South Carolina Mortgage

Nonprofit profile at a glance

EIN
570984316
IRS 990 coverage
2009–2010
Forms available
Form 990 2010
Location
Columbia, SC, USA
Phone
8435218120
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$17,176
Expenses
$20,214
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This year we have conducted education seminar and regional meetings Through these programs we have tried to provide a broader understanding and acceptance of professional mortgage brokering as a source of real esta financing. We have also tried to promote a common business interest of those engaged in the mortgage brokerage business as well as foster a co-operative liaison with other related professional groups. We have also put forth an effort to monitor all practices which promotes the fair dealings of the mortgage brokerage business. We also attempt to provide forums for the effective exchange of mortgage brodering knowledge, ideas trends and innovations.

What it reported doing in 2010

We conducted one seminar in the past year. Through this program we atempted to provide a forum for the effective exchange of mortgage brokering knowledge, ideas, trends and innovations. There was also the opportunity to promote the fair dealings of the mortgage brokerage business.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 6
  • Sustainability: 27
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 59th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 11th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.7%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -89.7% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 5 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 2 contractors listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2009 to 2010
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.