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Cdcli Funding Corporation

Tax-deductible

Melville, NY501(c)(3)Human ServicesEIN 11-3418906

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Cdcli Funding corp. Offers residential loan products which assist first-time buyers in purchasing a home and existing homeowners with needed repairs & improvements.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 5 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $454K a year · 62% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $245K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.6M
69% of total assets
Worth a look: liabilities are 69% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$540K
+41% vs prior year
Spent
$387K
To programs
91%
Net assets
$3.9M
By yearFY2020–FY2024
Revenue
$540K
FY2024▲ +41%
Revenue by fiscal year
FY2020$928K
FY2021$303K
FY2022$1.5M
FY2023$383K
FY2024$540K
Expenses
$387K
FY2024▲ +14%
Expenses by fiscal year
FY2020$286K
FY2021$181K
FY2022$217K
FY2023$339K
FY2024$387K
Net assets
$3.9M
FY2024▲ +4%
Net assets by fiscal year
FY2020$2.3M
FY2021$2.4M
FY2022$3.7M
FY2023$3.7M
FY2024$3.9M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $351K Management & general 9% · $36K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Anne-Marie Scheidt
Board Member/Chair
$0Pt VII · Sec A
Brian Clarke
Board Member
$0Pt VII · Sec A
Gwen O'Shea
President/CEO
$0Pt VII · Sec A
James Coughlan
Board Member
$0Pt VII · Sec A
Richard Roberts
Board Member
$0Pt VII · Sec A
Theresa Sanders
Board Member/Vice Chair
$0Pt VII · Sec A
Alan Heitner
CFO/ Treasurer (until August 2024)
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cdcli Funding Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides home purchase loans for first-time buyers and repair loans for existing homeowners.

Provided by the organization

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1 program · $351K · in their own filed words · FY2024
01

Program service expenses incurred in connection with overseeing all operational aspects of the cdfi. Outreach, education, loan process, underwriting, closing and loan management.

$351Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Community Development Corporation of Long Island INCFY2024$245K
Total grants receivedfrom 1 funder$245K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$540K
Ln 12
Gifts and grantsLn 1h$297K
Fees for servicesLn 2g$243K
Money outPt IX
$387K
Ln 25
Programscol B$351K
Managementcol C$36K
Owns and owesPt X
$3.9M
net assets · Ln 32
Cash and savingsLn 1–2$686K
Total assetsLn 16$12.5M
LiabilitiesLn 26$8.6M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$297K
Government grantsLn 1e$52K
Fees for servicesLn 2g$243K
Total revenueLn 12$540K
Assets in detailPt X, end of year
CashLn 1$250K
SavingsLn 2$435K
Cash and savings togetherLn 1–2$686K
Total assetsLn 16$12.5M
LiabilitiesLn 26$8.6M
Net assetsLn 32$3.9M
OperationsPt I, VI
EmployeesI 51
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$686K
Total assetsLn 16$9.8M$12.5M
LiabilitiesLn 26$6.1M$8.6M
Net assetsLn 32$3.7M$3.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$9K$9K
Pension plan contributionsLn 8$738$738
Payroll taxesLn 10$954$954
Management feesLn 11a$283K$246K$36K
Legal feesLn 11b$409$409
Office expensesLn 13$521$521
InterestLn 20$41K$41K
Other expenses (24a–d)Ln 24$51K$51K
Total functional expensesLn 25$387K$351K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $540K$387K$153K$3.9M 990 PDF
FY2023 $383K$339K$45K$3.7M 990 PDF
FY2022 $1.5M$217K$1.3M$3.7M 990 PDF
FY2021 $303K$181K$123K$2.4M 990 PDF
FY2020 $928K$286K$642K$2.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $540,097 across 5 lines filed
VIII-1d Related organizations$245,000
VIII-1e Government grants$52,477
VIII-1h Total contributions, gifts and grants$297,477
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $242,620$242,620
VIII-12 Total revenueRelated to mission $242,620 · Unrelated business $0 · Excluded from tax $0$540,097
Part IX · Statement of functional expenses $386,990 across 8 lines filed
IX-7 Other salaries and wagesPrograms $9,296$9,296
IX-8 Pension plan contributionsPrograms $738$738
IX-10 Payroll taxesPrograms $954$954
IX-11a Management feesPrograms $246,473 · Management $36,179$282,652
IX-11b Legal feesPrograms $409$409
IX-13 Office expensesPrograms $521$521
IX-20 InterestPrograms $41,188$41,188
IX-24 Other expenses (24a–d)Programs $51,232$51,232
IX-25 Total functional expensesPrograms $350,811 · Management $36,179 · Fundraising $0$386,990
Part X · Balance sheet $12,460,862 assets, 11 lines filed
Asset lines not itemized here account for $11,639,174; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $243,298$250,471
X-2 Savings and temporary cash investmentsStart of year $871,930$435,342
X-4 Accounts receivableStart of year $52,847$63,538
X-14 Intangible assetsStart of year $71,039$72,337
X-16 Total assetsStart of year $9,828,456$12,460,862
X-24 Unsecured notes and loans payableStart of year $617,224$538,679
X-25 Other liabilitiesStart of year $5,482,346$8,040,190
X-26 Total liabilitiesStart of year $6,099,570$8,578,869
X-27 Net assets without donor restrictionsStart of year $3,728,886$3,881,993
X-32 Total net assets or fund balancesStart of year $3,728,886$3,881,993
X-33 Total liabilities and net assetsStart of year $9,828,456$12,460,862
Part XI · Reconciliation of net assets $3,881,993 net assets at year end
XI-1 Total revenue$540,097
XI-2 Total expenses$386,990
XI-3 Revenue less expenses$153,107
XI-4 Net assets at start of year$3,728,886
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,881,993

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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