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.
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

Charts

Compensation % of Expenses Paid to Title
$177,195 20.08% David Contorer Executive Director

Mission

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.

Highly Rated

Charity Name & State Overall Score Overall Rating
Hebrew Free Loan of Metropolitan Detroit (MI) 88.36
Hope Enterprise Corporation (MS) 85.98
Association for Enterprise Opportunity (DC) 88.33
Tides Center (CA) 97.12
LiftFund (TX) 85.75

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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