Conservative Mennonite Financial

The information for Conservative Mennonite Financial is as of the organization's most recent filing in June '21. This organization is located in Lebanon, PA. It has been in existence for 7 years, following its founding in 2014.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Conservative Mennonite Financial is a public and societal benefit organization with an NTEE code of W99. This code indicates that the organization provides services relating to public affairs or societal benefit, but its major purpose is unclear enough that a more specific code cannot be accurately assigned. The organization falls under the C Section Code 3, which encompasses religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or prevention of cruelty to children or animals organizations. The mission of Conservative Mennonite Financial is to borrow funds from members of the Conservative Mennonite Church and re-lend them to young Mennonite individuals in the community at a low interest rate. This program aims to preserve and maintain the religious beliefs, cultural traditions, and lifestyle of the Conservative Mennonite Church while helping young Mennonite individuals establish themselves within the Conservative Mennonite community.

Program Areas

The program area description states that the organization has extended loans to young Mennonite individuals, enabling them to obtain homes, farms, and other business-related financing. These loans aim to help them become established within the conservative Mennonite Church community.

Board Governance

Conservative Mennonite Financial appears to be a well-governed non-profit organization based on the information provided. The organization has a total of 6 voting members, all of whom are independent, indicating a fair and unbiased decision-making process. The absence of potential conflicts of interest further strengthens the organization's governance structure, ensuring that decisions are made in the best interest of the organization and its beneficiaries. The fact that board meetings and committee meetings are documented demonstrates a commitment to transparency and accountability. This documentation allows for proper record-keeping and ensures that decisions and discussions can be reviewed and referenced in the future. Additionally, the presence of a conflict of interest policy and the requirement for disclosure of conflicts further reinforces the organization's commitment to ethical practices and avoiding any potential conflicts that may arise. However, there are some areas where Conservative Mennonite Financial could improve its governance practices. The organization does not have a written whistleblower policy, which could hinder the reporting of any potential misconduct or unethical behavior within the organization. Similarly, the absence of a document retention policy means that there may not be clear guidelines on how long certain records should be kept, which could lead to potential issues with compliance and accountability. Furthermore, the organization does not substantiate and review leadership salaries or officer's salaries. This lack of oversight could potentially lead to excessive compensation or misuse of funds. Additionally, the organization does not provide copies of the 990 to the board prior to filing, which could limit the board's ability to review and understand the organization's financial activities. In conclusion, while Conservative Mennonite Financial demonstrates several positive governance practices, there are areas where improvements could be made to further enhance transparency, accountability, and ethical practices within the organization.

Organization Growth

Conservative Mennonite Financial, a nonprofit organization, has experienced growth over the given time period. Program Service Revenue increased from $975.6K in 2014 to $1.2M in 2020, indicating an upward trend in the organization's ability to generate revenue from its programs. Investment Income also grew from $13.1K in 2014 to $60.0K in 2020, suggesting an improvement in the organization's investment strategies. Total Revenue saw an increase from $988.7K in 2014 to $1.3M in 2020, further demonstrating the overall growth of the organization. Employee Salaries also rose from $13.3K in 2016 to $17.0K in 2020, indicating an expansion in the organization's workforce. Total Expenses increased from $891.5K in 2014 to $1.2M in 2020, reflecting the organization's increased spending to support its operations and programs. However, the number of Total Volunteers remained the same at 5 in 2015, suggesting that the organization did not experience growth in terms of volunteer participation during this time period.