New Hampshire Community Loan Fund Inc

Nonprofit profile at a glance

EIN
222524015
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Concord, NH, USA
Phone
6032246669
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$75,052,598
Expenses
$57,935,743
Assets
$237,353,910
Liabilities
$163,574,882

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

Leadership & pay

25 people listed

Executive titles in this filing

  • STEVE SALTZMAN (PRESIDENT & CEO)

Highest reported compensation

  • STEVE SALTZMAN (PRESIDENT & CEO): $293,217 total reported compensation
  • BONNIE SCADOVA (CHIEF FINANCIAL OFFICER): $236,477 total reported compensation
  • SARAH MARCHANT (COO & VP OF ROC-NH): $227,098 total reported compensation

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

Overview

Mission

Our mission is to provide people and communities, in New Hampshire and beyond, with the financial, human, and civic resources they need to be economically secure. We do this by providing loans, capital and technical assistance to borrowers across three broad sectors: affordable housing, business finance, and community services; complementing and extending the reach of conventional lenders and public institutions; and bringing people and institutions together to solve problems.established in 1983, the community loan fund was one of the first community development financial institutions in the nation and is recognized as a national leader for its innovation, social impact, financial strength and performance. The community loan fund was the 2009 recipient of the next award for opportunity finance, the highest honor in our field.

What it reported doing in 2024

1. Since 1984, our community services financing has supported essential services, including center- and home-based early childhood education, by helping nonprofit organizations buy, renovate, or build facilities. The community loan fund has made 143 community services loans totaling over $38.3 million. In fy2025, the community loan fund made 7 community services loans for $1,491,000.2. Since 2023, usda is partnering with the community loan fund to make available $186,705,000 in grants through two nation-wide programs: the local meat capacity grant program and the meat and poultry processing expansion program. The programs aim to promote fairer, more competitive and more resilient meat and poultry supply chains. The community loan fund will help usda administer the pass-through grants over six years (2024-2029). These regranting activities are managed under the community loan fund's sustainable food systems program (sfsp). In fy2025, the community loan fund disbursed $41,706,985 in pass through grants.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 87
  • Accountability: 96
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.5%; rating input score 76
  • Program expense ratio: 97.3%; rating input score 97
  • Fundraising efficiency: $121.47 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 49th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 44th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.8%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 4.1; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 16.6% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 75.5% of revenue deployed · 97.3% of spending went to programs
  • Governance: 15 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $56.4M in reported program spending
  • Leadership: top reported pay $293K · 25 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $566K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 98 filed money-flow records
  • Related organizations: 91 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.