Community First Lending

Nonprofit profile at a glance

EIN
454715883
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Richmond, CA, USA
Phone
5104129290
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$78,693
Expenses
$177,912
Assets
$2,588,924
Liabilities
$1,532,638

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Leslie Stewart (President)
  • Fred Lambright (Vice President)

People named in this filing

  • Annie King- Meredith (Member)
  • Leslie Stewart (President)
  • Fred Lambright (Vice President)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The Corporation is organized exclusively to benefit and support Community Housing Development Corporation of North Richmond ("CHDC"), in carrying out its purposes, in accordance with the provisions of IRS 509(a)(3) by securing capital from federal, state and local governments and from private sources to assist in providing financing for low and moderate income housing and establishing a revolving loan fund which will provide loans to low and moderate income households for the purpose of assisting in the purchase of affordable housing and/or communities, in furtherance of one of CHDC's charitable purposes.

What it reported doing in 2024

The general purpose of this Corporation is to have and exercise all rights and powers conferred on nonprofit corporations under the laws of California, provided that this corporation shall not, except to an insubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the primary purpose of this Corporation.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.1%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -126.1%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 14.55; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -30.9% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -11.2% per year; rating input score 0; 30th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $157K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.