Overview
What is Community Development Finance?
Community Development Finance is a nonprofit organization situated in Oakland, California, with a focus on serving low-income community residents. Their mission is to enhance financial accessibility by increasing the availability of capital in underprivileged areas. Through their operations, they provide essential services like low-cost check cashing, financial coaching, social assistance, and small business aid. Additionally, they strive to facilitate better relationships with financial institutions within low-income communities. The organization employs a team of three dedicated individuals.
Is Community Development Finance legitimate?
Community Development Finance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Development Finance 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: $235,067
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What is the mission statement of Community Development Finance?
Community Development Finance aims to augment the availability of capital and enhance access to financial institutions for residents in low-income communities. To accomplish this goal, they develop and manage low-cost check cashing services, financial coaching, social services, and small business assistance programs for this demographic. The organization's mission is centered around empowering these communities by providing them with essential financial tools and resources.
What is the revenue of Community Development Finance?
Community Development Finance's revenue in 2023 was $7,001,618.
Who are the executives of Community Development Finance and what are their salaries?
The average compensation at Community Development Finance during 2023 was $78,356. There are 3 employees at Community Development Finance.
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Where can I find the form 990 for Community Development Finance?
Community Development Finance's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Community Development Finance
Community Development Finance, as a nonprofit organization, is committed to expanding the accessibility of capital and financial institutions in low-income communities. Their mission is to bridge the financial gap in these communities, ensuring that residents have the necessary resources to thrive. To accomplish this, Community Development Finance offers a variety of services, including low-cost check cashing, financial coaching, social services, and small business assistance. These offerings are designed to empower low-income community residents, helping them navigate financial challenges and build a solid financial foundation. By providing these essential services, Community Development Finance is working towards creating more equitable opportunities in these communities.
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Impact
October, 2024
Community Development Finance significantly enhances the economic landscape in low-income communities by increasing access to capital and financial services. By establishing low-cost check cashing services, it addresses a critical need for financial alternatives that are often inaccessible to residents of these areas. This accessibility is crucial for individuals who may lack traditional banking options or who find them financially burdensome.
The organization also provides financial coaching, equipping community residents with the necessary tools and knowledge to manage their finances effectively. This empowerment leads to improved financial literacy, enabling individuals to make informed decisions regarding their economic futures. By offering social services and small business assistance, Community Development Finance fosters entrepreneurship and economic growth within the community, creating job opportunities and stimulating local economies.
In Oakland, CA, the positive impact of Community Development Finance is evident in its commitment to community improvement. By bridging the gap between low-income residents and financial institutions, the organization not only enhances individual financial well-being but also contributes to the overall vitality of the community, fostering resilience and sustainable development.
This information is meant to be a general summary of Community Development Finance. 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: $29,875
- Program Service Revenue: $210,729
- Gross Receipts: $7,001,618
Assets and Liabilities:
- Total Assets: $1,351,035
- Total Liabilities: $875,491
- Net Assets: $475,544
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CHECK-CASHING REVENUES
Revenue
$47,840
MISC. INCOME
PROGRAM INCOME
Revenue
$162,889
Organization Details
Founding Year
1998
Principal Officer
Daniel M Leibsohn
NTEE Category
Code: S20 - Community improvement
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