Hartford Community Loan Fund Inc

Analysis

Hartford Community Loan Fund Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hartford Community Loan Fund Inc reported income of $1.6m and spending of $1.5m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.6m (+53%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hartford Community Loan Fund Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within CT. Charities of a similar size with the same main cause include Finishing Trades Inst of West Penns Yldist Coun No 57 Jntapprtrain FD ($1.6m), Change Labs ($1.6m) and Vietnamese Minnesotans Association ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $144k (9.4% of expenses). Other salaries and wages came to $685k. At year end it held assets of $17.5m against liabilities of $8.1m, net assets of $9.4m. It reported 9 employees.