Overview
What is Mercy Community Capital?
Mercy Community Capital is a nonprofit organization headquartered in Denver, Colorado. Their primary mission is to provide below-market loans to support housing development activities that benefit low-income residents. They operate in 45 states and Puerto Rico, engaging in underwriting, credit review, cash and investment management, and loan servicing for a diverse portfolio of loans. Certified as a Community Development Financial Institution by the U.S. Treasury Department, Mercy Community Capital aims to finance affordable housing developments where conventional financing is not feasible or affordable. They assist developers and nonprofit organizations by ensuring that the properties will serve a resident basis, with the family's average medium income not exceeding 80% of the area medium income. Their loan recipients include low-income families, the working poor, seniors, farm workers, formerly homeless individuals, and people with special needs, supporting the development of single- and multi-family homes for rental and homeownership.
Official website here: www.mercycommunitycapital.org
Is Mercy Community Capital legitimate?
Mercy Community Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mercy Community 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.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,114,078
For more financial information, click here
Official website here: www.mercycommunitycapital.org
What is the mission statement of Mercy Community Capital?
Mercy Community Capital's mission is to provide below-market loans to support affordable housing developments, especially when conventional financing is not an option or is unaffordable. They serve as a financial and technical resource for developers and nonprofit organizations, with a stipulation that the property must serve a resident basis and the family's average medium income cannot exceed 80% of the area medium income. Their loans have aided in the development of single- and multi-family homes for rental and homeownership, benefiting a diverse range of individuals, including low-income families, the working poor, seniors, farm workers, formerly homeless individuals, and people with special needs. Mercy Community Capital is recognized as a Community Development Financial Institution by the U.S. Treasury Department.
Official website here: www.mercycommunitycapital.org
Who is the CEO of Mercy Community Capital?
Stefanie Joy is the Chair/Director of Mercy Community Capital.
Official website here: www.mercycommunitycapital.org
What is the revenue of Mercy Community Capital?
Mercy Community Capital's revenue in 2022 was $5,958,832.
Official website here: www.mercycommunitycapital.org
Who are the executives of Mercy Community Capital and what are their salaries?
- Debra Walsh (Vice President)
- Jason Battista (President)
- Joe Rosenblum (Assistant Secretary)
- Jaya Johnson (Director)
- Stefanie Joy (Vice President)
- Brian Sample (Vice President)
- Theresa Gallegos (Treasurer)
- Laurie Glasgow-Gill (Secretary)
- Jaime Gomez (Chair/Director)
- Noni Ramos (Director)
- Sr Corinne Florek (Director)
- Tim Martin (Director)
- Tom Byers (Director)
- Yvonne Camacho (Vice Chair/Director)
Official website here: www.mercycommunitycapital.org
Where can I find the form 990 for Mercy Community Capital?
The Mercy Community Capital’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.mercycommunitycapital.org
Learn more at the official website: www.mercycommunitycapital.org
Mission Statement of Mercy Community Capital
Mercy Community Capital, a certified Community Development Financial Institution, is dedicated to providing below-market loans to support the development of affordable housing. When conventional financing is unattainable or too expensive, developers and nonprofit organizations turn to Mercy Community Capital for financial assistance. The organization's mission is to ensure that properties developed with their loans serve a resident basis, with the average median income of the families living there not exceeding 80% of the area's median income.
Mercy Community Capital has played a significant role in financing the development of single- and multi-family homes for both rental and homeownership. These developments cater to a diverse range of individuals and families, including low-income families, the working poor, seniors, farmworkers, formerly homeless individuals, and people with special needs. By providing affordable housing, Mercy Community Capital contributes to the betterment of communities and ensures that everyone has access to a place to call home, regardless of their financial situation.
Impact
This information is meant to be a general summary of Mercy Community Capital. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Mercy Community Capital's impact can be seen in its provision of below-market loans to support affordable housing developments for low-income residents across 45 states and Puerto Rico. By offering financial and technical resources, Mercy Community Capital helps developers and organizations create housing opportunities for a diverse range of individuals, including low-income families, the working poor, seniors, farm workers, formerly homeless individuals, and people with special needs. Through its lending activities, Mercy Community Capital plays a crucial role in ensuring access to safe and affordable housing for those who would otherwise struggle to find suitable accommodations.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INTEREST
Revenue
$5,089,581
LOAN ORIGINATION & SERVICE FEES
Revenue
$172,767
RECOVERY OF BAD DEBT
Revenue
$161,385
OTHER REVENUE
Revenue
$18,710
PARTNERSHIP INVESTMENT INCOME
Revenue
$12,500
Organization Details
Founding Year
2000
Phone
(303) 830-3300
Principal Officer
Stefanie Joy
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 80202
NTEE Category
Code: L20 - Housing
If you are a representative of Mercy Community Capital 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.