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Community Development : Housing and Neighborhood Development

Hebrew Free Loan Society

Improving Lives Through Lending

four stars

91.16

675 Third Avenue Suite 1905
New York, NY 10017
tel: (212) 687-0188   Web Site
EIN: 13-5562239

Board Leadership
Ian Shrank
President

CEO
David Rosenn
President and CEO

  Score
(out of 100)
Rating
Overall Score & Rating 91.16 four stars
  Financial 88.17 three stars
  Accountability & Transparency 96.00 four stars
This rating was published 12/01/2020 and includes data from FY2019, the most recent 990 received at that time.

The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity among low- and moderate-income New Yorkers in need by providing access to safe and affordable credit in the form of interest-free loans.

HFLS loans make an immediate, concrete difference in the lives of our borrowers, enabling them to invest in their education, start a business, meet emergency expenses, and more.

HFLS makes loans on a nonsectarian basis where the availability of interest-free credit will make a significant difference in an individual's or family's life. Since its founding in 1892, HFLS has provided more than $345M in interest-free loans to more than 875,000 borrowers while maintaining a repayment rate above 99%.

The Hebrew Free Loan Society (HFLS) fosters financial stability and opportunity among low- and moderate-income New Yorkers in need by providing access to safe and affordable credit in the form of interest-free loans.

HFLS loans make an immediate, concrete difference in the lives of our borrowers, enabling them to invest in their education, start a business, meet emergency expenses, and more.

HFLS makes loans on a nonsectarian basis where the availability of interest-free credit will make a significant difference in an individual's or family's life. Since its founding in 1892, HFLS has provided more than $345M in interest-free loans to more than 875,000 borrowers while maintaining a repayment rate above 99%.

Financial

three stars

88.17

Accountability & Transparency

four stars

96.00

This rating was published 12/01/2020 and includes data from FY2019, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
73.9%
  Administrative Expenses 14.4%
  Fundraising Expenses 11.5%
  Fundraising Efficiency $0.10
  Working Capital Ratio (years) 8.80
  Program Expenses Growth 8.9%
  Liabilities to Assets 17.0%
All data for Financial Performance Metrics calculations was provided by Hebrew Free Loan Society on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Hebrew Free Loan Society on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan Society (NY) 91.16 four stars
LiftFund (TX) 85.75 three stars
DreamSpring (NM) 92.92 four stars
Ascendus (NY) 90.23 four stars
The Idea Village (LA) 86.14 three stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $1,175,987
   Federated Campaigns $1,243,745
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $2,419,732
   Program Service Revenue $0
Total Primary Revenue $2,419,732
   Other Revenue $1,051,269
TOTAL REVENUE $3,471,001
   
EXPENSES  
   Program Expenses $1,565,894
   Administrative Expenses $267,669
   Fundraising Expenses $278,094
TOTAL FUNCTIONAL EXPENSES $2,111,657
   
Payments to Affiliates $0
Excess (or Deficit) for the year $1,359,344
   
Net Assets $21,552,249

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Lending Achievements $1,565,894 100.0%

Ratings History
Hebrew Free Loan Society has received 2 consecutive 4-star ratings from Charity Navigator.

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2019-06 12/01/2020 91.16 four stars
2018-06 08/01/2019 90.93 four stars
2017-06 12/01/2018 89.65 three stars
2017-06 09/01/2018 89.43 three stars
2016-06 08/01/2017 87.76 three stars
2015-06 10/01/2016 88.55 three stars
2015-06 09/01/2016 87.53 three stars
2014-06 07/01/2016 79.34 two stars
2014-06 06/01/2016 78.77 two stars
 
CN 2.0
2014-06 10/01/2015 73.64 two stars
2013-06 11/01/2014 77.74 two stars
2012-06 10/01/2013 81.57 three stars
2011-06 05/01/2013 85.54 three stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 13-5562239
Name in IRS Master File HEBREW FREE LOAN SOCIETY INC
NTEE Code P51
NTEE Classification Financial Counseling, Money Management
NTEE Type Human Services - Multipurpose and Other
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (921) Loans or credit reporting
Foundation Status Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes.  509(a)(2)
Deductibility Contributions are deductible
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).
Group Name [Not Applicable]
Ruling Date December, 1926
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End June
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • June, 2018
  • June, 2017
  • June, 2016
  • June, 2015
  • June, 2014
Compensation % of Expenses Paid to Title
$193,286 9.15% David Rosenn Executive Director

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan Society (NY) 91.16 four stars
Ascendus (NY) 90.23 four stars
Foundation for Financial Planning (DC) 96.13 four stars
DreamSpring (NM) 92.92 four stars
Hebrew Free Loan of Metropolitan Detroit (MI) 89.95 three stars

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This charity has an official representative registered with Charity Navigator.

Charity Contact Info

Hebrew Free Loan Society
675 Third Avenue
Suite 1905
New York, NY 10017
tel: (212) 687-0188
fax: (212) 682-1120
EIN: 13-5562239

Visit Web Site

Board Leadership

Ian Shrank
President

CEO

David Rosenn
President and CEO

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