Financial Information

Financial Summary and Outlook

During fiscal year 2008, Community First Fund preserved its strong financial position.  Assets grew by 22%, to over $14.7 million.  The increase was due to the growth in loans receivable to $10.0 million, an increase of $2.6 million over the prior year.  The growth in lending is attributed mainly to our expanding portfolio in commercial real estate and larger business loans.  At the same time, we maintained our commitment to microlending for small and start-up entrepreneurs with 45 loans totaling over $726,000.  While increasing our loan portfolio, we continued to maintain low loan losses at 1.4% compared to 1.6% in the prior fiscal year.

Net Assets also grew to $4.6 million.  This equity level allows adequate resources for our continued growth.  Organizational revenues increased to $3.1 million, with contributions and grants increasing by over $400,000 to $2.1 million and earned income (interest and fees) increasing by more than 22% to $903,890.  This increase in earned income provides us a high degree of self-sufficiency and allows Community First to maintain the delivery of loan products and other services.  Total Financing Capital grew by %26 to $12.3 million, while Operating Liquidity Ratio and Current Ratio were 2.9 and 2.33, respectively, which continue to exceed the industry averages.

Financing Capital Growth and Source

CARSTM (CDFI Assessment Rating System)

In 2005, Community First Fund was one of the first organizations in the country to participate in CARSTM, the CDFI Assessment and Rating System.  This comprehensive, third-party analysis of community development financial institutions that aids investors and donors in their investment decision-making was designed by the Opportunity Finance Network. 

Community First Fund received a CARSTM rating of AA which indicates that “…this group is fundamentally sound.  It exhibits solid financial strength, performance, and risk management practices relative to its size, complexity, and risk profile…”

Investment and Donations

Where does Community First Fund get its money for loan capital?

Community First Fund has a variety of sources including investments and grants from businesses, religious organizations, financial institutions, government entities, and others.

How can I become an investor?

Community First Fund provides a great opportunity for institutional investors to invest their money into programs that support community and economic development initiatives. Contact President and CEO Daniel Betancourt for more information at dbetancourt@commfirstfund.org.

Can I give a donation to Community First Fund without becoming an investor?

Of course! Community First Fund is a 501(c)(3) non-profit organization so any and all donations are tax-deductible. Unfortunately, we cannot accept donations on-line or via credit card at this time. Please send in your donation to our Lancaster office to the attention of Stephanie Kessler.

Community First Fund is registered with the Pennsylvania Bureau of Charitable Organizations. The public can obtain basic information about how a charitable organization spends its contributions by calling the bureau toll free at 1-800-732-0999. They can also call this number to register complaints about improper conduct by charitable organizations, professional fundraising counsels, or professional solicitors.   Registration does not imply endorsement.