Overview
What is Capital For Change Inc?
Capital For Change Inc, headquartered in Wallingford, Connecticut, is a recognized Community Development Financial Institution (CDFI) approved by the US Treasury. Their primary mission is to provide financially responsible services, fostering inclusive and sustainable communities. By managing risks effectively and delivering impressive results, they have garnered the trust of both institutional and private social impact investors. With an asset base of $73 million, they have facilitated numerous loans for affordable housing, commercial housing, and energy efficiency improvements this year alone, resulting in over 7,000 affordable housing units and thousands of job opportunities. Moreover, Capital For Change Inc has extensive experience in loan servicing, notably for energy efficiency loan programs, serving state and municipal public institutions. For more information, visit their website at capitalforchange.org.
Official website here: www.capitalforchange.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Capital For Change Inc has received a Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The rating is based entirely on its accountability and finance score, which stands at 81%. This score reflects the organization’s commitment to transparency and ethical governance, with a complete set of policies in place, including a conflict of interest policy and a whistleblower policy, both of which are fully documented.
The organization boasts a robust independent board, comprising 10 members, all of whom are independent. Capital For Change Inc has also excelled in maintaining high program expense ratios, with nearly 89% of its expenses allocated directly to programs, demonstrating a strong focus on its mission. Additionally, the charity has no reported material diversion of assets, indicating sound financial management.
However, the organization does have a liabilities to assets ratio of 73.69%, which reflects a potential area of concern regarding its financial health. While this score does not detract significantly from its overall rating, it suggests that stakeholders should monitor this aspect closely. Overall, Capital For Change Inc displays a solid commitment to accountability, though its financial liabilities warrant attention.
This AI summary has been generated from information found on Charity Navigator.
Is Capital For Change Inc legitimate?
Capital For Change Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capital For Change 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: $178,599
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,153,620
For more financial information, click here
Official website here: www.capitalforchange.org
What is the mission statement of Capital For Change Inc?
Capital for Change Inc's mission, in collaboration with its partners, is to foster stability, enhance well-being, and promote environmentally conscious development for low-income individuals and communities. They achieve this goal through their responsive financial services and products. As a Community Development Financial Institution (CDFI) approved by the US Treasury, Capital for Change provides a variety of financial services to consumers, nonprofits, businesses, and public institutions. Institutional and private social impact investors trust Capital for Change due to its effective risk management and results delivery. The organization has significantly contributed to the creation of over 7,000 affordable housing units, thousands of jobs, and substantial CO2 reduction. Capital for Change's financial base of $73 million in assets has enabled numerous loans for consumer and commercial housing and energy efficiency improvements this year alone. The institution also has decades of experience in loan servicing for organizations, particularly for energy efficiency loan programs.
Official website here: www.capitalforchange.org
Who is the CEO of Capital For Change Inc?
Diane Smith is the Cfo of Capital For Change Inc. The CEO's salary of Capital For Change Inc is $0 and their total compensation is $0.
Official website here: www.capitalforchange.org
What is the revenue of Capital For Change Inc?
Capital For Change Inc's revenue in 2023 was $7,930,155.
Official website here: www.capitalforchange.org
Who are the executives of Capital For Change Inc and what are their salaries?
The average compensation at Capital For Change Inc during 2023 was $60,586. There are 55 employees and 17 volunteers at Capital For Change Inc.
Here are 18 key members and their salaries (Capital For Change Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $128,458
- Related: $0
- Other: $40,004
- Compensation: $121,219
- Related: $0
- Other: $16,884
- Compensation: $110,019
- Related: $0
- Other: $31,045
- Compensation: $105,410
- Related: $0
- Other: $22,922
- Compensation: $102,508
- Related: $0
- Other: $23,242
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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Official website here: www.capitalforchange.org
Where can I find the form 990 for Capital For Change Inc?
Capital For Change Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.capitalforchange.org
Learn more at the official website: www.capitalforchange.org
Mission Statement of Capital For Change Inc
Capital for Change Inc, a Community Development Financial Institution (CDFI) approved by the US Treasury, is committed to providing responsive financial services for inclusive and sustainable communities. Their mission, in collaboration with their partners, is to promote stability, well-being, and environmentally conscious development for low-to-moderate income individuals and communities. By offering a variety of financial services and products, Capital for Change Inc aims to contribute to the financial stability of consumers, nonprofits, businesses, and public institutions.
Their services extend beyond traditional banking, reaching out to various sectors of the society. Institutional as well as private social impact investors trust Capital for Change Inc due to their effective risk management and the positive results they deliver. As a testament to their impact, they have supported the development of over 7,000 affordable housing units, created thousands of jobs, and significantly reduced CO2 emissions. This year alone, their financial base of $73 million in assets has facilitated numerous loans for consumer and commercial housing, as well as energy efficiency improvements.
Beyond lending, Capital for Change Inc also has decades of experience in loan servicing for organizations, particularly for energy efficiency loan programs. This expertise in managing financial resources efficiently and effectively has earned them the trust of state and municipal public institutions. For more information about Capital for Change Inc and their mission, visit their website at www.capitalforchange.org.
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Impact
July, 2024
Capital For Change Inc's impact is evident in the provision of responsive financial services that have led to the creation of over 7,000 affordable housing units, the generation of thousands of jobs, and significant CO2 reduction. With a financial base of $73 million in assets, Capital For Change Inc has facilitated thousands of loans for consumer and commercial housing, as well as energy efficiency improvements. Through decades of experience in loan servicing, including for energy efficiency loan programs, Capital For Change Inc has demonstrated its commitment to stability, well-being, and environmentally conscious development for low-moderate income individuals and communities.
This information is meant to be a general summary of Capital For Change 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: $22,270
- Program Service Revenue: $6,109,324
- Gross Receipts: $7,930,155
Assets and Liabilities:
- Total Assets: $73,173,736
- Total Liabilities: $53,927,647
- Net Assets: $19,246,089
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$3,675,619
MORTGAGE INTEREST
Revenue
$2,433,705
Organization Details
Founding Year
1968
Phone
(800) 992-3665Principal Officer
Diane Smith
Main Address
10 ALEXANDER DRIVE, WALLINGFORD, CT, 06492
Website
www.capitalforchange.orgNTEE Category
Code: L820 - Housing
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