Mission: The Mission of LiftFund is to provide credit and services to small businesses and entrepreneurs who do not have access to loans from commercial sources and to provid ... (More)

LiftFund is a 501(c)(3) organization, with an IRS ruling year of 1994, and donations are tax-deductible.

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Contact Information

  http://www.liftfund.com

 2007 W Martin Street
San Antonio TX 78207 

  888-215-2373


You are viewing this organization's new Charity Navigator profile page. To view the legacy version, click here.

Star Rating System by Charity Navigator


Charity Navigator evaluates a nonprofit organization’s financial health including measures of stability, efficiency and sustainability. We also track accountability and transparency policies to ensure the good governance and integrity of the organization.




Good

This charity's score is 85.75, earning it a 3-Star rating. Donors can "Give with Confidence" to this charity. 

This score is calculated from two sub-scores:

This score represents Form 990 data from 2019, the latest year published by the IRS.

View this organization’s historical ratings.


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Star Rated Report

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Program Expense

Program Expense Ratio

90.0%


The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three 990s).


This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. Dividing a charity's average program expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Administrative Expenses

4.2%


As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. Dividing a charity's average administrative expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Fundraising Expenses

5.6%


This measure reflects what a charity spends to raise money. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. Dividing a charity's average fundraising expenses by its average total functional expenses yields this percentage. We calculate the charity's average expenses over its three most recent fiscal years.


Source: IRS Form 990

Liabilities to Assets Ratio

79.0%


The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990).


Part of our goal in rating the financial performance of charities is to help donors assess the financial capacity and sustainability of a charity. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. This ratio is an indicator of an organization’s solvency and or long term sustainability. Dividing a charity's total liabilities by its total assets yields this percentage.


Source: IRS Form 990

Fundraising Efficiency

$0.13


The amount spent to raise $1 in charitable contributions. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. We calculate the charity's average expenses and average contributions over its three most recent fiscal years.


Source: IRS Form 990

Working Capital Ratio

0.83 years


Determines how long a charity could sustain its level of spending using its net available assets, or working capital, as reported on its most recently filed Form 990. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. Dividing these net available assets in the most recent year by a charity's average total expenses, yields the working capital ratio. We calculate the charity's average total expenses over its three most recent fiscal years.


Source: IRS Form 990

Program Expense Growth

2.36%


We compute the average annual growth of program expenses using the following formula: [(Yn/Y0)(1/n)]-1, where Y0 is a charity's program expenses in the first year of the interval analyzed, Yn is the charity's program expenses in the most recent year, and n is the interval of years passed between Y0 and Yn.


Source: IRS Form 990

Governance


Charity Navigator looks to confirm on the Form 990 that the organization has these governance practices in place.


Sources Include: IRS Form 990

Governance:
Independent Voting Board Members  ... (More)
No Material Diversion of Assets ... (More)

A diversion of assets – any unauthorized conversion or use of the organization's assets other than for the organization's authorized purposes, including but not limited to embezzlement or theft – can seriously call into question a charity's financial integrity. We check the charity's last two Forms 990 to see if the charity has reported any diversion of assets. If the charity does report a diversion, then we check to see if it complied with the Form 990 instructions by describing what happened and its corrective action. This metric will be assigned to one of the following categories:

  • Full Credit: There has been no diversion of assets within the last two years.

  • Partial Credit: There has been a diversion of assets within the last two years and the charity has used Schedule O on the Form 990 to explain: the nature of the diversion, the amount of money or property involved and the corrective action taken to address the matter. In this situation, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: There has been a diversion of assets within the last two years and the charity's explanation on Schedule O is either non-existent or not sufficient. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
(Less)
Audited Financials Prepared by Independent Accountant ... (More)

Audited financial statements provide important information about financial accountability and accuracy. They should be prepared by an independent accountant with oversight from an audit committee. (It is not necessary that the audit committee be a separate committee. Often at smaller charities, it falls within the responsibilities of the finance committee or the executive committee.) The committee provides an important oversight layer between the management of the organization, which is responsible for the financial information reported, and the independent accountant, who reviews the financials and issues an opinion based on its findings. We check the charity's Form 990 reporting to see if it meets this criteria.

  • Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee.

  • Partial Credit: The charity's audited financials were prepared by an independent accountant, but it did not have an audit oversight committee. In this case, we deduct 7 points from the charity's Accountability and Transparency score.
  • No Credit: The charity did not have its audited financials prepared by an independent accountant. In this case, we deduct 15 points from the charity's Accountability and Transparency score.
(Less)
Does Not Provide Loan(s) to or Receive Loan(s) From Related Parties ... (More)
Documents Board Meeting Minutes ... (More)
Distributes 990 to Board Before Filing ... (More)
Compensates Board ... (More)

Policies


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization has these policies in place.


Sources Include: IRS Form 990 and organization's website

Policies:
Conflict of Interest  ... (More)
Whistleblower ... (More)
Records Retention and Destruction ... (More)
CEO Compensation Process ... (More)
Donor Privacy ... (More)

Donors have expressed extreme concern about the use of their personal information by charities and the desire to have this information kept confidential. The exchanging and sale of lists for telemarketing and the mass distribution of "junk mail," among other things, can be minimized if the charity assures the privacy of its donors. Privacy policies are assigned to one of the following categories:

  • Yes: This charity has a written donor privacy policy published on its website, which states unambiguously that (1) it will not share or sell a donor's personal information with anyone else, nor send donor mailings on behalf of other organizations or (2) it will only share or sell personal information once the donor has given the charity specific permission to do so.

  • Opt-out: The charity has a written privacy policy published on its website which enables donors to tell the charity to remove their names and contact information from lists the charity shares or sells. How a donor can have themselves removed from a list differs from one charity to the next, but any and all opt-out policies require donors to take specific action to protect their privacy.
  • No: This charity either does not have a written donor privacy policy in place to protect their contributors' personal information, or the existing policy does not meet our criteria.

The privacy policy must be specific to donor information. A general website policy which references "visitor" or "user" personal information will not suffice. A policy that refers to donor information collected on the website is also not sufficient as the policy must be comprehensive and applicable to both online and offline donors. The existence of a privacy policy of any type does not prohibit the charity itself from contacting the donor for informational, educational, or solicitation purposes.

(Less)

Transparency


Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization makes this information easily accessible.


Sources Include: IRS Form 990 and organization's website

Transparency:
CEO Salary Listed on 990 ... (More)
Board of Directors Listed on Website ... (More)
Key Staff Listed on Website ... (More)
Audited Financial Statements on Website ... (More)
Form 990 Available on Website ... (More)

Additional Information

Unscored

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Total Revenue and Expenses

Total Revenue and Expenses

This chart displays the trend of revenue and expenses over the past several years for this organization, as reported on their IRS Form 990.

Salary of Key Persons

Presented here are this organizations key compensated staff members as identified by our analysts. This compensation data includes salary, cash bonuses and expense accounts and is displayed exactly how it is reported to the IRS. The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on W-2. In some cases, these amounts may include compensation from related organizations. Read the IRS policies for compensation reporting



Janie Barrera, President & CEO

$153,686 (0.87% of Total Expenses)


Source: IRS Form 990 (page 7), filing year 2020

Business Master File Data

Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Learn more about the BMF on the IRS website


Activities:

Described in section 509(a)(2) of the Code (BMF activity code: 995)

Loans or grants for minority businesses (BMF activity code: 405)


Foundation Status:

Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi) (BMF foundation code: 15)


Affiliation:

Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)

Data Sources: IRS Forms 990

The Form 990 is a document that nonprofit organizations file with the IRS annually. We leverage finance and accountability data from it to form Encompass ratings. Click here to view this organization's Forms 990 on the IRS website (if any are available).

Pandemic Response

Due to the unprecedented nature of the pandemic, we give charities such as this one the opportunity to share the story of COVID's impact on them. Charities may submit their own pandemic responses through their nonprofit portal.


LiftFund reported being impacted by COVID-19 in the following ways:
  • Program Delivery

  • Fundraising Capacity

  • Revenue

  • Staffing


How COVID-19 impacted the organization's operations financially:

LiftFund had to pivot delivery of services and application and documentation submissions to be 100% accessible and secure via online platforms due to the pandemic. Even with the decrease in donations and necessary loan payment deferrals, LiftFund was able to shift focus to administering PPP loans, grant programs and loan relief programs for municipalities which helped to balance out losses from reliable sources of pre-pandemic revenue. LiftFund Leadership teams worked quickly to ensure our clients were getting all the capital and technical assistance we could provide to keep their small businesses safe from permanent closures while we worked with investors and partner organizations, cultivated over the last 27 years, to develop programs and products to support clients as well as LiftFund.


How COVID-19 impacted the organization's delivery of programs:

Due to the pandemic, LiftFund had to stop all in person events, one-on-one consultations and workshops. All services were and continue to be provided online via videos, virtual marketplaces, through secure portals, live Facebook events and one-on-one video calls.


How this organization adapted to changing conditions caused by COVID-19:

Since March 2020, LiftFund immediately had all staff begin working from home to meet local mandates and out of concern for the health and safety of staff. All meetings with co-workers and supervisors were conducted via video calls, email and phone calls and services for clients and funders were shifted to the same types of platforms. Some departments still needed to have access to systems only available at our headquarters due to security requirements, so social distancing, masks, temperature checks were required and hand washing/hand sanitizing stations were available throughout the office. Our role in administering grant programs was also a new development for our organization as municipalities turned to LiftFund as a trusted organization capable of understanding the needs and assessing risk of small businesses across our footprint.


Innovations the organization intends to continue permanently after the pandemic:

Some departments will continue to work remotely as this has proved to be a beneficial and productive opportunity for many employees as well as helping to keep the number of staff inside office buildings to a minimum so that large gatherings are not a concern. Services will continue to be offered virtually so that clients are able to access our technical assistance and loan applications from wherever they may be located within our 15-state footprint.


Historical Ratings

Date PublishedForm 990 FYEOverall ScoreOverall Rating
Rating Version: 2.1
2/1/20212019 85.75
2/1/20202018 88.07
10/1/20192018 87.74

This organization received multiple star ratings within this fiscal year, due to an update to it's Accountability and Transparency data and/or the receipt of an amended Form 990.

12/1/20182017 91.10
2/1/20182016 92.38
4/1/20172015 92.38
2/1/20172015 89.48
6/1/20162014 90.58
Rating Version: 2.0
12/1/20152014 91.77
6/1/20152013 92.15
2/1/20142012 94.88
4/1/20132011 94.94
7/1/20122010 99.01

...   Impact & Results


This score estimates the actual impact a nonprofit has on the lives of those it serves, and determines whether it is making good use of donor resources to achieve that impact.


Impact & Results Score

Not Currently Scored

LiftFund cannot currently be evaluated by our Encompass Rating Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.

Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.

Learn more about Impact & Results.


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Additional Information

Unscored

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Largest Programs

Largest Programs



LiftFund reported its two largest programs on its FY 2020 Form 990 as:


$14,681,176

Spent in most recent FY

17%

Percent of program expenses


LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. 1,863 NEW LOANS WERE CLOSED IN THE FISCAL YEAR ENDED 12/31/2020; 1,017 OF WHICH WERE PPP LOANS. W ... (More)


$69,243,230

Spent in most recent FY

82%

Percent of program expenses


DURING THE YEAR ENDED DECEMBER 31, 2020, LIFTFUND WORKED WITH SEVERAL CITIES, COUNTIES AND MUNICIPALITIES TO HELP DISTRIBUTE FEDERAL CARES ACT GRANTS AS A SUBRECIPIENT TO SMALL BUSINESSES THROUGHOUT T ... (More)


...   Leadership & Adaptability


This score provides an assessment of the organization's leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization's mission.


Leadership & Adaptability Score

100

out of 100

The score earned by LiftFund is a passing score.

Encompass Rating V4 provides an evaluation of the organization's Leadership & Adaptability through the nonprofit organization submitting a survey response directly to Charity Navigator.


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Leadership & Adaptability Report

100

of 100 points

Mission

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s mission


LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES.


Source: Nonprofit submitted responses

Vision

The nonprofit organization presents evidence of strategic thinking through articulating the organization’s vision.


Our vision is to transform lives by opening doors, leveling the financial playing field and building a community of shared success through entrepreneurship.


Source: Nonprofit submitted responses

Strategic Goals

The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals.


Goal One: LiftFund continues to listen to clients when creating and designing technical assistance programs and lending products sensitive the current needs of the small business communities we serve.

Goal Type: New program(s) based on observed changes in needs among our constituencies/communities served.


Goal Two: LiftFund developed several new programs that were extremely successful and offered virtually. We will continue to provide and grow these programs across our footprint and scale them as needed.

Goal Type: Grow, expand, scale or increase access to the existing programs and services.


Goal Three: With the proper tools, technology and expertise, LiftFund can reach more small businesses and continue to expand our footprint to additional states in need of our support and accessible capital.

Goal Type: Invest in the capacity of our organization (financial, management, technical, etc.).


Source: Nonprofit submitted responses

Leadership Development

The nonprofit provides evidence of investment in leadership development


Describe an investment in leadership

LiftFund is currently in a process improvement project in which a contractor was brought in to evaluate our current programs. With the contractors assistance and assessment, LiftFund has made changes in leadership, alignment, communication and efficiency tools. This project has allowed leadership and staff to better understand current roles and current needs with a goal of better aligning departments, strategies and developing rising stars within the organization. This has not only boosted morale, but it has created a new energy within the departments who are all working together with a better understanding of the impact of each person on the mission of the organization as a whole.

Source: Nonprofit submitted responses

Mobilizing for Mission

The nonprofit provides evidence of leadership through focusing externally and mobilizing resources for the mission.


This organization mobilizes for mission in the following ways:
  • Strategic Partnerships

  • Networks of Collective Impact Efforts

  • Thought Leadership

  • Raising Awareness

  • Community Building

  • Policy Advocacy

What are this organization’s external mobilizaton efforts?

LiftFund collaborates with many other organizations to provide technical assistance, events and workshops bringing in experts to speak to and educate clients on specific topics or in regards to specific industries. Some of these experts are board members who share their knowledge and skills with our clients. Our leadership team and regional directors have been speakers and panelists in conferences across the states and our President and CEO was appointed to the Advisory Council on Financial Capacity by President Obama. LiftFund leadership and board members work closely with community leaders at local, state, and federal levels ensuring they understand the needs of small businesses as well as the support communities require where they thrive.

Source: Nonprofit submitted responses

Story of Adaptability

The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year.


LiftFund is not new to understanding the needs of small businesses in the wake of a disaster. LiftFund saw the struggles small businesses and the communities they serve when Hurricane Harvey devastated the Gulf Coast region and responded with the immediate assistance needed, low to no interest capital and business support. LiftFund was one of the first CDFI's to pivot at the onset of the pandemic to mitigate the negative impact it was having on small businesses and communities everywhere. The combined experience and efforts of our leadership, investors, donors, banks and municipalities allowed LiftFund to develop products we know small businesses require if they are going to survive an unforeseen crisis that no one was prepared for. As we prepared, planned and discussed new products and programs, LiftFund was also changing our method of delivering of services as people were no longer able to have face to face engagement with clients or utilize shared office space. As the entire organization moved to working from home, LiftFund IT Department had to work overtime to ensure all staff had the necessary equipment and tools to continue accessing work product and communicating with each other. They created new platforms and took additional security measures to prevent any confidentiality breaches and improved our website to be as user friendly as possible during a very complicated time. In the end, LiftFund successfully deployed a total of $98.2 million in grants and loans, provided 6,536 individuals with 7,120 hours of consultations, hosted 433 events, created 4,893 jobs and retained an additional 6,632. LiftFund strives to have the resiliency, dedication, and drive to succeed that we see in our clients despite the challenges and adversity they face everyday.

Source: Nonprofit submitted responses

...   Culture & Community


This score provides an assessment of the organization's engagement with the constituents it serves, a practice we term Constituent Feedback. When organizations listen to constituents, they are able to better deliver on programs and meet the needs of stakeholders. A future version of this Beacon will also assess an organization's people operations and its Diversity, Equity and Inclusion (DEI) metrics.


Culture & Community Score

Not Currently Scored

LiftFund is currently not eligible for a Culture & Community score because we have not received its Constituent Feedback data. Nonprofit organizations are encouraged to fill out the How We Listen section of their Candid profile. This data will provide the basis for the initial evaluation of Culture & Community.

Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization.


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Culture & Community Report

Unscored

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Constituent Feedback

Constituent Feedback


Constituent Feedback and Listening Practice data are not available for this organization. Nonprofit organizations are encouraged to fill out the How We Listen section of their Candid profile. This data will provide the basis for the initial evaluation of Culture & Community.


Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people and communities they serve, may be more effective. We award every nonprofit that completes the Candid survey full credit for this Beacon, in recognition of their willingness to publicly share this information with the nonprofit and philanthropic communities. Although the data is not evaluated for quality at this time, future iterations of this Beacon will include third party or other data that will serve to validate the information provided by the nonprofit.

Analysis and Research


Like the overall Encompass Rating System, the Culture & Community Beacon is designed to evolve as metrics are developed and ready for integration. Our partnership with Feedback Labs and Guidestar by Candid, and other partners including Fund for Shared Insight, GlobalGiving, and Keystone Accountability, enables us to launch the first version of this beacon with Constituent Feedback information collected on Candid's site.


Feedback practices have been shown to support better Diversity, Equity, and Inclusion outcomes, an essential area of assessment that we intend to further expand and develop in the future. Feedback Labs has documented several studies which indicate that beyond achieving organizational goals, nonprofits that are attentive and responsive to concerns and ideas raised by beneficiaries establish stronger relationships with the people they serve, promote greater equity, and empower constituents in ways that can help to ensure better long-term outcomes. You can find resources to help nonprofits improve their feedback practices here.

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