Community Credit Lab
- Assets
- $3.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Seattle, WA
- Founding
- Data as of
- 09/2022
- EIN
- 84-1899948
Organization Overview
Community Credit Lab is located in Seattle, WA. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. As of 09/2022, Community Credit Lab employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Credit Lab 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 09/2022, Community Credit Lab generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 65.4% each year . All expenses for the organization totaled $905.1k during the year ending 09/2022. While expenses have increased by 69.9% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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 EQUITABLE ACCESS TO ECONOMIC OPPORTUNITIES FOR IMMIGRANTS, REFUGEES, LOW-INCOME, MARGINALIZED, AND UNDERSERVED COMMUNITIES IN KING COUNTY AND THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DESIGN AND MANAGEMENT OF AFFORDABLE LENDING PROGRAMS THAT SEEK TO INCREASE ECONOMIC EQUALITY FOR COMMUNITIES FACING DISCRIMINATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandhya Nakhasi Ed,president & Treasurer | OfficerTrustee | 40 | $70,500 |
Ryan Glasgo Vice President & Secretary | Officer | 40 | $70,500 |
Sumona Patel Board Member | Trustee | 2 | $0 |
Jordan Sanchez Board Member | Trustee | 2 | $0 |
Kaitlyn Rich Board Member | Trustee | 2 | $0 |
Kyle Mylius Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,278,947 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,278,947 |
| Total Program Service Revenue | $82,870 |
| Investment income | $2,260 |
| 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 | $1,364,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $141,000 |
| Compensation of current officers, directors, key employees. | $6,162 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,526 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,543 |
| Payroll taxes | $31,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,090 |
| Fees for services: Accounting | $8,698 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $17,125 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $610 |
| Office expenses | $34,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,083 |
| Travel | $9,017 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,204 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,621 |
| All other expenses | $3,675 |
| Total functional expenses | $905,099 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,299,875 |
| Savings and temporary cash investments | $387,749 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,250 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,393,807 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,959 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,121,640 |
| Accounts payable and accrued expenses | $74,846 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $2,042,225 |
| Other liabilities | $0 |
| Total liabilities | $2,117,071 |
| Net assets without donor restrictions | $482,769 |
| Net assets with donor restrictions | $521,800 |
| 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 | $3,121,640 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Community Credit Lab has recieved totaling $331,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $100,500 |
Washington Womens Foundation Seattle, WA PURPOSE: HUMAN SERVICES | $100,000 |
Becu Foundation Tukwila, WA PURPOSE: MOMENTUM GRANTS | $50,000 |
The Seattle Foundation Seattle, WA PURPOSE: TO PROVIDE GENERAL SUPPORT; HOUSING AND FINANCIAL SECURITY OF LOW-INCOME SENIORS | $35,000 |
Amalgamated Charitable Foundation Inc Washington, DC PURPOSE: General operating support | $25,000 |
Cedarmere Foundation Seattle, WA PURPOSE: SUPPORT OUTSOURCING FOR LOAN PRE-QUALIFICATION AND SERVICING | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of St Vincent De Paul Council Of Seattle-King County Seattle, WA | $21,469,117 | $18,470,665 |
Coastal Harvest Hoquiam, WA | $1,540,554 | $11,746,858 |
Atwork Bellevue, WA | $5,381,374 | $7,778,485 |
St Vincent De Paul Salvage Bureau Coeur Dalene, ID | $11,594,778 | $9,207,604 |
The Coffee Oasis Bremerton, WA | $6,623,301 | $4,751,835 |
Clatsop Community Action Astoria, OR | $4,439,328 | $4,346,082 |
Shag Community Life Foundation Bellevue, WA | $1,123,064 | $3,936,102 |
Marie Institute Seattle, WA | $1,362,782 | $2,700,627 |
Richard W Hotes Foundation Kirkland, WA | $11,520,671 | $3,850,434 |
Peoples Harm Reduction Alliance Seattle, WA | $64,623 | $1,180,953 |
Spoon Foundation Portland, OR | $833,673 | $1,387,329 |
Nami Washington Seattle, WA | $987,721 | $1,409,417 |