Renaissance Community Loan Fund Inc
- Assets
- $50.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 38
- Location
- Gulfport, MS
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 20-8181931
Organization Overview
Renaissance Community Loan Fund Inc is located in Gulfport, MS. The organization was established in 2007. According to its NTEE Classification (M20) the organization is classified as: Disaster Preparedness & Relief Services, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. As of 12/2021, Renaissance Community Loan Fund Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renaissance Community Loan Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Renaissance Community Loan Fund Inc generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $4.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT THROUGH TECHNICAL AND FINANCIAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF COMMUNITIES WHICH PROVIDE SAFE, QUALITY HOUSING FOR THE WORKFORCE AND SPECIAL NEED RESIDENTS OF THE MISSISSIPPI GULF COAST AND ECONOMIC OPPORTUNITIES THAT WILL ADD/RETAIN JOBS IN THE COMMUNITY OR THAT CREATE ENTREPRENEURIAL OPPORTUNITIES.
Describe the Organization's Program Activity:
THE LENDING PROGRAM WERE ESTABLISHED AS A PERPETUAL FUND THAT CAN, IN TURN, CREATE A SELF-SUSTAINING FUND TO ASSIST THOUSANDS OF RESIDENTS AND POTENTIAL RESIDENTS FOR YERAS TO COME. THIS IS ACCOMPLISHED THROUGH ITS CURRENT LENDING PROGRAMS INCLUDING: MYHOME MYCOAST; THE DREAM FUND; NEW MARKET TAX CREDITS; MS GULF COAST DEVELOPMENT FUND AND SMALL BUSINESS AND COMMERCIAL LENDING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Larosa President/ceo | Officer | 40 | $221,240 |
Charles Wall Chief Fianacial Officer | 40 | $158,000 | |
Camille T Schafer Director Of Programs | 40 | $128,500 | |
Denise Carver Director Of Marketing & Ad | 40 | $117,500 | |
David Nichols Vice Chairman | OfficerTrustee | 0 | $0 |
Laura Hasty Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,885,186 |
| All other contributions, gifts, grants, and similar amounts not included above | $112,874 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,998,060 |
| Total Program Service Revenue | $1,230,791 |
| Investment income | $1,721,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,583 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,045,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $85,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $212,970 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,441,553 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $386,455 |
| Payroll taxes | $134,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,534 |
| Fees for services: Accounting | $51,670 |
| Fees for services: Lobbying | $90,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $167,137 |
| Advertising and promotion | $213,324 |
| Office expenses | $31,148 |
| Information technology | $127,918 |
| Royalties | $0 |
| Occupancy | $69,494 |
| Travel | $19,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $686,078 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $90,223 |
| Insurance | $67,569 |
| All other expenses | $211,607 |
| Total functional expenses | $4,499,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,861,788 |
| Savings and temporary cash investments | $831,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $861,855 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $32,320,388 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,471 |
| Net Land, buildings, and equipment | $1,501,807 |
| Investments—publicly traded securities | $138,200 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$194,569 |
| Total assets | $50,426,367 |
| Accounts payable and accrued expenses | $298,633 |
| Grants payable | $171,518 |
| Deferred revenue | $5,947 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $263,677 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,669,042 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $811,018 |
| Total liabilities | $23,219,835 |
| Net assets without donor restrictions | $27,164,532 |
| Net assets with donor restrictions | $42,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $50,426,367 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Renaissance Community Loan Fund Inc has recieved totaling $33.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $33 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Emergency Assistance Inc Knoxville, TN | $2,395,715 | $11,417,198 |
Blue Cross And Blue Shield Of Louisiana Foundation Baton Rouge, LA | $38,803,366 | $3,754,107 |
Renaissance Community Loan Fund Inc Gulfport, MS | $50,426,367 | $5,045,088 |
Center For Planning Excellence Inc Baton Rouge, LA | $2,415,217 | $2,315,226 |
People For Care & Learning Mobile, AL | $1,421,094 | $1,215,551 |
Resilience Force New Orleans, LA | $1,824,285 | $3,073,009 |
Pro Bono Publico Foundation New Orleans, LA | $1,527,473 | $1,031,485 |
Plaquemines Community Care Centers Foundation Inc Belle Chasse, LA | $2,311,370 | $1,731,161 |
C Spire Wireless Foundation Ridgeland, MS | $417,223 | $2,500 |
Prodisee Pantry Inc Daphne, AL | $3,736,781 | $1,491,602 |
Central United States Earthquake Consortium Memphis, TN | $81,679 | $823,102 |
R3sm Inc Hattiesburg, MS | $1,052,769 | $566,847 |