Overview
What is Community First Capital Corp?
Community First Capital Corp is a nonprofit organization based in Lancaster, Pennsylvania. Its primary mission is to provide loans to individuals and businesses interested in revitalizing deteriorated communities and creating affordable housing. They operate in Pennsylvania, Central Pennsylvania, and surrounding areas. During the COVID-19 pandemic, the organization shifted its focus to promoting the SBA Paycheck Protection Program (PPP) to businesses located in low-income communities and owned by people of color. As of June 30, 2022, they have 113 outstanding loans, including 18 PPP loans, totaling approximately 7.36 million dollars. The organization also offers business counseling to help reduce poverty and reduce government burdens.
Is Community First Capital Corp legitimate?
Community First Capital Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community First Capital Corp 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
What is the mission statement of Community First Capital Corp?
Community First Capital Corp's mission is centered around providing loans to individuals and businesses interested in revitalizing deteriorated communities, with the aim of creating jobs and affordable housing. By offering business counseling, the organization also seeks to reduce poverty and lessen government burdens. During the COVID-19 pandemic, Community First Capital Corp shifted its focus to promoting the SBA's Paycheck Protection Program (PPP) to businesses in low-income communities and owned by people of color. As of June 30, 2022, the corporation had 113 loans outstanding, including 18 PPP loans, totaling over 7 million dollars.
Who is the CEO of Community First Capital Corp?
Michael Carper is the Treasurer of Community First Capital Corp.
What is the revenue of Community First Capital Corp?
Community First Capital Corp's revenue in 2022 was $474,502.
Who are the executives of Community First Capital Corp and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $166,513
- Other: $27,051
- Compensation: $0
- Related: $155,311
- Other: $20,835
- Compensation: $0
- Related: $125,858
- Other: $0
- Compensation: $0
- Related: $103,055
- Other: $11,791
Where can I find the form 990 for Community First Capital Corp?
Community First Capital Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community First Capital Corp
Community First Capital Corp is dedicated to making loans available to individuals living, working, or showing interest in developing deteriorated communities and businesses situated in Pennsylvania, Central Pennsylvania, and surrounding communities. The primary objective of this nonprofit organization is to create job opportunities and affordable housing, thereby reducing poverty and lessening the burdens of government. To achieve this mission, Community First Capital Corp provides business counseling and offers loans that may be guaranteed by the U.S. Small Business Administration (SBA).
In the face of the COVID-19 pandemic, Community First Capital Corp shifted its focus to promoting the SBA Paycheck Protection Program (PPP) to businesses located in low-income communities and owned by people of color. As of June 30, 2022, the organization had 113 loans outstanding, including 18 PPP loans, with a total amount of 7,359,060 dollars, including accrued interest and loan fees. By offering loans and business counseling, Community First Capital Corp plays a significant role in revitalizing communities and providing financial support to entrepreneurs and businesses, ultimately contributing to the reduction of poverty and the strengthening of local economies.
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Impact
October, 2024
Community First Capital Corp plays a significant role in revitalizing deteriorated communities and supporting businesses in Pennsylvania and Central Pennsylvania. By providing access to loans for individuals and businesses, it fosters job creation and enhances affordable housing options in areas that need it most. The organization focuses on helping those living or working in impoverished neighborhoods, thereby making a direct impact on reducing poverty levels.
In response to the challenges posed by the COVID-19 pandemic, Community First Capital Corp adapted its approach by promoting the SBA Paycheck Protection Program specifically for businesses in low-income communities and those owned by people of color. This shift not only supported local economies during a critical time but also worked towards reducing economic disparities.
As of June 30, 2022, the organization had 113 loans outstanding, including 18 Paycheck Protection Program loans, totaling over $7.3 million. These loans are an essential tool for community development, empowering entrepreneurs with the financial resources they need to thrive. Ultimately, Community First Capital Corp's initiatives contribute to economic stability, community improvement, and a reduction of government burdens through enhanced self-sufficiency.
This information is meant to be a general summary of Community First Capital Corp. 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: $474,502
- Gross Receipts: $474,502
Assets and Liabilities:
- Total Assets: $7,763,704
- Total Liabilities: $7,563,704
- Net Assets: $200,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$451,535
LOAN AND SERVICE FEES
Revenue
$22,967
Organization Details
Founding Year
2003
Phone
(717) 393-2351Principal Officer
Michael Carper
Main Address
PO BOX 524, LANCASTER, PA, 176080524
NTEE Category
Code: S31 - Community improvement
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