Overview
What is Dorchester Bay Neighborhood Loan Fund Inc?
Dorchester Bay Neighborhood Loan Fund Inc is a nonprofit organization dedicated to offering lending services for low-income projects. They provide personalized assistance to small business entrepreneurs and borrowers before and after loans, ensuring the success of their ventures. The organization offers direct loans ranging from $500 to $50,000, combining their own capital and Small Business Administration (SBA) loans. Their mission is to strengthen the community by supporting local businesses and promoting economic growth in low-income areas.
Official website here: www.dbedc.org
Is Dorchester Bay Neighborhood Loan Fund Inc legitimate?
Dorchester Bay Neighborhood Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dorchester Bay Neighborhood 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.dbedc.org
What is the mission statement of Dorchester Bay Neighborhood Loan Fund Inc?
The Dorchester Bay Neighborhood Loan Fund Inc is committed to offering lending services for low-income projects. Their mission involves providing one-on-one technical assistance before and after loans to small business entrepreneurs and borrowers. The organization offers direct loans ranging from $500 to $50,000, utilizing both their own funds and SBA loans. The primary aim is to support and empower these individuals, contributing to the development of their businesses and projects.
Official website here: www.dbedc.org
Who is the CEO of Dorchester Bay Neighborhood Loan Fund Inc?
Kimberly Lyle is the CEO of Dorchester Bay Neighborhood Loan Fund Inc The CEO's salary of Dorchester Bay Neighborhood Loan Fund Inc is $0 and their total compensation is $239,784.
Official website here: www.dbedc.org
What is the revenue of Dorchester Bay Neighborhood Loan Fund Inc?
Dorchester Bay Neighborhood Loan Fund Inc's revenue in 2023 was $2,680,816.
Official website here: www.dbedc.org
Who are the executives of Dorchester Bay Neighborhood Loan Fund Inc and what are their salaries?
There 14 volunteers at Dorchester Bay Neighborhood Loan Fund Inc.
Here are 23 key members and their salaries (Dorchester Bay Neighborhood Loan Fund Inc's CEO's salary is $0 and their total compensation is $239,784):
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- Related: $200,000
- Other: $39,784
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- Related: $201,634
- Other: $51,289
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- Related: $154,833
- Other: $33,762
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- Related: $145,308
- Other: $44,220
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- Related: $128,100
- Other: $50,000
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- Related: $109,322
- Other: $26,487
- Compensation: $0
- Related: $156,750
- Other: $27,077
Official website here: www.dbedc.org
Where can I find the form 990 for Dorchester Bay Neighborhood Loan Fund Inc?
Dorchester Bay Neighborhood Loan Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.dbedc.org
Learn more at the official website: www.dbedc.org
Mission Statement of Dorchester Bay Neighborhood Loan Fund Inc
Dorchester Bay Neighborhood Loan Fund Inc is dedicated to providing lending services for low-income projects. Their mission is to offer one-on-one technical assistance, both before and after loans, to small business entrepreneurs and borrowers. The organization provides direct loans ranging from $500 to $5000, utilizing a mix of their own capital and SBA loans. The primary goal of Dorchester Bay Neighborhood Loan Fund Inc is to support projects that cater to low-income communities, thereby contributing to their economic growth and development.
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Impact
October, 2024
Dorchester Bay Neighborhood Loan Fund Inc has significantly impacted the community by providing essential lending services aimed at low-income projects. By offering direct loans ranging from $500 to $50,000, the fund enables small business entrepreneurs and borrowers to access the capital necessary to grow their ventures and improve their financial footing.
In addition to financial support, the organization emphasizes the importance of knowledge and infrastructure by providing one-on-one pre-loan and post-loan technical assistance. This support helps small business owners navigate the lending process and effectively manage their loans, ultimately fostering a more robust entrepreneurial ecosystem in Dorchester.
The focus on low-income projects not only contributes to the economic development of the area but also promotes community improvement by empowering individuals and small businesses to thrive. Such initiatives help stimulate local job creation and support the overall vitality of the Dorchester community.
This information is meant to be a general summary of Dorchester Bay Neighborhood 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: $1,474
- Program Service Revenue: $149,898
- Gross Receipts: $2,680,816
Assets and Liabilities:
- Total Assets: $1,967,600
- Total Liabilities: $991,209
- Net Assets: $976,391
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NOTE INTEREST
Revenue
$104,442
PROGRAM SERVICE FEES
Revenue
$45,456
Organization Details
Founding Year
1998
Principal Officer
Kimberly Lyle
Website
www.dbedc.orgNTEE Category
Code: S30 - Community improvement
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