Hebrew Free Loan Association

Analysis

Hebrew Free Loan Association is a registered charity in United States, based in Bloomfld HLS, MI. It received its IRS tax-exemption ruling in August 1984, 42 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 May 2024, Hebrew Free Loan Association reported income of $1.2m and spending of $1.0m, spending 86% of its income. Across the 5 years on record, from May 2020 to May 2024, income fell from $2.6m to $1.2m (-55%), an average of -18% a year. The sharpest change came in the year to May 2021, when income dropped by 54%. Over the whole period it spent 66% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hebrew Free Loan Association 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 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include North Texas Family Health Foundation ($1.2m), Langley for Families - the Foundation of Lfcu ($1.2m) and Lemars Community School District Foundation ($1.2m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 74% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $315k (31% of expenses). Other salaries and wages came to $274k. At year end it held assets of $14.6m against liabilities of $260k, net assets of $14.3m. It reported 7 employees.