philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Share Credit Corp FY2020 filing

Tax-deductible

St Simons Is, GA501(c)(3)Housing EIN 58-2240168Revenue $189K in FY2020

On file with the IRSPo Box 20099, 31522-8099 · St Simons Is, GATax-exempt since Jan 2000Publicly supported charity — 170(b)(1)(A)(vi)

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To provide a system of Share loan financing for low income cooperative housing members, and to provide investment opportunities for participating non profit housing cooperatives.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $68K a year · 60% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
274 mo
of spending, in cash
Looks good: 273.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$203K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$189K
Spent
$23K
To programs
70%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$189K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$189K
FY2021$101K
FY2022$83K
FY2023$95K
FY2024$92K
Expenses
$23K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$23K
FY2021$91K
FY2022$34K
FY2023$44K
FY2024$31K
Net assets
$1.9M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$1.9M
FY2022$2.0M
FY2023$2.0M
FY2024$2.1M

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $16K Management & general 30% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Erin McDonald
Treasurer
$0Pt VII · Sec A
Paul Solomon
President
$0Pt VII · Sec A
See Share Credit Corp executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Finances low-income housing cooperatives and offers investment opportunities.

Questions for Share Credit Corp

Tap to ask. Share Credit Corp sees how many people are interested.

Your first name shows with your question. Share Credit Corp answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $16K · in their own filed words · FY2020
01

Renewed existing lines of credit with six members, totaling 4,650,000; sixteen new loans were made to cooperative members; one hundred eighty nine loans, with a value of 1,591,829.70 were outstanding as of december 31, 2020. Interest of 5,625 was paid to non-profit cooperative housing members.

$16Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$189K
Ln 12
Fees for servicesLn 2g$132K
Gifts and grantsLn 1h$57K
Money outPt IX
$23K
Ln 25
Programscol B$16K
Managementcol C$7K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$523K
Total assetsLn 16$2.1M
LiabilitiesLn 26$203K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$57K
Fees for servicesLn 2g$132K
Total revenueLn 12$189K
Assets in detailPt X, end of year
CashLn 1$523K
Cash and savings togetherLn 1–2$523K
Other assetsLn 15$20K
Total assetsLn 16$2.1M
LiabilitiesLn 26$203K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$326K$523K
Total assetsLn 16$2.2M$2.1M
LiabilitiesLn 26$408K$203K
Net assetsLn 32$1.8M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$1K$1K
Accounting feesLn 11c$6K$6K
Office expensesLn 13$30$30
InterestLn 20$16K$16K
Total functional expensesLn 25$23K$16K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $92K$31K$62K$2.1M 990 PDF
FY2023 $95K$44K$51K$2.0M 990 PDF
FY2022 $83K$34K$49K$2.0M 990 PDF
FY2021 $101K$91K$10K$1.9M 990 PDF
FY2020 Viewing $189K$23K$166K$1.9M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $189,214 revenue, 12 lines filed
I-8 Contributions and grants$56,883
I-9 Program service revenuePrior year $168,133$132,331
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $168,133$189,214
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $42,425$22,945
I-18 Total expensesPrior year $42,425$22,945
I-19 Revenue less expensesPrior year $125,708$166,269
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $189,214 across 4 lines filed
VIII-1d Related organizations$56,883
VIII-1h Total contributions, gifts and grants$56,883
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,331$132,331
VIII-12 Total revenueRelated to mission $132,331$189,214
Part IX · Statement of functional expenses $22,945 across 4 lines filed
IX-11a Management feesManagement $1,035$1,035
IX-11c Accounting feesManagement $5,850$5,850
IX-13 Office expensesManagement $30$30
IX-20 InterestPrograms $16,030$16,030
IX-25 Total functional expensesPrograms $16,030 · Management $6,915 · Fundraising $0$22,945
Part X · Balance sheet $2,134,867 assets, 9 lines filed
Asset lines not itemized here account for $1,591,829; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $326,499$522,925
X-15 Other assetsStart of year $12,574$20,113
X-16 Total assetsStart of year $2,174,295$2,134,867
X-17 Accounts payable and accrued expensesStart of year $564$423
X-24 Unsecured notes and loans payableStart of year $132,778$102,222
X-26 Total liabilitiesStart of year $408,342$202,645
X-27 Net assets without donor restrictionsStart of year $1,765,953$1,932,222
X-32 Total net assets or fund balancesStart of year $1,765,953$1,932,222
X-33 Total liabilities and net assetsStart of year $2,174,295$2,134,867
Part XI · Reconciliation of net assets $1,932,222 net assets at year end
XI-1 Total revenue$189,214
XI-2 Total expenses$22,945
XI-3 Revenue less expenses$166,269
XI-4 Net assets at start of year$1,765,953
XI-10 Net assets at end of year$1,932,222

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.