Overview
What is Community Loan Fund Of The Capital Region Inc?
Community Loan Fund of the Capital Region Inc is a community development financial institution situated in Albany, New York, at 255 Orange Street. Their primary mission is to link socially concerned investors with community needs by providing affordable housing, community, and economic development loans to nonprofit organizations, small businesses, and low-moderate income individuals. With a team of 16 employees, they offer technical assistance to further support their mission, aiming to foster economic growth and improve living conditions within the community.
Official website here: www.mycommunityloanfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Community Loan Fund of the Capital Region Inc has received an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. Their score is derived entirely from their excellent performance in the Accountability & Finance category, which reflects their commitment to transparency and responsible management of resources.
Strengths highlighted in the evaluation include a fully independent board with a robust size, as well as effective oversight through a well-structured Audit and Oversight Committee. The organization has no material diversions of assets, demonstrating strong financial integrity. Furthermore, they have comprehensive policies in place regarding conflicts of interest, whistleblower protections, and document retention.
While the rating reflects a solid operational framework, further insights into the programmatic impact and community engagement could provide a more complete picture of the nonprofit's overall effectiveness. However, the high program expense ratio of over 92% indicates that the vast majority of their funds are directed towards their mission-driven activities.
This AI summary has been generated from information found on Charity Navigator.
Is Community Loan Fund Of The Capital Region Inc legitimate?
Community Loan Fund Of The Capital Region Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Loan Fund Of The Capital Region 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: $113,453
Professional Fundraising Fees: $0
Other Salaries and Wages: $653,077
For more financial information, click here
Official website here: www.mycommunityloanfund.org
What is the mission statement of Community Loan Fund Of The Capital Region Inc?
The Community Loan Fund of the Capital Region Inc. serves as a Community Development Financial Institution, connecting socially-minded investors with community needs. They achieve this by providing affordable housing, community, and economic development loans to nonprofit organizations, small businesses, and low/moderate income individuals. Their mission is to promote growth and development within their community by offering both loans and technical assistance. This support is extended to nonprofit organizations, social enterprises, small businesses, micro enterprises, and low-income individuals, aiming to foster sustainable development and economic opportunities.
Official website here: www.mycommunityloanfund.org
Who is the CEO of Community Loan Fund Of The Capital Region Inc?
Linda Macfarlane is the Executive Di of Community Loan Fund Of The Capital Region Inc.
Official website here: www.mycommunityloanfund.org
What is the revenue of Community Loan Fund Of The Capital Region Inc?
Community Loan Fund Of The Capital Region Inc's revenue in 2022 was $2,396,345.
Official website here: www.mycommunityloanfund.org
Who are the executives of Community Loan Fund Of The Capital Region Inc and what are their salaries?
The average compensation at Community Loan Fund Of The Capital Region Inc during 2022 was $47,908. There are 16 employees at Community Loan Fund Of The Capital Region Inc.
Here are 13 key members and their salaries:
- Compensation: $113,453
- 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: $0
- Other: $0
- 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: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mycommunityloanfund.org
Where can I find the form 990 for Community Loan Fund Of The Capital Region Inc?
Community Loan Fund Of The Capital Region Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mycommunityloanfund.org
Learn more at the official website: www.mycommunityloanfund.org
Mission Statement of Community Loan Fund Of The Capital Region Inc
Community Loan Fund of the Capital Region Inc serves as a bridge between socially conscious investors and community needs. This community development financial institution (CDFI) achieves this by providing affordable housing, community, and economic development loans to nonprofit organizations, small businesses, and low/moderate income individuals. The mission of Community Loan Fund of the Capital Region Inc is to connect investors with community needs, fostering growth and development in the process. By offering financial support and technical assistance, this nonprofit organization empowers a diverse range of entities, from nonprofits to social enterprises and low-moderate income individuals, to thrive and contribute positively to their communities.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Community Loan Fund of the Capital Region Inc significantly impacts its community by facilitating affordable housing and economic development. It acts as a crucial bridge between socially minded investors and the financial needs of local organizations, small businesses, and individuals with low to moderate incomes.
By providing community and economic development loans, as well as technical assistance, it empowers social enterprises and micro-enterprises, fostering economic growth and stability in the Capital Region. Through its efforts, the organization not only enhances access to affordable housing but also stimulates job creation, supports local businesses, and contributes to the overall vitality of the community. This comprehensive approach helps create a more equitable and sustainable environment, addressing critical community needs effectively.
This information is meant to be a general summary of Community Loan Fund Of The Capital Region 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 2022.
- Investment Income: $54,829
- Program Service Revenue: $664,058
- Gross Receipts: $2,396,345
Assets and Liabilities:
- Total Assets: $26,693,595
- Total Liabilities: $12,800,331
- Net Assets: $13,893,264
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST & FEES ON LOANS
Revenue
$633,686
ACES MANAGEMENT FEE
Revenue
$18,000
TRAINING
Revenue
$12,372
Organization Details
Founding Year
1985
Phone
(518) 436-8586Principal Officer
Linda Macfarlane
Main Address
255 ORANGE STREET, ALBANY, NY, 12210
Website
www.mycommunityloanfund.orgNTEE Category
Code: L80J - Housing
If you are a representative of Community Loan Fund Of The Capital Region Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.