Enterprise Community Loan Fund Inc
- Assets
- $480.8m
- Revenue
- $36.1m
- Investments
- $8.2m
- Employees
- 47
- Location
- Columbia, MD
- Founding
- 08/1990
- Data as of
- 12/2023
- EIN
- 52-0192004
Organization Overview
Enterprise Community Loan Fund Inc is located in Columbia, MD. The organization was established in 1990. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Enterprise Community Loan Fund Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise 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 12/2023, Enterprise Community Loan Fund Inc generated $36.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $23.8m during the year ending 12/2023. While expenses have increased by 9.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Enterprise Community Loan Fund Inc has awarded 61 individual grants totaling $7,099,751. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DELIVER INNOVATIVE FINANCIAL PRODUCTS AND TECHNICAL ASSISTANCE TO ORGANIZATIONS TO ACQUIRE, DEVELOP, AND PRESERVE QUALITY AFFORDABLE HOUSING AND TO REVITALIZE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENTERPRISE COMMUNITY LOAN FUND HAS GENERATED CUMULATIVE LOAN VOLUME (INCLUDING COMMITMENTS) OF MORE THAN $2.9 BILLION, SUPPORTING THE DEVELOPMENT OR PRESERVATION OF AFFORDABLE HOUSING AND COMMUNITY AND COMMERCIAL FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Chatman Director | Trustee | 1 | $0 |
William Beckmann SVP & Chief Financial Officer | Officer | 1 | $0 |
Linda Manley General Counsel & Sec. As Of 3/23 | Officer | 1 | $0 |
Elise Balboni President | Officer | 40 | $450,187 |
Charlotte Crow Senior Vice President And Treasurer | Officer | 40 | $308,986 |
Timothy Martin VP & Chief Credit Officer | Officer | 40 | $288,357 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miles & Stockbridge Pc Legal Services | 12/30/22 | $193,421 |
Husch Blackwell Llp Legal Services | 12/30/22 | $189,855 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,547,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,747,724 |
| Total Program Service Revenue | $20,055,842 |
| Investment income | $4,813,873 |
| 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 | $36,120,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,255,130 |
| 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. | $1,454,174 |
| Compensation of current officers, directors, key employees. | $247,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,123,683 |
| Pension plan accruals and contributions | $131,671 |
| Other employee benefits | $266,013 |
| Payroll taxes | $323,720 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $497,011 |
| Fees for services: Accounting | $643,342 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $821,127 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $783,698 |
| Royalties | $0 |
| Occupancy | $396,249 |
| Travel | $72,107 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,897,412 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $142,093 |
| Insurance | $0 |
| All other expenses | $605,568 |
| Total functional expenses | $23,753,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $93,237,235 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,245,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $369,290,780 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $678,989 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,242,389 |
| Investments—program-related | $7,111,710 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $480,806,615 |
| Accounts payable and accrued expenses | $2,098,012 |
| Grants payable | $745,680 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,467,637 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $50,982 |
| Secured mortgages and notes payable | $37,492,686 |
| Unsecured mortgages and notes payable | $296,260,876 |
| Other liabilities | $4,982,907 |
| Total liabilities | $346,098,780 |
| Net assets without donor restrictions | $96,339,206 |
| Net assets with donor restrictions | $38,368,629 |
| 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 | $480,806,615 |
Grants Awarded
Over the last fiscal year, Enterprise Community Loan Fund Inc has awarded $3,255,130 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
A & D QUALITY CONSTRUCTION CO PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $50,000 |
AFRICAN COMMUNITY HOUSING AND DEVELOPMENT PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $50,000 |
AGORSOR EQUITY PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $300,000 |
A-PEACE LLC PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $50,000 |
AFRICATOWN COMMUNITY LAND TRUST PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $200,000 |
CJG LLC PURPOSE: FOR CAPACITY BUILDING FOR PREDEVELOPMENT COSTS FOR BIPOC DEVELOPERS. | $250,000 |