The Greater New Haven Community Loan Fund Inc

Nonprofit profile at a glance

EIN
222889913
IRS 990 coverage
2010–2014
Forms available
Form 990 2014
Location
New Haven, CT, USA
Phone
2037898690
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$3,549,805
Expenses
$3,161,417
Assets
$11,840,500
Liabilities
$8,916,757

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • C MICHAEL TUCKER (PRESIDENT)
  • ANNA BLANDING (VICE PRESIDENT)
  • CARLA WEIL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CARLA WEIL (EXECUTIVE DIRECTOR): $103,148 total reported compensation
  • ANNETTE RUBELMANN (FINANCE DIRECTOR): $88,177 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The greater new haven community loan fund, inc. Mission is to create and sustain vibrant neighborhoods. Through its lending and investment, the fund is the flexible source of alternative financing for affordable housing and community development in the greater new haven area.

What it reported doing in 2014

Commercial lending - flexible financing to create affordable housing and sustain nonprofit organizations from a loan pool made up of grant funds and investments from institutions and individuals wishing to make socially responsible investments. Administration of housing related programs funded by a variety of government and philanthropic sources including home repair and home purchase programs for low/moderate income populations, programs for housing veterans and progams providing subisidy and access to real estate for affordable housing developers.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.9%; rating input score 78
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: $27.25 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 92.6%; rating input score 93; 25th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th 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: 10.9%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 3.75; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 6.1%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 86.4% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 6.9% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 77.9% of revenue deployed · 87.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $103K · 12 people listed
  • Highest-paid contractors: 1 contractor listed · $198K reported
  • Consistency: 32 of 34 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 12 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.

  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.