Overview
What is New Hampshire Community Loan Fund Inc?
New Hampshire Community Loan Fund Inc is a catalyst nonprofit organization based in New Hampshire, dedicated to empowering underprivileged individuals by providing them with the resources to attain affordable homes, quality jobs, and essential childcare services. Through lending, capital, and technical assistance, they complement and extend the reach of conventional lenders and public institutions, and facilitate problem-solving collaborations between people and institutions. Established in 1983, the Community Loan Fund is recognized as a national leader in innovation, social impact, financial strength, and performance. Recipient of the prestigious Next Award for Opportunity Finance in 2009, the organization has a rich history of serving the community and making a difference in people's lives.
Official website here: www.communityloanfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating
New Hampshire Community Loan Fund Inc has received a solid three-star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization excels in maintaining an independent board with 93% of its members being independent, ensuring unbiased governance. It has also demonstrated effective oversight with comprehensive financial statements and no reported material diversion of assets.
The fund showcases commendable transparency through policies like conflict of interest, whistleblower protection, and document retention. Notably, its program expense ratio is impressive at 89.28%, indicating that a significant portion of its expenditures directly supports its programs, which enhances its credibility as a nonprofit aimed at community improvement.
Despite its strengths, the single beacon score may limit the assessment to financial aspects, leaving out potential insights into programmatic outcomes or overall impact. However, the organization's strong governance and financial practices provide a solid foundation for its operations and mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Hampshire Community Loan Fund Inc legitimate?
New Hampshire Community Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Hampshire Community 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: $453,150
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,903,397
For more financial information, click here
Official website here: www.communityloanfund.org
What is the mission statement of New Hampshire Community Loan Fund Inc?
The New Hampshire Community Loan Fund Inc functions as a catalyst, utilizing financial, human, and civic resources to help traditionally underserved individuals attain affordable homes, quality jobs, child care, and financial independence. They achieve this by providing loans, capital, and technical assistance; extending the reach of conventional lenders and public institutions; and bringing people and institutions together to solve problems. Established in 1983, the Community Loan Fund was among the first community development financial institutions in the nation and is recognized for its innovation, social impact, financial strength, and performance. The organization was the recipient of the 2009 Next Award for Opportunity Finance, the highest honor in their field.
Official website here: www.communityloanfund.org
Who is the CEO of New Hampshire Community Loan Fund Inc?
Steve Saltzman is the President & Ceo of New Hampshire Community Loan Fund Inc. The CEO's salary of New Hampshire Community Loan Fund Inc is $211,323 and their total compensation is $240,278.
Official website here: www.communityloanfund.org
What is the revenue of New Hampshire Community Loan Fund Inc?
New Hampshire Community Loan Fund Inc's revenue in 2023 was $14,740,663.
Official website here: www.communityloanfund.org
Who are the executives of New Hampshire Community Loan Fund Inc and what are their salaries?
The average compensation at New Hampshire Community Loan Fund Inc during 2023 was $75,113. There are 58 employees and 15 volunteers at New Hampshire Community Loan Fund Inc.
Here are 25 key members and their salaries (New Hampshire Community Loan Fund Inc's CEO's salary is $211,323 and their total compensation is $240,278):
- Compensation: $211,323
- Related: $0
- Other: $28,955
- Compensation: $151,958
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- Other: $24,260
- Compensation: $131,623
- Related: $0
- Other: $29,167
- Compensation: $122,928
- Related: $0
- Other: $22,071
- Compensation: $117,643
- Related: $0
- Other: $25,626
- Compensation: $122,684
- Related: $0
- Other: $8,227
- Compensation: $101,213
- Related: $0
- Other: $17,019
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Official website here: www.communityloanfund.org
Where can I find the form 990 for New Hampshire Community Loan Fund Inc?
New Hampshire Community Loan Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.communityloanfund.org
Learn more at the official website: www.communityloanfund.org
Mission Statement of New Hampshire Community Loan Fund Inc
New Hampshire Community Loan Fund Inc, a recognized national leader in community development finance, is dedicated to empowering traditionally underserved individuals to attain affordable homes, quality jobs, and child care, enabling them to become financially independent. The organization achieves this mission through various means: providing loans, capital, and technical assistance, extending the reach of conventional lenders and public institutions, and bringing together people and institutions to solve problems.
Established in 1983, New Hampshire Community Loan Fund Inc was among the first community development financial institutions in the nation. With a focus on innovation, social impact, financial strength, and performance, the organization has garnered the highest honor in its field, the Next Award for Opportunity Finance, in 2009. The organization's commitment to serving the community is evident in its diverse range of initiatives.
Through the provision of loans, capital, and technical assistance, New Hampshire Community Loan Fund Inc offers a vital lifeline to individuals who may otherwise struggle to access these essential resources. By complementing and extending the reach of conventional lenders and public institutions, the organization bridges gaps in financing and support. Moreover, by fostering collaboration between people and institutions, New Hampshire Community Loan Fund Inc facilitates the resolution of complex problems, paving the way for lasting change and improved livelihoods.
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Impact
October, 2024
New Hampshire Community Loan Fund Inc significantly impacts traditionally underserved populations by empowering them to achieve financial independence through homeownership, quality jobs, and reliable child care. By providing loans, capital, and technical assistance, this organization expands access to resources for individuals and communities often overlooked by conventional lenders and public institutions.
Established as one of the first community development financial institutions in the nation, New Hampshire Community Loan Fund Inc has become a national leader recognized for its innovative approaches and measurable social impact. It serves as a catalyst for economic participation in New Hampshire, bringing together various stakeholders to collaboratively address barriers and enhance opportunities.
The organization’s commitment to fostering affordable housing and job creation not only addresses immediate needs but also lays the foundation for long-term economic stability in communities. By leveraging financial, human, and civic resources, it cultivates an environment where underserved individuals can thrive and contribute to the broader economy, promoting community improvement and resilience.
This information is meant to be a general summary of New Hampshire Community 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: $252,142
- Program Service Revenue: $10,876,065
- Gross Receipts: $14,740,663
Assets and Liabilities:
- Total Assets: $189,182,393
- Total Liabilities: $148,233,689
- Net Assets: $40,948,704
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST FROM LOANS
Revenue
$10,422,640
LOAN RELATED FEES
Revenue
$425,074
TRAINING AND OTHER FEES
Revenue
$28,351
Organization Details
Founding Year
1983
Phone
(603) 224-6669Principal Officer
Steve Saltzman
Main Address
7 WALL STREET, CONCORD, NH, 03301
Website
www.communityloanfund.orgNTEE Category
Code: S31 - Community improvement
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