Overview
What is Community First Fund?
Community First Fund is a nonprofit organization based in Lancaster, Pennsylvania. Their primary focus is on community and economic development by providing affordable loans to various entities throughout Central and Eastern Pennsylvania. These entities include small businesses, developers of affordable housing, community-based organizations, women, and people of color. In July 2020, they merged with Finanta, a Philadelphia-based nonprofit CDFI loan fund, and became its sole member. During the fiscal year ending June 30, 2022, they closed 46 new loans, financed 180 housing units for low and moderate-income individuals, and created or retained 357 jobs while developing or rehabbing 198,018 square feet of business real estate. In response to the COVID-19 pandemic, they shifted their focus to emergency financial relief and helped 24 businesses with low-interest loans and managed the program to fund 461 SBA Paycheck Protection Program loans totaling $15,784,735. Their mission is to provide loans and technical assistance to housing and economic development projects that benefit low-income persons and contribute to social progress and economic development in the South Central Pennsylvania region.
Official website here: www.communityfirstfund.org
Is Community First Fund legitimate?
Community First Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community First Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,130,905
For more financial information, click here
Official website here: www.communityfirstfund.org
What is the mission statement of Community First Fund?
The Community First Fund is a nonprofit organization dedicated to fostering community and work-based economic development. It provides loans and technical assistance to housing and economic development projects that bring tangible benefits to low-income individuals and contribute to social progress and economic development. By merging with Finanta in July 2020, the organization significantly expanded its resources, enabling it to support a wider range of projects and amplify its impact. Together, the consolidated entities continue their mission to promote sustainable economic growth and improve the lives of disadvantaged communities.
Official website here: www.communityfirstfund.org
Who is the CEO of Community First Fund?
Daniel Betancourt is the President & of Community First Fund.
Official website here: www.communityfirstfund.org
What is the revenue of Community First Fund?
Community First Fund's revenue in 2022 was $17,453,841.
Official website here: www.communityfirstfund.org
Who are the executives of Community First Fund and what are their salaries?
The average compensation at Community First Fund during 2022 was $70,286. There are 73 employees at Community First Fund.
Here are 21 key members and their salaries:
- Daniel Betancourt (President &)
- Anthony Pappion (Cfo)
- Joan Brodhead (Chief Strat.)
- James Buerger (Chief Lendin)
- Daniel Beck (Vp Sr Lender)
- Timothy Roseboro (Vice Preside)
- Christe Casciano (Svp Loan Adm)
- Nathan Mccann (Vp Comm Lend)
- John Scott (Bi Manager)
- Lenin Agudo (Board Member) [Trustee/Director]
- Natalia Dominguez Buckley (Board Member) [Trustee/Director]
- Jonathan Encarnacion (Board Member) [Trustee/Director]
- Dr Gregory Edwards (Board Member) [Trustee/Director]
- Dana Hanchin (Board Member) [Trustee/Director]
- Samuel T Cooper Iii (Board Member) [Trustee/Director]
- Carlos Lopez (Board Member) [Trustee/Director]
- R Eric Menzer (Board Member) [Trustee/Director]
- Lawrence Mccomie (Board Member) [Trustee/Director]
- Antonio Pelosi (Vice Chair) [Trustee/Director]
- Vince Tseng (Board Member) [Trustee/Director]
- Larry Wagner (Director Of)
Official website here: www.communityfirstfund.org
Where can I find the form 990 for Community First Fund?
The Community First Fund’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.communityfirstfund.org
Learn more at the official website: www.communityfirstfund.org
Mission Statement of Community First Fund
Community First Fund, a mission-driven organization, focuses on providing loans and technical assistance to housing and economic development projects that benefit low-income individuals and contribute to social progress and economic development. By doing so, the organization promotes community and work-based economic development in the South Central Pennsylvania region. With a direct and measurable impact on the lives of low-income individuals, Community First Fund supports projects essential for improving their living conditions and economic prospects.
In essence, Community First Fund serves as a catalyst for positive change in the community. It provides financial resources and expert guidance to projects that align with its mission, ensuring that they deliver meaningful results for those in need. By investing in these projects, the organization fosters sustainable growth and empowers low-income individuals to overcome economic challenges and build better lives for themselves and their families.
Community First Fund's commitment to economic development extends beyond just loans. The organization offers technical assistance to projects, providing valuable guidance and expertise to help them succeed. By collaborating with project developers and stakeholders, Community First Fund ensures that projects are well-designed, well-executed, and have a lasting impact on the community. In this way, the organization not only addresses immediate needs but also lays the groundwork for long-term progress and sustainable growth.
Following its successful merger with Finanta, a Philadelphia-based CDFI loan fund, on July 1, 2020, Community First Fund's impact grew significantly. The consolidation of the two organizations added 19,959,381 to the organization's resources, enabling it to support even more housing and economic development projects in the South Central Pennsylvania region. With its expanded resources and expertise, Community First Fund remains steadfast in its mission to promote community and work-based economic development and improve the lives of low-income individuals.
Impact
This information is meant to be a general summary of Community First Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Community First Fund's impact can be seen in the tangible outcomes it achieves through its activities. In the year ending June 30, 2022, the organization closed 46 new loans, financing 180 housing units for low and moderate-income individuals. This initiative led to the creation or retention of 357 jobs and the development or rehabilitation of 198,018 square feet of business real estate.
During the COVID-19 pandemic, Community First Fund shifted its focus to support businesses in low-income communities owned by people of color. By June 30, 2020, the organization had directly provided emergency financial relief in the form of low-interest loans to 24 businesses and managed the funding of 461 SBA Paycheck Protection Program loans totaling $15,784,735 through its subsidiary, Community First Capital Corp.
These efforts effectively contribute to social progress and economic development by promoting community and work-based economic development and providing affordable loans to entities in Central and Eastern Pennsylvania.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$4,306,205
OTHER
Revenue
$952,985
NEW MARKET TAX CREDIT
Revenue
$475,685
LOAN AND SERVICE FEES
Revenue
$409,040
Organization Details
Founding Year
1992
Phone
(717) 393-2351
Principal Officer
Daniel Betancourt
Main Address
PO BOX 524, LANCASTER, PA, 176080524
Website
www.communityfirstfund.org
NTEE Category
Code: L80Z - Housing
If you are a representative of Community First Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.