activities, they enable Habitat affiliates to generate revenue through principal-only income or by selling mortgages to investors in the secondary market, ultimately allowing for the production of more affordable homes. In fiscal year 23, Neighborhood Capital Funding Inc closed 17 Habitat for Humanity mortgages and managed a servicing portfolio of 7,713 Habitat loans, showcasing their significant contribution to affordable housing initiatives.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING INCOME
Revenue
$1,296,455
PROCESSING FEES
Revenue
$239,681
ORIGINATION INCOME
Revenue
$40,512
Organization Details
Founding Year
2007
Phone
(517) 485-1006
Principal Officer
Daniel Lynch
Main Address
618 S CREYTS RD SUITE C, LANSING, MI, 48917
Website
www.affiliatemtg.org
NTEE Category
Code: L192 - Housing
If you are a representative of Neighborhood Capital Funding Inc 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.