Hebrew Free Loan of New Jersey

Legal name: HEBREW FREE LOAN OF New Jersey INC

Nonprofit profile at a glance

EIN
521931966
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Whippany, NJ, USA
Phone
9739293094
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Judaism

Official website

Reported finances

Revenue
$176,915
Expenses
$96,864
Assets
$1,885,463
Liabilities
$350,000

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

Leadership & pay

20 people listed

Executive titles in this filing

  • LEO GORDON (PRESIDENT/TRUSTEE)
  • Robert J SINGER (Vice president/TRUSTEE)

People named in this filing

  • LEO GORDON (PRESIDENT/TRUSTEE)
  • Robert J SINGER (Vice president/TRUSTEE)
  • JO ANN BOYKO (TREASURER/TRUSTEE)

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

Helping Jews in need become self-sufficient by providing interest-free loans. The mission remains unchanged: helping Jews in need to become self-sufficient by providing interest-free loans. Today, Hebrew Free Loan of New Jersey serves Jews in Bergen, Essex, Morris, Monmouth, Middlesex, Passaic, Sussex, and Union counties. Since 2008, Hebrew Free Loan of New Jersey has given loans to hundreds of people in our community totaling more than $1.4 million. Hebrew Free Loan of NJ is a beneficiary of the Jewish Federation of Greater MetroWest NJ and a partner of the Jewish Federation in the Heart of New Jersey (serving Monmouth and Greater Middlesex Counties).

What it reported doing in 2024

Throughout its nonprofit lending activities, hebrew free loan of metrowest, inc. Supported the jewish community foundation of greater metrowest nj, inc.

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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 73%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 45.2%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 19.47; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 23.3% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 10.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 63.7% of revenue deployed · 73% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $71K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.