Uncommon Lender Inc
- Assets
- $174.2m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2012
- Data as of
- 06/2022
- EIN
- 26-3594129
Organization Overview
Uncommon Lender Inc is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Uncommon Lender Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Uncommon Lender Inc generated $12.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $11.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT UNCOMMON SCHOOLS, INC.'S REAL ESTATE AND OTHER ACTIVITIES BY PROVIDING SUBORDINATE DEBT AND EQUITY THROUGH LOANS, GRANTS, LOAN PARTICIPATION PURCHASES AND EQUITY CONTRIBUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING FUNDING FOR REAL ESTATE ACTIVITIES OF UNCOMMON SCHOOLS, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)3 TAX EXEMPT ORGANIZATION, AND ITS AFFILIATES THROUGH PURCHASING PARTICIPATION IN LEVERAGE LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Peiser Ceo/director | OfficerTrustee | 1 | $0 |
Robert Marcus Director | Trustee | 1 | $0 |
Norman Atkins Director | Trustee | 1 | $0 |
David Cooper Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $500,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,000 |
| Total Program Service Revenue | $10,683,713 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,168,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,500,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $128,313 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,727,862 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $11,502,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,810,951 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,588,428 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,379 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $158,285,291 |
| Intangible assets | $0 |
| Other assets | $9,476,359 |
| Total assets | $174,239,408 |
| Accounts payable and accrued expenses | $1,780,944 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $6,827,258 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $118,128,714 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,243,579 |
| Total liabilities | $134,980,495 |
| Net assets without donor restrictions | $39,258,913 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $174,239,408 |
Grants Awarded
Over the last fiscal year, Uncommon Lender Inc has awarded $4,500,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH STAR ACADEMY CHARTER SCHOOL PURPOSE: SCHOOL SUPPORT AND GRANT EXPENSES | $3,000,000 |
CAMDEN PREP FOUNDATION PURPOSE: SCHOOL SUPPORT AND GRANT EXPENSES | $1,500,000 |