Community First Fund FY2023 filing

Tax-deductible

Lancaster, PA501(c)(3)Since 1992HousingEIN 23-2689714Revenue $17.3M in FY2023

On file with the IRScommunityfirstfund.org51 S Duke St Ste 400, 17602-3573 · Lancaster, PATax-exempt since Mar 1993Publicly supported charity — 170(b)(1)(A)(vi)

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To provide loans and technical assistance to housing & economic development projects that have a direct and measurable benefit for low income persons and contribute to social progress and economic development.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $6.5M a year · 25% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
30 mo
of spending, in cash
Looks good: 30.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $403K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$87.6M
70% of total assets
Worth a look: liabilities are 70% of assets; over 65%.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.3M
-0.7% vs prior year
Spent
$13.0M
To programs
84%
Net assets
$40.8M
By yearFY2020–FY2025
Revenue
$17.3M
FY2023▼ -0.7%
Tap a bar for its year
Revenue by fiscal year
FY2020$12.6M
FY2021$45.0M
FY2022$17.5M
FY2023$17.3M
FY2024$22.6M
FY2025$40.0M
Expenses
$13.0M
FY2023▲ +60%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.8M
FY2021$34.8M
FY2022$8.1M
FY2023$13.0M
FY2024$14.7M
FY2025$34.7M
Net assets
$40.8M
FY2023▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2020$18.3M
FY2021$48.4M
FY2022$57.9M
FY2023$40.8M
FY2024$55.3M
FY2025$59.0M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1993.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $11.0M Management & general 22% · $2.9M Fundraising 7% · $878K

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

42 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$313,572Pt VII · Sec A
$313,572Pt VII · Sec A
$182,938Pt VII · Sec A
$182,938Pt VII · Sec A
Chief Strat.
$177,389Pt VII · Sec A
Chief Strat.
$177,389Pt VII · Sec A
Housing & Cr
$142,517Pt VII · Sec A
Housing and
$142,517Pt VII · Sec A

Daniel Betancourt’s $385K as President & is at the 89th percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Daniel Betancourt$385,375$363,943$313,572$307,238$275,612$242,784
Joan Brodhead$208,549$206,704$177,389$167,235$208,928$149,447
Jonathan Encarnacion$206,465—————
Edward Gallagher$197,850—————
Dragan Dodik$187,621—$104,593———
Anthony Pappion—$58,794$182,938$166,513$110,197—
Elizabeth Bennett$180,091$9,176————
James Buerger$167,679$158,342$142,517$155,311$163,163$152,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 loans and technical assistance to housing and economic development projects that benefit low-income individuals and drive social and economic progress in Pennsylvania.

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Provided by the organization

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4 programs · $20.8M · in their own filed words · FY2022
01

Community first fund promotes community and economic development by providing affordable loans to entities throughout central and eastern pennsylvania, including small businesses, developers of affordable housing, community-based organizations, women, people of color.

$11.0Mprogram expense
02

Community first fund promotes community and ecenomic development by providing affordable loans to entities throughout central and eastern pennsylvania, including small businesses, developers of affordable housing, community-based organizations, women, people of color.

$9.8Mprogram expense
03

New markets tax credit program to date the organization was granted 90 million of new markets tax credit allocation from the us treasury. The organization has entered into agreements with investor members to fund 14 new markets tax credit projects throughout central and eastern pa. Six projects are remaining at 6/30/2023.

$8Kprogram expense
04

New markets tax credit program to date the organization was granted 90 million of new markets tax credit allocation from the us treasury. The organization has entered into agreements with investor members to fund 14 new markets tax credit projects throughout central and eastern pa. Six projects are remaining at 6/30/2023.

$8Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 10 funders →
Grants paid · 12 grants · $37.7M · 2019–2024
Community First Fund Federal CreditFY2024$15,940,585
Community First Fund Federal CreditFY2023$861,117
Community First Fund Federal CreditFY2022$644,925
Community First Fund Federal CreditFY2022$644,925
Unitemized GrantFY2020$11,460,010
Community First Fund Federal Cr UnFY2020$7,113,524
Impact Loan Fund INCPA · FY2020$180,000
Assets LancasterPA · FY2020$143,200
PA Cdfi NetworkPA · FY2020$73,651
York CountyFY2020$22,500
Impact HarrisburgPA · FY2019$350,000
Assets LancasterPA · FY2019$250,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$17.3M
Ln 12
Gifts and grantsLn 1h$12.1M
Fees for servicesLn 2g$7.5M
Money outPt IX
$13.0M
Ln 25
Programscol B$11.0M
Managementcol C$2.9M
Fundraisingcol D$878K
Owns and owesPt X
$40.8M
net assets · Ln 32
Cash and savingsLn 1–2$33.2M
Total assetsLn 16$124.3M
LiabilitiesLn 26$87.6M
PeoplePt VI, VII
42
listed · VII A
PaidVII A12
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.1M
Government grantsLn 1e$8.2M
Fees for servicesLn 2g$7.5M
Total revenueLn 12$17.3M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$33.2M
Total assetsLn 16$124.3M
LiabilitiesLn 26$87.6M
Net assetsLn 32$40.8M
OperationsPt I, VI
EmployeesI 594
VolunteersI 619
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $40.0M$34.7M$5.3M$59.0M 990 PDF
FY2024 $22.6M$14.7M$7.9M$55.3M 990 PDF
FY2023 Viewing $17.3M$13.0M$4.3M$40.8M 990 PDF
FY2022 $17.5M$8.1M$9.3M$57.9M 990 PDF
FY2021 $45.0M$34.8M$10.2M$48.4M 990 PDF
FY2020 $12.6M$10.8M$1.8M$18.3M 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 FY2023 990 (1 part)
Part VI · Governance 13 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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