Overview
What is Vermont Community Loan Fund?
Vermont Community Loan Fund is a mission-driven, community-focused alternative lender situated in Montpelier, Vermont. The organization provides loans to local businesses, community organizations, nonprofits, childcare providers, and developers of affordable housing who may not meet the criteria for traditional lenders. Alongside financial aid, they offer consulting and business development services to empower their borrowers with the necessary tools for success. The primary objective of Vermont Community Loan Fund is to foster opportunities that contribute to thriving communities and financial stability for all Vermonters. With a team of 25 dedicated individuals, they strive to make a positive impact on their community.
Official website here: www.vclf.org
What are the reviews and ratings of this charity?
Charity Navigator rates the Vermont Community Loan Fund at 89%, granting it a Three-Star out of Four Star rating. This score reflects a strong performance in Accountability & Finance, which stands at 83%, and an excellent score of 95% in Culture & Community. The organization showcases robust governance practices, with 100% of its board members being independent and a high degree of transparency in financial practices.
The organization excels in key areas such as program expense ratio, maintaining an impressive 81.13%, which indicates a significant portion of its resources is directed towards its mission. Moreover, it has demonstrated effective mechanisms for collecting and utilizing feedback, scoring 100% in both categories. Their commitment to equity is also notable, with an Equity Strategies Score of 93, indicating a proactive approach to inclusivity.
Despite these strengths, the data reveals some areas for improvement, particularly in Equity Data and Policies & Processes, where they scored slightly lower. This suggests potential for enhancing their strategies related to equity. Overall, the Vermont Community Loan Fund appears to be a well-managed organization with a strong community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Vermont Community Loan Fund legitimate?
Vermont Community Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vermont Community Loan Fund 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: $196,692
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,084,650
For more financial information, click here
Official website here: www.vclf.org
What is the mission statement of Vermont Community Loan Fund?
The Vermont Community Loan Fund, being a mission-driven and community-focused alternative lender, aims to create opportunities that foster healthy communities and financial stability for all Vermonters. The organization extends loans to local businesses, community organizations, nonprofits, childcare providers, and developers of affordable housing who may not qualify for financing from traditional lenders. To ensure their borrowers' success, the Loan Fund combines its loans with financial consulting and business development services, providing them with all the necessary tools to thrive.
Official website here: www.vclf.org
Who is the CEO of Vermont Community Loan Fund?
William Belongia is the Executive Di of Vermont Community Loan Fund.
Official website here: www.vclf.org
What is the revenue of Vermont Community Loan Fund?
Vermont Community Loan Fund's revenue in 2022 was $3,049,200.
Official website here: www.vclf.org
Who are the executives of Vermont Community Loan Fund and what are their salaries?
The average compensation at Vermont Community Loan Fund during 2022 was $51,254. There are 25 employees at Vermont Community Loan Fund.
Here are 15 key members and their salaries:
- Compensation: $196,692
- Related: $0
- Other: $12,160
- Compensation: $119,195
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- Other: $8,285
- Compensation: $116,521
- Related: $0
- Other: $6,989
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Official website here: www.vclf.org
Where can I find the form 990 for Vermont Community Loan Fund?
Vermont Community Loan Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vclf.org
Learn more at the official website: www.vclf.org
Mission Statement of Vermont Community Loan Fund
Vermont Community Loan Fund, a mission-driven organization, is committed to creating opportunities that foster healthy communities and financial stability for all Vermonters. The nonprofit operates as an alternative lender, providing loans to local businesses, community organizations, nonprofits, childcare providers, and developers of affordable housing. These entities often struggle to secure financing from traditional lenders. In addition to offering loans, Vermont Community Loan Fund also provides financial consulting and business development services to ensure their borrowers have all the necessary tools to succeed. By combining loans with these additional resources, the organization aims to empower its borrowers and contribute to the betterment of Vermont's communities.
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Impact
October, 2024
The Vermont Community Loan Fund plays a crucial role in fostering healthy communities and financial stability throughout the state. By providing loans to local businesses, community organizations, child care providers, and affordable housing developers who might otherwise be overlooked by traditional lenders, it addresses significant gaps in access to capital.
The impact of the organization extends beyond just financial support; it includes comprehensive services such as financial consulting and business development assistance. This holistic approach ensures that borrowers have the necessary resources and guidance to thrive, effectively equipping them with the tools needed for long-term success.
By focusing on underserved sectors, the Vermont Community Loan Fund strengthens local economies, promotes the development of affordable housing, and supports essential services like child care. As a result, the Fund not only enhances the financial health of its clients but also cultivates vibrant, inclusive communities across Vermont.
This information is meant to be a general summary of Vermont Community Loan Fund. 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: $152,980
- Program Service Revenue: $1,619,684
- Gross Receipts: $3,049,200
Assets and Liabilities:
- Total Assets: $51,802,353
- Total Liabilities: $34,286,179
- Net Assets: $17,516,174
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,506,154
FINANCING CHARGES
Revenue
$89,015
ADMIN FEE INCOME
Revenue
$24,515
Organization Details
Founding Year
1987
Phone
(802) 223-1448Principal Officer
William Belongia
Main Address
PO BOX 827, MONTPELIER, VT, 05601
Website
www.vclf.orgNTEE Category
Code: L210 - Housing
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