Overview
What is Enterprise Community Loan Fund Inc?
Enterprise Community Loan Fund Inc, based in Columbia, Maryland, is a certified non-profit Community Development Financial Institution (CDFI) headed by ECLF. This organization, recognized by the U.S. Department of Treasury, specializes in delivering innovative financial products and technical assistance to organizations, enabling them to acquire, develop, and preserve affordable housing. By doing so, ECLF aims to revitalize communities.
Official website here: www.enterprisecommunity.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Enterprise Community Loan Fund Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization has achieved an impressive program expense ratio of 90.75%, reflecting a strong commitment to using its resources effectively to fulfill its mission. Additionally, the charity's board composition is noteworthy, with a majority of independent members, which enhances governance and transparency.
The organization demonstrates good practices in various governance areas, including having a whistleblower policy and a documented conflict of interest policy. The financial management appears sound, as there are no reported material diversions of assets, and the financial statements undergo thorough auditing and oversight. However, the charity faces a concern with its liabilities to assets ratio, scoring 0 out of 15 points, which could indicate potential financial risks that need addressing.
Overall, while Enterprise Community Loan Fund Inc shows strengths in accountability and operational efficiency, its financial structure warrants attention. The organization is effectively using its resources to support its objectives, but the liabilities may pose challenges to its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Enterprise Community Loan Fund Inc legitimate?
Enterprise Community Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Enterprise 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: $1,454,174
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,123,683
For more financial information, click here
Official website here: www.enterprisecommunity.com
What is the mission statement of Enterprise Community Loan Fund Inc?
Enterprise Community Loan Fund Inc is a non-profit organization serving as a Community Development Financial Institution (CDFI). Based in the United States and certified by the U.S. Department of Treasury, this institution specializes in delivering innovative financial products and technical assistance to help organizations acquire, develop, and preserve affordable housing. Their primary goal is to revitalize communities through these initiatives, improving the living conditions for numerous individuals. By providing financial solutions tailored to affordable housing projects, ECLF contributes significantly to the betterment of communities and the people they serve.
Official website here: www.enterprisecommunity.com
What is the revenue of Enterprise Community Loan Fund Inc?
Enterprise Community Loan Fund Inc's revenue in 2023 was $36,120,781.
Official website here: www.enterprisecommunity.com
Who are the executives of Enterprise Community Loan Fund Inc and what are their salaries?
The average compensation at Enterprise Community Loan Fund Inc during 2023 was $97,401. There are 47 employees and 4 volunteers at Enterprise Community Loan Fund Inc.
Here are 19 key members and their salaries:
- Compensation: $0
- Related: $865,253
- Other: $34,773
- Compensation: $0
- Related: $538,609
- Other: $31,081
- Compensation: $0
- Related: $486,453
- Other: $56,834
- Compensation: $450,187
- Related: $0
- Other: $34,205
- Compensation: $308,986
- Related: $0
- Other: $47,649
- Compensation: $288,357
- Related: $0
- Other: $50,508
- Compensation: $0
- Related: $327,532
- Other: $7,249
- Compensation: $277,080
- Related: $0
- Other: $32,899
- Compensation: $0
- Related: $248,570
- Other: $12,827
- Compensation: $0
- Related: $250,000
- Other: $0
- Compensation: $199,779
- Related: $0
- Other: $40,924
- Compensation: $177,162
- Related: $0
- Other: $41,262
- Compensation: $194,077
- Related: $0
- Other: $23,231
- Compensation: $187,412
- Related: $0
- Other: $22,072
- Compensation: $165,198
- Related: $0
- Other: $41,549
- 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.enterprisecommunity.com
Where can I find the form 990 for Enterprise Community Loan Fund Inc?
Enterprise Community Loan Fund Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.enterprisecommunity.com
Learn more at the official website: www.enterprisecommunity.com
Mission Statement of Enterprise Community Loan Fund Inc
Enterprise Community Loan Fund (ECLF), a non-profit Community Development Financial Institution (CDFI) based in Maryland, is on a mission to deliver innovative financial products and technical assistance to organizations. These organizations seek to acquire, develop, and preserve quality affordable housing and revitalize communities. By doing so, ECLF plays a crucial role in promoting sustainable, affordable living solutions and enhancing community development.
As a certified CDFI by the U.S. Department of Treasury, ECLF specializes in providing capital and expertise to help organizations bring their affordable housing projects to fruition. Its unique approach combines financial resources with technical assistance, enabling organizations to create and maintain affordable housing options for those in need. This, in turn, contributes to the overall improvement of communities and the lives of their residents.
ECLF's mission is driven by its commitment to fostering positive change and ensuring access to affordable housing for all. Through its financial products and technical assistance, the organization empowers developers, community leaders, and other organizations to make a meaningful impact on the affordable housing landscape. With a focus on innovation and sustainability, ECLF is a catalyst for transforming communities and improving the lives of countless individuals.
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Impact
October, 2024
Enterprise Community Loan Fund Inc (ECLF) delivers innovative financial products and technical assistance aimed at enhancing the quality and availability of affordable housing. By providing strategic funding and support, ECLF empowers organizations to acquire, develop, and preserve quality affordable housing, thereby significantly contributing to community revitalization efforts. Through its initiatives, ECLF not only addresses housing shortages but also fosters sustainable development and economic growth in neighborhoods. Its work creates a tangible impact by improving living conditions, increasing community stability, and supporting the broader goal of equitable access to housing.
This information is meant to be a general summary of Enterprise 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: $4,813,873
- Program Service Revenue: $20,055,842
- Gross Receipts: $36,120,781
Assets and Liabilities:
- Total Assets: $426,085,407
- Total Liabilities: $306,594,252
- Net Assets: $119,491,155
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$18,680,412
LOAN FEE INCOME
Revenue
$1,375,430
Organization Details
Founding Year
1990
Principal Officer
Elise Balboni
Website
www.enterprisecommunity.comNTEE Category
Code: L20 - Housing
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