Tallahassee Lenders Consortium Inc
- Assets
- $2.3m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Tallahassee, FL
- Founding
- 08/1994
- Data as of
- 09/2021
- EIN
- 59-3212709
Organization Overview
Tallahassee Lenders Consortium Inc is located in Tallahassee, FL. The organization was established in 1994. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Tallahassee Lenders Consortium Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tallahassee Lenders Consortium 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 09/2021, Tallahassee Lenders Consortium Inc generated $1.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE COMPREHENSIVE HOUSING SERVICES AND PROMOTE AND ENGAGE IN NEIGHBORHOOD REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWN PAYMENT ASSISTANCE INTEREST FREE DOWN PAYMENT ASSISTANCE LOANS MADE TO 35 LOW INCOME FAMILIES.
COUNSELING FOR ONE ON ONE COUNSELING (PREPURCHASE, DELINQUENCY, FORECLOSURE, AND REVERSE MORTGAGE) WE CONDUCTED 445 COUNSELING SESSIONS. FOR GROUP COUNSELING (ORIENTATION, FINANCIAL LITERACY, PREPURCHASE EDUCATION AND POST PURCHASE EDUCATION) WE SERVED APPROXIMATELY 1,444 HOUSEHOLDS. COUNSELING SERVICES ARE EXPANDING TO INCLUDE THE FOLLOWING: HECM COUNSELING (REVERSE MORTGAGE COUNSELING FOR SENIORS) CERTIFIED STAFF TO PROVIDE HECM COUNSELING TO SENIORS (62 YEARS OR OLDER) WHO ARE INTERESTED IN SECURING A REVENUE MORGAGE LOAN. TLC DOES NOT OFFER THE LOAN. HUD REQUIRES THAT ALL SENIORS RECEIVE COUNSELING PRIOR TO GETTING A HECM LOAN. TLC WILL PROVIDE THE COUNSELING.
NEIGHBORHOOD REVITALIZATIONTO HELP DEVELOP RESIDENT LEADERSHIP IN SEVERAL SOUTHSIDE LOW-INCOME NEIGHBORHOODS, WORKING IN CONJUNCTION WITH THE CITY OF TALLAHASSEE AND NEIGHBORHOOD PARTNERS. OUR PRIMARY FOCUS WILL BE TO HELP DEVELOP AND TRAIN LOW-INCOME RESIDENT LEADERS AND HELP THE LEADERS LEARN HOW TO DO EFFECTIVE STRATEGIC PLANNING AND HOW TO WRITE GRANTS AND LOOK FOR FUNDING OPPORTUNITIES TO FUND THEIR PLANS, RESULTING IN REVITALIZED NEIGHBORHOODS. TLC WILL CONTINUE TO DO ACQUISITION/REHABILITATION/RESALE OF AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Miller Executive Director | Officer | 30 | $70,000 |
Brian Baggett President | OfficerTrustee | 4 | $0 |
Greg Lane Vice President | OfficerTrustee | 5 | $0 |
Brenda Hawkins Secretary | OfficerTrustee | 3 | $0 |
Jack Kane Treasurer | OfficerTrustee | 5 | $0 |
Torrey Ford Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $764,619 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,578 |
| Noncash contributions included in lines 1a–1f | $5,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $836,197 |
| Total Program Service Revenue | $117,668 |
| Investment income | $87 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $77,307 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,031,259 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $328,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,839 |
| Compensation of current officers, directors, key employees. | $33,536 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,963 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,503 |
| Payroll taxes | $30,495 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,943 |
| Advertising and promotion | $5,720 |
| Office expenses | $40,297 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,537 |
| Travel | $984 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,727 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,153 |
| Insurance | $14,555 |
| All other expenses | $38,075 |
| Total functional expenses | $1,424,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,407,313 |
| Savings and temporary cash investments | $135,000 |
| Pledges and grants receivable | $445,450 |
| Accounts receivable, net | $7,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $129,194 |
| Prepaid expenses and deferred charges | $9,459 |
| Net Land, buildings, and equipment | $201,606 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,335,022 |
| Accounts payable and accrued expenses | $28,144 |
| Grants payable | $0 |
| Deferred revenue | $787,839 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $372,569 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,188,552 |
| Net assets without donor restrictions | $1,123,763 |
| Net assets with donor restrictions | $22,707 |
| 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 | $2,335,022 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tallahassee Lenders Consortium Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black Business Capital Financing Corporation Orlando, FL | $2,368,994 | $4,102,775 |
Neighborhood Housing Services Of South Florida Inc Miami, FL | $3,823,454 | $2,936,534 |
Tallahassee Lenders Consortium Inc Tallahassee, FL | $2,335,022 | $1,031,259 |
Neighborhood Housing And Development Corporation Gainesville, FL | $6,914,006 | $1,650,603 |
Heating Energy Assistance Team Inc Smyrna, GA | $1,435,570 | $1,363,799 |
Presbyterian Community Ministry Inc Auburn, AL | $372,932 | $0 |
Share Credit Corp St Simons Island, GA | $1,942,550 | $101,176 |
Home Buying Assistance Foundation Tamarac, FL | $5,125 | $0 |
Senior Citizens Housing Development Corporation Of Fontana Plantation, FL | $13,331,099 | $0 |