Overview
What is Baltimore Community Lending Inc?
Baltimore Community Lending Inc. is a nonprofit organization situated in Baltimore, Maryland, specifically at 875 Hollins Street, with a mission to revitalize and strengthen underserved neighborhoods in the city. They accomplish this by providing flexible and innovative financial assistance, thereby fostering community development. The organization manages and services approximately 500 community development loan assets worth around $15 million, which contribute to over 400 affordable housing units. Baltimore Community Lending also offers counseling and advice to existing borrowers on loan compliance best practices and helps struggling borrowers identify potential remedies in the face of payment or performance challenges. The organization currently employs 12 individuals.
Official website here: www.bclending.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%
Baltimore Community Lending Inc has achieved an impressive Four-Star out of Four Star rating, reflecting a strong emphasis on accountability and finance. The organization scored 90% in its overall assessment, showcasing a solid performance in managing its financial resources and ensuring transparency. This high rating is critical as it highlights the trustworthiness and reliability of the nonprofit in its operations.
One of the standout features of Baltimore Community Lending is its governance structure, with 91% of its board members being independent, which fosters objective decision-making. The organization has also established robust policies and procedures, including a conflict of interest policy and a whistleblower policy, ensuring ethical conduct and accountability within its operations. The absence of any material diversion of assets further enhances its credibility.
While the financial health of the organization is commendable, with a program expense ratio of 79.43% and a working capital ratio of 5.11 years, stakeholders should continuously monitor its performance to maintain these high standards. Overall, Baltimore Community Lending Inc emerges as a well-managed nonprofit dedicated to its mission, with strong financial practices and governance in place.
This AI summary has been generated from information found on Charity Navigator.
Is Baltimore Community Lending Inc legitimate?
Baltimore Community Lending Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Baltimore Community Lending 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,359,641
For more financial information, click here
Official website here: www.bclending.org
What is the mission statement of Baltimore Community Lending Inc?
Baltimore Community Lending Inc's mission is centered around supporting the revitalization and strengthening of underserved communities. They achieve this by providing innovative and flexible financial assistance, designed to foster community development. This assistance is instrumental in revitalizing neighborhoods and improving the living conditions of its residents. The organization manages a community development loan portfolio, with approximately 500 assets totaling around $15 million, which represents over 400 affordable housing units. They also offer counsel and advice to existing borrowers regarding loan compliance best practices and assist struggling borrowers in identifying available remedies during payment and performance challenges.
Official website here: www.bclending.org
Who is the CEO of Baltimore Community Lending Inc?
Watchen Harris Bruce is the Vice Chair of Baltimore Community Lending Inc. The CEO's salary of Baltimore Community Lending Inc is $144,157 and their total compensation is $144,157.
Official website here: www.bclending.org
What is the revenue of Baltimore Community Lending Inc?
Baltimore Community Lending Inc's revenue in 2022 was $4,977,119.
Official website here: www.bclending.org
Who are the executives of Baltimore Community Lending Inc and what are their salaries?
The average compensation at Baltimore Community Lending Inc during 2022 was $113,303. There are 12 employees and 16 volunteers at Baltimore Community Lending Inc.
Here are 13 key members and their salaries (Baltimore Community Lending Inc's CEO's salary is $144,157 and their total compensation is $144,157):
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- Compensation: $144,157
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- Compensation: $111,203
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Official website here: www.bclending.org
Where can I find the form 990 for Baltimore Community Lending Inc?
Baltimore Community Lending Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bclending.org
Learn more at the official website: www.bclending.org
Mission Statement of Baltimore Community Lending Inc
Baltimore Community Lending Inc is dedicated to supporting the revitalization and strengthening of underserved neighborhoods in Baltimore. They accomplish this mission by providing innovative and flexible financial assistance designed to foster community development. This organization manages a community development loan portfolio, which includes approximately 500 assets totaling around $15 million. These assets represent more than 400 affordable housing units. Baltimore Community Lending Inc also offers counsel and advice to existing borrowers regarding loan compliance best practices and assists struggling borrowers in identifying available remedies in the event of payment or performance challenges.
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Impact
July, 2024
Baltimore Community Lending Inc plays a crucial role in supporting revitalization and strengthening underserved neighborhoods in Baltimore. This organization manages a sizeable community development loan portfolio, totaling approximately $15 million and encompassing over 400 affordable housing units. They provide essential counseling and guidance to borrowers to ensure loan compliance best practices and offer assistance to those facing payment or performance challenges. Through their innovative and flexible financial assistance, Baltimore Community Lending contributes significantly to fostering community development and improving the quality of life in neighborhoods that need it most.
This information is meant to be a general summary of Baltimore Community Lending 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: $15,967
- Program Service Revenue: $1,587,538
- Gross Receipts: $5,102,241
Assets and Liabilities:
- Total Assets: $32,545,900
- Total Liabilities: $16,295,605
- Net Assets: $16,250,295
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON NOT
Revenue
$1,235,902
FEE INCOME AND OTHER
Revenue
$351,636
Organization Details
Founding Year
1989
Phone
(410) 727-8590Principal Officer
Watchen Harris Bruce
Main Address
875 HOLLINS STREET, BALTIMORE, MD, 21201
Website
www.bclending.orgNTEE Category
Code: S310 - Community improvement
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