Florida Community Loan Fund
- Assets
- $108.2m
- Revenue
- $7.7m
- Investments
- $523.5k
- Employees
- 19
- Location
- Orlando, FL
- Founding
- 09/1995
- Data as of
- 06/2021
- EIN
- 65-0545058
Organization Overview
Florida Community Loan Fund is located in Orlando, FL. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Florida Community Loan Fund employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Community Loan Fund 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 06/2021, Florida Community Loan Fund generated $7.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $4.9m during the year ending 06/2021. 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 LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT OR MISSION-FOCUSED FOR-PROFIT ORGANIZATIONS TO DEVELOP AFFORDABLE HOUSING, SUPPORTIVE HOUSING (WHICH INCLUDES SOCIAL SERVICES FOR RESIDENTS), COMMUNITY FACILITIES, AND ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE IMPACT TO LOW INCOME PERSONS THROUGHOUT THE STATE OF FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOANS AND TECHNICAL ASSISTANCE TO NONPROFIT OR MISSION-FOCUSED FOR-PROFIT ORGANIZATIONS TO DEVELOP AFFORDABLE HOUSING, SUPPORTIVE HOUSING (WHICH INCLUDES SOCIAL SERVICES FOR RESIDENTS), COMMUNITY FACILITIES, AND ECONOMIC DEVELOPMENT PROJECTS THAT HAVE A DIRECT AND MEASURABLE IMPACT TO LOW INCOME PERSONS THROUGHOUT THE STATE OF FLORIDA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ignacio Esteban Chief Executive Officer | Officer | 40 | $247,103 |
Nelson Black Chief Lending Officer | Officer | 40 | $224,497 |
Tammy Thomas Chief Financial Officer | Officer | 40 | $224,496 |
Joy Beaton Dir Of Gov't Relations | 40 | $164,109 | |
James Walker Comm Dev Loan Officer | 40 | $130,043 | |
Susan Holtrey Loan Portfolio Mgr | 40 | $127,059 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,103,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $508,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,612,250 |
| Total Program Service Revenue | $5,777,824 |
| Investment income | $219,149 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,869 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,672,092 |
| 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. | $765,398 |
| Compensation of current officers, directors, key employees. | $204,861 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,112,709 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $299,914 |
| Payroll taxes | $157,250 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,731 |
| Fees for services: Accounting | $92,083 |
| Fees for services: Lobbying | $31,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,729 |
| Fees for services: Other | $38,792 |
| Advertising and promotion | $23,129 |
| Office expenses | $56,908 |
| Information technology | $10,408 |
| Royalties | $0 |
| Occupancy | $259,513 |
| Travel | $3,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,074 |
| Interest | $1,363,968 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,789 |
| Insurance | $24,878 |
| All other expenses | $13,196 |
| Total functional expenses | $4,924,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597 |
| Savings and temporary cash investments | $23,078,285 |
| 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 | $77,587,154 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,127 |
| Net Land, buildings, and equipment | $172,201 |
| Investments—publicly traded securities | $5,768,871 |
| Investments—other securities | $523,455 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,048,037 |
| Total assets | $108,210,727 |
| Accounts payable and accrued expenses | $715,775 |
| Grants payable | $0 |
| Deferred revenue | $525,000 |
| 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 | $52,347,452 |
| Other liabilities | $11,750,000 |
| Total liabilities | $65,338,227 |
| Net assets without donor restrictions | $41,914,051 |
| Net assets with donor restrictions | $958,449 |
| 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 | $108,210,727 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Florida Community Loan Fund has recieved totaling $77,000.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $14,750 |
Comerica Charitable Foundation Detroit, MI PURPOSE: 2021 COMMUNITY DEVELOPMENT FINANCING AND COVID RELIEF-SUPPORT | $7,500 |
United Community Bank Foundation Inc Greenville, SC PURPOSE: THIS IS AN UNRESTRICTED DONATION. THE ORGANIZATION CAN USE THE FUNDS AS NEEDED IN FURTHERANCE OF ITS CHARITABLE PURPOSE. | $4,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Bay Park Conservancy Inc Sarasota, FL | $16,645,209 | $18,178,827 |
Florida Opportunity Fund Inc Orlando, FL | $119,810,322 | $8,334,220 |
Florida Community Loan Fund Orlando, FL | $108,210,727 | $7,672,092 |
Bac Funding Corporation Miami, FL | $17,927,247 | $4,831,785 |
Community And Economic Development Quincy, FL | $11,268,446 | $5,882,256 |
Broward County Community Development Corporation Inc Fort Lauderdale, FL | $8,205,586 | $4,659,433 |
Miami Beach Community Development Corporation Inc Miami Beach, FL | $28,003,490 | $2,129,125 |
Neighbors And Neighbors Association Inc Miami, FL | $2,936,211 | $3,300,045 |
Pasco Economic Development Council Inc Lutz, FL | $4,349,801 | $2,360,770 |
Sunshine State Economic Development Corp Clearwater, FL | $6,634,562 | $1,695,679 |
Small Business Assistance Corp Savannah, GA | $17,970,431 | $1,539,306 |
Endeavor Miami Inc Miami, FL | $2,466,456 | $1,752,588 |