Overview
What is Finance Fund Capital Corporation?
Finance Fund Capital Corporation, based in Columbus, Ohio, serves as a nonprofit organization that fosters public-private partnerships by offering various loan funds. Their mission is to support economic development and job creation in low-income communities. This is achieved through flexible financing options, such as the Small Business Loan Fund, Community Health Loan Fund, Healthy Foods, and SBA Community Advantage Loan Programs. By collaborating with financial institutions, investors, charitable foundations, community organizations, and government entities, Finance Fund Capital Corporation provides accessible capital, ultimately promoting growth in underprivileged areas. Their borrowers encompass community-based nonprofit organizations and for-profit businesses.
Official website here: www.financefund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% - Three-Star out of Four Star Rating
Finance Fund Capital Corporation has received a solid Three-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization boasts an impressive program expense ratio of 91.55%, indicating that the majority of its funds are directed towards its programs. Additionally, the organization has a fully independent board, which is a positive sign of governance and oversight.
The organization's financial practices are commendable, as evidenced by its perfect scores in areas such as financial statements oversight and the presence of essential policies like conflict of interest and whistleblower protections. However, it has a lower score in fundraising efficiency, which suggests that there may be room for improvement in this area to enhance overall sustainability and impact.
Despite its strengths, the liabilities to assets ratio of 65.19% could raise concerns regarding its financial leverage. While the organization maintains a healthy working capital ratio of 13.02 years, balancing asset management with liabilities will be critical for future stability. Overall, Finance Fund Capital Corporation demonstrates a solid operational foundation but can work on improving its fundraising approach to enhance its long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Finance Fund Capital Corporation legitimate?
Finance Fund Capital Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Finance Fund Capital Corporation 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: $0
For more financial information, click here
Official website here: www.financefund.org
What is the mission statement of Finance Fund Capital Corporation?
Finance Fund Capital Corporation, as a nonprofit Community Development Financial Institution (CDFI), operates with a mission to facilitate access to capital for the purpose of promoting development in low-income communities. They achieve this by forming collaborative partnerships with various entities, including financial institutions, investors, charitable foundations, community organizations, and governmental bodies at the federal, state, and local levels. These partnerships provide flexible financing that supports economic development and job creation within these communities. The borrowers of Finance Fund Capital Corporation primarily consist of community-based nonprofit organizations and for-profit businesses.
Official website here: www.financefund.org
Who is the CEO of Finance Fund Capital Corporation?
Matt Frank is the Chair of Finance Fund Capital Corporation. The CEO's salary of Finance Fund Capital Corporation is $0 and their total compensation is $454,992.
Official website here: www.financefund.org
What is the revenue of Finance Fund Capital Corporation?
Finance Fund Capital Corporation's revenue in 2022 was $4,625,312.
Official website here: www.financefund.org
Who are the executives of Finance Fund Capital Corporation and what are their salaries?
There 10 volunteers at Finance Fund Capital Corporation.
Here are 14 key members and their salaries (Finance Fund Capital Corporation's CEO's salary is $0 and their total compensation is $454,992):
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $449,992
- Other: $5,000
- Compensation: $0
- Related: $319,744
- Other: $5,000
- Compensation: $0
- Related: $286,512
- Other: $5,000
- Compensation: $0
- Related: $407,256
- Other: $5,000
Official website here: www.financefund.org
Where can I find the form 990 for Finance Fund Capital Corporation?
Finance Fund Capital Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.financefund.org
Learn more at the official website: www.financefund.org
Mission Statement of Finance Fund Capital Corporation
Finance Fund Capital Corporation, as a nonprofit Community Development Financial Institution (CDFI), works towards forming collaborative partnerships with various entities, including financial institutions, investors, charitable foundations, community organizations, and government bodies at both the federal, state, and local levels. The primary aim of this organization is to provide flexible financing that supports economic development and job creation in low-income communities. By doing so, Finance Fund Capital Corporation extends its financial support to community-based nonprofit organizations and for-profit businesses, thereby promoting development in underserved areas. The corporation's mission is to bridge the financing gap and create opportunities for growth in these communities, ultimately contributing to their overall socio-economic upliftment.
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Impact
July, 2024
Finance Fund Capital Corporation's impact lies in its mission to provide access to capital in low-income communities, thereby promoting development, economic growth, and job creation. By offering a variety of loan funds and programs such as the Small Business Loan Fund, Community Health Loan Fund, Healthy Foods programs, and SBA Community Advantage Loan Program, Finance Fund Capital Corporation facilitates public-private partnerships to support initiatives that benefit these underserved areas.
Through its work as a Community Development Financial Institution (CDFI), Finance Fund Capital Corporation collaborates with various stakeholders including financial institutions, investors, charitable foundations, community organizations, and government entities at all levels to provide flexible financing solutions. This approach helps empower community-based organizations and for-profit businesses in low-income communities to thrive and contribute to the overall economic well-being of these areas.
In summary, Finance Fund Capital Corporation's impact is evident in its efforts to bridge financial gaps, foster sustainable growth, and create opportunities for individuals and businesses in marginalized communities, ultimately promoting positive change and progress in these areas.
This information is meant to be a general summary of Finance Fund Capital Corporation. 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: $21,380
- Program Service Revenue: $2,401,432
- Gross Receipts: $4,625,312
Assets and Liabilities:
- Total Assets: $63,622,826
- Total Liabilities: $41,478,307
- Net Assets: $22,144,519
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$2,233,942
PROGRAM INCOME
Revenue
$167,490
Organization Details
Founding Year
2014
Phone
(614) 221-1114Principal Officer
Matt Frank
Main Address
366 E BROAD ST 101, COLUMBUS, OH, 43215
Website
www.financefund.orgNTEE Category
Code: T30 - Philanthropy
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