Civic Intelligence

Community First Fund

990 • Fiscal year 2020 • EIN 23-2689714

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 25, 2021

Organization ProfileWWW.COMMUNITYFIRSTFUND.ORG

View Organization Page

PO Box 524Lancaster, PA 17608-0524

(717) 393-2351

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.77x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

93rd percentile

4.98x

Higher debt load relative to revenue than 93% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

45th percentile

$315,423

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

81st percentile

23%

Faster asset growth than 81% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

44%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$80,851,659

Up $15,161,635 (+23%) from 2019

Net Assets

Up

$18,276,152

Up $2,332,338 (+15%) from 2019

Liabilities

Up

$62,575,507

Up $12,829,297 (+26%) from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin72nd percentile

Revenue

Up

$12,560,846

Up $3,847,736 (+44%) from 2019

Expenses

Up

$10,773,357

Up $4,359,970 (+68%) from 2019

Net Income

Down

$1,787,489

Down $512,234 (-22%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $18,107,115Liabilities 2011: $14,698,954Net Assets 2011: $3,408,1612011Assets 2012: $21,385,276Liabilities 2012: $18,186,828Net Assets 2012: $3,198,4482012Assets 2013: $23,826,849Liabilities 2013: $20,574,616Net Assets 2013: $3,252,2332013Assets 2014: $27,634,380Liabilities 2014: $24,518,174Net Assets 2014: $3,116,2062014Assets 2015: $30,607,212Liabilities 2015: $26,428,773Net Assets 2015: $4,178,4392015Assets 2016: $37,093,825Liabilities 2016: $31,609,483Net Assets 2016: $5,484,3422016Assets 2017: $40,421,134Liabilities 2017: $34,391,671Net Assets 2017: $6,029,4632017Assets 2018: $59,541,742Liabilities 2018: $46,186,830Net Assets 2018: $13,354,9122018Assets 2019: $65,690,024Liabilities 2019: $49,746,210Net Assets 2019: $15,943,8142019Assets 2020: $80,851,659Liabilities 2020: $62,575,507Net Assets 2020: $18,276,1522020Assets 2021: $129,035,730Liabilities 2021: $80,678,124Net Assets 2021: $48,357,6062021Assets 2022: $141,866,844Liabilities 2022: $84,012,640Net Assets 2022: $57,854,2042022Assets 2023: $124,298,152Liabilities 2023: $83,493,413Net Assets 2023: $40,804,7392023Assets 2024: $146,347,142Liabilities 2024: $91,022,592Net Assets 2024: $55,324,5502024

Highlighted filing

2020

Assets$80,851,659
Liabilities$62,575,507
Net Assets$18,276,152
Open 2020 Filing

Operations Trend

Revenue Growth89th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0Expenses 2011: $2,947,7642011Expenses 2012: $2,650,1862012Expenses 2013: $2,680,1802013Revenue 2014: $4,008,443Expenses 2014: $3,605,757Net Income 2014: $402,6862014Revenue 2015: $5,104,837Expenses 2015: $3,530,177Net Income 2015: $1,574,6602015Revenue 2016: $6,101,679Expenses 2016: $4,101,621Net Income 2016: $2,000,0582016Revenue 2017: $5,924,468Expenses 2017: $4,731,114Net Income 2017: $1,193,3542017Revenue 2018: $6,796,379Expenses 2018: $6,639,496Net Income 2018: $156,8832018Revenue 2019: $8,713,110Expenses 2019: $6,413,387Net Income 2019: $2,299,7232019Revenue 2020: $12,560,846Expenses 2020: $10,773,357Net Income 2020: $1,787,4892020Revenue 2021: $44,963,943Expenses 2021: $34,774,915Net Income 2021: $10,189,0282021Revenue 2022: $17,453,841Expenses 2022: $8,134,382Net Income 2022: $9,319,4592022Revenue 2023: $17,328,667Expenses 2023: $13,047,440Net Income 2023: $4,281,2272023Revenue 2024: $22,595,432Expenses 2024: $14,738,819Net Income 2024: $7,856,6132024

Highlighted filing

2020

Revenue$12,560,846
Expenses$10,773,357
Net Income$1,787,489
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 25, 2021
Return Version
2019v5.0
Gross Receipts
$12,560,846
Mission and Program Overview

Mission

To promote community and work-based economic development. The organization provides loans for community projects and technical assistance to housing & economic development projects that have a direct and measurable benefit to low income persons and contribute to social progress and economic development in the south central pennsylvania region.

To provide loans and technical assistance to housing & economic development projects that have a direct and measurable benefit for low income persons and contribute to social progress and economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$52,535,668$55,206,164▲ $2,670,496
Cash and Non-Interest-Bearing Accounts$1,974,571$13,560,326▲ $11,585,755
Savings and Temporary Cash Investments$6,536,766$6,273,857▼ $262,909
Land, Buildings, and Equipment, Net$2,013,409$4,226,427▲ $2,213,018
Loans From Officers Directors$3,450,000$3,450,000→ $0
Pledges and Grants Receivable$1,066,982$1,200,625▲ $133,643
Investments in Publicly Traded Securities$1,046,693--
Prepaid Expenses and Deferred Charges$53,798$61,844▲ $8,046
Accounts Receivable$42,500$11,772▼ $30,728
Total Assets$65,690,024$80,851,659▲ $15,161,635
Other Assets Total$419,637$310,644▼ $108,993
Liabilities
Mortgage Notes Payable Secured by Investment Property$29,719,068$35,735,295▲ $6,016,227
Other Liabilities$12,895,500$17,645,500▲ $4,750,000
Deferred Revenue$2,826,089$4,692,650▲ $1,866,561
Accounts Payable and Accrued Expenses$855,553$1,052,062▲ $196,509
Total Liabilities$49,746,210$62,575,507▲ $12,829,297
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,660,668$17,993,006▲ $2,332,338
Net Assets With Donor Restrictions$283,146$283,146→ $0
Total Net Assets Fund Balance$15,943,814$18,276,152▲ $2,332,338
Total Liabilities and Net Assets / Fund Balance$65,690,024$80,851,659▲ $15,161,635

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,434,496$122,039$3,556,535
Leasehold Improvements$565,555$86,356$651,911
Equipment$226,376$145,986$372,362
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel BetancourtPresident &FT$242,784$72,639$315,423
Daniel BetancourtPresident & CEO-$242,784$72,639$315,423
James BuergerSenior VPFT$152,000$36,375$188,375
Joan BrodheadExec VP & CoFT$149,447$30,288$179,735
Joan BrodheadExec VP & COO-$149,447$30,288$179,735
Daniel BeckVP Sr Comm LFT$104,196$16,269$120,465
Ken HammakerVP Comm LendFT$93,186$24,715$117,901
Michael CarperChief CreditFT$96,767-$96,767
Lloyd ShieldsCFOFT$84,081-$84,081

Board Members and Trustees

NameTitle
David a SchankweilerChairman
Carlos LopezVice Chair
Charlie SantiagoBoard Member
Dana HanchinBoard Member
Gerald W MeckBoard Member
Gregory J EdwardBoard Member
Jonathan EncarnacionBoard Member
Natalia Dominguez BuckleyBoard Member
R Eric MenzerBoard Member
Samuel T Cooper IiiBoard Member
Marilyn HedgeSecretary
Anthony PappionSr VP, CFO
Jonathan BowserTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,594,836
Program Service Revenue
$4,966,010
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,155,425
Change in Net Assets
$1,787,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,435,964
Salaries, Compensation, and Employee Benefits$3,734,804
Grants and Similar Amounts Paid$602,589
Total Fundraising Expense$435,091
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,559,223$162,152$255,376$2,976,751
Interest$1,291,811$39,064-$1,330,875
Grants to Domestic Orgs$602,589--$602,589
Other Employee Benefits$497,182$31,501$49,612$578,295
Fees for Services Other$261,354$206,937-$468,291
Occupancy$182,955$11,591$18,256$212,802
Office Expenses$166,845$11,349$17,805$195,999
Payroll Taxes$154,545$9,792$15,421$179,758
Travel$112,920$7,155$11,268$131,343
Depreciation Depletion$111,303$7,052$11,107$129,462
Advertising$60,271$24,108$36,162$120,541
Insurance$35,719$2,263$3,564$41,546
Fees for Services Accounting$22,017$17,433-$39,450
Fees for Services Legal$15,468$12,248-$27,716
Conferences and Meetings$9,419$3,768$5,652$18,839
Other Expenses$8,434$534$841$9,809
Total Functional Expenses$9,784,952$553,314$435,091$10,773,357
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Impact HarrisburgHarrisburg, PA501c3General Operations$350,000
Assets LancasterLancaster, PA501c3Lanc Recovery Fd$250,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$3,450,000$3,450,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Equity Equivalent Investments$17,645,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the audit committee of the board of directors prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The policy is monitored and enforced through the annual conflict of interest disclosure process.”

Form 990, Page 6, Part VI, Line 15A

“Ceo compensation is reviewed during the budget process and approved by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Compensation for officers and key employees is reviewed during the budget process and approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, financial statements and form 990 available to the public upon request at the organization's headquarters.”

Filing and Contact Details

Filer

Filer Name
Community First Fund
EIN
23-2689714
Phone
7173932351
Address
PO BOX 524, LANCASTER, PA 17608-0524

Signing Officer

Name
Anthony Pappion
Title
Sr VP, CFO
Phone
7173932351
Signed
2021-03-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Betancourt
Formed
1992
Legal Domicile
Pa
Voting Board Members
13
Independent Board Members
12
Employees
43
Volunteers
19

Preparer

Firm
Bertz Hess & Co Llp
Address
36 EAST KING ST, LANCASTER, PA 17602
Preparer
Thomas a Wobber CPA
Phone
7173930767
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To promote community and work-based economic development. The organization provides loans for community projects and technical assistance to housing & economic development projects that have a direct and measurable benefit to low income persons and contribute to social progress and economic development in the south central pennsylvania region.”

Form 990, Page 2, Part III, Line 4A

“During the year, community first fund closed 128 new business development loans. The organization financed 140 housing units for low and moderate income individuals. Through the organizations financing efforts, 3,915 jobs were created or retained, and 358,086 square feet of business real estate was developed or rehabbed. In march 2020 in response to the covid- 19 pandemic, the organization shifted its focus to participation in and promotion of various grant and loan programs to businesses located in low- income communities and owned by people of color. By june 30, 2020, the organization had directly provided emergency financial relief in the form of low-interest loans to 24 businesses and had managed the program to fund 461 sba paycheck protection program loans totaling 15,784,735 through its subsidiary community first capital corp.”

Form 990, Part XI, Line 9

“Transfer from subsidiary 544,849”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization has evaluated the tax filings for the open tax years for uncertain tax positions. The tax years subject to examination by the internal revenue service are 2016, 2017, 2018, and 2019. The tax years subject to examination by the state jurisdiction are unlimited.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt2EXEC VP & CO
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IRS990/Form990PartVIISectionAGrp/TitleTxt4VP COMM LEND
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$80,851,659
Liabilities
$62,575,507
Net assets
$18,276,152
Revenue
$12,560,846
Expenses
$10,773,357
Net income
$1,787,489
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$146$91.0$55.3$22.6$14.7$7.86
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$124$83.5$40.8$17.3$13.0$4.28
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$142$84.0$57.9$17.5$8.13$9.32
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$129$80.7$48.4$45.0$34.8$10.2
2020Detailed filing. Detailed filing data is available for this year.$80.9$62.6$18.3$12.6$10.8$1.79
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.7$49.7$15.9$8.71$6.41$2.30
2018Summary only. Only limited summary data is available for this year.$59.5$46.2$13.4$6.80$6.64$0.16
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.4$34.4$6.03$5.92$4.73$1.19
2016Detailed filing. Detailed filing data is available for this year.$37.1$31.6$5.48$6.10$4.10$2.00
2015Detailed filing. Detailed filing data is available for this year.$30.6$26.4$4.18$5.10$3.53$1.57
2014Detailed filing. Detailed filing data is available for this year.$27.6$24.5$3.12$4.01$3.61$0.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.8$20.6$3.25$2.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$18.2$3.20$2.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.1$14.7$3.41$2.95