Community Loan Fund Of New Jersey
- Assets
- $216.8m
- Revenue
- $22.0m
- Investments
- $8.7m
- Employees
- 90
- Location
- New Brunswick, NJ
- Founding
- 05/1988
- Data as of
- 09/2021
- EIN
- 22-2872262
Organization Overview
Community Loan Fund Of New Jersey is located in New Brunswick, NJ. The organization was established in 1988. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Community Loan Fund Of New Jersey employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Loan Fund Of New Jersey 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 09/2021, Community Loan Fund Of New Jersey generated $22.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $14.2m during the year ending 09/2021. While expenses have increased by 7.4% 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.
Since 2015, Community Loan Fund Of New Jersey has awarded 51 individual grants totaling $3,785,519. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO TRANSFORM AT-RISK COMMUNITIES THROUGH STRATEGIC INVESTMENTS CAPITAL AND KNOWLEDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LOAN FUND OF NEW JERSEY (CLFNJ) TRANSFORMS AT-RISKCOMMUNITIES THROUGH STRATEGIC INVESTMENTS OF CAPITAL AND KNOWLEDGE. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Meyer President (until 6/30/21) | OfficerTrustee | 34 | $328,133 |
Marie Mascherin Chief Operating Officer | Officer | 30 | $229,863 |
Jacqueline Robinson Interim President And CFO | Officer | 34 | $226,088 |
Mark Munley Director Spec. Proj. & Gov. Rs | Officer | 15 | $179,920 |
Jorge Cruz Until 4921 Chief External Affairs Officer | Officer | 40 | $161,023 |
Hanaa Hamdi Health Impact Investment Strategies And Partnershi | Officer | 40 | $160,223 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Provenance Portfolio Management Llc Investment Services | 9/29/21 | $139,068 |
Kpmg Llp Audit Services | 9/29/21 | $398,500 |
Gibbons Pc Legal Services | 9/29/21 | $150,265 |
Tax Advantage Group Consulting Services | 9/29/21 | $262,000 |
Cherry Bekaert Llp Consulting Services | 9/29/21 | $210,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,065,765 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,086,026 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,151,791 |
| Total Program Service Revenue | $7,611,902 |
| Investment income | $605,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$8,046 |
| Net Gain/Loss on Asset Sales | $686,036 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,047,293 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $466,484 |
| Grants and other assistance to domestic individuals. | $115,054 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,852,744 |
| Compensation of current officers, directors, key employees. | $303,702 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,114,680 |
| Pension plan accruals and contributions | $106,686 |
| Other employee benefits | $463,872 |
| Payroll taxes | $358,625 |
| Fees for services: Management | $311,937 |
| Fees for services: Legal | $205,240 |
| Fees for services: Accounting | $260,476 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $272,844 |
| Fees for services: Other | $431,768 |
| Advertising and promotion | $30,144 |
| Office expenses | $341,649 |
| Information technology | $464,977 |
| Royalties | $0 |
| Occupancy | $285,729 |
| Travel | $24,673 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,834 |
| Interest | $3,394,915 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,614 |
| Insurance | $101,243 |
| All other expenses | $0 |
| Total functional expenses | $14,202,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,468,163 |
| Savings and temporary cash investments | $16,122,399 |
| Pledges and grants receivable | $1,299,369 |
| Accounts receivable, net | $813,611 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $100,456,671 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $57,249 |
| Net Land, buildings, and equipment | $438,257 |
| Investments—publicly traded securities | $32,439,333 |
| Investments—other securities | $8,658,112 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,087,895 |
| Total assets | $216,841,059 |
| Accounts payable and accrued expenses | $914,518 |
| Grants payable | $0 |
| Deferred revenue | $1,056,200 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,891,011 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $130,223,308 |
| Other liabilities | $304,001 |
| Total liabilities | $144,389,038 |
| Net assets without donor restrictions | $34,836,079 |
| Net assets with donor restrictions | $37,615,942 |
| 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 | $216,841,059 |
Grants Awarded
Over the last fiscal year, Community Loan Fund Of New Jersey has awarded $466,484 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Trenton, NJ PURPOSE: YOUTH EMPLOYMENT PROGRAMS | $279,267 |
COMMUNITY ASSET PRESERVATION CORPORATION PURPOSE: REHABILITATION OF HOMES | $176,079 |
Secaucus, NJ PURPOSE: YOUTH PROGRAMS | $11,138 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Community Loan Fund Of New Jersey has recieved totaling $1,805,746.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $1,000,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: DOWNTOWN NEWARK REVITALIZATION | $300,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $130,000 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $75,128 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $75,128 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 76116 SUPPORTING THE PARTNERSHIP TO INVEST IN TRAN | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Venture Michigan Fund New York, NY | $423,885,343 | $78,875,591 |
Community Loan Fund Of New Jersey New Brunswick, NJ | $216,841,059 | $22,047,293 |
Resolution Project Inc New York, NY | $959,499 | $1,878,975 |
One Hundred Black Men New York, NY | $1,621,629 | $1,558,078 |
Fishtown Kensington Area Business Improvement District Inc Philadelphia, PA | $471,400 | $763,974 |
Arden Local Development Corporation Middletown, NY | $5,083,817 | $416,959 |
Blueprint Org Inc New York, NY | $0 | $540,000 |
Raise A Glass Foundation Inc Webster, NY | $40,667 | $336,657 |
Invest Pgh Pittsburgh, PA | $6,268,905 | $1,344,305 |
Operation Our Town Altoona, PA | $262,216 | $357,697 |
Joe And Sue Degeorge Foundation Inc Branchport, NY | $3,638 | $251,502 |
In-2-Market Inc Pittsburgh, PA | $472,102 | $212,780 |