Cdcli Funding Corporation
- Assets
- $9.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Melville, NY
- Founding
- 03/1998
- Data as of
- 12/2022
- EIN
- 11-3418906
Organization Overview
Cdcli Funding Corporation is located in Melville, NY. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cdcli Funding Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Cdcli Funding Corporation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $216.8k during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CDCLI FUNDING CORP. OFFERS RESIDENTIAL LOAN PRODUCTS WHICH ASSIST FIRST-TIME BUYERS IN PURCHASING A HOME AND EXISTING HOMEOWNERS WITH NEEDED REPAIRS & IMPROVEMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE EXPENSES INCURRED IN CONNECTION WITH OVERSEEING ALL OPERATIONAL ASPECTS OF THE CDFI. OUTREACH, EDUCATION, LOAN PROCESS, UNDERWRITING, CLOSING AND LOAN MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne-Marie Scheidt Chair | OfficerTrustee | 1 | $0 |
Gwen O'shea President/ceo | OfficerTrustee | 2 | $0 |
James Coughlan Board Member | Trustee | 1 | $0 |
Marian Conway Board Member | Trustee | 1 | $0 |
Theresa Sanders Vice Chair | Trustee | 1 | $0 |
Brian Clarke Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $275,000 |
| Government grants | $1,038,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,313,000 |
| Total Program Service Revenue | $213,404 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,526,404 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,972 |
| Pension plan accruals and contributions | $718 |
| Other employee benefits | $0 |
| Payroll taxes | $870 |
| Fees for services: Management | $169,406 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $355 |
| Total functional expenses | $216,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $509,540 |
| Savings and temporary cash investments | $531,285 |
| Pledges and grants receivable | $75,000 |
| Accounts receivable, net | $1,310,193 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,213,765 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $64,074 |
| Other assets | $0 |
| Total assets | $9,703,857 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $591,779 |
| Other liabilities | $5,427,935 |
| Total liabilities | $6,019,714 |
| Net assets without donor restrictions | $3,509,235 |
| Net assets with donor restrictions | $174,908 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,703,857 |