Contractor Loan Fund Inc
- Assets
- $0.0
- Revenue
- $5.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Louis, MO
- Founding
- 07/2015
- Data as of
- 07/2020
- EIN
- 47-3818078
Organization Overview
Contractor Loan Fund Inc is located in Saint Louis, MO. The organization was established in 2015. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. Contractor 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 07/2020, Contractor Loan Fund Inc generated $5.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (24.0%) each year. All expenses for the organization totaled $74.6k during the year ending 07/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOANS AND TECHNICAL ASSISTANCE FOR CERTIFIED MINORITY/WOMEN BUSINESS ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN PROGRAM: CONTRACTOR LOAN FUND, INC. (CLF) PROVIDES LOANS TO CITY OF ST. LOUIS CERTIFIED MINORITY/WOMEN BUSINESS ENTERPRISES (M/WBES). THE MAXIMUM LOAN COMMITMENT TO ANY BORROWER IS GENERALLY $1 MILLION. AS OF 7/31/2020, CLF HAS DISCONTINUED ITS PROGRAM AND DISSOLVED.
TECHNICAL ASSISTANCE PROGRAM: CLF COORDINATES TECHNICAL ASSISTANCE AND APPLICANT ASSESSMENTS FOR M/WBES. TECHNICAL ASSISTANCE INCLUDES: * LEGAL * ACCOUNTING * SURETY AND BONDING * FINANCIAL EDUCATION * HR * TRAINING * ADVICE FROM OTHER PROFESSIONAL RESOURCES IN 2020, 4 ASSESSMENTS WERE COMPLETED. ASSESSMENTS INVOLVE: * MEETING WITH THE POTENTIAL BORROWER, * LEARNING ABOUT THEIR HISTORY AND AREA OF CONSTRUCTION EXPERTISE, * REVIEWING BASIC FINANCIAL STATEMENTS WITH APPLICANT, * EVALUATING AREAS OF IMPROVEMENT (MENTORING, BIDDING, INSURANCE, FINANCIAL REPORTING, ETC.), AND * ANSWERING QUESTIONS AND PROVIDING ADVICE AS NEEDED.
LOAN PROGRAM: CONTRACTOR LOAN FUND, INC. (CLF) PROVIDES LOANS TO CITY OF ST. LOUIS CERTIFIED MINORITY/WOMEN BUSINESS ENTERPRISES (M/WBES). THE MAXIMUM LOAN COMMITMENT TO ANY BORROWER IS GENERALLY $1 MILLION. AS OF 7/31/2020, CLF HAS DISCONTINUED ITS PROGRAM AND DISSOLVED.
TECHNICAL ASSISTANCE PROGRAM: CLF COORDINATES TECHNICAL ASSISTANCE AND APPLICANT ASSESSMENTS FOR M/WBES. TECHNICAL ASSISTANCE INCLUDES: * LEGAL * ACCOUNTING * SURETY AND BONDING * FINANCIAL EDUCATION * HR * TRAINING * ADVICE FROM OTHER PROFESSIONAL RESOURCES IN 2020, 4 ASSESSMENTS WERE COMPLETED. ASSESSMENTS INVOLVE: * MEETING WITH THE POTENTIAL BORROWER, * LEARNING ABOUT THEIR HISTORY AND AREA OF CONSTRUCTION EXPERTISE, * REVIEWING BASIC FINANCIAL STATEMENTS WITH APPLICANT, * EVALUATING AREAS OF IMPROVEMENT (MENTORING, BIDDING, INSURANCE, FINANCIAL REPORTING, ETC.), AND * ANSWERING QUESTIONS AND PROVIDING ADVICE AS NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher K Reichert Chairman | OfficerTrustee | 3 | $0 |
Otis Williams Vice Chairman | OfficerTrustee | 1 | $0 |
Philip Saettele Treasurer | OfficerTrustee | 1 | $0 |
Dennis Lower Secretary | OfficerTrustee | 1 | $0 |
Suzanne Agin Director | Trustee | 3 | $0 |
Abe Adewale Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,146 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,146 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,630 |
| Fees for services: Accounting | $14,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $390 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,947 |
| All other expenses | $5,257 |
| Total functional expenses | $74,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Individual Investors Chicago, IL | $3,907,493 | $7,934,060 |
Midwestern University Foundation Downers Grove, IL | $61,061,640 | $1,129,249 |
Partners People In Progress Inc Overland Park, KS | $2,687,110 | $3,530,841 |
Greater Kingsport Alliance For Development Inc Kingsport, TN | $2,425,970 | $1,438,393 |
Iowa Independent Bankers Des Moines, IA | $1,000,484 | $761,605 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Tennessee Medical Education Fund Inc Nashville, TN | $3,892,726 | $343,365 |
Henry Strong Educational Foundation Po Box Chicago, IL | $14,214,951 | $483,093 |
Illinois Ventures For Community Action Springfield, IL | $7,084,723 | $38,041 |
Lucy S Elliott Loan Fund Pine Bluff, AR | $3,241,492 | $148,532 |
Kentucky Financial Services Association Inc Frankfort, KY | $45,097 | $0 |
Turnaround Community Lending Rutledge, TN | $126,245 | $0 |