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Community Development : Housing and Neighborhood Development

Hebrew Free Loan of Metropolitan Detroit

We provide loans. We promise dignity.

88.36

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
David Kramer
President

CEO
David C. Contorer
Executive Director

 
 
  Score
(out of 100)
Rating
Overall Score & Rating 88.36
  Financial 85.11
  Accountability & Transparency 93.00
This rating was published 10/01/2021 and includes data from FY2020, 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.

Financial

85.11

Accountability & Transparency

93.00

This rating was published 10/01/2021 and includes data from FY2020, 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)
73.2%
  Administrative Expenses 12.7%
  Fundraising Expenses 14.0%
  Fundraising Efficiency $0.06
  Working Capital Ratio (years) 14.50
  Program Expenses Growth 1.0%
  Liabilities to Assets 0.6%
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) 88.36
DreamSpring (NM) 92.92
World Business Chicago (IL) 87.18
Commonwealth (MA) 89.39
Association for Enterprise Opportunity (DC) 88.33

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $2,425,055
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $2,425,055
   Program Service Revenue $68,757
Total Primary Revenue $2,493,812
   Other Revenue $101,631
TOTAL REVENUE $2,595,443
   
EXPENSES  
   Program Expenses $638,981
   Administrative Expenses $120,668
   Fundraising Expenses $122,535
TOTAL FUNCTIONAL EXPENSES $882,184
   
Payments to Affiliates $0
Excess (or Deficit) for the year $1,713,259
   
Net Assets $13,423,671

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 $485,252 75.9%
William Davidson Jewish College Loan Program $153,729 24.1%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2020-05 10/01/2021 88.36
2019-05 03/01/2020 89.95
2018-05 07/01/2019 89.19
2018-05 06/01/2019 88.11
2017-05 05/01/2018 92.91
2016-05 08/01/2017 94.35
2015-05 07/01/2016 95.90
2015-05 06/01/2016 93.57
 
CN 2.0
2014-05 12/01/2015 95.98
2014-05 09/01/2015 95.08
2013-05 12/22/2014 92.04
2013-05 09/01/2014 77.37

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
$177,195 20.08% David Contorer Executive Director

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan of Metropolitan Detroit (MI) 88.36
Foundation for Financial Planning (DC) 96.60
Tides Center (CA) 97.12
SaverLife (CA) 96.30
Ventures (WA) 91.37

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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

David Kramer
President

CEO

David C. Contorer
Executive Director

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