Neighborhood Lending Services Inc.
Neighborhood Lending Services Inc.
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About this organization
Mission
Revitalize underserved Chicago neighborhoods by originating affordable fixed-rate mortgage loans for low- and moderate-income borrowers throughout Chicago, Kane County, and south suburban Cook County.
About
Neighborhood Lending Services, Inc. (NLS) is an Illinois residential mortgage license (#M000661) and an equal opportunity housing lender, incorporated in 1987 to provide affordable financing for home purchase, home improvements or refinance loans to help borrowers buy, fix, and keep their homes. NLS originates affordable fixed-rate loans for borrowers in the city of Chicago and south suburban Cook County. NLS offers first mortgages for home purchase, purchase-rehab, refinance and refinance-rehab and home improvement. Through its partnerships with the city of Chicago, NLS also offers forgivable and deferred loans in tandem with other NLS loan products. In FY2018, 135 borrowers accessed NLS financing. The majority of our loans and grants went to low-moderate income neighborhoods in Chicago and south suburban Cook County.
Interesting data from their 2020 990 filing
According to the filing documents, the non-profit's mission is defined as “The purposes for which nls was organized were: (i) to receive, administer and disburse funds exclusively for scientific, educational, and charitable purposes without pecuniary gain to its members; (ii) to make loans for the benefit of persons of low-moderate income who reside primarily in targeted neighborhoods for improvements to their residency;(iii) to stem or otherwise prevent deterioration of existing housing stock in targeted neighborhoods;(iv) to provide improved housing opportunities for persons of low- and moderate-income.”.
When referring to its tasks, they were referred to as: “Revitalize underserved chicago neighborhoods by originating affordable fixed-rate mortgage loans for low- and moderate-income borrowers throughout chicago, kane county, and south suburban cook county.”.
- The non-profit's state of operation has been legally reported as IL.
- According to the latest filing, the non-profit's address in 2020 is 1279 N MILWAUKEE AVENUE, CHICAGO, IL, 60622.
- The total number of employees reported by the non-profit on their form for 2020 is 0.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $814,817.
- The organization has 8 independent voting members.
- The organization was formed in 1987.
- The organization pays $1,885,428 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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