Ecumenical Development Corporation USA

Revenue, expenses, and employee compensationIRS Form 990 totals for revenue, expenses, and employee compensation (salaries, other compensation, and employee benefits).

Mission Statement

THE ORGANIZATION'S MISSION IS TO RAISE CAPITAL THROUGH ITS NOTES PROCEEDS IN THE U.S. AND CURRENTLY LENDS ITS CAPITAL TO OIKOCREDIT, ECUMENICAL DEVELOPMENT COOPERATIVE SOCIETY U.A. ("OIKOCREDIT EDCS") FOR THE PURPOSE OF INVESTING IN PRODUCTIVE ENTERPRISES THAT BENEFIT THE POOR. IN THE FUTURE, EDC-USA MAY LEND CAPITAL TO OTHER ENTITIES FOR SIMILAR PURPOSES. THE LOAN OBJECTIVES INCLUDE: STABILIZING SMALL BUSINESS, CREATION OF SUSTAINABLE JOBS AND PROMOTING THE IDEAL OF SELF-SUFFICIENCY IN SOCIETY, THUS ALLEVIATING POVERTY. LOANS MADE BY EDCS-UA ARE STRUCTURED TO MATURE AT THE SAME TIME THE ORGANIZATION'S NOTES PAYABLE MATURE. IN ADDITION, THE ORGANIZATION MAKES LOANS AT THE SAME RATE OF INTEREST AS THE NOTES PAYABLE. THE ORGANIZATION MAKES NO PROFIT ON THE SALE OF NOTES.THE ORGANIZATION COMPLETED THE PROCESS OF UNWINDING ITS SOCIAL INVESTMENT PROGRAM IN 2016.