Skip to content
Nonprofiteer
← HARTFORD COMMUNITY LOAN FUND INC

Form 990 for tax year 2023

Filed by HARTFORD COMMUNITY LOAN FUND INC.

Totals

Total revenue
$2,140,887
Total expenses
$1,445,828
Contributions and grants received
$1,081,899
Grants paid
$0
Program service revenue
$978,868
Investment income
$110,105
Other revenue
-$29,985
Total assets, end of year
$26,158,647
Total liabilities, end of year
$16,053,303
Net assets or fund balances, end of year
$10,105,344
Program services expenses (Part IX)
$1,041,842
Management and general expenses
$403,986
Fundraising expenses
$0
Program service expenses (Part III)
$1,041,842

Program services were 72.1% 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)

    $550,930

  • 1f · All other contributions, gifts and grants

    $530,969

  • 2a · Program service revenue: INTEREST INCOME

    total $855,465 · related or exempt $855,465

  • 2b · Program service revenue: LOAN PORTFOLIO FEE INC

    total $123,403 · related or exempt $123,403

  • 3 · Investment income

    total $110,105 · excluded $110,105

  • 6a · Gross rents

    real property $77,063

  • 6b · Less rental expenses

    real property $107,048

  • 6c · Rental income or loss

    real property -$29,985

  • 6d · Net rental income or loss

    total -$29,985 · unrelated business -$29,985

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $145,508 · program services $101,856 · management and general $43,652

  • 7 · Other salaries and wages

    total $581,721 · program services $461,461 · management and general $120,260

  • 8 · Pension plan contributions

    total $17,872 · program services $14,460 · management and general $3,412

  • 9 · Other employee benefits

    total $73,736 · program services $58,215 · management and general $15,521

  • 10 · Payroll taxes

    total $59,113 · program services $46,107 · management and general $13,006

  • 11b · Fees: legal

    total $4,569 · program services $4,569

  • 11c · Fees: accounting

    total $28,000 · management and general $28,000

  • 11g · Fees: other

    total $139,579 · program services $120,788 · management and general $18,791

  • 12 · Advertising and promotion

    total $7,734 · program services $6,032 · management and general $1,702

  • 13 · Office expenses

    total $42,267 · program services $32,335 · management and general $9,932

  • 16 · Occupancy

    total $45,519 · program services $15,684 · management and general $29,835

  • 19 · Conferences, conventions and meetings

    total $9,630 · program services $7,512 · management and general $2,118

  • 20 · Interest

    total $188,810 · program services $129,194 · management and general $59,616

  • 22 · Depreciation, depletion and amortization

    total $35,049 · management and general $35,049

  • 23 · Insurance

    total $45,239 · program services $22,633 · management and general $22,606

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $13,231 · program services $13,081 · management and general $150

  • 24b · Other expenses: PROVISION FOR CREDIT LO

    total $6,723 · program services $6,723 · management and general $0

  • 24c · Other expenses: LOAN SERVICING EXPENSES

    total $1,528 · program services $1,192 · management and general $336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $301,789 · end of year $827,929

  • 2 · Savings and temporary cash investments

    beginning of year $3,358,075 · end of year $10,728,828

  • 3 · Pledges and grants receivable

    beginning of year $7,500

  • 4 · Accounts receivable

    beginning of year $81,841 · end of year $63,162

  • 7 · Other notes and loans receivable

    beginning of year $12,523,104 · end of year $12,978,703

  • 9 · Prepaid expenses and deferred charges

    beginning of year $82,681 · end of year $56,675

  • 10a · Land, buildings and equipment: cost or other basis

    $1,952,704

  • 10b · Land, buildings and equipment: accumulated depreciation

    $449,354

  • 10c · Land, buildings and equipment, net

    beginning of year $1,113,711 · end of year $1,503,350

  • 17 · Accounts payable and accrued expenses

    beginning of year $71,308 · end of year $62,411

  • 19 · Deferred revenue

    beginning of year $931,478 · end of year $1,692,399

  • 21 · Escrow or custodial account liability

    beginning of year $107,530 · end of year $278,744

  • 23 · Secured mortgages and notes payable

    beginning of year $441,831 · end of year $427,212

  • 24 · Unsecured notes and loans payable

    beginning of year $6,506,269 · end of year $13,592,537

  • 27 · Net assets without donor restrictions

    beginning of year $9,210,913 · end of year $9,939,080

  • 28 · Net assets with donor restrictions

    beginning of year $199,372 · end of year $166,264

Mission and programs · 2023

Mission

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

  • 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 CONTINUES TO SERVICE LOANS ORIGINATED UNDER A COMMERCIAL LOAN PROGRAM AND HOME IMPROVEMENT LOAN PROGRAM, BOTH OF WHICH WERE DISCONTINUED PRIOR TO FISCAL YEAR ENDING JUNE 30, 2015.

    Expenses $989,100 · Revenue $978,868

  • IN 2023, 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 $52,742

As filed on the 2023 return.

Listed in Part VII

  • Anna Emanuel

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Thomas Wood

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Emily Hultquist

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Annie Lazarus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steven Vaughan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lyle Fulton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Dellatorre

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Judge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Geoff Person

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sheldon Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael D Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rex Fowler

    CEO (THRU 7.7.24)

    Total calculated
    $143,756
    From this org
    $128,384
    From related orgs
    $0
    Other
    $15,372
    Hours/week
    40

  • Michael B Haynes

    CEO (EFFECTIVE 7.8.24)

    Total calculated
    $0
    Hours/week
    1

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.

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 $0 · assets $11,849

    Directly controlled by HARTFORD COMMUNITY LOAN FUND INC

  • 207-215 GARDEN STREET LLC

    COMMERCIAL RENTAL · CT · income $186,754 · assets $1,222,360

    Directly controlled by HARTFORD COMMUNITY LOAN FUND INC

  • BURTON CREEK PARTNERS LLC

    REAL ESTATE DEVELOPMENT CONSULTING · CT · income $17,113 · assets $260,048

    Directly controlled by HARTFORD COMMUNITY LOAN FUND INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 January 2025
IRS schema version
2023v6.0
Source object
202500279349300720

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.