Community Finance Corporation
- Assets
- $797.1m
- Revenue
- $87.6m
- Investments
- $629.1m
- Employees
- 0
- Location
- Tucson, AZ
- Founding
- 10/1992
- Data as of
- 09/2022
- EIN
- 86-0683138
Organization Overview
Community Finance Corporation is located in Tucson, AZ. The organization was established in 1992. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Finance Corporation 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 09/2022, Community Finance Corporation generated $87.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $87.2m during the year ending 09/2022. While expenses have increased by 13.6% per year over the past 3 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, Community Finance Corporation has awarded 29 individual grants totaling $591,034. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Molenda Des Rep | 2 | $0 | |
Michael Hammond President | 2 | $0 | |
Kendall Bert Secretary | 2 | $0 | |
Michael Arnold Treasurer | 2 | $0 | |
Kathleen Perkins Vice-Preside | 2 | $0 | |
Kenneth Abrahams Board Member | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Geo Group Inc | 9/29/23 | $5,763,967 |
Hyatt Corporation | 9/29/23 | $3,710,921 |
Monmouth Independence Network Llc | 9/29/23 | $1,590,893 |
Capstone On-campus Management | 9/29/23 | $434,474 |
Bdfc Advisor Services | 9/29/23 | $357,838 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $899,653 |
| Net Rental Income | $84,809,050 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,184,623 |
| Total Revenue | $87,586,765 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $22,074,714 |
| Taxes | $0 |
| Depreciation | $3,590,278 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,424,175 |
| Total operating and administrative expenses | $87,074,187 |
| Contributions, gifts, grants paid | $149,767 |
| Total expenses and disbursements | $87,223,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,250,855 |
| Savings and temporary cash investments | $63,016,029 |
| Net Accounts receivable | $802,283 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $683,584 |
| Net Investments - land, buildings, equipment | $73,959,854 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $28,356,733 |
| Total assets | $797,137,871 |
| Accounts payable and accrued expenses | $25,895,160 |
| Grants payable | $0 |
| Deferred revenue | $5,818,207 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $799,123,217 |
| Other liabilities | $30,689,286 |
| Total liabilities | $861,525,870 |
Grants Awarded
Over the last fiscal year, Community Finance Corporation has awarded $146,267 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
UA-COLLEGE OF ENGINEERING PURPOSE: SEE ATTACHED SCHEDULE K | $25,000 |
SO AZ RESEARCH SCIENCE AND PURPOSE: SEE ATTACHED SCHEDULE K | $10,000 |
UNIVERSITY OF AZ FOUNDATION PURPOSE: SEE ATTACHED SCHEDULE K | $39,267 |
JEWISH COMMUNITY CENTER OF PURPOSE: SEE ATTACHED SCHEDULE K | $10,000 |
YMCA OF SOUTHERN AZ PURPOSE: SEE ATTACHED SCHEDULE K | $25,000 |
FLOWING WELLS SCHOOL DISTRICT PURPOSE: SEE ATTACHED SCHEDULE K | $20,000 |