Hebrew Free Loan Association Of District Of Columbia
- Assets
- $1.0m
- Revenue
- $299.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Bethesda, MD
- Founding
- 03/1956
- Data as of
- 12/2021
- EIN
- 53-0227814
Organization Overview
Hebrew Free Loan Association Of District Of Columbia is located in Bethesda, MD. The organization was established in 1956. 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 Of District Of Columbia employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hebrew Free Loan Association Of District Of Columbia 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 Of District Of Columbia generated $299.2k in total revenue. All expenses for the organization totaled $101.5k during the year ending 12/2021. While expenses have increased by 14.8% 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
THE HEBREW FREE LOAN ASSOCIATION OF GREATER WASHINGTON'S MISSION IS TO PROVIDE INTEREST-FREE LOANS TO MEMBERS OF THE COMMUNITY, TO HELP THEM MEET THEIR FINANCIAL NEEDS WITH DIGNITY. LOANS ARE AVAILABLE FOR A RANGE OF NEEDS, INCLUDING, BUT NOT LIMITED TO, MEDICAL BILLS, EMERGENCY BILLS, AND CREDIT CARD DEBTS. LOANS ARE ALSO AVAILABLE TO STUDENTS IN THEIR JUNIOR AND SENIOR YEARS OF COLLEGE AND GRADUATE STUDENTS. THE HEBREW FREE LOAN ASSOCIATION EXISTS TO ENABLE INDIVIDUALS TO MEET FINANCIAL CHALLENGES AND ADVANCE THEIR ABILITY TO SUPPORT THEMSELVES AND THEIR FAMILIES. IN 2020, HEBREW FREE LOAN ASSOCIATION OF GREATER WASHINGTON RECOGNIZED A NEED DURING THE PANDEMIC AND LAUNCHED AN EMERGENCY LOAN PROGRAM TO ASSIST THOSE WHO WERE STRUGGLING FINANCIALLY DUE TO COVID. DURING 2021, HFLAGW PROVIDED 62 INTEREST FREE LOANS IN THE AMOUNT OF $356,960. THIS INCLUDED 32 EMERGENCY LOANS FOR THOSE WHO WERE FINANCIALLY IMPACTED BY THE COVID-19 PANDEMIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021 THE HEBREW FREE LOAN ASSOCIATION OF GREATER WASHINGTON HFLAGW PROVIDED 62 INTEREST FREE LOANS IN THE AMOUNT OF $356,960 TO MEMBERS OF THE DC METRO AREA JEWISH COMMUNITY IN NEED OF FINANCIAL ASSISTANCE. INCLUDED IN THIS NUMBER ARE 32 EMERGENCY LOANS FOR THOSE WHO WERE FINANCIALLY IMPACTED BY THE COVID-19 PANDEMIC.
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 |
|---|---|---|---|
Shuli Tropp Executive Director | 15 | $47,000 | |
Naomi Malka Vice President | OfficerTrustee | 1 | $0 |
David Farber President | OfficerTrustee | 2 | $0 |
Robert Rubin Treasurer | OfficerTrustee | 1 | $0 |
Suzanne Wachsstock Trustee | Trustee | 1 | $0 |
Linda Lourie Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,649 |
| All other contributions, gifts, grants, and similar amounts not included above | $287,807 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $298,456 |
| Total Program Service Revenue | $0 |
| Investment income | $699 |
| 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 | $299,155 |
| 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. | $47,000 |
| Compensation of current officers, directors, key employees. | $7,050 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,231 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,002 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,572 |
| 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 | $2,782 |
| Information technology | $980 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,566 |
| All other expenses | $436 |
| Total functional expenses | $101,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $336,645 |
| Savings and temporary cash investments | $87,683 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $596,652 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $1,020,980 |
| 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 | $0 |
| Other liabilities | $94,955 |
| Total liabilities | $94,955 |
| Net assets without donor restrictions | $926,025 |
| Net assets with donor restrictions | $0 |
| 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 | $1,020,980 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hebrew Free Loan Association Of District Of Columbia has recieved totaling $35,360.
| Awarding Organization | Amount |
|---|---|
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $15,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $10,360 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,000 |
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 |
Capital Impact Partners Arlington, VA | $600,473,548 | $55,782,044 |
Opportunity Finance Network Philadelphia, PA | $225,364,675 | $52,021,160 |
Anabaptist Financial Lewisburg, PA | $625,930,441 | $18,548,671 |
Educap Inc Sterling, VA | $80,424,876 | $4,047,763 |
Friends Fiduciary Corporation Philadelphia, PA | $693,443,242 | $5,444,683 |
True Access Capital Corporation Wilmington, DE | $20,176,608 | $8,295,807 |
C S B S Education Foundation Washington, DC | $4,204,118 | $2,363,709 |
West Liberty University Foundation Inc West Liberty, WV | $23,210,678 | $4,184,811 |
Credit Research Foundation Inc Westminster, MD | $1,367,248 | $1,087,744 |
The Landmarks Financial Corporation Pittsburgh, PA | $163,255,408 | $14,945,748 |