Civic Intelligence

Fair Mortgage Collaborative

EIN 26-2626111 • 501(c)3

View Organization Page

5030 Broadway Ste 80310034
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.08x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

No filing with officer or executive compensation is available for this organization yet.

Asset Growth

18th percentile

-58%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$185,791

Down $259,790 (-58%) from 2012

Liabilities

Down

$14,593

Down $1,348 (-8.5%) from 2012

Net Assets

Down

$171,198

Down $258,442 (-60%) from 2012

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$413,524

Up $51,022 (+14%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset Growth18th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2011: $352,256Liabilities 2011: $13,023Net Assets 2011: $339,2332011Assets 2012: $445,581Liabilities 2012: $15,941Net Assets 2012: $429,6402012Assets 2013: $185,791Liabilities 2013: $14,593Net Assets 2013: $171,1982013

Highlighted filing

2013

Assets$185,791
Liabilities$14,593
Net Assets$171,198
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0Expenses 2011: $382,4422011Expenses 2012: $362,5022012Expenses 2013: $413,5242013

Highlighted filing

2013

Revenue-
Expenses$413,524
Net Income-
Open 2013 Filing

Filings

Most recent year

2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$185,791
Liabilities
$14,593
Net assets
$171,198
Revenue
-
Expenses
$413,524
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.86$0.15$1.71$4.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.46$0.16$4.30$3.63
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$0.13$3.39$3.82
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2012 to Mar 31, 2013
Signed
Feb 17, 2014
Return Version
2012v2.0
Gross Receipts
$159,672
Filing and Contact Details

Filer

EIN
26-2626111
Raw XML AppendixShowing 400 of 450 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDescription0Our mission is to PROVIDE ASSISTANCE TO PERSONS IN UNDERSERVED COMMUNITIES AND TO PROMOTE THE PUBLIC GOOD BY DEVELOPING AND DISSEMINATING INFORMATION TO CONSUMERS AND LENDERS ABOUT HOW TO IDENTIFY AND AVOID PREDATORY LENDING PRACTICES.
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IRS990/MissionDescription0The Fair Mortgage Collaborative is a non-profit educational, research and consumer information organization. Our mission is to educate low income and minority consumers about avoiding predatory lending practices and help them gain access to Fair and Safe lenders offering affordable and sustainable loan products. We work with consumer advocates, foundations, and nonprofit financial intermediaries to improve such access.Our mission is to PROVIDE ASSISTANCE TO PERSONS IN UNDERSERVED COMMUNITIES AND TO PROMOTE THE PUBLIC GOOD BY DEVELOPING AND DISSEMINATING INFORMATION TO CONSUMERS AND LENDERS ABOUT HOW TO IDENTIFY AND AVOID PREDATORY LENDING PRACTICES. IN FURTHERANCE OF THIS MISSION, THE ORGANIZATION WILL ESTABLISH AND MAINTAIN FAIR AND SAFE LENDING STANDARDS FOR THE PROTECTION OF CONSUMERS, DISSEMINATE INFORMATION ABOUT SUCH STANDARDS TO THE PUBLIC, IDENTIFY "FAIR AND SAFE" LENDING PRACTICES AND IDENTIFY AND DISSEMINATE INFORMATION ABOUT "BEST PRACTICES' THAT WILLIMPROVE THE PROVISION OF
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0TEMPORARY RESTRICTED GRANT $75000
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1Commencing February 17, 2010, the Organization became a not-for-profit organization that is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code and therefore, no provision has been made for income taxes in the accompanying financial statements. Prior to February 17, 2010, the Organization was treated as a for profit corporation for federal income tax purposes. The Organization incurred losses through February 16, 2010; therefore, no provision for income taxes was required. The Organization has been determined by the Internal Revenue Service not to be a "private foundation" within the meaning of Section 509(a) of the Code.Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to income tax examination by federal, state or local tax authorities for years before 2009, which is the standard statute of limitations look-back period.
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IRS990ScheduleO/GeneralExplanation/Explanation0AFTER APPROVAL OF THE FINANCIAL STATEMENTS BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS, THE ORGANIZATION MAKES AVAILABLE ALL GOVERNANCE DOCUMENTS, POLICY STATEMENTS, FINANCIAL STATEMENTS AND TAX RETURNS TO THE PUBLIC, UPON WRITTEN REQUEST. IN NOVEMBER 2010, THE ORGANIZATION HAD FILED THE FOLLOWING DOCUMENTS WITH THE NEW YORK STATE OFFICE OF ATTORNEY GENERAL'S CHAITIES BUREAU.A.A Registration Statement for Charitable Organizations (Form CHAR410) with appropriate attachments;B.Attachments required under Part D- copies of the corporation's Certificate of Incorporation (original and amendments), By-laws, copy of submitted IRS Form 1023 Application for Recognition of Exemption, and IRS tax exemption determination letter. THE ORGANIZATION HAS ALSO FILED ITS ANNUAL CHAR 500 REPORT WITH THE NYS ATTORNEY GENERAL AND ALL OF ITS FILINGS ARE EXPECTED TO BE MADE AVAILABLE THROUGH THE NYSOAG CHARITIES WEBSITE.
IRS990ScheduleO/GeneralExplanation/Explanation1DecisionS regarding compensation ARE based on the recommendations of an independent committee that considers performance, scope of responsibilities, and salary compensation for similar positions. Final approval for CEO compensation must be approved by the entire Board of Directors.
IRS990ScheduleO/GeneralExplanation/Explanation2The conflict of interest policy is renewed annually with all Officers of the organization. Potential conflicts are brought to the Executive Committee for review and Officers found to have conflicts of interest are asked to resign or abstain from involvement in all related projects.
IRS990ScheduleO/GeneralExplanation/Explanation3Before the Form 990 is filed it is distributed to the Board of Directors for review.
IRS990ScheduleO/GeneralExplanation/Explanation4BOARD OF DIRECTORS - DOCUMENT ALL MEETINGS AND MAJOR TRANSACTIONS IN THE MINUTES ON AN ANNUAL BASIS.
IRS990ScheduleO/GeneralExplanation/Explanation5THE ORGANIZATION APPROVED AN AMENDMENT TO ARTICLE 3 OF THE CERTIFICATE OF INCORPORATION AS FOLLOWS: The Corporation is organized and shall be operated exclusively for charitable purposes within the meaning of Section 501(c) (3) of the Internal Revenue Code as now in effect or as may hereafter be amended. The purposes of the Corporation are to provide assistance to persons in underserved communities and to promote the public good by developing and disseminating information to consumers and lenders about how to identify and avoid predatory lending practices. In furtherance of such purposes, the Corporation will establish and maintain fair and safe lending standards for the protection of consumers, disseminate information about such standards to the public, identify "fair and safe" lending practices and identify and disseminate information about "best practices" that will improve the provision of fair and safe lending services by providers to underserved consumers. In furtherance thereof, the Corporation may receive property by gift, devise or bequest, invest and reinvest the same, and apply the income and principal thereof, as the Board of Directors may from time to time determine, either directly or through contributions to any charitable organization or organizations, exclusively for charitable purposes, and engage in any lawful act or activity for purposes, and engage in any lawful act or activity for which corporations may be organized under the Not-for-Profit Corporation Law. In furtherance of its corporate purposes, the Corporation shall have all of the general powers enumerated in Sec. 202 of the Not-for-Profit Corporation Law, as now in effect or as may hereafter be amended, together with the power to solicit grants and contributions for such purposes.
IRS990ScheduleO/GeneralExplanation/Identifier0Form 990, Part VI, Line 19
IRS990ScheduleO/GeneralExplanation/Identifier1Form 990, Part VI, Line 15b
IRS990ScheduleO/GeneralExplanation/Identifier2Form 990, Part VI, Line 12c
IRS990ScheduleO/GeneralExplanation/Identifier3Form 990, Part VI, Line 11b
IRS990ScheduleO/GeneralExplanation/Identifier4Form 990, Part VI, Line 8
IRS990ScheduleO/GeneralExplanation/Identifier5Form 990, Part VI, Line 4
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents
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