Baltimore Community Lending Inc
- Assets
- $37.3m
- Revenue
- $4.9m
- Investments
- $355.1k
- Employees
- 19
- Location
- Baltimore, MD
- Founding
- 09/1989
- Data as of
- 06/2023
- EIN
- 52-1632468
Organization Overview
Baltimore Community Lending Inc is located in Baltimore, MD. The organization was established in 1989. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Baltimore Community Lending Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Community Lending 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 06/2023, Baltimore Community Lending Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $4.0m during the year ending 06/2023. While expenses have increased by 15.4% per year over the past 8 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 2021, Baltimore Community Lending Inc has awarded 30 individual grants totaling $300,000. 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
THE MISSION OF BALTIMORE COMMUNITY LENDING IS TO SUPPORT REVITALIZATION AND STRENGTHENING OF UNDERSERVED BALTIMORE NEIGHBORHOODS THROUGH INNOVATIVE AND FLEXIBLE FINANCIAL ASSISTANCE DESIGNED TO FOSTER COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT LOAN PORTFOLIO MANAGEMENT MAINTAIN, MANAGE AND SERVICE APPROXIMATELY 50 COMMUNITY DEVELOPMENT LOAN ASSETS TOTALING APPROXIMATELY $17 MILLION AND REPRESENTING IN EXCESS OF 400 AFFORDABLE HOUSING UNITS, COUNSEL AND ADVISE EXISTING BORROWERS CONCERNING LOAN COMPLIANCE BEST PRACTICES, AND ASSIST STRUGGLING BORROWERS TO IDENTIFY AVAILABLE REMEDIES IN THE EVENT OF PAYMENT AND/OR PERFORMANCE CHALLENGES.
THE SMALL BUSINESS DEVISION IS A FIVE-YEAR-OLD SMALL BUSINESS LOAN INITIATIVE WHICH PROVIDES FINANCING FOR CREDIT WORTHY BUSINESSES THAT LACK EQUITY OR ARE NOT OTHERWISE ELIGIBLE FOR TRADITIONAL FINANCING. IT MAINTAINS , MANAGES AND SERVICES APPROXIMATELY 132 SMALL BUSINESS LOANS TOTALING APPROXIMATELY $9,045,865 FOR START-UP AND EXPANDING BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Tagg Vice Chair | OfficerTrustee | 0.3 | $0 |
Jeffrey C Wilke Board Chair | OfficerTrustee | 0.3 | $0 |
Antony Gross Treasurer | OfficerTrustee | 0.3 | $0 |
Linda Harrington Secretary | OfficerTrustee | 0.3 | $0 |
Alex Aaron Board Member | Trustee | 0.3 | $0 |
Alice Kennedy Board Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,140 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,182,396 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,390,536 |
| Total Program Service Revenue | $2,392,998 |
| Investment income | $81,849 |
| 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 | $4,865,383 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $546,150 |
| 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 | $1,551,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $218,754 |
| Payroll taxes | $116,579 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $151,270 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,459 |
| Advertising and promotion | $116,073 |
| Office expenses | $46,385 |
| Information technology | $116,359 |
| Royalties | $0 |
| Occupancy | $107,600 |
| Travel | $16,799 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $469,262 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,009 |
| Insurance | $28,163 |
| All other expenses | $35,689 |
| Total functional expenses | $3,975,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,442,660 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,900,637 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $25,667,343 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,982 |
| Net Land, buildings, and equipment | $280,552 |
| Investments—publicly traded securities | $1,608,331 |
| Investments—other securities | $355,060 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,305,565 |
| Accounts payable and accrued expenses | $218,533 |
| Grants payable | $0 |
| Deferred revenue | $717,900 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $150,724 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $19,056,728 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,143,885 |
| Net assets without donor restrictions | $15,094,180 |
| Net assets with donor restrictions | $2,067,500 |
| 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 | $37,305,565 |
Grants Awarded
Over the last fiscal year, Baltimore Community Lending Inc has awarded $300,000 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
BALTIMORE BEAUTY BUBBLE LLC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |
BENEDETTO INC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |
BREAKING BREAD LLC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |
BALTIMORE FITNESS CONCEPTS LLC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |
CULINARY ARCHITECTURE PARTNERS LLC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |
DIASPORA SALON LLC PURPOSE: SUPPORT SMALL BUSINESS | $10,000 |