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Community Lendingworks

Tax-deductible

Springfield, OR501(c)(3)Community Development EIN 45-3812405Revenue $1.0M in FY2024

On file with the IRScommunitylendingworks.org212 Main St, 97477-5370 · Springfield, ORTax-exempt since Aug 2023Supporting org, Type I — 509(a)(3)

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Community Lendingworks is a devnw affiliate nonprofit corporation that helps people move out of poverty and into the financial mainstream. We DO this by developing customized financial tools to help people work their way toward financial stability, and by financing Community and economic development, healthy food access, and real estate projects in distressed neighborhoods. Our primary aim is to serve individuals and families who lack the financial acumen and resources to build the assets they need in order to break their cycle of poverty for themselves and their children.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Run by 17 volunteers.
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
0 of 2
filings with a surplus
Average deficit $597K a year · 68% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
26 mo
of spending, in cash
Looks good: 25.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $356K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.7M
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 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
$1.0M
+43% vs prior year
Spent
$1.6M
To programs
88%
Net assets
$4.7M
By yearFY2023–FY2024
Revenue
$1.0M
FY2024▲ +43%
Tap a bar for its year
Revenue by fiscal year
FY2023$723K
FY2024$1.0M
Expenses
$1.6M
FY2024▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2023$1.3M
FY2024$1.6M
Net assets
$4.7M
FY2024▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2023$5.3M
FY2024$4.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Revoked Nov 2022, reinstated. IRS ruling Aug 2023, per the IRS master file. Latest filing on record: FY2024. IRS ruling in Aug 2023.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $1.4M Management & general 12% · $205K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Abel
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
David Hill
Director
$0Pt VII · Sec A
Emily Reiman
Chief Executive Officer
$0Pt VII · Sec A
Corinne Carmody-Riley
Chief Financial Officer
$0Pt VII · Sec A
See Community Lendingworks 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 15aNo

Programs and updates

Provides financial tools and funding for community development to help people escape poverty.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2024
01

Community lendingworks provides communities with affordable customizable loans to help them build financial stability. This resource allows clients to build credit, borrow for personal needs, start or grow a business, regardless of income level, racial identity or location.

$1.4Mprogram 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
Meyer Memorial TrustFY2024$150K
Northwest Area FoundationFY2024$125K
Network for Oregon Affordable HousingFY2024$50K
The Oregon Community FoundationFY2024$25K
Umpqua Bank Charitable FoundationFY2024$6K
Total grants receivedfrom 5 funders$356K
See all 5 funders →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$543K
Gifts and grantsLn 1h$543K
Investment incomeLn 3$84K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$205K
Owns and owesPt X
$4.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$10.4M
LiabilitiesLn 26$5.7M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$543K
Government grantsLn 1e$340K
Fees for servicesLn 2g$543K
Investment incomeLn 3$84K
Gains on assetsLn 7−$137K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$584K
SavingsLn 2$2.9M
Cash and savings togetherLn 1–2$3.5M
InvestmentsLn 11–13$105K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$190K
Total assetsLn 16$10.4M
LiabilitiesLn 26$5.7M
Net assetsLn 32$4.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
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$3.9M$3.5M
InvestmentsLn 11–13$0$105K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$10.7M$10.4M
LiabilitiesLn 26$5.5M$5.7M
Net assetsLn 32$5.3M$4.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$414K$258K$157K
Pension plan contributionsLn 8$6K$6K
Other employee benefitsLn 9$45K$29K$16K
Payroll taxesLn 10$41K$28K$13K
Management feesLn 11a$480K$480K
Legal feesLn 11b$35K$35K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$28K$25K$4K
Advertising and promotionLn 12$5K$5K$385
Office expensesLn 13$15K$13K$2K
Information technologyLn 14$81K$81K
TravelLn 17$5K$4K$1K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$149K$145K$3K
InsuranceLn 23$20K$11K$9K
Other expenses (24a–d)Ln 24$317K$317K
Total functional expensesLn 25$1.6M$1.4M$205K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.0M$1.6M−$616K$4.7M 990 PDF
FY2023 $723K$1.3M−$578K$5.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,031,668 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $141,500$542,683
I-9 Program service revenuePrior year $593,751$542,833
I-10 Investment incomePrior year $0−$53,848
I-11 Other revenuePrior year −$11,856$0
I-12 Total revenuePrior year $723,395$1,031,668
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $497,230$506,910
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $804,234$1,140,379
I-18 Total expensesPrior year $1,301,464$1,647,289
I-19 Revenue less expensesPrior year −$578,069−$615,621
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $1,031,668 across 7 lines filed
VIII-1e Government grants$339,536
VIII-1f All other contributions, gifts and grants$203,147
VIII-1h Total contributions, gifts and grants$542,683
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $542,833$542,833
VIII-3 Investment incomeExcluded from tax $83,554$83,554
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$137,402−$137,402
VIII-12 Total revenueRelated to mission $542,833 · Unrelated business $0 · Excluded from tax −$53,848$1,031,668
Part IX · Statement of functional expenses $1,647,289 across 16 lines filed
IX-7 Other salaries and wagesPrograms $257,606 · Management $156,619$414,225
IX-8 Pension plan contributionsPrograms $6,270$6,270
IX-9 Other employee benefitsPrograms $29,181 · Management $16,032$45,213
IX-10 Payroll taxesPrograms $28,060 · Management $13,142$41,202
IX-11a Management feesPrograms $480,000$480,000
IX-11b Legal feesPrograms $34,696$34,696
IX-11c Accounting feesPrograms $2,050$2,050
IX-11g Other fees for servicesPrograms $24,669 · Management $3,630$28,299
IX-12 Advertising and promotionPrograms $5,036 · Management $385$5,421
IX-13 Office expensesPrograms $12,534 · Management $2,092$14,626
IX-14 Information technologyPrograms $81,039$81,039
IX-17 TravelPrograms $3,637 · Management $1,212$4,849
IX-19 Conferences, conventions and meetingsPrograms $4,296$4,296
IX-20 InterestPrograms $145,270 · Management $3,462$148,732
IX-23 InsurancePrograms $10,895 · Management $8,772$19,667
IX-24 Other expenses (24a–d)Programs $316,704$316,704
IX-25 Total functional expensesPrograms $1,441,943 · Management $205,346 · Fundraising $0$1,647,289
Part X · Balance sheet $10,382,354 assets, 17 lines filed
Asset lines not itemized here account for $6,522,895; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $430,826$584,052
X-2 Savings and temporary cash investmentsStart of year $3,423,985$2,909,799
X-3 Pledges and grants receivableStart of year $0$13,347
X-4 Accounts receivableStart of year $41,273$46,562
X-9 Prepaid expenses and deferred chargesStart of year $38,908$10,421
X-10c Land, buildings and equipment, netStart of year $0$0
X-13 Program-related investmentsStart of year $0$105,296
X-15 Other assetsStart of year $279,175$189,982
X-16 Total assetsStart of year $10,729,568$10,382,354
X-17 Accounts payable and accrued expensesStart of year $137,722$265,379
X-24 Unsecured notes and loans payableStart of year $3,505,063$3,500,000
X-25 Other liabilitiesStart of year $0$10,201
X-26 Total liabilitiesStart of year $5,460,239$5,728,646
X-27 Net assets without donor restrictionsStart of year $4,080,956$3,496,883
X-28 Net assets with donor restrictionsStart of year $1,188,373$1,156,825
X-32 Total net assets or fund balancesStart of year $5,269,329$4,653,708
X-33 Total liabilities and net assetsStart of year $10,729,568$10,382,354
Part XI · Reconciliation of net assets $4,653,708 net assets at year end
XI-1 Total revenue$1,031,668
XI-2 Total expenses$1,647,289
XI-3 Revenue less expenses−$615,621
XI-4 Net assets at start of year$5,269,329
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,653,708

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

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