Overview
What is Jewish Free Loan Association?
The Jewish Free Loan Association, headquartered in Los Angeles, California, is a nonprofit organization that provides interest-free loans to individuals and families in urgent need. Operating with a staff of 16, this organization offers financial assistance in various sectors, such as education, emergency needs, small businesses, and Jewish continuity. During the recent fiscal year, they granted 967 loans, and as of August 31, 2022, they had over 2,775 loans outstanding in the community. The Jewish Free Loan Association serves as a crucial bridge in our social system, providing interest-free loans instead of charity, thereby promoting self-sufficiency with dignity, allowing those in need to maintain their dignity while addressing their financial challenges.
Official website here: www.jfla.org
What are the reviews and ratings of this charity?
97% rating from Charity Navigator.
The Jewish Free Loan Association has achieved a Four-Star out of Four Star rating, indicating a high level of financial health and accountability. The organization scored particularly well in areas of culture and community, as well as leadership and adaptability, both receiving perfect scores. This is complemented by a strong 99% repayment rate for loans, showcasing the effectiveness of their lending model.
However, user feedback presents a mixed picture. While some individuals, such as a volunteer, commend the organization for its respectful treatment and support of those in need, others have reported negative experiences, describing the staff as unhelpful and derogatory. Such contrasting reviews may highlight inconsistencies in client experiences, suggesting that while the organization has solid operational metrics, client interactions may vary significantly.
Overall, the Jewish Free Loan Association demonstrates strong financial accountability and community engagement, yet it may benefit from addressing the concerns raised by some users to ensure a consistently positive experience for all clients.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Jewish Free Loan Association legitimate?
Jewish Free Loan Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jewish Free Loan Association 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: $479,491
Professional Fundraising Fees: $0
Other Salaries and Wages: $522,620
For more financial information, click here
Official website here: www.jfla.org
What is the mission statement of Jewish Free Loan Association?
The Jewish Free Loan Association offers interest-free loans to individuals and families whose urgent needs cannot be met through conventional financial resources. This organization operates on a non-sectarian basis, filling an essential gap in our social system by promoting self-sufficiency with dignity. Instead of relying on charity, interest-free loans provided by the Jewish Free Loan Association allow individuals to maintain their dignity while addressing their financial challenges. This organization's mission aims to address the financial needs of those who lack access to normal lending options, thereby contributing positively to society.
Official website here: www.jfla.org
Who is the CEO of Jewish Free Loan Association?
Rachel Grose is the President of Jewish Free Loan Association.
Official website here: www.jfla.org
What is the revenue of Jewish Free Loan Association?
Jewish Free Loan Association's revenue in 2022 was $3,433,226.
Official website here: www.jfla.org
Who are the executives of Jewish Free Loan Association and what are their salaries?
The average compensation at Jewish Free Loan Association during 2022 was $62,632. There are 16 employees and 23 volunteers at Jewish Free Loan Association.
Here are 27 key members and their salaries:
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- Compensation: $26,018
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- Other: $938
Official website here: www.jfla.org
Where can I find the form 990 for Jewish Free Loan Association?
Jewish Free Loan Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.jfla.org
Learn more at the official website: www.jfla.org
Mission Statement of Jewish Free Loan Association
The Jewish Free Loan Association offers interest-free loans to individuals and families who may not qualify for normal lending sources due to their urgent needs. This non-sectarian organization fills a vital gap in our social system by promoting self-sufficiency with dignity, rather than relying on charity. By providing interest-free loans, the Jewish Free Loan Association empowers those in need to address their financial challenges, thereby fostering a sense of independence and respect. The association believes that this approach serves as a more sustainable solution than relying solely on charity, thus upholding the values of dignity and self-sufficiency.
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Impact
July, 2024
Jewish Free Loan Association's impact lies in its ability to provide vital financial assistance to individuals and families facing urgent needs. By offering interest-free loans, JFLA helps bridge the gap for those who may not qualify for traditional lending sources. In the fiscal year from September 1, 2021, to August 31, 2022, JFLA granted 967 loans for purposes such as education, emergency expenses, small businesses, and Jewish continuity. As of August 31, 2022, the organization had over 2,775 outstanding loans in the community. Through its mission of promoting self-sufficiency with dignity, JFLA's work has a tangible and meaningful impact on the lives of those it serves in Los Angeles, California.
This information is meant to be a general summary of Jewish Free Loan Association. 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: $281,295
- Gross Receipts: $8,322,640
Assets and Liabilities:
- Total Assets: $24,119,255
- Total Liabilities: $954,786
- Net Assets: $23,164,469
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Organization Details
Founding Year
1904
Phone
(323) 761-8830Principal Officer
Rachel Grose
Main Address
6505 WILSHIRE BOULEVARD 715, LOS ANGELES, CA, 90048
Website
www.jfla.orgNTEE Category
Code: Z99Z - Unknown
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