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Nonprofiteer
← BALTIMORE COMMUNITY LENDING INC

Form 990 for tax year 2022

Filed by BALTIMORE COMMUNITY LENDING INC.

Totals

Total revenue
$4,865,383
Total expenses
$3,975,555
Contributions and grants received
$2,390,536
Grants paid
$546,150
Program service revenue
$2,392,998
Investment income
$81,849
Other revenue
$0
Total assets, end of year
$37,305,565
Total liabilities, end of year
$20,143,885
Net assets or fund balances, end of year
$17,161,680
Program services expenses (Part IX)
$3,185,350
Management and general expenses
$599,980
Fundraising expenses
$190,225
Program service expenses (Part III)
$3,185,350

Program services were 80.1% 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)

    $208,140

  • 1f · All other contributions, gifts and grants

    $2,182,396

  • 2a · Program service revenue: INTEREST INCOME ON NOT

    total $1,456,026 · related or exempt $1,456,026

  • 2b · Program service revenue: FEE INCOME AND OTHER

    total $936,972 · related or exempt $936,972

  • 3 · Investment income

    total $81,849 · excluded $81,849

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $546,150 · program services $546,150

  • 7 · Other salaries and wages

    total $1,551,885 · program services $1,100,901 · management and general $295,126 · fundraising $155,858

  • 9 · Other employee benefits

    total $218,754 · program services $155,183 · management and general $41,601 · fundraising $21,970

  • 10 · Payroll taxes

    total $116,579 · program services $82,701 · management and general $22,170 · fundraising $11,708

  • 11b · Fees: legal

    total $151,270 · program services $107,310 · management and general $43,960

  • 11c · Fees: accounting

    total $26,000 · program services $18,444 · management and general $7,556

  • 11g · Fees: other

    total $56,459 · program services $40,052 · management and general $16,407

  • 12 · Advertising and promotion

    total $116,073 · program services $82,342 · management and general $33,731

  • 13 · Office expenses

    total $46,385 · program services $32,905 · management and general $13,480

  • 14 · Information technology

    total $116,359 · program services $82,545 · management and general $33,814

  • 16 · Occupancy

    total $107,600 · program services $76,331 · management and general $31,269

  • 17 · Travel

    total $16,799 · program services $11,917 · management and general $4,882

  • 20 · Interest

    total $469,262 · program services $469,262

  • 22 · Depreciation, depletion and amortization

    total $52,009 · program services $36,895 · management and general $15,114

  • 23 · Insurance

    total $28,163 · program services $19,979 · management and general $8,184

  • 24a · Other expenses: BAD DEBT EXPENSE/(RECOV

    total $242,949 · program services $242,949

  • 24b · Other expenses: BANK CHARGES

    total $33,824 · program services $23,995 · management and general $9,829

  • 24c · Other expenses: STAFF TRAINING

    total $25,909 · program services $18,380 · management and general $7,529

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $17,437 · program services $12,370 · management and general $5,067

  • 24e · All other expenses

    total $35,689 · program services $24,739 · management and general $10,261 · fundraising $689

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,647,929 · end of year $6,442,660

  • 4 · Accounts receivable

    beginning of year $128,202 · end of year $2,900,637

  • 7 · Other notes and loans receivable

    beginning of year $18,435,171 · end of year $25,667,343

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,700 · end of year $50,982

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

    $667,508

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

    $386,956

  • 10c · Land, buildings and equipment, net

    beginning of year $127,695 · end of year $280,552

  • 11 · Investments: publicly traded securities

    beginning of year $15,300 · end of year $1,608,331

  • 12 · Investments: other securities

    beginning of year $137,903 · end of year $355,060

  • 17 · Accounts payable and accrued expenses

    beginning of year $199,812 · end of year $218,533

  • 19 · Deferred revenue

    beginning of year $0 · end of year $717,900

  • 21 · Escrow or custodial account liability

    beginning of year $126,742 · end of year $150,724

  • 23 · Secured mortgages and notes payable

    beginning of year $15,969,051 · end of year $19,056,728

  • 27 · Net assets without donor restrictions

    beginning of year $14,787,749 · end of year $15,094,180

  • 28 · Net assets with donor restrictions

    beginning of year $1,462,546 · end of year $2,067,500

Mission and programs · 2022

Mission

THE MISSION OF BALTIMORE COMMUNITY LENDING IS TO SUPPORT REVITALIZATION AND STRENGTHENING OF UNDERSERVED BALTIMORE NEIGHBORHOODS THROUGH INNOVATIVE AND FLEXIBLE FINANCIAL ASSISTANCE DESIGNED TO FOSTER COMMUNITY DEVELOPMENT.

  • COMMUNITY DEVELOPMENT LOAN PORTFOLIO MANAGEMENT MAINTAIN, MANAGE AND SERVICE APPROXIMATELY 50 COMMUNITY DEVELOPMENT LOAN ASSETS TOTALING APPROXIMATELY $17 MILLION AND REPRESENTING IN EXCESS OF 400 AFFORDABLE HOUSING UNITS, COUNSEL AND ADVISE EXISTING BORROWERS CONCERNING LOAN COMPLIANCE BEST PRACTICES, AND ASSIST STRUGGLING BORROWERS TO IDENTIFY AVAILABLE REMEDIES IN THE EVENT OF PAYMENT AND/OR PERFORMANCE CHALLENGES.

    Expenses $3,135,453 · Grants $546,150 · Revenue $1,780,572

  • THE SMALL BUSINESS DEVISION IS A FIVE-YEAR-OLD SMALL BUSINESS LOAN INITIATIVE WHICH PROVIDES FINANCING FOR CREDIT WORTHY BUSINESSES THAT LACK EQUITY OR ARE NOT OTHERWISE ELIGIBLE FOR TRADITIONAL FINANCING. IT MAINTAINS , MANAGES AND SERVICES APPROXIMATELY 132 SMALL BUSINESS LOANS TOTALING APPROXIMATELY $9,045,865 FOR START-UP AND EXPANDING BUSINESSES.

    Expenses $49,897 · Revenue $612,426

As filed on the 2022 return.

Listed in Part VII

  • Michael Tagg

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • Jeffrey C Wilke

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • Antony Gross

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • Linda Harrington

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • Alex Aaron

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Alice Kennedy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Christopher Rockey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Eduardo Hayden

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Gerard Joab

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Nichole Doye Battle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Paul T Graziano

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Colleen Kline

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • Watchen Harris Bruce

    PRESIDENT AND CEO

    Total calculated
    $148,479
    From this org
    $148,479
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Sean Russell

    VP & CHIEF LENDING OFFICER

    Total calculated
    $116,112
    From this org
    $116,112
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Clarence Snuggs

    SVP & CHIEF OPERATING OFFICER

    Total calculated
    $131,312
    From this org
    $131,312
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CREO INC

    501(C)(3) · HOLDS TITLE TO REAL PROPERTY SECURING DEFAULTED LOANS FROM BCL. · MD · controlled entity

    Directly controlled by BALTIMORE COMMUNITY LENDING INC

  • BUSINESS DEVELOPMENT & RESOURCE CENTER - BCL COMMUNITY FACILITY INC

    501(C)(3) · PROVIDE TRAINING AND ACCESS TO CAPITAL FUNDING, BUSINESS DEVELOPMENT KNOWLED · MD · controlled entity

    Directly controlled by BALTIMORE COMMUNITY LENDING INC

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202410379349300321

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