Overview
What is Cape Ann Commercial Fishermen's Loan Fund Inc?
Cape Ann Commercial Fishermen's Loan Fund Inc is a nonprofit organization that provides essential financial assistance to individuals in the commercial fishing industry. Situated within this organization's mission is the objective of offering business loans to those who struggle to secure traditional financing. This support aims to empower and sustain the continuity of the commercial fishing industry, thereby ensuring the livelihood of those dependent on it. The organization's primary activity is to extend loans to eligible candidates within the industry, fostering growth and prosperity.
Is Cape Ann Commercial Fishermen's Loan Fund Inc legitimate?
Cape Ann Commercial Fishermen's Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Cape Ann Commercial Fishermen's Loan Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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What is the mission statement of Cape Ann Commercial Fishermen's Loan Fund Inc?
Cape Ann Commercial Fishermen's Loan Fund Inc is dedicated to extending business loans to individuals involved in the commercial fishing industry who find it challenging to secure traditional financing. The organization's primary objective is to provide financial support, thereby empowering these individuals to sustain and grow their operations in the fishing sector. By offering tailored loan services, the fund aims to bridge the financial gap and contribute to the overall stability and development of the commercial fishing industry.
Who is the CEO of Cape Ann Commercial Fishermen's Loan Fund Inc?
Rochelle Genovese is the President of Cape Ann Commercial Fishermen's Loan Fund Inc.
What is the revenue of Cape Ann Commercial Fishermen's Loan Fund Inc?
Cape Ann Commercial Fishermen's Loan Fund Inc's revenue in 2023 was $255.
Who are the executives of Cape Ann Commercial Fishermen's Loan Fund Inc and what are their salaries?
Here are 16 key members and their salaries:
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Where can I find the form 990 for Cape Ann Commercial Fishermen's Loan Fund Inc?
Cape Ann Commercial Fishermen's Loan Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cape Ann Commercial Fishermen's Loan Fund Inc
Cape Ann Commercial Fishermen's Loan Fund Inc is dedicated to providing business loans to individuals in the commercial fishing industry who find it challenging to secure traditional financing. This nonprofit organization understands the unique financial challenges faced by commercial fishermen and aims to bridge the gap by offering accessible and tailored loan services. By extending business loans, Cape Ann Commercial Fishermen's Loan Fund Inc empowers fishermen to invest in their operations, upgrade equipment, or cover unexpected expenses, thereby ensuring the sustainability and growth of the commercial fishing industry.
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Impact
October, 2024
Cape Ann Commercial Fishermen's Loan Fund Inc significantly impacts the commercial fishing industry by providing essential financial support to fishermen and related businesses who face challenges in accessing traditional financing. By offering business loans tailored to the unique needs of this sector, the organization helps to sustain livelihoods, promote economic stability, and foster community resilience in Gloucester, MA, and beyond. This targeted financial assistance enables local fishermen to invest in equipment, maintenance, and operational improvements, ensuring they can continue their vital role in the economy and maintain the cultural heritage of the region. Through its efforts, the organization not only strengthens individual businesses but also contributes to the overall health and sustainability of the commercial fishing community.
This information is meant to be a general summary of Cape Ann Commercial Fishermen's Loan Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $49
- Program Service Revenue: $206
- Gross Receipts: $255
Assets and Liabilities:
- Total Assets: $98,440
- Total Liabilities: $15,871
- Net Assets: $82,569
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST AND FEES
Revenue
$206
Organization Details
Founding Year
1976
Phone
(978) 283-2959Principal Officer
Rochelle Genovese
Main Address
PO BOX 5231, GLOUCESTER, MA, 01930
NTEE Category
Code: S40 - Community improvement
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