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Nonprofiteer
← NEW HAMPSHIRE COMMUNITY LOAN FUND

Form 990 for tax year 2024

Filed by NEW HAMPSHIRE COMMUNITY LOAN FUND.

Totals

Total revenue
$75,052,598
Total expenses
$57,935,743
Contributions and grants received
$57,846,893
Grants paid
$41,795,010
Program service revenue
$17,510,006
Investment income
$1,109,826
Other revenue
-$1,414,127
Total assets, end of year
$237,353,910
Total liabilities, end of year
$163,574,882
Net assets or fund balances, end of year
$73,779,028
Program services expenses (Part IX)
$56,395,651
Management and general expenses
$1,063,866
Fundraising expenses
$476,226
Program service expenses (Part III)
$56,395,651

Program services were 97.3% 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)

    $42,956,985

  • 1f · All other contributions, gifts and grants

    $14,889,908

  • 1g · Noncash contributions included above

    $129,896

  • 2a · Program service revenue: INTEREST FROM LOANS

    total $13,298,248 · related or exempt $13,298,248

  • 2b · Program service revenue: GRANT ADMINISTRATION FEES

    total $3,821,756 · related or exempt $3,821,756

  • 2c · Program service revenue: LOAN RELATED FEES

    total $374,885 · related or exempt $374,885

  • 2d · Program service revenue: TRAINING AND OTHER FEES

    total $15,117 · related or exempt $15,117

  • 3 · Investment income

    total $1,109,826 · excluded $1,109,826

  • 11a · Other revenue: RECOVERY FOR CREDIT LOSSES

    total $55,507 · related or exempt $55,507

  • 11b · Other revenue: PROGRAM RELATED DEV. INVEST.

    total -$1,469,634 · related or exempt -$1,469,634

  • 11e · Other revenue, total

    -$1,414,127

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $41,795,010 · program services $41,795,010

  • 5 · Compensation of officers, directors and key employees

    total $761,456 · program services $347,489 · management and general $375,895 · fundraising $38,072

  • 7 · Other salaries and wages

    total $5,497,426 · program services $5,172,215 · management and general $82,806 · fundraising $242,405

  • 8 · Pension plan contributions

    total $324,294 · program services $307,273 · management and general $3,222 · fundraising $13,799

  • 9 · Other employee benefits

    total $600,839 · program services $565,805 · management and general $9,377 · fundraising $25,657

  • 10 · Payroll taxes

    total $466,461 · program services $415,367 · management and general $30,722 · fundraising $20,372

  • 11b · Fees: legal

    total $22,080 · program services $20,293 · management and general $1,569 · fundraising $218

  • 11c · Fees: accounting

    total $127,806 · program services $93,687 · management and general $30,018 · fundraising $4,101

  • 11d · Fees: lobbying

    total $120,016 · program services $93,805 · management and general $23,165 · fundraising $3,046

  • 11g · Fees: other

    total $606,299 · program services $476,186 · management and general $110,609 · fundraising $19,504

  • 12 · Advertising and promotion

    total $21,047 · program services $20,793 · management and general $216 · fundraising $38

  • 13 · Office expenses

    total $723,618 · program services $529,774 · management and general $99,163 · fundraising $94,681

  • 14 · Information technology

    total $52,049 · program services $39,444 · management and general $11,147 · fundraising $1,458

  • 16 · Occupancy

    total $176,047 · program services $102,797 · management and general $70,582 · fundraising $2,668

  • 17 · Travel

    total $171,387 · program services $153,868 · management and general $15,463 · fundraising $2,056

  • 19 · Conferences, conventions and meetings

    total $110,489 · program services $107,616 · management and general $2,523 · fundraising $350

  • 20 · Interest

    total $4,997,922 · program services $4,997,922

  • 22 · Depreciation, depletion and amortization

    total $256,038 · program services $137,395 · management and general $115,445 · fundraising $3,198

  • 23 · Insurance

    total $155,588 · program services $90,318 · management and general $63,085 · fundraising $2,185

  • 24a · Other expenses: CREDIT LOSS PROVISION

    total $687,235 · program services $687,235

  • 24b · Other expenses: STAFF TRAINING

    total $153,756 · program services $132,479 · management and general $18,859 · fundraising $2,418

  • 24c · Other expenses: TECHNICAL ASSISTANCE

    total $108,880 · program services $108,880

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $20,359,033 · end of year $17,412,987

  • 3 · Pledges and grants receivable

    beginning of year $1,369,819 · end of year $1,023,383

  • 4 · Accounts receivable

    beginning of year $822,166 · end of year $879,786

  • 9 · Prepaid expenses and deferred charges

    beginning of year $257,591 · end of year $559,335

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

    $6,759,483

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

    $3,236,969

  • 10c · Land, buildings and equipment, net

    beginning of year $3,452,537 · end of year $3,522,514

  • 11 · Investments: publicly traded securities

    beginning of year $2,000,647 · end of year $1,985,800

  • 13 · Investments: program-related

    beginning of year $191,898,256 · end of year $211,970,105

  • 15 · Other assets

    beginning of year $65,000 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,191,268 · end of year $2,679,567

  • 19 · Deferred revenue

    beginning of year $186,958 · end of year $67,093

  • 24 · Unsecured notes and loans payable

    beginning of year $149,332,953 · end of year $149,193,418

  • 25 · Other liabilities

    beginning of year $11,691,231 · end of year $11,634,804

  • 27 · Net assets without donor restrictions

    beginning of year $44,364,266 · end of year $61,835,780

  • 28 · Net assets with donor restrictions

    beginning of year $12,458,373 · end of year $11,943,248

Mission and programs · 2024

Mission

OUR MISSION IS TO PROVIDE PEOPLE AND COMMUNITIES, IN NEW HAMPSHIRE AND BEYOND, WITH THE FINANCIAL, HUMAN, AND CIVIC RESOURCES THEY NEED TO BE ECONOMICALLY SECURE. WE DO THIS BY PROVIDING LOANS, CAPITAL AND TECHNICAL ASSISTANCE TO BORROWERS ACROSS THREE BROAD SECTORS: AFFORDABLE HOUSING, BUSINESS FINANCE, AND COMMUNITY SERVICES; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS.ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE 2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD.

Activities or mission (Part I)

OUR MISSION IS TO PROVIDE PEOPLE AND COMMUNITIES, IN NEW HAMPSHIRE AND BEYOND, WITH THE FINANCIAL, HUMAN, AND CIVIC RESOURCES THEY NEED TO BE ECONOMICALLY SECURE. WE DO THIS BY PROVIDING LOANS, CAPITAL, AND COACHING TO BORROWERS ACROSS THREE BROAD SECTORS: AFFORDABLE HOUSING, BUSINESS FINANCE, AND COMMUNITY SERVICES; COMPLEMENTING AND EXTENDING THE REACH OF CONVENTIONAL LENDERS AND PUBLIC INSTITUTIONS; AND BRINGING PEOPLE AND INSTITUTIONS TOGETHER TO SOLVE PROBLEMS. ESTABLISHED IN 1983, THE COMMUNITY LOAN FUND WAS ONE OF THE FIRST COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS IN THE NATION AND IS RECOGNIZED AS A NATIONAL LEADER FOR ITS INNOVATION, SOCIAL IMPACT, FINANCIAL STRENGTH, AND PERFORMANCE. THE COMMUNITY LOAN FUND WAS THE2009 RECIPIENT OF THE NEXT AWARD FOR OPPORTUNITY FINANCE, THE HIGHEST HONOR IN OUR FIELD.

  • AFFORDABLE HOUSING - SEE SCHEDULE O

    Expenses $4,991,379 · Revenue $10,146,157

  • CAPITALIZATION AND PHILANTHROPY - SEE SCHEDULE O

    Expenses $6,749,291

  • BUSINESS FINANCE - SEE SCHEDULE O

    Expenses $44,530,472 · Grants $41,795,010 · Revenue $5,166,217

  • 1. SINCE 1984, OUR COMMUNITY SERVICES FINANCING HAS SUPPORTED ESSENTIAL SERVICES, INCLUDING CENTER- AND HOME-BASED EARLY CHILDHOOD EDUCATION, BY HELPING NONPROFIT ORGANIZATIONS BUY, RENOVATE, OR BUILD FACILITIES. THE COMMUNITY LOAN FUND HAS MADE 143 COMMUNITY SERVICES LOANS TOTALING OVER $38.3 MILLION. IN FY2025, THE COMMUNITY LOAN FUND MADE 7 COMMUNITY SERVICES LOANS FOR $1,491,000.2. SINCE 2023, USDA IS PARTNERING WITH THE COMMUNITY LOAN FUND TO MAKE AVAILABLE $186,705,000 IN GRANTS THROUGH TWO NATION-WIDE PROGRAMS: THE LOCAL MEAT CAPACITY GRANT PROGRAM AND THE MEAT AND POULTRY PROCESSING EXPANSION PROGRAM. THE PROGRAMS AIM TO PROMOTE FAIRER, MORE COMPETITIVE AND MORE RESILIENT MEAT AND POULTRY SUPPLY CHAINS. THE COMMUNITY LOAN FUND WILL HELP USDA ADMINISTER THE PASS-THROUGH GRANTS OVER SIX YEARS (2024-2029). THESE REGRANTING ACTIVITIES ARE MANAGED UNDER THE COMMUNITY LOAN FUND'S SUSTAINABLE FOOD SYSTEMS PROGRAM (SFSP). IN FY2025, THE COMMUNITY LOAN FUND DISBURSED $41,706,985 IN PASS THROUGH GRANTS.

    Expenses $124,509 · Revenue $270,960

  • OTHER PROGRAMS

    Revenue $512,545

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Saltzman

    PRESIDENT & CEO

    Total calculated
    $293,217
    From this org
    $256,191
    From related orgs
    $0
    Other
    $37,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $231,191
    Bonus
    $25,000
    Other
    $0
    Deferred
    $15,531
    Nontaxable benefits
    $21,495
    Filer's total
    $293,217

  • Jamie Richardson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Colby Meehan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Reardon

    TREASURER (UNTIL 12/24)

    Total calculated
    $0
    Hours/week
    1

  • Andre Garron

    VICE TREAS./TREASURER (AS OF 12/24)

    Total calculated
    $0
    Hours/week
    1

  • Jim Kerouac

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Liz Larose

    VICE SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Michael Swack

    EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Sid Prabhakar

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ali Sekou

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Don Brueggemann

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Fickle

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joseph Gerakos

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pamela Rothgaber

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Victoria Staunches

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lionel Loveless

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rudy Glocker

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mayte Rivera

    MEMBER (3/25 - 8/25)

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Scadova

    CHIEF FINANCIAL OFFICER

    Total calculated
    $236,477
    From this org
    $203,794
    From related orgs
    $0
    Other
    $32,683
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,194
    Bonus
    $16,600
    Other
    $0
    Deferred
    $12,607
    Nontaxable benefits
    $20,076
    Filer's total
    $236,477

  • Sarah Marchant

    COO & VP OF ROC-NH

    Total calculated
    $227,098
    From this org
    $182,145
    From related orgs
    $0
    Other
    $44,953
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,545
    Bonus
    $16,600
    Other
    $0
    Deferred
    $11,524
    Nontaxable benefits
    $33,429
    Filer's total
    $227,098

  • Lucas Knowles

    DIR. SUSTAINABLE FOOD SYSTEMS PROGRAM

    Total calculated
    $202,885
    From this org
    $170,105
    From related orgs
    $0
    Other
    $32,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,505
    Bonus
    $26,600
    Other
    $0
    Deferred
    $10,981
    Nontaxable benefits
    $21,799
    Filer's total
    $202,885

  • Corey Sanborn-Potter

    EXECUTIVE VP OF LENDING AND CREDIT

    Total calculated
    $164,888
    From this org
    $154,677
    From related orgs
    $0
    Other
    $10,211
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,077
    Bonus
    $4,600
    Other
    $0
    Deferred
    $9,296
    Nontaxable benefits
    $915
    Filer's total
    $164,888

  • Katharine Cote

    VP OF EXTERNAL RELATIONS

    Total calculated
    $151,802
    From this org
    $128,551
    From related orgs
    $0
    Other
    $23,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,951
    Bonus
    $6,600
    Other
    $0
    Deferred
    $8,066
    Nontaxable benefits
    $15,185
    Filer's total
    $151,802

  • Kathleen Paradis

    VP OF RESIDENTIAL LENDING & COMPLIANCE

    Total calculated
    $156,018
    From this org
    $117,515
    From related orgs
    $0
    Other
    $38,503
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,915
    Bonus
    $5,600
    Other
    $0
    Deferred
    $7,371
    Nontaxable benefits
    $31,132
    Filer's total
    $156,018

  • Kaleigh Bullock

    VP OF ORGANIZATIONAL STRATEGY & COMM.

    Total calculated
    $130,298
    From this org
    $111,863
    From related orgs
    $0
    Other
    $18,435
    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. 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 · Form 990 of other organizations
  • 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

  • AMERICA'S HEARTLAND PACKING LLC

    $8,211,944

    MPPEP - PHASE 2

  • KORTE MEAT PROCESSORS INC

    $3,358,789

    MPPEP - PHASE 2

  • NINE TWENTY PROCESSING LLC

    $2,526,840

    LMCAP EXPANSION

  • NOAH'S ARK PROCESSORS LLC

    $2,115,945

    MPPEP - PHASE 2

  • JM WATKINS LLC

    $1,368,192

    MPPEP - PHASE 2

  • BEHRMANN MEAT & PROCESSING

    $1,321,078

    LMCAP EXPANSION

  • CREAM CO LLC

    $1,199,307

    LMCAP EXPANSION

  • SMOKING PIG LLC

    $1,136,519

    LMCAP EXPANSION

  • JESSICA ROOSA DBA THIS OLD FARM INC

    $1,069,489

    LMCAP EXPANSION

  • EDGEWOOD LOCKER INC

    $1,052,377

    LMCAP EXPANSION

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • CALEDONIA COMMUNITY LOAN FUND HOLDINGS LLC

    TO HOLD TWO PARCELS OF INDUSTRIAL LAND TO BE TRANSFERRED TO NHCLF IN FY25 · VT · income $0 · assets $0

    Directly controlled by NEW HAMPSHIRE COMMUNITY LOAN FUND INC

  • HOUSING AFFORDABILITY PARTNERSHIP LLC

    PARTNER WITH NH NONPROFIT AFFORDABLE HOUSING DEVELOPERS UTILIZING THE LIHTC · NH · income $0 · assets $898

    Directly controlled by NEW HAMPSHIRE COMMUNITY LOAN FUND INC

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202503119349300935

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