Philanthropy, Voluntarism, and Grantmaking

HFLA of Northeast Ohio

Planting Seeds, Growing Communities

aka Hebrew Free Loan Association

Beachwood, OH

Mission

The mission of HFLA of Northeast Ohio is to provide interest-free loans to address the financial challenges of residents of Northeast Ohio who lack access to traditional lending sources. Vision Empower individuals of Northeast Ohio to become economically self-sufficient and financially secure.

Ruling Year

1942

Executive Director

Ms. Michal Marcus

Director of Programs and Community Outreach

Ms. Katy M. Fuerst

Main Address

23300 Chagrin Blvd Ste 204

Beachwood, OH 44122 USA

Keywords

Economic Development, Education, emergencies, small business, escape from predatory lenders, home repair, and more

EIN

34-0281800

 Number

1625782950

Cause Area (NTEE Code)

Alliance/Advocacy Organizations (T01)

Alliance/Advocacy Organizations (L01)

Alliance/Advocacy Organizations (S01)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Social Media

Blog

Programs + Results

What we aim to solve

HFLA of Northeast Ohio helps those with unexpected financial hurdles to help themselves through interest-free lending. HFLA is provides initial dollars to small business owners in order to launch their business. HFLA helps fill shortfalls of funds for pursuing education. Improve our borrower's credit score to move them towards having access to traditional lending sources.

Our Sustainable Development Goals

Learn more about Sustainable Development Goals.

1 3 4 8 10 11 17

Our programs

What are the organization's current programs, how do they measure success, and who do the programs serve?

SOURCE: Self-reported by organization

General Loan Fund

Education

Escape from Predatory Lenders

Small Business Loans

Mt. Pleasant Loan Fund

Cleveland Municipal Housing Court Fund

Buckeye/Fairfax Neighborhood Loan Fund

Expedited Interest-Free Loans for Furloughed Government Workers

Slavic Village Loan Fund

Covid19 Emergency Loan Fund

Where we work

Our Results

How does this organization measure their results? It's a hard question but an important one. These quantitative program results are self-reported by the organization, illustrating their committment to transparency, learning, and interest in helping the whole sector learn and grow.

SOURCE: Self-reported by organization

Number of loans issued

TOTALS BY YEAR
Population(s) served

Adults,

Aging, elderly, senior citizens,

Economically disadvantaged, low-income, and poor people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context notes

Our lending continues to grow and reach more people in Northeast Ohio without access to conventional Funds.

Total dollar amount of loans issued

TOTALS BY YEAR
Population(s) served

No target populations selected

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context notes

Amount lent interest free annually in Northeast Ohio.

Total dollar amount of grants awarded

TOTALS BY YEAR
Population(s) served

No target populations selected

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context notes

With program growth we have been focusing on working with foundations to meet the growing need in Northeast Ohio.

Percentage of loans written off

TOTALS BY YEAR
Population(s) served

No target populations selected

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context notes

We take into account up to a 3% default rate on our loans, but the past 6 years have a 1% or lower default rate.

Charting Impact

Five powerful questions that require reflection about what really matters - results.

SOURCE: Self-reported by organization

What is the organization aiming to accomplish?

What are the organization's key strategies for making this happen?

What are the organization's capabilities for doing this?

How will they know if they are making progress?

What have they accomplished so far and what's next?

We believe that interest-free loans enable Northeast Ohioans to overcome financial hurdles, pursue education, and contribute to the economic development of our community. We work for a future where everyone has access to the capital that they need to succeed. Our goal is to increase our loan fund capacity so we can reach more people that would benefit from this resource.

* To ensure that all Northeast Ohioans are aware of our services. * To have the capacity to serve all of the demand for our services. * To be known and trusted by all of the partners who serve our target audiences.

* HFLA is the only interest-free lender supporting all Northeast Ohioans with a need and an ability to repay. * We help people overcome financial hurdles, pursue education, and contribute to the economic development of our community. * We help people escape from predatory loans. * We help people attend college. * We help people develop news skill to succeed in the workforce. * We help people purchase and repair cars so that they can get to work. * We help people get over unexpected financial hurdles, such as a home repair, an unanticipated tax obligation, or falling behind on bills. * We help business owners start or scale up a business when there is no easy access to other capital. * HFLA lends when there are no other providers of capital, we are often the difference between success and failure for our clients. * HFLA loans have over a 97% repayment rate. This means that the money invested in HFLA is recycled for generations. * HFLA has made thousands of loans in Northeast Ohio since 1904.

We have less then a 3% default rate. This shows that our ability to help with relationship lending is working. We get notes from past clients of their successes, and often donations of client paying it forward. We will continue to grow our loan fund. We will help our borrowers increase their credit scores, and as a result see them have more resources at their disposal.

We have increased the number and amounts of loans made. We have started reporting credit for our borrowers. We served as leaders in Ohio on the Coalition for Payday lending reform, and bi-partisan legislation was passed in 2018 to regulate these predatory lenders.

How We Listen

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

Source: Self-reported by organization

the feedback loop
check_box We demonstrated a willingness to learn more by reviewing resources about feedback practice.
check_box We shared information about our current feedback practices.
How is the organization collecting feedback?
We regularly collect feedback through: electronic surveys (by email, tablet, etc.), focus groups or interviews (by phone or in person), constituent (client or resident, etc.) advisory committees, suggestion box/email.
How is the organization using feedback?
We use feedback to: to identify and remedy poor client service experiences, to identify bright spots and enhance positive service experiences, to make fundamental changes to our programs and/or operations, to inform the development of new programs/projects, to identify where we are less inclusive or equitable across demographic groups, to strengthen relationships with the people we serve.
With whom is the organization sharing feedback?
We share feedback with: the people we serve, our staff, our board, our funders, our community partners.
What challenges does the organization face when collecting feedback?
It is difficult to: it is difficult to get the people we serve to respond to requests for feedback, staff find it hard to prioritize feedback collection and review due to lack of time.

External Reviews

Affiliations & Memberships

Dominion Energy Community Partnership Award 2020

Financials

HFLA of Northeast Ohio

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Operations

The people, governance practices, and partners that make the organization tick.

Need more info?

FREE: Gain immediate access to the following:

  • Address, phone, website and contact information
  • Forms 990 for 2018, 2017 and 2016
  • A Pro report is also available for this organization.

See what's included

Board Leadership Practices

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices.

SOURCE: Self-reported by organization

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Yes

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

Yes

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Yes

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

Not Applicable

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?

Yes

Organizational Demographics

In order to support nonprofits and gain valuable insight for the sector, GuideStar worked with D5—a five-year initiative to advance diversity, equity, and inclusion in philanthropy—in creating a questionnaire. This section is a voluntary questionnaire that empowers organizations to share information on the demographics of who works in and leads organizations. To protect the identity of individuals, we do not display sexual orientation or disability information for organizations with fewer than 15 staff. Any values displayed in this section are percentages of the total number of individuals in each category (e.g. 20% of all Board members for X organization are female).

SOURCE: Self-reported by organization

Gender

Sexual Orientation

This organization reports that it does not collect this information.

Disability

This organization reports that it does not collect this information.

Diversity Strategies

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We track retention of staff, board, and volunteers across demographic categories
close
We track income levels of staff, senior staff, and board across demographic categories
close
We track the age of staff, senior staff, and board
close
We track the diversity of vendors (e.g., consultants, professional service firms)
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We have a diversity committee in place
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We have a diversity manager in place
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We have a diversity plan
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We use other methods to support diversity
Diversity notes from the nonprofit
Our agency is non-sectarian and supports anyone in Northeast Ohio regardless of race or religion. Our board is of the Jewish faith, as we stem from Jewish principles of helping others to help themselves. we ensure that the members of our board are involved in the Northeast Ohio community and reach far and wide with their leadership.