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Community Development : Housing and Neighborhood Development

Hebrew Free Loan of Metropolitan Detroit

We provide loans. We promise dignity.

three stars

89.95

Max M. Fisher Federation Building 6735 Telegraph Road, Suite 300
Bloomfield Hills, MI 48301
tel: (248) 723-8184   Web Site
EIN: 38-1359260

Board Leadership
Carolyn Tisdale
President

CEO
David C. Contorer
Executive Director

  Score
(out of 100)
Rating
Overall Score & Rating 89.95 three stars
  Financial 85.79 three stars
  Accountability & Transparency 100.00 four stars
This rating was published 03/01/2020 and includes data from FY2019, the most recent 990 received at that time.

Founded in 1895, the Hebrew Free Loan of Metropolitan Detroit provides financial help to Jewish people in the state of Michigan through the lending of money without interest. We help people in accordance with the core Jewish values of respect, compassion and confidentiality. Hebrew Free Loan's biblical directive is to lend money without interest to help Jewish people have better lives. Our goal is to match that directive with the needs of the 21st century Metropolitan Detroit (and all of Michigan) Jewish Community. Today, we help first-generation Americans pay for college, couples afford an expensive adoption or fertility process, individuals who have recently been laid off to manage their bills, and the start of new business ventures.

Founded in 1895, the Hebrew Free Loan of Metropolitan Detroit provides financial help to Jewish people in the state of Michigan through the lending of money without interest. We help people in accordance with the core Jewish values of respect, compassion and confidentiality. Hebrew Free Loan's biblical directive is to lend money without interest to help Jewish people have better lives. Our goal is to match that directive with the needs of the 21st century Metropolitan Detroit (and all of Michigan) Jewish Community. Today, we help first-generation Americans pay for college, couples afford an expensive adoption or fertility process, individuals who have recently been laid off to manage their bills, and the start of new business ventures.

Impact Information

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Financial

three stars

85.79

Accountability & Transparency

four stars

100.00

This rating was published 03/01/2020 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)
74.2%
  Administrative Expenses 11.9%
  Fundraising Expenses 13.8%
  Fundraising Efficiency $0.08
  Working Capital Ratio (years) 12.77
  Program Expenses Growth 1.4%
  Liabilities to Assets 2.4%
All data for Financial Performance Metrics calculations was provided by Hebrew Free Loan of Metropolitan Detroit on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Hebrew Free Loan of Metropolitan Detroit on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan of Metropolitan Detroit (MI) 89.95 three stars
Association for Enterprise Opportunity (DC) 91.70 four stars
Opportunity Fund Community Development (CA) 90.13 four stars
Ventures (WA) 91.58 four stars
Accion East (NY) 90.23 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $1,956,099
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $1,956,099
   Program Service Revenue $22,920
Total Primary Revenue $1,979,019
   Other Revenue $95,630
TOTAL REVENUE $2,074,649
   
EXPENSES  
   Program Expenses $623,115
   Administrative Expenses $106,340
   Fundraising Expenses $121,451
TOTAL FUNCTIONAL EXPENSES $850,906
   
Payments to Affiliates $0
Excess (or Deficit) for the year $1,223,743
   
Net Assets $11,732,657

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
Distribution of Interest-free Loans $460,467 73.9%
William Davidson Jewish College Loan Program $162,648 26.1%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2019-05 03/01/2020 89.95 three stars
2018-05 07/01/2019 89.19 three stars
2018-05 06/01/2019 88.11 three stars
2017-05 05/01/2018 92.91 four stars
2016-05 08/01/2017 94.35 four stars
2015-05 07/01/2016 95.90 four stars
2015-05 06/01/2016 93.57 four stars
 
CN 2.0
2014-05 12/01/2015 95.98 four stars
2014-05 09/01/2015 95.08 four stars
2013-05 12/22/2014 92.04 four stars
2013-05 09/01/2014 77.37 two 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 38-1359260
Name in IRS Master File HEBREW FREE LOAN ASSOCIATION
NTEE Code T90
NTEE Classification Named Trusts/Foundations N.E.C.
NTEE Type Philanthropy, Voluntarism and Grantmaking Foundations
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (602) Gifts, grants, or loans to other organizations
Foundation Status Organization which receives a substantial part of its support from a governmental unit or the general public   170(b)(1)(A)(vi)
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 August, 1984
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End May
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • May, 2019
  • May, 2018
  • May, 2017
  • May, 2016
  • May, 2015
Compensation % of Expenses Paid to Title
$167,002 19.62% David Contorer Executive Director

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan of Metropolitan Detroit (MI) 89.95 three stars
Association for Enterprise Opportunity (DC) 91.70 four stars
Hope Enterprise Corporation (MS) 87.76 three stars
ACCION San Diego (CA) 94.74 four stars
Tides Center (CA) 93.15 four stars

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This charity has an official representative registered with Charity Navigator.

Charity Contact Info

Hebrew Free Loan of Metropolitan Detroit
Max M. Fisher Federation Building
6735 Telegraph Road, Suite 300
Bloomfield Hills, MI 48301
tel: (248) 723-8184
fax: (248) 723-4809
EIN: 38-1359260

Visit Web Site

Board Leadership

Carolyn Tisdale
President

CEO

David C. Contorer
Executive Director

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