Finanta

Nonprofit profile at a glance

EIN
232857766
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
7173932351
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$842,643
Expenses
$315,458
Assets
$25,402,548
Liabilities
$10,528,283

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

Leadership & pay

21 people listed

Executive titles in this filing

  • DANIEL BETANCOURT (PRESIDENT &)

Highest reported compensation

  • DANIEL BETANCOURT (PRESIDENT &): $428,184 total reported compensation
  • JONATHAN ENCARNACION (SENIOR VP CH): $251,317 total reported compensation
  • JOAN BROADHEAD (CHIEF STRATE): $237,751 total reported compensation

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

Overview

Mission

A non-profit lending institution facilitating access to capital and consultation services to entrepreneurs, first-time homebuyers, and consumers in the Delaware valley region.

What it reported doing in 2024

Technical assistance and loan products for entrepreneurs, start-up and small businesses, first-time consumer and homebuyer borrowers, and local affordable real estate developers. Such products are supported with credit building and financial coaching, business training, and incubating space.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 66
  • Accountability: 95
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.9%; rating input score 20
  • Program expense ratio: 89.2%; rating input score 89
  • Fundraising efficiency: $1.58 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 62.6%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 80.53; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 79.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 19.9% of revenue deployed · 89.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $281K in reported program spending
  • Leadership: top reported pay $428K · 21 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 20/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.