Community Lending Partners of New Jersey Inc
Nonprofit profile at a glance
- EIN
- 030472940
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- New Brunswick, NJ, USA
- Phone
- 7326402061
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $1,423,205
- Expenses
- $842,225
- Assets
- $23,060,224
- Liabilities
- $19,195,802
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- BERNEL HALL (PRESIDENT AND CEO)
Highest reported compensation
- BERNEL HALL (PRESIDENT AND CEO): $750,909 total reported compensation
- MELINDA COLON-COX (GEN COUNSEL & CHIEF COMP O): $388,762 total reported compensation
- JOHN D ALLEN IV (CHIEF FINANCIAL OFFICER): $340,796 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To support the public purposes and activities of community loan fund of New Jersey ("clfnj"), inc. This includes, but is not limited to, providing financing to community development projects. For more information, see schedule o. To support the public purposes and activities of community loan fund of New Jersey ("clfnj"), inc. This includes, but is not limited to, providing financing to community development projects, including the development and preservation of affordable housing, and expanding the capital available for community and economic development initiatives throughout New Jersey.
What it reported doing in 2024
Community lending partners of New Jersey, inc. ("clpnj") transforms at-risk communities through strategic investments of capital and knowledge. Clpnj is affiliated with community loan fund of New Jersey and shares the same mission, board, and staff. Since its inception in2004, clpnj has closed 215 loans totaling over $102.5 million, which leveraged $201 million in public and private capital for housing, economic development and community facility projects that benefit low-income individuals and communities. These investments have created or preserved: 306 housing units, 278 jobs, 842 education seats, 0 childcare slots, and over 336,992 square feet of community and commercial facilities.
Operating model
- Revenue model
- Earned-program. 99% 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
SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 67
- Accountability: 91
- Sustainability: 74
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 57.9%; rating input score 58
- Program expense ratio: 98.9%; rating input score 99
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 40.8%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 27.38; rating input score 98; 98th percentile among comparable filings
- Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 16.6%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
- Asset growth: 5.2% per year; rating input score 100; 40th percentile among comparable filings
Details
- Where the money goes: 57.9% of revenue deployed · 98.9% of spending went to programs
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $833K in reported program spending
- Leadership: top reported pay $751K · 14 people listed · 0 of 6 pay-setting controls reported
- Consistency: 18 of 18 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Related organizations: 51 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.
- Review — Financial Efficiency: Mission deployment rate scored 58/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- High — Sustainability: Officer compensation ratio scored 20/100.