Totals
- Total revenue
- $7,309,869
- Total expenses
- $3,782,035
- Contributions and grants received
- $6,305,517
- Grants paid
- $0
- Program service revenue
- $346,995
- Investment income
- $657,357
- Other revenue
- $0
- Total assets, end of year
- $49,249,393
- Total liabilities, end of year
- $11,769,335
- Net assets or fund balances, end of year
- $37,480,058
- Program services expenses (Part IX)
- $2,866,366
- Management and general expenses
- $421,911
- Fundraising expenses
- $493,758
- Program service expenses (Part III)
- $2,866,366
Program services were 75.8% 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.
-
1a · Federated campaigns
$247,000
-
1f · All other contributions, gifts and grants
$6,058,517
-
2a · Program service revenue: OTHER ADMINISTRATIVE FEES
total $346,995 · related or exempt $346,995
-
3 · Investment income
total $68,775 · excluded $68,775
-
7a · Gross sales of assets other than inventory
securities $2,200,000
-
7b · Less cost or other basis and sales expenses
securities $1,611,418
-
7c · Gain or loss
securities $588,582
-
7d · Net gain or loss
total $588,582 · excluded $588,582
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $608,492 · program services $532,635 · management and general $53,901 · fundraising $21,956
-
7 · Other salaries and wages
total $1,277,632 · program services $823,297 · management and general $177,560 · fundraising $276,775
-
8 · Pension plan contributions
total $120,431 · program services $90,323 · management and general $12,043 · fundraising $18,065
-
9 · Other employee benefits
total $233,360 · program services $175,020 · management and general $23,866 · fundraising $34,474
-
10 · Payroll taxes
total $150,016 · program services $112,512 · management and general $15,002 · fundraising $22,502
-
11b · Fees: legal
total $250 · program services $195 · management and general $25 · fundraising $30
-
11c · Fees: accounting
total $35,240 · program services $27,487 · management and general $3,524 · fundraising $4,229
-
11f · Fees: investment management
total $9,988 · management and general $9,988
-
11g · Fees: other
total $221,249 · program services $124,298 · management and general $44,670 · fundraising $52,281
-
12 · Advertising and promotion
total $67,654 · program services $67,654
-
13 · Office expenses
total $41,969 · program services $29,557 · management and general $8,395 · fundraising $4,017
-
16 · Occupancy
total $193,107 · program services $169,935 · management and general $13,517 · fundraising $9,655
-
19 · Conferences, conventions and meetings
total $15,638 · program services $13,292 · management and general $1,877 · fundraising $469
-
22 · Depreciation, depletion and amortization
total $87,544 · program services $61,281 · management and general $17,509 · fundraising $8,754
-
23 · Insurance
total $35,067 · program services $29,806 · management and general $3,507 · fundraising $1,754
-
24a · Other expenses: PROVISION FOR UNCOLLECT
total $462,058 · program services $462,058
-
24b · Other expenses: PROGRAM EXPENSE
total $102,137 · program services $102,137
-
24c · Other expenses: OPERATIONAL MANAGEMENT
total $25,620 · program services $17,178 · management and general $5,918 · fundraising $2,524
-
24d · Other expenses: MISCELLANEOUS
total $23,163 · management and general $20,500 · fundraising $2,663
-
24e · All other expenses
total $71,420 · program services $27,701 · management and general $10,109 · fundraising $33,610
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,176,368 · end of year $1,125,712
-
2 · Savings and temporary cash investments
beginning of year $3,000,683 · end of year $2,501,417
-
3 · Pledges and grants receivable
beginning of year $78,882 · end of year $141,482
-
4 · Accounts receivable
beginning of year $108,305 · end of year $159,612
-
7 · Other notes and loans receivable
beginning of year $25,286,677 · end of year $34,147,795
-
9 · Prepaid expenses and deferred charges
beginning of year $26,418 · end of year $48,376
-
10a · Land, buildings and equipment: cost or other basis
$707,990
-
10b · Land, buildings and equipment: accumulated depreciation
$435,297
-
10c · Land, buildings and equipment, net
beginning of year $348,318 · end of year $272,693
-
11 · Investments: publicly traded securities
beginning of year $11,827,013 · end of year $10,487,626
-
15 · Other assets
beginning of year $0 · end of year $364,680
-
17 · Accounts payable and accrued expenses
beginning of year $1,233 · end of year $71,601
-
19 · Deferred revenue
beginning of year $68,384 · end of year $42,134
-
21 · Escrow or custodial account liability
beginning of year $140,474 · end of year $146,974
-
22 · Loans and payables to officers and key people
beginning of year $300,000 · end of year $300,000
-
25 · Other liabilities
beginning of year $9,624,349 · end of year $11,208,626
-
27 · Net assets without donor restrictions
beginning of year $21,723,374 · end of year $24,606,766
-
28 · Net assets with donor restrictions
beginning of year $11,994,850 · end of year $12,873,292
Mission and programs · 2022
Mission
THE HEBREW FREE LOAN SOCIETY (HFLS) ADVANCES ECONOMIC STABILITY AND OPPORTUNITY FOR LOWER INCOME NEW YORKERS WITHIN AND BEYOND THE JEWISH COMMUNITY BY MAKING SAFE, AFFORDABLE INTEREST-FREE LOANS. HFLS IS A NON-SECTARIAN LENDER, SERVING THE NEW YORK CITY METROPOLITAN AREA SINCE 1892.TODAY, WE CONTINUE THAT TRADITION OF MAKING INTEREST-FREE LOANS AVAILABLE TO NEW YORKERS WHO NEED IMMEDIATE HELP OR WANT TO INVEST IN THEIR FUTURES, BUT CANNOT AFFORD OR DO NOT QUALIFY FOR COMMERCIAL CREDIT. HFLS MAINTAINS A 99.9% REPAYMENT RATE. SINCE OUR FOUNDING 130 YEARS AGO, HFLS HAS PROVIDED OVER $380 MILLION TO MORE THAN 900,000 BORROWERS. AS OUR LOANS ARE REPAID, THE CAPITAL IS LENT OUT AGAIN AND AGAIN, HELPING MORE PEOPLE AND MULTIPLYING THE IMPACT OVER TIME. HFLS IS UNIQUE. THERE ARE NO OTHER ORGANIZATIONS IN NEW YORK CITY THAT PROVIDE AN ARRAY OF INTEREST-FREE LOANS TO LOW-AND MODERATE-INCOME PEOPLE FACING FINANCIAL EMERGENCIES.
Activities or mission (Part I)
PROVIDES INTEREST-FREE LOANS TO INDIVIDUALS, FAMILIES AND BUSINESSES.
-
THE HEBREW FREE LOAN SOCIETY (HFLS) ADVANCES ECONOMIC STABILITY AND OPPORTUNITY FOR LOWER-INCOME NEW YORKERS WITHIN AND BEYOND THE JEWISH COMMUNITY BY MAKING SAFE, AFFORDABLE INTEREST-FREE LOANS. HFLS IS A NON-SECTARIAN LENDER, SERVING THE NEW YORK CITY AREA SINCE 1892.HFLS PROVIDES 0%-INTEREST LOANS TO ASSIST LOW AND MODERATE-INCOME HOUSEHOLDS WHO ARE STRUGGLING TO MANAGE SPIKES IN EXPENSES, DIPS IN INCOME, AND ALL TYPES OF EMERGENCY OR OUTSIZE NEEDS. HFLS LOANS HELP LOWER-INCOME INDIVIDUALS AND FAMILIES PAY FOR COLLEGE, GRADUATE SCHOOL, OR PROFESSIONAL TRAINING; MANAGE MEDICAL AND DENTAL EXPENSES; AFFORD MOVING COSTS AND SECURITY DEPOSITS; CONSOLATE AND REDUCE HIGH-INTEREST DEBT; START OR EXPAND A SMALL BUSINESS; ACCESS EXPENSIVE SPECIAL EDUCATION SERVICES FOR THEIR SPECIAL NEEDS CHILDREN; PAY IMMIGRATION AND LEGAL FEES; AND MORE. AT END OF FY23, HFLS HAD 3,989 LOANS OUTSTANDING TOTALING $34.14 MILLION; IN FY23 ALONE, HFLS DISBURSED 2,033 LOANS TOTALING MORE THAN $29 MILLION, AN INCREASE OF NEARLY $5.5M AND MORE THAN 100 LOANS OVER THE PRIOR FY.
Expenses $2,866,366 · Revenue $346,995
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ian ShrankIAN SHRANK
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Ellen M BraitmanELLEN M BRAITMAN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Edward S KaranEDWARD S KARAN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Paul SiegelPAUL SIEGEL
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Alon LedermanALON LEDERMAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Steven AdelsbergSTEVEN ADELSBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Victoria BengualidVICTORIA BENGUALID
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Will BressmanWILL BRESSMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Andrew DanskerANDREW DANSKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Mark GersteinMARK GERSTEIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
David GglasserDAVID GGLASSER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Joel HirschtrittJOEL HIRSCHTRITT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Kimberley S JohnsonKIMBERLEY S JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Alan LaytnerALAN LAYTNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Greg LevinGREG LEVIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Ana DemelANA DEMEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jane EisnerJANE EISNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Mark B RubinMARK B RUBIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Lynne GallerLYNNE GALLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Simeon SiegelSIMEON SIEGEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Andrew TananbaumANDREW TANANBAUM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jonathan BrickmanJONATHAN BRICKMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Jamie HarrisJAMIE HARRIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Stacey ZolandSTACEY ZOLAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Shlomo HaftSHLOMO HAFT
ME PROGRAM DIRECTOR
- Total calculated
- $130,828
- From this org
- $109,502
- From related orgs
- $0
- Other
- $21,326
- Hours/week
- 40
-
David RosennDAVID ROSENN
PRESIDENT & CEO
- Total calculated
- $238,241
- From this org
- $210,786
- From related orgs
- $0
- Other
- $27,455
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $210,786
- Bonus
- $0
- Other
- $0
- Deferred
- $8,037
- Nontaxable benefits
- $19,418
- Filer's total
- $238,241
-
Kimberley KaplanKIMBERLEY KAPLAN
DEPUTY DIRECTOR
- Total calculated
- $195,774
- From this org
- $171,127
- From related orgs
- $0
- Other
- $24,647
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $171,127
- Bonus
- $0
- Other
- $0
- Deferred
- $6,151
- Nontaxable benefits
- $18,496
- Filer's total
- $195,774
-
Daren ScottDAREN SCOTT
DIRECTOR OF FINANACE AND ADMIN.
- Total calculated
- $164,554
- From this org
- $141,210
- From related orgs
- $0
- Other
- $23,344
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $141,210
- Bonus
- $0
- Other
- $0
- Deferred
- $4,848
- Nontaxable benefits
- $18,496
- Filer's total
- $164,554
-
Rachel ChaskyRACHEL CHASKY
DEVELOPMENT DIRECTOR
- Total calculated
- $162,503
- From this org
- $140,002
- From related orgs
- $0
- Other
- $22,501
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,002
- Bonus
- $0
- Other
- $0
- Deferred
- $4,848
- Nontaxable benefits
- $17,653
- Filer's total
- $162,503
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
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 18 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400829349300600
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