Gmiluth Chasodim
- Assets
- $3.3m
- Revenue
- $879.9k
- Investments
- $1.4m
- Employees
- 7
- Location
- Beachwood, OH
- Founding
- 03/1942
- Data as of
- 12/2021
- EIN
- 34-0281800
Organization Overview
Gmiluth Chasodim, operating under the name Hebrew Free Loan Association, is located in Beachwood, OH. The organization was established in 1942. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Hebrew Free Loan Association employed 7 individuals. This organization is the central organization for a national or regional group of organizations. Hebrew Free Loan Association 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 12/2021, Hebrew Free Loan Association generated $879.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $518.1k during the year ending 12/2021. While expenses have increased by 20.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INTEREST-FREE LOANS TO ADDRESS THE FINANCIAL CHALLENGES OF RESIDENTS OF NORTHEAST OHIO WHO LACK ACCESS TO TRADITIONAL LENDING SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN PROGRAMS
DONOR DEFINED LOAN PROGRAMS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michal Marcus Executive Di | Officer | 40 | $80,000 |
Laura Kleinman Past Preside | OfficerTrustee | $0 | |
Brian Rosenfelt Treasurer | OfficerTrustee | $0 | |
Karil Bialostocky Director | Trustee | $0 | |
Eric Kaston President | Trustee | $0 | |
Christine Weiss VP Developme | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $759,746 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $759,746 |
| Total Program Service Revenue | $0 |
| Investment income | $6,813 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $113,358 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $879,917 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $12,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $247,647 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $63,519 |
| Fees for services: Management | $0 |
| 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 | $67,339 |
| Advertising and promotion | $0 |
| Office expenses | $11,435 |
| Information technology | $3,985 |
| Royalties | $0 |
| Occupancy | $9,967 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,854 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $428 |
| Insurance | $5,541 |
| All other expenses | $22,357 |
| Total functional expenses | $518,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,005,611 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $110,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $794,199 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,284 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,387,900 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,298,994 |
| Accounts payable and accrued expenses | $6,122 |
| Grants payable | $0 |
| Deferred revenue | $11,105 |
| 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 | $0 |
| Other liabilities | $301 |
| Total liabilities | $17,528 |
| Net assets without donor restrictions | $2,578,941 |
| Net assets with donor restrictions | $702,525 |
| 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 | $3,298,994 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Gmiluth Chasodim has recieved totaling $286,840.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: 2021 CLEVELAND FOUNDATION SUMMER INTERNSHIP HOST SITE | $224,250 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $7,590 |
Peoples Bank Foundation Inc Marietta, OH PURPOSE: PROGRAM SUPPORT FOR FINANCIAL | $5,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Accesslex Institute West Chester, PA | $2,183,370,969 | $71,548,007 |
Pheaa Student Loan Foundation Inc Harrisburg, PA | $2,204,662,034 | $55,394,256 |
Credit Unions Chartered In The State Of Michigan Lansing, MI | $943,734,939 | $46,684,897 |
Credit Unions Chartered In The State Of Michigan Flint, MI | $802,734,792 | $36,611,617 |
Opportunity Finance Network Philadelphia, PA | $225,364,675 | $52,021,160 |
Anabaptist Financial Lewisburg, PA | $625,930,441 | $18,548,671 |
Sharefax Credit Union Inc Cincinnati, OH | $476,733,976 | $17,127,744 |
0053 Ih Credit Union Springfield, OH | $344,796,959 | $14,795,069 |
544 C E S Credit Union Inc Mount Vernon, OH | $208,699,156 | $7,355,905 |
Friends Fiduciary Corporation Philadelphia, PA | $693,443,242 | $5,444,683 |
1087 Millstream Area Credit Union Inc Findlay, OH | $59,199,918 | $3,448,457 |
Credit Unions Chartered In The State Of Michigan Grandville, MI | $56,189,015 | $3,931,995 |