Contractor Loan Fund Inc

Nonprofit profile at a glance

EIN
473818078
IRS 990 coverage
2015–2020
Forms available
Form 990 2020
Location
Saint Louis, MO, USA
Phone
3143422992
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Financial Institutions

Reported finances

Revenue
$5,146
Expenses
$74,599
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

33 people listed

People named in this filing

  • CHRISTOPHER K REICHERT (CHAIRMAN)
  • OTIS WILLIAMS (VICE CHAIRMAN)
  • DENNIS LOWER (SECRETARY)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A coalition of local governments, not-for-profit organizations, and small to large private sector businesses committed to build a more inclusive region. (see schedule o)clf partners have pooled their financial and technical business resources to make construction and expansion loans to minority and women owned businesses to facilitate their greater participation in construction projects throughout the region.

What it reported doing in 2020

Technical assistance program: clf coordinates technical assistance and applicant assessments for m/wbes. Technical assistance includes: * legal * accounting * surety and bonding * financial education * hr * training * advice from other professional resources in 2020, 4 assessments were completed. Assessments involve: * meeting with the potential borrower, * learning about their history and area of construction expertise, * reviewing basic financial statements with applicant, * evaluating areas of improvement (mentoring, bidding, insurance, financial reporting, etc.), and * answering questions and providing advice as needed.

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 95% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 10
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 13.5%; rating input score 14
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,349.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -5.5% per year; rating input score 0; 49th percentile among comparable filings
  • Revenue growth: 0.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: -25.1% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 13.5% of spending went to programs
  • Governance: 33 of 33 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $10K in reported program spending
  • Leadership: top reported pay $0 · 33 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2015 to 2020
  • 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 — Financial Efficiency: Program expense ratio scored 14/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.