Liftfund Inc

Organization Overview

Liftfund Inc is located in San Antonio, TX. The organization was established in 1994. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Liftfund Inc employed 145 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liftfund Inc 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, Liftfund Inc generated $59.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $53.5m during the year ending 12/2021. While expenses have increased by 19.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

LIFTFUND PROIVDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING THE YEAR ENDED DECEMBER 31, 2021, LIFTFUND WORKED WITH SEVERAL CITIES, COUNTIES AND MUNICIPALITIES TO HELP DISTRIBUTE FEDERAL CARES ACT GRANTS AS A SUBRECIPIENT TO SMALL BUSINESSES THROUGHOUT THE YEAR IN RESPONSE TO THE COVID-19 PANDEMIC. LIFTFUND AWARDED 2,156 GRANTS TO VARIOUS SMALL BUSINESSES THROUGHOUT THE COMMUNITIES WE SERVE AMOUNTING TO OVER $32 MILLION IN BUSINESS SUPPORT FUNDING.


LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. 1,634 NEW LOANS WERE CLOSED IN THE FISCAL YEAR ENDED 12/31/2021; 1,108 OF WHICH WERE PPP LOANS. WITH MORE THAN $43 MILLION IN LOANS OUTSTANDING AS OF DECEMBER 31, 2021, LIFTFUND IS REGARDED AS ONE OF THE LARGEST AND BEST PERFORMINGMICROFINANCE INSTITUTIONS IN THE UNITED STATES. WITH ITS MICROLOAN MANAGEMENT SERVICES, LIFTFUND HELPS OTHER MICRO LENDERS ACROSS THE UNITED STATES ACHIEVE ECONOMICS OF SCALE AND EXPAND THE REACH OF THEIR PROGRAMS. THROUGH ITS LOANS AND SERVICES, LIFTFUND HAS HELPED CREATE OR RETAIN THOUSANDS OF JOBS IN LOW TO MODERATE INCOME AREAS, CONTRIBUTING TO THE ECONOMIC REVITALIZATION OF UNDERSERVED COMMUNITIES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Starkweather Law Office
Loan Closing
$182,000
Saurabh Bansal
Consulting
$136,000
Lendio Inc
Loan Processing
$648,168
Integrality Llc
Application Process
$106,614
Prudent Lenders Llc
Portfolio Servicing
$147,342
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $41,183,249
All other contributions, gifts, grants, and similar amounts not included above$8,299,901
Noncash contributions included in lines 1a–1f $2,018,708
Total Revenue from Contributions, Gifts, Grants & Similar$49,483,150
Total Program Service Revenue$9,462,902
Investment income $5,905
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $93,632
Net Gain/Loss on Asset Sales $8,316
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $59,155,631

Grants Recieved

Over the last fiscal year, we have identified 25 grants that Liftfund Inc has recieved totaling $1,973,481.

Awarding OrganizationAmount
Greater Houston Community Foundation

Houston, TX

PURPOSE: PUBLIC BENEFIT

$500,000
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$454,297
Opportunity Finance Network

Philadelphia, PA

PURPOSE: OFNS SMALL BUSINESS GRANT PROGRAM FUNDED BY GOOGLE.ORG

$250,000
Hearst Foundation Inc

New York, NY

PURPOSE: OPERATING SUPPORT

$150,000
Sue Hostetler & Beau Wrigley Family Foundation Inc

Chicago, IL

PURPOSE: SUPPORT WOMEN'S DREAM MAKERS FUND

$100,000
Allies For Community Business Inc

Chicago, IL

PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS

$80,000
View Grant Recipient Profile

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