Overview
What is Community First Lending?
Community First Lending is a nonprofit organization situated in Richmond, California, with the primary mission of supporting Community Housing Development Corporation of North Richmond (CHDC). They accomplish this by obtaining funding from various sources, including federal, state, and local governments, as well as private entities. This capital is utilized to provide financing for the development of affordable housing for low and moderate-income individuals. Furthermore, they establish a revolving loan fund that lends money to eligible households to assist with the purchase of affordable housing or communities, contributing to one of CHDC's charitable objectives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
Community First Lending has received a solid rating of 80%, reflecting a commendable performance in accountability and finance as well as a strong culture and community score. The organization's financial management is highlighted by a program expense ratio of 74.69%, indicating that a significant portion of funds is directed towards its mission-driven activities. Additionally, the charity boasts a fully independent board and has established policies to address conflicts of interest and protect whistleblowers.
Strengths of Community First Lending include its high marks for organizational governance, with 100% independent board members and a commitment to transparency, evidenced by the availability of board meeting minutes. The organization demonstrates a strong commitment to equity strategies, scoring 95 out of 100 in this area, which suggests a focus on inclusivity and social justice in its lending practices.
While the charity performs well overall, there may still be room for improvement in its accountability score of 77, which indicates some potential areas that could be enhanced for greater financial transparency or operational efficiency. However, the strengths of Community First Lending significantly outweigh these limitations, making it a reputable organization in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Community First Lending legitimate?
Community First Lending is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community First Lending 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: $137,814
For more financial information, click here
What is the mission statement of Community First Lending?
Community First Lending is established with the objective of supporting Community Housing Development Corporation of North Richmond (CHDC) in fulfilling its charitable purposes. The corporation secures capital from various sources, including federal, state, and local governments, as well as private ones. This capital is utilized to provide financing for low-income housing. The ultimate goal is to establish a revolving loan fund, which will offer loans to low-income households, aiding them in purchasing affordable housing or communities, thereby furthering one of CHDC's charitable objectives.
Who is the CEO of Community First Lending?
Jenny Hicks is the President of Community First Lending.
What is the revenue of Community First Lending?
Community First Lending's revenue in 2022 was $77,682.
Who are the executives of Community First Lending and what are their salaries?
Here are 8 key members and their salaries:
- 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
Where can I find the form 990 for Community First Lending?
Community First Lending's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community First Lending
Community First Lending is a corporation established with the primary objective of assisting and supporting the Community Housing Development Corporation of North Richmond (CHDC) in achieving its charitable purposes. Specifically, Community First Lending secures funding from various sources, including federal, state, and local governments, and private entities, to help provide financing for low-income and moderate-income housing. This mission is carried out by establishing a revolving loan fund, which in turn provides loans to eligible households seeking to purchase affordable housing or communities. This initiative by Community First Lending aligns with one of CHDC's key charitable objectives, thereby contributing to the overall goal of providing housing solutions for those with limited financial resources.
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 First Lending significantly impacts the housing landscape by providing essential financing options for low and moderate-income households. By establishing a revolving loan fund, it facilitates access to affordable housing, thereby enabling families to secure homeownership opportunities that might otherwise be out of reach. This financing not only supports individual households but also contributes to the broader community development initiatives led by the Community Housing Development Corporation of North Richmond (CHDC).
Through capital secured from various federal, state, and local sources, Community First Lending plays a crucial role in making affordable housing a reality. Its efforts help stabilize and uplift communities, fostering economic growth and enhancing the quality of life for residents. By focusing on financing solutions tailored to those in need, the organization directly addresses housing inequities and strives to create lasting change in Richmond, CA, and beyond.
This information is meant to be a general summary of Community First Lending. 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: $43,682
- Gross Receipts: $77,682
Assets and Liabilities:
- Total Assets: $2,704,680
- Total Liabilities: $1,695,695
- Net Assets: $1,008,985
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 (Loans)
Revenue
$31,619
Other fees
Revenue
$12,063
Organization Details
Phone
(510) 412-9290Principal Officer
Jenny Hicks
Main Address
1535 Fred Jackson Way, Richmond, CA, 94801
NTEE Category
Code: L20 - Housing
If you are a representative of Community First Lending 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.