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Finanta Community Development Corporation

Tax-deductible

Lancaster, PA501(c)(3)HousingEIN 46-3140210Revenue $1.5M in FY2024

On file with the IRSfinanta.org51 South Duke Street, 17602-3573 · Lancaster, PATax-exempt since May 2014Publicly supported charity — 170(b)(1)(A)(vi)

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A lending institution facilitating access to capital and consultation services.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
69 mo
of spending, in cash
Looks good: 69.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$13.7M
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
Spent
$1.8M
To programs
82%
Net assets
$12.5M

From the FY2024 Form 990 (year ending June 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2014.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.4M Management & general 13% · $221K Fundraising 6% · $100K

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

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Dan Betancourt
President &
$0Pt VII · Sec A
Joan Broadhead
Chief Strate
$0Pt VII · Sec A
$0Pt VII · Sec A
Lloyd Shields
Interim CFO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lenin Agudo
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Finanta Community Development 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 loans and business advice to help people access capital.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2023
01

Technical assistance and loan products for entrepreneurs, start-up and small businesses, first-time consumer and homebuyer borrowers, and local affordable real estate developers. Such products are supported with credit building and financial coaching, business training, and incubating space.

$1.4Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Investment incomeLn 3$696K
Fees for servicesLn 2g$651K
Gifts and grantsLn 1h$117K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.4M
Managementcol C$221K
Fundraisingcol D$100K
Owns and owesPt X
$12.5M
net assets · Ln 32
Cash and savingsLn 1–2$10.2M
Total assetsLn 16$26.2M
LiabilitiesLn 26$13.7M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$117K
Government grantsLn 1e$57K
Fees for servicesLn 2g$651K
Investment incomeLn 3$696K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
SavingsLn 2$10.2M
Cash and savings togetherLn 1–2$10.2M
InvestmentsLn 11–13$881K
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$26.2M
LiabilitiesLn 26$13.7M
Net assetsLn 32$12.5M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
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$15.4M$10.2M
InvestmentsLn 11–13$839K$881K
Land, buildings, equipmentLn 10c$1.6M$1.6M
Total assetsLn 16$33.8M$26.2M
LiabilitiesLn 26$12.2M$13.7M
Net assetsLn 32$21.6M$12.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$783K$641K$87K$55K
Other employee benefitsLn 9$152K$124K$8K$20K
Payroll taxesLn 10$60K$49K$7K$3K
Legal feesLn 11b$296$296
Other fees for servicesLn 11g$121K$99K$22K
Advertising and promotionLn 12$3K$2K$375$170
Office expensesLn 13$12K$8K$2K$2K
OccupancyLn 16$185K$152K$23K$10K
TravelLn 17$31K$25K$4K$2K
Conferences, conventions and meetingsLn 19$2K$2K$245$111
InterestLn 20$63K$63K
Depreciation, depletion and amortizationLn 22$32K$21K$4K$7K
InsuranceLn 23$1K$829$126$57
Other expenses (24a–d)Ln 24$379K$378K$411$186
All other expensesLn 24e−$58K−$58K
Total functional expensesLn 25$1.8M$1.4M$221K$100K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.5M$1.8M−$300K$12.5M 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 (6 parts)
Part I · Summary $1,464,918 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,479,189$117,372
I-9 Program service revenuePrior year $697,468$651,165
I-10 Investment incomePrior year $88,709$696,381
I-11 Other revenue$0
I-12 Total revenuePrior year $2,265,366$1,464,918
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,301,320$994,657
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $368,765$770,560
I-18 Total expensesPrior year $1,670,085$1,765,217
I-19 Revenue less expensesPrior year $595,281−$300,299
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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
Part VIII · Statement of revenue $1,464,918 across 6 lines filed
VIII-1e Government grants$56,622
VIII-1f All other contributions, gifts and grants$60,750
VIII-1h Total contributions, gifts and grants$117,372
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $651,165$651,165
VIII-3 Investment incomeRelated to mission $696,381$696,381
VIII-12 Total revenueRelated to mission $1,347,546$1,464,918
Part IX · Statement of functional expenses $1,765,217 across 15 lines filed
IX-7 Other salaries and wagesPrograms $641,178 · Management $86,937 · Fundraising $55,330$783,445
IX-9 Other employee benefitsPrograms $124,016 · Management $7,892 · Fundraising $19,625$151,533
IX-10 Payroll taxesPrograms $48,842 · Management $7,465 · Fundraising $3,372$59,679
IX-11b Legal feesPrograms $296$296
IX-11g Other fees for servicesPrograms $98,575 · Management $21,938$120,513
IX-12 Advertising and promotionPrograms $2,455 · Management $375 · Fundraising $170$3,000
IX-13 Office expensesPrograms $8,497 · Management $1,501 · Fundraising $1,997$11,995
IX-16 OccupancyPrograms $151,549 · Management $23,163 · Fundraising $10,463$185,175
IX-17 TravelPrograms $25,292 · Management $3,866 · Fundraising $1,746$30,904
IX-19 Conferences, conventions and meetingsPrograms $1,605 · Management $245 · Fundraising $111$1,961
IX-20 InterestManagement $62,939$62,939
IX-22 Depreciation, depletion and amortizationPrograms $20,948 · Management $3,951 · Fundraising $6,683$31,582
IX-23 InsurancePrograms $829 · Management $126 · Fundraising $57$1,012
IX-24 Other expenses (24a–d)Programs $378,419 · Management $411 · Fundraising $186$379,016
IX-24e All other expensesPrograms −$57,833−$57,833
IX-25 Total functional expensesPrograms $1,444,668 · Management $220,809 · Fundraising $99,740$1,765,217
Part X · Balance sheet $26,157,089 assets, 14 lines filed
Asset lines not itemized here account for $13,457,669; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $15,440,639$10,184,140
X-4 Accounts receivableStart of year $411,679$6,446
X-9 Prepaid expenses and deferred charges$10,281
X-10c Land, buildings and equipment, netStart of year $1,648,291$1,617,059
X-11 Publicly traded securitiesStart of year $838,706$881,494
X-16 Total assetsStart of year $33,843,899$26,157,089
X-17 Accounts payable and accrued expensesStart of year $54,297$125,986
X-19 Deferred revenueStart of year $310,117$21,020
X-25 Other liabilitiesStart of year $8,162,669$10,188,184
X-26 Total liabilitiesStart of year $12,230,878$13,674,484
X-27 Net assets without donor restrictionsStart of year $16,870,465$9,112,105
X-28 Net assets with donor restrictionsStart of year $4,742,556$3,370,500
X-32 Total net assets or fund balancesStart of year $21,613,021$12,482,605
X-33 Total liabilities and net assetsStart of year $33,843,899$26,157,089
Part XI · Reconciliation of net assets $12,482,605 net assets at year end
XI-1 Total revenue$1,464,918
XI-2 Total expenses$1,765,217
XI-3 Revenue less expenses−$300,299
XI-4 Net assets at start of year$21,613,021
XI-8 Prior period adjustments−$2
XI-9 Other changes in net assets−$8,830,115
XI-10 Net assets at end of year$12,482,605

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

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