Shared Interest Inc
Overview
Mission
The organization seeks to promote social reconstruction in south africa and neighboring countries by facilitating access to credit for low-income borrowers through the provision of loan guarantees to mainstream banks and other financial institutions. As these lenders have historically been reluctant to extend credit to a sector of the population they consider un-bankable, the majority of southern african citizens, absent the guarantees, would continue to be economically marginalized.
What it reported doing in 2024
The organization had outstanding agreements guaranteeing commercial loans to small and growing businesses, agricultural enterprises and micro-finance institutions in the southern africa region. The aggregate exposure involved in the guarantees totaled $3,485,000. Because the credit facilities arranged by shared interest were limited to no morethan 75% of the loans they backed, the guarantees ultimately unlocked total lending of sums in excess of the stated amount by virtue of the risk-sharing agreed in the contracts between local institutions and the organizations. Additionally, the guarantee program, implemented by means of the proven trans-border mechanism of standby bank letters of credit, continued to give the confidence to southern african non-bank financials institutions and other alternative lenders to put capital at risk in the sphere of small business finance and lending to economically-disenfranchised individuals. Collateralizing the letters of credit, were the us-custodied investments of the organization, funded by loans and donations by american individuals, family foundations, faith-based institutions. Healthcare systems and other investors accepting concessionary financial returns in exchange for the social impact that the organization helps to create.
Operating model
- Revenue model
- Donor-supported. 68% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The nonprofit carried out 100% of its reported program work directly.
- Includes noncash contributions: Reported contributions include donated property or goods.
Nonprofit profile at a glance
- EIN
- 133836581
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Headquarters
- New York, NY, USA
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- International Economic Development
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for setting executive pay and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 69
- Accountability: 100
- Sustainability: 33
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 78.2%; rating input score 78
- Fundraising efficiency: $6.8 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
- Public monitoring controls: Limited
- Public policy transparency: Limited
- Public financial transparency: Limited
- Impact reporting controls: Limited
- Public relationship transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Public governance controls: Limited
- Zakat policy transparency: Limited
Sustainability
- Operating margin: -26.8%; rating input score 7; 7th percentile among comparable filings
- Operating reserve ratio: 11.38; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0.88; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 22%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
- Revenue growth: -2.2% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: -0.9% per year; rating input score 0; 15th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 78.2% of spending went to programs
- Governance: 19 of 19 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1M in reported program spending
- Leadership: top reported pay $185K · 21 people listed · 0 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 14 annual filings from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.