Form 990 for tax year 2024

Filed by HARTFORD COMMUNITY LOAN FUND INC.

Totals

Total revenue: $1,862,097
Total expenses: $1,768,590
Contributions and grants received: $618,757
Grants paid: $0
Program service revenue: $994,724
Investment income: $290,780
Other revenue: -$42,164
Total assets, end of year: $24,714,062
Total liabilities, end of year: $14,515,211
Net assets or fund balances, end of year: $10,198,851
Program services expenses (Part IX): $1,315,790
Management and general expenses: $452,800
Fundraising expenses: $0
Program service expenses (Part III): $1,315,790

Program services were 74.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$388,358
1f · All other contributions, gifts and grants

$230,399
2a · Program service revenue: INTEREST INCOME

total $894,436 · related or exempt $894,436
2b · Program service revenue: LOAN PORTFOLIO FEE INC

total $100,288 · related or exempt $100,288
3 · Investment income

total $290,780 · excluded $290,780
6a · Gross rents

real property $73,600
6b · Less rental expenses

real property $117,826
6c · Rental income or loss

real property -$44,226
6d · Net rental income or loss

total -$44,226 · unrelated business -$44,226
11a · Other revenue: OTHER INCOME

total $2,062 · related or exempt $2,062
11e · Other revenue, total

$2,062

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $169,416 · program services $118,591 · management and general $50,825
7 · Other salaries and wages

total $799,174 · program services $588,943 · management and general $210,231
8 · Pension plan contributions

total $23,907 · program services $17,496 · management and general $6,411
9 · Other employee benefits

total $79,191 · program services $58,239 · management and general $20,952
10 · Payroll taxes

total $74,863 · program services $54,787 · management and general $20,076
11b · Fees: legal

total $1,250 · program services $1,250
11c · Fees: accounting

total $24,204 · management and general $24,204
11g · Fees: other

total $76,576 · program services $76,576
12 · Advertising and promotion

total $15,047 · program services $11,011 · management and general $4,036
13 · Office expenses

total $51,772 · program services $38,326 · management and general $13,446
16 · Occupancy

total $49,613 · program services $41,957 · management and general $7,656
19 · Conferences, conventions and meetings

total $6,485 · program services $4,746 · management and general $1,739
20 · Interest

total $280,038 · program services $206,184 · management and general $73,854
22 · Depreciation, depletion and amortization

total $36,971 · program services $29,367 · management and general $7,604
23 · Insurance

total $43,348 · program services $32,711 · management and general $10,637
24a · Other expenses: PROVISION FOR CREDIT LO

total $32,071 · program services $32,071 · management and general $0
24b · Other expenses: MISCELLANEOUS EXPENSES

total $2,771 · program services $2,149 · management and general $622
24c · Other expenses: LOAN SERVICING EXPENSES

total $1,893 · program services $1,386 · management and general $507

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $827,929 · end of year $247,143
2 · Savings and temporary cash investments

beginning of year $10,728,828 · end of year $8,886,607
4 · Accounts receivable

beginning of year $63,162 · end of year $71,098
7 · Other notes and loans receivable

beginning of year $12,978,703 · end of year $13,976,637
9 · Prepaid expenses and deferred charges

beginning of year $56,675 · end of year $66,857
10a · Land, buildings and equipment: cost or other basis

$1,977,901
10b · Land, buildings and equipment: accumulated depreciation

$512,181
10c · Land, buildings and equipment, net

beginning of year $1,503,350 · end of year $1,465,720
17 · Accounts payable and accrued expenses

beginning of year $62,411 · end of year $74,105
19 · Deferred revenue

beginning of year $1,692,399 · end of year $1,629,041
21 · Escrow or custodial account liability

beginning of year $278,744 · end of year $117,334
23 · Secured mortgages and notes payable

beginning of year $427,212 · end of year $410,490
24 · Unsecured notes and loans payable

beginning of year $13,592,537 · end of year $12,284,241
27 · Net assets without donor restrictions

beginning of year $9,939,080 · end of year $10,198,851
28 · Net assets with donor restrictions

beginning of year $166,264 · end of year $0

Mission and programs · 2024

Mission

TO PROVIDE AND PROMOTE JUST AND AFFORDABLE FINANCIAL SERVICES THAT BENEFIT LOW-WEALTH RESIDENTS OF THE COMMUNITIES SERVED BY HCLF.

LENDING - HARTFORD COMMUNITY LOAN FUND (HCLF) PROVIDES ACQUISITION AND REHAB FINANCING TO FACILITATE THE RENOVATION OF BLIGHTED AND UNDERUTILIZED RESIDENTIAL AND MIXED USE PROPERTIES THROUGHOUT CONNECTICUT. THROUGH THIS PROGRAM, HCLF SEEKS TO BOTH REDUCE BLIGHT AND INCREASE THE STOCK OF AFFORDABLE HOUSING AVAILABLE FOR LOW INCOME RESIDENTS IN THE COMMUNITIES SERVED BY HCLF. HCLF-FINANCED PROJECTS ALSO CREATE AND RETAIN JOBS IN THE COMMUNITY.HCLF CONTINUES TO SERVICE LOANS ORIGINATED UNDER A COMMERCIAL LOAN PROGRAM WHICH WAS DISCONTINUED PRIOR TO FISCAL YEAR ENDING JUNE 30, 2015.

Expenses $1,099,472 · Revenue $996,786
COMMUNITY ADVOCACY - HARTFORD COMMUNITY LOAN FUND ENGAGED IN SPECIFIC POLICY INITIATIVES RELATED TO THE ORGANIZATION'S MISSION. HCLF MANAGED A COLLABORATIVE REAL ESTATE DEVELOPMENT INITIATIVE WITH A GOAL TO BRING A FULL SERVICE SUPERMARKET TO THE CITY OF HARTFORD.

Expenses $216,318

As filed on the 2024 return.

Listed in Part VII

Anna EmanuelANNA EMANUEL

PRESIDENT

Total calculated

$0

Hours/week

1
Thomas WoodTHOMAS WOOD

TREASURER

Total calculated

$0

Hours/week

1
Emily HultquistEMILY HULTQUIST

SECRETARY

Total calculated

$0

Hours/week

1
Steven VaughanSTEVEN VAUGHAN

DIRECTOR

Total calculated

$0

Hours/week

1
Lyle FultonLYLE FULTON

DIRECTOR

Total calculated

$0

Hours/week

1
Robert DellatorreROBERT DELLATORRE

DIRECTOR

Total calculated

$0

Hours/week

1
Geoff PersonGEOFF PERSON

DIRECTOR

Total calculated

$0

Hours/week

1
Logan SingermanLOGAN SINGERMAN

DIRECTOR

Total calculated

$0

Hours/week

1
Aaron GillAARON GILL

DIRECTOR

Total calculated

$0

Hours/week

1
Ricardo VidalRICARDO VIDAL

DIRECTOR

Total calculated

$0

Hours/week

1
Catherine T MacKinnonCATHERINE T MACKINNON

DIRECTOR

Total calculated

$0

Hours/week

1
Michael B HaynesMICHAEL B HAYNES

CEO EFFECTIVE 7.8.24

Total calculated

$83,430

From this org

$74,456

From related orgs

$0

Other

$8,974

Hours/week

40
Rex FowlerREX FOWLER

FORMER CEO THRU 7.7.24

Total calculated

$123,409

From this org

$111,662

From related orgs

$0

Other

$11,747

Hours/week

40

Schedule J breakdown matched by us

Base

$111,662

Bonus

$0

Other

$0

Deferred

$2,773

Nontaxable benefits

$8,974

Filer's total

$123,409

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART II: THE FORMER EXECUTIVE DIRECTOR CONTINUES TO BE EMPLOYED PART-TIME BY THE ORGANIZATION IN A NON-MANAGERIAL ROLE CONSULTING ON SPECIAL PROJECTS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

COMMUNITY REAL ESTATE HOLDINGS

TO HOLD REAL ESTATE · CT · income $2,000 · assets $13,849

Directly controlled by HARTFORD COMMUNITY LOAN FUND INC
207-215 GARDEN STREET LLC

COMMERCIAL RENTAL · CT · income $73,600 · assets $1,199,097

Directly controlled by HARTFORD COMMUNITY LOAN FUND INC
BURTON CREEK PARTNERS LLC

REAL ESTATE DEVELOPMENT CONSULTING · CT · income $5,510 · assets $101,156

Directly controlled by HARTFORD COMMUNITY LOAN FUND INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 1 May 2026
IRS schema version: 2024v5.5
Source object: 202621259349302217

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