Jewish Free Loan Association
- Assets
- $25.7m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Los Angeles, CA
- Founding
- 10/1996
- Data as of
- 08/2023
- EIN
- 95-1691014
Organization Overview
Jewish Free Loan Association is located in Los Angeles, CA. The organization was established in 1996. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 08/2023, Jewish Free Loan Association employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jewish 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 08/2023, Jewish Free Loan Association generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $2.2m during the year ending 08/2023. While expenses have increased by 2.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OFFER INTEREST-FREE LOANS TO INDIVIDUALS AND FAMILIES WHO MAY NOT QUALIFY FOR NORMAL LENDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
JFLA GRANTED 943 LOANS DURING THE FISCAL YEAR (9/1/22 THROUGH 8/31/23) FOR EDUCATION, EMERGENCY NEEDS, SMALL BUSINESSES, AND JEWISH CONTINUITY. AT AUGUST 31, 2023, JFLA HAD OVER 2,944 LOANS OUTSTANDING IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Levin President | OfficerTrustee | 3 | $0 |
Tom Walsmith 1st Vice President | OfficerTrustee | 1 | $0 |
David Horvitz 2nd Vice President | OfficerTrustee | 1 | $0 |
Linda Feinholz Secretary | OfficerTrustee | 1 | $0 |
Joel Glucoft Treasurer | OfficerTrustee | 1 | $0 |
Aron Abecassis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $160,944 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,834,036 |
| Noncash contributions included in lines 1a–1f | $22,596 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,014,980 |
| Total Program Service Revenue | $0 |
| Investment income | $314,690 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$761 |
| Net Income from Fundraising Events | -$24,720 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,304,189 |
| 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. | $456,387 |
| Compensation of current officers, directors, key employees. | $124,497 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $593,159 |
| Pension plan accruals and contributions | $106,904 |
| Other employee benefits | $24,664 |
| Payroll taxes | $73,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,725 |
| Fees for services: Accounting | $34,833 |
| Fees for services: Lobbying | $12,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $299,350 |
| Advertising and promotion | $312,946 |
| Office expenses | $21,462 |
| Information technology | $12,639 |
| Royalties | $0 |
| Occupancy | $43,977 |
| Travel | $3,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,679 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,406 |
| Insurance | $21,196 |
| All other expenses | $7,621 |
| Total functional expenses | $2,163,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,943 |
| Savings and temporary cash investments | $613,414 |
| Pledges and grants receivable | $1,009,150 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,996,334 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,467 |
| Net Land, buildings, and equipment | $93,983 |
| Investments—publicly traded securities | $6,661,619 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,667,910 |
| Accounts payable and accrued expenses | $243,295 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $71,640 |
| 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 | $767,315 |
| Total liabilities | $1,082,250 |
| Net assets without donor restrictions | $3,538,173 |
| Net assets with donor restrictions | $21,047,487 |
| 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 | $25,667,910 |