Overview
What is Rising Tide Community Loan Fund?
Rising Tide Community Loan Fund is a nonprofit organization based in Bethlehem, Pennsylvania. Its primary mission is to provide loans to small or start-up businesses that may not meet traditional banking standards, aiming to revitalize economically deprived neighborhoods. The organization has donor/investors who lend funds at no or below-market interest for program lending. Since its inception, Rising Tide has made 19 loans to 17 different businesses, with a focus on supporting woman-owned, minority-owned, and low-income businesses. In 2021-2022 alone, it disbursed almost $800,000, contributing to a total disbursement of over $10 million by the organization. The disbursed funds have supported various ventures, including trucking companies, home improvement businesses, breweries, and a childcare center, among others. With a workforce of 4 individuals, Rising Tide continues to work towards revitalizing communities by financially backing underrepresented businesses.
Official website here: www.caclv.org
Is Rising Tide Community Loan Fund legitimate?
Rising Tide Community Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rising Tide Community Loan 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: $198,386
For more financial information, click here
Official website here: www.caclv.org
What is the mission statement of Rising Tide Community Loan Fund?
The Rising Tide Community Loan Fund's mission is centered around providing financial assistance to small or startup business ventures that may not meet standard banking criteria. This initiative aims to revitalize economically depressed communities. The organization does this by offering loans at no or below-market interest rates, thereby improving the social welfare of blighted neighborhoods within the community. With donor/investor funds, the organization has made loans to various businesses, with a focus on supporting female, minority, low-income, and business owners located in low-income census tracts. In 2021-2022 alone, the fund disbursed nearly $800,000 to businesses in various sectors, such as trucking, home improvement, retail, and food services. Overall, the Rising Tide Community Loan Fund has disbursed over $10 million in loans since its inception, supporting local businesses and contributing to the economic growth of its targeted communities.
Official website here: www.caclv.org
Who is the CEO of Rising Tide Community Loan Fund?
Dawn Godshall is the President of Rising Tide Community Loan Fund.
Official website here: www.caclv.org
What is the revenue of Rising Tide Community Loan Fund?
Rising Tide Community Loan Fund's revenue in 2022 was $8,811,127.
Official website here: www.caclv.org
Who are the executives of Rising Tide Community Loan Fund and what are their salaries?
The average compensation at Rising Tide Community Loan Fund during 2022 was $49,596. There are 4 employees and 13 volunteers at Rising Tide Community Loan Fund.
Here are 16 key members and their salaries:
- Dawn Godshall (Executive Director)
- Chris Hudock (Associate Executive Dir Of Business Devlopment) [Trustee/Director]
- Otis Mcneil (President) [Trustee/Director]
- Sally Handlon (Vice-President) [Trustee/Director]
- Chris Jones (Secretary) [Trustee/Director]
- Kim Edwards (Treasurer) [Trustee/Director]
- Pat Corpora (Board Member) [Trustee/Director]
- David Hammer (Board Member) [Trustee/Director]
- Karina Kane (Board Member) [Trustee/Director]
- Colleen Krcelich (Board Member) [Trustee/Director]
- Natasha Ljuljic (Board Member) [Trustee/Director]
- Elizabeth Ortiz (Board Member) [Trustee/Director]
- Lauren Tarola (Board Member) [Trustee/Director]
- Marek Tomanek (Board Member) [Trustee/Director]
- Todd Watkins (Board Member) [Trustee/Director]
- Russell Fletcher Jr (Board Member) [Trustee/Director]
Official website here: www.caclv.org
Where can I find the form 990 for Rising Tide Community Loan Fund?
The Rising Tide Community Loan Fund’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.caclv.org
Learn more at the official website: www.caclv.org
Mission Statement of Rising Tide Community Loan Fund
Rising Tide Community Loan Fund is an organization that prioritizes providing loans to small or startup business ventures that may not meet the standards of traditional banks. This nonprofit aims to improve economically depressed communities by offering financial assistance to these ventures. By lending funds at no or below market interest rates, Rising Tide helps revitalize socially disadvantaged neighborhoods within the community.
Since its inception, Rising Tide has made a significant impact by offering loans to 17 different businesses. Among these, eight were woman-owned, eight were minority-owned, and twelve were owned by low-to-moderate income individuals or located in low-to-moderate income census tracts. In total, the organization has disbursed just under $800,000 in 2021-2022, bringing their total disbursements to over $10 million since their inception.
The loans provided by Rising Tide Community Loan Fund have benefited various types of businesses, including four trucking companies, two home improvement companies, two retail stores, two breweries, two auto repair shops, an outdoor adventure company, a bakery, a printing company, a pizza shop, and a childcare center. This diverse range of businesses demonstrates the organization's commitment to fostering economic growth in a broad spectrum of communities.
Impact
This information is meant to be a general summary of Rising Tide Community Loan Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Rising Tide Community Loan Fund's impact is significant in improving economically depressed communities by providing loans to small or start-up business ventures that may not qualify for traditional bank standards. With a focus on supporting businesses owned by women, minorities, and low-to-moderate-income individuals, Rising Tide has disbursed just under $800,000 in loans in 2021-2022 alone. This brings their total disbursement to over $10 million, benefiting a variety of businesses such as trucking companies, retail stores, breweries, and childcare centers. By investing in these businesses, Rising Tide is playing a crucial role in revitalizing and strengthening communities in Bethlehem, PA.
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.
PROGRAM LOAN INTEREST
Revenue
$161,775
PROGRAM FEES
Revenue
$16,662
Organization Details
Founding Year
2001
Phone
(610) 691-5620
Principal Officer
Dawn Godshall
Main Address
1337 EAST FIFTH STREET, BETHLEHEM, PA, 18015
Website
www.caclv.org
NTEE Category
Code: S31 - Community improvement
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