Civic Intelligence

Hebrew Gemilath Chasodim Association

990 • Fiscal year 2021 • EIN 34-0281800

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 13, 2022

Organization ProfileWWW.INTERESTFREE.ORG

View Organization Page

23300 Chagrin Blvd Suite 204Beachwood, OH 44122

(216) 378-9042

Siviq Scores

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

Liabilities / Assets

26th percentile

0.01x

Higher debt load relative to assets than 26% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

30th percentile

0.02x

Higher debt load relative to revenue than 30% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

82nd percentile

41%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

60th percentile

$80,000

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 9.1% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

61st percentile

15%

Faster asset growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-30%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$3,298,994

Up $436,058 (+15%) from 2020

Net Assets

Up

$3,281,466

Up $480,068 (+17%) from 2020

Liabilities

Down

$17,528

Down $44,010 (-72%) from 2020

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin82nd percentile

Revenue

Down

$879,917

Down $384,548 (-30%) from 2020

Expenses

Down

$518,072

Down $62,872 (-11%) from 2020

Net Income

Down

$361,845

Down $321,676 (-47%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $669,495Liabilities 2010: $14,743Net Assets 2010: $654,7522010Assets 2011: $697,309Liabilities 2011: $14,431Net Assets 2011: $682,8782011Assets 2012: $708,862Liabilities 2012: $12,184Net Assets 2012: $696,6782012Assets 2013: $766,107Liabilities 2013: $13,788Net Assets 2013: $752,3192013Assets 2014: $776,414Liabilities 2014: $11,612Net Assets 2014: $764,8022014Assets 2015: $996,563Liabilities 2015: $14,497Net Assets 2015: $982,0662015Assets 2016: $1,080,531Liabilities 2016: $14,427Net Assets 2016: $1,066,1042016Assets 2017: $1,357,400Liabilities 2017: $19,327Net Assets 2017: $1,338,0732017Assets 2018: $1,633,513Liabilities 2018: $20,771Net Assets 2018: $1,612,7422018Assets 2020: $2,862,936Liabilities 2020: $61,538Net Assets 2020: $2,801,3982020Assets 2021: $3,298,994Liabilities 2021: $17,528Net Assets 2021: $3,281,4662021Assets 2022: $3,038,060Liabilities 2022: $2,661Net Assets 2022: $3,035,3992022Assets 2023: $3,218,630Liabilities 2023: $6,431Net Assets 2023: $3,212,1992023Assets 2024: $3,152,920Liabilities 2024: $7,220Net Assets 2024: $3,145,7002024

Highlighted filing

2021

Assets$3,298,994
Liabilities$17,528
Net Assets$3,281,466
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $79,1282010Expenses 2011: $73,6052011Expenses 2012: $73,1272012Revenue 2013: $104,844Expenses 2013: $89,936Net Income 2013: $14,9082013Revenue 2014: $117,643Expenses 2014: $113,195Net Income 2014: $4,4482014Revenue 2015: $363,050Expenses 2015: $137,205Net Income 2015: $225,8452015Revenue 2016: $281,561Expenses 2016: $212,277Net Income 2016: $69,2842016Revenue 2017: $477,632Expenses 2017: $260,711Net Income 2017: $216,9212017Revenue 2018: $725,107Expenses 2018: $396,850Net Income 2018: $328,2572018Revenue 2020: $1,264,465Expenses 2020: $580,944Net Income 2020: $683,5212020Revenue 2021: $879,917Expenses 2021: $518,072Net Income 2021: $361,8452021Revenue 2022: $453,429Expenses 2022: $556,697Net Income 2022: -$103,2682022Revenue 2023: $622,210Expenses 2023: $553,186Net Income 2023: $69,0242023Revenue 2024: $536,642Expenses 2024: $766,986Net Income 2024: -$230,3442024

Highlighted filing

2021

Revenue$879,917
Expenses$518,072
Net Income$361,845
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 13, 2022
Return Version
2021v4.0
Gross Receipts
$919,573
Mission and Program Overview

Mission

To provide interest-free loans to address the financial challenges of residents of northeast ohio who lack access to traditional lending sources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,062,868$1,387,900▲ $325,032
Cash and Non-Interest-Bearing Accounts$611,803$1,005,611▲ $393,808
Other Notes and Loans Receivable, Net$910,294$794,199▼ $116,095
Pledges and Grants Receivable$276,260$110,000▼ $166,260
Land, Buildings, and Equipment, Net$1,711$1,284▼ $427
Total Assets$2,862,936$3,298,994▲ $436,058
Liabilities
Unsecured Notes Loans Payable$43,400--
Deferred Revenue$11,105$11,105→ $0
Accounts Payable and Accrued Expenses$1,111$6,122▲ $5,011
Escrow Account Liability$5,615--
Other Liabilities$307$301▼ $6
Total Liabilities$61,538$17,528▼ $44,010
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,105,311$2,578,941▲ $473,630
Net Assets With Donor Restrictions$696,087$702,525▲ $6,438
Total Net Assets Fund Balance$2,801,398$3,281,466▲ $480,068
Total Liabilities and Net Assets / Fund Balance$2,862,936$3,298,994▲ $436,058

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,284$17,202$18,486
Other Securities$236,744--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$183,824-▲ $24,535-$208,359
2019$155,528-▲ $28,296-$183,824
2018$170,131-▼ $14,603-$155,528
2017$143,302-▲ $26,829-$170,131
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Michal MarcusExecutive DiFT$80,000$80,000

Board Members and Trustees

NameTitle
Eric KastonPresident
Dara Weinerman SteinbergDirector
Debbie ShawDirector
Jason PowersDirector
Jonathan BrownDirector
Karil BialostockyDirector
Lorie GelbDirector
Marquettes RobinsonDirector
Nina HolzerDirector
Richardo LeonDirector
Scott LewisDirector
Stuart OstroDirector
Laura KleinmanPast Preside
Brian RosenfeltTreasurer
Christine WeissVP Developme
Irwin LowensteinVP Developme
Carol WillenVP Governanc
Revenue and Support

Revenue Composition

Contributions and Grants
$759,746
Program Service Revenue
$0
Investment Income
$6,813
Other Revenue
$113,358
All Other Contributions
$759,746
Change in Net Assets
$361,845
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$391,166
Other Expenses$126,906
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$198,118$49,529-$247,647
Current Officers, Directors, Trustees, and Key Employees$68,000$12,000-$80,000
Fees for Services Other$50,573$16,766-$67,339
Payroll Taxes$50,815$12,704-$63,519
Other Expenses$22,357--$22,357
Office Expenses$9,202$2,233-$11,435
Occupancy$7,974$1,993-$9,967
Conferences and Meetings$4,684$1,170-$5,854
Insurance$4,433$1,108-$5,541
Information Technology$3,188$797-$3,985
Depreciation Depletion-$428-$428
Total Functional Expenses$419,344$98,728$0$518,072
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$153,014
Fundraising Direct Expenses$39,656
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
2021 Events$153,014$153,014$39,656$113,358
Total Events$153,014$153,014$39,656$113,358
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Board Chesed Fund$301
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Form 990 is provided to the governing body prior to being filed. The board of directors reviews form 990 prior to filing,”

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

“Annually the conflict of interest statement is required to be signed and compliance acknowledged.”

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

“Compensation is reviewed and approved by the executive committee from the board of directors. Comparable salaries are taken into consideration when determining a fair wage.”

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

“Compensation is reviewed and approved by the executive committee from the board of directors. Comparable salaries are taken into consideration when determining a fair wage.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Gmiluth Chasodim
EIN
34-0281800
Phone
2163789042
Address
23300 CHAGRIN BLVD SUITE 204, BEACHWOOD, OH 44122
Doing Business As
Hebrew Free Loan Association

Signing Officer

Name
Eric Kaston
Title
President
Phone
2163789047
Signed
2022-06-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michal Marcus
Formed
1904
Legal Domicile
Oh
Voting Board Members
18
Independent Board Members
18
Employees
7

Preparer

Firm
Bhgp& S Inc
Address
21207 CHAGRIN BLVD, BEACHWOOD, OH 44122
Preparer
Robert M Prebul
Phone
2164918300
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Provide services and expertise in loan review and approval process”

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

“Donor defined loan programs”

Form 990, Part IX, Line 11G

“Professional fees 3,086 771 0 office support consultant 0 15,600 0 consulting 5,050 0 0 payroll processing 1,173 293 0 development 25,671 0 0 website development 409 102 0 loan service fees 15,184 0 0 total 50,573 16,766 0”

Raw XML AppendixShowing 400 of 484 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE SERVICES AND EXPERTISE IN LOAN REVIEW AND APPROVAL PROCESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DONOR DEFINED LOAN PROGRAMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO THE GOVERNING BODY PRIOR TO BEING FILED. THE BOARD OF DIRECTORS REVIEWS FORM 990 PRIOR TO FILING,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY THE CONFLICT OF INTEREST STATEMENT IS REQUIRED TO BE SIGNED AND COMPLIANCE ACKNOWLEDGED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE FROM THE BOARD OF DIRECTORS. COMPARABLE SALARIES ARE TAKEN INTO CONSIDERATION WHEN DETERMINING A FAIR WAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE FROM THE BOARD OF DIRECTORS. COMPARABLE SALARIES ARE TAKEN INTO CONSIDERATION WHEN DETERMINING A FAIR WAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PROFESSIONAL FEES 3,086 771 0 OFFICE SUPPORT CONSULTANT 0 15,600 0 CONSULTING 5,050 0 0 PAYROLL PROCESSING 1,173 293 0 DEVELOPMENT 25,671 0 0 WEBSITE DEVELOPMENT 409 102 0 LOAN SERVICE FEES 15,184 0 0 TOTAL 50,573 16,766 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,298,994
Liabilities
$17,528
Net assets
$3,281,466
Revenue
$879,917
Expenses
$518,072
Net income
$361,845
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.15$0.01$3.15$0.54$0.77$0.23
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.22$0.01$3.21$0.62$0.55$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.04$0.00$3.04$0.45$0.56$0.10
2021Detailed filing. Detailed filing data is available for this year.$3.30$0.02$3.28$0.88$0.52$0.36
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.86$0.06$2.80$1.26$0.58$0.68
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$0.02$1.61$0.73$0.40$0.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.02$1.34$0.48$0.26$0.22
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.08$0.01$1.07$0.28$0.21$0.07
2015Detailed filing. Detailed filing data is available for this year.$1.00$0.01$0.98$0.36$0.14$0.23
2014Detailed filing. Detailed filing data is available for this year.$0.78$0.01$0.76$0.12$0.11$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.77$0.01$0.75$0.10$0.09$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.01$0.70$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.01$0.68$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.01$0.65$0.08