Overview
What is Cdcli Funding Corporation?
Cdcli Funding Corporation is a not-for-profit organization, certified as a Community Development Financial Institution (CDFI) by the U.S. Department of Treasury. Based in Melville, New York, the corporation's primary mission is to provide residential loan products, assisting first-time home buyers in their property purchases and aiding existing homeowners with necessary repairs and improvements. Their operational expenses cover various aspects, including outreach, education, loan processing, underwriting, closing, and loan management. With a focus on under-resourced and under-financed individuals, communities, and developments, Cdcli Funding Corporation plays an essential role in promoting homeownership and community development in its service area.
Official website here: www.cdcli.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 87%, Three-Star out of Four Star rating.
Cdcli Funding Corporation has received a solid Three-Star rating based on its 87% score, which highlights its strong focus on accountability and finance. The organization has demonstrated a commitment to transparency and ethical governance with 83% of its board members being independent, a well-structured oversight committee, and various policies in place to prevent conflicts of interest and manage whistleblowing.
Strengths of the organization include a high program expense ratio of 82.44%, indicating that a significant portion of its funds is directed towards its mission-related activities. Additionally, the absence of any material diversion of assets showcases its financial integrity. However, the liabilities to assets ratio of 62.03% suggests potential financial concerns that may require monitoring in the future. Overall, Cdcli Funding Corporation appears to be a responsible organization with good practices in place, though it may need to address its financial ratios over time.
This AI summary has been generated from information found on Charity Navigator.
Is Cdcli Funding Corporation legitimate?
Cdcli Funding Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cdcli Funding Corporation 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: $8,972
For more financial information, click here
Official website here: www.cdcli.org
What is the mission statement of Cdcli Funding Corporation?
Cdcli Funding Corporation, recognized as a Community Development Financial Institution by the U.S. Department of Treasury, operates with a mission to assist under-resourced and under-financed individuals, communities, and developments. This not-for-profit corporation offers various loan products, including residential loans that aid first-time home buyers in purchasing properties and existing homeowners with necessary repairs and improvements. The organization's activities are focused on overseeing operational aspects, such as outreach, education, loan processing, underwriting, closing, and loan management, with the ultimate goal of supporting those in need.
Official website here: www.cdcli.org
Who is the CEO of Cdcli Funding Corporation?
Gwen O'Shea is the President/Ceo of Cdcli Funding Corporation. The CEO's salary of Cdcli Funding Corporation is $0 and their total compensation is $382,059.
Official website here: www.cdcli.org
What is the revenue of Cdcli Funding Corporation?
Cdcli Funding Corporation's revenue in 2022 was $1,526,404.
Official website here: www.cdcli.org
Who are the executives of Cdcli Funding Corporation and what are their salaries?
The average compensation at Cdcli Funding Corporation during 2022 was $8,972. There is 1 employee and 5 volunteers at Cdcli Funding Corporation.
Here are 8 key members and their salaries (Cdcli Funding Corporation's CEO's salary is $0 and their total compensation is $382,059):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $327,730
- Other: $54,329
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $206,079
- Other: $16,464
- Compensation: $0
- Related: $96,176
- Other: $8,785
Official website here: www.cdcli.org
Where can I find the form 990 for Cdcli Funding Corporation?
Cdcli Funding Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cdcli.org
Learn more at the official website: www.cdcli.org
Mission Statement of Cdcli Funding Corporation
CDCLI Funding Corporation, a certified Community Development Financial Institution by the U.S. Department of Treasury, is on a mission to assist under-resourced and under-financed individuals, communities, and developments. This not-for-profit corporation offers a variety of residential loan products, serving as a valuable resource for first-time home buyers looking to purchase a property and existing homeowners in need of repairs and improvements. By providing these loan products, CDCLI Funding Corporation aims to contribute to the betterment of communities and make homeownership more accessible. In addition to offering loan products, the corporation incurs program service expenses to oversee all operational aspects of its operations, including outreach, education, loan processing, underwriting, closing, and loan management.
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Impact
July, 2024
Cdcli Funding Corporation's impact is significant in providing residential loan products that assist first-time buyers in purchasing a home and existing homeowners with needed repairs and improvements. By overseeing all operational aspects of the Community Development Financial Institution (CDFI), including outreach, education, loan process, underwriting, closing, and loan management, Cdcli Funding Corporation plays a vital role in supporting under-resourced and under-financed individuals, communities, and developments in achieving homeownership and improving their living situations. This organization's commitment to providing accessible and affordable financial resources contributes to the overall well-being and stability of the communities it serves.
This information is meant to be a general summary of Cdcli Funding Corporation. 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 2022.
- Program Service Revenue: $213,404
- Gross Receipts: $1,526,404
Assets and Liabilities:
- Total Assets: $9,703,857
- Total Liabilities: $6,019,714
- Net Assets: $3,684,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$154,516
LOAN SERVICE FEES
Revenue
$58,888
Organization Details
Founding Year
1997
Phone
(631) 471-1215Principal Officer
Gwen O'Shea
Main Address
1660 WALT WHITMAN ROAD 130, MELVILLE, NY, 11747
Website
www.cdcli.orgNTEE Category
Code: P80 - Human services
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