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Nonprofiteer
← BALTIMORE COMMUNITY LENDING INC

Form 990 for tax year 2023

Filed by BALTIMORE COMMUNITY LENDING INC.

Totals

Total revenue
$6,394,581
Total expenses
$5,248,201
Contributions and grants received
$4,080,232
Grants paid
$69,750
Program service revenue
$2,133,184
Investment income
$178,351
Other revenue
$2,814
Total assets, end of year
$40,362,956
Total liabilities, end of year
$22,091,376
Net assets or fund balances, end of year
$18,271,580
Program services expenses (Part IX)
$4,291,305
Management and general expenses
$735,328
Fundraising expenses
$221,568
Program service expenses (Part III)
$4,291,305

Program services were 81.8% 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.

  • 1e · Government grants (contributions)

    $3,790,111

  • 1f · All other contributions, gifts and grants

    $290,121

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

    total $1,735,563 · related or exempt $1,735,563

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

    total $397,621 · related or exempt $397,621

  • 3 · Investment income

    total $178,351 · excluded $178,351

  • 8a · Fundraising events: gross income

    $10,000

  • 8b · Fundraising events: direct expenses

    $7,186

  • 8c · Net income from fundraising events

    total $2,814 · excluded $2,814

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $69,750 · program services $69,750

  • 5 · Compensation of officers, directors and key employees

    total $183,061 · program services $129,863 · management and general $34,813 · fundraising $18,385

  • 7 · Other salaries and wages

    total $1,632,469 · program services $1,158,066 · management and general $310,451 · fundraising $163,952

  • 9 · Other employee benefits

    total $252,339 · program services $179,008 · management and general $47,988 · fundraising $25,343

  • 10 · Payroll taxes

    total $138,284 · program services $98,098 · management and general $26,298 · fundraising $13,888

  • 11b · Fees: legal

    total $129,688 · program services $92,078 · management and general $37,610

  • 11c · Fees: accounting

    total $21,800 · program services $15,478 · management and general $6,322

  • 11g · Fees: other

    total $240,442 · program services $170,714 · management and general $69,728

  • 12 · Advertising and promotion

    total $46,018 · program services $32,645 · management and general $13,373

  • 13 · Office expenses

    total $58,103 · program services $41,218 · management and general $16,885

  • 14 · Information technology

    total $129,463 · program services $91,841 · management and general $37,622

  • 16 · Occupancy

    total $81,723 · program services $57,974 · management and general $23,749

  • 17 · Travel

    total $35,643 · program services $25,285 · management and general $10,358

  • 19 · Conferences, conventions and meetings

    total $21,154 · program services $15,006 · management and general $6,148

  • 20 · Interest

    total $552,472 · program services $552,472

  • 22 · Depreciation, depletion and amortization

    total $84,740 · program services $60,114 · management and general $24,626

  • 23 · Insurance

    total $101,918 · program services $72,300 · management and general $29,618

  • 24a · Other expenses: BAD DEBT

    total $1,332,395 · program services $1,332,395

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $77,185 · program services $54,753 · management and general $22,432

  • 24c · Other expenses: BANK CHARGES

    total $32,092 · program services $22,766 · management and general $9,326

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $27,462 · program services $19,481 · management and general $7,981

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,442,660 · end of year $7,720,104

  • 4 · Accounts receivable

    beginning of year $2,900,637 · end of year $19,428

  • 5 · Loans and receivables from officers and key people

    end of year $374,000

  • 7 · Other notes and loans receivable

    beginning of year $25,667,343 · end of year $26,522,913

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,982 · end of year $154,180

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

    $4,373,304

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

    $472,110

  • 10c · Land, buildings and equipment, net

    beginning of year $280,552 · end of year $3,901,194

  • 11 · Investments: publicly traded securities

    beginning of year $1,608,331 · end of year $1,671,137

  • 12 · Investments: other securities

    beginning of year $355,060

  • 17 · Accounts payable and accrued expenses

    beginning of year $218,533 · end of year $285,224

  • 19 · Deferred revenue

    beginning of year $717,900 · end of year $1,084,328

  • 21 · Escrow or custodial account liability

    beginning of year $150,724 · end of year $64,035

  • 23 · Secured mortgages and notes payable

    beginning of year $19,056,728 · end of year $20,657,789

  • 27 · Net assets without donor restrictions

    beginning of year $15,094,180 · end of year $16,301,580

  • 28 · Net assets with donor restrictions

    beginning of year $2,067,500 · end of year $1,970,000

Mission and programs · 2023

Mission

THE MISSION OF BALTIMORE COMMUNITY LENDING IS SUPPORTING THE REVITALIZATION AND STRENGTHENING OF UNDERSERVED COMMUNITIES IN THE GREATER BALTIMORE REGION THROUGH INNOVATIVE FINANCIAL SOLUTIONS AND COLLABORATIVE RESOURCES DESIGNED TO PROMOTE COMMUNITY DEVELOPMENT.

Activities or mission (Part I)

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 $4,217,630 · Grants $69,750 · Revenue $1,520,858

  • THE SMALL BUSINESS DIVISION 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 $73,675 · Revenue $612,326

As filed on the 2023 return.

Listed in Part VII

  • WATCHEN HARRIS BRUCE

    PRESIDENT AND CEO

    Total calculated
    $182,712
    From this org
    $182,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,712
    Bonus
    $3,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $182,712

  • MICHAEL TAGG

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • ALEX AARON

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • ANTONY GATES

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3

  • LINDA HARRINGTON

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • ALICE KENNEDY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • GEORGE VON ZEDLITZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • GERARD JOAB

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • JEFFREY C WILKE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

  • PAUL T GRAZIANO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.3

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.

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) · OFFERS WRAP-AROUND BUSINESS SERVICES IN PARTNERSHIP, COLLABORATION, AND/OR S · MD · controlled entity

    Directly controlled by BALTIMORE COMMUNITY LENDING INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202511359349311181

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