Business Finance Group Inc

Nonprofit profile at a glance

EIN
541193174
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Fairfax, VA, USA
Phone
7033520504
Rating confidence
Limited

Official website

Reported finances

Revenue
$4,855,899
Expenses
$4,707,207
Assets
$8,397,570
Liabilities
$3,380,956

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • RICHARD G FRANK (PRESIDENT/CEO)
  • ANGELA SMITH (SR. VICE PRESIDENT,SERVICE)
  • GERALD BAROUDI (SR. VICE PRESIDENT/LOAN OFFICER)

Highest reported compensation

  • RICHARD G FRANK (PRESIDENT/CEO): $438,338 total reported compensation
  • ANGELA SMITH (SR. VICE PRESIDENT,SERVICE): $228,108 total reported compensation
  • SHARON MASIN (DIRECTOR, FINANCE & ACCOUNTING): $195,955 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to help small businesses succeed by offering smart, flexible financing solutions. We're focused on strengthening communities and driving economic expansion through the growth of our business borrowers. We're committed to providing outstanding customer service to both our small businesses and lending partners, and we create a work environment that values and respects every team member.

What it reported doing in 2024

The company was certified by the small business administration to administer its 504 loan program. The program loans funds to qualified businesses to promote economic development and job creation and retention.in addition to its core sba 504 loan program, the company has been approved by the small business administration as a community advantage lender (ca). The company serviced ca program loans during the current fiscal year. In addition, the company provides fixed rate term loans to small businesses known as business finance group growth opportunity (bfg "go") loans. These loans were formerly made as sba intermediary lending pilot (ilp) loans but the company has now exited that program. These programs promote economic development.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.1%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 1.78; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 29.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $438K · 18 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 45/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.